2007 Spring
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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