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The launch of Channel Seven’s new renovation pressure reality show, House Rules, was beaten by Channel Nine’s perennial favourite The Block Sky High, according to ratings from OzTAM.
The Block Sky High was the second highest rating show on Tuesday night with 1.308 million viewers across the city metro areas as its ratings continue to perform well.
<a href="https://www.propertyobserver.com.au/residential/house-rules-the-new-addictive-reality-television-show-on-the-block-renovates-for-keeps/2013051261200" target="_blank">The House Rules launch</a> rated 11th nationally, with 803,000 viewers.
Perth was the only market where House Rules rated higher than The Block Sky High. House Rules was the 4th most watched show in Perth – presumably as it featured a 1950s three-bedroom house in Perth.
House Rules performed the weakest in Sydney, coming in at 19th. The Block Sky High ranked 4th most popular show in Sydney.
House Rules is a state-versus-state renovation series from the makers of My Kitchen Rules and aims to deliver true home renovations.
The contestant couples (pictured below) have put their entire home on the line promising an emotional return to their new homes after the seven-day renovation.
{yoogallery src=[images/stories/2013/05/may10houserules]}
On its second outing, on Monday, The Block Sky High maintained its momentum with an audience of 1.281m only just down on Sunday night’s 1.312m debut.
As House Rules airs at 7.30pm on Tuesday, Wednesday and Thursday, it will go head to head again tonight and tomorrow night for 30 minutes given the The Block Sky High airs weeknights at 7pm for an hour.
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awalsh-7Ub9EypybQ

The Block Sky High hammers House Rules everywhere except Perth

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A seniors group says the newly announced $112 million pilot to help seniors downsize their homes was welcomed but unlikely to work.
The scheme, <a href="https://www.propertyobserver.com.au/demographics/federal-budget-s-trial-program-encouraging-downsizing-to-smaller-homes-without-affecting-aged-pensions/2013051461357?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">announced in yesterday’s federal budget release</a>, is designed to allow seniors to downsize their homes without reducing their age pension.
It will provide a means test exemption of up to $200,000 held in cash for ten years but does not include any stamp duty exemption and applicants will have to have owned their family home for at least 25 years.
The Combined Pensioners and Superannuants Association of NSW says the scheme looks unlikely to work.
“While the downsizing trial for age pensioners is laudable, it’s unlikely to encourage many pensioners to sell the family home and move into a smaller dwelling,” the group says.
“Pensioners welcome steps to make downsizing easier, but the 25-year home-owning rule is unnecessarily harsh and will exclude many because they’ve bought their house in their 40s or 50s.
“The restrictions on accessing money in the means-test-exempt fund will also discourage take-up of the offer because pensioners will be penalised for withdrawing money to pay for essential services like medical care.
“Stamp duty still acts as a major disincentive to downsizing.
"Pensioners living in the ACT will act as a litmus test in this trial, because the ACT exempts older people from paying stamp duty.
"The other states and territories should follow suit.”
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years.
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Seniors group says Swan's seniors house downsizing pilot unlikely to work

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Zara has lodged plans to open a $5 million store in Perth’s Murray Street Mall.
The Spanish clothing retailer will be the first major international clothing retailer to enter the Perth market.
Council documents show Zara plans to build a new two-storey building and with a one-storey addition to an existing retail building at 223-225 Murray Street Mall.
Zara opened its first Australian store in Pitt Street Mall in Sydney in 2011 followed by a Melbourne store in Bourke Street Mall. It has more than 1700 stores across 85 markets.
It is likely to be followed by Topshop, which is reportedly in negotiations with Hawaiian, the owner of Carillon City, for a shop in a redevelopment.
International retailers are looking to open around <a target="_blank" href="https://www.propertyobserver.com.au/retail/zara-topshop-and-uniqlo-lead-retail-property-push-into-australia/2013021859421">300 shops in Melbourne, Sydney, Perth and Brisbane over the next few years</a>, according to figures compiled by Colliers International in a new white paper.
Zara and Topshop will both be taking <a target="_blank" href="https://www.propertyobserver.com.au/retail/highpoint-scheduled-march-opening-for-zara-and-topshop-double-act/2013022059471">tenancy in GPT’s Highpoint Shopping Centre</a> in Maribynong, in Melbourne’s northwest.
And the Industry Superannuation Property Trust has plans for a $70 million retail and office redevelopment on Queen Street Mall to create flagship retail space to <a target="_blank" href="https://www.propertyobserver.com.au/retail/ispt-proposes-new-queen-street-brisbane-retail-to-lure-zara-and-topshop/2013032159978">lure Zara, Topshop and Forever21 to Brisbane</a>.
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Zara heading to Perth, with Topshop likely to follow

