Filming for the seventh season of the reality show Selling Houses Australia will kick off this weekend in Kedron, seven kilometres north of the Brisbane CBD.

Selling Houses Australia is a renovation show that takes homes that are struggling to sell and transforms them into saleable beauties.

The 1920s seven-bedroom Queenslander&nbsp;is situated on 809 square metres at 25 Somerset Road.

[smartcode_project:default project_id=6515 project_image_fid=68834]

It was first listed in January for $750,000 and then dropped to $690,000, but still failed to attract a buyer.

It was purchased in 1985 for $62,000 and features original fretwork, traditional arches and French doors.

It will be open to the public on Saturday July 6 between 10am and 11am for the public to offer their opinions.

[smartcode_project:default project_id=97810 project_image_fid=159844]

&quot;It was kind of a bachelor pad for quite a few years and so the family touch has been forgotten,&quot; vendor Susan Ellis told The Courier Mail.

It served as a family home for almost 30 years, but after the passing of her husband, Ellis has chosen to sell.

&quot;The house has soul, but it needs to be brought back to life.

&quot;It would be quite distressing to see it deteriorate anymore,&quot; Ellis says.

[smartcode_project:default project_id=22057 project_image_fid=150837]

The property will be relisted for sale once the Selling Houses Australia team gives the property a facelift.

The team includes property expert Andrew Winter, interior designer Shaynna Blaze and landscaper Charlie Albone.

The Queensland property was first listed through Di Webb of Elders Real Estate Everton Park.

The median house price in <a href="https://www.urban.com.au/property-observer" target="_blank">Kedron</a> is $510,000, according to RP Data.

Selling Houses Australia is produced by Beyond Productions on The LifeStyle Channel.

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Andrew Winter's Selling Houses Australia kicks off filming in Kedron for series seven

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Investors wanting bang for their buck when remodeling their investment property ought to paint the place to get the cheapest of makeovers.

Interior painting of the walls and ceilings of a two-bedroom apartment come in at $1,500, according to the Australian Services Buyers Guide 2012.

The guide by ServiceSeeking.com.au gives customers an idea of how much money home renovation costs to possibly avoid overpriced quotes from tradespeople.

The guide offers pricing for the measured completion of tasks ranging from interior painting to plumbing, the most expensive of tasks.

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Exterior painting comes in first place for the cheapest trade service, with an average quote of $40 per hour including paint.

Interior painting is slightly more expensive than exterior painting, with an average quote of painting the walls and ceilings of a two-bedroom apartment being $1,500.

The walls of a small two-bedroom unit could cost as little as $430.

An average job for exterior painting includes the painting of a 24-square-metre deck and awning and has quote price of $1,200.

Interior painting could cost $4,700 for the painting of a four-bedroom townhouse with its exterior painting possibly costing $3,300.

According to the guide, NSW offers the best bang for a buck, with the cheapest quotes from painters. 

Victorians on average pay $400 more per task than their NSW counterparts, with prices starting at $1,700 for a one-bedroom apartment.

[smartcode_project:default project_id=3783]

The Sunshine Coast is the most expensive, with painting a one-bedroom apartment costing $1,870, however a job with three bedrooms will get you a better deal.

Quotes are generally consistent among states, however for a more precise quote, you simply need to write a job description and sit back and wait for the quotes to roll in.

Tiling ties with painting for the cheapest service, with customers paying an average of $40 per square metre excluding materials.

The minimum job quoted for tiling a small outdoor area of six square metres was $250.

[smartcode_project:default project_id=3565]

The tiling of a 20-square-metre outdoor balcony area is listed as an average job with a likely quote of $500.

The tiling rates in New South Wales are 5% more than the national average of $40 per square metre, and Victorians can expect to pay $45, an increase of 12.5%.

However, the guide says that New South Wales and Victoria property owners pay less than Queenslanders when charged by task.

 

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The third cheapest service is plastering, with an average cost of $45 per hour.

