Category: Featured

News

Why you should be investing in property NOW

May 22, 2023

It’s not clickbait, it’s simple economics – supply and demand.

Melbourne has seen a lot of changes since the pandemic and the demand for housing is at an all time high. News about rising interest rates have been circulating the media and our natural reaction is to hold on to what we have and wait out the storm. However, property data analysts agree that what we are seeing is an investor’s market.

Demand

Vacancy rates across residential properties are currently at a record low, with only 0.002% of Buxton Stonnington managed properties across Victoria available to rent – equating to 3 out of 1500. This demand is the result of an increase in single person households, a growing population and an influx in overseas migration. Melbourne is expected to overtake Sydney as Australia’s largest city with a predicted population of 6 million people by 2031. 

Supply 

It seems like almost every month we hear about the liquidation of a prominent builder, leaving thousands of would-be homeowners in the lurch. Our dedicated readers know that the way around this issue is to buy a property off the plan. Investing in property this way not only supports our developers, it also increases the housing supply in this overexerted market. 

Now that you know that it’s time to invest, you need to know where to put your money. The demand for housing is highest in areas with access to public transport and in close proximity to schools and shopping centres. 

Property Spotlight | Galerie

Located in desirable Glen Iris, Galerie is a collection of luxury apartments perfect for a downsizer or family. Residents of this contemporary property are privy to a world-renowned collection of private artworks, innovative architecture and lush outdoor spaces.

Immaculately designed by Ewert Leaf and LDS Property, with breathtaking landscape architecture by John Patrick, Galerie is a thoughtful, human-centred space that will leave a legacy for generations to come. 

For more information on Galerie visit: galeriegleniris.com.au

Contact Heath Thompson at Projects by Buxton today to start the conversation.

News

What Martin apartments will bring to Bayside Brighton

December 14, 2022

Martin has been conceived in collaboration with architects Buchan and design doyenne Miriam Fanning’s MIM Design.

High-end developer EBG has just commenced construction on it’s next striking project, Martin Brighton. 

Combining the vibrancy of its Martin Street location with the heritage of Brighton, the collection of just 11 residences, EBG say, are surprisingly unconventional and reassuringly recognisable.

There’s a mix of two and three-bedroom apartments, starting from 103 sqm floorplans internally. They range in price from $1,395,000 to $2.15 million for the 141 sqm three-bedroom apartments.

Martin has been conceived in collaboration with architects Buchan and design doyenne Miriam Fanning’s MIM Design.

Fanning says Martin has been designed to inspire a life of individuality. 

“In paying respect to the residential characteristics of the surrounding distinguished suburb, it is crucial this building responds to design with a timeless substance, ensuring it harmoniously settles into its environment,” Fanning says.

“The layering of the coast has influenced our design by the natural rhythm and undulating movement of the sea, textures of the rocks and soft sage green which naturally follows the coastline.”

Martin deliver a seamless indoor-outdoor connection, offering views out over verdant planted balconies to the city and the water.

The apartments feature stone benchtops, timber floors and wool carpets, double glazed windows and doors, and custom bespoke joinery.

Construction has commenced on the project, with completion slated for mid-2024.

This article first appeared on urban.com.au and has been reproduced here with permission.

News

Is the property market starting to bottom out?

October 20, 2022

In Melbourne, where the clearance rate was 66 per cent last weekend, Heath Thompson believes the uptrend of clearance rates will continue due to a type of buyer that has emerged in recent weeks.

There are strong signs that the lengthy property market downturn may not be quite as drawn out as first thought.

First the RBA only cut rates by 25 basis points in the October meeting, where many forecasters and economists had expected a 50 basis point hike. The cash rate now sits at 2.6 per cent, with the overarching view there are still a few more rate hikes to go before the RBA wait to see if their efforts to curb inflation have been successful.

It was the sixth consecutive month the RBA had hiked rates from a record low 0.1 per cent, but it was the first time in six months it wasn’t what is referred to as a “double rate hike.”

