<html><body>
Rino Grollo sold most of his 24 redundant Mount Buller holdings at auction today.
More than $4 million of property sold under the hammer and in the minutes after the mass auction.
Some 17 sold at auction, two sold prior and five properties were passed in but three of sold immediately after.
Castran agent John Castran conducted the auction and says he and Rino were happy with the auction, which had 43 registered bidders.
<img src="/images/stories/2012/09/snowauction1.jpg">
"Rino's happy. There's plenty of new people to ride his ski lifts now," Castran says.
Castran says most of the buyers were leisure seekers rather than investors. He says most of the buyers were buying without borrowing any money.
The stand-out performer was the Stables Chalet, which sold for $980,000 after being marketed with $900,000-plus hopes.
The four-bedroom chalet was designed by architects Bruce Henderson and Provan Burdett. The property won awards at the state and national Master Builder Australia awards.
It is built from local stone and timber, and the new owner will be able to ski in and ski out from the Chamois ski run.
The property includes three bathrooms, open-plan kitchen, dining and living areas, a garage, stone benchtops, stainless steel appliances, laundry/drying rooms, a heated driveway and fireplace.
There were three bidders after the property was announced on the market at $900,000, including one late bidder on the phone.
After bids hit $900,000 they came in $5,000 increments then jumping $10,000 per bid to $970,000 when two bids to $980,000.
 
<hr class="system-pagebreak">
 
Bidder interest wasn’t matched with the Skyline Penthouse in the Chalet Hotel. It had been expected to sell for $900,000 but it passed in on a vendor bid of $800,000.
<img src="/images/stories/2012/09/snowauction2.jpg">
It did sell after auction though with Castran securing just shy of $1 million.
The recently renovated three-bedroom suite includes access to all the luxuries expected with a hotel.
Before auction, Castran relayed a message from Grollo saying, “Today is the day to buy because today is the day I’m selling”.
True to his word he was willing to come down in price on some properties, including the Kirstie Marshall Homestead, which sold for $137,000 despite his insistence $140,000 was the lowest he could accept.
Interest in the freehold small building block land offerings out of the ski slopes at Sawmill Settlement wasn’t as strong, with Castran working hard for every bid.
He said the <a target="_blank" href="/news">Mt Buller</a> lots were selling for almost the same amount that they cost to develop.
He even got to down to $1 bid to get it over the reserve price of $45,000 in two instances for blocks at the Sawmill Settlement location at the foot of the mountain.
Prices for the 12 St Anton apartments ranged from $120,000 to $205,000, having been marketed as likely to secure between $130,000 and $225,000.
Interest in the auction had been strong, with Castran inundated with 600 pre-auction inquiries. There were more than 100 at the auction.
Castran said the results showed the market was price-sensitive with the discretionary acquistions trading at about 20% below last year’s prices.
But he said he hadn’t seen $900-plus prices in?Mt Buller for two years.
Auction attendees at the city auction premises weople were ushered into the 19th-level board room by ski instructors in full garb. It's especially impressive given the weather topped 31 degrees in Melbourne.
Buyers were required to pay a 10% deposit up front with a 60-day settlement period. There was no GST payable, and furniture was included.
</body></html>

awalsh-7Ub9EypybQ

Cashed-up skiers snare 22 of Grollo family Mt Buller snow auction offerings

<html><body>
Low interest rates could lead to property bubbles in some markets according to the head of property at the The Future Fund.
Barry Brakey says low interest rates could lead to strong growth in property values which could lead then to property bubble scenarios.
Brakey’s comments at a Melbourne real estate forum, came after the Reserve Bank of Australia lowered interest rates by 25 basis points to 3.25%.
“We think that this financial repression, if you like, of interest rates around the world can lead to bubbles forming in different markets, and we want to be really careful that we’re on the right side of that,” Brakey says.
He was reported by The Australian as noting recent low interest rates was cause for some concern in Australia’s sovereign wealth fund.
He said Australia’s property investors should be wary of the inflation caused by a lot of capital waiting to be invested directly into the Australian property market.
Brakey says Australia’s property market is already attracting overseas investors and there are many waiting to invest. He says they are all looking to invest in core property but there is only a limited amount of high-quality property on offer.
“We’ve seen a flight to the core around the world,” Brakey says.
He says the Future Fund was concerned about the overvaluing of Australian property which was holding it back from investing more in Australia.
“What that means for us is that we lie to invest in Australia. WE have a third of our investments in Australia (and) would have more if we could but in the end we won’t give up investment returns”
The Future Fund is an independently managed investment fund established in 2006 into which the Australian Government deposits its budget surplus. It holds $4.95 billion in property around the world.
</body></html>

