Perth Living Magazine - Spring 2022

Spring 2022Technology and Green Innovation The Pearl Residences, South Perth - Artist Impression

05 Q & A With Andrew Haning 06 Downsizer Showcase - One Mabel Park, Jolimont 12 Strata Buildings and Energy Efficiency 20 Strata Titles Act 1985, Changes 2 Years On 22 Strata and Community Management 26 Q & A, A Day in the Life of a Strata Manager 28 A Day in Booragoon 32 People and Events, Cygnet West Gala Dinner 34 The Evolution of Technology in Property Management 36 Perth Apartment Market 44 For Sale In This Issue Perth Living Magazine SPRING 202232 CYGNET WEST

• emit less carbon in construction and operations

It is a credit to the design and BUILT construction teams who will deliver a building with a 35% reduction in energy use on mechanical heating and cooling.

Overall this would mean a 14% reduction on average of your annual electricity bill as a result of the solar passive elements incorporated within the building.

What is ‘true cross ventilation’? True cross ventilation is passive and in the case of The Terraces – Claremont, the architects leading the design team incorporated internal and external opportunities for the occupants of the building to be able to make use of local weather conditions to passively (zero energy) maintain the internal environment at a comfortable air temperature.

• be water efficient

The Nationwide House Energy Rating Scheme (NatHERS) measures a home’s energy efficiency to generate a star rating. It was first introduced in 1993. The higher the star rating, the less energy needed to heat and cool the home to keep it NatHERScomfortable.Assessors currently use the house plans and building specifications of a home to input data into a NatHERS accredited software tool. NatHERS tools estimate the amount of heat that needs to be added or removed to keep that home comfortable. The NatHERS tools then generate a NatHERS star rating out of 10 and a Certificate. This star rating measures the home’s thermal performance, based on its structure, design and materials. NatHERS remains the most popular pathway to demonstrate compliance with the National Construction Code (NCC) energy efficiency requirements. Around 90 per cent of building approvals in 2020-2021 were assessed via the Scheme. A star rating of 6 or above is required in most parts of Australia for detached homes. What is Energy Efficiency Star Rating and a ‘best practice’ 35% reduction in energy use. While there are a variety of different ratings, I understand that this question relates to apartments and claims around what an 8.05 Star Average NatHERS rating means.

WhatAndrewWithHaningisaNatHERSrating?

What is 5 Star Green Star rating (and what does that mean?) Green star is a voluntary rating tool for determining the holistic sustainability of a building.

• have improved air, light, acoustics, and product finishes • promote physical activity

The events of the last few years have accelerated the importance of digital connectivity with more people working from home, communicating with family and friends online instead of traveling. In Australia this has put enormous pressure on internet providers using the NBN Co. What you may not know is that there are alternative networks to NBN Co. For new apartment buildings one such provider is Interphone. Interphone is an innovative, Perth based internet provider and fibre infrastructure company. They were the first to deliver affordable 1Gbps services at Botanical Subiaco in 2018. Interphone will be resetting the benchmark in 2022 with Amara City Gardens in Booragoon being the first of several apartment blocks with connections from 60Mbps up to 10Gbps.

All 5 Star Green Star Rated buildings must be Net Zero in operations from 2023. Green Star also utilises NatHERS and National Built Environmental Rating System (NABERS) rating tools along with others to assist in gaining points which are independently assessed and verified. All of these ratings are pieces of the puzzle to help with disclosure and towards your low cost, zero carbon based future. | Chief Technical Officer

A 5 Star Green Star Rated building demonstrates Australian excellence by being a high environmental performer and addresses social issues relevant to the building owner (35 out of 100 points).

•expectations:protectenvironmentally significant areas

All 5 Star Green Star certified buildings must be designed and built to meet these

Andrew Haning Element47

• enable practices that reduce operational waste • be verified to work

HalfInterphonepage

It takes advantage of the building’s orientation and uses local wind conditions (Fremantle doctor) including convection currents which I recently got to experience alongside eagles soaring above my hotel in Phuket, Thailand.

To achieve an 8.05 Star Average NatHERS rating, best practice Environmentally Sustainable Design (ESD) features must be included such as improved wall insulation and cross ventilation to passively keep the home comfortable.

• be built with climate change in mind

With speeds nearly 200 times the average speed in Australia, Interphone is ensuring apartment buildings are future proofed and customers will have a network that will ensure worry free usage any time of day or night.

• manage environmental impacts during construction • embrace the diversity of our population

Future Proof Your Building SPRING 20225CYGNET WESTPerth Living Magazine

Andrew Steedman, CEO of Interphone, feels strongly about providing the best service for customers, “The internet should be treated as a utility providing sufficient capacity to do anything at any time – just like power and water. Interphone ensures excess capacity is always available so peak time congestion is a thing of the past. To further enhance efficiency, our Fibernet™ solution enables all the building services such as TV, CCTV, Intercom, access control and more onto a single ultrahigh speed, reliable network. This reduces the cost of raw materials, reduces the carbon footprint, lowers on-going energy consumption, and needs less space in risers and communications rooms.”

Q & A

Maud was slightly more hesitant at the start because she knew she would miss the spaciousness of their Floreat residence, but commenced an 18-month journey to consider all options, including townhouses and apartments in a mix of large and smaller buildings from Floreat and Claremont to Jolimont and Shenton Park.

Almost the first thing Maud said to me, after walking into their beautiful light filled living area with uninterrupted views of Henderson Park, was “This is one of the best things we have ever Theirdone!”.journey started in their large Floreat family home on a 900 square metre block, not far from One Mabel Park. Ric was the first to come to the realisation they needed to seriously consider downsizing. Whilst they and their children loved their home, the work required to upkeep such a large house and grounds was just not practicable as they entered their 70’s. They considered hiring help, but found it difficult to locate sufficiently experienced tradespeople who were available when required and had the necessary expertise.

| Head of Marketing

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Downsizer ShowcaseOne Mabel Park, Jolimont

“This is one of the best things we have ever done!”

Richard and Maud Berg

RichardPictured:and Maud Berg in their new One Mabel Park apartment

One Mabel Park ticked most of the boxes on their wish list. With 46 apartments over 6 levels it was the perfect size and location and as an added bonus, the building was under construction when they purchased. Whilst the apartment, at 125 square metres was far smaller than their Floreat home, it came with a spacious 125 square metre outdoor terrace with an easterly aspect over parkland and beautiful established Moreton Bay fig trees, in the leafy suburb of Jolimont.

Some considerations, like the location and the size of the building were not negotiable, but along the way they realised to achieve a simpler lifestyle, they would need to compromise.

Ric and Maud settled on their new One Mabel Park apartment in March 2022 and were kind enough to invite me into their new home to chat about their downsizing journey.

Vicki CygnetBillingsWest

The connectivity between their home and the park has been an added bonus. They enjoy sitting on their terrace or in their lounge watching passers by walk their dogs (they now know the names of all the regulars!) and families enjoy the parkland. Whilst their children were sad to see the family home sold, the move to One Mabel Park has been such a success for Ric and Maud, their son has purchased his first home in the same complex.

One of the bonuses with buying at the time they did was the ability to make some changes to the layout of the apartment. They have converted the laundry area off the kitchen to integrated cabinetry with an appliance cupboard on one side and a European style laundry on the other. They removed the wall at the entry to open access into the kitchen and put in sliding pocket doors between the dining area and the third bedroom, which Maud uses for her craft and sewing. These changes have allowed light and parkland views to fill the living/dining/kitchen area.

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InsidePictured:Richard and Maud Berg’s One Mabel Park apartment

843 SALES ENQUIRIES 56 Melville Parade, South Perth 1pm to 2pm Saturday & Sunday or by private appointment DISPLAY CENTRE CRAFTED BY NATURE thepearlsouthperth.com.au

YOUR HOME BY THE RIVER

SUSTAINABLE DEVELOPMENT Comfort and Efficiency

ONLYPURPOSESILLUSTRATIVEFORAREIMAGES CNR

The sheer opulence, exquisite quality and attention to detail at The Pearl takes apartment living to a whole new level. Beautiful designer interiors with premium finishes, five-star kitchens and luxe bathrooms are a key to the finer things in life, along with the generous expansive balconies that draw in the breathtaking views.