The minimum plastering job quoted in the service guide was for the repair of a ceiling and cost $150.

A plastering job of two plasterboard walls and one ceiling could cost $500.

The plastering of walls and ceilings in two rooms comes with a $2,000 price tag.

Carpenters are the third most expensive, with an average price of $50 per hour, excluding materials.

A job of building and installing a linen cupboard could cost on average $700.

The second most expensive service is electrical, which has an average cost of $65 per hour.

The minimum quoted price was $65 for residential electrical wiring.

Four light fittings and the replacement of switches and power points could cost you on average $300.

The maximum quote recorded by ServiceSeeking.com.au was $1,200 and was for the installation of four fans, 12 lights and powerpoints.

Victorians pay 40% less when it comes to appliance installation.

The most expensive general trade service is plumbing, with an average of $70 per hour.

A minor bathroom shower tap job could start from $80.

The installation of a new stove with gas fitting could cost you $400.

A larger job of installing gas pipes for heating, hot water and an oven can cost up to $1,000, the average quoted price.

Victorians can expect to pay 10% more for a plumber, paying on average $77 an hour.

New South Wales and Queensland are 7.1% below the national average of $70 an hour.

According to the 2010 Australian Services Buyers Guide, the average hourly rate was $66 although the average job price has come back.

The inclusion of details and prices that were charged for some recent jobs give consumers an idea of how much they should be paying for similar work.

“Our Australian Services Buyer’s Guide 2012 saves Australian renovators from the risk of overpaying. It’s going to change the way people renovate their homes – they won’t want to commit to a quote without consulting the guide first,” says Jeremy Levitt, co-founder of ServiceSeeking.com.au.

ServiceSeeking.com.au has helped over 500,000 customers get quotes from 65,000 businesses.

The data in the guide is based on the analysis of over 700,000 quotes submitted by Australian local businesses through ServiceSeeking.com.au over the past year.

ServiceSeeking.com.au is Australia’s largest marketplace for local services, and allows people to post job descriptions that they need done on the website.

The Australian Services Buyer’s Guide 2012 is available for purchase on <a href="https://www.amazon.com/Australian-Services-Buyers-Guide-ebook/dp/B008OOR1HO" target="_blank">Amazon</a> for $9.95.

Sections of the guide can also be viewed on <a href="https://www.serviceseeking.com.au/" target="_blank">ServiceSeeking.com.au’s</a> blog.
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For that lick of paint: Cost guide to give your investment property a makeover

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Deciding on finishings and fixtures in an off the plan apartment design is an important step, as the products you choose will determine how your property ages.
The choice of finishings and fixtures may also attract different types of tenants as some tenants may be prepared to pay more for higher quality touches, but the upkeep and maintenance needs to be considered, as they do depreciate with time.
Decisions to make include floor coverings, window dressings, wall tiles, paint colour, taps, door handles, light switches, light shades, kitchen appliances, sinks and more.
“Just like a good wine, you want your property to age well,” says <a href="/expert-insights/buying/18398-tuesday-observer-the-four-fs-of-residential-developments-michael-matusik">Matusik Property Insights director Michael Matusik</a>.
“The trend for finishes is simple: modern, spacious designs that can stand the test of time, but are also welcoming, comfortable and feel like home,” Matusik says.
Matusik says when choosing floor covers, the trend is for longevity.
“Carpets are generally darker and limited to bedrooms. The most durable living area floor is a tiled one; gloss or matte.
“For depreciation purposes, carpet, timber floorboards and tiles are each deemed to have an effective life. Carpet with 10 years, timber floorboards with 15 years and tiles with 40 years.
“A $2000 outlay on floor coverings, for example, would result in the following depreciation benefits in the first year: carpet $400, timber floorboards $267 and tiles $50.
“Armed with this sort of knowledge, an investor might find it financially viable to upgrade a level of finish from say, low to medium or medium to high,” Matusik says.
Matusik says when it comes to kitchen appliances; quality and function are the way to go and it’s the little details that tick the box these days.
“Think of a fridge dispensing ice and water, a bigger oven, a wider cooktop, or a built-in coffee machine. Negotiate just one ‘wow’ factor into your kitchen and tenants will love you,” Matusik says.
Matusik says another quality trend is soft-close drawers and that energy efficient light fittings should be considered.
“Beware of glossy leaflets with annotations along the lines of ‘artist impression’ and ‘subject to change or availability’.”
“Ask too, whether the construction will merely meet Australian standards. These standards are, in the main, inadequate for the realities of modern urban living and in particular, for those residing in large apartment complexes. You are better off paying for higher than the prescribed building standard,” Matusik says.
The choice of fittings and fixtures could also affect your property’s resale, according to Property Searchers managing partner Scott McGeever.
“Consider the type and quality of construction and the level of fittings and fixtures that are used in the complex, as well as the interior of the property itself.
“If they are cheap and nasty, they tend to not age well and look tatty after a short time period and that will affect re-sale.
“Finished quality of fixtures and fittings can also vary to what they looked like on the sample board. What might appear good quality in a display might have been poorly executed/installed when being built,” McGeever says.
When choosing fittings, fixtures and finishings, opt for quality and function and also longevity. Top of the range appliances may be OK for owner-occupiers but will not always pay off for investors and depreciation benefits.
Off the plan buyers should also be sure to have a schedule of inclusions of all fittings and fixtures, on the sale contract.
{rsform 49} 
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How to: Decide on finishes and fittings

