October Wrap Up

Greetings from Scoutable and welcome to our October Wrap Up.

Last weekend saw the largest number of Melbourne properties go under the hammer, with 2,108 properties scheduled for auction. Sydney followed with 1,395 properties. Realestate.com.au recorded an auction clearance rate of 72% (of 1,772 reported results) in Melbourne. Sydney saw a clearance rate of 64% (of 1,011 reported results). Whilst the stock levels are high, we are noticing a lack of good quality stock, in key locations.

The latest QBE Australian Housing outlook has been released. The report includes state and territory analysis and forecasts of house and unit prices for the next three years. The report also provides information about Australia’s population growth, migration, first home buyer / investor market and more.

The below table reflects QBE prediction for properties prices across the states, showing the Sydney house market to remain relatively flat over the coming years, with Melbourne's median house price set to close the gap on Sydney's, reaching $940,000 in 2020. It is important to note that there are areas within each city which are likely to outperform these predictions. For example, the inner city suburbs of Melbourne and Sydney.

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The full report can be found via the link below.
http:// https://www.qbe.com.au/campaigns/housing-outlook
 
Lastly, Happy Halloween to all the goblins and ghouls out there!

Till next month,
Kellie Landrey | Principal Buyers Agent

 

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IN THE NEWS

WEST CONNEX AFFECTING PROPERTY PRICES
https://www.domain.com.au/news/house-prices-fall-dramatically-in-sydney-suburbs-affected-by-westconnex-project-20171028-gz8x3m/

AUCTION CLEARANCE RATES FALLING
https://www.businessinsider.com.au/auction-clearance-rates-australia-volumes-rise-2017-10

A BOLD, BEAUTIFUL MOVE TO FRANCE
https://www.realestate.com.au/lifestyle/how-one-aussie-family-is-restoring-a-french-chateau/

WATSONS BAY COTTAGE SELLS FOR 30% OVER RESERVE
https://www.domain.com.au/news/once-in-a-lifetime-watsons-bay-beachfront-cottage-sells-for-14-million-8211-425-million-above-reserve-20171031-gzbh63/


PROPERTY OF THE MONTH

58 DERWENT LANE, GLEBE


What do you do with a c1850 stable house in Glebe? 58 Derwent Lane is a great example of the possibilities. A simple rectangular dwelling on a slightly larger corner block of land, the the basic layout is beautifully complimented by the balance of original detail and modern touch.

It's an eclectic mix of textures featuring exposed beams and brick work, timber paneling and polished concrete floors and we love the original barn doors which open out to the rear lane. The northern aspect ensures it's flooded with natural light and sliding doors emphasis the indoor/outdoor flow. Overall, it's a great example of turning a simple space into a well designed urban retreat through the use of cosmetics.

Conveniently set behind Glebe Point Road, it's within walking distance to the University of Sydney, UTS, RPA Hospital and public transport. Positioned next to Glebe Public School, you only need to roll out of bed to attend the weekly markets, so long as you're willing to tolerate the school bell during the week - It's definitely conducive to a regimented lifestyle.

With a buyers guide of $1,400,000, we think it'll get snapped up at auction, if not before, given the lack of quality stock currently on the market.

September Wrap Up

Greetings from Scoutable and welcome to our September Wrap Up.

I hope you all had a great long weekend, relaxing, catching up with friends / family and enjoying the warmer weather. For those who follow the footy, I hope your team won!

In true spring fashion, we've seen stock levels consistently rise over the course of the month. There's still speculation about what's happening to the market, in Sydney specifically, and while property prices have plateaued somewhat, the market still seems strong.

An interesting statistic is that over 70% of people who invest in property, buy within 5km of their home. It makes sense as the area is familiar. However, when selecting an investment property, the familiar might not be the best investment, research is key. When Scoutable is researching areas to invest in, we focus on properties that are: -

Low maintenance – properties with minimal or no facilities, this helps keep costs down.

Wide appeal – we look for properties that don’t appeal to just one type of tenant. Ideally the property will appeal to two or more of the following groups - singles, couples, young families, professionals and retirees.

