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Chandos Street<br />

Atchison St<br />

THE PROPERTY REVIEW<br />

A Quarterly Journal Published By<br />

Tower & London<br />

<strong>Spring</strong> <strong>2007</strong>


THE PROPERTY REVIEW<br />

A quarterly journal published by<br />

Tower & London<br />

<strong>Spring</strong> <strong>2007</strong><br />

Enquiries regarding the Journal should be made to:<br />

Tower & London<br />

38 Alfred Street,<br />

Milsons Point NSW 2061<br />

Phone: 9956 6500 Fax 9956 6522<br />

Email: reception@towerlondon.com<br />

Disclaimer<br />

Data and information in this document were obtained from sources we deem to be reliable. However, no<br />

person should rely on any of the contents of this publication without first obtaining advice from a qualified<br />

professional person. Tower & London gives no guarantees, undertakings or warranties concerning the<br />

accuracy, completeness or up-to-date nature of the information provided. Tower & London Pty Limited<br />

accepts no liability for any loss or damage suffered as a result of the use of any person of the contents of<br />

this publication.


Table of Contents<br />

Investors’ market<br />

John Tower page 2<br />

St Leonards, resurrected<br />

John Tower pages 3 - 5<br />

Taxation update<br />

Martin Dickey page 6<br />

Repairs, urgent or not<br />

Kim Phuong page 7<br />

Properties for sale pages 8 - 9<br />

First Home Benefits<br />

Tania Enwiya pages 10 - 12<br />

Property Prices Review:<br />

- Australian Capital Cities page 13<br />

- Lower North Shore, Sydney page 14<br />

- Rentals page 14<br />

Tower & London<br />

Sales and Leases (June Quarter) page 15<br />

Staff page 16<br />

Page 1


Investors’ Market<br />

John Tower<br />

Property valuer<br />

The main article in this issue is named St Leonards, resurrected;<br />

the change to Mix Zone and increased building<br />

heights for the St Leonards Town Center in North Sydney<br />

LEP 2001 created a rush by developers to purchase<br />

and amalgamate two or three old commercial buildings,<br />

to build multi-storey residential high-rise buildings with a<br />

couple for levels of commercial space on lower floors.<br />

Then, of course, there was the so called property<br />

“boom” when everyone thought it was a great idea to<br />

buy one – off the plan especially – regardless of the<br />

price, as long as the Bank would lend them the money,<br />

and more devastatingly: regardless of the would be<br />

yield. The developers guaranteed 5% returns; and they<br />

included the stamp duty on the price of the purchase, so<br />

the punter could lump the Stamp Duty on the mortgage<br />

as well. This continued until 2004. I wonder what were<br />

the Bank Valuers doing at the time?<br />

Surprise! Surprise! the boom was over by early 2004;<br />

which left many mortgages exceeding the “awakened”<br />

Bank Valuers’ property valuations. The generous rent<br />

guarantees had lapsed by 2005. All that was left was a<br />

high sum to be paid every month by the property investor<br />

to the Bank to supplement the meager rents they<br />

were receiving. Many could not make these payments;<br />

and as they fell so far behind, their investment property<br />

was auctioned on behalf of the mortgagees and sold for<br />

heartbreak prices. Further reducing the already deflated<br />

values.<br />

St Leonards is a good example: take an average twobedroom<br />

unit in newly constructed buildings, off-the-plan<br />

and later when the building was completed; they sold for<br />

an average price of $580,000. The average rent would<br />

have been $450 per week. The same property would<br />

now be worth $530,000, it is leased at $520 per week.<br />

The returns have jumped from 4% to 5% and rising. Not<br />

only are the yields 20% higher, the vacancy rates have<br />

diminished ensuring good continuous income. Now, despite<br />

the interest rises, investors are returning to St Leonards.<br />

Hence: resurrected.<br />

As mentioned in the previous issue, I would be asking<br />

professionals in related industries to contribute on regular<br />

basis, hence, have invited the company accountant,<br />

Martin Dickey. I am pleased and indebted to Martin who<br />

has contributed his introductory article, titled: Taxation<br />

Update.<br />

Kim Phuong, Manager of St Leonards office has written<br />

her usual property management page. This issue is<br />

about repairs. Perhaps more importantly, the separation<br />

of how the rules apply to repairs that are classified as<br />

“urgent” and those that are not. What are the owners’<br />

responsibilities, who can act and when.<br />

Tania’s article this quarter is entirely reproduced from<br />

the OSR web site relating to First Home Benefits. Smart<br />

young professionals are buying for the first time, they<br />

are taking advantage of these generous government<br />

grants and making their move at a time when everyone<br />

else isn’t. Tania and I hope this article with the latest<br />

developments will be useful.<br />

There are some changes to the Property Prices Review<br />

on pages 14 & 15. Sydney Median Prices for houses<br />

and units tables have been converted to quarterly as the<br />

winter issue showed only the yearly changes, this issue<br />

I have included every quarter for the past three years.<br />

On the second page, major changes: Instead of listing<br />

the quarterly changes in values for the three Local Government<br />

areas in the Lower North Shore: a new table<br />

listing the past three years quarterly. Therefore, one can<br />

see how prices in Sydney are compared to the rest of<br />

the Australian cities on page 14; and on the opposite<br />

page, see how the Lower North Shore is in comparison<br />

to Sydney General prices. The rent column remains unchanged.<br />

Other changes include the centre spread of Properties<br />

For Sale, these pages will be dedicated to current properties<br />

that are still on the market when we go to print.<br />

Last issue had only two properties as we gave each<br />

property a full page, now we’ll have ten or more properties<br />

in each issue. Similarly with rental page 15, we had<br />

only two last issue, we have now chosen 12 properties.<br />

The latest Real Estate Market Facts, a quarterly review<br />

of major residential property markets in Australia published<br />

by the Real Estate Institute of Australia, (from<br />

which I base the above mentioned Property Prices Review)<br />

point to the shortage of supply being the reason<br />

for the median price of all the major cities in Australia,<br />

except Sydney, are at their highest level ever in both<br />

units and houses.<br />

One would wonder why then Sydney does not have the<br />

same level of price increases, it is not because there are<br />

more houses or apartments being built in Sydney relative<br />

to the population, interest rates are not any different<br />

and the unemployment rates are not that much higher<br />

than other Australian cities. Yet still prices for units and<br />

houses remain the highest in the country; should they<br />

be?<br />

Page 2


ST LEONARDS, resurrected<br />

St Leonards is part of the<br />

Holtermann Precinct of the<br />

North Sydney Council<br />

History<br />

The Municipalities act of 1858 brought with it the proposal<br />

to incorporate the parish of Willoughby and the<br />

township of St Leonards. For North shore residents<br />

theirs was a much neglected area with street like kangaroo<br />

