<html><body>
Yachtsman and sailing journalist Rob Mundle is selling his resort-style apartment in Main Beach, Queensland.
The north-facing <a href="/news">Main Beach</a> townhouse-style apartment is set over three levels and comes with a rooftop entertaining terrace with 360-degree views, master bedroom with balcony and ensuite, under-cover security parking, and resort facilities.
McGrath agent Duncan Longmore is looking to sell the property for more than $500,000 at its October 28 auction.
Mundle bought <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-main-beach-qld-4217/167139" target="_blank">the property </a>for $500,000 in 2003.
Total outgoings for the property are $7,705 per year.
The apartment is in a boutique block of 16 apartments known as Woodroffe Place. A neighbouring apartment, listed at $380,000, rents for $380 per week.
The last sale in the building was in 2009 when unit six sold for $410,000.
And in 2008 a unit in the building sold for $445,000.
Mundle is the author of Bligh, Fatal Storm, Bond, Sir James Hardy and Ocean Warriors.
He is often referred to as the voice of sailing.
</body></html>

awalsh-7Ub9EypybQ

Sailor and writer Rob Mundle lists resort-style Main Beach apartment

<html><body>
Corio in Geelong has the strongest yields for units for all regional postcodes in Victoria, according to RP Data figures.
With a median price of $155,000 and median rental figure of $240 per week, RP Data suggests the suburb has a yield of 8.05% for units.
Looking at what’s currently available it seems the yields aren’t quite as high as RP Data figures suggest though.
<a href="https://www.realestate.com.au/property-unit-vic-corio-110599481">Unit 7 at 51-53 Merlin Crescent</a> is listed for sale at $165,000-$175,000. The last asking rent for the property was $220 per week in February this year, giving a yield of 6.54% if it sells for the upper bracket.
And <a href="https://www.realestate.com.au/property-unit-vic-corio-109715241">unit 1 at 82 Hendy Street</a> has been listed for sale at $189,000 to $199,000. Its last asking rent was $240 per week in July this year giving a yield of 6.27% if it sells for the upper bracket.
The suburb is followed by Ballarat Central, with yields of 6.88%, according to RP Data. It has a median price of $170,000 for units and a median rent of $225 per week.
Third is Mildura in north western Victoria, with unit yields of 6.66%. The median unit price is $148,000 and the median rent is $190 per week.
The top 15 rural postcodes with the highest yields for units are as follows.
<table width="418" cellpadding="0" cellspacing="0" border="0">
<colgroup>
<col width="116">
<col>
<col>
<col>
<col>
<col>
<col>
<col>
<col width="64">
<col>
<col>
<col>
<col>
<col>
<col>
<col>
<col width="88">
<col>
<col>
<col>
<col>
<col>
<col>
<col>
<col width="86">
<col>
<col>
<col>
<col>
<col>
<col>
<col>
<col width="64">
<col>
<col>
<col>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr height="20">
<td width="116" height="20">Suburb</td>
<td width="64">Postcode</td>
<td width="88">Median Price</td>
<td width="86">Median Rent</td>
<td width="64">Yield</td>
</tr>
<tr height="20">
<td height="20">Corio</td>
<td align="right">3214</td>
<td align="right">155000</td>
<td align="right">240</td>
<td align="right">8.05</td>
</tr>
<tr height="20">
<td height="20">Ballarat Central</td>
<td align="right">3350</td>
<td align="right">170000</td>
<td align="right">225</td>
<td align="right">6.88</td>
</tr>
<tr height="20">
<td height="20">Mildura</td>
<td align="right">3500</td>
<td align="right">148000</td>
<td align="right">190</td>
<td align="right">6.66</td>
</tr>
<tr height="20">
<td height="20">Cobram</td>
<td align="right">3664</td>
<td align="right">155000</td>
<td align="right">188</td>
<td align="right">6.31</td>
</tr>
<tr height="20">
<td height="20">East Geelong</td>
<td align="right">3219</td>
<td align="right">232000</td>
<td align="right">280</td>
<td align="right">6.28</td>
</tr>
<tr height="20">
<td height="20">Tatura</td>
<td align="right">3616</td>
<td align="right">167000</td>
<td align="right">195</td>
<td align="right">6.07</td>
</tr>
<tr height="20">
<td height="20">Melton</td>
<td align="right">3337</td>
<td align="right">224000</td>
<td align="right">260</td>
<td align="right">6.05</td>
</tr>
<tr height="20">
<td height="20">Norlane</td>
<td align="right">3214</td>
<td align="right">212000</td>
<td align="right">245</td>
<td align="right">6.01</td>
</tr>
<tr height="20">
<td height="20">Eaglehawk</td>
<td align="right">3556</td>
<td align="right">218000</td>
<td align="right">250</td>
<td align="right">5.98</td>
</tr>
<tr height="20">
<td height="20">Bendigo</td>
<td align="right">3550</td>
<td align="right">210000</td>
<td align="right">240</td>
<td align="right">5.94</td>
</tr>
<tr height="20">
<td height="20">Kangaroo Flat</td>
<td align="right">3555</td>
<td align="right">207000</td>
<td align="right">235</td>
<td align="right">5.91</td>
</tr>
<tr height="20">
<td height="20">Morwell</td>
<td align="right">3840</td>
<td align="right">141000</td>
<td align="right">160</td>
<td align="right">5.91</td>
</tr>
<tr height="20">
<td height="20">Yarrawonga</td>
<td align="right">3730</td>
<td align="right">210000</td>
<td align="right">235</td>
<td align="right">5.82</td>
</tr>
<tr height="20">
<td height="20">Mooroopna</td>
<td align="right">3616</td>
<td align="right">168000</td>
<td align="right">188</td>
<td align="right">5.8</td>
</tr>
</tbody>
</table>
</body></html>

