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A Hong Kong resort developer has bought Noosa Springs Golf Resort, an 18-hole golf course and prestige residential development in Queensland, for $15 million.
Golden Horse ????(??)???? has acquired the golf course, club-house, associated businesses and 23 vacant residential lots in the 103 hectare community developed by the Starkey family since 1997.
They entered into contract to buy it from Noosa father and son Alan and Phil Starkey in mid-July.
At the time Phil Starkey said the buyers were seeking to expand its resort development internationally having already made investments in Singapore, Japan and Thailand.
Golden Horse also owns a 14 square kilometres resort development in Guangzhou which includes two 27-hole championship golf courses.
Starkey's StarCo Group first developed the community in 1997 and. He took it to market in October 2011.
Golf course architect Graham Papworth designed the 72-par golf course.
<a target="_blank" href="https://www.noosasprings.com.au/">Noosa Springs</a> also includes a day spa, a restaurant, a conferencing and function venue, a boutique fitness centre and resort accommodation.
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Hong Kong resort developer ????(??)???? pays $15 million for Noosa golf course

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Gold Coast apartment supply has reached its lowest level in a decade with no new stock added to the market in the June quarter while sales were steady, according to Colliers International.
It found sales volumes have continued to be strong and the supply of new apartments has dropped to around 930 apartments.
The best performing region in the area was the North Shore Precinct, with a total of 58 sales across eight projects, including 32 sales in Etesian at Harbour Quays.
The sales rate in the Southport/Labrador precinct lifted 44% to an 18 month high, with 23 unconditional sales across six projects.
In Surfers Paradise, the sales rate lifted for the third consecutive quarter to record 46 sales across four projects with 22 sales in Soul, 13 in the Hilton Orchid Tower and 10 sales in the Hilton Boulevard Tower.
New apartment sales on the Gold and Tweed Coasts fell slightly over the June quarter after rising for the previous five consecutive quarters. But overall volumes were significantly stronger over the first half of the year compared to the same period last year.
There were 166 sales during the June quarter, putting it ahead of the same period last year by 120 sales or 49%. Colliers says the market is on track to have a significantly stronger year than 2012.
The residential market on the Gold Coast has now turned around and is on the way back up, according to Tony Holland, Colliers International Residential Director.
“The first signal that the market was improving was a rise in volumes, which was first evident in the March quarter of last year,” he said.
“Sales volumes have continued to increase over the course of 2012 and over the first quarter of this year, and while this quarter has seen a slight fall, this is due to the lack of availability of stock rather than a lack of interest from buyers.”
There were are two or three new apartment projects that likely to be launched off the plan in the next six months with more due to follow after mid-2014.
But he says based on the current sales rate, the remaining new apartment stock could be absorbed within 17 months leading to a serious undersupply, particularly in the low rise sector, until the new projects are launched.
“Buyers are identifying that the fundamentals of the Gold Coast market are strong, and this increasing buyer demand, coupled with an undersupply, will lead to growth in prices over time,” Holland says.
“Over the past year projects that had a significant overhang of stock, such as Oracle, Hilton and Soul have sold a significant number of apartments and people are buying into those buildings with confidence.
“They know the future looks good for the Gold Coast, with around 10,000 people moving to the region every year and significant projects such as the 2018 Commonwealth Games set to give the area a huge boost.”
It found seven apartment projects across the Gold and Tweed Coasts sold out during the June quarter.
There are now just 28 projects remaining in Colliers’ survey going into the second half of 2013, the lowest number of projects recorded by the group since 2001.
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Gold Coast apartment supply reaches 10 year low: Colliers