Low interest rates could lead to property bubble: Future Fund

<html><body>
Suncorp Bank has declined to confirm if police had been notified about a bank account possibly used in a Surry Hills rental scam that Property Observer reported on last Friday.
The scammer was <a target="_blank" href="https://www.propertyobserver.com.au/residential/no-nobb-as-surry-hills-sydney-online-rental-scammer-uncovered/2012092756861">trying to trick buyers into paying a deposit for a luxury Surry Hills terrace</a>.
The bank account the scammer wanted victims to deposit money into was held with Suncorp Bank under an account number that Property Observer supplied to Suncorp.
A Suncorp spokesperson said he could not comment on individual cases and could not confirm whether the police had been involved in this instance.
“We do know that in some online fraud/scamming cases, the account holders can often be victims themselves,” the spokesperson says.
Property Observer notes it is entirely possibly the account number is fake and part of the elaborate scam.
A prospective Sydney renter stumbled onto the online scam on the classified ad site Gumtree and emailed the poster about the property.
She luckily recognised the hallmarks of a scam as soon as the scammers emailed her back.
The renter, Kieryn, then baited the scammer to draw as much information out as possible and glean how the scam worked.
The original ad was deleted not long after when it was reported by the genuine listing agent of the property.
 
<hr class="system-pagebreak">
 
According to the ACC’s Scamwatch website, this sort of rental scam is a common trick.
“Scamwatch is warning prospective tenants to be wary when responding to rental properties advertised on the net where the 'owner' makes various excuses as to why you can't inspect the property but insists on an upfront payment for rent or deposit,” Scamwatch advises.
“Scammers will often use various shared accommodation sites to post these fake listings. They will go to great lengths to ensure that the offer looks genuine by including photos and real addresses of properties. However, photos and details of properties can be easily obtained on the internet.
“Once hooked, the scammer will request money, often via money transfer, or personal details upfront to 'secure' the rental property. Scamwatch warns consumers not to send money or provide personal details to people you don't know and trust.”
In the Surry Hills case, the scammers said they were in London and just needed someone to fill the vacancy. They were unable to allow Kieryn an inspection of the property and demanded an up-front payment to secure it.
Kieryn promised to pay on the agreement they meet a variety of conditions that no normal tenant would require. Where normal landlords would run, the scammers kept pushing Kieryn to pay money into their Suncorp account.
They scammers had taken details of a real rental listing from an online rental portal.
The agent who had listed the property was aware of the scam and had alerted Gumtree to remove the ad.
The scammers had listed the same property at a quarter of the price the real agent was asking.
Scamwatch says to watch for offers that are too good to be true, owners giving ongoing excuses as to why the property cannot be viewed, securing the property requiring an up-front fee via money transfer and prospective landlords living overseas.
The scam has been increasingly prominent overseas, with US scammers even changing the locks of listed houses to give fake inspections and then pocketing the deposits.
</body></html>

Suncorp won't say if police have been notified over Surry Hills scammer account

<html><body>
New home sales fell 5.3% in August 2012 to reach a 15-year low, according to the HIA new home sales report.
The survey of Australia’s largest home builders found a decline of 5.8% in the detached housing segment and a 2.5% decline in the multi-unit market.
HIA’s Dr Harley Dale says the results warrant future interest rate cuts.
Click to enlarge
<a href="/images/stories/2012/09/hiaoct3.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/hiaoct3thumb.gif"></a>
"New home sales for August are the latest in a string of soft new housing updates for this financial year, and that follows a very weak year for new home building in 2011-12,” Dale says.
“Indeed, following two consecutive years of decline in new housing starts over 2010-11 and 2011-12, and leading indicators pointing to weakness extending into 2012-13, policy settings in August 2012 were clearly inappropriate.
“A fresh round of interest rate cuts will help rebalance this situation, although financial institutions obviously need to play their role in cementing this outcome.”
He used to the results to call for lower taxes on the building industry.
“It remains the case, however, that rate cuts won’t single-handedly generate the new home building recovery Australia requires. Governments have an important role to play in driving reform measures to lower the excessive tax base faced by the sector."
“In 2012 that reform process remains too slow and in some quarters is virtually non-existent,” adds Dale.
On a city basis, the number of seasonally adjusted new detached house sales fell by 7% in New South Wales, 8.6% in Victoria, 2.9% in Queensland, 2.6% in South Australia, and 9.4% in Western Australia.
</body></html>

