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There are more than 100 postcodes in Queensland with yields above 5% for houses, according to the Real Estate Institute of Queensland.
Yields are particularly firm in mining locations and those with affordable housing, it found in its latest gross rental yield report.
“Our property market has turned a corner over the past six months, and these robust yields reflect that sales prices had yet to fully rebound in the December quarter last year but rents had definitely increased,” REIQ chief executive Anton Kardash says.
“This year, there continues to be strong demand for rental properties from tenants which in turn is driving activity from investors.
“REIQ analysis of Australian Bureau of Statistics (ABS) housing finance data found that the number of investors in the Queensland property market in February had increased more than 10% compared to January this year.”
The highest yields for houses are found in <a target="_blank" href="/news">Miles</a>, at 9.3%. In the Western Downs region, Miles forms part of the Surat Basin Energy Province. According to RP Data, median prices in the area increased 17.5% in the last year.
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The town was initially called Dogwood Crossing by explorer Ludwig Leichhardt who passed through the district on three expeditions. It was later renamed Miles in honour of a local member of parliament.
In March, Terry Ryder pegged Miles as one of the Surat Basin towns which will continue to grow.
"They all had double-digit price increases last year and will continue to show more," he says.
One of the cheapest houses listed on online real estate portals is <a href="https://www.realestate.com.au/property-house-qld-miles-112459211">13 Daisy Street</a>. The three bedroom house on 809 square metres is listed at $280,000. The sales campaign started at $350,000 in December last year.
A new four bedroom house on 2514 square metres at <a href="https://www.realestate.com.au/property-house-qld-miles-113560763">Lot 20 Vowles Road</a> is listed for sale at $525,000. It advertises an unfurnished rent of $725 a week and a furnished rent of $1200 per week. The unfurnished rent would give a potential gross yield of 7.18%.
There are a number of <a href="https://www.realestate.com.au/property-house-qld-miles-110414053?listingType=buy">off-the-plan housing developments</a> being marketed, variously promising returns of around 9%.
Number two were <a target="_blank" href="/news">Russell </a>and <a target="_blank" href="/news">Macleay islands</a> at 9%. The Brisbane Bay islands boast plenty of affordable houses and a healthy rental market.
Number three was <a target="_blank" href="/news">Mount Morgan</a> at 8.7%. It is in the Rockhampton local government area, which features many affordable properties.
There were no Brisbane suburbs in the top 20. Brisbane first makes an appearance on the list at number 24 with the outer-southwest suburbs <a target="_blank" href="/news">Durack </a>and <a target="_blank" href="/news">Inala </a>at 6.2%.
The REIQ gross rental yields use weighted median rents and sale prices to derive yields, which is the annual income earned from a tenanted property divided by the purchase price.
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Miles heads Queensland's top 20 house yield locations with Brisbane suburbs missing the cut

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Mirvac has reportedly withdrawn from any acquisition bids of Australand Property Group, preferring to concentrate on smaller acquisitions, The Australian Financial Review’s Street Talk suggests.
It does not want to battle with GPT Group – the only other party to have submitted a bid for the company.
The supposed withdrawal of Mirvac will put the pressure on the trust whose principal shareholder, Capitaland from Singapore, wants to exit the business.
GPT put in a $3 billion bid for the company in December but it was quickly rejected after it became apparent it was merely cherry picking the best bits of the trust.
Mirvac is reportedly looking at a $575 million property portfolio on offer by US giant General Electric.
While Mirvac withdraws its interest, Apollo Global Management has reportedly stepped into the arena, joining Blackstone and Brookfield which have both been spotted in the data room.
Capitaland owns a 60% stake in Australand and wants to exit the trust, but any takeover must be agreed to by the board.
The group is being advised by Fort Street and Macquarie.
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Mirvac withdraws interest from Australand acquisition as Apollo takes a look

