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Offshore investors remain keen on the Australian hotel market even as domestic institutional investors continue their exodus from the sector, according to Colliers research.
Singapore’s Ascendas entered the Australian market for the first time, but local companies Commonwealth Property and Mirvac are selling off their hotel assets.
“Strong demand from overseas investors is expected to continue in 2012, despite the strong Australian dollar,” says Colliers director of research Nora Farren.
“Offshore investors still see value in Australian assets and view the market, particularly those assets with exposure to business travellers, as safe, long-term investments.”
The hotel sector gave the greatest return of all commercial assets for 2011, showing a return of 17.8%. Office, retail and industrial assets all showed returns of around 10%.
The strong returns were driven by a lack of new supply and a rising corporate travel market.
CBD hotels enjoyed strong capital returns of 9.3% during 2011 driven by increasing occupancies and room rates.
Of the $1 billion of sales identified by Colliers, the biggest transaction was the $310 million sale of the Mirvac hotel portfolio to an Asian consortium.
There were $1.25 billion of hotel sales in 2010.
The Mirvac acquisition includes Mirvac Hotels and Resorts, a management company of 48 hotels (including two owned hotels) representing 6,100 rooms as well as a stake in the Mirvac Wholesale Hotel Fund, which owns seven of the hotel assets.
The Perth hotel market is likely to continue to outperform other domestic locations in the near-term, buoyed the strongest growth in revenue per available room (RevPAR) at 18% and healthy investment and construction activity.
Australia’s average RevPar growth was 5%, with Adelaide and Gold Coast both recording decreases.
Across Australia, the average room rate increased by 4.8%, with Perth up 9%.
“Asian buyers are showing a keen interest in the Perth market, seeking exposure to the city as it benefits from the mining boom,” writes Farren.
“Construction activity in the Perth hotel sector is expected to gather pace, with a hotel to be included in the Perth Waterfront project, and the expansion of the Crown Perth casino to potentially include a five-star hotel and entertainment complex.”
The number of Chinese visitors arriving each year is increasing 12%, according to the ABS, and they will contribute one-third of the growth in Australia’s tourism export earnings until 2020, says Colliers. In 2011 there were 60% more overseas trips by Australians than five years previous.
 
 
 
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Offshore investors see potential in Australian hotels as local companies exit sector: Colliers

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The total land value of the City of Canterbury increased 22% from 2008 to 2011, according the NSW Valuer-General Philip Western.
The land value of the 33,188 properties in the city was found to be $16.093 billion in July 2011, up from $13.104 billion in 2008.
Residential land values in the area showed a strong increase over the three years, Western found.
Year-on-year median residential land prices increased 5% to $403,000 in 2011 from $385,000 in 2010.
Commercial land values generally increased moderately, with larger-than-average increases for commercial land on prime retail strips such as Beamish Street and those with mixed-use development potential.
From 2010 to 2011, commercial land prices increased 4% to $368,000 from $354,000.
Industrial land values in Canterbury remained steady of the three years and had a 0.5% increase from 2010 to 2011.
Landowners and rate-paying-lessees received a notice of valuation this month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>481 square metres at Adelaide Street, Belmore valued at $375,000 </li>
<li>441 square metres at Amy Street, Campsie valued at $430,000 </li>
<li>563 square metres at Beauchamp Street, Wiley Park valued at $310,000 </li>
<li>780 square metres at Collingwood Avenue, Earlwood valued at $760,000 </li>
<li>500 square metres at Karne Street, Roselands valued at $335,000 </li>
<li>427 square metres at Merrick Avenue, Lakemba valued at $325,000</li>
</ul>
Typical commercial land values were:
<ul>
<li>233 square metres at Beamish Street, Campsie valued at $1,300,000 </li>
<li>259 square metres at Burwood Road, Belmore valued at $360,000 </li>
<li>511 square metres at Clissold Parade, Campsie valued at $580,000 </li>
<li>304 square metres at Haldon Street, Lakemba valued at $550,000 </li>
<li>259 square metres at Homer Street, Earlwood valued at $475,000 </li>
<li>234 square metres at The Boulevarde , Punchbowl valued at $380,000</li>
</ul>
Typical industrial land values were:
<ul>
<li>6,088 square metres at Garema Circuit, Kingsgrove valued at $2,050,000 </li>
<li>1,500 square metres at Garema Circuit, Kingsgrove valued at $830,000 </li>
<li>626 square metres at Leedham Place, Riverwood valued at $455,000</li>
</ul>
 