HIA calls for interest rate cuts and lower taxes as new home sales reach 15-year low

<html><body>
Construction has begun on Wet’n’Wild Sydney in the western suburb of Prospect.
Village Roadshow has started initial clearing works on the $115 million project, which is expected to deliver 300 construction jobs and 300 permanent jobs.
The 25-hectare site, opened by Premier Barry O’Farrell, will even include an inland surf beach when it opens in December next year.
The park will have 42 slides and attractions including a 150-metre surf pool, a 70-metre wave pool with three-metre swells, the world's tallest looping tube complex and a double SkyCoaster.
The project is expected to attract 900,000 visitors a year, with 20% of those coming from interstate and overseas, and is expected to generate $500 million for NSW in its first 10 years.
<img src="/images/stories/2012/09/wetnwild.jpg">
Village Roadshow is paying $7 million for upgrading roads around the site, which it will then lease from the government.
Wet’n’Wild Sydney will be the second water park built in Australia by Village Roadshow, joining the existing park in the Gold Coast. Village Roadshow has also built two waterparks in Phoenix and Hawaii in the United States.
Design firm The Buchan Group have been appointed to manage the master-planning, architecture, interior design, graphics and signage components for the project.
The Buchan Group’s Nathan Hones says the project offered a unique set challenges for the design team.
“The finished water park is expected to host up to 15,000 guests per day in the peak periods, so durability, maintenance and safety were key design elements,” Hones says.
“The finished product must cater for a range of demographics, from toddlers all the way to grandparents, and the team took this into consideration during the master-planning process.
“The design for Wet’n’Wild Sydney incorporates cutting edge technology in areas such as ticketing, food and beverage delivery, and marketing channels including online ticketing platforms and social media integration.
“Efficient use of water was a design priority, resulting in a range of sustainable initiatives including the use of rainwater and recycled storm-water for 90 per cent of the park’s irrigation, wash-down and toilets, and the use of the latest water filtration technology that requires less backwashing.”
</body></html>

New Wet'n'Wild waterpark for Prospect in Sydney's west

<html><body>
The former boss of Billabong, Matthew Perrin, has appeared in the Brisbane Magistrate’s Court on charges of defrauding the Commonwealth Bank of Australia of $13.5 million.
The court took Perrin's passport, potentially thwarting plans to marry his fiancée Belinda Otton in a Thailand wedding in December.
Police allege Perrin, 40, provided false documents and a guarantee relating to mortgages taken out on a Gold Coast home in 2008.
Perrin allegedly forged the signature of his now ex-wife, Nicole Bricknell.
Perrin was granted bail and though he argued he was not a flight risk, he had his passport confiscated.
Perrin’s lawyer, Peter Shields, indicated Perrin would plead not guilty.
His appearance in court comes after a three-year investigation by the Queensland Police’s corporate crime division.
The former millionaire and BRW Rich List regular wanted to go to Phuket to be married.
Magistrate Anne Thacker found there was no compelling reason for Perrin to leave and ordered he surrender his passport.
Perrin is now forbidden from contacting three witnesses, including his ex-wife.
The case goes back to court in November 26, and Perrin must stay at his Bundall address.
Perrin, the man who floated surfwear company Billabong, was once worth $150 million, but three defunct companies and a failed marriage later, he is is bankrupt and facing criminal charges.
Perrin lost most of his Billabong fortune in China in 2005, propping up a failing business. The GFC gave him an additional hit, and he filed for bankruptcy in March 2009.
After filing for bankruptcy, Perrin’s marriage to Nicole, the daughter of former bookmaker Laurie Bricknell, fell apart when it emerged Perrin had an affair with his current fiancee Belinda Otton.
Victoria Bricknell <a href="/news">listed the seven-bedroom property for sale in January</a> this year after a failed attempt by the Commonwealth Bank to repossess the home.
</body></html>