Clearance rates, which is one of the leading metrics in buyer appetite, was just over 63 per cent, the sixth week in a row it was over the 60 per cent mark. By no means is 60 per cent a target figure given clearance rates are in the high 80’s and into the 90’s when the market is hot, but it’s a start.

But in Melbourne, where the clearance rate was 66 per cent last weekend, Projects by Buxton Director Heath Thompson believes the uptrend of clearance rates will continue due to a type of buyer that has emerged in recent weeks.

“Bargain hunters are always the first to come back when the market has seen a significant drop,” Thompson said.

“They’re almost an indication as to when the market has bottomed, as they think now is the time to pick property up at its lowest price before it starts to shoot back up again in the historical pattern.

“Bargain hunters will almost singlehandedly drive the market back up. They essentially compete with each other which creates competition at auctions which does two things; drives prices up, which in turn drives auction clearance rates. There’s a much less likelihood of a property passing in and not meeting a vendor’s expectation when there’s a few bidders at an auction.”

Thompson says it’s the old adage, “if you wait for the bottom, then you’ve probably missed it.”

Thompson, who markets off the plan developments around Melbourne’s exclusive Stonnington and Bayside areas, is expecting a late run into Christmas as buyer demand starts to pick back up. 

At the moment Thompson is predominantly dealing with two types of buyers; the first home buyer who wants certainty in what they pay and are happy to wait for it to be ready, and the luxury downsizer, who wants the low maintenance living in a brand new property that requires no renovations.

Before the rate hike of just 25 basis points, CoreLogic’s Research Director Tim Lawless said it’s possible we have seen the initial shock of a rapid rise in interest rates pass through the market and most borrowers and prospective home buyers have now ‘priced in’ further rate hikes. However, Lawless suggested that if interest rates continue to rise as rapidly as they have since May, we could see the rate of decline in housing values accelerate once again.

Lawless cited the improvement of other indicators as the rate of decline in the property market slowed in September.

“Auction clearance rates also trended upwards, albeit subtly, in September and consumer sentiment nudged a little higher as well on the back of strong labour market conditions,” Lawless said.  

“We’ve also seen the flow of fresh listings continue to slide through the first month of spring, which is uncommon for this time of the year.”

Expect listings to flow next year as thousands of fixed loans expire. Those fixed loans, whether they were one-year or five-year fixed, will likely have been fixed at around the two per cent mark. Now the average interest rate on the market is in the mid four per cent range. 

This article first appeared on urban.com.au and has been republished here with permission.

News

What rising construction costs and declining vacancy rates mean for investors

May 18, 2022

So much has been happening over the past 12 months in the economy and across the globe from a political and social perspective. We have hit a record low for vacancy rates across the country, we’re witnessing sky-high construction costs and the demand for residential stock is far outweighing supply. While this time poses friction and frustration for some, it also presents opportunities for savvy investors. 

The current environment 

While we experienced a mass exodus of internationals and a halt on travel throughout 2020 and 2021, leaving empty houses and apartments and soaring vacancy rates, the coin has flipped in the past six months as the world began to open back up. 

With people flooding back into the country and Australians adapting to their new lifestyles, we’re now seeing the rental market bursting at the seams. There is a critical undersupply of rental properties and it is only continuing to decline. Renters are now desperate to get a foot in the door with many offering well over the asking price. 

This limited supply and ever-surging demand means that vacancy rates are at a record low. Depending on which region of Melbourne or Victoria you’re in, the vacancy rate is just under 2 per cent. In other parts of Australia, it is hovering around 1 per cent. 

Limited construction resources in Australia are playing a key role in this predicament, as it is becoming exceedingly difficult for developers to get new properties off the ground. International affairs such as the Covid zero policy in China, the political climate in Russia and the war in Ukraine are impacting the importation of materials such as treated timber products. Residential projects that were previously approved are no longer feasible to complete, and labour and skills shortages across Australia are compounding the issue for developers. The amount of planned stock coming to market is rapidly declining.  