tracks. William Tunks was the first mayor of St Leonards<br />

when it was proclaimed in June 1867. The council<br />

had to deal with roads, the problem of sewerage disposal<br />

and pollution of Harbour waters by industry.<br />

The name St Leonards originally applied to the area from<br />

the present suburb of North Sydney to Gore Hill; the<br />

township of St Leonards laid out in 1838 is now North<br />

Sydney, the Municipality of North Sydney was constituted<br />

in 1890. The present St Leonards lies to the north<br />

west of the original township. The oldest railway station<br />

on the North Shore line, St Leonards opened in 1890.<br />

The line originally ran from St Leonards to Hornsby, so<br />

passengers traveled from St Leonards to Milsons Point<br />

ferry terminal by horse-bus. Around the turn of the century<br />

passengers alighting at St Leonards were confronted<br />

by a eucalyptus forest. The red, white and blue<br />

gums, all in flower, combined with the sweet aromas<br />

from the citrus orchards. The suburb was named to<br />

honor English statesman Thomas Townshend, Viscount<br />

Sydney of St Leonards.<br />

Then and<br />

Now<br />

Page 3


St. Leonards, resurrected<br />

Chandos Street<br />

Atchison Street<br />

Pacific Hwy<br />

Albany Street<br />

Map obtained from North Sydney<br />

Council web site<br />

North Sydney Local Government Area Statistical<br />

data<br />

The North Sydney Council Local Government area, covering<br />

10 sq. kilometers, incorporates a Central Business District<br />

(CBD) for commercial use and two high-density mixed-use<br />

centers (St Leonards and Milsons Point).<br />

There are also established and emerging main streets, and<br />

diverse residential areas, in which 86% of the population<br />

(which the Preliminary Estimated Residential Population for<br />

2006 gives as 61,401) is over the age of 18. While 42% are<br />

in registered or de facto marriages, 20% (twice the Sydney<br />

Statistical Division's [SSD] average) live alone. The population<br />

may be described as wealthy, with over 35% earning<br />

more than $1000 per week, according to the council’s website.<br />

The population is highly mobile. Nearly half of all residents<br />

rent and, over a five-year period, over 65% move to a new<br />

address. The dwelling density is higher than in most other<br />

parts of Sydney and is increasing. 71% of residents live in<br />

medium-density housing (units, townhouses, semis and terraces)<br />

compared to the SSD's 29%.<br />

St Leonards Town Centre<br />

The area described is bordered by the Pacific Hwy to the<br />

south, Chandos Street to the North, Herbert Street to the<br />

west and Oxley Street to the east. This report concentrates<br />

on this area named: St Leonards Town Centre.<br />

Under North Sydney LEP 2001, this area is substantially situated<br />

within Mixed Use Zone. The zoning encourages a diverse<br />

range of living, employment, recreational and social opportunities.<br />

It aims to create a vibrant neighborhood centers with<br />

safe, high quality urban environment with residential amenity,<br />

and to maintain existing commercial space and allow residential<br />

development in mixed use buildings with non residential<br />

uses at the lower levels and residential apartments above.<br />

St Leonards Town Centre is linked to the city and other part of<br />

Sydney Region by rail, bus and road. Existing community facilities<br />

meet the center's working and resident population, visitors<br />

and residents of nearby neighborhoods, in terms of wellbeing,<br />

culture and recreation; and add to the diversity and<br />

activity of the centre. Public transport, walking and cycling, is<br />

the main form of access to the St Leonards Town Centre.<br />

Parking is adequate; and managed in a way that maintains<br />

pedestrian safety, the quality of public space and built form,<br />

and minimum traffic generation.<br />

Building Heights and Commercial Floor<br />

Space Ratios<br />

The highest point for the Mixed Use Zone is starting at the<br />

railway station with two existing Towers: Forum and Forum<br />

West, the building height then cascades down to towards Oxley<br />

Street. The most recent developments have been 40, 33<br />

and 26 meters high buildings. The plan and table above show<br />

the deferent requirements of FSR for commercial components<br />

in each section of St Leonards Town Centre.<br />

Page 4


Major New Developments<br />

For the past five years many new Mixed Use developments have been<br />

completed and there are few more approved; and some are still on the<br />

drawing board. Clearly, this concept of mixed use has worked very well<br />

in St Leonards. The apartments sold very well from 2002 to 2004. however,<br />

sales since have been very slow. Some owners have been forced<br />

to sell by their financiers as they could not afford the cost of retaining the<br />

property as prices for near new properties fell in 2005 and 2006. Prices<br />

have now returned to pre 2002 levels and rents are much higher hence<br />

the gross returns at times exceed 5%.<br />

St. Leonards, resurrected<br />

Arden, 48 Atchison St.<br />

Commercial spaces have generally struggled all along, many of these<br />

new buildings have about two levels of commercial space with a small<br />

component of retail on the ground floor. Prices have fallen and sales<br />

have come to a standstill. It will take some time before the available<br />

space is taken up. The following table contains some of the buildings<br />

containing residential units.<br />

Building name Address Residential units Commercial units<br />

Nexus 15 Atchison St 88 14 lots<br />

Arden 48 Atchison St 105 11 lots<br />

Forum West,<br />

3 Herbert St.<br />

Forum (Low tower) 1 Sergeants Lane 333 C o m m e r c i a l &<br />

Forum ( High tower) 151 retail centre<br />

Forum West 3 Herbert St 291 as above<br />

Linea 2-4 Atchison St 100 Ground shop + 1 level<br />

Habitat 11 Chandos St 79 8 lots<br />

Aria 38-46 Albany St 49 2 levels<br />

Nexus, 15<br />

Atchison St<br />

Abode 599 Pacific Hwy 197 2 levels<br />

Trinity 1-5 Albany St 85 8 lots<br />

There are approximately 1500 apartments contained in the above list,<br />

these buildings were completed over the past two to five years. There<br />

have been more recent smaller buildings completed not included above.<br />

Over the past two years there has been a small number of smaller flat<br />

construction taking place due to the downturn in the market. However,<br />

very recently, a new one is under construction in 45-49 Chandos Street<br />

(see photo) and another two major buildings have been approved by<br />

North Sydney Council in Atchison Street.<br />

New property is attractive, as the supply has virtually stood still for the<br />

past two years; and on the other side, the demand is increasing: many<br />

more investors are returning to the residential market in St Leonards in<br />

the 2nd half of this year, encouraged by the strength of the rental market<br />

and the relatively low prices for quality modern apartments.<br />

Under construction<br />

45-49 Chandos St.<br />

Interestingly, owner occupiers and more particularly first time entrants<br />

are constituting a good portion of buyers. Young, educated Generation Y<br />

are taking full advantage of the First Home Benefits (see Tania’s Article);<br />

saving thousands on their entry costs, buying good property with due<br />

diligence.<br />

This level of activity will inevitability put pressure on prices over the next<br />

