COVER STORY
Buying Property Off The Plan
Would you spend hundreds of thousands of dollars to purchase a property that hasn't been built yet? Many people do - and in some cases, buying off the plan can afford substantial savings on the purchase price. However, there are risks involved as well. Nick Humphrey covers the ten critical steps in buying property off the plan... safely!

PROFILE
Ian Grainger's road to financial independence
Ian bought his first property for $1,700 almost thirty years ago... now his property portfolio is worth more than $2 million with a rental income of over $80,000 per year. In this remarkable interview he shares the tips and strategies that have brought him such success.

SPECIAL FEATURES
Architect's Casebook: Renovating the Beachhouse
Carolyn and Rod Lamb purchased a modest fisherman's cottage in a prime oceanside location for $175,000. In consultation with architect Graham Courtenay, they planned and executed a renovation which unlocked the full value of the block... the resulting property (a stunning modern beachhouse) is valued at approximately $400,000.

The GST for Property Investors
Australia's new GST was intended to be a simple broad-based tax following the New Zealand model. But with a broad array of special exemptions and exceptions it's now anything but simple. Renowned property expert Alan Midwood explains in plain English just what the GST will mean for property buyers.

The Generation Matrix
A property research consultancy, an ad agency and a firm of architects have combined their resources to introduce the concept of The Generation Matrix - a unique model that explores the widely differing housing requirements of four major demographic categories: Generation X, Baby Boomers, Matures and the First Generation. Developers, property investors and others players in the property game will do well to understand the model and its implications for Australia's future housing markets.

Property in the Air
Tim Graham explores the way multiple-unit development projects (MUDs) are changing the face of Australia's property investment landscape. As cities spread upwards rather outwards, the traditional idea of ownership of a 'clod of dirt' is giving way to strata-based concepts of owning a 3-dimensional space within a building.

Many Hundreds of Millions Lost...
Hundreds of millions of dollars worth of depreciation entitlements go unclaimed every year on investment properties. In some cases property investors simply aren't aware of their entitlements, or they've received incorrect or misleading information. James Hannah of Herron Todd White explains the entitlements currently available to property investors.

Analysing Urban Development as an Investment Tool
How many times have we looked at a property only to say, I'd wish I'd bought there 20 years ago! Paul Lucas explains how urban development trends from overseas can provide insights into the likely development patterns of Australia's major cities... patterns which will ultimately determine which areas show the strongest capital growth.

REGULAR FEATURES
Smart Finance with Tricia Green Tricia Green, Senior Loans Manager for mortgage broker Home Loans Now, looks at the various fees and charges which can borrowers may incur in taking out a home loan. While some of the fees are fairly predictable, others can take borrowers by surprise... for example, an unexpectedly low bank valuation can result in the borrowers having to take out mortgage insurance at significant cost.

Accountant's Comment
In this issue Peter Dawkins examines the margin scheme, which is an alternative method of calculating GST in relation to property transactions. Under this method the amount of GST applying to some property transactions may be reduced... investors take heed!

Solicitor's Comment
When a tenant vacates a premises, the issue of whether a particular item is a chattel or fixture takes on real significance. It may determine whether the item walks out the door with the departing tenant or remains on the premises as the landlord's property.

Building Wealth with Jan Somers
From early childhood we're lead to believe that wealthy people must 'look rich' and live an ostentatious lifestyle. Nothing could be further from the truth. In this issue Jan shares some interesting stories that highlight how many people quietly go about their business buying property and becoming millionaires, yet keep the same lifestyles and values they started with.

WHAT'S HAPPENING

New South Wales / ACT
* Residex: Predicting Sydney house prices over the next 3 years
* The NSW Central Coast
* Canberra prices show strong growth
* Sydney: Median house/unit prices
* Sydney: Median rental trends

Victoria
* Melbourne's property market mirrors an urban landscape
* Looking at the realities of a sea change
* Melbourne: Median prices

Queensland
* Northern precinct dominates riverfront sales
* East Manly: The bay is booming!
* SEQ: Average house prices

Western Australia
* Differing price growth across Perth's metro area
* WA: Median rents (table)

South Australia
* Adelaide's inner and middle zones show strong growth
* SA: Median rents (table)

Tasmania
* Hobart house prices increase slightly
* Tasmania: Median rents (table)

Northern Territory
* NT property markets characterised by volatility
* NT: Median rents (table)