Where would you say Western Australia’s unit living/apartment market is currently at?
The property market in general is cyclical. It follows a bell-curve pattern that sees prices peak at the top of the market and level out at the bottom. Investors and market commentators monitor this process carefully to maximise investment potential before an upwards shift occurs. The apartment market is not immune to this cycle and we are currently experiencing a lot of movement from investors. This signals that we might have hit the bottom of the cycle, but also that an expected upturn is likely to take place due to our strengthening economy and record low interest rates.
All this aside, most know that the enduring nature of property means that if you tick the boxes of location, limited supply, quality build and unique design, apartments are likely to hold their value for the long term – regardless of market factors.
Do you think more people are moving into and living in apartments than say, 10 years ago? What traits about apartment living do you think have contributed to this?
When Match started building apartments almost two decades ago, we were conscious of a global shift towards apartment living. There were certainly sceptics that believed Perth would always favour the house and land ‘dream’, but we weren’t so sure. Fast forward eighteen years and our predictions have all come true. There is a definitive lean towards apartment living and awareness of the economic and environmental aspects associated with continuing the urban sprawl. Many are trading that plot of land on the outskirts of the city for lifestyle and location. Apartment living just makes more sense.
What kind of demographic of people are living in apartments in 2019? Is there a mixed variety?
The range of people being attracted to the apartment lifestyle is now as diverse as their reasons for doing so. We see young and upwardly mobile singles and couples wanting to make the most of their proximity to cafes, CBD and nightlife, and we’re also seeing families preferring to raise their children close to the beach rather than in the thick of suburbia. Perhaps the most exciting market group are the downsizers, who are all about creating an idyllic and ‘low maintenance’ lifestyle without moving too far from their families or where they have lived for most of their life.
What future do you see ahead for Western Australia’s apartment market? Do you think it’ll continue to grow, and why is this?
The underlying factors that will continue to support the apartment market include population growth and an increasing market trend towards apartment living. The value-system of the emerging generations will be key for driving demand for new and architecturally appealing apartment designs. As more people gravitate towards apartment living, we will see an increase of amazing spaces. This represents incredibly exciting prospects for individuals as well as the Perth streetscape alike.
We’ve come a long way since the ‘cookie-cutter’ apartment blocks that were primarily built for the investor and rental market. Apartments today are considered architectural spaces that focus on the end user and their varying tastes and preferences.
Just as you would have earlier discerned over the features of a stand-alone house, we are now finding that people are drawn to apartment designs that reflect their personal taste and lifestyle preferences.
The more distinctive, rare and well-located the apartment is, the more value you are intrinsically buying into.
Comments by Lloyd Clark, Managing Director of Match parent company M/Group
Terrace home completion builds momentum for things to comeRead more
As the dust settles on the completion of the first M/31 Terrace Homes by Match, the lifestyle potential within a precinct earmarked to be Perth’s ‘next big thing’ in coastal living begins to reveal itself.
M/31 Terrace Homes by Match is a set of just 16 exclusive three-bedroom beachside terrace homes located in Landcorp’s visionary Shoreline coastal masterplan development at North Coogee.
The newly complete architecturally-designed terrace home is among the first in the area to open its doors and, while the vision and scale of the precinct is still in development infancy, managing director of Match parent company, M/Group, says the occasion resonates a similar period not so long ago in the neighbouring Port Coogee Marina Estate.
“It wasn’t too long ago that Match was celebrating the completion Helm at Port Coogee Marina Estate. It was one of the first completed apartment building at a time when the area looked unfinished. However, it didn’t take long before landscaping, cafes and shops were complete, and the vision took shape. Now Port Coogee Marina is one of Perth’s most sought-after environments.”
Shoreline is located just North of Port Coogee Marina and just South of Fremantle and only 300m from the coastline. It is a secure coastal environment with extensive parkland and landscaping, as well as plans for a beachside plaza with shops, cafés and restaurants.
M/31 Terrace Homes by Match include well appointed open plan layouts that draw design inspiration from surrounding Sheoak trees, sand and limestone; with complete customisation available through M/Group’s personalised building division, M/Construction.
Each terrace home is offered as a house and land package. They integrate indoor and outdoor living with a central courtyard feature that soars across two storeys to maximise light, space and breeze.
“We are thrilled to introduce the first terrace home living environment of its kind at Shoreline and invite people to get a taste of what everyday life could look like,” Mr Clark continued.