12-24 months if it is sustained, but for now there are good value properties<br />

on offer for those with an eye for good property.<br />

Page 5


Taxation Update<br />

Record Keeping<br />

You need to keep detailed records of all rental income<br />

and expenses and also when you buy and sell an investment<br />

property.<br />

Martin Dickey<br />

B.Com F.Fin CFP CA<br />

<strong>Spring</strong> is in the air and taxpayers are cleaning out records<br />

to prepare their tax returns.<br />

Once again rental properties are back on the watch list for<br />

the Australian Tax Office (ATO).<br />

The ATO has reported the results from their compliance<br />

activities on rental properties shows that taxpayers are<br />

still claiming incorrect rental property deductions. Approximately<br />

90% of the returns reviewed by the ATO were<br />

amended resulting in $7 million additional revenue for the<br />

ATO.<br />

The following outlines some of the main problem areas for<br />

taxpayers.<br />

Keeping detailed records is the best form of defense<br />

against the ATO.<br />

Records of your rental income and expenses must be<br />

kept for five years from the date your income tax return<br />

is lodged.<br />

If you dispose of your property during the year details<br />

of the costs of purchasing and selling your property<br />

must also be kept for five years.<br />

Expenses deductible over a number<br />

of years<br />

Expenses deductible over a number of years include<br />

• Borrowing expenses<br />

• Depreciation of new equipment etc<br />

• Capital works deductions.<br />

Common Errors<br />

The common errors highlighted by the ATO include:<br />

• Claiming deductions when the property was not<br />

available for rent;<br />

• Claiming deductions for a full year when the<br />

property was available for rent for only part of<br />

the year;<br />

• Claiming initial repairs or renovation costs as<br />

repairs;<br />

Travel Expenses<br />

Claiming travel expenses for the annual inspection of<br />

the unit in Paris will also come under close scrutiny.<br />

The ATO is deliberately vague on this area so as not to<br />

open a flood gate of claims but detailed records need<br />

to be maintained of meetings, work done etc.<br />

Where travel is also for private purposes you may<br />

need to apportion any expenses.<br />

For more detailed assistance in audit proofing your<br />

rental property deductions please contact the team at<br />

Genesis.<br />

• Incorrectly claiming the legal expenses on buying<br />

and selling a property;<br />

• Incorrectly claiming travel to inspect properties.<br />

• Incorrectly claiming interest costs.<br />

Page 6


Repairs, urgent or not<br />

Kim Phuong<br />

Manager, St Leonards<br />

If the landlord does not act in a reasonable time frame<br />

to fix an urgent repair then the tenant can arrange to fix<br />

the problem by spending up to $500 in order to do so.<br />

The landlord must then reimburse the tenant within 14<br />

days of receiving written notification. This however is<br />

provided that:<br />

Although landlords have an obligation under the Residential<br />

Tenancy Act to keep the property in a reasonably<br />

clean and fit place to live maintaining the property to a<br />

reasonable standard. It is also beneficial for landlords to<br />

understand the importance of addressing all repairs in a<br />

timely manner whether they are urgent repairs or general<br />

repairs. In doing so it limits the damage and cost, maintains<br />

the property as well as keeps the tenant happy.<br />

This more than likely will result in fewer turnovers in tenancies.<br />

Urgent Repairs<br />

The Act classifies a repair as urgent when something<br />

breaks that may make the premises unfit to live in or<br />

cause a potential safety risk or interrupt access to water,<br />

gas or electricity supplies. It goes on to list urgent repairs<br />

as follows:<br />

• the damage was not caused as a result of a<br />

breach of the lease agreement by the tenant<br />

and<br />

• the tenant gives or makes a reasonable attempt<br />

to give the landlord notice of the damage<br />

and<br />

• the tenant gives the landlord a reasonable<br />

opportunity to make the repairs and<br />

• the tenant makes a reasonable attempt to<br />

have any appropriate tradesperson named in<br />

the lease agreement make the repairs and<br />

• the repairs are carried out where appropriate<br />

by licensed or properly qualified persons and<br />

• the tenant as soon as possible gives or tries<br />

to give the landlord written details of the repairs,<br />

including the cost and the receipts for<br />

anything the tenant pays.<br />

• a burst water service<br />

• a blocked or broken lavatory system<br />

• a serious roof leak<br />

• a gas leak<br />

• a dangerous electrical fault<br />

• flooding or serious flood damage<br />

• serious storm or fire damage<br />

• a failure or breakdown of the gas, electricity or<br />

water supply to the premises<br />

• a failure or breakdown of any essential service<br />

on the premises for hot water, cooking, heating<br />

or laundering<br />

• any fault or damage that causes the premises<br />

to be unsafe or not secure<br />

General Repairs<br />

Repairs that fall under general repairs are all other repairs<br />

that are not urgent. These occur more regularly<br />

however they still need to be addressed e.g. dishwasher<br />

not working.<br />

Property Managers usually have a system in place<br />

where all repairs are logged and the progress is monitored<br />

until completion. This allows the manager to ensure<br />

that they do not overlook the problem and assist in<br />

reducing the time spent, therefore reduce the possible<br />

risks associated with it. Only qualified trades people<br />

who are efficient and are price competitive are given<br />

the instructions to further save time and save money for<br />

the landlord. Also a limit of expenditure is usually<br />

agreed upon between the Property Manager and the<br />

landlord to spend on repairs without having to seek instructions<br />

from the landlord.<br />

If an agent finds that there is a problem during a routine<br />

inspection then they would notify the landlord and have<br />

it fixed before either the tenant notifies them or it<br />

causes more damage. It also allows the agent the opportunity<br />

to advise the landlord of what improvements<br />

can be made in the property.<br />

Page 7


For Sale<br />

12a01/93 Pacific Highway, North Sydney<br />

Great location in the Heart of North Sydney CBD with views of the<br />

Sydney Harbour Bridge. Situated in a near new security building, this<br />

two bedroom, two bathroom apartment offers internal laundry, airconditioning,<br />