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East Perth had the greatest increase in notional income per person per household between 2006 and 2011, according to demographer and News Limited columnist Bernard Salt.
It's thereby been identified as one of Australia's top suburbs generating interest among key demographic drivers, including empty nesters, young professionals and DINKs (double income, no kids).
Salt says its a pointer to an increased ability among its residents to take out a mortgage – and an indication that a suburb is about to take off.
In fact Perth was home to the top three suburbs with increasing income, according to his piece published in The Australian.
“Western Australia's mining boom created an income-earning capacity and attracted an incoming or an evolving demographic that wanted an inner-city lifestyle on the edges of the CBD in places such as East Perth, Rivervale and Kings Park,” Salt writes.
Sydney’s Waterloo and Brisbane’s Murarrie had the next highest changes in earning power.
The top five suburbs are all located within 5 kilometres of the CBD and have a number of new apartments or inner-city townhouse redevelopments which are attracting a new demographic.
Salt found the average household size in the top four postcodes is between 1.7 and 2.2 people - below the Australian average of 2.6 people. In Murarrie it’s 2.7 people, which indicates there will be a further transition towards smaller households and apartments, according to Salt.
“Those postcodes that are taking off are located in the capital city of a state that has prospered (Perth) and where the property offering genuinely meets the aspirations of a rising demographic force,” Salt writes.
“In places such as Kings Park, for example, this probably includes fly-in, fly-out miners as well as the full range of advisers and technicians and financiers and incoming expats associated with mining.
“Then there is what I call the spillover effect: the gentrification of Brisbane's Cannon Hill spills into neighbouring Murarrie. Inner-city transformation without large-scale redevelopment projects (as in Waterloo for example) applies best to places where the housing stock is mixed and where there is an increasingly vibrant local urban environment.
“This includes places such as North and South Melbourne, Sydney's St Peters and Dulwich Hill and Brisbane's Albion.”
In Melbourne, the income per person increased most significantly in the central postcodes.
At the national level the average growth in income was 20%.
<a href="/news">East Perth</a> – 65%
<a href="/news">Rivervale</a> – 58%
<a href="/news">Kings Park</a> – 55%
<a href="/news">Waterloo</a> – 53%
<a href="/news">Murarrie</a> – 49%
<a href="/news">Officer</a> – 48%
<a href="/news">Athol Park</a> – 48%
<a href="/news">Cannon Hill</a> – 44%
<a href="/news">Collingwood</a> – 44%
<a href="/news">Dawes Point</a> – 44%%
<a href="/news">St Peters</a> – 41%
<a href="/news">North Melbourne</a> – 40%
<a href="/news">South Melbourne</a> – 40%
 
Do your own research
Don't wait for Bernard Salt to do the research, start looking at ABS Census date yourself using our <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/the-property-observer-guide-to-abs-census-data-research-for-smart-property-investors/2013081664267?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">guide to Census data for property investors</a>.
 
Image courtesy of  <a target="_blank" href="https://www.flickr.com/photos/aang14/">Andru1308/flickr</a>.
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Rising incomes pointing to 13 emerging suburbs for investment potential: Bernard Salt

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Investment bank UBS says the Australian housing market is not at risk of becoming a bubble and is instead warming up.
“The bottom line is that Australian housing is clearly warming up, led by Sydney, but nationally remains a fair distance from anything resembling a bubble,” economist Scott Haslem told his clients this week which were reported by The Australian.
“If the Reserve Bank deemed it appropriate to reduce the cash rate further, it is almost certain this would be a response to weaker labour market and an unemployment rate rising through 6%. This is unlikely to be an environment we would need to be concerned about rapidly rising house prices, or a property bubble, in Australia.”
The comments came as there has been a surge in auction clearance rates, particularly in Sydney, and house price rises following record low rate cuts by the Reserve Bank of Australia.
Haslem says Sydney’s auction clearance rate being at a three year high put it at the most risk of over-heating.
UBS says home prices are rising at rate of 8% per annum this year while auction clearance rates in Sydney and Melbourne are at more than 70%, up from a 54% average last year.
On Tuesday UBS increased its residential house price forecasts to 10% for this year and 5% for next year, up from 7% and 3%, but said an increased unemployment rate would cool the market.
Most capital city house prices have not yet reached their 2010 peaks with Haslem noting Sydney was the only capital city noticeably above its peak.
 
