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There was a patchy result for auction tipping competition Property Tycoon auctions this week, as three out of five properties sold in both Melbourne and Sydney.
For those who want to have a harmless punt, there's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
The result at 64 Rosedale Road, Glen Iris (pictured below), shows the inner-eastern Melbourne market is well supported, as three bidders contested the auction.
<img src="/images/stories/2012/06/rosedale.jpg">
After being quoted at $1 million to $1.1 million by James Redfern at Marshall White, the property was announced on the market at $1.15 million before selling under the hammer for $1,226,000. This price was almost $100,000 more than the average tip.
It was a different story for 56 Bland Street, Ashfield (pictured below), in Sydney’s inner west, where it sold for $100,000 below the average tip.
<img src="/images/stories/2012/06/bland.jpg">
Agent Tony Andreacchio from Raine and Horne was spot on when he quoted 56 Bland Street, Ashfield, at $1.35 million to $1.45 million, as the property sold on Saturday for $1.42 million.
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cknowlton-QnEa6ntUYP

Patchy result for property auction tipping competition

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Another day, another report on our growing housing supply crisis.

Today the COAG Reform Council, headed by Paul McClintock, released its <a target="_blank" href="https://www.coagreformcouncil.gov.au/reports/housing.cfm">third annual report</a> on performance against COAG's 2009 National Affordable Housing Agreement, covering 2010-11.

The report's conclusions are disheartening. It finds that rental affordability got worse between 2007 and 2010: more than 40% of low-income households are now in "rental stress" (defined as rent higher than 30% of gross household income), up from 37% in 2007. Some 60% of people in the lowest 10% of incomes face rental stress, up from just under 50%. And the problem is worst in NSW, which has been identified in other reports by the <a target="_blank" href="https://www.crikey.com.au/2011/12/22/national-housing-supply-council-report/">National Housing Supply Council</a> and from <a target="_blank" href="https://www.crikey.com.au/2012/06/22/census-reveals-the-consequences-of-a-national-housing-myopia/">the census</a> as the worst state for housing supply.

The Reform Council's report also concluded that housing had become less affordable through the period, though primarily as a consequence of interest rate rises. The problem was particularly acute in capital cities, and Queensland was the worst state for affordable housing for low-income earners. But the overall level of mortgage stress for low income households remained the same over the period.

The report also concluded that the gap between the level of housing supply and demand had more than doubled to nearly 187,000 since 2008. The numbers are a little more conservative than the most recent National Housing Supply Council <a target="_blank" href="https://www.nhsc.org.au/content/publications/housing_supply_affordability/exec_summary">update</a>, which revised its estimates of the dwelling gap to 200,000 in 2010. Both reports agree, however, the NSW was the worst state, with a dwelling gap of about 73,000-74,000, but Queensland was getting worse.

The COAG report is separate from the process initiated in April 2010 -- Kevin Rudd's last COAG meeting -- where COAG agreed <a target="_blank" href="https://www.coag.gov.au/coag_meeting_outcomes/2010-04-19/docs/Communique_20_April_2010.pdf">"a housing supply and affordability reform agenda"</a> with a tight timeframe for a comprehensive series of reports and reviews examining housing supply and government policies that acted as impediments to the delivery of more housing stock. All of the activity associated with the agenda was scheduled to be completed by the end of 2010, except for one project that was given until mid-2011.

Since then the agenda has disappeared without trace, as if it was all a figment of Rudd's imagination. According to the National Housing Supply Council, from the time COAG announced the agenda to the end of 2011, the dwelling gap blew out by another 28,000 to 228,000.

The COAG report noted that it was having difficulty reporting on the relevant partnerships between state and Commonwealth governments that contribute to the housing agreement, because it "cannot link the activity reported to the outcomes and objectives in the National Agreement. Reports on national partnerships generally provide information on activity without evidence of the effect the activity has on outcomes ... We cannot clearly mark progress against commitments or analyse them comparatively."

That is, the states are good at saying what they're doing but not so good at saying whether they're meeting outcomes or making progress in a way that enables the council to compare across states.

We're thus left with only a limited number of indicators, and chiefly that ever-growing dwelling gap, to illustrate government failure.