What this means for investors

With the recent announcement of rising interest rates across the country, some investors are looking at this perfect storm of ‘critical supply and demand’ within the property market as a way of hedging against the rising cost of living and maintaining pace alongside it. 

With the interest rate hike comes a wary market sentiment that is forecast to push property prices down as buyers sell. Tight rental markets, the prospect of higher yields and long-term capital gains are providing an opportunity to make the most of a cooling market. 

We see an opportunity for what is known as a ‘counter cyclical purchase’ – capitalising on the downswing and cashing in on a great deal from those who are getting out of the market. 

If this is something that you are interested in taking advantage of, it is important to do your research. For off-the-plan purchases, the right questions need to be asked to ensure you are aligned with a trusted developer who can deliver on the project. 

News

Time to discover a new way of living in Brighton, Victoria

October 15, 2020

Developers Lucent Group have appointed Swell Constructions to start on their new project Slate House, to be sold through Projects by Buxton Real Estate.

Lucent Group is promoting their new project – Slate House, Brighton – despite strict COVID-19 conditions in Victoria, and started construction on its latest residential development through the appointment of Swell Constructions.

This is no ordinary project, however, as Panos Miltiadou, Managing Director of Lucent Group outlines the passion and ethics behind it.

“The Lucent principles are based on building fossil-free and energy efficient places to live,” said Mr Miltiadou to WILLIAMS MEDIA.

“Slate House is one of the most sustainable residential developments in Victoria.

“It’s minimum NatHERS average rating is 8.2 out of a maximum of 10.

“The highest in Brighton at the moment is around the 6 mark.”

Mr Miltiadou said apartments are quite expensive to run.

“With Slate House we are targeting the down-sizer and we wanted to bring sustainability into the project and running costs down,” said Mr Miltiadou.

“Our view is the buyer is going to have a beautiful space, quiet and comfortable but without contributing to greenhouse gases.

“We have proved a point that high end living can be achieved in a sustainable way.”

Slate House is unique in many other ways as well, using materials not common in the Brighton area.

Designed with a pitched roof, Spanish slate and terracotta cladding, Mr Miltiadou said Lucent knew it was a risk but they did it willingly.

“We worked with the architects, Austin Maynard, to achieve a building that  doesn’t overshadow the heritage buildings but making it homely and complimenting the surroundings.

“Buyers will appreciate the external and internal luxury.”

Heath Thompson of Projects by Buxton Real Estate, said Lucent had started construction, as pandemic restrictions have eased.

“Lucent have decided back themselves and their project during the pandemic and proceed to construction prior to achieving pre-sales to give their buyers the confidence that their new home will be constructed inline with the expected program and not be delayed by market forces,” said Mr Thompson.

“Lucent have a commitment to sustainable design and development and are providing Brighton with it’s first fossil fuel free building and an incredibly individual architectural design via Austin Maynard Architects, that truly sets Slate House apart from the other projects in Brighton that follow a common aesthetic.”

News

NDIS Fund Secures $34m in New Apartments and Needs More

September 29, 2020

Director of Projects by Buxton Real Estate, Heath Thompson has been working with a Specialist Fund to secure apartments in specific developments redesigned and fitted out for NDIS clients living with disabilities.

Heath Thompson has spent decades working in the family property business, gaining a high degree of experience across all aspects of acquiring, developing and marketing property. 

Today, Mr Thompson brings his vast range of knowledge and experience to help secure and develop bespoke apartments for those living with a range disabilities.

The Fund has to date purchased 57 apartments to be developed, 40 to 50 apartments still needed to fulfil the demand.

“At this stage, my client is going through an assertive acquisition phase,” said Mr Thompson.

“The requirements are quite specific, so there is a lot of research and due diligence that goes with this project.

