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<a target="_blank" href="https://www.propertyobserver.com.au/victoria/record-seeking-brighton-offering-kinane-to-lose-half-its-tennis-court-as-825-square-metre-block-shaved-off-for-separate-sale/2012071555582"><img src="/images/stories/2012/07/4m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/victoria/record-seeking-brighton-offering-kinane-to-lose-half-its-tennis-court-as-825-square-metre-block-shaved-off-for-separate-sale/2012071555582">price hopes for an 825-square-metre parcel of land </a>that businessman Russell Small has shaved off of his record-seeking Brighton mansion Kinane to sell separately. The Kinane estate will lose its outdoor pool and half its tennis court. The entire estate had $20 million hopes on its August listing.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/palm-beach-trophy-home-kaluas-record-setting-price-revealed-at-%2422-million/2012071655601"><img src="/images/stories/2012/07/22m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/palm-beach-trophy-home-kaluas-record-setting-price-revealed-at-%2422-million/2012071655601">sale price of Kalua</a>, the Joye family’s plantation-style Palm Beach trophy home, which sold to retired Sydney car dealer Laurie Sutton. Sutton and his wife will be the 1920s beach bungalow’s third owner. It was last sold by the Hordern retailing family to the more entrepreneurial Joye family, the current vendors, for $330,000 in 1978.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/upwardly-mobile-waterloo-sydney-shows-impact-of-urban-regeneration/2012071655602"><img src="/images/stories/2012/07/167percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/upwardly-mobile-waterloo-sydney-shows-impact-of-urban-regeneration/2012071655602">amount that weekly household income rose</a> between 2001 and 2011 in the Sydney suburb of Waterloo. The suburb has shaken off a reputation for crime and its low socio-economic profile to become a sought-after location for inner-city apartment living. 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/australias-purported-housing-shortage-of-85000-dwellings-is-complete-fiction-philip-soos/2012071655590"><img src="/images/stories/2012/07/85k.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/australias-purported-housing-shortage-of-85000-dwellings-is-complete-fiction-philip-soos/2012071655590">deficit of dwellings in Australia</a>, according to a 2009 National Housing Supply Council report. Academic Philip Soos from Deakin University has rubished this figure, saying "the purported shortage of 85,000 dwellings was complete fiction". 
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/office/investor-pays-%243686-per-square-metre-for-whole-floor-in-fender-katsalidis-melbourne-office-block/2012071855629"><img src="/images/stories/2012/07/3686.gif"></a>
The price per square metre an investor has paid for a 434-square-metre whole office floor in a <a target="_blank" href="https://www.propertyobserver.com.au/office/investor-pays-%243686-per-square-metre-for-whole-floor-in-fender-katsalidis-melbourne-office-block/2012071855629">Fender Katsalidis-designed 14-level office building</a> on La Trobe Street in Melbourne's CBD. 
 
<hr>
<a href="https://www.propertyobserver.com.au/victoria/simone-callahan-sells-arthurs-seat-home-for-%2415-million/2012071755623" target="_blank"><img src="/images/stories/2012/07/1point5m.gif"></a>
The <a href="https://www.propertyobserver.com.au/victoria/simone-callahan-sells-arthurs-seat-home-for-%2415-million/2012071755623" target="_blank">sale price for Simone Callahan's four-bedroom Arthurs Seat home </a>with a tennis court and swimming pool, and guest quarters. Shane Warne's ex-wife had first put it on the market in March 2010 with a $2 million price tag. 
 
<hr>
 
<img src="/images/stories/2012/07/70.gif">
The number of storeys in Brookfield Residential's approved Sydney residential tower proposal for its Sydney Water Board site. It will also be the tallest residential tower in the Sydney skyline at 240 metres, beating off Meriton's 230-metre tall World Tower, which dates back to 2004.
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cknowlton-QnEa6ntUYP

The 7 must-know numbers of the week, starting with price hopes for piece of Brighton estate Kinane