As the history of the COAG housing agenda shows, this was briefly a priority for federal Labor, but the Gillard government appears to have lost interest in it. Low-income earners across Australia will continue to suffer the consequences.
This article originally appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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Housing affordability fell between 2006 and 2010: COAG

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A new business model for wine is turning customers into angel investors, encouraging them to invest in a $1.5 million trust fund designed to help independent winemakers crack the market.
Naked Wines, which launches in Australia on July 1, was founded in the United Kingdom in 2008 by Rowan Gormley, former chief executive of Virgin Wines and Virgin Money.
Over the next year, Naked Wines will invest $1.5 million in Australian vineyards. The company aims to help fund up to 20 independent winemakers looking for their big break.
Consumers with a penchant for wine are encouraged to invest in these winemakers as “angels”, and, in return, enjoy discounts of up to 50% on premium wines.
Angels pay a monthly subscription towards Naked Wines, which goes towards improving the service, but are able to redeem their monthly fee for a reduced rate on any purchases.
By doing this, Naked Wines says it “counters the creative stifling that the extreme consolidation at the retail end of market has generated”.
Angels also have the opportunity to meet the winemakers.
“[I have] witnessed the growth and dominance of the big supermarket chains, their increase in private label brands and the boom in discount distressed stock suppliers,” Naked Wines Australia managing director Luke Jecks says.
“I knew winemakers were getting fewer opportunities and customers were getting fewer choices. The Australian wine industry needed a rapid change.”
“I turned to my good friend and entrepreneur, Rowan Gormley, who was already successfully leading the way with change and success in the UK, and fell in love with the Naked Wines model.”
“I’m so excited to be bringing it to Australia to ensure our talented winemakers are not left behind, and Australian consumers can connect with the real stars of the industry.”
Naked Wines aims to directly connect the consumer with the winemaker, thus “stripping out all the fluff”, such as marketing.
The website allows customers to interact directly with one another and with the winemakers.
Customers are encouraged to build a profile, make friends, upload content, and integrate their ratings with their Twitter and Facebook accounts.
Naked Wines also has an iPhone app with videos, tasting notes, shareable deals, and the ability to chat to the winemaker about the wine they are drinking.
Naked Wines Australia already has several projects on the go, including:
<ul>
<li>Sam Plunkett, a winemaker from the Strathbogie Ranges in Victoria, who set up his own label after his wine was named best shiraz in Australia in 2010.</li>
</ul>
<ul>
<li>Husband-and-wife team Rebecca and Adrian Santolin, who met while working in the wine industry and created their own label, Boy Meets Girl.</li>
</ul>
<ul>
<li>Former Craggy Range winemaker Rod Easthope, who wants to produce an exclusive range of wines under his own name at scale.</li>
</ul>
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
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Naked wines group gives customers the chance to invest in vineyards

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Mirvac threw in in an extra $10,000 sweetener to attract first-home buyers to some of its offerings before the Victorian government’s first-home bonus expires tomorrow, June 30.
<img src="/images/stories/2012/06/tce1.jpg">
The latest release of homes in the master-planned <a target="_blank" href="https://www.propertyobserver.com.au/land/near-90-of-lots-sold-in-first-release-of-wantirna-south-project-harcrest/2012050154454">Harcrest</a> and Waverley Park developments, called Terrace Homes, come with a $10,000 Visa cash card.
<img src="/images/stories/2012/06/tce3.jpg">
The homes launched in early June, and about 30% are sold so far. Until tomorrow, first-home buyers who buy a property under $600,000 <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863" target="_blank">will be entitled to a $13,000 bonus from the Victorian governmnent. </a>From this Sunday, first-home buyers will be entitled to a 20% reduction in stamp duty on homes under $600,000. For a home costing $600,000, this equates to a stamp duty savings of $6,214, less than half what a first-home buyer would secure from the first-home bonus.
<img src="/images/stories/2012/06/tce5.jpg">
The three-bedroom Terrace Homes start from $505,000 and are aimed at the first-home buyer market.
<img src="/images/stories/2012/06/tce4.jpg">
“We understand many young couples and families are struggling to buy their first home, juggling things like rising utility bills, school fees and food costs. With the first-home owner grant coming to an end on 30 June, the Terrace Homes offer Mirvac’s signature quality finishes at an affordable price point, meaning more families are now able to buy their own home,” says Matthew Wallace, Mirvac CEO of masterplanned communities.
Harcrest is in the outer-Melbourne suburb of Wantirna South, about 30 kilometres east of Melbourne CBD, and Waverley Park is in the south-eastern Melbourne suburb of Mulgrave, about 25 kilometres from the CBD.
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Mirvac’s latest Victorian releases target first-home buyers with $10,000 sweetener in June

