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It takes an average of 231 days to sell a house in Riverheads, which tops the list of the slowest-selling localities in Queensland, according to RP Data. There were eight localities where houses were on the market for 200 days or more before they sold. Property Observer notes that there were only 13 sales in Riverheads last year, according to RP Data.
<table border="0" cellspacing="0" cellpadding="0" width="350"><tbody>
<tr>
<td width="86">
Locality
</td>
<td width="263">
Average number of days on market
</td>
</tr>
<tr>
<td>
Riverheads
</td>
<td width="263">
231
</td>
</tr>
<tr>
<td>
Holmview
</td>
<td width="263">
229
</td>
</tr>
<tr>
<td>
Goombungee
</td>
<td width="263">
214
</td>
</tr>
<tr>
<td>
Peachester
</td>
<td width="263">
213
</td>
</tr>
<tr>
<td>
Kooralbyn
</td>
<td width="263">
210
</td>
</tr>
<tr>
<td>
Flaxton
</td>
<td width="263">
205
</td>
</tr>
<tr>
<td>
Wandoan
</td>
<td width="263">
201
</td>
</tr>
<tr>
<td>
Babinda
</td>
<td width="263">
200
</td>
</tr>
<tr>
<td>
Gilston
</td>
<td width="263">
197
</td>
</tr>
<tr>
<td>
Mapleton
</td>
<td width="263">
197
</td>
</tr>
</tbody></table>
 
Source: RP Data
 
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awalsh-7Ub9EypybQ

Riverheads tops list of slowest-selling localities in Queensland: RP Data

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The total land value of Boorowa region in NSW decreased 3.5% from 2008 to 2011, according to NSW Valuer-General Philip Western.
The combined value of the 1,957 properties in Boorowa dropped to $403 million in July 2011, down from $417 million in 2008.
Western found residential land generally had a slight increase in value, bolstered by increased interest from Canberra over the three years.
Commercial land values had a generally moderate increase in value, including smaller lots along Marsden Street.
Rural land values experienced a slight decrease, with mixed farming properties generally suffering a bigger fall.
Hobby farms had an overall slight decrease in land values, while the more remote areas of Taylors Flat, Reids Flat and Wyangala had a moderate decrease.
Year-on-year median rural land prices in Boorowa decreased 3.5% from $148,000 between 2010 and 2011.
Village land value in Boorowa increased slightly over the three years.
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>1,155 square metres at Campbell Street, Boorowa valued at $46,200</li>
<li>2,023 square metres at Marsden Street, Boorowa valued at $43,700 </li>
<li>1,024 square metres at Marsden Street, Boorowa valued at $27,500 </li>
<li>835 square metres at Pudman Street, Boorowa valued at $50,600</li>
</ul>
Typical commercial land values were:
<ul>
<li>866 square metres at Marsden Street, Boorowa valued at $15,700 </li>
<li>980 square metres at Pudman Street, Boorowa valued at $35,600 </li>
<li>1,024 square metres at Marsden Street, Boorowa valued at $27,500</li>
</ul>
Typical rural land values were:
<ul>
<li>404 hectares at Riverside Road, Mount Collins valued at $770,000 </li>
<li>457 hectares at Battery Road, Mount Collins valued at $525,000 </li>
<li>498 hectares at Kenyu Road, Boorowa valued at $502,000 </li>
<li>262 hectares at Rugby Road, Boorowa valued at $666,000 </li>
<li>291 hectares at Frogmore Road, Wyangala valued at $450,000 </li>
<li>204 hectares at Rye Park Road, Rye Park valued at $525,000 </li>
<li>362 hectares at Little Plains Road, Rye Park valued at $410,000 </li>
<li>319 hectares at Rossi Road, Godfreys Creek valued at $670,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>8.1 hectares at Boorowa valued at $102,000 </li>
<li>5,786 square metres at Parnell Street, Boorowa valued at $63,000</li>
</ul>
Typical hobby farm land values were:
<ul>
<li>36.3 hectares at Ironbark Lane, Frogmore valued at $75,000 </li>
<li>58.2 hectares at Grassy Creek Road, Rye Park valued at $120,000 </li>
<li>41 hectares at Old Wheeo Road, Taylors Flat valued at $99,900 </li>
<li>56.7 hectares at Rye Park valued at $114,000 </li>
<li>42.9 hectares at Frogmore Road, Hovells Creek valued at $99,800</li>
</ul>
Typical village land values were:
<ul>
<li>2,023 square matres at Britannia Street, Reids Flat valued at $7,300</li>
<li>3,884 square metres at Kershaw Street, Rye Park values at $24,200</li>
</ul>
 