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A 1914-built church in Dunkeld, 250 kilometres west of Melbourne, has sold for $230,000, which was nearly double its price expectations going into auction.
Agent Bart O'Sullivan from Pat Rice &amp; Hawkins had hoped to sell the property in the Southern Grampians for more than $125,000, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/dunkeld-uniting-church-for-auction-with-%24125000-hopes/2013031759749">as reported in March</a>.
<img src="/images/stories/2013/04/dunkeldmarch15one.jpg" width="470" height="348" alt="dunkeldmarch15one">
O'Sullivan says it is very hard to gauge a price for properties of this nature.
“We quoted $125,000-plus through the marketing but we expected the market would eventually give us a true indication of what it was worth,” he told Property Observer.
“With the diverse range of inquiries you get on properties like this, it’s very hard to pinpoint.”
<img src="/images/stories/2013/04/dunkeldmarch15two.jpg" width="470" height="314" alt="dunkeldmarch15two">
There were five bidders at the auction. O’Sullivan says bidding was thick and fast with a bidding competition all the way.
The purchaser was a local person representing an outside party.
“It was a local gentleman who signed the contract. He paid the deposit,” O’Sullivan says.
“He may substitute himself closer to settlement or it might be put into another entity.”
<img src="/images/stories/2013/04/dunkeldmarch15three.jpg" width="470" height="314" alt="dunkeldmarch15three">
He says he doesn’t know what the purchaser will do with the property, which had interest from interstate, regional centres and locals.
“There’s always a host of ideas as to what could happen with the property. Some people look at residential, some look to develop a business. Being in the township there might be future redevelopment opportunities, but it’s always subject to approval.”
“We’re happy with the result and we were happy to have active competition on the day.”
<img src="/images/stories/2013/04/dunkeldmarch15four.jpg" width="470" height="314" alt="dunkeldmarch15four">
There will be a clearing sale on June 29 to offer the church pews and other fittings no longer required.
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Dunkeld church sells for nearly double expectations

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Frankston, a beachside satellite suburb, has the most affordable units in Melbourne, according to the Real Estate Institute of Victoria.

The REIV puts the median unit price in <a href="/news">Frankston</a> at $270,000 after the suburb's median unit price increased <a href="https://www.propertyobserver.com.au/victoria/frankston-and-carlton-ranks-among-melbourne-s-10-most-affordable-suburbs-for-units-reiv/2013041260364?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">2.7% over the March quarter</a>.
A search on online real estate portals reveals an array of units for under $300,000. 
<a href="https://www.realestateview.com.au/Real-Estate/9-430-nepean-highway-frankston/Property-Details-buy-residential-4293431" target="_blank">Unit 9 at 430 Nepean Highway</a> (pictured below), an eight-year-old two-bedroom unit marketed as an investment property, is listed at $240,000 to $265,000. According to RP Data it was last listed in 2010 at an optimistic $285,000 to $310,000.
<img src="/images/stories/2013/04/frankstonapril16one.jpg" width="470" height="353" alt="frankstonapril16one">
It January the property was advertised for rent at $270 per week, giving a potential yield of 5.3% if it sells for the upper bracket.
It is being listed by Deb Sanderson of Harcourts Frankston.
<a href="https://www.realestateview.com.au/Real-Estate/1-56-screen-street-frankston/Property-Details-buy-residential-5359713" target="_blank">Unit 1 at 56 Screen Street</a> (pictured below), an unequivocally retro two bedroom unit over 100 square metres, is listed for sale for more than $275,000. It is being listed by agents Katherine Vasilopoulos and George Findikakis from Eview Real Estate.
<img alt="frankstonapril16two" height="353" width="470" src="/images/stories/2013/04/frankstonapril16two.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/4-50-petrie-street-frankston/Property-Details-buy-residential-5356515">Unit 4 at 50 Petrie Street</a> (pictured below), a three bedroom unit 740 metres from the train station, is listed for sale at more than $250,000. It has an estimated rent of $1130 per month giving a potential yield of 5.42%. Body corporate comes to $235 per quarter.
<img alt="frankstonapril16three" height="312" width="470" src="/images/stories/2013/04/frankstonapril16three.jpg">
The asking price for the apartment has varied significantly over the last few years. In 2009 it was listed at $249,950, in 2011 it was listed at more than $260,000 and in 2012 it was listed at more than $230,000.
It is being listed by Sam Bucca from Eview Real Estate.
 