YOURSECUREPEARLRESIDENCE FROM

Greg Billings 0434 659 808 Vicki Billings 0434 659 The Pearl is set to be far more than just a place to home, but an enduring landmark nestled between river and city. With its form reflecting the relaxed movement of the Swan River, The Pearl combines soft curves with lustre and elegance. This carefully crafted architectural design also opens up incredible potential for every residence within The Pearl itself. The grand balconies offer sweeping views across the Swan River towards Kings Park and Perth City. By day, the sunlight dances across the water’s edge, while the city lights provide a dazzling view each night. Above all, The Pearl offers living without compromise. Connect with fellow residents, enjoy lush landscaping and outdoor facilities. Take in the views, or head outside to explore the many delights of South Perth on your doorstep. MELVILLE &

One of a Kind The Pearl of South Perth

An Enviable South Perth Lifestyle

Greg Billings, Director – Residential Projects, Sales and Marketing from selling agents Cygnet West says: “Early interest has been strong, particularly for the west facing two bedroom apartments, with spectacular river views. With a choice of one, two and three-bedroom configurations, as well as 4-bedroom sub-penthouses and two double-storey penthouses, there is an apartment at The Pearl for every buyer.” 1-bed $515,000* 2-bed $899,000* 3-bed $1,555,000*. *Prices correct as at 10 August 2022 thepearlsouthperth.com.au $10K

On Level Three, residents and their guests will have exclusive access to a protected landscaped terrace with an infinity edge pool, a massage room, private seating alcoves, gardens, and a barbecue with an enclosed outdoor dining area. Other amenities include a gymnasium, sauna, steam room and yoga deck. Residents can relax in the theatre or games room, or entertain guests in the elegant residents’ lounge and dining room, which has its own fully equipped kitchen and a temperature-controlled wine room.

SOPHISTICATED LUXURY Stunning Designer Interiors

(T&CS APPLY) • AWARD WINNING DESIGN • LARGE APARTMENTS • AMAZING RESIDENT’S AMENITIES • EASY ACCESS TO RIVER AND CITY • LUXURY SPECIFICATION • QUALIFIES FOR THE STATE GOVT. STAMP DUTY REBATE UP TO $50K

The stunning landscaping design of The Pearl provides a visual link to the green open spaces which surround The Pearl, including Richardson Park, the Perth Zoo, and Sir James Mitchell Park.

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The architects behind The Pearl have ensured each apartment optimises natural light and ventilation, with large balconies and high-performance glazing to increase thermal comfort. Energy efficient appliances and plumbing, a communal edible garden, EV-ready parking bays and a striking landscaped vertical facade which will soften and cool the building all contribute to the five-star sustainability rating.

call

At The Pearl you can live the life you deserve, surrounded by the amenities of a five-star resort.

The Swan River is Perth’s greatest natural asset, and The Pearl takes full advantage of its superb location on the South Perth peninsula to offer residents a vibrant and diverse lifestyle. From your front door, you can enjoy endless riverside walking and cycling paths, the expansive green foreshore parklands with unbeatable views of the city skyline, and the nearby Mends Street café, shopping and dining precinct. From here you can catch the ferry across to Elizabeth Quay – Perth’s riverside playground and home to an array of dining and entertainment options.

PARADE

• Solar, Batteries, Microgrids

1. Outright purchase (upfront Reserve Fund) typically raised by a special Levy at say an AGM or EGM, and/or the Strata Company may have sufficient funds in the bank.

From July 2021, Strata Management Companies and Councils of Owners, can begin to reach the new Federal Government renewable energy target of 43% CO2 savings against 2005 levels by 2030. Changes to Legislation mean only 51% of the Strata vote is required to approve sustainable infrastructure upgrades. In addition, new Western Power distribution board requirements and safety standards took effect in December 2021 which will lead to more infrastructure upgrades.

The three most common methodologies to advance these solutions are:

3. Direct Power Purchase Agreement (Third party buy and own the infrastructure for a term of 10 to 30 years, generally 20 years, a $/kWh, in general 10% is a reasonable saving, although it can be up to 30%)

Is a Hybrid System Worth Considering?

For HVAC, moving to a hybrid solar passive/passive house with integrated mechanical services means that year round heating and cooling is possible. Particularly in the SW of WA, we still have extreme heatwaves and cold snaps which generally require mechanical HVAC to keep you comfortable. These systems may be centralised (community scale HVAC) or decentralised (split system AC’s in each apartment/room).

The New Renewable Energy Target

• Domestic hot water (DHW) and;

• The benefits of community internet and renewable electricity Investment may be made by raising a levy, although this can be a lengthy process and not all communities would have access to enough spare capital to meet those requirements.

For heating hot water, many apartments use either gas instantaneous, or electric storage or instantaneous hot water systems. These are simply energy inefficient - heat pump hot water systems are on average four times more energy efficient than the aforementioned traditional heating hot water systems. The choice here is between a low upfront cost and higher ongoing bills or a higher upfront cost with only a quarter of the bills.

What Are Our Options?

HybridCelsius.systems with mechanical heating and cooling will provide guaranteed year-round comfort and save between 30% and 40% off an annual residence’s electricity bill.

Strata Buildings and Energy Efficiency

Solar passive uses no electricity to heat and cool, although it generally requires human interaction to say open windows and doors for the Fremantle doctor. While passive houses require minimal human interaction and use minimal electricity to heat and cool the residence. Both solar passive and passive house focus on energy efficiency in the built form, building orientation, shading, insulation and natural ventilation from windows, doors, exhausts. Passive house addresses air leakage (usually 25 times the volume an hour in Australia) by creating an air tight home and providing 100% fresh air through a filtered heat recovery ventilation system to automatically keep the home at a stable air temperature of between 21 and 23 degrees

Andrew Haning Element47 | Chief Technical Officer

By using smart, embedded networks, connected, private electrical and communications infrastructure which may be owned by a third party (Direct Power Purchase Agreement below), the Strata Owners can now access:

60% of residential energy consumption comes from the combination of 40%, heating, ventilation and air-conditioning (HVAC) and 20% from heating hot water (HHW), according to Australian Institute of Refrigeration, Airconditioning and Heating (AIRAH). Consider reducing your consumption by upgrading to more energy efficient HVAC and domestic hot water.

Perth Living Magazine SPRING 20221312 CYGNET WEST

• Heating, ventilation and air-conditioning (HVAC)

2. Strata Finance Loan (Benefits Finance is unsecured, although at 6% to 9% interest)

Any Strata building with more than 10 lots which have a sum insured over $5 Million, will now require a mandatory 10-Year maintenance plan. Element47 recommend considering energy efficiency and renewable energy when replacing or upgrading your building services infrastructure.

How Can This be Achieved?

Customers who consume 50MWh or more of electricity per year (or approximately 4,166 units per month) at each exit point (the point where your property or business is connected to the electricity network) may choose their own retailer. These customers are referred to as “contestable customers”.

Various regulations and codes provide additional protection to electricity customers who are considered to have little or no market power. These customers are referred to as “small use customers” and are generally comprised of residential and small business customers.

What About Electric Vehicle Charging?

1.apartments:Theaggregation and bulk purchase of power on behalf of the community (it is recommended to engage an energy procurement specialist that does not work on commission or hidden commission).

And that brings us to electric vehicle charging. Globally, the challenge of addressing the scientific evidence that we need to meet our 1.5 degree warming target means there is a rapid transition - including for transport. More than 3 billion people now live in countries that have mandated 100% electric vehicle sales between 2024 and 2060. And all major car companies have committed billions to the effort to transition. Mercedes recently committed $47 billion to provide an equivalent full EV for every model by 2025 and an 100% electric fleet of cars, vans and trucks by 2030.

An embedded network gives two significant benefits to

New technology such as Powerledger’s Peer to Peer trading platform can be used to track the near realtime trading and equitable distribution of solar and grid electricity and their associated carbon emissions for NABERS compliance on a 5-minute interval basis.

Aggregating customers together enables a more cost effective rollout of solar and battery storage to reduce a community’s electricity costs and increase renewable energy up to 100%. Those living in strata arrangements may not have the ability to add solar on the roof and to their own home, now these benefits can be provided at the community level. The simple rule is solar only covers around 30% of your bill, but without an embedded network, most strata buildings are limited to covering only the common area electricity.

Solar electricity can reduce daytime demand in a building.

Savings are typically in the range of 10% to 30% on electricity costs when benchmarked against the WA residential A1 tariff.

What About Solar?

As energy systems transitions to 100% renewable energy between 2030 and 2040, our choice of embedded network metering is critical to the success of a building’s energy management and billing system into the future. We like to use SATEC NMI approved meters as they have embedded data logs and comply with the national electricity market Power of Choice regulations.

Most car bays will require EV charging of some description, likely that is smart and controllable. At the moment, AC chargers are cheap and enable slow charging of between 7kW and 20kW on average and range from $2,000 to $15,000.