“Not only is this amazing location a short walk to the established café strip of South Fremantle, it also represents a very sound financial and lifestyle investment. Who wouldn’t want to live in this beautiful environment.”
Only five lots are currently available at M/31 Terrace Homes by Match and are affordably priced from $585,000. Titles are available and homes are ready to build.
M/31 by Match will host a Grand Opening with its first furnished display terrace home on Saturday 22 June between 1pm – 3pm.
More information can be found at www.m31terracehomes.com.au or contact Match’s experienced Sales Consultants on 0432 660 066.
Trading a 4×2 for the World’s Biggest Swimming PoolRead more
Barry and Jennie had watched their children grow up in their 4×2 Bullcreek home. However, like many others throughout Perth, they decided to trade their big family home for an apartment and chose Form by Match at Port Coogee – an area Barry tells his grandson has the ‘biggest swimming pool called the Indian Ocean’.
Prior to making the move, the couple knew they wanted to stay near Fremantle, although were a little unsure about such a big change.
“We came out and had a look at this site five times. We went to other apartments in the same precinct, but wanted a plan that was quite straight forward with an outlook. We didn’t want to feel claustrophobic,” Barry said.
“What sold us on this place particularly was the position – we’re not over-looked and we’ve got views across the park and the sea – we didn’t actually realise we had sea views until we were about to move in. I think that was the clincher for me.”
The couple moved into one of the many north facing apartments at Form by Match; a boutique 50-apartment complex located just 50metres from Port Coogee Marina and adjacent to parkland.
Designed by reputed Architects, Geoff Warn of Donaldson & Warn, the property was designed to respond to the environment and offer residents an uncompromising lifestyle.
It features a bright, white and timeless interior colour scheme, air conditioning, polished reconstituted stone benchtops and Bosch appliances with breakfast bar.
“I think there are an awful lot of people who live here that have made the same lifestyle change. You can be at the beach and then somebody says, “oh this is so good” and I say, ”yes it is isn’t it”, and then you find out that they’ve done the same thing as you by downsizing and moving here,” Barry continued.
“They often say they’ve bought bikes and like that there are bikeways all the way down to Jervoise Bay, as well as being able to walk into Fremantle. We’ve joined the North Coogee Surf Life Saving Club as social members. It’s got restaurant, bar and music on Sundays, and just up the road in Spearwood there’s the Phoenix Park Shopping Centre and a few other little places we regularly go out to eat. We also go into Fremantle quite a lot.”
“We’ve been told that Coogee Beach was named the second-best beach in Western Australia, and we believe that too because it has so much to go and do; scuba diving, snorkeling and families with their children swimming. No matter what time you go there’s people on the beach, even at eight o’clock at night.”
“(The grandchildren) absolutely love coming down here. They get their ball out and play soccer with their poppy down in the park or they’re down at the beach digging and playing.”
Construction on Form by Match was completed late last year by Match’s in-house construction company, M/Construction, which meant they could achieve a high level of quality control throughout the building process. The project sold over 50% of the apartments prior to completion and is now ‘move in ready’.
“I sat down the with Jennie the other morning and said that I feel so guilty that I haven’t got any gardening to do,” Barry said.
“We sit on the balcony and eat our meals and we just watch the world go by. Neither of us have actually regretted or felt a loss for our last place. We’ve looked forward to moving here and haven’t looked back.”
Form by Match apartments are available in one, two and three-bedroom layouts and are priced from $335,000, $449,000 and $749,000 respectively.
For more information visit www.formbymatch.com.au or call 0432 660 066.
Large Lots Create ‘The Wedge’ At WellardRead more
Construction works are well underway on an exclusive new land development that offers larger and more affordable lots within the established community of Wellard North.
The Wedge by boutique land developer, Monument, is located on one of the last development sites within the sought-after southern community. It is close to public transport, medical facilities, schools and shopping, and incorporates its own playground as well as being surrounded by a Bullrush Nature Reserve.
The development has drawn inspiration from Monument’s previous boutique land estate in Secret Harbour, where the company designed the land to meet a demand from first home buyers and new families wanting to get a foot in the market but not compromise on location or space.
“Our work at Secret Harbour introduced an affordable and attractive home option in an established suburban environment. This, in turn, created a great lifestyle option to those who either lived or rented in the area or wanted to get into the property market without living on the fringes of the city,” he said.