Attractive features – we look for features that will attract tenants, for example, good light, internal laundry, proximity to transport and retail facilities.

Gentrifying suburbs –  Areas neighbouring established or establishing suburbs, they have a lower entry purchase price, with high growth expected due to the regeneration of the area.

Strong rental yield – ideally 3%+. The rental yield is the annual rental income divided by the purchase price

Low vacancy rates – We find out about the vacancy rates for the area. A high vacancy rate may indicate an oversupply, which could make it harder to rent the property out.

Planning – We check in with council for any proposed changes in the suburb that may affect future property prices. For example, new multiple storey apartment developments or zoning changes.

If you are considering investing in Australian property, please get in touch to discuss areas Scoutable has marked for investing.

Till next month,

Kellie Landrey | Principal Buyers Agent

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IN THE NEWS

WHY INTEREST RATES ARE RISING

https://www.realestate.com.au/news/rising-interest-rates-a-problem/

FRESHENING UP YOUR INVESTMENT PROPERTY

https://www.realestate.com.au/lifestyle/how-to-freshen-up-an-investment-property/?rsf=edm:nl:invest:a2

BEST ARCHITECTURE PHOTOGRAPHS OF 2017 - SHORTLIST

https://www.dezeen.com/2017/10/02/arcaid-images-architectural-photography-awards-shortlist-2017/?utm_medium=email&utm_campaign=Daily%20Dezeen%20Digest&utm_content=Daily%20Dezeen%20Digest+CID_9711d4cfe47f102e627edc29ff75886f&utm_source=Dezeen%20Mail

PROPERTY OF THE MONTH

905/12 MACLEAY STREET, POTTS POINT

Do you ever go to inspections just to have a dreamy sticky beak? Us too! Like this penthouse apartment in the "Macleay Regis" for instance. It has a company title and a $6million price guide so it's likely to have a limited pool of buyers but an opportunity to see this heritage home shouldn't be missed.

Built in 1938, Macleay Regis was inspired by New York's Rockefeller apartments. It has undergone a meticulous restoration and walking through the entry foyer is like walking into a time warp.

Full of original features, apartment 905 has an internal floor space that is larger than the land size of most inner city terraces (205sqm) and the living space alone is bigger than most one bedroom apartments. The dining area is a work of art consisting of panelled walls, ornate ceiling, herringbone hand laid parquet floors and a stained glass bay window.

Moving on from the interiors, the rooftop garden / terrace, just shy of 100sqm, boasts panoramic north east views from the Harbour Bridge to the heads - check out the video we posted to Instagram last week.

Though it's not uncommon to have separate parking in Potts Point, the only flaw is the off-site parking (across the road). On the other hand, the two secure spaces are on a separate title which is invaluable in these parts.

It's always a treat to see properties like this and we love how Potts Point has conserved so many of it's fine heritage buildings.

August Wrap Up

Greetings from Scoutable and welcome to our August Wrap Up.
 
We are a day away from the first official day of Spring. We are certainly looking forward to longer, warmer days.
 
August is usually a quiet month for real estate in Australia, with most buyers rugged up at home. Scoutable loves to buy property during this time as there is less competition (we just throw on a jacket and scarf). Domain recently asked five economists to provide their forecasts for price growth in Sydney over the next 12 months. Please find article below. The answers were mixed: -
 
House Price Outlook
Two experts predict price growth to be flat
Two forecast prices to increase
One predicts prices to fall
Highest outlook: up “5 per cent to 10 per cent”
Lowest outlook: Falls of 2 per cent
 
Apartment Price Outlook
Three expect prices to fall
Two expect prices to increase
Highest outlook: Growth of 5 per cent
Lowest outlook: Fall of 7 per cent
 
Factors which are influencing the market include further tightening regulations from APRA, foreign investment restrictions / cooling demand from foreign investors, possible interest rate increase for investor loans, and potential over supply of apartments.
 
On the ground, we are noticing properties that would have had five or six buyers on them a few months ago, now just have one or two. That said, properties are still achieving vendor’s price expectations, some are just taking a few extra weeks to sell. We continue to report the patchy market comments from last month, as there are still in-demand properties which are selling above expectations. The market is certainly not crashing, more stabilising after four years of strong growth. We are watching the market with great interest over the coming months.
 