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When it comes to purchasing an off the plan apartment, one thing is constant - the ‘first in best dressed’ rule applies.
The key is to watch out for marketing campaigns for new developments, in order to stay ahead of the pack.
However there is no one size fits all strategy to promote new options, with each developer reaching out to potential buyers in different ways.
Developers generally start advertising their development a couple of weeks prior to the official launch to generate some buyer interest, and some will offer a VIP night.
“Rather than starting to advertise when the property is ready to go on the market, it will be a couple of weeks in the lead up to it so potential buyers have an option to look at it if they’re really keen,” says Melbourne Real Estate sales director Georgina Mellick.
“Some people just want to go to the open, but some people want the option to look in a bit earlier before it goes to market.
“It’s [VIP nights] just a bit of building the momentum for any of the people wanting to have a look in before.”
Accessing a property for sale earlier means having a greater chance of securing a better unit and potentially getting a discount, as most developers need to sell a certain pre-sale amount before the bank will grant them funding.
Off the plan apartments generally only require a deposit up front and the balance of the purchase price is paid upon settlement, typically 12 to 24 months down the track.
It’s important to keep in mind lenders will only give conditional approval to finance an off the plan purchase, subject to future valuation. When the unit is complete, the lender will have the apartment valued. If it comes in lower than the purchase price, the lender will finance a lesser percentage of the purchase price.
That means, if a buyer snaps up an apartment when the market is on its way up, the property is likely to gain some value before settlement date but the purchase price remains the same.
However, if an apartment is bought and the market drops, buyers may be short of cash at the end if the valuation comes in lower at settlement.
The Western Australia Department of Commerce says when buying a new apartment it’s important to check for provisions in the contract such as the completion date, whether buyers are entitled to resell the property before the purchase is completed and if they have the right to a pre-settlement inspection.
The department recommends visiting any other projects the developer is involved in, to find out if the projects are on schedule and if the quality of the work is good.
It is also important to get a copy of the plan and get the plans and specifications checked by an independent architect or building consultant and for the buyer to choose their own licensed valuer to value the property.
“Most disputes arise from a buyer not being happy with the end product,” says <a href="/expert-insights/buying/24082-monday-july-1-flicker-8-potential-pitfalls-to-watch-out-for-when-you-buy-off-the-plan" target="_blank">Holding Redlich lawyer Carolyn Chudleigh</a>.
“The best way to avoid this is to be aware of exactly what all of the finishes should be,” says Chudleigh.
“All of this can be negotiated before exchange of contracts and should be included specifically in the contract if you want to be able to enforce performance against the vendor.
“If a contract is skinny on detail, there may be little room for complaints at the end of the day.”
The rule of thumb when buying off the plan is: first in first served – interested buyers should register early and attend VIP nights if they’re offered. Secondly, the contract should always be looked over by a solicitor before any signing occurs.
 