and parking. Modern life style, short distance to Greenwood<br />

Plaza, trains, bus, shops & restaurants.<br />

Asking Price: $690,000<br />

Viewing: by Appointment<br />

Details: Milsons Point Office ph: 9956 6500<br />

1004/93 Pacific Highway, North Sydney<br />

This stylish one bedroom apartment is located in a security building in<br />

a prime position at North Sydney's CBD. This apartment features a<br />

modern kitchen and bathroom with attention to detail. One bedroom<br />

apartment offers reverse-cycle air conditioning and an internal laundry<br />

equipped with combined washing machine and dryer. Minutes<br />

away from cafes, shops, gym & transport.<br />

Asking Price: $450,000<br />

Viewing: by Appointment<br />

Details: Milsons Point Office ph: 9956 6500<br />

703/93 Pacific Highway, North Sydney<br />

Ultra modern, small one bedroom apartment in a security building in a<br />

prime location at North Sydney CBD. Close to North Sydney station.<br />

Fully integrated air conditioning, kitchen with granite bench tops.<br />

Equipped with an internal laundry with washing machine/dryer, also a<br />

dishwasher and refrigerator. Offered fully furnished; rent at $380 pw.<br />

Asking Price: $298,000<br />

Viewing: by Appointment<br />

Details: Milsons Point Office ph: 9956 6500<br />

17B/70 Alfred Street, Milsons Point<br />

Grandview is a prestige building near Milsons Point station. This large<br />

one bedroom apartment is on the 17th floor. Parking is provided by a<br />

large lockup garage. Offered fully furnished and leased at $525 per<br />

week.<br />

Asking Price: $500,000<br />

Viewing: by Appointment<br />

Details: Milsons Point Office ph: 9956 6500<br />

403/28 West Street, North Sydney<br />

Modern Building on the Edge of North Sydney with indoor pool and<br />

gym. Fourth floor east facing apartment with 106 square meters and<br />

parking and storage. Two balconies the main is large and private with<br />

uninterrupted district views.<br />

Asking Price: $630,000<br />

Viewing: by Appointment<br />

Details: Milsons Point Office ph: 9956 6500<br />

Page 8


For Sale<br />

101/15 Atchison Street, St. Leonards<br />

Massive modern studio/1 bedroom in the heart of St Leonards. The<br />

property features spacious open plan living, beautiful kitchen with<br />

marble bench top, polished timber floor boards & internal laundry.<br />

Building offers security and gym. Leased at $330 per week.<br />

Asking Price: $319,000<br />

Viewing: by Appointment<br />

Details: St Leonards Office ph: 9906 8442<br />

408/2-4 Atchison Street, St. Leonards<br />

Extra Large one bedroom unit + open sturdy room + parking in a security<br />

building facing north. The unit features quality modern kitchen<br />

and bathroom, internal laundry, air-conditioning unit, mirror built-in<br />

wardrobe and two balconies.<br />

Asking Price: $398,000<br />

Viewing: by Appointment<br />

Details: St Leonards Office ph: 9906 8442<br />

303/48 Atchison Street, St. Leonards<br />

Arden is one of St Leonards newest and most interesting buildings;<br />

modern and exciting with security and gym. This two bedroom apartment<br />

has a northern aspect. Two well-appointed bathrooms, internal<br />

laundry and a delightful kitchen, large living area to accommodate<br />

modern living environment. Undercover secure parking provided for<br />

on title.<br />

Asking Price: $535,000<br />

Viewing: by Appointment<br />

Details: St Leonards Office ph: 9906 8442<br />

608/88 Berry Street, North sydney<br />

This East facing one bedroom apartment with car space has great<br />

Careening Cove water views. Modern kitchen & bathroom, internal<br />

laundry, air conditioning, built-ins and balcony in a security building.<br />

Located in the heart of North Sydney, close to transport and all<br />

amenities. Offered fully furnished and leased at $450 per week.<br />

Asking Price: $495,000<br />

Viewing: by Appointment<br />

Details: St Leonards Office ph: 9906 8442<br />

45-49 Chandos Street, St Leonards<br />

Preliminary advertisement; this building is under construction, it will<br />

comprise of three bedroom plus study apartments and penthouses,<br />

unique concept by only providing large spaces. North facing apartments<br />

have uninterrupted and expansive district views.<br />

Marketing launch is planned for October <strong>2007</strong>, initially only to Tower<br />