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The advantages of starting your business from the comfort of your own home are clear – you keep your overheads to a minimum, you eliminate the daily commute and you can be flexible with your hours. 
But there a number of myths that surround home working. Many people can’t grasp that a serious business, rather than a hobby, can be built from your home. 
So, if you’re weighing up whether to launch your business from the spare bedroom or kitchen, here are 10 common misconceptions you must be aware of:
1. The hours are easy
<img src="/images/stories/2012/07/clocksus.jpg">
It’s tempting to think that running a home-based business involves a few hours on the computer in the morning, a nice leisurely lunch, maybe a phone call or two in the afternoon before an early finish. 
However, if your business is to be anything other than a mildly diverting sideline, you will have to put in the work. 
“When you’re by yourself, you do everything – bookkeeping, marketing, sales, the lot,” says Cas McCullough, who runs social enterprise <a target="_blank" href="https://mumatopia.com/" rel="nofollow">Mumatopia</a> and <a target="_blank" href="https://www.supportawahp.com/" rel="nofollow">Support a Work At Home Person</a> from her house. 
“All of this takes a lot of time and people underestimate this. They often take things on as a hobby and then find it is very popular and organically grows. They don’t think long term.” 
Set a strategy for your business early on, have an in-depth business plan. And consider outsourcing – it’ll save you time.
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
<hr class="system-pagebreak">
2. You can sit back and get rich quickly
<img src="/images/stories/2012/07/chairsus.jpg">
Despite what the endless ads tell you, there aren’t many jobs that will earn you big bucks just by staying at home making the odd phone call. 
“You look at the content behind those stupid Google ads about homeworking and it promises that you’ll be working for about seven minutes a day,” says McCullough. 
“You can be a success if you have the right business model but, if not, you’ll fall on your face.” 
“People who are pushed into home working because they lose their job or think they will get rich quick are more likely to fall over. They set up a Facebook page and wonder why no one has turned up.” 
“It’s better to start a business that you’re passionate about. You’re then more likely to be proactive and engage with people.”
 
<hr class="system-pagebreak">
3. You don’t need to spend money on day care
<img src="/images/stories/2012/07/daycaresus.jpg">
For busy parents, working from home may seem like the ideal solution – not only do you see more of your family but you also save money on day care for your children. 
Right? 
“You will occasionally, if not regularly, need a babysitter for your children,” says McCullough. “I have regular care once a week and sometimes my husband can help out, but you need the balance as you will need to go out for meetings.” 
“Also, your business commitments won’t keep to normal working hours, when your kids may be at school.”
 
<hr class="system-pagebreak">
4. It’s not a real job
<img src="/images/stories/2012/07/realsus.jpg">
Perhaps the most hurtful myth about home-based working is that it is somehow a lesser job. That it is a frivolous hobby for bored mothers, rather than a platform for fast-growth businesses, ignoring the fact that the likes of Google and Amazon started life as home-based start-ups. 
“A lot of people tell me that it’s not a real job and I can see the irritation that causes others who work from home,” says McCullough. 
“It has got a bit of a bad rap, but just look at the number of people who work from home. Look at what many of them go on to achieve. They are worthwhile businesses and they are contributing to the economy.”
 
<hr class="system-pagebreak">
5. All you’re doing is moving your job to your home
<img src="/images/stories/2012/07/jobhomesus.jpg">
 If you’re moving from a corporate career to working from home, it’s natural to think that you can just supplant your previous working life and routine into your new one. 
Jane Shelton, managing director of <a target="_blank" href="https://www.propertyobserver.com.au/https://marshallplace.com.au/node/41" rel="nofollow">Marshall Associates</a> and author of No Workplace Like Home, advises: “It's always nice to have a steady routine in a large corporation, where there are colleagues at hand to address the various competing demands of the clients and superiors, but when the only boss you have to blame is yourself, the rules of the game must change.” 
“Time schedules have to be modified to address your role in the value chain, the demands of business development, the schedules of family, friends and of course competitive suppliers of your products and services.” 
“A better way to respond to the time schedule and routine is to look at it as a question addressed by your business and marketing plans.” 
“You will find that the way that you go about the only real task of business – creating and corralling customers – relies on a systematic focus on staying within the decision-making cycle of your clients, customer and business communities of interest.”
 