{rsform 49}
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How to: Purchase an off the plan apartment

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Planning how to rent out an off the plan apartment is similar, if not the same, to other forms of property investment strategy, however some developers may offer a rental guarantee on the new purchase.
Developers generally offer a rental guarantee for the first year or two, however many property professionals warn against buying into a development that offers a rental guarantee.
iProperty Plan director Mark Armstrong says by accepting a guaranteed rent level, investors are insulated from market forces.
“As newer properties come on to the market and tenants have a wider choice of places to live, the market rent for a property could fall,” says Armstrong.
Market analyst <a href="https://www.urban.com.au/guides">Catherine Cashmore</a> says the rental guarantee is always factored into the sale price of the apartment.
Cashmore says rental guarantees can be between 5% to 7%. If an investment has a gross return of 6% and the developer guarantees $300 a week rent, the purchase price would be $260,000.
But if the market rent is in fact $250 a week, the property is really worth $218,000, resulting in investors paying 19.2% over the market value.
“Once the guarantee expires, the unit’s yield will revert back to market forces,” says Cashmore.
Armstrong says once the guarantee expires, investors will need to have sufficient cashflow to hold the property during periods when the property is not tenanted.
Property 1 real estate agent Garth Rothwell says rental guarantees are good for overcoming fear of loss due to a vacancy period but in reality, all rents are guaranteed.
“I guarantee there will be people willing to rent a unit, it just comes down to how much rent they are willing to pay.
“Guarantees that are offered by the developer and are above market value are bound to fail, as proven in the past, as they are unsustainable over the medium to long term.
“Rent guarantees based on market value for a period of one to three years can be beneficial for investors to overcome the fear factor and help the investor with cash flow in the initial years of the purchase,” says Rothwell.
“Ultimately it comes down to how the rent guarantee is funded.”
Off the plan apartments can be advertised for rent prior to settlement but Rothwell says the investor will require the developer’s permission to advertise early, as the developer will have to authorise access to conduct inspections.
“If the unit is leased prior to settlement, the developer is entitled to the rent collected prior to the settlement date.
“If a guarantee is in place, the developer will already have this process in place,” says Rothwell.
For investors wanting to rent out their new apartment, Rothwell advises to price the unit at market value, not emotional value.
“Investors should be prepared to trade off $10 to $15 per week in rent to get a better tenant sooner, or alternatively a tenant with a small pet may pay more.
“The investor needs to identify the type of tenant they wish to attract, familiarise themselves with relevant facts regarding pets, body corporate rules and on site management,” says Rothwell.
Rothwell advises that a pre-purchase/settlement inspection is organised from a licensed building inspector and that a detailed initial inspection report is completed.
“Complete all guarantees for stoves, ovens, dishwashers and air conditioners and ensure a landlord’s insurance policy is in place to cover loss of rent due to malicious damage and a basic contents policy to cover any dispute about building or contents,” says Rothwell.
As with any property investment, research is the key to ensure the numbers add up and that all the correct measures are taken to safeguard investors and their property.
{rsform 49}
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How to: Rent out an off the plan apartment