An oversized system which exports electricity to the grid often does not generate any income as solar feed in tariffs per kWh of renewable energy range between $0.00 (Synergy) to $0.04 for contestable customers.

2. Additionally, renewable energy can be installed to offset the grid purchased electricity and directly reduce carbon emissions.

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Are Embedded Networks Worth Considering?

5-minute intervals are the game changer; we all know that renewable energy is variable - when the sun doesn’t shine or the wind doesn’t blow - generation reduces or stops - when a cloud comes over - generation reduces instantaneously. Load is also variable - a kettle is only on for 1 minute - a microwave 2 to 5 minutes.

The finance industry is now moving with Bank Australia recently stating that it will no longer offer personal loans for new internal combustion vehicles – including hybrids (HEVs) and plug-in hybrids (PHEVs) – as of 2025, citing its company-wide push to be carbon neutral by 2035.

Secure your preference today, contact one of our exclusive selling agents

Greg 0434CygnetBillingsWest659808

Sven 0419RealmarkRobertson984368

Iris Residential, Managing Director, Simon Trevisan says: “The Terraces has been designed with an emphasis on Australian leadership across all aspects of sustainable design. Iris Residential are proud to offer such a unique building to the Perth market.”

Nearly 40% of global warming gas emissions are generated by buildings. The biggest issue is the energy used in heating or cooling buildings (which accounts for 70% of building related emissions) which also accounts for the majority of household electricity use and electricity bills. In recognising this, Australia adopted the Nationwide House Energy Rating Scheme (NatHERS), which gives each dwelling a rating for energy use based on a potential 10 star scale. The current building codes require a minimum 6 star rating, and this is a high standard that few older homes will meet.

Live Connected. Live Claremont. Iris Residential

Achieving these highest levels of energy efficiency didn’t happen by accident, they result from the design Iris Residential adopted. The benefits go far beyond contributing to a reduction in global warming gas emissions. The design provides quality of life benefits from natural sunlight and fresh air from the north facing orientation and cross ventilation. In addition, the development has powerful 30kW Solar PV cells which are applied to reduce common area energy consumption, double glazing to windows as standard, for acoustic

The Terraces achieves an 8.05 star average NatHERS, across its apartments, ranging from 6.4 to 9.7 NatHERS Stars. The result of this, is that The Terraces achieves a best practice 35% reduction in energy use. The Terraces also has true cross ventilation in over 92% of residences and 40% reduction in internal lighting energy consumption.

Live Connected. Live Claremont. A Premium Selection of 1, 2 & 3 Bedroom Residences terracesclaremont.com.au

The Terraces at Claremont

The development has unprecedented sustainability and connectivity which derive from its location and design innovation. What does this mean? Sustainability is one of the most misused terms around. Nearly all developers make similar claims and in many cases, it is simply greenwashing.

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Robin 0418McGeesSchneiderProperty914281

Introducing The Terraces, Claremont. Located within the Claremont on the Park estate, the premium lifestyle is at your fingertips. Be walking distance to: Claremont Quarter Foodies Market IGA Mary Street Bakery Claremont Train Station

The Terraces at Claremont, Iris Residential’s newest apartment project, showcases Iris Residential’s philosophy in developing apartments that provide beautiful homes through excellent location and design. The Terraces provides sustainable living, design innovation and the best apartment location Claremont has to offer. It is a luxurious, north-facing development which provides panoramic views of Claremont Oval, coupled with a walkable lifestyle to the best lifestyle amenities around.

Scotch College Christ Church Grammar Methodist Ladies College Claremont Lake, Golf Course, Tennis Club, Aquatic Centre Revo Fitness plus superlative in-house amenities including two private landscaped podiums, lounge, dining rooms and a gym. Sustainable living and design innovation. The Terraces proudly achieves: 8.05 Star Average NatHERS rating ranging from 6.4 to 9.7 ‘Best practice’ 35% reduction in energy use True cross ventilation over 92% of residences Powerful 30kW Solar PV cells reducing common area energy 40% reduction in internal lighting energy consumption

Large residences offering a variety of layouts and orientations with 95% of these enjoying a panoramic northerly orientated view to the oval.

It’s all about location, location, location. Another often spoken property cliché. But what does it mean? With land it is the location, relative to other locations that determines value and utility.

The Terraces features in-house amenities including two separate high-quality landscaped podiums, resident’s entertainment areas and dining pavilion overlooking Claremont Oval, a wellness studio and a series of quiet spaces and an alfresco flexible space for resident’ enjoyment.

The Terraces has 137 spacious apartments offering a variety of layouts and orientations with 95% of them enjoying panoramic northerly orientated view to Claremont Oval.

Current pricing: • 1-bedroom from $440,000* • 2-bedroom from $660,000* • 3-bedroom from $1,300,000* Construction is due to commence at the end of 2022 and complete late-2024. To find out more about The Terraces at Claremont or to visit our on-site Display Suite, contact Greg Billings, Cygnet West on 0434 659 808 or Greg.Billings@cygnetwest.com *Price correct as at 10 August 2022 O V E R 2 0 0 0 P R O P E R T I E S U N D E R M A N A G E M E N T Strata and Community Management Ali Qamar Partner and Company Secretary Amy Cooper Senior Strata and Operations Manager Ellen Toczylowski Strata Manager Shannon Hodgkinson Associate Strata Manager Petula McKinley Strata Assistant Philippa Critchley Assistant Strata Manager Ali.Qamar@cygnetwest.com Amy.Cooper@cygnetwest.com Ellen.Toczylowski@cygnetwest.com Shannon.Hodgkinson@cygnetwest.com Philippa.Critchley@cygnetwest.com Petula.McKinley@cygnetwest.com cygnetwest.com All images are artist impression Perth Living Magazine 18

The Terraces’ location brings the best of lifestyle enhancing attributes within walkable distances. The Claremont on the Park precinct is in the heart of Perth’s most desirable western suburbs. It is close to some of Perth’s most famous beaches as well as leading schools and with good train, bus and car access to the city. Immediately adjacent to The Terraces are the Metronet Claremont train station with direct airport connection, Claremont Lakes park and recreation area, Claremont Tennis Club and Claremont Golf Course and Claremont Aquatic Centre and local shopping with the Mary Street Bakery, Foodies Market IGA, Just a short stroll from your apartment are some of the best shopping, lifestyle and leisure options Perth has to offer, including the Bayview Terrace precinct and Claremont Quarter. Public and private transport connections, recreation and park land, shopping and services, beaches, education and health care, all close by. Most walkable. That is what the location offers. In Perth it doesn’t get any better.

and heat insulation, sliding balcony screens and enhanced breezeway. All of these standard features enable residents to be more comfortable year-round and save on strata fees and power bills.

Cygnet West | Senior Strata and Operations Manager At Cygnet West we are consistently reviewing new and existing technology to provide the best and most practical service to our clients. On May 1st 2020 the Strata Titles Act 1985 under went its largest reform in history, bringing both the Strata Titles Act and Regulations into the 21st century and allowing more involvement from Owners then ever before.

StrataVoteStrataVote is designed to align with the Strata Reforms and allows Owners to participate quickly, easily and securely. StrataVote extracts up-to-date scheme and lot-owner information from Property IQ to ensure all Owners’ details are correct and the financial status of the lot is accurately reported for each meeting. StrataVote also acts as an online meeting platform providing owners with multiple options when attending a meeting. Owners may pre-vote, attend in person or attend meetings online.

pre-determined i.e. 9am – 4pm and the results are issued via a broadcast to all owners through the Building web portal or PropertyPropertyStrataVote.IQIQ is the leading, cloud-based strata management platform, built with both functionality and intuitive design. It allows Managers to work remotely and Owners to access their data securely, from any location.

The reform affected all those involved in Strata Schemes across WA from Owners to Strata Managers and we are now 2 years on from the reform changes.

The use of StrataVote has increased our owner satisfaction ratings as well as improved participation for all meetings.

The myBuildings platform is designed to enhance tenant/ owner service by providing a proven Work Request System together with the ability to save and retrieve all relevant building documentation for Owners, the Strata Council and Strata Management through the Document Library.

Section 120 (3)(b) of the Act Reg 89 allows for the Strata Company (the Owners) to garner the opinion and votes of all Owners for simple matters such as general maintenance or works. An email notification to Owners via StrataVote, with a check box to indicate preference, ensures the voting process is simple and secure. The voting period is

• Provides an integrated activity log to track, charge and report your time.