<hr class="system-pagebreak">
6. You don’t have to worry about health and safety
<img src="/images/stories/2012/07/healthsafesus.jpg">
If you are wallowing in a messy, potentially dangerous home-based office, you risk more than being called a slob. 
Not only is your own health and safety important if you are to keep running your business, but any staff and clients will need to be protected too, as a recent case where Telstra had to pay medical and legal costs for an injured home worker highlighted. 
“Ensuring that your home is a safe workplace doesn’t happen by chance or guesswork,” Shelton says. 
“It requires a systematic approach to finding and fixing hazards and risks and any particular circumstances that apply to your home working base.” 
Shelton advises going through five key steps to get your OHS in good shape:
<ol>
<li>Finding hazards that could hurt the people who either live, work or visit your home.</li>
<li>Family forums that bring together all of these people on a regular basis to make sure that they are as safety conscious as you are and undertake the safety drills that are an essential part of hazard awareness.</li>
<li>Figuring out how the people in and around your home life could get hurt and working life hazards (the level of risk).</li>
<li>Fixing identified problems by sorting out and installing the most effective risk controls that are reasonably practicable under your circumstances.</li>
<li>Following through on your risk controls and checking that they are working to cope when things do not go according to plan.</li>
</ol>
 
<hr class="system-pagebreak">
 7. Your home life will remain exactly the same
<img src="/images/stories/2012/07/homelifesus.jpg">
Home is a nice place to relax and turn off after a long, hard day at work. Surely, if you spend all day there, you will be permanently in the comfort zone? Shelton has some words of warning. 
“Firstly, map your own interests and personal priorities and then set out how the start-up is going to help you achieve your objectives,” she says. 
“Be honest with yourself and answer these core questions: How will this venture change our way of life? What do I really like doing, and how will it shape my family's future?” 
“Who can support me while I get the business up and running? Where will all this take us and what will it cost to succeed?” 
“Then you need to set aside a fixed amount of time for your business homework, when the kids have done theirs and get partners and friends to share the burden of developing your start-up as an adjunct to your family life rather than an alternative to it.”
 
<hr class="system-pagebreak">
 8. Clients won’t take you seriously
<img src="/images/stories/2012/07/jestersus.jpg">
Many budding entrepreneurs fret about the impression left upon clients by their home office. 
Obviously, you don’t want to hold an important meeting with a key client while you are both wedged on the sofa, trying to ignore the child that is watching cartoons on the TV. 
But this doesn’t mean that it’s impossible to convey a professional demeanour to clients. 
If they have to come to your house, set aside a room for meetings and ensure there aren’t any interruptions. Better still, hold the meeting at a café or at a serviced office that you can rent out by the hour. 
There are other tricks to making your business appear bigger, such as adopting a 1800 telephone number, but, ultimately, your customers will primarily care about the products or service you provide them. You working from home shouldn’t be a factor.
 
<hr class="system-pagebreak">
 9. There’s no good financial reason, other than cutting overheads
<img src="/images/stories/2012/07/chestsus.jpg">
A common rationale for working from home is the money it will save you on office space, furniture and commuting. 
But don’t be fooled into thinking that there is little other financial reason to working from home other than the overheads you’ll save on. 
Australia’s tax code is fairly generous for entrepreneurs with home offices, with deductions offered for factors such as electricity, cleaning supplies, depreciation of office equipment, mortgage interest, rent, rates and insurance. 
Indeed, the Tax Office provides a “bonus deduction” of 50% for small businesses with qualifying assets.
 
<hr class="system-pagebreak">
 
10. Being at home all day is awesome
<img src="/images/stories/2012/07/paperworksus.jpg">
Office dwellers commonly think that working from home is an indulgent luxury that they’d give their right arm to experience. 
In reality, working from home by yourself for a long period can be quite taxing. Entrepreneurs often miss the collaboration and interaction that comes with working alongside colleagues. 
Shelton says: “You need a staged plan that lists the people who are your keys to success. This means that you identify business leaders, distributors and potential customers who you plan to meet and greet.” 
“By doing this you are proactively establishing what’s new and different and can overcome that sense of being cut off by your start-up activities.” 
“Pick up the phone, send them an email and invite their comment on what you are doing.”
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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The top 10 myths about running a business from home

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The number of days property is lingering on the market before sale is increasing in most capitals and was higher in June 2012 than two years ago across Australia, according to Australian Property Monitors.
In Sydney, Melbourne and Canberra the average days on market figure for residential property peaked in the traditionally slow month of January this year. It took Sydney vendors an average of 95 days to sell property in January, slightly more than the 88 days it took on average in June 2012 and well up on the 62 average in June 2010.
Melbourne vendors took an average of 103 days to sell property in January this year, more than 50 days it took on average in June 2010. The number of days on market had fallen slightly to 96 by June 2012.
The number of days on market peaked in Canberra in February this year at an average of 87 days, with vendors taking an average of 82 days to secure a buyer in June. 
In Brisbane and Hobart the number of days homes lingered on the market in June 2012 was the highest it had been for more than two years. The days on market figure in Perth in June 2012 was just one day short of its April 2012 peak of 137.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/apmjuly161.gif" title="Click to enlarge"><img src="/images/stories/2012/07/apmjuly161thumnb.gif"></a>
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Canberra still somewhat snappy, but days on market increasing in many capitals as property market cools: APM

Melbourne unit prices – how your suburb went in the 2012 June quarter: REIV

Melbourne house prices – how your suburb went in the 2012 June quarter: REIV

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Median prices rebounded in the June quarter assisted by limited top-end Melbourne house activity, but still remain 5.3% lower annually, according to the Real Estate Institute of Victoria.