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A newly built solar powered rotating house is going to auction in Canberra’s outer-north.
Girasole, Italian for “turn to the sun” and “sunflower”, is mounted on tracks and is designed to follow the sun during winter and avoid the sun during summer.
The brainchild of builder John Andriolo, Girasole is supported by 28 wheels and driven by two three-speed motors.
<a target="_blank" href="https://dickson.ljhooker.com.au/69PFF92">The four-bedroom two-bathroom rotating home</a> has 173 square metres of living space, a four car garage and is designed to be environmentally friendly.
The roof and garage operates as catchment area for a 120,000 litre water tank beneath the garage. There are 24 solar panels which generate 10,500 kilowatts and the home is well insulated.
It takes 10 minutes to fully rotate and is controlled by a touch screen panel.
The house is on a 704 square metre block in The Ridge estate at Crace, with glorious views over the Gungaderra Grasslands which LJ Hooker marketing says will never be built out.
It was designed by architect Ross Norwood from DNA architects with interior design by Karin McNamara Design.
Andriolo, owner of MAG Constructions, says he was inspired by the teachings of Galileo when designing the house.
LJ Hooker agent Stephen Bunday says the home will appeal to those looking for something different.
“When I first heard about the concept of the rotating home I thought it was a little bit crazy. But because it was John Andriolo and I’ve worked with John many times before and I know how passionate he is about everything that he does I had to take it seriously,” Bunday says.
John Andriolo says he first thought of building the house when he was a child.
The rotating house is believed to be the first one in Canberra. Construction started on the property last year and was tracked by its own <a target="_blank" href="https://www.propertyobserver.com.au/https://www.facebook.com/pages/Rotating-house-Girasole-at-Crace/462242510483659">Facebook page</a>.
Engineer Peter McKay says similar homes in Australia suffer from excessive operating noise so they worked hard to make this one quiet. He says it is essentially silent.
It goes to auction on Wednesday May 15 but Bunday says interest has mainly come from those curious to see the build rather than serious buyers.
“I think that people are a bit worried it’s a prototype. It’s in a new area of Canberra which is a relatively new development; it’s only been developed over the last couple of years. If it was a tried and true suburb it might be different or if it was a rural setting,” Bunday says.
It almost featured on Grand Designs but Bunday says the location put things off. Though it looks over bushland the home is surrounded by vacant lots.
Bunday hopes the property will sell for more than $1 million.
<a target="_blank" href="https://www.everinghamrotatinghouse.com.au/Gallery-Inside">A rotating house called Everingham</a> near Wingham in NSW was featured on the ABC’s New Inventors programme in 2006.
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First rotating house in Canberra going to auction

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WA landlords will have to maintain minimum levels of door and window security and outdoor lighting for tenants following the introduction of new rental laws.
New legislation in WA covering tenancy agreements, bonds, databases and limit option fees will come into effect in July.
Refundable option fees for rental applications will be limited to either $50, for properties renting under $500 a week or $100 for properties renting below $1200 a week.
The options fees are charged to rental applicants and are often a week’s rent. They are refunded if the applicant is unsuccessful. Limiting the fees will allow renters to apply for multiple properties without incurring excessive fees.
All security bonds will be handled by a centralised body run by the Commerce Department instead of held in trusts by real estate agencies.
Property condition reports will now be compulsory at the end of each tenancy and landlords will be limited to four inspections per year.
Tenants will have access to tenancy databases which are used to check a tenant’s history with the ability to challenge inaccurate and outdated information.
And tenants will be able to seek emergency repairs where an owner has not taken action within 24 hours.
Commerce minister Michael Mischin says the laws will strengthen the rights of tenants and property owners.
“These changes were the result of extensive consultation with stakeholders and the community and will create a fairer rental market that balances the rights and interests of both tenants and property owners,” Mischin says.
The REIWA says told The Australian Financial Review they welcome the laws which strike the right balance between the interests of renters and landlords.
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New rental laws for WA landlords from July