 
<ul></ul>
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Land values fell 3.5% in NSW region of Boorowa in past three years: Valuer- General

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Houses in East Carnarvon spent an average of just 15 days on the market before being sold. This is less than half as long as the next quickest suburb in WA, Lynwood at 36 days. However, there were only 13 sales in East Carnarvon last year. 
<table width="303" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="141">
Suburb
</td>
<td valign="top" width="162">
No. of days on market
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">East Carnarvon</a>
</td>
<td valign="top" width="162">
15
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Lynwood</a>
</td>
<td valign="top" width="162">
36
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Tuart Hill</a>
</td>
<td valign="top" width="162">
39
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Craigie</a>
</td>
<td valign="top" width="162">
42
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Heathridge</a>
</td>
<td valign="top" width="162">
45
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Beckenham</a>
</td>
<td valign="top" width="162">
47
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Kingsley</a>
</td>
<td valign="top" width="162">
47
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Coolbellup</a>
</td>
<td valign="top" width="162">
49
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Leederville</a>
</td>
<td valign="top" width="162">
49
</td>
</tr>
<tr>
<td valign="top" width="141">
<a target="_blank" href="/news">Coolgardie</a>
</td>
<td valign="top" width="162">
50
</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 target="_blank" href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/"> clicking here</a>.
 
 
 
 
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East Carnarvon heads the top 10 fastest-selling localities in Western Australia: RP Data

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More than one-fifth of Australians scrapped plans to buy a home this year following interest rate rises by the big four banks last month and buyer confidence remains low, according to a survey by Real Estate View.
The Appetite to Buy Survey found buyers remain cautious, with just 32% of Australians now looking to buy a home this year, down from 43% in 2011.
Despite 22% of respondents reporting cancelled plans due to bank rate rises, 65% of respondents were not encouraged to buy following the November and December interest rate cuts.
More than 40% of respondents expected further interest rate rises would keep buyers out of the market this year.
The survey also found more than half of consumers are now considering borrowing from or refinancing with smaller lenders after banks raised their rates independently of the RBA in February.
There are more factors than interest rate rises affecting consumer confidence, says Real Estate View general manager Petra Sprekos.
“Our survey shows that while interest rates are a key concern for buyers, there are other factors such as household expenses and job security influencing their ability to purchase,” says Sprekos.
“Consequently, we’re finding most are adopting a ‘wait and see’ approach. We definitely don’t see this changing anytime soon, especially if the big four break ranks with the RBA again and raise mortgage rates this month.”
Australians are being more conservative with their money, with a rising trend for consumers to hoard money. One-fifth of respondents had saved a deposit of more than 40%, while one-quarter had saved a deposit between 11% to 20%.
Almost 80% of respondents say they would prefer to buy a house over a townhouse, apartment or unit.
“Three-bedroom homes remain the clear front-runner for buyers (44%), followed by two-bedroom properties (27%) and four-bedroom houses (27%),” the survey found.
There was also a rise in people looking to buy properties worth more than $1 million. The figure is up significantly from 2011, rising from 1% to 4%.
“[This suggests] buyers are keen to capitalise on cooling prices at the top end of the market.”
The number of people looking to buy properties worth $400,000 to $600,000 remain stable at 34%, up slightly from 31% in 2011, “indicating competition will stay strong in this market segment”.
For advice about refinancing your mortgage, <a href="http://propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage" target="_blank">download our free eBook.</a>
{module What do you intend to do given the current interest rate fluctuations?}
 