Reversing a trend of the past year, top-end Melbourne house prices rebounded 6.7% in the June quarter, according to the REIV. 
Overall, Melbourne house prices rose 2.9% to a median of $535,000 in the June quarter, with the lowest-priced quartile rising 2.6%.
Median prices sit at 5.3% lower over the year.
In the year to March, <a href="https://www.propertyobserver.com.au/victoria/victorian-median-house-prices-and-quarterly-and-annual-changes-reiv/2012041354262" target="_blank">house prices fell furthest in more affluent suburbs</a>, but in the June quarter house prices in the priciest 5th percentile rose from a median price of $1,406,500 to a median of $1,500,250.
This trend was reversed for unit prices, with prices for the most expensive units (those in the 95th percentile) falling an average of 3.3%, from a median of $950,900 to $920,000.
The REIV chief Enzo Raimondo said that a combination of broader economic factors, slowing population growth and continuing low levels of consumer confidence had resulted in no real capital growth in the residential market over the past year. 
But the REIV chief Enzo Raimondo noted while the overall median price had fallen 5.3% over the past 12 months the overall median had not changed in the past six months.
“Both buyers and sellers are approaching the market in a conservative manner. This is translating into a lower number of sales than is present in a strong market and as a result, no real price growth has been recorded.
“The real estate market moves in cycles and, after the initial price falls in 2011, it is now in a period of stability marked by low activity.
Raimondo noted the median price had fallen 5.3% over the past 12 months but the overall median had not changed in the past six months.
The affluent suburb of East Melbourne had Melbourne's greatest increase in unit prices during the June 2012 quarter, according to the Real Estate Institute of Victoria and Toorak had the highest house price growth.
But agents caution that it's not likely that the approximnate 50% hikes in their median represented an actual shift in prices, but rather the predominance of pricey sales within the fewer than 30 actual sales.
It more likely reflected the dominence of a particular pricey market segment or even new development amid limited sales activity, rather than a dramatic price shift.
in the median represented an actual shift in prices, but rather the predominance of pricey unit sales within the fewer than 30 actual sales. The same goes with significant downwards shifts, which again reflect the dominence of a particular market segment amid limited sales activity, rather than a dramatic price shift.
Regional dwelling prices slid in the June quarter. At the same time last year <a href="https://www.propertyobserver.com.au/victoria/victorian-regional-centres-outperforming-melbourne-reiv/2011072550898" target="_blank">regional Victorian suburbs outperformed their Melbourne peers</a>, but after a <a href="https://www.propertyobserver.com.au/victoria/regional-victorian-property-prices-going-nowhere/2012042654439" target="_blank">flat March quarter</a> regional house and unit prices fell in the June quarter. 
Regional Victorian house prices fell an average of 1.6% in the June quarter, with unit prices faring even worse, with a 4.5% fall. 
Melbourne 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="73" nowrap valign="top">
House Prices
</td>
<td width="77" valign="top">
Jun-12 Q
</td>
<td width="62" valign="top">
% chg to last q
</td>
<td width="84" valign="top">
Mar-12 Q
</td>
<td width="50" valign="top">