Since 1997 Cygnet West have invested heavily in real estate specific Management Information Systems to assist in the delivery of “best in class” Commercial, Retail and Strata Property Management. All software is now cloud-based and changes to the Act have allowed Cygnet West to implement programs such as: myBuildings

In addition, Property IQ:

Cygnet West Innovation

With the changes and advancements in technology since 1985, the reforms have facilitated: • the use of email correspondence for communication on Strata matters; • online voting and; • video conferencing. The reform proved more timely than could have ever been anticipated. With COVID presenting challenges to in person communication, the ability to continue with business as usual for strata schemes across WA, was greatly assisted by the reform.

• Generates, stores and emails all correspondence, including levy notices and;

Strata Titles Act 1985 Changes 2 Years On

As a result of the reforms in 2020, Cygnet West are now also able to use StrataVote to distribute Circular Resolutions in place of Extraordinary General Meetings.

The reform has allowed Strata Managers and Owners to better manage the needs of modern Strata Schemes.

Bing Technology Bing is a communication solution allowing seamless document preparation and secure sending. It allows tracking on all mail issued using on-demand processing and rapid mail production.

For more information contact Amy Cooper, Senior Strata and Operations Manager Amy.Cooper@cygnetwest.com

It has been 34 years since the original Act was written, and understandably technology and the internet has changed the way the world communicates, adding COVID to the mix has fast tracked the way the strata world in WA operates.

Amy Cooper

• Supports statutory financial reporting and management analysis;

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At Cygnet West, our systems and software have been designed to ensure our Strata Managers are as effective and responsive as possible.

During the meeting owners may follow along with the agenda and supporting documentation on the screen, or on their own personal device and vote in real time.

Our Team specialises in medium to large Residential, Commercial and Community Title complexes within WA and can structure the management to the requirements of each Scheme. Our services include: Residential Strata

Our expert understanding of the various forms of commercial tenancies provide invaluable guidance and support to our clients. Developments

All of our Strata Managers have significant industry experience and understanding of the requirements of community living and the legalities it entails. We are long-standing members of the Strata Community Association and all our Manager’s are qualified with a minimum of certificate IV in Strata & Community Management.

Strata and AliManagementCommunityQamar

M:0411 181 938 E: rose@diversifi.com.au www.diversifi.com.au

Providing support to our developer clients post DA to set budgets, create Management Agreements and ensure a smooth transition post-settlement is our specialty. Please contact Ali Qamar on 0434 659 806 or Ali.Qamar@cygnetwest.com

Cygnet West | Partner | Strata and Community Management Company Secretary Cygnet West Strata and Community Management are locally owned and operated with an expert team of Strata Community Association WA members who specialise in the local market.

Our highly skilled Strata Management team have a proven track record of delivering outstanding service and results to Owners and Developers.

Cygnet West offer management for both large and small residential and mixed-use strata complexes. Commercial Strata

Perth Living Magazine SPRING 2022CYGNET WEST

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Contact the team for an external, objective review of your current insurance Peter Barron Corporate Risks +61

For the past 10 years, Lockton Australia has offered risk management and risk transfer strategies that are designed to reduce this uncertainty, enabling its clients to outperform their competitors and the market.

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National Manager,

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In the real estate, property and development sectors, risk creates uncertainty that can increase costs, erode stakeholder confidence, and hinder the delivery of project goals.

ADELAIDE BRISBANE DARWIN HOBART MELBOURNE SYDNEY global.lockton.com Lockton Companies. All rights reserved. PERTH Level 1, 297 Vincent Street, Leederville, WA, 6007

437 202 Peter.Barron@lockton.com955 Ross Corvaia Manager, Construction +61 401 361 Ross.Corvaia@lockton.com557 Rebecca Triplett Associate, Corporate Risks +61 8 9217 Rebecca.Triplett@lockton.com0822 Our unique and unrivalled service proposition is built on taking great care of our clients. Our clients tell our story best: 98% client retention rate in Australia Be an Outperformer. Experience the Lockton difference Specialist Insurance Brokers COMMERCIAL REAL ESTATE • RESIDENTIAL PROPERTY OWNERS STRATA & COMMERCIAL PROPERTY DEVELOPERS SPRING 202225CYGNET WEST

Lockton advisors only work with organisations in their specialist fields, day in day out, they understand the key industry challenges and drive the best outcomes for clients. With genuine expertise and true specialism, it’s little wonder Lockton has a 98% client retention rate in Australia.

Contact Peter Barron on +61 437 202 955 (or via Peter.Barron@lockton.com) for an objective review of your current insurance program.

As the world’s largest privately-owned insurance broker, Lockton has extensive experience in the design, placement and administration of both Australian and global real estate insurance programs, including; Industrial Special Risk Insurance, Business Pack Insurance, Machinery Breakdown, Property Owners Liability, Commercial & Residential Strata Insurance, Annual or Single Project Contract Works & Liability, Financial Lines (Directors & Officers) and due diligence services for lenders and acquisitions, and transactional insurance. Unfettered by outside influence, Lockton offers an independent perspective and game-changing solutions to meet their client’s unique needs, wherever they are in the property chain. Ali Qamar, Partner, Strata & Community Management and Company Secretary at Cygnet West, says: “It is a pleasure to partner with such a technically capable, reliable and service-oriented team who are also friendly and personable. To put it simply, they not only do what they say, they do it very well.”

There is no typical day – the world of strata is unpredictable but that is something I thrive on. A Strata Manager can look after everything from legal compliance to risk management, plant management and dispute resolution. Some days it’s just getting through emails and other days a basement carpark has flooded due to equipment failure, or the Fire Brigade has attended the building!

Fire doesn’t wait. Neither should you.

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Do you ever take work home with you?

In strata after hours issues always arise, and we offer an emergency facility as a service to our clients. In saying that, value my free time and a good work-life balance.

Wet and Dry services 24/7 emergency call out

During Covid, running Strata business as usual was challenging for many businesses, but because Cygnet West had well developed and implemented systems and software it enabled our Strata team to be as effective and responsive as they always had been. My personal favourite system is StrataVote. I can use a simple email notification via StrataVote to obtain Owner voting on simple works in a fast and timely manner. The system, including the follow up broadcast are all completely

Online access to the Strata Titles Act is my daily go-to reference tool, along with Online Judgements from the State Administrative Tribunal.

What do you feel elevates Cygnet West in the Strata Sphere? We have a strong team that support each other, and we have the best systems in place to deliver outstanding outcomes for our customers.

paperless, which is a real bonus to everyone, including the environment.

Cygnet West | Strata Manager

Q & A, A Day in the Life of a Strata Manager

We are committed to providing fire protection needs for the commercial, industrial and domestic sectors in WA and are available 24/7 for emergency callouts. Whether you’ve got a newly installed fire protection system or are searching for a new provider to manage your requirements, we have dedicated maintenance teams to ensure you receive specialised and effective servicing of your system. Our servicing teams are predominantly in-house. Providing greater control over our quality of delivery and consistency of service to ensure client satisfaction that we’re doing the best job of maintaining your system and its compliance with AS1851 over time. For fire protection you can trust, get in contact today! Ph: (08) 9303 4530

Ellen Toczylowski

As strata management is client facing, a Strata Manager is the first port of call for everything. This can be both positive and negative issues. Often clients are just wanting to communicate so make sure that am available for a chat.

Tell me a little about yourself and your role? worked in the retail industry for 10 years and was introduced to the Real Estate industry by a close friend. Eight years have gone by, and I haven’t looked back! found my retail experience has helped me greatly in my current role – both are very client based and there is a real skill to understanding what a client needs or wants and how to achieve a positive outcome for all parties. What Skills Does a Strata Manager Require to Be Successful? Good financial skills and the ability to understand budgets are crucial to this role. I manage a wide range of buildings, many with annual budgets in the millions of dollars, so careful financial management is required. Excellent customer service skills are also integral to my day to day. Prompt, accurate responses to client enquiries are essential. Often mediation is required but I find being well organised, understanding the Strata Bylaws and the Act, as well as a good sense of humour makes all the difference. How do you stay organised?

What are some of the challenges you face on a regular basis and how do you overcome them?

am a bit of an Outlook nerd and use the flagging system to give myself constant follow ups and reminders. What is your philosophy towards work? am definitely customer-centric and always attentive to customer’s needs. Helping both my colleagues and clients through their challenges is what really motivates me. also believe the harder you work, the more successful you will be. The best part of my job is working with the team at Cygnet West, they work hard and have a real commitment to ensuring the best outcome for their clients. What does a typical day for you look like?

Characterised by its mix of parks, reserves, property and commercial sectors, Booragoon is a suburb with plenty of diversity on offer, situated equidistant between the Perth CBD (10 km to the north) and Fremantle (10km to the west).