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<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/29-402-nepean-highway-frankston/Property-Details-buy-residential-4974289">Unit 29 at 402 Nepean Highway</a> (pictured below), a two-bedroom fully furnished unit on the first floor, is listed for sale at a negotiable $280,000.
<img src="/images/stories/2013/04/frankstonapril16four.jpg" width="470" height="353" alt="frankstonapril16four">
It has an advertised rental return of $240 per week giving a potential yield of 4.46%. It is marketed as having two large bedrooms though pictures show a rather tight squeeze in one of the rooms.
Up until January this year the apartment was listed at $245,000 to $260,000.
It is being listed by Mike Joy and Nicola Nakon from O'Brien Real Estate Chelsea.
<a target="_blank" href="https://www.realestate.com.au/property-unit-vic-frankston-113550183">Unit 9 at 1-3 Skye Road</a> (pictured below), a two-bedroom unit with a new kitchen and breakfast bar, is listed with price hopes of above $220,000.
<img src="/images/stories/2013/04/frankstonapril16five.jpg" width="470" height="310" alt="frankstonapril16five">
It is being listed by Ashley Weston of Ray White Frankston.
Off-the-plan units at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/10-12-davey-street-frankston/Property-Details-buy-residential-4835869">Airio</a>, a $50 million 97-apartment complex being developed by PNP Property Group, are being sold from $323,000.
And serviced apartments at <a target="_blank" href="https://www.propertyobserver.com.au/developments/frankston-eyesore-reborn-as-peninsula-on-the-bay-holiday-apartments/2013032559596">Peninsula on the Bay</a>, a 10-storey Nepean Highway complex, are being marketed for between $250,000 and $350,000.
Agent George Findikakis says sales in the area are driven predominantly by first-home buyers and investors.
“I think $270,000 is quite affordable for first-home buyers,” Findikakis says.
He says the new developments in the area aren’t affecting prices at the lower end of the market as they tend to be in a different price bracket.
“The market has been quite strong. At the start of last year it was a bit flat but consumer confidence picked up towards the end. Now with the election looming supply has gone down in last two or three months but prices are OK,” Findikakis says.
“I think this quarter should be quite good, as soon as the election is over. Next year is going to be better I think.”
Image of Frankston by Simon Yeo, courtesy of Flickr.
 
 
 
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Frankston has Melbourne's most affordable units with a $270,000 median

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Aussie Home Loans chief executive Stephen Porges has resigned following Commonwealth Bank’s purchase of an 80% stake in the company.
A statement released by the company today said he resigned to “pursue other interests”.
The Australian Financial Review reports that there is speculation Commonwealth Bank, which already has two seats on the board, may use its new majority ownership to appoint a new leader despite assertions the lender would remain independent.
On March 22 the Australian Competition and Consumer Commission approved Commonwealth Bank increasing its stake from 33% to 80% with rights to 100% ownership in 2016.
A spokesman for Commonwealth Bank told The Financial Review, “Any decisions regarding Aussie Home Loans’ CEO will be made by the AHL board”.
Executive chairman John Symond thanked Porges for his contribution to Aussie’s success since joining in 2008.
Aussie Home Loans operates a franchise network of around 750 mortgage brokers which distribute home loan products and retail products from bank and non-bank lenders.
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Aussie Home Loans CEO Stephen Porges resigns after Commbank acquisition 

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The Australian property market is in a “suckers’ rally”, property bear Steve Keen told an economic conference last week.
He has attributed recent house price growth to speculative activity by investors.
“All the growth in debt has come from people speculating on rising house prices, not by people owner-occupying,” he told the Bloomberg-organised conference, Fairfax Media reported.
''I think we're going through a rally - I'm calling a suckers' rally.''
The University of Western Sydney academic said sustained growth in the sector was unlikely, News Limited reported from the same conference.
All the turnaround since 2012 has been speculators getting into the market expecting prices rises,” he said.
He said Australian households were already highly indebted when compared to other countries.
"That is what is going to put the cap on price appreciation continuing."
Keen first called the market a "suckers’ rally" <a href="https://www.propertyobserver.com.au/industry-news/steve-keen-contemplates-quitting-australian-academia-for-possible-private-sector-role-in-london/2012103057536/Page-1" target="_blank">in October last year</a>, blaming low interest rates.
He predicted the rally would fizzle out with the housing market not responding to interest rate cuts because consumers already carried too much debt.
RP Data says the Australian capital cities are now approaching their previous peaks.
Sydney prices are now 0.1% above their November 2010 peak.
But Melbourne prices are 6.2% shy of their 2010 peak, Brisbane is still 9.5% shy of its November 2009 peak, Adelaide is 5.5% lower than its September 2010 peak and Hobart is 8.7% lower than its November 2009 peak.
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2012 property market growth a "suckers' rally": Steve Keen