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Buying a new apartment off the plan is increasingly popular, but there can be pitfalls if individuals fail to do the necessary research on the property developer.
Background checking a developer doesn’t mean becoming Sherlock Holmes and sleuthing around, but it does require a potential purchaser to ask questions and take an interest in a developer’s history.
The best place to start is online by looking at property blogs and newspaper articles. A quick search of the developer’s name should yield results. Are there any court actions against a developer? Bad feedback on forums should ring alarm bells.
CBRE director of residential development Matthew Ramsay says the other key step is to research a developer on their website and see what other projects the company has developed.
“You can go out and see the display suite and see the quality of the actual project, or even older things they’ve built, to see the quality of the finishes,” says Ramsay.
Ramsay says there are two types of developers, tier one and tier two.
“There’s the developer who will employ a third party builder and it’s important to know who that third party builder is. It needs to be someone who has a signification in the market and someone who has done residential construction before,” says Ramsay.
“If a builder is known as a tier one or a tier two builder, then they’re known as a good quality builder in the market place.”
If an individual is going through a buyer’s agent, the agency will generally obtain information through their agent contacts in the market and will know the quality of the product the developer provides through past experience.
Property Searchers managing partner Scott McGeever says it is important to look at the facilities offered in the complex, as they can be big-ticket costs down the track and significantly add to strata expenses.
McGeever says to look at the type and quality of the construction and the level of fittings and fixtures that are used in the complex and well as the interior of the property itself.
“If they are cheap and nasty, they tend not to age well and look tatty after a short period and that will effect re-sale,” says McGeever.
Most new development projects have a mandatory seven-year structural warranty with an insurer and Ramsay says buyers do have rights in their contract of sale if things were to go askew.
“In most, if not all contracts of sale, there is a deadline date in which the developer must have the apartment completed and hand it over to the buyer,” says Ramsay.
“If the developer misses that deadline date, the buyer then has the right to refuse the contract and the deposit is returned.
“If the apartment layout changes or there’s significant changes to the apartment, the buyer also has the right to refuse the contract.”
It’s also important to have the contract of sale read by a solicitor.
With the right research done into the developer, the architect and the contract details, buying off the plan does not need to be a risky property investment.
 
{rsform 49}
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How to: Background check a developer

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Off the plan properties appear attractive to some buyers as only a 10% deposit is required up front, leaving a timeframe of 12 to 18 months to get the necessary finance in place.
Off the plan purchasers are entitled to borrow the same amount as other forms of lending – up to 95% of the purchase price and capitalised lenders mortgage insurance (LMI) – but will need to commit to the purchase without having an unconditional approval from the bank.
Buyers cannot apply for a mortgage if settlement is over 18 months away but most lenders issue a pre-approval, and once settlement comes, it can be reassessed.
Multifocus mortgage broker Philippe Branch says generally lenders require a valuer to go on site and visit the premises, which is only possible about four to six weeks before settlement.
“An application can be lodged up to six months in advance with some lenders but the approval is subject to valuation,” Branch says.
“Some rare lenders will offer full approval with an off the plan valuation, without going on site up to 17 months before settlement. However, they will do a physical valuation before settlement to confirm the first valuation.”
Branch advises that purchasers stick to borrowing 90% of the purchase price plus capitalised LMI as a maximum, as LMI can become expensive at 95%.
“LMI can be over 4% of the value of the loan and mortgage insurers become really nervous of mortgages over 90%, applications need to be strong,” says Branch.
Branch says there are hidden costs to be aware of in buying an off the plan property, including not only a lawyer, but also blinds and curtains.
“Lawyers costs are typically more expensive as off the plan contracts are usually not standard contracts,” he says.
“So whereas a typical conveyancing would be $1500 to $2000, an off the plan would probably be $2000 to $3000.
“Also, make sure that blinds and curtains are included in the contract otherwise it is an extra cost at settlement.”
The repayment schedule of an off the plan purchase does not differ from other forms of lending and can be paid as principal and interest over 30 years or interest only over 30 years, with a five to 15 years interest-only period.
If the developer happens to go bust during development, the purchaser does not lose their 10% deposit.
“Most off the plan deposits will go into a lawyer’s trust account and is not available to the developer,” says Branch.
“If the developer goes bust, then the deposit and accrued interest will be returned to the buyer.”
Branch says buyers sometimes give a 10% deposit or more to the developer directly, who in return promises huge interest, typically 15% per annum.
“Schemes like this gave off the plan a bad name in the past. If the developer goes bust, the investor has lost the deposit,” says Branch.
First home buyers are entitled to state grants when buying or building a new home and buyers in New South Wales are entitled to a New Home Grant, which equates to $15,000 for off-the-plan homes, dropping to $10,000 in 2016.
The list of grants available in each state can be found on government websites.
Buying off the plan comes with pros and cons like any property purchase, but it’s important to keep in mind that a pre-approval valuation may be less or more than the final valuation, ultimately altering the percentage of the amount borrowed.
{rsform 49}
 