& London Clients and tenants. Prices will be from $690,000. For initial<br />

interest and invitation contact John Tower on 0408 216 979.<br />

Page 9


First Home Benefits<br />

Tania Enwiya<br />

(Source: Office of State Revenue, NSW Treasury)<br />

6. Each applicant has entered into a contract for the<br />

purchase of a home or signed a contract to build a<br />

home on or after 1 July 2000. In the case of an<br />

owner-builder, laying of the foundations commenced<br />

on or after 1 July 2000.<br />

7. This is the first time an applicant and/or their spouse/<br />

de facto will receive a grant under the First Home<br />

Owner Grant Act 2000 in any State or Territory<br />

(unless subsequently repaid).<br />

If you are buying or building your first home, you may be<br />

eligible for benefits under the First Home Owner Grant<br />

Scheme and/or the First Home Plus Scheme.<br />

The First Home Owner Grant Scheme is a joint Australian<br />

and NSW Government initiative offering eligible NSW<br />

first home buyers a $7000 grant. The grant applies to residential<br />

dwellings only and does not apply to vacant land.<br />

The First Home Plus Scheme provides exemptions or<br />

concessions on transfer duty and mortgage duty for eligible<br />

NSW first home buyers. This includes vacant land on<br />

which you intend to build your first home.<br />

Both schemes are administered by the Office of State<br />

Revenue (OSR) to help first home buyers in NSW to purchase<br />

or build their first home.<br />

There are no income or assets tests to qualify for the<br />

8. At least one applicant will occupy the home as their<br />

principal place of residence for a continuous period of<br />

six months, commencing within 12 months of settlement<br />

or construction of the home.<br />

How to apply for the First Home Owner<br />

Grant<br />

You can apply for the First Home Owner Grant through<br />

your financial institution or OSR. Applications lodged with<br />

financial institutions will have the grant available for settlement<br />

or for the first draw down on contracts to build.<br />

Applications can only be lodged with OSR after completion<br />

and you are registered on title (if you are purchasing<br />

under a 'Terms Contract' please contact OSR for lodgment<br />

requirements).<br />

Applications must be lodged within 12 months of completion<br />

or settlement of your home.<br />

benefits.<br />

First Home Plus<br />

Business premises, a holiday house or renovations to an<br />

existing home do not qualify for first home benefits.<br />

First Home Owner Grant<br />

The First Home Owner Grant Scheme is available to<br />

people buying or building their first home and who meet<br />

the following eligibility criteria:<br />

1. Each applicant is a natural person and not a company<br />

or trust.<br />

2. At least one applicant is a permanent resident or Australian<br />

citizen.<br />

3. Each applicant must be at least 18 years of age.<br />

4. All applicants and/or their spouse/de facto have not<br />

owned a residential property, jointly, separately or with<br />

some other person, in any State or Territory of Australia<br />

before 1 July 2000.<br />

5. All applicants and/or their spouse/de facto have not<br />

previously owned a residential property jointly, separately<br />

or with some other person in any State or Territory<br />

of Australia, and occupied that property for a continuous<br />

period of at least 6 months.<br />

The First Home Plus Scheme provides eligible purchasers<br />

with exemptions on transfer duty and mortgage duty on<br />

homes valued up to $500 000 and concessions on duty for<br />

homes valued between $500 000 and $600 000.<br />

Eligible purchasers buying a vacant block of residential land to<br />

build their home on will pay no duty on vacant land valued up<br />

to$300 000, and will receive concessions on duty for vacant<br />

land valued between $300 000 and $450 000.<br />

To qualify for First Home Plus you must meet the criteria listed<br />

below:<br />

• The contract and the transfer must be for the purchase<br />

of the whole of the property.<br />

• All purchasers must be 'eligible purchasers'.<br />

• At least one eligible purchaser must occupy the<br />

home as their principal place of residence for a continuous<br />

period of six months, commencing within 12<br />

months of completion of the agreement.<br />

• An 'eligible purchaser' is a natural person (ie not a<br />

company or trust) at least 18 years of age who has<br />

not, and whose spouse/de facto has not:<br />

• At any time owned (either solely or with some one<br />

else) residential property in Australia other than property<br />

owned solely as trustee or executor<br />

Page 10


• Previously received an exemption or concession under<br />

First Home Plus.<br />

Note: if all purchasers are not 'eligible purchasers' you may still<br />

qualify for a concession under First Home Plus One.<br />

From 1 May <strong>2007</strong>, First Home Plus One allows eligible purchasers<br />