 
<ul></ul>
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Canterbury land values increased 22% in past three years: NSW Valuer-General

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The total land value of the Richmond Valley municipality was $1.856 billion in July 2011, up 6% from 2008, according to NSW Valuer-General Philip Western.
In 2008 the 10,106 properties in the area were worth $1.749 billion.
Western’s report showed residential land values generally had a moderate increase in value over the three years, while residential land in the towns of Broadwater, Evans Head, Coraki and Woodburn had just a slight increase in value.
Year-on-year the median residential land value increased 2% from $99,000 in 2010 to $101,000 in 2011.
Prime commercial land in the town of Casino generally experienced a slight increase in value, while fringe commercial land generally had a moderate increase in value. Commercial land in Coraki, Woodburn and Broadwater had slight increases in land value.
From 2010 to 2011 the median commercial land value increased 4% from $111,000 to $115,000.
Industrial land values in Casino had a moderate increase in value, while coastal industrial land in Evans Head experienced moderate to strong increases in value.
<img src="/images/stories/richmondvalleymap.png">
Industrial land values in the area increased 3%, from $168,000 in 2010 to $173,000 in 2011.
Rural residential land and hobby farms increased slightly in value over three years, with the exception of rural-residential land closer to the coast but west of the highway, which decreased slightly in value.
Rural land values remained steady over the three years despite falling 3.5% from $171,000 in 2010 to $165,000 in 2011.
Landowners and rate-paying lessees received a notice of valuation last month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>858 square metres at Fergusson Street, Casino valued at $84,000 </li>
<li>1,161 square metres at Lakeside Drive, Casino valued at $130,000 </li>
<li>832 square metres at McAuliffe Street, Casino valued at $96,100 </li>
<li>790 square metres at Booyong Street, Evans Head valued at $260,000 </li>
<li>717 square metres at Ocean Drive, South Evans Head valued at $400,000 </li>
<li>1,011 square metres at Richmond Street, Woodburn valued at $120,000 </li>
<li>685 square metres at Thomas Crescent, Coraki valued at $87,500</li>
</ul>
Typical commercial land values were:
<ul>
<li>500 square metres at Barker Street, Casino valued at $93,600 </li>
<li>651 square metres at Centre Street, Casino valued at $115,000</li>
</ul>
Typical industrial land values were:
<ul>
<li>1,125 square metres at Sir Valston Hancock Drive, Evans Head valued at $200,000 </li>
<li>2,116 square metres at Cassino Drive, Casino valued at $117,000</li>
</ul>
Typical rural land values were:
<ul>
<li>70.2 hectares at Bruxner Highway, Woodview valued at $300,000 </li>
<li>73.4 hectares at Mongogarie Road, Leeville valued at $400,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>2 hectares at Sextonville Road, Casino valued at $134,000 </li>
<li>5,000 square metres at Hereford Drive, North Casino valued at $128,000 </li>
<li>1.4 hectares at Casuarina Drive, Swan Bay valued at $165,000</li>
</ul>
Typical hobby farm land value was:
<ul>
<li>17.8 hectares at Avenue Road, Myrtle Creek valued at $130,000</li>
</ul>
 
 
 
<ul></ul>
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Richmond Valley land values up 6% in three years: NSW Valuer-General