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How to: Organise finance for a new build

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Like a brand new car, new apartments and contents depreciate in value almost immediately but many investors are not aware of the depreciation benefits they are entitled to claim.
The Australian Tax Office enables investors to cover part of the purchase price by allowing them to claim depreciation on certain items like fittings and fixtures at the end of every financial year.
Although there is no percentage that fits all off the plan purchasers, Matusik Property Insights director Michael Matusik says up to 60% of the built cost of a new apartment can be tax-deductible over time.
Purchasers of off the plan apartments can take the contract of sale to a quantity surveyor to have a depreciation schedule put together, as the contract will detail inclusions such as price, size of the unit and size of the building.
A tax depreciation company can also inspect a property to determine the current value of every item and will then calculate how much value each of those items will lose every year for up to 40 years.
However, Multifocus Properties and Finance chief executive officer Philippe Brach says to get a definite schedule that an accountant can use, the property must be settled as the settlement acts as the starting date for the depreciation entitlement.
The depreciation report is submitted at the end of every financial year and is allowed to be back dated by up to two years.
BMT Quantity Surveyors director <a href="/expert-insights/finance/24589-investors-attracted-to-301142-park-street-south-melbournes-depreciation-tax-windfall-" target="_blank">Brad Beer says on average investors can claim between $5,000 and $10,000</a> as a first full-year deduction.
Brach says for the first few years, depreciation will fall away rapidly but is largely compensated by rising rent revenue in keeping the cash flow constant.
“After about 10 years, depreciation will stop declining but rent will still keep rising, therefore the cash flow starts increasing,” says Brach.
Property investor <a href="/expert-insights/finance/16155-the-benefits-of-depreciation-or-how-wear-and-tear-can-be-to-your-advantage-cameron-mcevoy" target="_blank">Cameron McEvoy</a> says the amount an investor can claim is always much higher in the first few years.
“It goes without saying that the figure for say year three, will be much higher than year 27.
“This is due to the gradual degrading value of items.
“More often that not, properties that are one to five years old have the most depreciable potential,” says McEvoy.
Brach advises that when looking at potential investment properties, fittings and fixtures should be taken into consideration when short-listing apartments as they will give high depreciation in the early years.
Off the plan buyers should be able to obtain a depreciation schedule from the developer free of charge to help them work out their numbers properly but if one is not available, a report can be constructed for around $300 to $1,000 through a depreciation specialist.
“Without a schedule, your cash flow may be way out of reality and you investment decision will be wrong,” says Brach.
The one-off report fee is also tax deductible.
{rsform 49}
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How to: Check your depreciation entitlements