to buy property with other parties and still receive a<br />

concession. To qualify the eligible purchasers must buy at least<br />

50 per cent of the property. The value limits and purchasers<br />

eligibility criteria of First Home Plus apply.<br />

Transfer duty is calculated with reference to the proportion of<br />

the property purchased by other parties. However, this interest<br />

is disregarded if it is not more than five per cent.<br />

Full mortgage duty concessions and exemptions apply to mortgages<br />

given to assist the purchase of property under First<br />

Home Plus One.<br />

Note: if the first home buyer's spouse has previously owned a<br />

home or received a benefit under First Home Plus, the first home<br />

buyer will not be entitled to First Home Plus One, regardless of<br />

whether or not the spouse is also a purchaser.<br />

1 Calculating the concessions on duty<br />

The tables below give a guide to the concession applicable.<br />

You can calculate the exact amount of your concession<br />

using the First Home Plus calculator on OSR's website.<br />

Homes<br />

You do not have to pay duty on the purchase of a home up to<br />

$500 000. To calculate the First Home Plus concession on a<br />

home between $500 000 and $600 000 multiply the purchase<br />

price by 0.2249 and subtract $112 450.<br />

Example calculations:<br />

Purchase<br />

price ($)<br />

Usual duty ($)<br />

First Home<br />

Plus duty<br />

($)<br />

Savings<br />

($)<br />

250 000 7 240 7 240<br />

300 000 8 990 8 990<br />

350 000 11 240 11 240<br />

400 000 13 490 13 490<br />

450 000 15740 15 740<br />

500 000 17 990 17 990<br />

525 000 19 115 5 623 13 493<br />

550 000 20 240 11 245 8 995<br />

575 000 21 365 16 868 4498<br />

First Home Benefits<br />

2 Calculating the concessions on mortgage<br />

duty<br />

To be eligible for a concession on mortgage duty the<br />

initial amount you borrow under the mortgage must<br />

not exceed $600 000 for a dwelling or $450 000 for<br />

vacant land. If you are purchasing vacant land and<br />

your mortgage includes an amount for building a private<br />

dwelling you can take out a mortgage for up to<br />

$600 000.<br />

Mortgage duty is $5, plus a further $4 for every<br />

$1000, or part, by which the amount secured exceeds<br />

$16 000. To calculate your concession, discount the<br />

mortgage duty payable by the percentage figure<br />

shown over the page. You can also calculate the exact<br />

amount of your concession using the First Home<br />

Plus calculator on OSR's website.<br />

Less than $500 000 100%<br />

More than $500 000 but not more than $535 000 75%<br />

More than $535 000 but not more than $565 000 50%<br />

More than $565 000 but less than $600 000 25%<br />

How to apply for First Home Plus<br />

Submit your First Home Plus application together with<br />

your mortgage document at the same time you lodge<br />

your Agreement for Sale/Transfer for stamping by<br />

OSR. Your application must be accompanied by all<br />

supporting documents.<br />

You must have already exchanged contracts to purchase<br />

your first home or vacant land.<br />

If you do not submit your mortgage document at the<br />

time of lodgement you can still apply for the mortgage<br />

duty exemption or concession at a later stage. You<br />

will need to consult your lender about this.<br />

First Home Benefits application forms<br />

You can print an application form for both the First<br />

Home Owner Grant and First Home Plus from<br />

www.osr.nsw.gov.au, phone and ask to have an application<br />

posted, or send an email to<br />

first.home.benefits@osr.nsw. gov.au. Forms are also<br />

available from your solicitor or conveyancer.<br />

False claims<br />

There are substantial penalties for knowingly making<br />

false or misleading statements in connection with an<br />

application for first home benefits.<br />

OSR conducts investigations and compliance checks<br />

to ensure the grant and duty exemption/concession<br />

are given only to those applicants who are entitled to<br />

receive them.<br />

OSR audits claims with current and historical data<br />

held by other State and Territory agencies and commercial<br />

organizations.<br />

600 000 22 490 no discount<br />

Page 11


Property Prices Review<br />

Australian Capital Cities, Median House prices<br />

(Source: Real Estate Market Facts)<br />

in $1,000 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07<br />

Sydney 559 558 553 544 538 531 525 521 520 521 521 521 522<br />

Melbourne 376 370 366 359 357 358 358 361 364 370 375 381 394<br />

Brisbane 295 303 306 306 307 309 312 316 320 325 330 335 345<br />

Adelaide 246 254 261 267 271 274 276 277 280 283 289 293 299<br />

Perth 247 251 258 267 277 291 307 325 352 384 414 438 452<br />

Canberra 366 365 365 366 364 367 368 369 373 377 382 387 413<br />

Hobart 228 242 252 261 263 266 269 271 276 282 285 288 296<br />

Darwin 237 249 257 262 269 279 296 311 328 350 360 374 385<br />

600<br />

Houses<br />

550<br />

500<br />

450<br />

400<br />

350<br />

300<br />

250<br />

200<br />

Jun-04<br />

Sep-04<br />

Dec-04<br />

Mar-05<br />

Jun-05<br />

Sep-05<br />

Dec-05<br />

Mar-06<br />

Jun-06<br />

Sep-06<br />

Dec-06<br />

Mar-07<br />

Jun-07<br />

Sydney<br />

Melbourne<br />

Brisbane<br />

Adelaide<br />

Perth<br />

Canberra<br />

Hobart<br />

Darw in<br />

There has been a significant<br />

upward movement in moving<br />

annual median prices in every<br />

capital city, except Sydney,<br />

with trend prices in these<br />

seven capital cities at their<br />

highest prices ever. Sydney<br />

prices still remain subdued.<br />

Sydney prices have hardly<br />

changes over the past 12<br />

months; and for the past three<br />

years they have decreased by<br />

6.6%. Perth prices however,<br />

have increases by 83% over<br />

the same period.<br />

Australian Capital Cities, Median Unit prices<br />

(Source: Real Estate Market Facts)<br />

in $1,000 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07<br />

Sydney 377 377 376 373 370 368 364 362 361 358 359 356 358<br />

Melbourne 293 289 291 293 295 298 299 303 306 312 315 319 328<br />

Brisbane 227 232 235 236 238 245 252 259 268 273 276 282 290<br />

Adelaide 185 189 197 202 205 210 208 211 214 217 219 221 227<br />

Perth 192 196 203 210 220 233 244 258 280 302 324 341 353<br />

Canberra 287 285 289 293 296 301 302 303 301 302 304 307 318<br />

Hobart 177 181 192 203 212 215 209 209 222 225 225 226 230<br />

Darwin 163 172 176 185 188 199 216 232 248 255 269 279 282<br />

400<br />

350<br />

300<br />

250<br />

200<br />

150<br />

Jun-04<br />

Sep-04<br />

Dec-04<br />

Mar-05<br />

Jun-05<br />

Sep-05<br />

Dec-05<br />

Mar-06<br />

Jun-06<br />

Sep-06<br />

Dec-06<br />

Mar-07<br />

Jun-07<br />

Sydney<br />

Melbourne<br />

Brisbane<br />

Adelaide<br />

Perth<br />

Canberra<br />

Hobart<br />

Darwin<br />

Units<br />

Unit price moving annual trend<br />

as with house prices, have<br />

shown strong increases; with<br />

the highest point ever reached<br />

in the June quarter in every<br />

city except Sydney. Sydney's<br />

unit prices have fallen over 5%<br />

over the past three years,<br />

whereas Perth units have increased<br />

by 84% over the same<br />

period. Darwin has increased<br />

by 73%, who would have predicted<br />

this?<br />

Page 12


Lower North Shore Median House Prices<br />

(Source: Property Focus REINSW)<br />

Local Gov Area Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07<br />

Mosman 1630 1562 1604 1788 1615 1679 1780 1675 1711 1802 1558 1675 1750<br />

North Sydney 893 851 903 971 924 931 930 907 950 1071 920 998 925<br />

Willoughby 946 897 880 1012 938 934 948 1007 946 981 903 1075 1131<br />

Sydney General 520 500 505 511 495 517 521 516 525 520 524 516 525<br />

2000<br />

1800<br />

1600<br />

1400<br />

1200<br />

1000<br />

800<br />

600<br />

400<br />

Jun-04<br />

Sep-04<br />

Dec-04<br />

Mar-05<br />

Jun-05<br />

Houses, Lower North Shore<br />

T<br />

Sep-05<br />

Dec-05<br />

Mar-06<br />

Jun-06<br />

Sep-06<br />

Dec-06<br />

Mar-07<br />

Jun-07<br />

Mosman<br />

North Sydney<br />

Willoughby<br />

Sydney General<br />

Houses<br />

Houses in Mosman have<br />

fluctuated between 1.6m<br />

to 1.8 million over the past<br />

three years, there has<br />

been an improvement<br />

over the past two quarters.<br />

Willoughby is looking very<br />

strong on the back of another<br />

good quarter in<br />

March. North Sydney<br />

houses are struggling,<br />

down this quarter back to<br />

the same value as June<br />

2005.<br />

Lower North Shore Median Unit Prices<br />

(Source: Property Focus REINSW)<br />

Local Gov Area Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07<br />

Mosman 513 485 479 518 505 533 500 425 500 456 500 515 500<br />

North Sydney 480 484 520 512 505 510 490 495 513 500 490 497 545<br />

Willoughby 441 423 431 440 423 468 466 456 465 450 459 445 475<br />

Sydney General 385 370 370 380 370 364 363 358 357 359 351 348 361<br />

Units, Lower North Shore<br />

Units<br />

600<br />

550<br />

500<br />

450<br />

400<br />

350<br />

300<br />

250<br />

200<br />

Jun-04<br />

Sep-04<br />

Dec-04<br />

Mar-05<br />

Jun-05<br />

Sep-05<br />

Dec-05<br />

Mar-06<br />

Jun-06<br />

Sep-06<br />

Dec-06<br />

Mar-07<br />

Jun-07<br />

Mosman<br />

North Sydney<br />

Willoughby<br />

Sydney General<br />

In contrast to houses,<br />

North Sydney units have<br />

leapt up this quarter, this<br />

could be due to the recent<br />

completion of high-rise<br />

buildings in Milsons Point.<br />

Mosman is down to the<br />

levels of June 2005.; Willoughby<br />

units are up to<br />

record heights, although<br />

there may be an adjustment<br />

to these figures<br />

forthcoming.<br />

Rents<br />

(Source: Property Focus REINSW & Tower & London)<br />

Weekly Rents<br />

Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07<br />

18 month<br />

change<br />

Inner Sydney<br />

(city & suburbs close by) 1Br Unit 380 380 380 380 400 380 0.0%<br />

Upper Quartile (25% of prices 2Br Unit 470 470 470 490 500 430 -8.5%<br />

are higher than the upper quartile) 2Br house 450 450 450 494 485 500 11.1%<br />