The Booragoon Bus Station is just a short walk from Westfield Booragoon, connecting with the Bull Creek Train and Bus Interchange, providing quick and easy access to the CBD and southern suburbs of Perth.

Education and Health

Surrounding amenities also include the Melville Aquatic Fitness Centre, AH Bracks Library and the Booragoon Bus WithStation.easyaccess to private and public schooling, with education from Kindergarten to Tertiary institutions, Booragoon offers amenity to all community demographics.

Vicki Billings

Jen n i fer Tropia no S pec ia C ou n se Prop e r y & L e as ing A lex Mc Glue S pec ia C ou n se Planning & Env ironme n

In addition to the natural environment the suburb is home to Westfield Booragoon, the major shopping establishment in the southern suburbs, with a cinema complex, entertainment and dining options.

The very first stages of planning are underway for a redeveloped Westfield Booragoon with a vision to create a vibrant, contemporary and highly accessible destination for the community that blends and integrates with the existing centre. The proposed redevelopment will transform Westfield Booragoon into Perth’s premier retail and lifestyle destination, introducing a range of new experiences including fresh food, indoor and outdoor dining, fashion, entertainment and more.

Melville Aquatic Centre Leisurefit Booragoon is a world class facility offering the following:

• Gym • Group fitness studio

A Day in Booragoon

• Cycle studio

Westfield Booragoon Booragoon is also known as the location for Westfield, Booragoon – one of Perth’s largest shopping precincts.

• Spa/sauna/steam

• Children’s water sprayground

used by the Noongar Beeliar people as a lookout and a place to send smoke signals. It was once known as “Yagan’s Lookout”.

• Children’s aquatic birthday parties

Wireless Hill Park The jewel in the crown of Booragoon parklands is Wireless Hill Park, a 40-hectare, Bush Forever and Heritage site, allowing Booragoon residents the enjoyment of a bush oasis in an urban Wirelessenvironment.HillParkwas

We st er n Aust ra l ia’s L eaders i n Proper t y, Pla n n i ng a nd Env i ron ment L aw

• Leisure pool (heated at 32 degrees)

• Wellness studio • Group training yard

• 50 metre, 8 lane indoor heated pool

Life in Booragoon

Booragoon is in the catchment of the highly regarded Applecross Senior High and Booragoon Primary Schools. Mel Maria and All Saints College provide private schooling options within a 3km radius.

• Crèche and school holiday care for kids

Cygnet West | Head of Marketing

• Meeting room for hire

The health and education precincts at the Murdoch Activity Centre just 3km to the south, provide access to world class standard offerings at the Murdoch University campus, Fiona Stanley and St John of God Hospital precincts.

Transport Options

Level 20, 1 Wi l am S treet, Per th 08 928 8 6 0 0 0 lavan.com. au Pau l Mc Q ueen G enera l Cou n se & Pa r t ner Planning & Env ironme n A nk a Bu rn s Pa r t ner Prop e r y & L e as ing Ta m a ra Heng Pa r t ner Prop e r t y & L e as ing Ti m Morga n Pa r t ner Prop e t y & L e as ing S ol Ma t ele s Pa r t ner Prop e t y & L e as ing Pet er B eek i n k Pa r t ner Prop e r y & L e as ing Cra ig Wa l lace Pa r ner Planning & Env ironme n Rebek a h O’Br ien S pec ia l C ou n sel Prop e r t y & L e as ing A mber Crost hwa ite Pa r ner Age d C are S e n or s L v ing & D s ab y PF37662 140x215.9mm Ad v3.indd 1 22/7/22 3:23 pm 29 Perth Living Magazine 28

In 1912, the area became home to the Applecross Wireless Station, one of Australia’s first radio links and used for communications during both WWI and WWII. The mast utilised was 112 metres tall, which enabled Morse Code to be received by ships off the Australian coastline. The Station ceased use in 1968 and is now listed on the WA Register of Heritage Places and used as a Museum and recreational area. There are three main walks through the 40 hectares of bushland, requiring varying levels of fitness, from which visitors can enjoy the native birdlife, reptiles, plants and wildflowers.

Robin 0418McGeesSchneiderProperty914281

Live a life of absolute convenience at Amara City Gardens,

Sven 0419RealmarkRobertson984368

Secure your preference today, contact one of our exclusive selling agents

Each home boasts 2.7 metre high ceilings, with 100% wool carpet, reconstituted stone benchtops, gas cooktops and high-quality Smeg appliances. Enjoy panoramic views, select apartments offer CBD and Swan River vistas to enjoy each day. Your apartment will also include a generous amount of storage, making downsizing a breeze.

MoveBooragoon.inbeginning of spring 2022!

Pricing starts from $720,000* for three-bedroom two-bathroom two-car bay apartments and from $645,000* for two-bedroom two-bathroom, two-car bay apartments. To arrange a viewing of one of our on-site Display Apartments and move into your new Amara City Gardens Apartment in Spring 2022 contact: Greg Billings, on 0434 659 808 Greg.Billings@cygnetwest.comor

Amara is ideally located, with the CBD 12km to the north, Fremantle 10km to the west and the health and education precincts at the Murdoch Activity Centre just 3km to the south. It is a short walk from the Booragoon Bus Station which links to the Bull Creek Train and Bus Interchange, providing quick and easy access to the Perth CBD, Murdoch University and the World-Class Fiona Stanley Hospital. Leisure facilities at Wireless Hill parklands and the Melville Aquatic Centre are within walking distance and Amara City Gardens is situated in the catchment area of the highly regard Applecross Senior High and Booragoon Primary Schools. The Epicentre of Lifestyle and Amenity Iris Residential Each Amara City Gardens apartment has 2.7-metre high ceilings, 100% wool carpet, reconstituted stone benchtops, ample cupboard space, gas cooktops and high quality Smeg appliances. In addition, many of the apartments have stunning City skyline and Swan River views. Residents’ amenities include a gymnasium and sauna, residents’ garden, yoga and Tai-Chi deck, sunset terrace with BBQ, wine storage cool room, wine tasting area, residents’ lounge, dining room and caterer’s kitchen.

*Price correct as at 10th August 2022 SPRING 202231CYGNET WEST

Iris Residential, Managing Director, Simon Trevisan says: “The location of Amara City Gardens truly sets it apart. The concept of creating residential hubs around retail precincts ensures built-in amenity and with Westfield Booragoon being refreshed as Perth’s leading retail precinct, Amara is at the epicentre of lifestyle and amenity.”

Greg 0434CygnetBillingsWest659808

It is Amara City Garden’s unique location that truly sets it apart. Not only are you connected to shopping, dining and entertainment at Westfield Booragoon Shopping Centre, but you are also on the doorstep of medical services, major banks, Wireless Hill Park and Melville Aquatic Centre.

You’ll be steps away from Booragoon Bus Station linking to Bull Creek Train and Bus Interchange, providing quick and easy access to Perth CBD, Murdoch University and the worldclass Fiona Stanley Hospital. Amara City Gardens is situated within the catchment area of the highly regarded Applecross Senior High School and Booragoon Primary. You will also enjoy an array of in-house amenities including residents dining area, bbq pavilion, wine cellar, gymnasium, rooftop tai-chi/yoga deck and scenic gardens.

Amara City Gardens

In the heart of everything you need Booragoon Apartments on the doorstep of shopping, dining, entertainment, nature, fitness and medical services. amaracitygardens.com.au

Amara City Gardens is a 124-apartment complex, nearing completion in 2022. Located on the southwestern side of Westfield Booragoon, adjoining a lake and parkland area, Amara’s completion will create a combined retail and residential precinct that places Booragoon at the forefront of a new standard of apartment living and amenity in Perth.

Now is the time to buy a brand new 2 & 3-bedroom 2-bathroom 2-car bay apartment

People and Events Cygnet West Gala Dinner Perth Living Magazine SPRING 20223332 CYGNET WEST

plan

owners

Claire Normanton, Director of Business Management Systems says “At Cygnet West we have a passion that drives us to update and provide first class systems for all our users.”

ClaireManagementNormanton

Cygnet West |

common areas such as resident lounges for those family

Director of Business Management Systems

The power of technology in everyday life was demonstrated more than ever during the Covid pandemic. The inability to interact physically meant not only businesses but also individuals were constantly finding new and innovative ways of connecting digitally. The Cygnet West vision to map and provide digital visibility across all layers of the property management process meant developers, owners, buyers, sellers, strata and property managers had realtime access and could continue on with business as usual during that period.