% chg to q last year
</td>
<td width="84" valign="top">
Jun-11 Q
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Lower Quartile
</td>
<td width="77" nowrap valign="top">
$400,000
</td>
<td width="62" nowrap valign="top">
2.6%
</td>
<td width="84" nowrap valign="top">
$390,051
</td>
<td width="50" nowrap valign="top">
-3.6%
</td>
<td width="84" nowrap valign="top">
$415,000
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Median
</td>
<td width="77" nowrap valign="top">
$535,000
</td>
<td width="62" nowrap valign="top">
2.9%
</td>
<td width="84" nowrap valign="top">
$520,000
</td>
<td width="50" nowrap valign="top">
-5.3%
</td>
<td width="84" nowrap valign="top">
$565,050
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Upper Quartile
</td>
<td width="77" nowrap valign="top">
$750,000
</td>
<td width="62" nowrap valign="top">
2.7%
</td>
<td width="84" nowrap valign="top">
$730,000
</td>
<td width="50" nowrap valign="top">
-6.1%
</td>
<td width="84" nowrap valign="top">
$798,750
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
85th Percentile
</td>
<td width="77" nowrap valign="top">
$940,000
</td>
<td width="62" nowrap valign="top">
5.0%
</td>
<td width="84" nowrap valign="top">
$895,000
</td>
<td width="50" nowrap valign="top">
-4.2%
</td>
<td width="84" nowrap valign="top">
$981,650
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
95th Percentile
</td>
<td width="77" nowrap valign="top">
$1,500,250
</td>
<td width="62" nowrap valign="top">
6.7%
</td>
<td width="84" nowrap valign="top">
$1,406,500
</td>
<td width="50" nowrap valign="top">
-0.7%
</td>
<td width="84" nowrap valign="top">
$1,510,000
</td>
</tr>
</tbody></table>
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="75">
Unit Prices
</td>
<td valign="top" width="79">
Jun-12 Q
</td>
<td valign="top" width="74">
% chg to last q
</td>
<td valign="top" width="81">
Mar-12 Q
</td>
<td valign="top" width="59">
% chg to q last year
</td>
<td valign="top" width="81">
Jun-11 Q
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Lower Quartile
</td>
<td valign="top" nowrap width="79">
$357,500
</td>
<td valign="top" nowrap width="74">
2.1%
</td>
<td valign="top" nowrap width="81">
$350,000
</td>
<td valign="top" nowrap width="59">
-2.1%
</td>
<td valign="top" nowrap width="81">
$365,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Median
</td>
<td valign="top" nowrap width="79">
$450,000
</td>
<td valign="top" nowrap width="74">
1.9%
</td>
<td valign="top" nowrap width="81">
$441,500
</td>
<td valign="top" nowrap width="59">
-4.1%
</td>
<td valign="top" nowrap width="81">
$469,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Upper Quartile
</td>
<td valign="top" nowrap width="79">
$580,000
</td>
<td valign="top" nowrap width="74">
-1.5%
</td>
<td valign="top" nowrap width="81">
$589,000
</td>
<td valign="top" nowrap width="59">
-4.9%
</td>
<td valign="top" nowrap width="81">
$610,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
85th Percentile
</td>
<td valign="top" nowrap width="79">
$680,000
</td>
<td valign="top" nowrap width="74">
-1.1%
</td>
<td valign="top" nowrap width="81">
$687,350
</td>
<td valign="top" nowrap width="59">
-4.9%
</td>
<td valign="top" nowrap width="81">
$715,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
95th Percentile
</td>
<td valign="top" nowrap width="79">
$920,000
</td>
<td valign="top" nowrap width="74">
-3.3%
</td>
<td valign="top" nowrap width="81">
$950,900
</td>
<td valign="top" nowrap width="59">
-7.1%
</td>
<td valign="top" nowrap width="81">
$990,000
</td>
</tr>
</tbody></table>
 