 
 
 
 
 
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Recent bank rate rises cause one-fifth of Aussies to cancel home buying plans: Survey

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After 150 years of ownership by the same family, a 322-hectare Hunter Valley property is up for sale.
Rockview has been run by five generations of the Deasy family.
It’s now the largest grazing property in the Pokolbin area.
It’s the first time the Deasys Road land has been marketed since Jeremiah Deasy hopped off a boat from Ireland and took ownership of the property in the days of selection in the 1860s.
In subsequent years the property was used as a fruit bottling company called Lighting, which was run from the back sheds of the property by indentured, orphaned labourers. The remnants of this bottling plant still remain.
At one point a school was built on the property.
The bodies of children who died at the property over the years are buried in the property in an area called The Cultivation.
The property is a cattle grazing property but given its location in the Hunter Valley it does come with a vineyard.
In a grove of fig trees sits the original timber homestead, which is currently used as a weekend getaway for the Malouf and Quinn families – descendants of the Deasy family.
The well-grassed rolling hills of Rockview are only interrupted by a patch of eucalyptus trees.
The farm is equipped with cattle yards and water from a number of dams. An allocation is available from the Lower Hunter Wine Country Private Irrigation district.
The property is being marketed to investors and developers with council approval to subdivide into eight 40-hectare lots.
The property’s zoning allows for resorts, wineries and restaurants.
Agent Alan Jurd from Jurd's Real Estate Cessnock has hopes of more than $5 million, with expressions of interest due April.
 
 
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Hunter Valley farm Rockview for sale after 150 years in one family

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The total land value of Ballina Shire decreased 1% from 2008 to 2011, according to the latest report by NSW Valuer-General Philip Western.
Western found the total land value of the shire was $5.44 billion in July 2011, down from his 2008 valuation of $5.496 billion
In that time residential land values generally had a slight decrease, although some waterfront properties and properties with good water views showed slight to moderate decreases in land value.
M<a href=""></a>uch of decline was from 2010 to 2011, with the median residential land price decreasing 3.5% from $236,000 to $228,000.
Commercial land values in Ballina decreased slightly over the three years, while secondary commercial and commercial properties fronting the highway experienced moderate decreases in land value.
Year-on-year the median commercial land value decreased 5% from $472,000 to $448,000.
Industrial land values decreased slightly, with the exception of industrial land in Alstonville, which had a slight increase in value.
From 2010 to 2011 overall the mean industrial land price increased 1% from $350,000 to $354,000.
Rural land values had a slight increase, though some areas in the western part of Ballina experienced a slight decrease.
Rural residential and hobby farm land values generally increased slightly, with the rise more significant in the northern part of the municipality due to the influence of Byron Bay.
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.
The median rural land price increased 1% from $347,000 in 2010 to $350,000 in 2011.
Typical residential land values were:
<ul>
<li>672 square metres at Crane Street, Ballina valued at $285,000 </li>
<li>735 square metres at Tea Tree Place, East Ballina valued at $227,000 </li>
<li>953 square metres at Amber Drive, Lennox Head valued at $396,000 </li>
<li>765 square metres at Ashland Street, Alstonville valued at $190,000.</li>
<li>Typical commercial land values were: </li>
<li>1,092 square metres at River Street, Ballina valued at $490,000 </li>
<li>303 square metres at River Street, Ballina valued at $390,000</li>
</ul>
Typical industrial land values were:
<ul>
<li>1,498 square metres at Southern Cross Drive, Ballina valued at $448,000 </li>
<li>1,078 square metres at Northcott Crescent, Alstonville valued at $182,000.</li>
</ul>
Typical rural land values were:
<ul>
<li>24.9 hectares at Bagotville Road, Bagotville valued at $445,000 </li>
<li>33.3 hectares at Meaneys Lane, East Wardell valued at $385,000.</li>
</ul>
Typical rural residential land values were:
<ul>
<li>4,140 square metres at Hillcrest Drive, Tintenbar valued at $395,000 </li>
<li>4,326 square metres at Teven Road, Teven valued at $266,000 </li>
<li>5,539 square metres at Wenga Drive, Alstonvale valued at $281,000.</li>
</ul>
Typical hobby farm land value was:
<ul>
<li>14.6 hectares at Fernleigh Road, Fernleigh valued at $550,000</li>
</ul>
 