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A 400-hectare sheep and crop farm in NSW that has been in the same family since about the 1860s has been put up for sale for the first time.
The Corowa district property has been in the Brown family since selection.
The only remaining members of the family are two nephews who live in Melbourne and have no interest in continuing the farm. 
Full knowledge of the history of the purchase of the Buraja property was lost with the death of Arthur Brown in September 2011.
Rosemount comes with an old four-bedroom weatherboard house and all the requisite infrastructure for farming, including a three-stand woolshed, steel sheep yards, cattle yards, machinery sheds and silos.
Though not the original, the house has been around for a long time. Arthur Brown was born in the house and lived there until he died in his 80s.
The house has been renovated during its life and comes with an electric kitchen, a formal lounge and a meals area.
Behind the house are the remnants of the original homestead, including a workers’ quarters and the old kitchen and bathroom.
The 11-paddock property can run 1,000 ewes and is also used for cereal and oilseed crops.
The Brown family used to run a blacksmith forge on site, the remnants of which still remain. This was used to forge and maintain equipment and look after working horses.
The land is being sold in one block, though there is the chance it may be split up into three lots.
If buyers are quick they also can bid on a collection of antiques associated with the property including a full blacksmith ensemble, old wagons, a piano and beds, all from the 1800s.
The land is 15 kilometres north of Corowa and 60 kilometres north west of Albury/Wodonga.
Agent Reg Coulston from Elders Albury has price hopes of about $1.4 million for its March 30 auction.
 
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Corowa farm up for sale for the first time since 1860s

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The total land value of the 2,475 properties in Harden was $535 million according to NSW Valuer-General Philip Western.
The figure slipped 0.5% from the 2008 valuation of $538 million.
Residential land prices in the twin towns of Murrumburrah-Harden had a moderate decrease.
This decrease includes a median residential price drop of 5% from 2010’s figure $25,700.
Commercial land prices also experienced a moderate decrease over the three years but from 2010 to 2011 business land prices remained constant.
Industrial land in the area had a slight decrease since the last valuation although prices remained constant from 2010 to 2011.
Rural and hobby farm land prices in Harden Shire remained generally steady over the three years, although hobby farms towards the southern part of the shire had a moderate increase in value, while larger hobby farms towards the north and west of the  shire experienced a slight decrease.
<img src="/images/stories/hardenmap.gif">
Year on year, rural land prices in Harden increased 5% from $177,000 in 2010.
Village land values generally remained steady except for a slight increase in Galonga and a strong increase in Wombat.
Landowners and rate-paying-lessees received a notice of valuation this month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>1,012 square square metres at Binalong Street, Harden valued at $22,600 </li>
<li>1,897 square square metres at Ward Street, Harden valued at $32,400 </li>
<li>1.993 hectares at Doolan Road, Harden valued at $67,500</li>
</ul>
Typical commercial land value was:
<ul>
<li>550 square metres at Neill Street, Harden valued at $17,700</li>
</ul>
Typical industrial land values were:
<ul>
<li>2,023 square metres at Vernon Street, Murrumburrah valued at $28,500 </li>
<li>7,653 square metres at Jack Ward Drive, Harden valued at $17,700</li>
</ul>
Typical rural land values were:
<ul>
<li>529 hectares at Bogolara Road, Berremangra valued at $582,000 </li>
<li>211 hectares at Fairview Road, Galong valued at $644,000 </li>
<li>242 hectares at Cullinga Mines Road, Harden valued at $663,000 </li>
<li>157 hectares at Back Demondrille Road, Murrumburrah valued at $576,000 </li>
<li>303 hectares at Jugiong Road, Harden valued at $670,000 </li>
<li>224 hectares at Moppity Road, Young valued at $680,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>6.8 hectares at Hume Highway, Jugiong valued at $38,100 </li>
<li>2 hectares at East Street, Harden valued at $80,000 </li>
<li>2 hectares at Barwang Road, Harden valued at $55,000 </li>
<li>8.4 hectares at Race Creek Road, Wombat valued at $96,800</li>
</ul>
Typical hobby farm land values were:
<ul>
<li>40.1 hectares at Jugiong Road, Harden valued at $194,000 </li>
<li>49.4 hectares at Ellerslie Road, Wombat valued at $260,000</li>
<li>25.5 hectares at Currawong Road, Murrumburrah valued at $208,000 </li>
<li>63.4 hectares at Kalangan Road, Galong valued at $200,000 </li>
<li>14.4 hectares at Cunningar Road, Galong valued at $50,000</li>
</ul>
Typical village land values were:
<ul>
<li>1,100 square metres at High Street, Galong valued at $16,500 </li>
<li>2 hectares at Stapylton Street, Jugiong valued at $38,400 </li>
<li>1,366 square metres at Parkes Street, Jugiong valued at $17,200 </li>
<li>1,265 square metres at Rose Street, Wombat valued at $23,300</li>
</ul>
 