Corio tops list of 15 rural Victorian localities with highest unit yields

<html><body>
A one-time notorious Kings Cross drug den sold at auction yesterday for $1.25 million, less than half what it traded for in 2002.

The 1995 Royal Commission that examined the drug trade investigated the Darlinghurst Road premises, formerly called Lasers.

In its heyday, drug seekers would head to the toilets in the premises, where they would pass money through a 30-centimetre by 30-centimetre hole in the ceiling and the drugs would would be passed back.

The drug joint was earning up to $20,000 a day, and the bouncers carried guns.  The den relied on police tip-offs before drug raids.
The nightclub closed before the vendor bought the property.
The building was sold under mortgagee instructions.
It was owned by a Burwood-based Chinese investor who had bought it from Thanae Investments Pty Ltd for $2.75 million in 2002 with a lucrative lease.

The streetfront space had been leased by the NSW state government's Health Administration Corporation, on behalf of K2, the health administration corporation. K2, the Kirketon Road Centre, which provided a needle syringe service, health and social welfare advice, assessment and referral to drug treatment.
In 2011 the needle exchange moved to Victoria Street in Potts Point, leaving the vendor without his key occupant. 
The Kirketon Road Centre signed the lease in 2001, paying $113,564 plus GST per year. The centre also paid 35% of the outgoings, which were set at $41,000 per year.

Rent reviews took place each year, and the rent was raised by CPI plus 1%. 

Agent Miron Solomons says the rent from that tenant was much higher than usual given the nature of the business.

Colliers agent Matthew Meynell says the rent reached a net of $210,000 per year for the property before the tenant moved out.

The only tenant in the building at sale date was an internet café, which was on an unofficial agreement with the vendor and paying a relatively low figure for the space.

It was bought by a national pharmaceutical chain, which plans to install a shop front on the ground floor, an internet café on the first floor and to convert the upper levels into short-term accommodation.
 
<hr class="system-pagebreak">
 
The property on Darlinghurst Road has lapsed approval for a boarding house and was being sold as a mortgagee sale by PPB Advisory. 