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<a href="https://www.propertyobserver.com.au/leisure/sydney-shangri-la-hotel-sells-to-hong-kong-shangri-la-asia-group-for-record-%24352-million/2012062555249" target="_blank"><img src="/images/stories/2012/06/352m.gif"></a>
The <a href="https://www.propertyobserver.com.au/leisure/sydney-shangri-la-hotel-sells-to-hong-kong-shangri-la-asia-group-for-record-%24352-million/2012062555249" target="_blank">record-setting price Hong Kong-listed Shangri-La Asia has paid for Sydney’s Shangri-La Hotel in The Rocks</a>. Asian buyers have accounted for 93% of all hotel sales this year.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/the-square-kilometre-array-will-bring-international-attention-%E2%80%93-and-property-investment-%E2%80%93-to-geraldton-wa-terry-ryder/2012062755296"><img src="/images/stories/2012/06/5point2b.jpg"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/the-square-kilometre-array-will-bring-international-attention-%E2%80%93-and-property-investment-%E2%80%93-to-geraldton-wa-terry-ryder/2012062755296"> amount of money being invested in the Square Kilometre Array in Geraldton, WA</a>. The multibillion-dollar telescope project is "an international project involving 20 nations, and a site just outside Geraldton in Western Australia will provide the core of the development. This makes Geraldton a city of international importance and adds to its appeal as a place worthy of consideration by property investors," says hotspotting.com.au's Terry Ryder.
 
<hr>
 
 
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/2day-fm-s-jackie-o-buys-family-home-in-vaucluse-with-five-bedrooms/2012062255231"><img src="/images/stories/2012/06/2point7m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/2day-fm-s-jackie-o-buys-family-home-in-vaucluse-with-five-bedrooms/2012062255231">approximate price Jackie O</a>, the top-rating 2Day FM breakfast announcer, and her farmer husband, Lee Henderson, paid for their family home in Vaucluse, in Sydney's posh eastern suburbs last month. It’s a cosy five-bedroom 1920s abode. 
 
<hr>
<a href="https://www.propertyobserver.com.au/industry-news/the-oldest-real-estate-agencies-in-australia-as-ray-white-%E2%80%93-by-no-means-the-oldest-%E2%80%93-marks-110-years/2012062555079" target="_blank"><img src="/images/stories/2012/06/1839n.gif"></a>
The <a href="https://www.propertyobserver.com.au/industry-news/the-oldest-real-estate-agencies-in-australia-as-ray-white-%E2%80%93-by-no-means-the-oldest-%E2%80%93-marks-110-years/2012062555079" target="_blank">year that Elders Real Estate,</a> which claims the title of the oldest real estate agency in Australia, was founded.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-not-yet-becoming-manhattan-with-percentage-of-apartments-falling-abs-census-2011/2012062555253"><img src="/images/stories/2012/06/15point3percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-not-yet-becoming-manhattan-with-percentage-of-apartments-falling-abs-census-2011/2012062555253">percentage of Melbourne dwellings that are apartments</a>, according to the results of the 2011 census. This is down from 16.1% in 2006, discounting the perception that Melbourne is turning into a mini-Manhattan given the high-rise apartment projects in Docklands.
 
<hr>
 
 
 
<a target="_blank" href="https://www.propertyobserver.com.au/rural/almost-three-quarters-of-family-farms-don-t-make-enough-to-support-the-family/2012062655279"><img src="/images/stories/2012/06/72percent.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/rural/almost-three-quarters-of-family-farms-don-t-make-enough-to-support-the-family/2012062655279"> percentage of family farms that don't make enough money to support the family</a>. More than one-third of all family farms relied on adults living on the farm to earn wages elsewhere, reinforcing the stereotype that many farm wives have to work as local doctors, hairdressers and teachers for their families to survive.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/renovating/nine-years-after-the-tv-cameras-turned-off-bondis-original-block-units-hit-the-rental-market-with-hardly-a-credit/2012062755303"><img src="/images/stories/2012/06/720.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/renovating/nine-years-after-the-tv-cameras-turned-off-bondis-original-block-units-hit-the-rental-market-with-hardly-a-credit/2012062755303">asking rent for the winner of the 2003 inaugural series of The Block, in Bondi.</a> This is adjusted slightly downwards from its initial $750 asking rental. It's seemingly been rented.
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The 7 must-know numbers of the week, starting with the record-setting price paid for Sydney's Shangri-La Hotel