Lastly, for all the dads out there, Happy Father’s Day for Sunday!!

Till next month,
Kellie Landrey | Principal Buyers Agent

 

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IN THE NEWS

SYDNEY PROPERTY PRICE PREDICTIONS
https://www.domain.com.au/news/what-now-for-sydney-property-prices-five-economists-give-their-predictions-20170807-gxqlm9/

SYDNEY'S REZONING PLANS
https://www.realestate.com.au/news/nsw-real-estate-sydney-suburbs-to-become-highrise-minicities-under-rezoning-plans/?rsf=ps%3Afacebook%3Anews%3Answ

LENDER RATE CUTS AHEAD OF SPRING
https://www.therealestateconversation.com.au/2017/08/31/lenders-offering-lower-interest-rates-incentives-lead-spring/1504141228

 

PROPERTY OF THE MONTH

1/119 ALMA ROAD, ST KILDA EAST

We recently purchased this gorgeous art deco apartment for one of our expat investor clients. One of only four in the block, it contains one bedroom, one bathroom and parking for one car.

The charm is in it's period details such as the lead light windows, fireplace and french doors which provide access to a sunny north facing courtyard. Positioned across the road from Alma Park, it's also within walking distance of Windsor Station, trams, Chapel and Carlisle Streets.

Securing it for under $550,000, with an expected rental return of approximately $400 per week, it will provide an attractive gross annual yield of just under 4% making it a great investment.

July Wrap Up

Greetings from Scoutable and welcome to our July Wrap Up.

Scoutable had a mini break and spent some of July on the Amalfi Coast. Unable to completely forget about property, we saw some pretty amazing houses, not to mention some incredible views.

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Meanwhile back in Australia, UBS Economists are reporting a ‘correction’ in residential construction as a result of the slowdown in the apartment market but believe house prices will continue to grow, though at a slower pace. They are predicting an average capital growth down to seven percent by the end of 2017 (10% reported June 17). In 2018, their forecast is between zero and three percent.

Please see article below from the Sydney Morning Herald for more information.

http://www.smh.com.au/business/property/house-price-growth-to-slow-further-but-not-crash-ubs-20170716-gxcb21.html

If you're thinking of buying or investing in Australian property, get in touch to learn about Scoutable services and how we can assist with your property search.

Till next month,
Kellie Landrey | Principal Buyers Agent
 

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June Wrap Up

Greetings from Scoutable and welcome to our June Wrap Up.

We hope you're all keeping warm during these cooler months. Is it really tax time already??

For all our investor friends, find a link below to a great article with some hot tips relating to your investment property at tax time. As a few minor adjustments have been made, it might be worth a read and/or talking to a tax professional.

As mentioned in our recent budget breakdown newsletter, July 1 will bring some changes to the property market.  It will be very interesting to see how the sub $800,000 market is affected with the changes to stamp duty for first home buyers. Will properties just increase in purchase price by the stamp duty concessions? Or will the grant give first home buyers an edge over investors? Time will tell. Further, will the new taxes and changes made to foreign ownership ease the affordability issues in Sydney.

 

If you're thinking of buying or investing in Australian property, get in touch to learn about Scoutable services and how we can assist with your property search.

Till next month,
Kellie Landrey | Principal Buyers Agent

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May Wrap Up

Greetings from chilly Sydney and welcome to Scoutable's May wrap up.
 
There has been a lot of talk lately that the Australian property market is at the top end of the cycle. From the trenches, we are observing a patchy market. Some properties are passing in at auction that were expected to sell well above reserve, while others are selling significantly beyond expectations. The positive is that I’m finding some great deals for my clients.
 
It's important to note that the property market is cyclical, typically over a ten-year period. It is easy to forget about the recent period of minimal / zero growth from 2008-2012 and only focus on the high growth period over the last four years. When looking at the 10 year averages you will see the Australian market as a whole has reported a more stable average of approximately 10% growth per annum.*
 
We are hearing a lot of commentary regarding foreign investment and its effects on affordability. The government has outlined plans to ease this issue in the May Budget, by reducing the percentage of ownership for foreign investors in new developments to 50%. It will be interesting to note over the coming months whether this will impact the market.