The five-storey building has a lower ground floor and first-floor retail, while the top three levels have lapsed development application approval for a five-bedroom boarding house with potential to convert them into residential apartments.

The building is potentially being offered as vacant possession or with a licence agreement for the first-floor retail area.

"There's huge residential demand in the area. Subject to council approval there is a conversion to residential down the track and an upgrade of the retail space," Solomons says.

In its current state the building is essentially unlettable. 

"You couldn't inhabit most of the building in its current state. Upstairs is really stripped out and a raw shell. It needs capital to improve it," Solomons says.

Meynell says the vendor simply didn’t have to liquidity to develop the property into a boarding house.

The property has current yearly outgoings of $18,405 of council rates, $1,081 of water rates and $37,705 of land tax.

It comes with an eight-metre frontage to Darlinghurst Road and rear access via Kellett Way.

It comes on 176 square metres and has net lettable area of 500 square metres.

Marketing for the property says most hotels in Kings Cross run at 90% occupancy rates while the residential apartment vacancy runs below 2%.

The property is zoned mixed-use 10, which allows for allow a mixture of compatible land uses in appropriate circumstances, such as residential, retail, commercial, light industrial and industrial development.

The marketing for the property was previously occupied as a night club, with no mention of its more salacious history. 

The 113-square-metre second floor is currently configured as a one-bedroom and studio apartment with laundry.

The 80-square-metre third floor is currently configured as three studio apartments.

The 57-square-metre fourth floor currently configured as two studio apartments.

None of the apartments have actually been completed, and they have not undergone separation of service.

Comparable sales include 48 Darlinghurst Road, a retail plus budget accommodation site on 171 square metres that sold for $3.85 million in 2011; 70A Darlinghurst Road, a retail and nightclub venue on 279 square metres that sold for $6 million in 2009; and 49 Darlinghurst Road, basement, ground and first-floor retail shop on 272 square metres that sold for $3.6 million in 2009.

Solomons says retails in the area range from $1,000 to $2,000 per square metre per year, office rents range from $400 to $600 per square metre. One-bedroom apartments rent anwhere from $350 per week to $800 per week.

He says he wasn't bowled over with interest at the auction, though there are always some bites at mortgagee sales.

The plans for the property were designed in 2009 by architects Antonius and Associates.

The site is not a heritage item but is located within the Heritage Conservation Area CA19-Elizabeth Bay Conservation Area and the Streetscape Area HS4-Darlinghurst Road.

</body></html>

Former Kings Cross drug den sells to pharmacy chain following K2 tenancy departure

<html><body>
Two Ballarat suburbs have experienced the strongest median house price growth in Victoria in the last quarter, according to Real Estate Institute of Victoria statistics.
Median house prices in Sebastopol, on the south side of the Goldfields city, increased 16.2% in the September quarter, while prices in Alfredton, on the west side, increased 15% over the quarter, according to the REIV September quarter property update.
They were the two star performers in the city, where median house prices increased 1.8% over the quarter.
The best-performing Melbourne suburbs over the quarter were Thornbury and Yarraville, where the quarterly change was 11.4% and 8.8% respectively.
Both Ballarat suburbs showed strong annual growth, suggesting it’s possibly a longer-term trend.
Median house prices are up 10.9% over the year in Sebastopol and 10% in Alfredton, according to the REIV.
The median house price in Sebastopol is now $254,000, while Alfredton is at $385,000.
Despite the headline price growth, not all listings reviewed by Property Observer matched the bullish data.
A 688-square-metre property (pictured below) at <a href="https://www.realestateview.com.au/Real-Estate/12-bridge-street-sebastopol/Property-Details-buy-residential-4456669" target="_blank">12 Bridge Street, Sebastopol,</a> is a three-bedroom home listed for sale at $265,000. It’s currently tenanted at $340 per week, earning a gross yield of 6.67%.
<img width="470" src="/images/stories/2012/10/bridgest.jpg">
But RP Data shows the property has been on the market for more than one year with the asking price steadily decreasing from $320,000.
The 703-square-metre property at <a href="https://www.realestateview.com.au/Real-Estate/149-albert-street-sebastopol/Property-Details-buy-residential-4376947" target="_blank">149 Albert Street</a> (pictured below) is a three-bedroom house listed for sale at $260,000. RP Data shows it was last offered for sale in 2009 at $240,000.
<img width="470" src="/images/stories/2012/10/albertst149.jpg">
 