3Br house 625 620 625 650 680 696 11.4%<br />

Tower & London Protfolio Milsons Point office 516 524 528 535 537 528 2.3%<br />

St Leonards office 402 412 416 421 454 465 15.7%<br />

Page 13


Tower & London June Quarter Sales<br />

Suburb Address Sale Price Bedrooms Bathrooms Parking<br />

Crows Nest 1/187 West St 430,000 2 1 1<br />

North Sydney 1003/37-39 McLaren St 1,380,000 3 2 2<br />

311/88 Berry St 450,000 1 1 1<br />

St Leonards 607/15 Atchison St 530,000 2 2 1<br />

607/48 Atchison St 550,000 2 2 1<br />

Milsons Point 406/38 Alfred St 610,000 2 2 1<br />

505/38 Alfred St 515,000 2 2 1<br />

904/38 Alfred St 780,000 2 2 1<br />

202/12 Glen St 680,000 2 2 1<br />

1203/12 Glen St 675,000 2 2 1<br />

Tower & London June Quarter Leases<br />

Suburb Address Rent pw Furnished Bedrooms Parking<br />

Camperdown 410/1-3 Larkin St 330 no 1 nil<br />

Crows Nest 101/250 Pacific Hwy 400 no 2 1<br />

Kirribilli 41/21 Elamang Ave 430 yes 1 nil<br />

27/33 Fitzroy St 275 yes Studio nil<br />

North Sydney 608/88 Berry St 450 yes 1 1<br />

35/106 High st 395 yes 1 1<br />

503/93 Pacific Hwy 330 no 1 nil<br />

802/93 Pacific Hwy 310 no 1 nil<br />

14/28 West St 650 no 3 2<br />

503/28 West St 570 no 2 1<br />

Milsons Point 204/38 Alfred St 550 yes 1 1<br />

302/38 Alfred St 620 no 2 1<br />

504/38 Alfred St 620 no 2 1<br />

98/48 Alfred St 500 yes 1 1<br />

108/48 Alfred St 480 yes 1 1<br />

71/94-96 Alfred St 850 no 3 2<br />

16/98 Alfred St 450 no 1 1<br />

806/8 Glen Street 420 no 1 nil<br />

802/12 Glen St 580 yes 1 1<br />

1005/12 Glen St 360 no 1 nil<br />

1108/12 Glen St 340 no 1 nil<br />

1205/12 Glen St 580 no 2 1<br />

1508/30 Glen St 550 yes 1 1<br />

1608/30 Glen St 500 yes 1 nil<br />

1702/30 Glen St 750 no 3 1<br />

2013/30 Glen St 320 no Studio nil<br />

2113/30 Glen St 330 no Studio nil<br />

10/1 Harbour View Cr. 850 no 3 2<br />

14/1 Harbour View Cr. 1250 yes 3 2<br />

21/7 Northcliff St 430 yes Studio nil<br />

Mosman H310/55 Harbour St 400 yes 1 1<br />

Neutral Bay 401/206-210 Ben Boyd Rd 375 no 1 1<br />

33A/8 Hardie Street 460 yes 1 1<br />

18/143 Kurraba Rd 285 no Studio nil<br />

St Leonards 218/38-46 Albany St 550 no 2 1<br />

1107/77 Berry St 550 yes 1 1<br />

509/15 Atchison St 380 no 1 1<br />

601/15 Atchison St 410 no 1 1<br />

905/15 Atchison St 670 no 3 1<br />

910/48 Atchison st 450 yes 1 1<br />

1106/48 Atchison St 730 no 3 2<br />

1118/1 Sergeants Lane 300 no 1 nil<br />

Wollstonecraft 5D/2 King St 630 no 2 1<br />

7/5 Rocklands Rd 380 no 1 1<br />

54/13-17 Sinclair St 380 yes 1 1<br />

Page 14


Current Rentals<br />

$1,200 per week<br />

2001/38 Alfred St. Milsons Point<br />

This large three bedroom unit occupies<br />

the highest location in the<br />

best positioned building in Milsons<br />

Point. With a wrap around balcony<br />

it offers views of the harbour & city.<br />

Access to resort facilities such as<br />

pool, gym, spa & sauna. Also has<br />

double car space.<br />

$1,200 per week<br />

1905/55 Lavender St. Milsons Pt.<br />

Mirvac has transformed this building<br />

to a masterpiece. On the 19th<br />

floor and enjoying distant harbour<br />

and district views. This is an extra<br />

large unit with two bedrooms, two<br />

bathrooms and fully furnished.<br />

Secure parking space and close to<br />

transport.<br />

$550 per week<br />

3/8 Munro St. McMahons Point<br />

At the bottom end of McMahons<br />

Point, surrounded by public reserves.<br />

Two well proportioned<br />

bedrooms with built-ins, one conveniently<br />

located bathroom with<br />

water and energy efficient fixtures.<br />

Undercover parking.<br />

$480 per week<br />

1805/30 Glen St. Milsons Point<br />

Luxurious 1 bedroom apartment<br />

with modern appliances including<br />

fridge, microwave, washer and<br />

dryer. Colonnades offers 24 hours<br />

concierge, modern pool and gym.<br />

Close to all transport, cafes and<br />

restaurants.<br />

$600 per week<br />

703/12 Glen St. Milsons Point<br />

This modern two bedroom, two<br />

bathroom apartment offers builtins,<br />

internal laundry along with a<br />

spectacular view from the balcony<br />

over looking Lavender Bay. Located<br />

in the popular Pavilion Building<br />

equipped with pool & gym facilities.<br />

$450 per week<br />

901/48 Atchison St. St. Leonards<br />

Tastefully furnished and equipped<br />

one bedroom apartment. It offers<br />

spacious open plan living area with<br />

combined lounge, dining and study<br />

areas, north east facing balcony,<br />

queen sized bedroom with built<br />

ins, modern kitchen with stainless<br />

steel appliances.<br />

$480 per week<br />

115/48 Alfred St. Milsons Point<br />

Large fully furnished one bedroom<br />

apartment in modern security<br />

block. Complete with balcony, internal<br />

laundry, pool, gym and security<br />

parking. Minutes to shops<br />

and conveniently located close to<br />

all transport.<br />

$620 per week<br />

703/15 Atchison St. St. Leonards<br />

Nexus, located near the heart of St<br />

Leonards CBD and Crows Nest<br />

Shopping Strip. Modern two bedroom<br />

two bathroom fully furnished<br />

apartment plus study with security<br />

parking, internal laundry, built ins,<br />

and a north facing balcony. Access<br />

to gym facilities.<br />

$500 per week<br />

709/8 Glen St. Milsons Point<br />

This stunning fully furnished one<br />

bedroom apartment is located on<br />