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Meriton Boss Harry Triguboff has spent $39 million on a Sydney service station with plans to build a $300 million residential tower development.
The veteran developer has bought 150 Epping Road in Lane Cove from Bob Rose’s Rose Group, which received development approval for the site in August last year.
The site is approved for a concept plan of approximately 440 apartments with buildings ranging from six to 20 storeys, with 645 car spaces, 1,500 square metres of commercial and retail space and a 1850-square-metre community centre. The plans (pictured below) were designed by Conybeare Morrison.
<img alt="lanecovemay13two" height="708" width="470" src="/images/stories/2013/05/lanecovemay13two.jpg">
<img alt="lanecovemay13three" height="359" width="470" src="/images/stories/2013/05/lanecovemay13three.jpg">
Note: the image above depicts a 26-storey tower, but amended plans suggest the tower will be 20 storeys. 
The site is in bushland within 2.5 kilometres of Lane Cove Village.
<a target="_blank" href="https://www.youvu.com.au/150eppingroad">The 31,000-square-metre site</a> (pictured below) is leased to Shell until July this year.
<img alt="lanecovemay13one" height="314" width="470" src="/images/stories/2013/05/lanecovemay13one.gif">
The Australian reports Triguboff likes the area, in Sydney’s inner north, because it is close to major employers and it’s popular with Chinese buyers.
The sale was negotiated by CBRE’s Matthew Ramsay and Scott Gray-Spencer.
Rose Group bought the site in 1994 for $12 million, according to RP Data.
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Harry Triguboff buys Lane Cove service station with tower approval

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The Brisbane residential rental market swung further in favour of landlords in the March quarter with the vacancy rate tightening from 2.2% to 2.1%.
A balanced rental market is said to be at a vacancy rate of 3% with anything below that benchmark suggesting landlords have the upper hand in rental negotiations due to a shortage of available rental accommodation.
The vacancy rate remained tightest in the inner city – suburbs within 5 kilometres of the CBD – but unchanged at 2%.
A year ago the vacancy rate in the inner city was 1.4% reflecting perhaps the completion of a number of apartment projects in the inner ring.
“The addition of new apartments and a slight increase in investor activity should hopefully see vacancy rates ease over the coming year,” said REIQ chair Pamela Bennett.
“Recent data from the Residential Tenancies Authority (RTA) shows that median rental prices increased between December and March, with three bedroom houses up $10 to $410 per week and two bedroom units up $5 to $395 per week. The median rent for a four bedroom house increased by $20, now at $500 per week,” she added.
Of the 10 rental markets surrounding Brisbane, seven remain “tight” with only Caboolture, Redcliffe and Bay Islands considered “healthy” rental markets.
<table border="0" cellspacing="0" cellpadding="0" width="431"><tbody>
<tr>
<td width="192" nowrap>
AS AT END OF:
</td>
<td width="51">
Mar-13
</td>
<td width="51">
Dec-12
</td>
<td width="51">
Mar-12
</td>
<td width="24" nowrap></td>
<td width="63" nowrap>
Current market condition
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
SOUTHEAST QUEENSLAND
</td>
<td width="51" nowrap valign="bottom">
 