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
Regional Victoria
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="64" nowrap valign="top">
House Prices
</td>
<td width="76" valign="top">
Jun-12 Q
</td>
<td width="44" valign="top">
% chg to last q
</td>
<td width="76" valign="top">
Mar-12 Q
</td>
<td width="70" valign="top">
% chg to q  last year
</td>
<td width="79" valign="top">
Jun-11 Q
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Lower Quartile
</td>
<td width="76" nowrap valign="top">
$231,000
</td>
<td width="44" nowrap valign="top">
 
</td>
<td width="76" nowrap valign="top">
 
</td>
<td width="70" nowrap valign="top">
 
</td>
<td width="79" nowrap valign="top">
 
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Median
</td>
<td width="76" nowrap valign="top">
$305,000
</td>
<td width="44" nowrap valign="top">
-1.6%
</td>
<td width="76" nowrap valign="top">
$310,000
</td>
<td width="70" nowrap valign="top">
-4.7%
</td>
<td width="79" nowrap valign="top">
$320,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Upper Quartile
</td>
<td width="76" nowrap valign="top">
$402,750
</td>
<td width="44" nowrap valign="top">
 
</td>
<td width="76" nowrap valign="top">
 
</td>
<td width="70" nowrap valign="top">
 
</td>
<td width="79" nowrap valign="top">
 
</td>
</tr>
</tbody></table>
 
  Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="67">
Unit Prices
</td>
<td valign="top" width="91">
Jun-12 Q
</td>
<td valign="top" width="72">
% chg to last q
</td>
<td valign="top" width="77">
Mar-12 Q
</td>
<td valign="top" width="80">
% chg to last year
</td>
<td valign="top" width="70">
Jun-11 Q
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Lower Quartile
</td>
<td valign="top" nowrap width="91">
$200,000
</td>
<td valign="top" nowrap width="72">
 
</td>
<td valign="top" nowrap width="77">
 
</td>
<td valign="top" nowrap width="80">
 
</td>
<td valign="top" nowrap width="70">
 
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Median
</td>
<td valign="top" nowrap width="91">
$247,250
</td>
<td valign="top" nowrap width="72">
-4.5%
</td>
<td valign="top" nowrap width="77">
$259,000
</td>
<td valign="top" nowrap width="80">
-1.1%
</td>
<td valign="top" nowrap width="70">
$250,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Upper Quartile
</td>
<td valign="top" nowrap width="91">
$289,000
</td>
<td valign="top" nowrap width="72">
 
</td>
<td valign="top" nowrap width="77">
 
</td>
<td valign="top" nowrap width="80">
 
</td>
<td valign="top" nowrap width="70">
 
</td>
</tr>
</tbody></table>
 
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
 
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Surprise Melbourne median house price rebound - 2.9% in June quarter, with biggest growth in the top end: REIV

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13 Caird Place, Seven Hills, NSW 2147
<img src="/images/stories/2012/07/caird.jpg">
An extra-large six-bedroom house in a quiet cul-de-sac could appeal to investors, as its current tenants pay $550 per week. It is within walking distance of Seven Hills North Public and Seven Hills High School and also close to the train station, M2 and M7. The tenants are on an expired lease but are keen to stay on. It also includes a two-car garage and a pergola and barbecue area.
John Law Property agent Jay Chaudhary<a href="https://www.realestate.com.au/property-house-nsw-seven+hills-110761767" target="_blank"> is marketing the property</a> with price hopes of $350,000 plus, and if it sells for that price that would secure an investor a remarkable gross rental yield of 8.2% at its current rent, well above the gross rental yield for Seven Hills houses of 5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Seven Hills fell 1.7% in the past year but rose 21.4% in the past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $7,000 and over five years to be $21,000.
The property will go to auction Saturday, July 14 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Seven Hills, see the RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see pages 2 and 3.
<hr>
4/808 Humffray Street, Mount Pleasant, Vic 3350
<img width="470" src="/images/stories/2012/07/humffray.jpg">
In a boutique block of four, this two-bedroom villa unit in the Ballarat suburb of Mount Pleasant has been recently re-carpeted and repainted. It is currently tenanted until September for below-market rent, but listing agent Simon Lee of Ray White says it could be expected to fetch $195 per week. Lee says the tenants would be willing to move out before September. The property is close to public transport.
Lee<a href="https://www.raywhite.com/vic/mount-pleasant/803871/" target="_blank"> is marketing the property</a> with price hopes of $180,000 plus, and if it sells for $180,000 and is let at $195 per week, that would secure an investor a gross rental yield of 5.6%, above the indicative gross rental yield of 5.2% for Mount Pleasant houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Mount Pleasant rose 2% in the past year and 47.1% in tha past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The property will be open for inspection Saturday, July 14 at noon and will go to auction Saturday, July 21 at 1pm.
For more about prices and yields in <a target="_blank" href="/news">Mount Pleasant, see the RP Data suburb page.</a>
 