the seventh floor of the Azure<br />

building which offers security and<br />

gym facilities. The balcony offers<br />

slight Harbour Bridge glimpses yet<br />

is still very private.<br />

$350 per week<br />

13/187 West St. Crows Nest<br />

One bedroom unit with sunny balcony<br />

in a security building. Builtins,<br />

new carpet & blinds and in<br />

good condition. This apartment<br />

also has a lock-up garage. Conveniently<br />

located near public transport.<br />

$900 per week<br />

1003/38 Alfred St. Milsons Point<br />

Modern three bedroom, two bathroom<br />

apartment perched on the<br />

best side of the building enjoying<br />

outstanding views of the Harbour<br />

Bridge & city. Security building,<br />

balcony, internal laundry, white<br />

goods included, parking, pool,<br />

gym, spa & sauna facilities.<br />

Page 15<br />

$680 per week<br />

2003/3 Herbert St. St. Leonards<br />

Spacious and fully furnished two<br />

bedroom and two bathrooms unit<br />

with internal laundry & ample cupboard<br />

space, reverse cycle air<br />

conditioning, and balcony from<br />

main bedroom and living area.<br />

Secure parking, concierge, pool &<br />

gym facilities.


Tower & London staff<br />

John Tower<br />

Property Valuer , CEO<br />

John Tower, the founder of the business,<br />

is a licensed Real Estate Agent and a<br />

Registered Property Valuer. His qualifications<br />

include Diploma in Valuation, Advanced<br />

Diploma in Real Estate Agency<br />

and a Masters Degree in Marketing Management.<br />

John's hands-on approach provides personal and long-term<br />

commitment to his clients.<br />

Rosalind Oey<br />

Client Liaison & Registered JP<br />

Rosalind was born in Singapore and<br />

moved to Australia in 1984. Rosalind studied<br />

and worked in the hospitality industry<br />

before making Real Estate her chosen<br />

career since 1997. Rosalind is a licensed<br />

Real Estate Agent and her focus is customer<br />

service.<br />

Kim Phuong<br />

Management Administration - St Leonards<br />

Kim has completed a Bachelor of Commerce<br />

Degree majoring in Tourism Management.<br />

She had three years experience<br />

in the customer service industry before<br />

joining the team at Tower & London in<br />

early 2001, now manages the St Leonards<br />

office.<br />

Mandy Lai<br />

Accounts/Administration - Milsons Point<br />

Mandy was born in Hong Kong and came<br />

to Australia with her family when she was<br />

eight years old. She has completed a<br />

Bachelor Degree in Social Work and joined<br />

Tower & London to pursue her career in<br />

real estate and currently studying Certificate<br />

III in Property.<br />

Tania Enwiya<br />

Property Management - St Leonards<br />

Tania has completed an Advanced Diploma<br />

of Property Valuation. She is becoming<br />

a licensed real estate and registered<br />

property valuer and wants to get her<br />

masters in Urban Estate & Development.<br />

She has been working in the property<br />

industry for four years and have had two<br />

years experience in property valuation.<br />

Ewald Ler’che<br />

Sales Manager<br />

Born in Austria and became an Australian<br />

resident in 1982. Ewald has a Physical<br />

Education background. He competed in<br />

Australian Championships in 1984. In 1988,<br />

he entered a new career working in Real<br />

Estate. He relocated to Sydney in 2000<br />

and recently joined Tower & London as<br />

Sales Manager to continue his career in North Shore Real Estate.<br />

Nicole Mills<br />

Reception - Milsons point<br />

Nicole was born and raised in the Sutherland<br />

shire in Sydney’s south. Since leaving<br />

school Nicole has worked as a receptionist<br />

and in June <strong>2007</strong> joined Tower &<br />

London at reception as a stepping stone<br />

to property management.<br />

Nicole Fynn<br />

Property officer - Milsons point<br />

After completing her HSC, Nicole was a<br />

receptionist for a Commercial Property<br />

Group and this lead her to be passionate<br />

about real estate. She is currently studying<br />

for her Certificate III in Property which she<br />

hopes will further her real estate career.<br />

Page 16


Tower & London offices<br />

Head Office<br />

38 Alfred Street,<br />

Milsons Point NSW 2061<br />

T: (02) 9956 6500<br />

F: (02) 9956 6522<br />

St. Leonards Branch<br />

15 Atchison Street,<br />

St. Leonards NSW 2065<br />

T: (02) 9906 8442<br />

F: (02) 9906 8446<br />

Hong Kong Branch<br />

Suite 1905,<br />

Lippo Centre Tower 2,<br />

89 Queensway, Admiralty<br />

Hong Kong<br />

T: (852) 2918 8788<br />

F: (852) 2918 9808


Useful Resources<br />

Department of Fair Trading<br />

http://www.fairtrading.nsw.gov.au/<br />

P: 9895 0111 F: 9895 0222<br />

Consumer, Trader & Tenancy Tribunal<br />

http://www.fairtrading.nsw.gov.au/cttt.html<br />

P: 1300 135 399 F: 1300 135 247<br />

Real Estate Institute of NSW<br />

http://www.reinsw.com.au/<br />

P: 9264 2343 F: 9267 9190<br />

NSW Department of Lands<br />

http://www.lands.nsw.gov.au/<br />

P: 9228 6666<br />

Office of State Revenue<br />

http://www.dtf.wa.gov.au/cms/osr_index.asp<br />

P: 9262 1100 F: 9226 0834<br />

Real Estate.com.au<br />

http://www.realestate.com.au/<br />

Domain.com.au<br />

http://www.domain.com.au/<br />

Tower & London<br />

http://www.towerlondon.com

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