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16/187 Cleveland Street, Redfern, NSW, 2016
<img src="/images/stories/2012/06/cleveland.jpg">
Within walking distance of Central Station and Sydney CBD, this recently renovated two-bedroom apartment is currently tenanted at $550 per week, and the tenant is on an expired lease. Listing agent Braden Walters from True Property says the unit could reasonably be expected to fetch $570 a week in rent. The property is also within walking distance of Surry Hills, UTS and the University of Sydney. 
Walters <a target="_blank" href="https://www.trueproperty.com.au/411887/">is marketing the property</a> with price hopes of $500,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.7% at its current rent, above the indicative gross rental yield for Redfern units of 4.8%, according to RP Data. At $570 per week it would secure an investor a gross rental yield of $5.9%. 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.
<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 $13,000 and over five years to be $43,000.
The median unit price in Redfern rose 1.1% in the past year and 31.9% in the past five years, according to RP Data.
The property will go to auction on Saturday, June 30 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Redfern, see the RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see page 2.
<hr class="system-pagebreak">
3/18 The Crescent, Highett, VIC, 3190
<img width="470" src="/images/stories/2012/06/thecrescent.jpg">
This three-bedroom house in Highett has a long-term tenant paying $400 a week who would be keen to stay on. The property includes a standalone garage and is at the end of a quiet crescent.
Listing agent Christian Hegarty of Buxton <a href="https://www.ljhooker.com.au/F87GQH" target="_blank">is marketing the property </a>with price hopes of $420,000 plus, and if it sells for $420,000 that would secure an investor a gross rental yield of 5%, above the indicative gross rental yield of 3.3% for Highett 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 Highett  fell 6.7% in the past year, 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 $11,000 and over five years to be $39,000.
The property will be open for inspection Saturday, June 30 at 12.3opm and will go to auction Saturday, July 14 at 1.30pm.
For more about prices and yields in <a target="_blank" href="/news">Highett, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 5.9% in Redfern

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With the auction of The Block 2012 South Melbourne terraces coming up on Saturday and all of the rooms now revealed, Property Observer inspects each of the four terraces for comparison.
We also take a look at the <a href="https://www.propertyobserver.com.au/renovating/inside-the-block-2012-%E2%80%93-the-kitchens-and-dining-rooms/2012062555265" target="_blank">kitchens and dining rooms inside each The Block 2012 property.</a>
Sophie and Dale's <a target="_blank" href="https://www.kayburton.com.au/property/401-dorcas-street-south-melbourne">401 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed401.jpg">
<img width="470" src="/images/stories/2012/06/bed4012.jpg">
<img width="470" src="/images/stories/2012/06/bed4013.jpg">
<img width="470" src="/images/stories/2012/06/bath401.jpg">
<img width="470" src="/images/stories/2012/06/bath4012.jpg">
<img src="/images/stories/2012/06/line.gif">
Mike and Andrew's <a target="_blank" href="https://www.hstheblock.com.au/">403 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed403.jpg">
<img width="470" src="/images/stories/2012/06/bed4032.jpg">
<img width="470" src="/images/stories/2012/06/bed4034.jpg">
<img width="470" src="/images/stories/2012/06/bed4035.jpg">
<img width="470" src="/images/stories/2012/06/bed4036.jpg">
<img width="470" src="/images/stories/2012/06/bed4037.jpg">
 
 
<hr class="system-pagebreak">
 
Brad and Lara's <a target="_blank" href="https://www.buxton.com.au/cgi-bin/show_item.pl?Type=Property&amp;OID=4020713">405 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed405.jpg">
<img width="470" src="/images/stories/2012/06/bed4052.jpg">
<img width="470" src="/images/stories/2012/06/bed4054.jpg">
<img width="470" src="/images/stories/2012/06/bed4055.jpg">
<img src="/images/stories/2012/06/line.gif">
Dani and Dan's<a target="_blank" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2067340"> 407 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed407.jpg">
<img width="470" src="/images/stories/2012/06/bed4072.jpg">
<img width="470" src="/images/stories/2012/06/bed4073.jpg">
{module Block bedrooms}
{module Block 2012 winner}
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Inside The Block 2012 – the bedrooms and bathrooms