Billabong's Matthew Perrin in court over alleged mortgage fraud

<html><body>
<table border="0" cellspacing="0" cellpadding="0" width="459"><tbody>
<tr>
<td width="83">
Suburb
</td>
<td width="104">
Median price
</td>
<td width="111">
Median weekly rent
</td>
<td width="161">
Median rental yield
</td>
</tr>
<tr>
<td width="83">
<a href="/news">BLACKETT</a>
</td>
<td width="104">
$229,500
</td>
<td width="111">
$310
</td>
<td width="161">
7%
</td>
</tr>
<tr>
<td width="83">
<a href="/news">WILLMOT</a>
</td>
<td width="104">
$224,250
</td>
<td width="111">
$300
</td>
<td width="161">
7%
</td>
</tr>
<tr>
<td width="83">
<a href="/news">TREGEAR</a>
</td>
<td width="104">
$227,000
</td>
<td width="111">
$303
</td>
<td width="161">
6.9%
</td>
</tr>
<tr>
<td width="83">
<a href="/news">LETHBRIDGE PARK</a>
</td>
<td width="104">
$229,500
</td>
<td width="111">
$300
</td>
<td width="161">
6.8%
</td>
</tr>
<tr>
<td width="83">
<a href="/news">EMERTON</a>
</td>
<td width="104">
$251,500
</td>
<td width="111">
$328
</td>
<td width="161">
6.8%
</td>
</tr>
<tr>
<td width="83">
<a href="/news">WHALAN</a>
</td>
<td width="104">
$247,250
</td>
<td width="111">
$320
</td>
<td width="161">
6.7%
</td>
</tr>
<tr>
<td width="83">
<a href="/news">BIDWILL</a>
</td>
<td width="104">
$250,000
</td>
<td width="111">
$310
</td>
<td width="161">
6.4%
</td>
</tr>
<tr>
<td valign="bottom" width="83" nowrap>
<a href="/news">HEBERSHAM</a>
</td>
<td valign="bottom" width="104" nowrap>
$270,000
</td>
<td width="111">
$330
</td>
<td valign="bottom" width="161" nowrap>
6.4%
</td>
</tr>
<tr>
<td valign="bottom" width="83" nowrap>
<a href="/news">SHALVEY</a>
</td>
<td valign="bottom" width="104" nowrap>
$257,974
</td>
<td valign="bottom" width="111" nowrap>
$320
</td>
<td valign="bottom" width="161" nowrap>
6.3%
</td>
</tr>
<tr>
<td valign="bottom" width="83" nowrap>
<a href="/news">DHARRUK</a>
</td>
<td valign="bottom" width="104" nowrap>
$293,426
</td>
<td valign="bottom" width="111" nowrap>
$340
</td>
<td valign="bottom" width="161" nowrap>
6.2%
</td>
</tr>
</tbody></table>
Source: <a href="https://www.myrp.com.au/" target="_blank">RP Data</a>
</body></html>

The 10 suburbs with the highest house rental yields in Sydney: RP Data

<html><body>
Quest Serviced Apartments has opened its $11 million complex in Whyalla despite the backdrop of the mining boom slowdown.
Quest Whyalla will have 56 studio, one-bedroom, two-bedroom and three-bedroom self-contained apartments.
Quest chairman Paul Constantinou says the Whyalla opening comes as direct response to the region’s “tenacious” growth.
“Whyalla is thriving, fuelled by long-term development of the resource industry, which has, in turn, brought significant investment in local infrastructure.
"This growth is continuing to stimulate demand for functional and flexible corporate accommodation – a demand that we make it our business to respond to,” Constantinou says.
Franchisee Jennifer McDonnell says there has been an increasing demand for self-contained accommodation in Whyalla.
The 4.5-star property is one of eight new Quest Serviced Apartment properties opening in the 2012-13 financial year.
Quest, which is also set to open at Sydney Olympic Park next month, has 140 complexes across Australia, Fiji and New Zealand, spread across central business districts, suburban and regional areas with proximity to head offices, business centres and key tourist destinations.
Sydney Olympic Park complex is set amid offices and business parks. Elsewhere is NSW, there is also a site at Shellharbour judged to be set to benefit from the growth in Wollongong as well as the new Stockland development at Shellharbour.
In Melbourne Quest have targeted country regions such as Bendigo along with Docklands aimed at visitors who don't want to pay the high five-star-hotel prices.
To find out what the mining boom will mean for property investors and where the investment hotspots are likely to be, sign up for <a href="/news">Property Observer’s free webinar with hotspotting.com.au’s Terry Ryder on Tuesday, October 2 at 12.30pm</a>
 