<hr class="system-pagebreak">
 
In Alfredton, the four-bedroom home at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/1-belltower-avenue-alfredton/Property-Details-buy-residential-4491351">1 Belltower Avenue</a> (pictured below) is being offered for sale at $380,000. RP Data shows it was last offered in 2010 with an asking price of $360,000 to $380,000.
<img width="470" src="/images/stories/2012/10/belltower.jpg">
And the three-bedroom home at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/15-robertson-drive-alfredton/Property-Details-buy-residential-4005293">15 Robertson Drive</a> (pictured below) on 941 square metres is being offered for sale at $375,000 to $385,000. It has been on the market since may with an initial asking price of $375,000 to $405,000.
<img width="470" src="/images/stories/2012/10/robertsondr.jpg">
The median price in the whole of Ballarat is $285,000, up 1.9% over the year.
The median house price in three suburbs in Ballarat went down in price over the quarter – Redan went down 5.6%, Mount Clear went down 7.7% and Delacombe dropped 4.7%.
Property Observer notes there were fewer than 30 sales in Alfredton over the quarter.
<a target="_blank" href="/news">Sebastopol </a>is reportedly named after Sevastopol in the Ukraine, an important battle site during the Crimean War.
According to ABS the suburb has a population of 9,399 with 4,299 private dwellings.
<a target="_blank" href="/news">Alfredton </a>is a major part of Ballarat's growth corridor with a number of new housing estates.
The suburb has a population of 7,195, according to ABS, with 2,653 private dwellings.
</body></html>

Ballarat suburbs Sebastopol and Alfredton have strongest house price growth in Victoria in September quarter: REIV

<html><body>
All three school campuses of the former Mowbray College around Melbourne have sold for educational use.
Werribee-based Heathdale Christian College bought the Patterson Campus in Melton for an undisclosed sum. The site will reopen in 2014 as a kinder to year 4 school.
Intaj Khan, chief executive of The Western Institute of Technology, bought the Caroline Springs town centre campus for $6.7 million. His company will offer courses in building and construction at the site from November.
And Grace Children's Services bought the Brookside campus in Caroline Springs for $3.3 million. The company plans to run an preschool there and lease the remaining buildings to other schools.
The sales come four months after Mowbray College went into liquidation, after it was revealed the school had $18 million of outstanding debts.
</body></html>

All three Mowbray College campuses sell to education institutions

<html><body>
Grand Designs Australia will return tonight for a third season on Foxtel’s The LifeStyle Channel.
Architect Peter Maddison will be looking at the Mansfield home of farmer couple Pamela and Stuart.
The couple hope to incorporate an “indoor-outdoor lifestyle” to their new home, which leaves Maddison worried they are trying to bring Melbourne to Mansfield.
The couple formerly lived in a one-bedroom home requiring visitors to sleep under the stars, a tradition they wish to continue in some fashion.
In <a href="https://www.lifestyle.com.au/granddesigns/" target="_blank">another upcoming episode</a> the spotlight will be on the construction of another couple’s Balnarring home on a rural block.
The couple plan to build a grand home complete with a swimming pool and a wine cellar but run into difficulty with poor ground conditions.
Maddison notes the packing sand has effectively turned into quicksand, as foundation works set the project behind two months.
Shot over the past 12 months with 160 shooting days for Maddison, the Australian program charts the projects undertaken by self-builders – from the initial blueprints to the long and predictably arduous building of the property and the final moving in.
“Grand Designs Australia season three sees some incredible designs built with exotic materials, proving there is no one answer when it comes to selection or style,” says Maddison.
“All the brave home owners are searching for the right answer, and I've enjoyed trying to find the truth in each.”
The fourth episode looks at a couple in Warburton who bought a former water reservoir. They had planned on building a house cantilevered over the water until their feng shui expert advised against it. They have the site blessed by a Buddhist monk.
Over the course of the episode the couple start to doubt the veracity of the feng shui consultant's level of expertise.
Most of the episodes focus on rural constructions with other episodes in Byron Bay, Barossa Valley and Ocean View. There is one episode in Hampton and one episode in Annandale.
The show is based on the successful British series hosted by Kevin McCloud. His show is currently screening its 12th season.
<a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows">For lessons property investors can learn from property reality TV shows, download our free eBook.</a>
</body></html>