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Australian property warming up but no bubble: UBS Scott Haslem

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Potential first home buyers are eyeing off the market as rents approach the cost of repaying a mortgage, according to Stockland boss Mark Steinert.
He says interest is strongest in metropolitan Sydney and in Perth.
"The main thing we're seeing now is at the affordable end, a first-home buyer, particularly with the state grants that are focused on new construction both on the eastern seaboard and now Western Australia, that their repayments on the mortgage aren't that different to rent," Steinert told Business Spectator.
Stockland’s Willowdale development in East Leppington in Sydney had more than 1000 pre-registrations. First home buyers form a strong base for Stockland.
“There’s a very significant employment base over in Parramatta, Liverpool and Campbelltown. That is actually a big part of the economic engine of Sydney,” he says.
But he says while they are coming back to the market the looming election is keeping them cautious.
“There has been a lag response to first home buyer stimulus,” Steinert told The Australian Financial Review last week.
“Sentiment remains an issue and buyers are still a bit more cautious about taking on leverage.”
He says low interest rates now mean home loan repayments are lower than rent payment which makes buying more attractive for first-home buyers and those seeking to upgrade.
“We are starting to see constructive signs of that,” he said.
First-home buyer sentiment is strongest in the Sydney metro region and in Western Australia, driven by population growth from migrants who may already own homes overseas but are still recognised as first-home buyers.
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Sydney strongest for FHB followed by Perth: Stockland

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Darren Moffatt, founder and chief executive of Housenet.com.au, is a property and social media enthusiast. He has prepared six steps to successfully invest in property.
So you want to build a real estate empire. Nice, ambition is good. But how to property invest and where to start?
There’s a mountain of information out there on the web about buying investment property. It’s one area where too much information can actually hinder rather than help. For first time investors in particular, it can be bewildering.  So we set ourselves a challenge: what are the bare minimum steps anyone needs for successful property investing?
This post is designed to both help first time investors and spark a discussion among seasoned pros: what are the absolute, essential property investing steps required for success?
I got it down to six, but maybe you can do better and distill it even further. Is this the definitive list? Leave a comment and have your say. OK here goes …
1. Assess your readiness.
Are you ready to invest in property? Are you earning enough income, and do you have enough cash or equity in your existing home to fund the purchase of property? <a target="_blank" href="https://www.housenet.com.au/mortgage/calculator/" title="Mortgage Calculator ">Establishing your borrowing capacity is a good first step</a>. Even if the answer is yes, you may still not be ready to invest. You should also consider other lifestyle questions such as your job security, family circumstances, and current debt load. Just because someone says you CAN do it, doesn’t mean you should.
2. Decide your objective.
Why do you want to buy an investment property anyway? Lots of people don’t actually know, they’ve just heard it’s an easy way to build wealth. Well guess what? It’s not as easy as it used to be. You need to be clear about what you’re trying to achieve. Here’s a list of common objectives investors have when buying a property:
<ul>
<li>Capital growth (potential increases in the capital value of the property over time)</li>
<li>Rental yield (the rental return expressed as a percentage of the property value)</li>
<li>Tax minimisation (reducing personal tax via negative gearing in property)</li>