The key to investing in property, is to never over extend yourself so as to avoid finding yourself in a position where you are forced to sell.

For our investors, we select properties that are in limited in supply, resulting in a good chance to out-perform the market.  A property is of limited supply if it is situated in an inner-city location which provides limited development potential (i.e. minimal land for development), or is a character property (limited supply due to age).
 
For our owner-occupiers, we are searching for your home, so there are many more elements to consider beyond location and supply. It does, of course, make sense to bear these in mind if growth is an important secondary aim.

If you'd like to chat about the market or your upcoming property search, please get in touch.
 
Until next month,
Kellie Landrey | Principal Buyers Agent

*Source: Core Logic (January 2007 - January 2017)

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CORE LOGIC QUARTERLY HOUSING REVIEW
https://www.corelogic.com.au/news/quarterly-housing-economic-review-april-2017-release

SYDNEY AUCTION MARKET HAS SLOWEST MONTH SINCE JANUARY
https://www.domain.com.au/news/sydney-auction-market-has-slowest-month-since-january-with-may-clearance-rates-consistently-below-80pc-20170528-gwevxp/

ROBOTS TO REPLACE AGENTS?
http://www.realestate.com.au/news/robots-could-replace-average-agent-by-2020-according-to-one-of-australias-most-respected-futurists/

 

PROPERTY OF THE MONTH

47 MYRTLE STREET, CHIPENDALE

Every now and then a property comes on the market that we here at Scoutable get super dreamy about. Sometimes it screams luxury living, other times it's the perfect investment or the ideal flip job. This time round, it could be any and/or all of the above and that's why we love it .....or should we say, "them". Two properties, side by side, on a single title with a four car garage out the back. As individuals, they're nothing to write home about BUT.......as pair, the options are endless.

Currently, they're just your typical inner city Victorian terraces. Each consisting of three bedrooms upstairs, living/dining downstairs, dark and pokey kitchen and bathroom at the back and a small concrete courtyard that's probably freezing in the winter and a mozzie haven in summer. Yes, we've seen it all before.

What sets it apart is the single title, its north facing corner block position, the huge garage with Sheppard Street access and above all, the possibilities. We can't wait to see what someone does with it.

April Wrap Up

Good afternoon and welcome to Scoutable’s April Wrap Up.

We hope you all managed to take some time off over the holiday period.

As per usual, Easter brought the property market to a near halt as you'll see in the Auction table below. Anzac Day also kept things relatively quiet but we're starting to see it pick up again.

Scoutable is now preparing for its second trip to Asia. We'll be in Hong Kong and Singapore for a week mid May so if you or someone you know is looking to invest in Australian property, get in touch. We're available to discuss the Australian property market, Scoutable services and how we can assist with your property search.
 
Till next month,
Kellie Landrey | Principal Buyers Agent

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SYDNEY MARKET BACK IN FULL SWING AFTER HOLIDAY BREAK
https://www.domain.com.au/news/sydney-auctions-rise-after-holiday-pause-as-rents-surge/

ASX HEADQUARTERS SOLD FOR RECORD YIELD
https://www.corelogic.com.au/news/home-of-the-australian-stock-exchange-sells

COMPUTER ALGORITHMS TO DESIGN PREFABRICATED DWELLINGS
https://www.dezeen.com/2017/04/24/cover-uses-computer-algorithms-design-prefabricated-dwellings-generative-architecture/?utm_medium=email&utm_campaign=Daily%20Dezeen%20Digest&utm_content=Daily%20Dezeen%20Digest+CID_d258c241f3c7bb0509ccc60b4b1b5ed2&utm_source=Dezeen%20Mail&utm_term=More
 


PROPERTY OF THE MONTH

111 MILSON ROAD, CREMORNE POINT

Sitting on 655sqm of land is this four bedroom, four bathroom home complete with parking for three cars, under-house cellar, swimming pool and fully self contained one-bedroom apartment. One of the Scoutable perks is exploring beautiful residences like this.
The master craftsmanship throughout is second to none and it's the details that really set it apart. We love the chevron flooring, elevated garden and walk in pantry. We also love the full length verandah overlooking the pool and garden and the panoramic Harbour Bridge and city views offered by the rooftop terrace.