Grand Designs Australia returns for a third season

<html><body>
Sentiment in the property industry has dropped in resource states and picked up in the others, according to ANZ’s latest industry confidence survey.
Sentiment fell across the country for the second consecutive quarter from 106 points to 102 for the December quarter, though ACT, Victoria, NSW and Tasmania have improved, according to the latest Property Council of Australia-ANZ property industry confidence survey.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/10/pcaoct18.gif" rel="shadowbox"><img src="/images/stories/2012/10/pcaoct18thumb.gif"></a>
The survey polled more than 3,500 property and construction professionals from all states and territories for their forward-looking views.
The survey found the biggest mining states suffered the biggest declines, with NT, Queensland and WA posting the largest falls in sentiment.
NT dropped from 151 to 130 on the index, Queensland dropped from 113 to 96 and WA dropped from 136 to 120, with SA also declining slightly.
Queensland was the only state to shift from positive to negative sentiment over the quarter.
Despite falling confidence in resource states, the survey found most respondents did not think the mining boom was over.
Some 68% of respondents did not think the mining boom was over, and 27% believed their business’ performance would be reliant on the mining sector.
 
<hr class="system-pagebreak">
 
The survey found expectations for forward work have increased in Victoria and NSW, with respondents there having more faith in their own states than in the national economy.
The outlook for office space and retail sales in NSW and Victoria has also improved.
The survey found sentiment in the residential market has risen from 93 to 101, the first time in the survey’s five quarter history the sentiment has been positive. Sentiment for residential capital values rose in all states and territories, except for NT. It found housing construction expectations have also risen.
Confidence in funding projects has improved according to the survey, though staffing level expectations have fallen from 104 to 102 on the index.
The office market had the strongest investment potential over the next 12 months according to respondents, followed up residential, industrial, retirement living, shopping centres and then leisure/hotel/tourism property.
Property Council chief executive Peter Verwer says Australia’s largest property markets – NSW and Victoria – showed some encouraging signs.
“Respondents in these states have more faith in their local economy than the national economy, and expectations for forward work have improved,” Verwer says.
“Furthermore, although sentiment for debt funding availability is still negative, the shift in outlook here bodes well for future development.”
ANZ chief economist Warren Hogan says the survey shows a net balance of 13% of respondents believe economic growth will weaken over the next 12 months, up from 9% last quarter.
“We expect economic activity will remain relatively soft in the short term as Australia transitions to slower real income growth, with the terms of trade returning to pre-crisis levels,” Hogan says.
“Nonetheless, the medium term domestic economic outlook remains solid and will continue to be underpinned by strong growth in business investment.”
Hogan says though house prices remain soft in most Australian capital cities, prices have shown tentative signs of reaching a floor following recent RBA rate cuts.
“May and June RBA rate cuts are expected to be further supported by the October rate cut,” Hogan says.
“Residential auction activity has increased and auction clearance rates are at the highest level since 2010.”
</body></html>

Property industry confidence down in mining boom states but up in non-resource states: PCA-ANZ