<hr class="system-pagebreak">
13b Nullaburra Road, Newport, NSW 2106
<img src="/images/stories/2012/07/nullaburra.jpg" width="470">
This four-bedroom duplex on 550 square metres of land is currently tenanted at $860 per week, and the rent is set to go up to $900 per week in the next few months. The current tenants are on a six-month lease that is due to expire around the end of the year. There are ocean glimpses from the second level, and the property includes a double garage and a low-maintenance backyard. Domain Residential agent Dushan Prica describes the property in its marketing as "a great investment opportunity for those heading towards the stock market exits!".<a href="https://www.raywhite.com/vic/mount-pleasant/803871/" target="_blank"></a>
Dushan Prica<a target="_blank" href="https://www.raywhite.com/vic/mount-pleasant/803871/"> is marketing the property</a> with price hopes of $949,000 plus, and if it sells for $949,000 that would secure an investor a gross rental yield of 4.7% at its current rent, above the indicative gross rental yield of 3.8% for Newport houses, according to RP Data. It would secure a gross rental yield of 4.96% at $900 per week. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Newport fell 3.2% in the past year but rose 7% in tha past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $15,000 and over five years to be $48,000.
The property will be open for inspection Saturday, July 14 at noon and will go to auction Saturday, July 21 at 1pm.
For more about prices and yields in Newport, see the RP Data suburb page.
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Friday form guide: Yields of up to 8.2% in Seven Hills

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<img src="/images/stories/2012/07/85percent.gif">
The percentage of loans by collapsed fund management and mortgage lender Provident Capital that were six months or more in arrears.
 
<hr>
<a href="https://www.propertyobserver.com.au/developments/barangaroo-south-construction-set-to-begin-as-lend-lease-raises-%242-billion/2012070955478" target="_blank"><img src="/images/stories/2012/07/2b.gif"></a>
The <a href="https://www.propertyobserver.com.au/developments/barangaroo-south-construction-set-to-begin-as-lend-lease-raises-%242-billion/2012070955478" target="_blank">amount of money developer Lend Lease has raised towards the Barangaroo South redevelopment</a>. The funding forms part of a new commercial wholesale open-ended property trust, which Lend Lease will manage. “Now all we have to do is build it,” says Lend Lease CEO Steve McCann.
 
<hr>
<a href="https://www.propertyobserver.com.au/residential/oversupply-figures-paint-distorted-housing-picture-of-outer-melbourne-suburb-of-clyde-amid-melbournes-55000-listings/2012070955476" target="_blank"><img src="/images/stories/2012/07/316percent.gif"></a>
The<a href="https://www.propertyobserver.com.au/residential/oversupply-figures-paint-distorted-housing-picture-of-outer-melbourne-suburb-of-clyde-amid-melbournes-55000-listings/2012070955476" target="_blank"> increase in the number of residential listings in postcode 3978 </a>(Clyde, Clyde North and Cardinia) in the year to June, according to figures compiled by SQM Research. However, Clyde is not the epicentre of a so-called oversupply of houses in the city’s outer suburbs, but instead the result of new housing projects coming to market at the same time in what was farmland just two years ago.
 
<hr>
<img src="/images/stories/2012/07/995.gif">
The asking rent for Katrina and Amie's The Block 2011 renovated Richmond cottage, which hit the rental market this week. Its asking rental reflects around 4.7% rental growth over the past year.
 
<hr>
<a target="_blank" href="/news"><img src="/images/stories/2012/07/25m.gif"></a>
The <a target="_blank" href="/news">approximate price hopes for the site for a proposed sister skyscraper to the post-modern Eureka Tower</a>, which was listed for sale. The proposed 226-metre, 72-storey tower is designed by Nonda Katsalidis, and the 2,642-square-metre site at 70 Southbank Boulevard is directly across the road from the Eureka Tower.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/parliaments-youngest-federal-mp-wyatt-roy-now-a-22-year-old-home-owner-as-on-the-beach-bribie-island-prices-fall/2012071055509"><img src="/images/stories/2012/07/340k.gif"></a>
The amount <a target="_blank" href="https://www.propertyobserver.com.au/queensland/parliaments-youngest-federal-mp-wyatt-roy-now-a-22-year-old-home-owner-as-on-the-beach-bribie-island-prices-fall/2012071055509">Federal Parliament's youngest MP, Wyatt Roy, spent on his first home</a>, which he recently bought. The 22-year-old MP bought a unit in a Bribie Island, Queensland, complex where prices have been falling for the past eight years.
 