“But it’s incredibly motivating and rewarding. The ultimate aim of this project could not be more worthwhile. It is to help those living with a disability to live as full a life as possible and to get back into the wider community.

“This is especially important for younger people whose only option to date, may have been to live in a nursing home, which of course is far from ideal,” said Mr Thompson.

At a Glance

  • Projects by Buxton Real Estate is looking for 40 to 50 apartments
  • A cap of 11 apartments to be purchased per development 
  • The location must offer access to public transport
  • Close vicinity to covered shopping centres is required
  • Ideal areas include outer suburbs of Melbourne, Gold Coast, Brisbane, Northern Territory and Hobart.

Projects by Buxton Real Estate is currently sourcing projects where apartments are either in the early phases of construction or about to start works. 

“Any apartments purchased for this project would need to be drawn up by our client’s  specialised architect to make the properties suitable for those with for Specialist Disability Accommodation,” said Mr Thompson.

“Some of the special requirements for these apartments include designing bespoke kitchens, creating a compliant path of travel through the space and allowing for wider doorways.

“The aim of this project is to enable any potential residents to fully integrate into their community and to live with as much independence as possible. If Projects by Buxton can contribute to this goal, we feel very motivated by that.”

News

Projects by Buxton – Interior Design

July 24, 2020

Projects by Buxton Director, Heath Thompson, has seen, first-hand, how a growing discernment of interior design has created a more demanding off-the-plan buyer but says that a lot of buyers still need to understand that the true definition of quality interiors should be about what is behind-the-scenes – not just on the surface.

“There is so much more to great interior design than what appliances are there and what type of stone is on the benchtop,” says Heath.

And with well-considered interior design playing such a critical role in the marketing success of off-the-plan property development projects, Heath says one of the key ingredients to successful interior design is its connection to what the target market actually wants.

“It’s really important – more than ever – to raise the bar to hit the interior design target,” says Heath. “This becomes possible when you understand who your buyer is, through research and a thorough knowledge of the way the market evolves. There are all kinds of fantastic interior design, but if your target market doesn’t want it, then it’s not valuable.”

With the needs and wants of that buying market changing from suburb to suburb, Heath says there are some general trends to take note of.

“In suburbs such as Richmond, Collingwood and Brunswick, industrial-style interior design touches still work well, whereas in the inner-eastern and bayside suburbs, there is still a preference for a contemporary style feel.

“There are all kinds of variations within those general trends, of course,” says Heath. “Projects by Buxton developments always offer slight variations, from use of dark finishes versus light tones, with the ability for clients to mix some things up to suit their personal tastes.”

But, he reinforces, it’s what lies “beneath the skin” that is the mark of truly great interior design.

“Many people think of interior design as the colour palette and tapware designs but thoughtful interior design works closely with architectural design and is about the way space is utilised to suit the needs of the people who will live there,” says Heath.

Choosing a professional interior design partner to collaborate with, says Heath, is something that must be taken very seriously. For many Projects by Buxton associated developments, the interior design collaboration is part and parcel of the connection to the project’s architect. But when interior designers are not part of an in-house package, Heath says that both developers and architects choose carefully, with the broader vision of the property development to guide them.

“There are some independent interior designers that carry a very strong brand name – and high-end prestige,” says Heath. “By having them attached to a property development project, buyers recognise the value.”

One positive example of how the choice of an independent interior design worked well, says Heath, was a recent Projects by Buxton development – Alia McKinnon.

“When it was well under construction it was already almost sold out and it set records on purchase price and per-square metre rate,” says Heath.

“The whole team – including the developer, BCENTRAL and the interior designer, Zunica Design – just got it. It was a fantastic collaboration that looked at the aesthetic as much as it looked as what the market wanted – and it ticked all the right boxes without going over the top.

By appealing to a broader sector of the market, properties sell more easily and a neutral colour palette gives incoming buyers the opportunity to add their own flair via artwork or furnishings.”