<hr class="system-pagebreak">
 
Founded in 1988 by Paul Constantinou with one hotel in Fitzroy, the group offers apartments for short or longer stays, complete with kitchens and laundries.
Investors can buy strata units with building management run by franchisees, who must adhere to Quest management standards.
The Wyyalla town recently attracted attention after federal opposition leader Tony Abbott suggested the carbon tax would destroy the town, which triggered a comical response from Labor hovernment minister <a href="https://www.youtube.com/watch?v=L1pEt7bgY2U" target="_blank">Craig Emerson.</a>
Although BHP’s expansion plans are on hold, mining company Arrium has reopened its Iron Baron Mine, in a move that state Mineral Resources and Energy Minister Tom Koutsantonis says is a sign of the rejuvenation of South Australia.
Closed in the early 1990s, the mine near Whyalla was officially reopened on September 18 this year.
The reopening is due to create about 100 jobs and to support businesses in the area.
Arrium Mining chief executive Greg Waters says Iron Baron is just one part of its larger South Australian investment program, which includes its Middleback Ranges projects, Southern Iron operations near Coober Pedy, and its ongoing Whyalla port expansion.
The Federal Minister for Regional Australia, Simon Crean, South Australian Manufacturing and Trade Minister Tom Koutsantonis and president of the Local Government Association Kym McHugh recently signed an agreement to work together on promotion of the upper Spencer Gulf region to mining companies.
Whyalla is the leading South Australia area where it’s <a href="/news">cheaper to buy than rent</a>.
Rents in Whyalla had grown 10.7% to $310 per week in the five years to May 2012. Median rents are now at $350, according to RP Data.
To find out what the mining boom will mean for property investors and where the investment hotspots are likely to be, sign up for <a href="/news">Property Observer’s free webinar with hotspotting.com.au’s Terry Ryder on Tuesday, October 2 at 12.30pm</a>
</body></html>

Expansionary Quest triggers new $11 million Whyalla apartment complex

<html><body>
A Campbellfield brothel has passed in on a bid of $2.8 million today.
Owner Donna Murdoch had been hoping to sell the unique property for more than $3 million.
<img src="/images/stories/2012/09/brothel.jpg" width="470">
The Hot Spot strip club and 5 of Hearts brothel in Truck City Drive is being marketed by John Castran from John H Castran Pty Ltd.
<img src="/images/stories/2012/09/brothel3.jpg" width="470">
Castran was in the middle of negotiations when he spoke to Property Observer, and he expects to sell the property very soon.
True to his word, he invited dancing girls to the auction.
The bids came from two buyers.
<img src="/images/stories/2012/09/brothel2.jpg" width="470">
It opened at $2.6 million then the second bidder raised it to $2.7 million before the original bidder took it $2.8 million.
Interest came from an unnamed Melbourne group.
<img src="/images/stories/2012/09/brothel5.jpg" width="470">
The three-in-one venue includes a bar, a strip club and a brothel.
</body></html>

Campbellfield brothel fails to perform at auction and passed in at $2.8 million

<html><body>
Two spaces in Sydney’s Newtown development Flourmill Studios have been listed for sale with an eye towards buyers who have self-managed super funds.
<img src="/images/stories/2012/09/flourmill.jpg">
Rooms <a href="https://www.realestateview.com.au/Real-Estate/301-3-gladstone-street-newtown/Property-Details-buy-commercial-4310937" target="_blank">301 </a>and <a href="https://www.realestateview.com.au/Real-Estate/206-3-gladstone-street-newtown/Property-Details-buy-commercial-4310931" target="_blank">206 </a>at 3 Gladstone Street (pictured above) are being sold by Eric Lundberg from DB Property Surry Hills.
Both properties are currently leased and have a net yield of around 7%. Room 303 has an asking price of around $280,000, while 206 is asking $380,000.
The building was the winner of the Marrickville Council award for adaptive use of a heritage building.
The building is mainly tenanted or owner-occupied by creative industries. Room 206 is tenanted by a film editing company, and 303 is a talent agency.
Both leases are ending reasonably soon, which Lundberg says is beneficial for self-managed super fund buyers who could avoid paying GST on properties with an ongoing concern.
Lundberg sold all the current 47 stratas in the building, which was converted in 2007.
The building was originally called the Federal Flourmills and was designed by Sydney architects Nixon and Allen, according to the Baker and Confectioners’ Journal in 1907.
At its peak, the mill was a 24-hour operation milling three types of wheat.
The mill closed down in 1984 and was sold by Allied Mills Pty Ltd and converted to artists’ workshops.
Over the next 20 years the mill was occupied by painters, sculptors, musicians, stained glass makers, dancers and other creative types.
The adjacent silos were subdivided from the site in 2002 and converted to residential apartments.
The building was developed by Podcorp and designed by architects Allen Jack + Cottier.
The conversion preserved the original timber columns and beams, loading-bay doors, historic fire doors and the remnants of the drive shafts, wheels and belts that once powered the mill.
Lundberg says the yields on the studios are bolstered by strong capital growth given the scarcity of properties like these.
</body></html>

Two creative studios in inner-west Newtown listed with an eye to self-managed super fund buyers

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