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Vendor confidence increased over the March quarter driven by strong performance in Sydney and Darwin, according to SQM research.
Vendors across the capital cities were confident enough to lift asking prices, bringing the national capital city asking prices up 1.3%.
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But although the average asking price is up, Sydney, Darwin and Perth were the only cities with positive growth in asking prices.
Over the quarter, asking prices increased 4% in Sydney, 3.9% in Darwin and 0.1% in Perth. All other capital cities recorded reductions.
Canberra decreased asking prices by 3.8%, the biggest drop for all capital cities. Unit asking prices dropped 1.3%.
<a href="companies/sqm" target="_blank">SQM</a>’s Louis Christopher says it is clear Canberra’s market conditions remain weak.
“Overall the market was confident for the quarter however I note that there was a little more caution in the month of March,” Louis Christopher says.
“Melbourne is still recording some weakness and that goes with Canberra as well, which has most likely been affected by cuts in the Federal budget. Sydney and Darwin are leading the charge.
“However if it were not for the strong results in Sydney, it is most likely the national average would be recording market weakness for the quarter.”
In Melbourne, asking prices for house dropped 0.7% over the quarter while asking prices for units rose 1.1%.
Unit asking prices across the capital cities dropped 0.4%.
Hobart had the second strongest increase in asking prices for units, up 4.8%.
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Sydney and Darwin lead increases in asking prices: SQM

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Real estate agents in Melbourne failed to gauge the strength of the auction market in the lead up to the Easter crescendo with a Property Observer survey revealing 83% of successful auctions selling at prices above pre-auction price estimates by real estate agents. The super-success rate was higher than three similiar surveys undertake last Spring by Property Observer.
An analysis of 142 auction results between February and late March recorded by National Property Buyers showed 118 sold for above the upper bracket of the price guides provided by agents before auction.
Of those 118 properties, 43 sold for more than 10% above pre-auction price guides.
Those that sold above the price guide were 9.55% above the upper price guide bracket on average.
The clearance rate in the March quarter was 69%, well up from 62% in the December quarter, according to the REIV – a clear sign of gathering momentum in the market which agents failed to factor into their price guides.
Properties that sold for above $600,000 had the greatest discrepancy between price guide and sale prices – of the 85 results analysed, 78 sold for above the upper price bracket, or about 92%.
National Property Buyers agent Catherine Cashmore agreed there had been an increase in the number of properties selling for prices 5-10% above reserve, yet many advertised price quotes had not yet caught up to reflect the additional demand fuelling the rises.
"Although I can understand selling agents being cautious in light of the sudden, and strong, increase in turnover - maybe doubting it's longevity - but this is no excuse for not reflecting the 'current' stronger trend when quoting," she told Property Observer.
"They have the same sales data as I do - yet I can accurately assess the price range a property will sell for 99% of the time. 'Quoting low' remains an unfortunate reality buyers must battle against."
The most extreme disparity between price guide and actual result was a three bedroom brick veneer house in Heidelberg, 59 Cape Street, which sold for 41% above the price guide. Co-agents at Kelly &amp; Shiel Carlton and Kerry Davis quoted a pre-auction price guide of $780,000 to $860,000 but it sold for $1.215 million on February 23.
Five bidders made 83 bids on the property (pictured below) which had an $860,000 reserve, according to a Fairfax Media report.
<img alt="auctionsapril12one" height="263" width="470" src="/images/stories/2013/04/auctionsapril12one.jpg">
A four-bedroom house in Northcote, at <a href="https://www.realestate.com.au/property-house-vic-northcote-113079315">5 Ross Street</a>, sold for 35% above the price guide. Agents at Jellis Craig Clifton Hill quoted a price guide of $900,000 to $990,000 before the auction but it sold for $1.34 million on March 16.
There was a bidding war between two parties interested in building on the land, yielding 52 bids, according to a Fairfax report. There was a $1 million reserve.
 
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And a four bedroom townhouse in Surrey Hills, at <a href="https://www.realestate.com.au/property-townhouse-vic-surrey+hills-112934351">2/11A Scheele Street</a> (pictured below), sold for 33% above the price guide. Hocking Stuart Balwyn agents quoted a price guide of $950,000 to $1.05 million but it sold for $1.4 million on March 2.
<img alt="auctionsapril12two" height="332" width="470" src="/images/stories/2013/04/auctionsapril12two.jpg">
Seven bidders quickly pushed the property well past its $1.05 million reserve, according to Fairfax.
Just one property analysed sold for less than the pre-auction price guide – a two bedroom townhouse in <a href="https://www.realestate.com.au/property-townhouse-vic-kensington-112890859">Kensington, 51 Leicester Mews</a>, which had a guide of $660,000 to $720,00 but sold for $530,000.
Last October in a similiar survey undertaken by <a href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500">Property Observer</a><a href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500"> it was found 75% of auctions sold for above price guides</a>. An analysis of 74 sales over the four weeks of Spring sales found 55 properties sold above price guides.
And in early October <a href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988">Property Observer</a><a href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988"> put the figure at 75%</a>, with 46 of 61 properties selling above the price guide.
And a September analysis undertaken by <a href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435">Property Observer</a><a href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435"> of 220 auction results found 77% sold for above price guides</a>.
 