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Many home buyers are eligible for government support through first home owner schemes, particularly those buying off the plan apartments, but each state has their own schemes in order to boost state construction.
Here is a breakdown of the current grants and incentives available in Victoria, New South Wales, South Australia and Queensland.
The New South Wales government has the New Home Grant scheme, which offers $5000 for off the plan homes valued at $650,000 or less and is available to both investors and owner-occupiers.
An application for the New Home Grant must be made within three months of the first signed contract and is paid as credit on the purchaser’s stamp duty.
If the stamp duty tax is greater than $5000, the difference between the duty and the $5000 grant is to be paid by the buyer, but if the stamp duty is under $5000, the grant is used and the buyer is not out of pocket.
The grant can be applied for more than once on multiple properties, however each property must be new and only one grant will be issued per property.
The New South Wales government also offers a First Home Owner grant of up to $15,000 for newly built or bought homes valued at under $650,000. The property must be the intended place of residence, as the buyer must live in the property for a continuous period of six months.
The New South Wales First Home Owner grant will drop down to $10,000 from January 1, 2016.
The Queensland government offers first home buyers building or buying a brand new home a $15,000 Great Start Grant for properties valued under $750,000.
To be eligible for the grant, first home buyers must move in within one year of the completion date and live there for a minimum of six months.
Applications can be made through the Office of State Revenue or through a bank or lending institution.
The South Australian government offers up to $15,000 for first home buyers building or buying a new property that does not exceed that value of $575,000.
As with other states, the property must be the intended place of residence for at least six continuous months.
Off the plan buyers may also be eligible for an off the plan concession, which provides a full stamp duty concession of up to $21,330.
To be eligible for the full stamp duty concession, contracts must be entered into before June 30, 2014, as after this date, only a partial concession will be paid until June 30, 2016.
The stamp duty concession is only available to apartments located within a certain area, so check the Revenue South Australia website for more details.
First home buyers building or purchasing a new home in Victoria are eligible for up to $10,000 as long as the value of the home does not exceed $750,000.
All states can apply for grants via the Office of State Revenue or through a bank or lending institution.
If applications for grants are made through the Office of State Revenue, the grant may be paid as soon as all necessary documentations are received.
For those applying through a bank or lending institution, the grant is generally paid on settlement. 
{rsform 49}
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How to: Apply for the first home owner’s grant

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Off the plan apartments are generally offered at a cheaper rate and provide investor incentives such as tax depreciation benefits and stamp duty savings.
However, for most buyers, the big picture goal is capital gain, so assessing the return potential of a new purchase from day one will help ensure success. Here are some key things to consider to get the most capital gain from an investment.
The first red flag? An oversupplied market
When a market becomes oversupplied, values can drop sharply, as can rental rates. New South Wales-based property investor <a href="https://www.urban.com.au/guides" target="_blank">Cameron McEvoy</a> says high market penetration occurs when too many large-scale development applications are approved by a council and are completed a few years later, resulting in an oversupply of housing stock in an area.
To avoid investing in a soon-to-be development jungle, investors should talk to local councils or visit the department of infrastructure website in their state to find out about projects that are underway or in the planning stage.
Heritage listed sites are a bonus
McEvoy says heritage listed sites are great things to look out for as heritage dwellings are not going to be bulldozed any time soon, therefore potentially making a desired apartment block as rare as hen’s teeth in that area.
“This in turn could result in your dwelling holding its value or increasing in value faster,” says McEvoy.
Get a demographic snapshot of the area
Understanding the population growth and job opportunities in an area is also an important tool in assessing capital gains, as it can give a snapshot of how an area is changing.
Principal of Sydney-based buyer’s agency 37 Property Group, Dean Berman, recommends comparing an old Australian Bureau of Statistics census against the most recent census to get a snapshot of how an area is changing.
Berman says to consider historical trends of vacancy rates and rental yields to gauge an understanding of the market.
“Investors could look at how vacancy rates have performed over the last five to ten years and that, sub two percent, is a good benchmark,” says Berman.
Owner-occupier appeal
Property Searchers managing partner Scott McGeever says a good investment needs to appeal to the owner-occupier market rather than the mass investor market.
“This will generally be done by investing in a larger floor area in a smaller complex, rather than a smaller one-bedroom unit in a high rise complex,” McGeever says.
One-bedroom units in high-rise complexes will fall into the trap of competing against a hundred other similar apartments in the same complex, which appeal to the same market.
Remember…
Before investing in an off the plan apartment, research is integral in assessing whether the development has the potential for capital gain. As mentioned, things to look out for include: avoiding an oversupplied market, a larger floor area in a smaller complex is better than a small space in a highrise development, and having a demographic snapshot of the area and its potential for change is crucial.
Off the plan apartments, like any other investments, are more likely to result in a positive investment if due diligence is taken in the research phase.
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Nicola Trotman

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