 
<ul></ul>
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Waterfront land losing value in Ballina

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The total land value of Leichhardt municipality increased 30% from 2008 to 2011, according to NSW Valuer-General Philip Western.
He found the total land value increased from $10.891 billion in 2008 to $14.177 billion in July 2011.
Residential land values generally increased strongly, while properties on main roads had just moderate increases in value and waterfront property generally remained steady or had slight decreases in value.
From 2010 to 2011, the median residential land price in Leichhardt increased 8.5% from $563,000 to $611,000.
Western found commercial land values in most main centres in Leichhardt had moderate to strong increases, with the exception of commercial land on Parramatta Road and Marion Street, which generally showed just a slight increase.
Year-on-year, the median commercial land price in Leichhardt increased 5% from $572,000 in 2010 to $603,000 in 2011.
Small industrial sites and industrial land on Parramatta Road had slight increases in value over the three years, while the value of medium-sized industrial sites and industrial sites larger than 4,000 square metres remained steady.
From 2010 to 2011, the median industrial land price increased 7% from $486,000 to $520,000.
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>793 square metres at Allen Street, Leichhardt valued at $1,800,000 </li>
<li>196 square metres at Annesley Street, Leichhardt valued at $546,000 </li>
<li>209 square metres at Llewellyn Street, Balmain valued at $721,000 </li>
<li>271 square metres at Louisa Road, Birchgrove valued at $2,510,000 </li>
<li>210 square metres at Marion Street, Leichhardt valued at $430,000 </li>
<li>183 square metres at Norman Street, Rozelle valued at $615,000 </li>
<li>183 square metres at Young Street, Annandale valued at $565,000</li>
</ul>
Typical commercial land values were:
<ul>
<li>164 square metres at Darling Street, Balmain valued at $900,000 </li>
<li>190 square metres at Darling Street, Rozelle valued at $719,000 </li>
<li>247 square metres at Marion Street, Leichhardt valued at $525,000 </li>
<li>164 square metres at Norton Street, Leichhardt valued at $667,000 </li>
<li>158 square metres at Parramatta Road, Leichhardt valued at $299,000</li>
</ul>
Typical industrial land values were:
<ul>
<li>7,143 square metres at Allen Street, Leichhardt valued at $3,750,000 </li>
<li>414 square metres at Moore Street, Leichhardt valued at $520,000</li>
<li>669 square metres at Parramatta Road, Leichhardt valued at $859,000 </li>
<li>1,745 square metres at George Street, Leichhardt valued at $1,520,000</li>
</ul>
 
 
 
 
<ul></ul>
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Leichhardt land values up 30% in three years