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Melbourne Autumn residential auction prices fetching well above price guides

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Unit rents in Melbourne increased in the March quarter despite recent additions to supply, according to APM’s March quarterly rental price series report.
Unit rents rose 2.9% in Melbourne over the March quarter, 3.8% in Perth, 2.2% in Sydney and 1.8% in Adelaide. Unit rents remained unchanged in other state capitals.
Nationally the median asking rent for units increased 2.2% in the three months ending March 2013.
House rents remained stable across the country, increasing 0.4% and unchanged in Melbourne. House rents rose 7.7% in Darwin over the quarter, 4.3% in Perth and 1% in Canberra.  House rents fell 3.1% in Hobart and remained unchanged elsewhere.
<img alt="apmapril11onethumb" src="/images/stories/2013/04/apmapril11onethumb.gif" width="470" height="211">
The unit rent rise in Melbourne came as a surprise to <a target="_blank" href="?option=com_googlesearch_cse&amp;q=APM">APM</a>’s senior economist Andrew Wilson. Recent increases in apartment supply in the city should have mitigated any increase in demand. It was Melbourne’s first unit rent rise for quite some time.
<img alt="apmapril11twothumb" src="/images/stories/2013/04/apmapril11twothumb.gif" width="470" height="211">
Melbourne’s house rents, unchanged over the quarter, are 28% lower than in Sydney.
He says increased demand for unit accommodation will continue in Sydney and Melbourne driven by affordability constraints and lifestyle preferences but in Melbourne, new apartment growth will act to offset rental increases.
House and unit rents remained unchanged in Brisbane suggesting homebuyers are being activated by low interest rates and low entry-level home prices are taking some demand away from the highly competitive rental market.
Perth’s continued rent increases were driven by record levels of new arrivals seeking accommodation.
Perth median house rent is currently at $490 a week and looks set to overtake Sydney as the most expensive of all the major capitals.
Darwin remains the most expensive capital city rental market with house rents at $700 per week and units at $550 per week.
Wilson predicts rent increases will continue in Perth, Darwin and Sydney due to chronic shortages of housing.
He predicts rental growth in Adelaide, Hobart and Canberra will remain subdued over the remainder of 2013 “reflecting the under-performance of those local economies”.
“For investors, Perth and Brisbane are both performing well. Perth gross yields for units at 5.82% are the highest of all the major capitals with house yields at 5.20% just behind the leader Brisbane at 5.22%. Brisbane unit yields are just behind Perth at 5.55% with plenty of potential upside for capital gains in a recovering market environment.”
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Unit rents rise in Melbourne despite supply additions: APM

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Hefty house rents in Sydney have been driving tenants towards cheaper rental units but this may lead to unit rents rising to the same level, according to Australian Property Monitors.
House rents remained unchanged at $500 per week over the March quarter, but unit rents increased 2.2% to $470 per week, according to APM’s March quarterly rental price series report.
Andrew Wilson, APM’s senior economist, says high median house rents of $500 per week are pushing Sydney tenants into units.
The gap now sits at $30 a week. In the March 2012 the gap was $50.
“With first home buyer numbers currently at record lows, demand is increasing for already scarce rental accommodation, particularly at the more affordable end of the price spectrum,” Wilson says.
“The differential between house rents and unit rents however is quickly closing with the real prospect looming of rental parity between these accommodation types.”
House rents in Sydney remained the same since the March 2012 quarter but unit rents increased $30 a week in the same time.
<img height="211" width="470" src="/images/stories/2013/04/apmapril11onethumb.gif" alt="apmapril11onethumb">
Sydney's house yields are up 0.7% over the quarter to 4.64% and unit yields increased 0.4% to 5.15%.
Nationally the median asking rent for units increased 2.2% in the three months ending March 2013, with Perth leading the pack.
Units rents rose 3.8% in Perth, 2.9% in Melbourne, 2.2% in Sydney and 1.8% in Adelaide. Unit rents remained unchanged in other state capitals.
<img height="211" width="470" src="/images/stories/2013/04/apmapril11twothumb.gif" alt="apmapril11twothumb">
House rents remained stable across the country, increasing 0.4%. House rents rose 7.7% in Darwin over the quarter, 4.3% in Perth and 1% in Canberra.  House rents fell 3.1% in Hobart and remained unchanged elsewhere.
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Sydney house rents push tenants into units: APM

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.

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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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