 
<ul></ul>
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Land values flat in NSW region of Harden in past three years: NSW Valuer-General

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The 2,031 properties in the NSW region of Hay had a total land value of $151 million in July 2011, according to NSW Valuer-General Philip Western.
The figure was down 4% from $157 million in 2008.
Residential land values experienced a slight decrease over the three years.
Rural land values also experienced a slight decrease over the three years while year-on-year median prices decreased 3.5% from a median of $64,200 in 2010.
<img src="/images/stories/haymap.gif">
Western found rural residential land in the Hay Irrigation Area and village land in Maude and Booligal had a generally strong decrease in price.
Commercial land also experienced a slight decrease over the three years.
Industrial land values increased slightly from 2008 levels.
Hay landowners and rate-paying lessees received a notice of valuation this month.
The valuations are used by councils to determine rates and taxes for investment property purchases.
Typical residential land values were:
<ul>
<li>2,023 square metres at Lang Street, Hay valued at $29,800 </li>
<li>928 square metres at Meakes Street, Hay valued at $20,600</li>
</ul>
Typical commercial land value was:
<ul>
<li>799 square metres at Lachlan Street, Hay valued at $36,400 </li>
</ul>
Typical industrial land value was:
<ul>
<li>1,447 square metres at Murray Street, Hay valued at $30,000</li>
</ul>
Typical rural land values were:
<ul>
<li>237 hectares at Murrumbidgee River Road, Hay valued at $88,200 </li>
<li>4,079 hectares at Alma Road, Booligal valued at $264,000 </li>
<li>1,621 hectares at Toopuntul Road, Maude valued at $119,000</li>
</ul>
Typical hobby farm land value was:
<ul>
<li>12.8 hectares at University Road, Hay South valued at $68,400</li>
</ul>
Typical village land values were:
<ul>
<li>1,518 square metres at Hay Street, Booligal valued at $2,470 </li>
<li>2,023 square metres at Waratah Street, Maude valued at $3,980</li>
</ul>
 
 
 
<ul></ul>
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Land values drop 4% in NSW region of Hay in three years: Valuer-General

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Rosslea has the fastest-selling houses in Queensland, with houses taking an average of just 27 days to sell, according to RP Data. It just edged ahead of Mornington and Pallarenda. Property Observer notes there were just 12 sales over the last year in Rosslea.
<table width="331" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td width="91">
Locality
</td>
<td width="240">
Average number of days on market
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Rosslea</a>
</td>
<td width="240">
27
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Mornington</a>
</td>
<td width="240">
28
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Pallarenda</a>
</td>
<td width="240">
28
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Millmerran</a>
</td>
<td width="240">
31
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Sun Valley</a>
</td>
<td width="240">
41
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">The Gap</a>
</td>
<td width="240">
42
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Basin Pocket</a>
</td>
<td width="240">
45
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Dysart</a>
</td>
<td width="240">
46
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">North Booval</a>
</td>
<td width="240">
46
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Spring Hill</a>
</td>
<td width="240">
46
</td>
</tr>
</tbody></table>
 
Source: RP Data
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Rosslea leads fastest-selling localities in Queensland: RP Data

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Mt Barker tops the list of WA's slowest-selling localities, with houses taking an average of 231 days to sell, according to RP Data. It takes more than 200 days to sell houses in five WA localities. Property Observer notes  there were just 13 sales in Mt Barker last year.
 
<table width="341" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="114">
Locality
</td>
<td valign="top" width="227">
Average number of days on market
</td>
</tr>
<tr>
<td valign="top" width="114">
Mt Barker
</td>
<td valign="top" width="227">
231
</td>
</tr>
<tr>
<td valign="top" width="114">
Highgate
</td>
<td valign="top" width="227">
228
</td>
</tr>
<tr>
<td valign="top" width="114">
Herne Hill
</td>
<td valign="top" width="227">
225
</td>
</tr>
<tr>
<td valign="top" width="114">
San Remo
</td>
<td valign="top" width="227">
217
</td>
</tr>
<tr>
<td valign="top" width="114">
Augusta
</td>
<td valign="top" width="227">
216
</td>
</tr>
<tr>
<td valign="top" width="114">
York
</td>
<td valign="top" width="227">
194
</td>
</tr>
<tr>
<td valign="top" width="114">
Oakford
</td>
<td valign="top" width="227">
187
</td>
</tr>
<tr>
<td valign="top" width="114">
Broome
</td>
<td valign="top" width="227">
186
</td>
</tr>
<tr>
<td valign="top" width="114">
Burns Beach
</td>
<td valign="top" width="227">
186
</td>
</tr>
<tr>
<td valign="top" width="114">
East Perth
</td>
<td valign="top" width="227">
178
</td>
</tr>
</tbody></table>
 