Having such dynamic information readily accessible, ensures all stakeholders are fully informed about their property and its Themanagement.CygnetWest systems also facilitate the smooth settlement and transition into newly completed off the apartments. By simply logging into the building’s portal can: Book gatherings

• Book a move in date • Receive confirmation from the property manager • View relevant drawings, manuals and warranties • Obtain helpful information about the moving process, emergency contacts, OH&S, rules and procedures • Update personal details •

FINANCIAL ESSENTIALS • Accounting & business advisory • Tax advisory & compliance • Wealth management services • Audit services • Deal advisory • Transaction service • Business recovery & Turnaround INDUSTRY SPECIALISATION • Property • Mining & resources • Family business • Private wealth & superannuation • Cross border transactions • Not-for-profit & public sector • Hospitality & retail partners@pitcher-wa.com.au 08 9322 2022

Managing Director Deal Advisory & Taxation Julie Strack Executive Director Taxation Christian Golding Executive Director Wealth Advisory Paul Mulligan Executive Director Audit & Assurance The Evolution of Technology in Property

To find out more about these services, contact Claire Normanton, Director of Business Management Systems on 0434 659 817 or Claire.Normanton@cygnetwest.com

Over many years Cygnet West have built and refined a bespoke system which allows their residential property and strata managements teams to communicate via individual property portals with owners, property managers, contractors and tenants. The encrypted portals provide varying levels of access for users across the following

•technologies: Maintenance Requests • Asset Management / Inspections • Document Library • Tenders • Invoicing • Preferred Contractor System with builtin star ratings and online check-ins for risk management • Voting Module for Council of Owners • Parcel, Key, Pet and Vehicle Management amaracitygardens.com.auThe epicentre of lifestyle and amenity Apartments connected to Westfield Booragoon Perth Living Magazine SPRING 2022CYGNET WEST

Leon Mok

Perth Established Unit & Apartment Sales

Median Weekly Rents & Vacancy Rate

REIWA Unit Price* #N/A #N/A #N/A $415,000 0.0% 6.4% REIWA Median House Price* #N/A #N/A #N/A $530,000 1.0% 5.0% REIWA Unit Rents* #N/A #N/A #N/A $420 2.4% 7.7%

Median Unit Rent $420 $410 $390 2.4% 7.7% Vacancy Rate (%) 1.1% 0.7% 0.9% 0.4% 0.2% Perth Rental Market

Perth Apartment Market

Market Overview

We expect the March volume will be revised upwards in subsequent months, which means the March quarter 2022 sales will likely end up being higher than the December 2021 result.

According to Cygnet West data, 951 apartments, for projects with 20 or more dwellings, are expected to be completed in 2022: down 6.4% compared to 2021.

The City of Melville is expected to see the highest volume of apartment completions in 2022, with 326 dwelling scheduled to be completed. This will be followed by Subiaco, Fremantle, Mosman Park and AffordabilityCottesloe. issues for first homebuyers and investors, strong downsizer demand and state government infill mandates have underpinned many of the developments in these locations, where the dwelling prices has historically been significantly higher than the Perth median.

Preliminary Real Estate Institute of WA (REIWA) data suggest Perth’s ‘Unit’ market continues to be buoyant with strong sales volumes. However, the median ‘Unit’ price appears to have stabilised after growing 1.2% over the December quarter to $415,000. Notwithstanding a lack of quarterly price growth, the March 2022 preliminary median is 6.4% higher than the previous year’s median. There have been 2,455 settled ‘Unit’ sales so far in the March Quarter. This is 0.3% lower than the revised December 2021 quarter volume of 2,462 dwellings. However, compared to a year earlier, transactions were 6.3% higher.

Median House Rent $480 $450 $430 6.7% 11.6%

June 2022* QuarterlyChange* 12 Change*Month MarchRevised2022 QuarterlyMarchChange MarchChangeAnnual Apartment Sales#* 1,050 -22.5% 10.3% 1,354 21.3% 37.5% Median Apartment Price#* $380,000 0.0% 1.5% $380,000 0.0% 5.6%

Source: Cygnet West REIWA (Latest data is preliminary)Figure 4 higher than December 2021, and 37.5% higher than the March 2021 volume.

Given the current low vacancy rate and volume of dwellings in the underconstruction phase, Perth is expected to see a significant increase in supply in 2023. We currently expect 2,956 dwellings will be completed; however ongoing building constraints could result in this figure declining and an upward revision in the scheduled 2024 supply volume. Past delays and construction cost escalation has resulted in many developers slowing or delaying proposed projects, and this has caused building approval applications to decline, especially

Quyen Quach Cygnet West | Director Valuation, Research and Advisory

Source: *REIWA (Preliminary) Cygnet West (Preliminary) # Cygnet West Sales AnalysisFigure 1 Greater Perth Established Apartment & Unit Market Mar-22 Dec-21 Mar-21 QuarterlyChange Annual Change

Source: *Cygnet West REIWA (Latest figures are preliminary)Figure 2

Perth Living Magazine SPRING 20223736 CYGNET WEST

The March 2022 quarter sees the Perth market record a decade high volume of ‘Apartment’ sales at 1,354, which is 21.3%

Preliminary sales volume for the June quarter 2022 show continued strong buyer demand. There were 1,050 settled sales so far, which is already 10.3% higher than the previous year. This number will likely be revised up in coming months as more settlements flow through to the data.

According to Cygnet West’s analysis, the established ‘Apartment’ market, which is a subset of REIWA’s ‘Unit’ market, had a stable median price of $380,000 at March 2022. Our preliminary analysis suggested this stability persisted during the June 2022 quarter despite banks passing on several RBA increases in interest rates. Although the median selling price hasn’t changed over the June quarter, it was still 1.5% higher than a year earlier in June 2021.

Source: Cygnet West REIWA (Latest data is preliminary)Figure 3

The historically high sales volumes indicate higher density ‘Unit’ dwellings are continuing to grow as a proportion of total Perth dwelling stock. Despite the scramble for social distancing and more space arising from the pandemic, recovering population growth, constrained new supply, land constraints, lifestyle reversion, stronger rental yields and affordability has reignited the higher density living shift. Rental vacancy edged higher over the March quarter, rising to 1.1% in March from a low of 0.7% in December 2021. However, 1.1% is still extremely low, and the continued limited availability has driven a further increase in ‘Unit’ rents. Market rents grew 2.4% over the March quarter. Over the year, they have increased 7.7% to a median of $420 per week, up from $390 per week in March 2021. Supply Apartment supply across the Metropolitan area is expected to fall again in 2022, after a year of relatively low supply in 2021. Material and labour constraints continue to slow construction progress, and sharply rising construction costs has caused more project deferments. We expect a significant volume of supply previously scheduled for 2022 will extended over into 2023 or 2024.

Off-The-Plan Sales Despite stronger buyer confidence emanating from the recent growth in dwelling prices and rents, off-the-plans sales growth is being dampened by the current difficult building conditions, future supply uncertainty, slowing project launches and concern surrounding the uplift in interest rates. Projects that have commenced or have a firm commencement timeframe are seeing strong demand and turnover. However, projects still in the approval or selling phases, such as those with no builder appointed, are experiencing more difficult selling conditions, with buyers reluctant to commit large deposits to these projects.

Source: Cygnet West ABSFigure 6

Review your tax and business planning opportunities. The Findex tax and business advisory team can review your business and investment structure to help ensure you are best placed to tackle FY 23 head on. Contact Chris Paterson and Bryce Scidone for assistance on 08 9481 1448. more affordable. This, together with the higher labour and material costs, will potentially lead to higher pricing levels for off-the-plan projects which will trickle through to established apartment dwellings over the next 12 months.

Perth median dwelling prices have been higher at higher interest rates, and we expect the market can absorb the reversion back to longer term averages. The astonishingly low interest rates were not sustainable long-term and were never meant to persist for longer than it was needed. For further information, please contact Quyen Quach, Director of Valuation, Research and Quyen.Quach@cygnetwest.comAdvisory,

Source: Cygnet WestFigure 5 W.A. Annual Apartment Approvals

in the past six months. In the year ending June 2022, 2,267 apartment dwellings were approved in Western Australia. This is marginally lower than the 2,901 dwellings approved in the year prior.

Outlook The low vacancy rate and pandemic induced supply constraints will likely continue driving further rental growth. As such, demand for apartments is expected to be buoyant over the medium term, especially amongst established products. The Perth vacancy rate may have crept higher recently, however, it remains historically low and well below the 3.0% equilibrium level. Migration is continuing to improve following the reopening of the state’s border; further construction delays will exacerbate the rental crisis in the Furthershort-term.marketrental growth could create stronger demand, particularly among investors. This would typically generate more project launches and revive stalled projects. However, labour and supply constraints and the associated surge in costs could continue to delay mooted projects.Interest rates have increased, and further increases are now pretty much a certainty in 2022, unless inflation drops unexpectedly or dramatically, or the national economy slips into recession. This could have some dampening impact on demand and pricing as mortgage rates move upwards from its previously low settings and borrowing capacity declines.