Sustainability and environmental-awareness in interior design is becoming more important for many buyers but Heath says a common question he gets asked is: “does it add value?”

For a buyer who cares about such issues, then the answer is a definite yes, but it is personal, says Heath.

“Broadly speaking, in terms of an entire development promoting its sustainable touches, there is definitely more value in some areas. In Melbourne, that value is typically recognised in locations north of the river,” Heath says.

News

Building Resilience in Difficult Times

June 2, 2020

The unfolding impact of the global pandemic crisis has given business leaders across many sectors a unique opportunity to exercise their brand agility and see how their team works during stressful times.

It’s not an opportunity anyone would wish for but, despite the challenges and devastation so many businesses have faced, it has been heartening to witness a coming together of community to offer support and be patient with each other. In the property development and real estate sectors, that patience has been tested as laws around social distancing continually evolve, with brand responsiveness to changing ways to do business proving quite complex and, at times, confusing. For Projects by Buxton Director, Heath Thompson, the crisis has created an excitement and fresh engagement with clients and partners that he wasn’t expecting to experience.

“There have definitely been some crazy times but when you start to see a light at the end of a tunnel, there are many things to celebrate about the way you’ve seen your team adapt and maintain their positivity,” says Heath. “Everything about the way we previously did business has changed in some way and, on the whole, it’s been interesting and even positive to be able to streamline processes and examine our ability to service our clients in a way that’s efficient and still so thorough.” By looking inwardly, Heath says that each and every member of the Projects by Buxton team has found ways to explore the way they interact – and then improve those ways to adapt to current circumstances.

“Great brands need to be flexible,” he adds. “At first, we all thought working from home was a curse but now we are confident that we can actually achieve so much while on the move and working from locations we never had to work from before.” The timing to transition the Projects by Buxton business to a more mobile model was something, fortunately, Heath says was already actively underway. “In our case, that timing was positive and we are so grateful to be in a strong position because of that commitment to innovation,” says Heath.

The technology at the team’s disposal has played an integral part in the way they will continue to do business – something that Heath says is less about “smoke and mirrors” and more about authentic insights and practical support. “One idea I’ve always subscribed to is the fact that you can’t control the uncontrollable,” says Heath.

Dealing with the laws from both state and federal governments that impacted so acutely on the property development and real estate sales sector definitely fell into the category of things beyond the management of his team at Projects by Buxton. But when it came to the ability to control their own actions as a response to dealing with the situation, Heath says it was important to be aware of the surrounding noise without letting it impact on his own clear focus.

“Creating ways to communicate clearly – with everyone involved in the projects we’re involved in – was key,” Heath says. “Fight or flight can be make or break and for us, even though there were definitely moments of panic, we recognized the need to stay grounded and move forward. Really, it was the only possible option.” Heath knows the difficult days are far from over but believes brands that can strategise creatively, while still remaining congruent with their brand values, can have a chance to do more than merely survive – they have the potential to thrive.

News

Innovation during adversity at Projects by Buxton Real Estate

May 1, 2020

A year ago, nobody could have predicted the changing times we currently face in the property market.

For many people, sadly, the changes as a result of this global pandemic have meant job losses and worries about financial security. For others, though, it seems to still be business as usual – albeit in a rapidly evolving world.

At Projects by Buxton Real Estate, Director Heath Thompson says he and his team are determined to use this time as a chance to learn and grow. ‘Business is going to change – there’s no doubt about that,’ he says. ‘Now is a positive time to innovate and motivate and we are looking at ways to deliver what our clients need, in a way that suits our current circumstances.’

Heath doesn’t mind admitting that, in a property sector that has relied on traditional, ‘old-school’ sales techniques, there is definitely room for cutting-edge improvements to make communications effective and efficient – changes designed to create communication solutions in this age of social distancing and lock-down but also continue to offer alternatives when life returns to its new normal.