</td>
<td width="51" nowrap valign="bottom">
 
</td>
<td width="51" nowrap valign="bottom">
 
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
 
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Brisbane SD
</td>
<td width="51" nowrap valign="bottom">
2.1%
</td>
<td width="51" nowrap valign="bottom">
2.2%
</td>
<td width="51" nowrap valign="bottom">
2.2%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Brisbane City
</td>
<td width="51" nowrap valign="bottom">
2.1%
</td>
<td width="51" nowrap valign="bottom">
2.0%
</td>
<td width="51" nowrap valign="bottom">
1.7%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Brisbane Inner (0-5km)
</td>
<td width="51" nowrap valign="bottom">
2.0%
</td>
<td width="51" nowrap valign="bottom">
2.0%
</td>
<td width="51" nowrap valign="bottom">
1.4%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Brisbane Remainder
</td>
<td width="51" nowrap valign="bottom">
2.2%
</td>
<td width="51" nowrap valign="bottom">
2.0%
</td>
<td width="51" nowrap valign="bottom">
1.9%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Brisbane Surrounds
</td>
<td width="51" nowrap valign="bottom">
2.1%
</td>
<td width="51" nowrap valign="bottom">
2.3%
</td>
<td width="51" nowrap valign="bottom">
2.6%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Ipswich City
</td>
<td width="51" nowrap valign="bottom">
2.1%
</td>
<td width="51" nowrap valign="bottom">
2.1%
</td>
<td width="51" nowrap valign="bottom">
2.8%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Logan City
</td>
<td width="51" nowrap valign="bottom">
2.3%
</td>
<td width="51" nowrap valign="bottom">
2.5%
</td>
<td width="51" nowrap valign="bottom">
2.3%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Moreton Bay Regional
</td>
<td width="51" nowrap valign="bottom">
2.4%
</td>
<td width="51" nowrap valign="bottom">
2.5%
</td>
<td width="51" nowrap valign="bottom">
3.0%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Caboolture
</td>
<td width="51" nowrap valign="bottom">
2.5%
</td>
<td width="51" nowrap valign="bottom">
2.6%
</td>
<td width="51" nowrap valign="bottom">
3.4%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
healthy
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Pine Rivers
</td>
<td width="51" nowrap valign="bottom">
2.2%
</td>
<td width="51" nowrap valign="bottom">
1.2%
</td>
<td width="51" nowrap valign="bottom">
2.2%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Redcliffe
</td>
<td width="51" nowrap valign="bottom">
2.9%
</td>
<td width="51" nowrap valign="bottom">
3.4%
</td>
<td width="51" nowrap valign="bottom">
3.9%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
healthy
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Redland City
</td>
<td width="51" nowrap valign="bottom">
1.2%
</td>
<td width="51" nowrap valign="bottom">
1.8%
</td>
<td width="51" nowrap valign="bottom">
2.2%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Mainland
</td>
<td width="51" nowrap valign="bottom">
0.9%
</td>
<td width="51" nowrap valign="bottom">
1.7%
</td>
<td width="51" nowrap valign="bottom">
1.6%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
tight
</td>
</tr>
<tr>
<td width="192" nowrap valign="bottom">
Bay Islands
</td>
<td width="51" nowrap valign="bottom">
3.9%
</td>
<td width="51" nowrap valign="bottom">
2.2%
</td>
<td width="51" nowrap valign="bottom">
8.8%
</td>
<td width="24" nowrap valign="bottom"></td>
<td width="63" nowrap valign="bottom">
healthy
</td>
</tr>
</tbody></table>
Source: REIQ
 “Ipswich City was the only region not to record any movement in its vacancy rate, unchanged at 2.1% as at the end of March and consistent with agents commenting on strong demand,” said Bennett.
“Logan City’s vacancy rate dipped slightly 2.3%, down from 2.5% recorded for the end of December.
According to agents, people are moving to the region from other parts of Queensland and interstate.
“The vacancy rate for the Moreton Bay region remained steady, recording a vacancy rate of 2.4% as at the end of March. RTA median rental data showed median rents rose by $5 for both three and four bedroom house, now at $330 and $380 respectively.
“Vacancy levels decreased in the Redland City region overall, now at 1.2% as at the end of March. On the mainland, vacancy rates fell to 0.9%, as REIQ accredited agents have found that demand has been higher than normal, and new tenants were being approved even before the previous tenant had vacated.
Only one market – the Southern Moreton Bay Islands, incorporating Russell, Karragarra, Lamb and Macleay Islands – has a vacancy rate of 3.9%. This is up from 2.2% in December 2012 reflecting seasonal demand for holiday rentals. The March vacancy rate is well down on the 8.8% vacancy rate a year ago.
The REIQ notes that the bay islands area saw some holiday rentals being marketed instead as residential rental properties,” partially influencing an increase in the area’s vacancy rate to 3.9%.
While the rental market remains constrained, some REIQ accredited agents have noted lower demand within specific areas now that the academic intake period has ceased.
“Even though the academic calendar is in full swing, the Brisbane rental market remains competitive with about two to five applications per rental listing,” said REIA chief execurive Anton Kardash.
“Part of the reason why the market is certainly a case of more demand than supply is that first home buyers are largely remaining on the sidelines of the sales market following the removal of the First Home Owners Grant last year.”
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Brisbane rental market tightens to 2.1% vacancy rate in March quarter with rents rising

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CBRE has launched its 2013 urban photography competition, inviting entries for images depicting cities at work.
The competition was established in 2007 and last year it attracted 8000 entries from 115 countries.
The competition is open to amateur and professional photographers looking to capture “the essence of urban life at any time of day, be it poignant, inspiring, quirky or amusing”.
Entrants stand to win a luxury photo safari from a range of exotic locations as well as other smaller prizes.
Last year, UK photographer Fraser Perrie won the competition with an image of cobblers beneath the streets of New York.  Australian Graeme Edwards was runner-up with an image taken in Melbourne.
“We are very proud that an entry from Australia came in second place last year, let’s try and go one better this year,” says Tom Southern, president and chief executive of CBRE Australia.
Categories this year include transport, workplace, architecture, urban regeneration, cityscape and environment.
And photos will represent a certain hour of day in a city with awards for each different hour.
Entries close on August 31 2013.
For more information visit <a target="_blank" href="https://www.cbrephotographer.com/">https://www.cbrephotographer.com/</a>.
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CBRE launches urban photography competition