<html><body>
One of the tightly held warehouse conversions in Sydney's Surry Hill has been listed for sale.
The property has been listed by <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Surry-Hills/?adid=2009994573">BresicWhitney</a> agents Shannan Whitney and William Phillips in conjuction with <a target="_blank" href="https://www.richardselliot.com.au/buying/11-13-phelps-street-surry-hills">Richards Elliot</a> agents Jerry Toller and Simon Hohnen. The agents are looking for $2.5 million plus for the property.
It last sold in 1991 for $270,000 to the current owners who converted into a gallery and residence.
The building is a former rubber stamp factory now known as the Stamp Factory and Gallery.
The early 1990s conversion was designed by architects Mark Hurcum and Nick Turner who have since worked on a number of large commercial, office and residential projects including the redevelopment of Campbell’s Stores in The Rocks and the planned 19-31 Pitt Street Sydney.
The three bedroom residence on 240 square metres comes with two street frontages. It consists of a warehouse fronting Phelps Street and a terrace fronting Arthur Street.
The marketing for the property celebrates the floating paved entry with water features, the central stone and steel kitchen the artist studio which has its own entry, the classically industrial high ceilings, and the privacy of its central courtyard.
The architects for the project say the brief was for the adaptive re-use of a rubber stamp factory into a private residence and art studio.
They say it was inspired by the client’s requirement for ‘Stonehenge-like’ use of light.
“Recycling much of the original fabric the old building was opened up to create a dynamic series of internal and external spaces,” the architects website says.
"This property was originally a stamp factory, which was still operational when last sold 1991," says BresicWhitney agent William Phillips.
<div style="margin: 0;"></div>
<div style="margin: 0;">"Via hearsay we understand it was a park/vacant land at the turn of the 20th century &amp; had been an industrial site for many years after that.</div>
<div style="margin: 0;"></div>
<div style="margin: 0;"></div>
<div style="margin: 0;"></div>
<div style="margin: 0;">"The major conversion, i.e. the conversion to residential/commercial was approved in 1991 &amp; the actual building (residence and gallery) was completed in 1992.</div>
<div style="margin: 0;"></div>
<div style="margin: 0;"></div>
<div style="margin: 0;"></div>
<div style="margin: 0;">"The original conversion won an architectural award (Daily Telegraph Architectural Awards) in 1993. This saw it featured on TV and in many publications: Vogue, Belle etc and from this notoriety it was often used for filming television advertising etc up until and now after its 2008 refurbishment.</div>
<div style="margin: 0;"></div>
<div style="margin: 0;"></div>
<div style="margin: 0;">Surry Hills was recently named as one of the most stylish neighbourhoods in the world by Complex magazine.</div>
Nearby, <a href="https://www.propertyobserver.com.au/new-south-wales/surry-hills-millionaires-show-a-flair-for-pricey-warehouse-conversions/2012022653560">Neville Miles sold his Surry Hills warehouse</a> in February this year for a record setting $5.71 million.
That 247 square metre warehouse dates back to the 1870s and was renovated by Hare + Klein.
</body></html>

Former stamp factory conversion listed in Surry Hills

<html><body>
Residential vacancies have slipped in every state capital except Brisbane and Darwin over September, according to SQM Research.
Hobart experienced the biggest proportional drop in vacancy rates, slipping from 2.7% in August with 730 vacancies to 2.3% in September with 632 vacancies.
Sydney's vacancy rate dropped slightly, from 1.8% at 9,773 vacancies in August to 1.7% in September at 9,296 vacancies.
Melbourne slipped ever so slightly from 11,702 vacancies to 11,649 vacancies, leaving the vacancy rate of 2.8% unchanged.
Canberra dropped from 1.2% with 590 vacancies to 1.1% with 538 vacancies.
Vacancies in Brisbane rose slightly from 4,003 vacancies in August to 4,231 vacancies in September, leaving the vacancy rate unchanged at 1.5%.
Darwin and Perth both recorded low vacancy rates as usual, at 0.5% and 0.6% respectively.
In Perth vacancies dropped from 1,177 to 1,063, and in Darwin vacancies rose slightly from 114 vacancies to 131 vacancies.
Melbourne’s vacancy rate was closest to the 3% figure SQM considers to be the equilibrium figure for residential figures.
Across the nation vacancies slipped from 50,774 to 49,664 leaving the vacancy rate unchanged at 1.8%.
SQM director Louis Christopher says the status quo remains unchanged across Australia.
“Residential rental vacancy rates remain in favour of landlords as has been the case for a number of years now. Going forward I see no material change to this current trend until there is a material increasing in housing completion levels. Currently there is no evidence that such an event is about to occur,” Christopher says.
</body></html>