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The total land value of the 55,907 properties in Shoalhaven was put at $13.512 billion for July 2011 by NSW Valuer-General Philip Western.
The figure was down 3.3% from $13.977 billion in 2008.
Western says land values generally remained steady over the three years.
Year on year median business land values decreased 0.5% from $302,000 in 2010.
Median industrial land prices decreased 5% from $260,000 in 2010.
Median residential land values increased 1.3% from $150,000 in 2010.
Median rural prices also increased, up 1% from $297,000 in 2010.
Landowners and rate-paying-lessees received a notice of valuation earlier this month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>1,334 square metres at Addison Road, Culburra Beach valued at $239,000</li>
<li>1,008 square metres at Admiralty Crescent, Huskisson valued at $1,390,000</li>
<li>740 square metres at Albert Street, Berry valued at $281,000</li>
<li>816 square metres at Government Road, Sussex Inlet valued at $135,000</li>
<li>1,012 square metres at Karowa Street, Bomaderry valued at $118,000</li>
<li>544 square metres at Knapp Avenue, Nowra valued at $80,000</li>
<li>683 square metres at Martin Avenue, Ulladulla valued at $182,000</li>
<li>930 square metres at Quay Road, Callala Beach valued at $1,000,000 </li>
</ul>
Typical commercial land values were:
<ul>
<li>821 square metres at Boree Street, Ulladulla valued at $391,000</li>
<li>468 square metres at Island Point Road, St Georges Basin valued at $150,000</li>
<li>462 square metres at Kinghorne Street, Nowra valued at $450,000</li>
<li>190 square metres at Owen Street, Huskisson valued at $670,000</li>
<li>251 square metres at Queen Street, Berry valued at $517,000</li>
<li>645 square metres at Weston Street, Culburra Beach valued at $160,000 </li>
</ul>
Typical industrial land values were:
<ul>
<li>4,330 square metres at Aroo Road, Ulladulla valued at $284,000</li>
<li>2,077 square metres at Concorde Way, Bomaderry valued at $160,000</li>
<li>4,936 square metres at Cumberland Avenue, South Nowra valued at $288,000</li>
<li>2,100 square metres at Erina Road, Huskisson valued at $181,000 </li>
</ul>
Typical rural land values were:
<ul>
<li>70.2 hectares at Bundewallah Road, Bundewallah valued at $1,250,000</li>
<li>40 hectares at Croobyar Road, Croobyar valued at $760,000</li>
<li>40.7 hectares at Princes Highway, Broughton valued at $1,290,000</li>
<li>55.2 hectares at Mount Scanzi Road, Kangaroo Valley valued at $1,060,000</li>
<li>42.8 hectares at Turpentine Road, Tomerong valued at $508,000</li>
<li>58.6 hectares at Jack Reid Road, Termeil valued at $500,000 </li>
</ul>
Typical rural residential land values were:
<ul>
<li>2.7 hectares at Culburra Road, Wollumboola valued at $390,000</li>
<li>2 hectares at McArthur Drive, Falls Creek valued at $246,000</li>
<li>2 hectares at Pointer Road, Yatte Yattah valued at $327,000</li>
<li>1 hectare at Scotts Road, Upper Kangaroo River valued at $412,000</li>
<li>2 hectares at Stringybark Road, Nowra Hill valued at $293,000</li>
<li>1 hectare at Beach Road, Berry valued at $500,000 </li>
</ul>
Typical hobby farm land values were:
<ul>
<li>10 hectares at Coolangatta Road, Coolangatta valued at $701,000</li>
<li>27.6 hectares at Devitts Lane, Meroo Meadow valued at $782,000</li>
<li>16.2 hectares at Jacks Corner Road, Kangaroo Valley valued at $574,000</li>
<li>16.2 hectares at Princes Highway, Termeil valued at $418,000</li>
<li>16.2 hectares at Bayly Road, Tomerong valued at $399,000 </li>
</ul>
Typical village land values were:
<ul>
<li>911 square metres at Cullen Crescent, Kangaroo Valley valued at $226,000</li>
<li>607 square metres at Cyrus Street, Hyams Beach valued at $1,000,000</li>
<li>613 square metres at Edwin Avenue, Lake Conjola valued at $799,000</li>
<li>607 square metres at Surf Tide Avenue, Bawley Point valued at $270,000</li>
<li>699 square metres at Torquay Drive, Lake Tabourie valued at $140,000</li>
<li>2,390 square metres at Bellfield Place, Tomerong valued at $174,000</li>
</ul>
 
 
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Shoalhaven land values down 3.3% in three years