<li>Investment diversification (investing in different markets or asset classes)</li>
</ul>
Which one applies to you? Maybe it’s a combination, but successful investors normally have one clear objective/vision for each purchase. <a target="_blank" href="https://www.housenet.com.au/blog/category/9/property-investment-development/view_/" title="Property investing blogs">These blogs</a> might help, and you may need to get professional advice at this point to work this out.
3. Research, learn &amp; network.
It’s important to do your homework and understand how property investing works. There are some excellent sites out there like <a target="_blank" href="https://realestatetalk.com.au/" title="Real Estate Talk">Kevin Turner’s Real Estate Talk</a> and <a target="_blank" href="https://propertyupdate.com.au/" title="Michael Yardney">Michael Yardney’s Property Update</a> that will give you plenty of resources to learn from.
There are also property forums and <a target="_blank" href="https://www.housenet.com.au/" title="Housenet">niche social networking sites like Housenet</a> where you can rub shoulders with professional investors and real estate experts. As in life, who you know is just as important as what you know, when learning property investing.  Housenet has many elite investors &amp; property advisers like <a target="_blank" href="https://www.housenet.com.au/ChrisGrayEmpire/" title="Chris Gray Your Empire">Chris Gray</a>, <a target="_blank" href="https://www.housenet.com.au/ben-kingsley-1180/" title="Ben Kingsley">Ben Kingsley</a>, <a target="_blank" href="https://www.housenet.com.au/michael-sloan-1801/" title="Michael Sloan">Michael Sloan</a> &amp; <a target="_blank" href="https://www.housenet.com.au/jane-slack-smith-158/" title="Jane Slack Smith">Jane Slack-Smith</a> who you can approach online.
4. Build your team of advisers.
Don’t walk alone. Investment property can get complex pretty fast, and almost always involves tax, financial planning, mortgage finance, and insurance elements.  Therefore, once you feel you’ve done enough research, start building a team of trusted advisers. These might include:
<ul>
<li>Accountant</li>
<li>Mortgage broker</li>
<li>Buyer’s agent</li>
<li>Solicitor/conveyancer</li>
<li>Financial planner</li>
</ul>
You can find plenty of good people in this<a target="_blank" href="https://www.housenet.com.au/user/browse/" title="Property industry directory"> property industry directory.</a>
5. Set criteria, search real estate &amp; buy the property.
The final step for successful property investing is to set a firm criteria for your purchase. Be clear about where to buy, what price range, what type of property, brand new or pre-existing etc. This criteria should meet the objective you set in step 2. Scatterguns don’t work well in property.
Most people still use the big portals like RealEstate.com.au &amp; Domain.com.au to search, but increasingly there are sites that ‘aggregate’ their listings in one place and offer extra useful data on each listing. At <a target="_blank" href="https://www.housenet.com.au/" title="Housenet">Housenet</a>, we partnered with Ripehouse to bring our members incredible FREE data on properties for sale.
<a target="_blank" href="https://www.housenet.com.au/" title="Join Housenet">When you join Housenet</a>, you can see how long each property has been on the market, when and how often the asking price has changed, and even price discounting.
6. Find a tenant!
You’re not really a  landlord until you have a tenant, but where to find one? Most investors use a real estate agent to manage their property, and you can <a href="https://www.housenet.com.au/user/browse/">find plenty of agents HERE</a>.
If you want to give it a go yourself, you’ll need to advertise for a tenant. You can do this on sites like Gumtree, Rent.com.au or place a a free listing in <a href="https://www.housenet.com.au/advancedmarketplace/">the Housenet classifieds</a>. Don’t forget to check their references, and good luck with your landlord dreams!
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Six essential steps for investing in property with success: Housenet's Darren Moffat 