Source: RP Data
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by <a href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/" target="_blank" style="font-size: 14px; text-align: left;">clicking here</a>.
 
 
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Mt Barker properties take longest to sell in WA: RP Data

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American housing prices continued to fall in January, slipping 3.1% on a year-over-year basis. This was their sixth consecutive monthly decline, according to CoreLogic’s latest report.
When the report excluded distressed sales, it found prices fell just 0.9% year-on-year.
Illinois, Nevada, Delaware, Alabama and Georgia were hardest hit by the declines, each falling 7.5% or more over the year, including distressed sales.
Since peak values in 2006, prices in Nevada have fallen the most out of the states surveyed, down 60.1%.
Nationally prices are down 34% from peak values in April 2006, including distressed sales and down 24% excluding distressed sales.
Of the 100 most populated areas surveyed, 71 had year-over-year declines in January, eight fewer than in December.
Including distressed sales, the five states that had the greatest year-on-year increase in prices in January were South Dakota, North Dakota, West Virginia, Montana and Michigan. Prices increased 3% or more in all five.
CoreLogic’s chief economist says housing prices are not far from 2002 levels.
 
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US house prices fell for sixth straight month in January: CoreLogic

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The total land price of the 2,587 properties in Gundagai in July 2011 decreased 3% from 2008, while rural land prices dropped 12% in a year, according to NSW Valuer-General Philip Western.
Western found the total land price was $505 million, down from $515 million 2010.
Residential land values decreased slightly over the three years, although large residential lots on the western fringe of Gundagai fronting Punch Street experienced a strong increase.
From 2010 to 2011, the median residential land price increased 1% from $40,000.
Gundagai ‘s commercial strip fronting Sheridan Street had a moderate increase in value over the three years including a 4% increase from 2010 to 2011.
<img src="/images/stories/gundagaimap.gif">
Broad acre farming and grazing property land prices the shire generally remained stable while forest land values and forest lease had a moderate decrease.
Western found rural residential and hobby farm land prices remained steady or had a slight increase, while the value of land in the villages of Coolac, Muttama and Nangus experienced a slight to moderate decrease due to the limited demand for these more remote villages.
From 2010 to 2011 rural land prices fell 12%.
Landowners and rate-paying-lessees received a notice of valuation this month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>974 square metres at Hanley Lane, Gundagai valued at $32,800</li>
<li>2,023 square metres at Luke Street, Gundagai valued at $48,700</li>
</ul>
Typical commercial land value was:
<ul>
<li>1,132 square metres at Sheridan Street, Gundagai valued at $34,300</li>
</ul>
Typical rural land values were:
<ul>
<li>282 hectares at Bethungra Road, Nangus valued at $486,000 </li>
<li>125 hectares at Bethungra Road, Nangus valued at $384,000 </li>
<li>154 hectares at Tarrabandra Road, South Gundagai valued at $550,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>1,315 square metres at Adelong Road, Tumblong valued at $12,700 </li>
<li>4.1 hectares at Burra Road, Gundagai valued at $88,400.</li>
</ul>
Typical hobby farm land value was:
<ul>
<li>21.7 hectares at Nangus Road, Nangus valued at $128,000</li>
</ul>
Typical village land values were:
<ul>
<li>4,097 square metres at Mount Street, Coolac valued at $14,400 </li>
<li>5,562 square metres at Nea Street, Muttama valued at $11,200 </li>
<li>2,428 square metres at Nangus Road, Nangus valued at $16,500</li>
</ul>
 
 
 
 
 
<ul></ul>
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Land values fell 3% in NSW region of Gundagai in three years, led by sharp decrease in rural land prices

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

Joel Robinson

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

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

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

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

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

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

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

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