Residential vacancy rates fall in every capital except Brisbane and Darwin in September: SQM Research

<html><body>
Gungahlin in the outer north of Canberra is the ACT suburb with the highest rental yield for units, according to information provided by RP Data.
The suburb has a median rental yield of 6.85% with a median weekly rent of $440 and a median price of $334,000.
Canberra city is the number two, with a median rental yield of 6.67%, a median weekly rent of $577.5 and a median price of $450,000.
Five of the suburbs have yields above 6%.
<table width="463" cellspacing="0" cellpadding="0" border="0">
<colgroup>
<col width="64">
<col width="92">
<col width="88">
<col width="86">
<col width="133">
</colgroup>
<tbody>
<tr height="20">
<td width="64" height="20">Postcode</td>
<td width="92">Suburb</td>
<td width="88">Median Price</td>
<td width="86">Median Rent</td>
<td width="133">Median Rental Yield</td>
</tr>
<tr height="20">
<td height="20" align="right">2912</td>
<td><a href="/news">GUNGAHLIN</a></td>
<td align="right">$334,000</td>
<td align="right">$440</td>
<td align="right">6.85%</td>
</tr>
<tr height="20">
<td height="20" align="right">2601</td>
<td><a href="/news">CITY</a></td>
<td align="right">$450,000</td>
<td align="right">$578</td>
<td align="right">6.67%</td>
</tr>
<tr height="20">
<td height="20" align="right">2612</td>
<td><a href="/news">BRADDON</a></td>
<td align="right">$424,000</td>
<td align="right">$500</td>
<td align="right">6.13%</td>
</tr>
<tr height="20">
<td height="20" align="right">2617</td>
<td><a href="/news">BRUCE</a></td>
<td align="right">$398,750</td>
<td align="right">$465</td>
<td align="right">6.06%</td>
</tr>
<tr height="20">
<td height="20" align="right">2902</td>
<td><a href="/news">KAMBAH</a></td>
<td align="right">$380,000</td>
<td align="right">$440</td>
<td align="right">6.02%</td>
</tr>
<tr height="20">
<td height="20" align="right">2612</td>
<td><a href="/news">TURNER</a></td>
<td align="right">$436,500</td>
<td align="right">$498</td>
<td align="right">5.93%</td>
</tr>
<tr height="20">
<td height="20" align="right">2913</td>
<td><a href="/news">PALMERSTON</a></td>
<td align="right">$380,000</td>
<td align="right">$430</td>
<td align="right">5.88%</td>
</tr>
<tr height="20">
<td height="20" align="right">2906</td>
<td><a href="/news">BANKS</a></td>
<td align="right">$375,000</td>
<td align="right">$420</td>
<td align="right">5.82%</td>
</tr>
<tr height="20">
<td height="20" align="right">2606</td>
<td><a href="/news">PHILLIP</a></td>
<td align="right">$429,000</td>
<td align="right">$480</td>
<td align="right">5.82%</td>
</tr>
<tr height="20">
<td height="20" align="right">2906</td>
<td><a href="/news">GORDON</a></td>
<td align="right">$369,000</td>
<td align="right">$413</td>
<td align="right">5.81%</td>
</tr>
</tbody>
</table>
Source:<a href="https://www.myrp.com.au/" target="_blank"> RP Data</a> 
</body></html>

Gungahlin tops list of 10 ACT suburbs with highest unit rental yields: 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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News