<hr>
<a target="_blank" href="/news"><img src="/images/stories/2012/07/120k.gif"></a>
The <a target="_blank" href="/news">asking price for an ivy-clad streetfront 18-square-metre Point Piper lock-up garage </a>in Sydney’s eastern suburbs. There are no body corporate fees or rates for the garage given it does not come with its own title. 
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The 7 must-know numbers of the week, starting with the percentage of Provident Capitals loans in arrears

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The percentage of first-home buyers purchasing off-the-plan units has increased since March this year, according to NAB's Residential Property Survey.
At the same time, the percentage of non-first-home owner-occupiers buying off the plan has decreased.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/nabjuly125.gif"><img src="/images/stories/2012/07/nabjuly125thumb.gif"></a>
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More first-home buyers purchasing new properties: NAB June Residential Property Survey

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An imitation Gothic castle in Paradise Point that sold for $5,325,000 at auction was this week’s top reported sale, according to RP Data.
With seven bedrooms and nine bathrooms, <a href="https://www.propertyobserver.com.au/queensland/imitation-gothic-castle-on-sovereign-islands-loses-its-crown-at-auction-as-buyers-have-less-kingly-inclinations/2012070455420">the Paradise Point property</a> had a $20 million tag when it first listed in 2010.
It was finished in 2009 on a 1,458-square-metre block bought for $3.75 million in 2007.
This week’s second place spot was taken by a five-bedroom house in the Sydney suburb of Burwood, which sold for $3.02 million at its Saturday auction.
{yoogallery src=[images/stories/2012/07/july11burwood]}
This was $520,000 above the reserve, according to Richard Matthews Agent Matthew Everingham.
The 2,340-square-metre property includes three bathrooms, leadlight detail, high ceilings and a tennis court.
No Victorian properties made the top 10 list this week, with seven of the top 10 in NSW and the rest in Queensland. 
1. <a href="https://www.myrp.com.au/n/55-knightsbridge-parade-west-paradise-point-qld-4216/myrp-490?propertyId=6753124">55 Knightsbridge Parade West, Paradise Point, QLD, 4216</a>, seven-bedroom house, sold at auction on June 3 by Ray White The Runaway Bay Group for $5.325,000
2. <a href="https://www.myrp.com.au/n/8-minna-street-burwood-nsw-2134/myrp-490?propertyId=1653802">8 Minna Street, Burwood, NSW, 2134</a>, five-bedroom house, sold at auction on June 7 by Richard Matthews Real Estate for $3.02 million
3. <a href="https://www.myrp.com.au/n/66-evans-street-rozelle-nsw-2039/myrp-490?propertyId=5982687">66 Evans Street, Rozelle, NSW, 2039</a>, five-bedroom house, sold at auction on June 7 by Belle Property Annandale for $2.4 million
4. <a href="https://www.myrp.com.au/n/58-milroy-avenue-kensington-nsw-2033/myrp-490?propertyId=3291870">58 Milroy Avenue, Kensington, NSW, 4670</a>, six-bedroom house, sold after auction on June 7 by Ray White Maroubra for $1.92 million
5. <a href="https://www.myrp.com.au/n/47-phillip-road-putney-nsw-2112/myrp-490?propertyId=5635153">47 Phillip Road, Putney, NSW, 2112</a>, four-bedroom house, sold at auction on June 7 by McGrath Estate Agents for $1.91 million
6. 90 Little Chester Street, Newstead, QLD, 2360, three-bedroom house, sold at auction on June 7 by Ray White New Farm for $1.9 million
7. <a href="https://www.myrp.com.au/n/32-heeley-street-paddington-nsw-2021/myrp-490?propertyId=5268768">32 Heeley Street, Paddington, NSW, 2021</a>, four-bedroom house, sold at auction on June 3 by Bradfield Cleary Real Estate for $1.84 million
8. <a href="https://www.myrp.com.au/n/20-radio-avenue-balgowlah-heights-nsw-2093/myrp-490?propertyId=1231236">20 Radio Avenue, Balgowlah Heights, NSW, 2093</a>, four-bedroom house, sold on June 6 by Richardson &amp; Wrench Seaforth for $1.805 million
9. <a href="https://www.myrp.com.au/n/16-snowbell-close-stretton-qld-4116/myrp-490?propertyId=14183033">16 Snowbell Close, Stretton, QLD, 4116</a>, five-bedroom house, sold at auction on June 7 by L J Hooker Sunnybank Hills for $1.8 million
10. <a href="https://www.myrp.com.au/n/18-darvall-road-eastwood-nsw-2122/myrp-490?propertyId=2206597">18 Darvall Road, Eastwood, NSW, 2122</a>, five-bedroom house, sold at auction on June 7 by McGrath Estate Agents for $1.75 million
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Paradise Point castle takes out top sale of the week, with five-bedroom Burwood property next at $3.02 million: RP Data

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

Joel Robinson

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

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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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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Cassidy Knowlton

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