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National Australia Bank’s chief economist Alan Oster has warned there will be a rise in mortgage delinquencies when interest rates inevitably return to normal levels in three to four years.
He says buyers tempted by historically low interest rates now will be struggling in a few years when they bounce back.
"People need to consider the stability of their employment over the next three to four years before taking out a new mortgage," Oster told The Australian.
“The subprime mortgage collapse in the US was triggered by increasing interest rates.”
The comments came after the Reserve Bank of Australia cut interest rates by 25-basis-points last Tuesday and banks passed the cuts on with rates of between 5% and 6%.
But he said he didn’t foresee interest rates rising again until 2015.
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Residential mortgage delinquencies to rise post-2016: NAB

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Buying in a so-called bulletproof suburb doesn’t guarantee that investors won’t be unscathed by property market fluctuations.
Despite the enthusiasm of property experts and analysts, Property Observer notes it's still possible to lose money in suburbs which on paper seem faultless.
Many buyers in Surry Hills, touted by the latest Australian Property Investor magazine as one of Australia's premier “bulletproof” suburbs, have lost money on their investments in the last few years.
According to Residex the suburb median has increased in value each calendar year for the past 10 years.
The median unit price is now $563,000, having grown an average of 5.2% each year for the past 10 years, according to Residex. The median rent is $615 a week and the gross rental yield is 5.6%.
But Property Observer has skimmed sales and found a selection of properties in Surry Hills where buyers made a loss on their supposedly bulletproof investment during the past decade.
In most cases it’s not that the properties were genuinely poor homes – as quite often the subsequent buyers made a healthy profit on the properties. But poor investment timing meant they perhaps chose the one period when the property went down in value.
Another common trait was people buying in new developments at an inflated price, especially if they bought in the Monument development on Oxford Street from Multiplex. There were multiple buyers reselling a year or two later at a significant loss. 
And it’s not just limited to the upper end of the market, with some properties at the lower end losing their buyers money.
Though units were more likely to lose money, several classic Surry Hills terraces made it on the list as well.
The Pelican Street development, The Monument (pictured below), is now a monument to lost dollars.  The 191-apartment building sold a number of units in the mid-2000s to late 2010s which have not resold well.
<img alt="monument-aug-13-two" height="313" width="470" src="/images/stories/2013/08/monument-aug-13-two.jpg">
Unit 403 was sold for the first time at a hefty $1.175 million in 2005. But in September 2011 it resold for $975,000 – a loss of $200,000 for its vendor.
Unit 413 initially sold for $866,000 in 2005 and then resold in March 2008 for $755,000 – a loss of $111,000. But it did bounce back, it then sold again in September 2012 for $930,000.
Waiting until 2012 did seem to mitigate the loss for a few investors but they still lost money.
Unit 1513 first sold for $1.345 million in 2007 and then at $1.295 million in 2012 –a comparatively small loss of $50,000.
And unit 1313 first sold for $875,000 in 2007 and then at $870,000 in 2012 – a loss of just $5,000.
And the Monument (pictured below) loss list goes on.
<img alt="monument-aug-13-flicker" height="264" width="470" src="/images/stories/2013/08/monument-aug-13-flicker.jpg">
Apartments in the St Margaret’s development on Bourke Street weren’t a guaranteed recipe of millions either.
Unit 39 in the 1930s former hospital building sold in 2007 for $1.25 million. In 2012 the same apartment sold for $1.21 million yielding a $40,000 loss.
Unit 309 in the same building first sold in 2005 for $615,000. Two years later in 2007 it sold for $577,000, a loss of $38,000. The next buyer did okay selling the property for $710,000 in 2012.
And unit 112 lost $20,000 from 2005 to 2009 after initially selling for $480,000.
The most dramatic in the complex was unit 1501, which first sold in 2006 for $3 million. It later traded at a profit for $4.01 million in 2011 - a profit of $1.01 million. But the bonanza didn't last long with it later selling for $3.825 million in May this year - a loss of $85,000.
 
<hr class="system-pagebreak">
Several other prestige apartments in Surry Hills also lost their owners money.
Unit 401/148 Goulburn Street first sold for $1.5 million in 2002. In 2012 it sold again for $1.2 million – a loss of $300,000.
And unit 6/56 Foster Street sold for $2.53 million in 2009 – making the vendor a $400,000 profit on their one year investment. The buyer didn’t have the same fortune, selling in 2012 for $2.5 million, losing $30,000 over three years.
Though less likely to haemorrhage money, some Surry Hills terraces did prove to be poor investment choices.
The traditionally sought after terraces make up about 30% of the dwellings in Surry Hills, according to the Australian Bureau of Statistics.
The corner terrace at 17 Kendall Street was one of the most recent cases in our list. The charming two bedroom home sold for $1.012 million in 2010. But in March this year it sold at auction for just $950,000 yielding a loss of $62,000 for the hapless vendor.
It has been listed for rent at $825 per week suggesting the new owner picked it up at a yield of 4.52%.
Another terrace sale with unfortunate timing is the 1890s-built <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-113643943?idir=1&amp;ret=realestate/agent/bresicwhitney+estate+agents+darlinghurst/bzmdar" target="_blank">115 Goodlet Street</a> (pictured below). In 2007 it sold for $809,000 but in 2009 in sold for just $740,000 – a loss of $69,000. One wonders if that vendor attended the recent May 25 auction where it sold for $901,000.
<img src="/images/stories/2013/08/surry_hills_one.jpg" width="470" height="353" alt="surry_hills_one">
And the lovely corner terrace at 418 Riley Street lost money during the financial crisis. It sold in 2007 for $1.027 million but then sold for just $1 million two years later. It went back on the rise though, in 2011 it sold for $1.35 million.
And it wasn’t just limited to prestige homes. At the lower end of the market unit 58/397 Bourke Street proved to be a poor investment. In 2008 it sold for $250,000 but then four years later it sold for $210,000 – a loss of $40,000.
Although these sales just show cases where investments went backwards there are countless examples of properties which stayed stagnant – effectively not moving in price for many years.
The costs of paying off a mortgage, the costs of selling, the cost of outgoings and the cost of lost opportunity means buyers can be left hurting from stale investments.
Though certain suburbs might seem bulletproof buyers still need to do their research or risk a fatal investment.
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Surry Hills property investors bleeding losses despite "bulletproof suburb" status