“Our Secret Harbour property was so successful that we had to significantly fast-track the development process and deliver more sites earlier. Our proposition for The Wedge at Wellard is very similar. We are introducing home sites that offer great value in terms of size as well as provide access to a broad range of community facilities. We anticipate market response to The Wedge will be just as positive as it was on our previous development.”
The Wedge is located on Bertram Road and includes just 117 premium residential home sites with a community park, playground and walk trails into the natural bushland.
All lots are designed as affordable ‘A Class’ with no bushfire rating. Their R40 zoning and increased site coverage allowances to 65% of the site means buyers are unrestricted in their scope of home design; allowing them to build exactly what they want on their site of choice.
“The Wedge has been named not merely for its triangular shape, but also for its capacity to slot into an already buoyant community with something new and distinctive,” Mr Wroth continued.
“As a boutique land developer, Monument approaches every opportunity with a considered perspective of how we can take cues from the environment to create something unique. With The Wedge, we believe we have successfully designed a great environment with all the lifestyle features residents are looking for, as well as an offer of great value and space.”
Stage One at The Wedge includes just 17 lots ranging in size from 375sq.m to 450 sq.m with prices starting from just $174,000. Titles are scheduled for mid-2019.
For more information visit www.thewedgewellard.com.au
Quest Apartment Hotel – Ascot – May 2019 Construction ProgressRead more
Commencement of Quest Ascot is now underway.
In our latest construction update, 500m3 of “grey gold” cement has been poured within one day. This raft slab pour forms the building envelope and is an extremely solid foundation for the eight-storey serviced apartments that will be built.
Construction Commences on M/Group’s Second QuestRead more
Construction on a 56 room (112 key) Quest Apartment hotel in Ascot has commenced following the successful completion of a $11.5 million development fund by M/Group and subsequent settlement of the 2,211sq.m development site. It is the second property undertaken by M/Group for the apartment hotel giant, with the first in Joondalup currently nearing completion.
The Quest Apartment Hotel in Ascot is located at 266 Great Eastern Highway, near Perth Airport and enroute to the Perth CBD. Its strategic location is in close proximity to Ascot racecourse, Optus Stadium, Crown Casino, Perth CBD and Perth airport, and is serviced by a road network that will see some 63,000 vehicles pass the site each day.
The property is being constructed by M/Group’s building division, M/Construction, which is currently engaged on a number of multi-residential and commercial projects across Perth, including Quest Joondalup.
M/Group Managing Director, Mr Lloyd Clark, said M/Group’s recent success and track record in fully subscribing property funds suggests a thirst in the market for secure investments.
“It’s difficult to dispute the investment potential and returns of a project that has a long- term lease agreement with a multi-national operation, as well as an independent valuation uplift created through the development delivery process,” he said.
“Quest Ascot is one of several property funds M/Group has successfully subscribed, largely due to a group of investors that now follow our projects based on our capacity to deliver.”
Quest is Australia’s largest apartment hotel operator by number of properties and is the second largest by the number of rooms. The Ascott Limited (wholly owned by Singapore’s CapitaLand) owns 80% of Quest . It has over 43,000 operating serviced residence units in key cities around the world with a further 31,000 units under development. Ascott is the largest serviced residence provider in Australiasia and is targeting to double its global portfolio to 160,000 units over five years.
The Quest Ascot development project was negotiated by M/Group in an off-market arrangement.
“We are delighted by our growing investment portfolio and the success it has had in recent months. Some of our investment offers have out-performed expectation, which both demonstrates a solid model and market interest for income-generating funds,” Mr Clark continued.
“We are currently working on a number of new opportunities to meet investor demand.”
M/Group is an integrated property organisation that has over $185 million of Investor funds under management with a projected asset value of approximately $1 billion. The company recently expanded its portfolio to the eastern states to add to its string of regional shopping centres with one centre recording an independent valuation uplift of $10.5million in under a year.
For more information or an investment prospectus contact email@example.com or (08) 6380 0400.
In our latest video update for Quest Apartments in Joondalup, M/Construction has completed 5 levels, with a new level being constructed every fortnight. Also shown is balconies being constructed via scaffold towers.
Not noticeable in the video is level 1 and 2 internals being completed with painting, tiling and cabinets being installed.