March Wrap Up

Good afternoon and welcome to Scoutable’s March Wrap Up.

It's been another busy month for Scoutable as we've packed up and moved office. We're loving our new space and are looking forward to having clients come visit.
 
The Reserve Bank of Australia decided to keep the official cash rate on hold at 1.5% at its April meeting today. That is a record low for 12 consecutive months now. Even though the cash rate hasn't changed, banks are continuing to adjust interest rates outside of RBA movements. Having said that, despite some upward movement in recent weeks, interest rates still remain relatively low. If you're looking for a loan that suits you, we can recommend some great brokers.

As usual for this time of year, stock levels are dropping with the lead up to Easter and schools holidays.

Are you looking to buy or invest? Let us help. We love property and would love to find the perfect one for you.

 
Till next month,
Kellie Landrey | Principal Buyers Agent

P.s Did you catch Scoutable on The Real Housewives Of Sydney? SO MUCH FUN!!!!

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IN THE NEWS

THE BANKS HAVE BEEN WARNED
https://au.news.yahoo.com/a/34898293/subdued-consumer-to-weigh-on-rba-thinking/#page1

RENTAL AUCTIONS?
https://www.domain.com.au/news/controversial-us-rentbidding-startup-rentberry-to-launch-in-australia-tenant-unions-slam-the-idea-20170401-gvbmmy/

ONCE A TANK STATION, NOW A HOME
https://www.dezeen.com/2017/03/29/smartvoll-sculptural-concrete-staircase-loft-salzburgs-panzerhalle-interior-renovation-residential-salzburg-austria/

 

PROPERTY OF THE MONTH

9/9A BENNETT STREET, BONDI

This two-bedroom, one-bathroom, one-car space, 61sqm apartment presents a great opportunity to get into the sub-million dollar market and it ticks a lot of boxes.
It's top floor position within a block of only nine, and three walls of windows ensures excess amounts of light and air. It also indicates that a few structural changes might be possible. There's so much room to add value here but it's also completely livable as is. It's in a great location near shops and transport and is roughly an equal distance between the beach and the junction.
This property will provide above average potential for capital growth whilst providing solid rental returns.
With a price guide of $900,000, it goes to auction this weekend and we're keen to see what it sells for.

February Wrap Up

Good afternoon and welcome to Scoutable’s February wrap up. We hope you have settled well into 2017.

Scoutable held its first ever roadshow to Hong Kong & Singapore in February, where we presented on the Australian property market and met potential buyers including expats and foreign investors. We learnt that the appetite for foreign investment is strong. In fact, 70% of loans drawn overseas for Australian property are for foreign investors, whilst the remaining 30% are expats from not only Australia, but also England, America and Europe.
There are many great reasons for expats and foreigners to invest in the Australian property market:
A safe investment
More affordable options compared to local prices
Good yield and return on investment
The opportunity to build tax credits and wealth*
A home to settle in upon return to Australia
Our trip was a great success, and we're already planning our next visit in May. Please get in touch if you, or someone you know would like more information regarding investing in the Australian property market as a foreigner or expat.

The official cash rate was kept on hold at 1.5%, following the Reserve Bank of Australia's first rate meeting of 2017 on the 7th February. Interestingly, some lenders are adjusting interest rates outside of the RBA movement (or lack thereof) and there are still some attractive deals out there. To ensure you get the best match for your needs and situation, we can recommend some great brokers to help you find a loan that suits you best.

Are you looking to buy or invest? Call us for a chat. We love property and would love to find the perfect one for you.
 
Till next month,
Kellie Landrey | Principal Buyers Agent

*Scoutable is unable to provide tax advice. For independent tax advice, please seek guidance from a tax professional.
 