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Two more rural Victorian churches have been listed for auction.
St Dominic’s, a Catholic church in Dingee, 40 kilometres north of Bendigo, and St Saviours, a nearby Anglican church in Serpentine have been listed for auction through FP Nevins &amp; Co.
<a target="_blank" href="https://www.realestate.com.au/property-other-vic-dingee-113593031">St Dominic’s</a> (pictured below) is a 1900s weatherboard church on around 1000 square metres. Final mass at the church was said in September last year and it was then deconsecrated.
<img alt="churchmay10one" height="347" width="470" src="/images/stories/2013/05/churchmay10one.jpg">
<a target="_blank" href="https://www.realestate.com.au/property-other-vic-serpentine-113522339">St Saviour’s</a> (pictured below) is an Edwardian style timber church with a traditional bell tower, a separate vestry room and a porch all on 1000 square metres.
<img alt="churchmay10two" height="408" width="470" src="/images/stories/2013/05/churchmay10two.jpg">
It was built in 1912 by PR Mann from Sussex in honour of his deceased wife with the help of reverend JD Watsford.
It was built from red gum plates and blocks, with a hard-wood frame and weather board outside.
It was the first time a bell had sounded in Serpentine.
At the time it was against the rules for the Catholic church to consecrate a wooden building but permission was given after it was explained the nearest bricks would have come from Bendigo.
From 1912 to 2012 there were 61 different priests and readers appointed to the church with 46 others as preachers of the day.
Two former priests, JD Watsford, and Rev. E.G.Laverick died with the sinking of the hospital ship Centaur.
Agent James Nevins says St Saviour’s will be deconsecrated between sale and settlement.
He has sold four Anglican churches in the past six months citing dwindling smaller congregations.
“It’s the old philosophy. If you don’t use it you lose it,” he said.
He says the churches around the area generally sell quite well with strong interest from renovators.
Last year he sold St Mary’s church in Kingower to state water and agriculture minister Peter Walsh, whose great-great-grandfather built the property, for $140,000.
Nevins anticipates these latest listings will be converted to residential properties.
“They are a unique part of Australian life. If done right they can be spectacular,” Nevins says.
St Dominic’s is expected to sell for $50,000 to $60,000 while St Saviour’s is expected to sell for $80,000 to $100,000.
They go to auction on May 18.
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Two more rural Victorian churches listed for auction

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Sydney has the lowest average time on market for houses and units and the second lowest average vendor discounting for houses of all the capital cities, according to RP Data.
Houses spend an average of 36 days on the market in Sydney, with the average discount at 6.9%. Units sell slightly quicker at 32 days and at a discount of 5.3%.
Darwin has the lowest vendor discount for houses at 4% while Perth has the lowest for units at 2.3%.
Houses take the longest to sell in Hobart, at 83 days, and units take the longest in Darwin, at 101 days.
Houses are the most discounted in Brisbane, at 8.7% and Adelaide has the most discounted units at 8.1%.
<img height="321" width="470" src="/images/stories/2013/05/rpdatatimeonmarketmay7one.jpg" alt="rpdatatimeonmarketmay7one">
<img height="325" width="370" src="/images/stories/2013/05/rpdatatimeonmarketmay7two.jpg" alt="rpdatatimeonmarketmay7two">
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Sydney houses sell faster than other capital cities: RP Data

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."

[smartcode_project:default project_id=1979 project_image_fid=363268]

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.

[smartcode_project:default project_id=1979 project_image_fid=363229]

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.

[smartcode_project:default project_id=1979 project_image_fid=363284]

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."

[smartcode_project:default project_id=1979 project_image_fid=363228]

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."

[smartcode_project_cta:default project_id=1979]

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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

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."

[smartcode_project:default project_id=150713 project_image_fid=373827]

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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."

[smartcode_project:default project_id=151449 project_image_fid=357463]

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

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>.

[smartcode_project_cta:default project_id=151449]

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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<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.

[smartcode_project_cta:default project_id=134951]

Alistair Walsh

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