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Melburnians will be protesting tomorrow against the slated demolition of the 1928-built Scots Church Hall and associated buildings on the corner of Collins Street and Russell Street.
Melbourne Heritage Action will march against the approved development by Scots Church Properties Trust, arguing that planning authorities have ignored regulations in approving the project.
Spokesperson for Melbourne Heritage Action Rupert Mann says approval should never have been given to demolish the building.
“It’s supposed to have the highest level of heritage protection in Australia. Despite that, it’s being left as a wafer thin façade of one wall,” he says.
In 2007 then planning minister Justin Madden ignored Heritage Victoria recommendations and issued permits for the destruction of Scots Church Hall, the former Victorian car park and a former showroom.
Heritage Victoria opposed the demolition of the car park because of its historical and cultural significance – it was the first multi-level car park in Melbourne.
“That it was pushed through by Justin Madden is appalling. How can the peak heritage body of this state be overridden by one man?” Mann says
In 2006 trustees of the church signed a 99-year lease agreement with Grocon and APN Property Group to develop the site.
Grocon, in partnership with APN, plans to build a $220 million, 12-storey office block on the site, with <a target="_blank" href="https://www.propertyobserver.com.au/office/westpac-takes-paris-end-of-collins-leaves-docklands-to-other-banks/2011092251651">Westpac as the anchor tenants</a> in the Peddle Thorp-designed building.
The current plans incorporate just nine metres of the car park building.
Mann says it’s a poorly designed project that will detract from the character of the area.
“It’s a highly disrespectful incursion – they’ve made no attempt to preserve the heritage of the buildings. The whole streetscape will be destroyed,” he says.
“You begin to lose what makes Melbourne a great city. Life here is centred about these small-scale heritage precincts.”
Mann hopes to pressure APN into redesigning the project to further incorporate the older buildings.
In Victoria, any applications for a project in excess 25,000 square metres is automatically referred to the state planning minister and skips the council decision.
Mann says this is another point of contention that he hopes to raise with the protest.
“We want that threshold raised way up to 60,000, 70,000, even 80,000. We believe the City of Melbourne should have much more of a say on what goes on in Melbourne’s CBD.”
APN was unavailable for comment.
 
 
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Heritage group to protest against demolition of Scots Church Hall in Melbourne CBD

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David Hyde Pierce, better known as Dr Niles Crane from Frasier, has listed his 1929-built Los Angeles mansion for US$7.5 million.
The Emmy Award winner and his sitcom writer-producer husband Brian Hargrove originally paid US$3.625 million for the property in 2003.
The gated seven-bedroom home, originally built for transportation industry executive O.R. Fuller, was heavily restored by in 2004 with all renovations incorporating the 1920s design.
The Spanish Colonial Revival home opens through a huge rotunda entrance with Mexican paver tiles into the “gracious” living room replete with a baronial fireplace which leads into the banquet sized formal dining room with a hand stencilled wood ceiling and French doors that open to city views.
On the main floor is a butler’s pantry, an elongated octagonal breakfast room with wood beamed ceiling and an enormous kitchen with intricate roof tiling.
The original grand staircase remains intact, sweeping up with a wrought iron balustrade. It leads up to the library with floor to ceiling bookshelves, three bedrooms and marble bathrooms.
Pierce enjoyed a healthy lifestyle here with the lower level including a large private gym, a sauna, a lengthy pool and an outdoor spa.
The 760 square metre home has eight bathrooms and comes with a wine vault and a cozy home theatre perfect for watching Frasier reruns.
The property also includes a separate guest house on the 3700 square metre block of land.
The couple might be poised to move to New York City where they own a penthouse apartment they bought in 2005 for US$2.5 million. After buying that they spent US$772,000 in 2006 on a 3.5 room apartment on the floor below.
They recently bought an ocean front house in Amagansett  for US$6.3 million in 2010.
 
 
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David Hyde Pierce of Frasier fame lists in LA

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."

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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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Alistair Walsh

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