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A heritage listed former bank on Melbourne’s Camberwell Junction has been listed for auction with a newly signed 10 year lease.
The 1885-built church-like structure is the former English, Scottish and Australian Bank and current Hawthorn East premises of the 80-seat Meat &amp; Wine Co restaurant.
It currently earns $166,956 per year with fixed 4% annual rental growth.
<a target="_blank" href="https://www.realcommercial.com.au/property-retail-vic-camberwell-500820651">The brick building</a> is somewhat awkwardly wedged in to the<a target="_blank" href="https://www.propertyobserver.com.au/victoria/fkp-completes-construction-of-delayed-aerial-apartment-project-in-camberwell/2012110757688"> newly built Aerial residential development</a>, retained as a concession to the rich heritage of the area.
It was the subject of a $500,000 renewal in 2009 during the construction of Aerial.
In 2007 planning minister Justin Madden intervened in the VCAT case surrounding the $150 million development to push it through following strong community opposition <a target="_blank" href="https://www.propertyobserver.com.au/developments/completion-of-fkps-apartment-project-aerial-in-camberwell-junction-delayed/2012062255229">though it still suffered from construction delays</a>.
It was designed in the picturesque Gothic style by architects William Wardell and W L Vernon. Wardell was responsible for a number of buildings around Melbourne.
According to Heritage Victoria the branch was responsible for facilitating much of the suburban building boom in the area after the extension of the railway line from Hawthorn in 1882.
The sale includes nine secure car parks.
The Aerial development, by Queensland developer FKP, has 144 apartments and nine shops.
It goes to auction on Friday 23 August through Savills agents Nick Peden and Clinton Baxter.
It is expected to sell in the high $2 million range. 
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Camberwell Junction heritage bank restaurant premises listed for auction

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Commonwealth Bank chief executive Ian Narev says he doesn’t lose any sleep over concerns about a possible property bubble in Australia following record low interest rates.
He told a Sydney conference yesterday he doesn’t worry about the consequences of the Reserve Bank’s current policies but says lenders must be "very, very careful about just making hay when the sun shines" to avoid more loans going bad.
“I am absolutely confident that all direct and indirect consequences for the property market that may flow from a change in interest rates are absolutely thought through by the governor and his board,” Narev told the Aussie Home Loans three-day biannual sales conference in Sydney.
“I do not lose a moment’s sleep thinking about that. They think very carefully about a range of issues, they are absolutely aware of what effects different interest rate settings might have on the economy and I’ve got a lot of confidence that they... have a good perspective about that.
He says while people enjoy a lower interest rate environment the bank is aware of risks.
“It's always nice to pay lower interest rates than higher, but interest rates in an economy on a downward cycle are there for a reason.
"History will tell you that when the interest rate cycle starts to rise again… (banks must ensure) people on standard variable rates are going to be able to pay what they need to pay. So sometimes we're seen as the party poopers, but actually it's just that we need to be driving these things for the long term."
Narev says is often questioned by overseas investors on Australia's high house prices compared with incomes, but says banks here could weather double the level of unemployment and a 40% fall in prices.
Meanwhile the National Australia Bank has offered home owners <a target="_blank" href="https://www.propertyobserver.com.au/finance/nab-offers-%241000-cash-to-secure-new-borrowers/2013081264103">$1000 if they switch mortgages from rival banks</a> amid renewed aggressive competition between the banks.
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Commbank's Ian Narev loses no sleep over Australian property bubble risk

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

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Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

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The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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Alistair Walsh

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