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IN THE NEWS

SCOUTABLE PRIDES ITSELF ON BEING INDEPENDENT, SO FEAR NOT!
http://www.yourinvestmentpropertymag.com.au/news/beware-of-possible-collusion-between-buyers-agents-and-real-estate-agents-231766.aspx

WHAT YOU NEED TO KNOW AS AN EXPAT
https://www.finder.com.au/australian-expat-home-loans

SIRIUSLY BRUTAL
https://www.dezeen.com/2017/02/24/safdie-esque-stacked-box-extension-proposed-for-sydneys-brutalist-sirius-building/

 

PROPERTY OF THE MONTH

852A ELIZABETH STREET, WATERLOO


Down an unassuming driveway in Waterloo sits this unique warehouse inspired dwelling. The property sits on 181sqm of land accommodating up to three bedrooms over two levels.

The entry floor provides master bedroom and open plan kitchen, living, dining which opens onto a small courtyard with plunge pool. Upstairs consists of two more bedroom and optional fourth bedroom or study. The property also provides parking for two cars. The price guide is $2.4M - $2.6M with a rental guide of $1,600 per week.

We love the variety of textures and features this house encompasses. From the custom copper kitchen to the freestanding solid marble bath. The exposed timber beams, concrete floors and dual sided gas fireplace.

Located 4km south of the Sydney CBD, Waterloo was originally an industrial area and is historically a working class region however since the early 2000s, the area has undergone a considerable degree of gentrification. In 2006 the median individual income in Waterloo was slightly higher than the Australian average. The suburb maintains numerous public housing apartments which has been a topic of controversy with regard to their demolition and the construction of luxury apartments.

January Wrap Up

Happy New Year and welcome to Scoutable’s January wrap up. We trust you all had a nice festive break and hope you're enjoying this hot Australian summer.

The unofficial start to the property market is Australia Day. Having said that, we have seen strong activity in January and we are expecting this trend to continue into the first quarter of 2017.

The reserve bank doesn't meet till Tuesday 7th February for its initial rate meeting for 2017 so the cash rate remains at 1.5%. In turn, interest rates are still relatively low and lenders are offering some great deals. We're seeing a lot of stock trading off market.  If you, or someone you know, are in the market for a new home or investment property, engage Scoutable. We know property and we'd love to find the perfect one for you.

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IN THE NEWS

IT'S TIME TO REVIEW STAMP DUTY
http://www.reinsw.com.au/Web/Posts/Latest_News/201701/New_premier_needs_to_review_stamp_duty.aspx

THE AGENCY COMES TO SYDNEY
https://www.domain.com.au/news/the-agency-arrives-in-sydney-with-the-aim-of-disrupting-real-estate-giants-20170130-gu1o6w/

PAY OFF YOUR INVESTMENT PROPERTY QUICKER WITH AIRBNB
http://www.news.com.au/finance/real-estate/buying/pay-off-your-investment-property-quicker-with-airbnb-says-global-index/news-story/4ffa6cc63f30e23a9b64cbfb46d50d10

 

PROPERTY OF THE MONTH

42 LITTLE RILEY STREET, SURRY HILLS

Sitting on approximately 170sqm of land, this Surry Hills corner block property is an inner city delight. Spanning over 3 levels, the architecturally designed home boasts three bedrooms, two bathrooms and one lockup garage which is an incredible value add in this part of the city.

Without compromising on privacy, louvered windows and skylights are featured throughout the house and an internal atrium running from the ground floor to the top, ensures an abundance of natural light and airflow. Contemporary finishes including bespoke timber cabinetry, slate floors, underfloor heating and a gas fire place make this space not just a beautiful build, but a beautiful home.

The ground floor consists of the lock up garage with internal access, main bathroom, laundry and an oversize bedroom offering versatility as this could easily become an office without intruding on you home.
The middle level is the heart of the home with seamless flow between living, kitchen, dining and fold-able glass doors leading to a private entertaining terrace.
The top floor houses two large bedrooms and a sky lit, resort style bathroom, all with cathedral style ceilings.
Surry Hills is a well established buzzing inner-city neighborhood with endless amounts of cafes, bars, restaurants and retail outlets. Moment to central station and an easy walk to the CBD.