The significant increase in construction costs over the past two years has created a dilemma for developers, with some abandoning or delaying projects post launch. However, rising established apartment prices has, anecdotally, resulted in some developers returning to buyers seeking a revision of the original contracted price in order to proceed with construction.

The rising fuel and energy costs at the same time as the easing of the COVID health threat, will likely continue supporting a recovery in demand, as occupiers reassess the benefits of higher density living that’s closer to work and amenities. The COVID driven expansion in average apartment sizes and the rethink of common amenities provision are likely to continue to be a factor in future supply, as apartment buyers seek layouts and features that give them flexibility to work from home, especially amongst the white-collar workforce and the growing cohort of downsizers. Despite the increasing interest rate environment, we expect growth in Perth detached house prices will continue for at least the next year, albeit potentially more modestly. Perth median dwelling prices remains significantly lower than most capital Australian cities and notably findex.com.auLevel 5/45 St Georges Terrace Perth Get6000a head start on the new financial year

The state government’s May 12th, 2022, budget announcement increased the maximum stamp duty rebate to 100% for multi-storey off-the-plan apartments with a value under $500,000 from 1 June 2022; with the rebate tapering to the existing maximum of 50% for apartments valued at $600,000 or higher. This initiative to drive increased dwelling supply could spur stronger off-the-plan demand, particularly from first homebuyers and investor.

SPRING 2022CYGNET WESTPerth Living Magazine 38

The recent re-opening of WA borders has led to a recovery in interest from interstate and overseas buyers and suggests they will increasingly compete with locals for the declining stock of off-the-plan opportunities as a result of the decline in project approvals. New project launches continue to predominately occur in locations where the median price of lower density dwellings is well above the Greater Perth median price, and where a stronger downsizer market exists. Investors continue to favour the certainty associated with completed products as opposed to off-the-plan.

MAX for Elevators and Escalators

The better the technology, the more invisible it becomes to the user. Advances in edge computing, mobile connectivity and cloud storage allow the harnessing of big data from connected elevators, resulting in many benefits to Management, Staff, and Tenants. Many don’t realise it, but elevators are the most consistently used means of transport on the planet. Around the world, 12 million elevators ferry approximately one billion passengers from floor to floor every single day.

Improved Reliability. Maintenance quality improves as the technician targets tasks identified by the machine learning algorithms in addition to scheduled safety tests.

THE GreaterBENEFITSTransparency. MAX allows users to see, real time, the status of their elevators, even remotely. This can facilitate a more transparent dialogue with the maintenance provider, management, staff, and tenants. Better Service. MAX allows service technicians to be better prepared prior to arriving for breakdowns. Not only does the technician arrive sooner, but the fault is rectified sooner, minimising disruption.

Reduced Downtime. As the algorithms become more accurate in their diagnoses based on the data collected, the system can inform a technician of a possible issue before it happens.

Improving Transparency and Reliability

Perth Living Magazine 40

INTRODUCING MAX MAX leverages the asset base and domain expertise of TK Elevator, with the computing power, cloud storage and analytics of Microsoft Azure, to deliver a powerful end-to-end IoT MAXsolution.continuously collects data and sends it to the cloud for our intelligent algorithms to analyse.

Delays Appointingfor Your Settlement Agent Can Be Costly

••••••languages:IndonesianMalayCantoneseMandarinKoreanandItalian.

All contracts of sale for property are required to be lodged at the office of state revenue for duty assessment within 2 months of signing, many off the plan buyers assume they have more time and can be hit with penalties if the process is not adhered to. This is just one example as to why you need to appoint your conveyancer at the time of signing the contract.

assist If you are buying an off the plan or established property in Western Australia then West Coast

West Coast Conveyancing can Conveyancing

Along with duty issues as explained, there are generally many conditions on the contract that require a Conveyancer to assist the buyer to work through and ensure that they are fulfilled on time.

Tylah Wright, senior conveyancer at West Coast Conveyancing highlights the importance of not immediately appointing your conveyancer on a contract of sale when purchasing property, whether it be off the plan or established.

The duty of an appointed conveyancer is to transfer the title from seller to buyer in accordance with the contract.

Heavy penalties can apply if buyers delay in appointing their settlement agent.

Too many buyers put off appointing their conveyancer assuming they have plenty of time to appoint.

Time is of the essence with these important transactions and representation at the very start is integral to the success of your purchase. West Coast Conveyancing make it easy to understand the cost of service and the important statutory costs that are involved in purchasing a property in-order for you to budget correctly. Their instant quote page allows you to input all the particulars of your property purchase then submit for calculation and receive by email all the important information you need to be educated of the essentials of a good property transaction.

As a preferred Cygnet West client, by using the QR code as featured or the following link it will provide you with the preferred Cygnet West automatic discount for your settlement services.

West Coast Conveyancing is part of the Capital Legal group of Companies, and has access to provide legal assistance with any of your property purchases. Buy with confidence and appoint your conveyancer as early as possible.

The West Coast Conveyancing website can also provide you with a whole host of information relating to the transaction process including flow charts for buyers and sellers in six different

should be your preferred settlement agent. To understand the steps for purchasing property in Western Australia log on https://westcoastconveyancing.com.au/services/translation-services/ and download the descriptive flow charts for buyers or sellers in 6 languages. 08 9226 3033 08 9426 6089 10th Floor Exchange House, 68 St Georges Terrace, Perth WA 6000 www.westcoastconveyancing.com.aureception@wccwa.com.au Contact Us If you are referred as a buyer client by Cygnet West Property log onto: https://westcoastconveyancing.com.au/instant-quote/ and use the discount code: ZKBW Simplyor scan the QR code and enter your purchase details to receive the maximum discount for settlement fees. Accept the quote and receive up to $300.00 off your fees. CANTONESE MALAY MANDARIN KOREAN INDONESIAN ITALIAN Part of the Capital Legal Group SPRING 202243CYGNET WEST

The Terraces features luxury in-house amenity with two private landscaped podiums overlooking the oval, a residents’ lounge, a private dining facility with wine cellar and a fully equipped gymnasium.

Shenton Park is a well-connected suburb just 400m from the Perth –Fremantle trainline and close to hospitals, schools, universities and the CBD.

Boasting an 8.05 Average Star NatHERS Rating, with double glazing, sliding balcony screens, enhanced breezeways, and a northerly orientation, you can be comfortable all year with warm winters, cool and breezy summers and the bonus of low strata fees. Electric car charging points are standard for 3 bedroom 2 bathroom apartments.

The Terraces provides thoughtful designs exclusively with owneroccupiers in mind. Come home to kitchens and bathrooms packed with storage, family-sized living areas and generous bedrooms with fullheight wardrobes.

Internal Area from: 49sqm - 192sqm Prices from: $440,000 - $2,400,000 Beds from: 1 - 3 Shenton Road, Claremont WA 6010 Greg Billings +61 434 659 Greg.Billings@cygnetwest.com808

Shenton Quarter Under construction move in early 2023.

All

The Terraces Boutique terrace homes between park, city and sea.

Shenton Quarter provides a stunning range of one, two and three bedroom family-sized apartments in one of Perth’s most sought after suburbs – Shenton Park. Featuring life-changing amenity with an integrated Coles Supermarket, eateries, medical services and over 2,400 sqm of resident facilities – you will be minutes to everything you need and seconds from everything you want.

Within a short stroll of your apartment, you will find Bayview Terrace - the boutique fashion and retail centre for Perth, along with the Claremont Quarter, Claremont Tennis Club, Claremont Aquatic Centre and Claremont Train Station.

Internal Area from: 55sqm - 134sqm Prices from: $575,000 - $1,155,000 Beds from: 1 - 3 Seymour Avenue, Shenton Park WA 6008 Greg Billings +61 434 659 Greg.Billings@cygnetwest.com808

All images are artist impression

images are artist impression Perth Living Magazine SPRING 20224544 CYGNET WEST

Claremont’s premium western suburbs lifestyle is available within walking distances of The Terraces – Claremont.

Many of The Pearl apartments offer residents stunning views of Perth City and the Swan River, some with jaw-dropping vistas that will not be built out.