‘We are looking at new ways to communicate with people and stand out from the pack,’ says Heath. ‘Being part of the Buxton network means we have some positive assets available to us – and that means our ability to utilise smart technology to inform our clients of property news and how they can still stay active in the market.

With the knowledge pool of 25 offices, 200 sales staff and collective databases with more than 600,000 contacts, we’re committed to finding new ways for people to find the answers to any questions they have.’ Heath knows that the current health crisis will force the hands of developers to pull back on projects but with powerful tools to connect clients with currently ongoing development projects in the virtual world, he also says there are still lots of opportunities.

By ramping up the production of video content to help people see the projects from the comfort of their own home, Heath says new ways of doing business keeps people safe and healthy, while still supporting much-needed economic growth.

The strategic approach to boost the level of video marketing Projects by Buxton Real Estate clients can engage with is about enabling buyers and potential buyers to form a real connection with quality information.

‘The new model of real estate sales communications won’t be about making you jump through hoops. We have information to give you and we want to share it,’ says Heath. ‘From viewing digital floorplans to having a Zoom meeting to discuss plans with all the relevant parties – it’s been a definite challenge to transition through but we believe this type of innovation will help a lot of industries perform better, in ways that are streamlined, sustainable and, importantly, very user-friendly.’

News

A spotlight on campaign creative with Heath Thompson and Darcy O’Sullivan

April 17, 2020

The journey towards creating an effective and dynamic creative campaign requires a lot of steps. At the heart of it all, is a team that communicates clearly to understand the essence of the project – and how to promote those benefits to a broader audience of potential buyers and investors.

When Projects by Buxton Real Estate begin work on a project, the team’s first priority is ensuring alignment between everyone involved, which is built on a solid foundation of communication between every member of the team including architects, interior designers, the developer and creative agency.

According to Director at Projects by Buxton Real Estate, Heath Thompson, getting everyone with ‘any input in the project at all’ together in one place – whether in an office, or via a Zoom meeting, in the current climate of social distancing – to ensure that there is a thorough understanding of all the moving parts, from everyone’s unique perspective.

‘That means getting the architect, the interior designer, the digital renderers, the builder, and, of course, the creative agency on the same page’ says Heath. The recent success of the Mast development in Brighton is, Heath says, testament to the way early planning process makes a positive difference.

‘The very first meeting happened straight after the planning permit was received and our team sat down with the architect, the creative design team, the developer and everyone else involved, and talked about every aspect of the process – and our vision for the project– in a way that helped every single member of that diverse team appreciate the importance of their individual roles and how everyone’s ideas could come together in a way that attracted buyers,’ Heath says. ‘When you get a creative team who really understands the intent of the project, the result is a powerful campaign that delivers real results.’


At Dugan & O’Sullivan, Managing Partner, Darcy O’Sullivan agrees. ‘The core challenge in the off-the-plan sales arena is a complex one,’ he says. ‘You are tasked with the job of creating interest in a product that doesn’t yet physically exist, so before you can help sell a property dream to a buyer, you have to first understand what that dream is – and the emotional impact of being able to make it come true.’

Creating trust, Darcy says, is critical, and for today’s increasingly discerning buyers, that means delivering much more than just a floor plan and a promise. Savvy developers have responded to the shift towards full-scale, project marketing campaigns that are branded uniquely to suit the relevant buying audience and the level of research undertaken by the Dugan & O’Sullivan team, Darcy says, plays a pivotal role.

‘Authenticity is at the core of every genuinely successful campaign,’ he says. ‘By approaching each creative campaign through a strategic lens, we help buyers connect desire with decision-making – for real sales results.’

In today’s changing world, both Heath and Darcy know the delivery of creative campaign strategies will continue to evolve but, at its heart, the process will remain the same. ‘The way creative campaigns interact with potential buyers will be different but the need to inspire people and generate a feeling of connection and belonging will never change’ says Darcy.

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