Internal Area from: 56sqm - 364sqm Prices from: $515,000 - POA Beds from: 1 - 5 3 Lyall Street, South Perth WA 6151

At The Pearl you can live the life you deserve, surrounded by the amenities of a five-star resort, including a protected landscaped terrace with an infinity edge pool, a massage room, private seating alcoves, gardens, and a barbecue with an enclosed outdoor dining area.

Amara City Gardens is also situated within the catchment area of the highly regarded Applecross Senior High School and Booragoon Primary.

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Nestled in the heart of South Perth, The Pearl takes apartment living to a whole new level. Beautiful designer interiors with premium finishes, six-star kitchens and luxe bathrooms are a key to the finer things in life.

The Pearl Your home by the river.

Greg Billings +61 434 659 Greg.Billings@cygnetwest.com808

Each stylish Amara City Gardens apartment has been designed with spacious open-plan living and plenty of room for relaxation and entertaining.

The Booragoon Bus Station which links to Bull Creek Train and Bus Interchange, provides quick and easy access to Perth CBD, Murdoch University and the world-class Fiona Stanley Hospital.

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Under construction move in

Amara City Gardens Q3 2022.

Residents will also enjoy: a gymnasium, sauna, steam room and yoga deck. Relax in the theatre or games room, or entertain your guests in the elegant residents’ lounge and dining room, which has its own fully equipped kitchen and a temperature-controlled wine room. Located in the premier riverside of South Perth you can enjoy a world of convenience with recreation, dining, retail and leisure facilities galore.

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Internal Area from: 79sqm - 119sqm Prices from: $645,000 - $1,230,000 Beds from: 2 - 3 179 Davy Street, Booragoon WA 6154 Greg Billings +61 434 659 Greg.Billings@cygnetwest.com808

The decor is a blend of premium materials and designer fixtures to create a sophisticated yet inviting environment. Wide picture windows with double glazing and generous 2.7 metre ceilings give a sense of space and light, while engineered oak floorboards and 100% wool carpets add luxury and warmth.

It is Amara City Garden’s unique location that truly sets it apart. Not only are you connected to fashion, dining and entertainment at Westfield Booragoon, you can walk to medical facilities, Wireless Hill Park and the Melville Aquatic Centre.

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Offering luxury apartments, a bustling commercial precinct and world class views, with amenities to match. South Perth is arguably Perth’s most exclusive location, bounded by the stunning Swan River and boasting picturesque views across the water to the City skyline. There’s no denying its beauty and aura.

Greg.Billings@cygnetwest.com808

Greg Billings +61 434 659

Internal Area from: 54sqm - 331sqm Prices from: $435,000 - $9,500,000 Beds from: 1 - 3 1 Mends St, South Perth WA 6151

Kaylie Morphew +61 434 659

Kaylie.Morphew@cygnetwest.com685

Henley Rise You deserve to take your life to the next level. Henley Rise offers the kind of lifestyle you’ve always promised yourself. Nestled close to the Swan River in the leafy riverside suburb of Como, each residence has been created to optimise this premier location. The feeling is pure luxury. With expansive windows, private balconies, high-quality finishes and truly liveable spaces, each element has been thoughtfully designed for a life well-lived. Henley Rise is perfectly positioned to offer an enviable riverside lifestyle. Close to the CBD and close to all the comforts of Como, Henley Rise offers the lifestyle you’ve always promised yourself.

Internal area from: 56sqm - 201sqm Prices from: $449,000 - $2,499,000 Beds from: 1 - 3 44 Leonora St, Como WA 6152

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A once-in-a-generation, 360-degree architectural landmark in the heart of South Perth, Civic Heart lights up the south-of-the-river skyline.

Civic Heart Civic Heart places you in the centre of it all.

Internal Area from: 51sqm - 83sqm Prices from: $440,000 - $565,000 Beds from: 1 - 2 8 Basinghall Street, East Victoria Park WA 6101 Greg Billings +61 434 659 Greg.Billings@cygnetwest.com808

• Distinct wellness and entertaining areas sprinkled over level 1. These include a Residents’ dining areas, BBQ Area, and Resident’s gym and yoga area.

• Currently under construction with completion estimated for January 2023.

Wright St Residences Ultimate inner-city lifestyle.

• Designed by award winning Scanlan Architects. Each apartment is well thought out with elegance, space, and style at the forefront.

The Brixton Under construction move in early 2023.

The Brixton is the perfect place to relax in contemporary surrounds tucked behind shady trees on a peaceful residential street away from the highway. Located only 5 km from the Perth CBD with a 50 metre walk to booming East Victoria Park café strip.

Set around a lush open-air atrium, The Brixton is a boutique development of only 36 architecturally designed apartments. Set behind a striking white and charcoal façade, complemented by vertical greenery, glass balustrades, perforated screens and red brickwork frontage - this is inner city living at its best.

• 5-Star Green Energy Rating.

70 Wright St, Highgate WA 6003

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Wright St Residences, Highgate offer the ultimate inner-city lifestyle you’ve always wanted. Designed by award-winning Scanlan Architects, these elegant residences have a refined charm that harmoniously integrates with the area’s historic buildings and surrounding parkland. Construction is well underway, with completion estimated for January 2023.

Greg Billings +61 434 659 Greg.Billings@cygnetwest.com808 Internal Area from: 60sqm - 130sqm Prices from: $499,000 - $1,599,000 Beds from: 1 - 2

Wright St Residences are so much more than an apartment building. This boutique collection of private residences offers light-filled open plan living, with high end finishes that create the private sanctuary you deserve. With clever use of glass and well configured layouts bring the outside in these apartments enjoy an abundance of natural light and ventilation throughout.

ONLY REMAIN9

Distinctive and elegant in form, every space is oriented to maximise views and access natural lighting. Luminous in all angles, each interior allows you to lean into the beauty of Perth with generous balconies that feature outlooks that frame incredible city views, erasing boundaries between the indoor and outdoor to magnify the exquisite standard of these exceptional residences. Murray Towers Live well in the epicentre of it all. 482-488 Murray Street, Perth WA 6000 Kaylie Morphew +61 434 659 Kaylie.Morphew@cygnetwest.com685 Contact Agent for Price Only 9 apartments remain in this carefully curated selection of 53 residences, comprising one, two, three and four bedrooms, each architecturally designed to the highest standards of quality and versatility. With sweeping architectural curves, exposed brick, archways, timber and soft landscaping Noma pays tribute to Glyde Street’s traditional streetscape whilst a shaded pocket park, cafés and retail at street level connect to a generous lobby – welcoming residents and visitors with communal seating and meeting spaces suited to everyday life. Noma Residences Luxury apartments in the heart of Mosman Park. 42 Glyde St, Mosman Park WA 6012 Kaylie Morphew +61 434 659 Kaylie.Morphew@cygnetwest.com685 COMINGSOON Internal Area from: 54sqm - 169sqm Prices from: $540,000 - $2,200,000 Beds from: 1 - 4 ONLY REMAIN9 All images are artist impression All images are artist impression Perth Living Magazine SPRING 20225352 CYGNET WEST

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Our vision is to:

• Be an Agency that is innovative, agile, customer focussed and responsive

O V E R $ 1 0 0 M I N S A L E S Residential Projects Sales & Marketing Kaylie Morphew l Manager Kaylie M orphew@cygnetwest com Greg Billings I Director Greg Billings@cygnetwest com Vicki Billings I Executive Vicki Billings@cygnetwest com +61 434 659 808 +61 434 659 685 +61 434 659 843 innovation.intelligence,Independence, We’re WA’s largest independently-owned commercial real estate agency and one of the biggest in WA. We are a wholly WA-owned and operated property agency with over 140 dedicated experts. We build success and prosperity for our clients by understanding their needs, adding value to their assets and working together to achieve their objectives.

• Deliver customer valued processes that are constantly evaluated and improved in light of their efficiency, effectiveness and flexibility

• Increase staff productivity and streamline business operations Our understanding of the local market and local conditions – built on nine decades of experience and success are unmatched and we manage 1.4 million square metres of property. As a collective group of individuals, we are educated, passionate, and approachable. Most importantly, we are a trusted advisor to our clients and colleagues and are authentic at every level. We live here, we work here, we invest here. FInalist Real Estate Agency Team of the Year

Australia

PerthLiving is published by Cygnet West Level 26, 197 St Georges Tce, Perth WA 6000 +61 8 6375 Cygnetcygnetwest.comPerth.Reception@cygnetwest.com6000West is a commercial real estate agency operating across all property sectors including office, industrial, retail, residential project marketing, all strata and communities, hotel, retirement living and land. SPRING 202256CYGNET WEST