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With the auction of The Block 2012 South Melbourne terraces coming up on Saturday and all of the rooms now revealed, Property Observer inspects each of the four terraces for comparison.
We have also looked at the <a href="https://www.propertyobserver.com.au/renovating/inside-the-block-2012-%E2%80%93-the-kitchens-and-dining-rooms/2012062555265" target="_blank">kitchens and dining rooms inside each property.</a>
Sophie and Dale's <a target="_blank" href="https://www.kayburton.com.au/property/401-dorcas-street-south-melbourne">401 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out401.jpg">
<img width="470" src="/images/stories/2012/06/out4012.jpg">
<img width="470" src="/images/stories/2012/06/out4013.jpg">
<img width="470" src="/images/stories/2012/06/out4014.jpg">
<img width="470" src="/images/stories/2012/06/out4015.jpg">
<img src="/images/stories/2012/06/line.gif">
Mike and Andrew's <a target="_blank" href="https://www.hstheblock.com.au/">403 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out403.jpg">
<img width="470" src="/images/stories/2012/06/out4032.jpg">
<img src="/images/stories/2012/06/line.gif">
Brad and Lara's <a target="_blank" href="https://www.buxton.com.au/cgi-bin/show_item.pl?Type=Property&amp;OID=4020713">405 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out405.jpg">
<img width="470" src="/images/stories/2012/06/out4052.jpg">
<img width="470" src="/images/stories/2012/06/out4053.jpg">
<img width="470" src="/images/stories/2012/06/out4054.jpg">
<img src="/images/stories/2012/06/line.gif">
Dani and Dan's<a target="_blank" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2067340"> 407 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out407.jpg">
<img width="470" src="/images/stories/2012/06/out4072.jpg">
{module Block 2012 winner}
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Inside The Block 2012 – the exteriors and top floors

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Retail rents could fall by as much as 15% amid weak sales and store closures, according to Morgan Stanley, but an industry expert says retail sales are still growing at a modest pace. 
According to an article in The Australian Financial Review, Morgan Stanley analysts noted rents are dropping in a number of malls and for a number of retailers. 
But according to the Australian Retail Research and Forecast Report, produced by Colliers International, the first half of 2012 “has been a continuation of what we saw in 2011”. 
“The most recent retail trade figures released by the ABS reflect anecdotal evidence from retailers that conditions remain tough,” Colliers research director Nora Farren said in the report. 
“A number of high-profile retailer collapses and potential store closures were reported during the first half of 2012, but the number is actually lower than for the same period in 2011.” 
“The failure of Sleep City, WOW Audio Visual Superstores, Game and Retravision Southern are amongst those to occur during the past six months.” 
“While these will have a short-term effect on shopping centre occupancy levels, the fundamentals in high quality centres remain sound.” 
According to Farren, retailers will continue to open stores in order to grow profits, with tenant demand for good quality centres expected to exceed availability. 
“While sales growth has slowed across the portfolios of the major retail landlords, the bulk still report being able to increase rents on review,” she said. 
Strong regional shopping centres and supermarket-based assets have continued to perform better than small- to medium-sized malls with a focus on discretionary retail, the research found. 
Well-located neighbourhood centres that are not dependent on discretionary spending are expected to be well placed for growth in 2012. 
On a state by state basis, the mining states continue to outperform the rest of Australia with regard to retail spending, with WA now accounting for 11.9% of total retail turnover. 
“Within the non-mining states, New South Wales and South Australia bucked the trend… Annual growth for both states is running at 2.1%,” Farren says. 
“In Tasmania, retail sales fell 0.6% [in April], matching the Australian Capital Territory’s 0.6% fall during the month.”
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
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Retail rents could fall by 15% across Australia due to store closures and poor sales: Morgan Stanley

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There are only three days left for NSW property investors or non-first-home buyers to take advantage of the NSW government’s stamp duty exemption for new homes, and developer Tripod Property Group has rushed its new Zetland development Link to market, hoping to generate a few sales before the June 30 deadline.
<img src="/images/stories/2012/06/link1.jpg">
The south-Sydney Turner + Associates-designed development launched over the weekend. Three contracts were exchanged over the weekend, and marketing agency Colliers says there was a lot of interest.
The development is planned to include 31 one-bedroom apartments (18 with studies) with an average size of between 61 and 65 square metres, which will start from $490,000. The five two-bedroom apartments, with an average size of 90 square metres, start from $681,000, and the 36 two-bedroom apartments with studies start from $686,000 and average about 95 square metres.
<img src="/images/stories/2012/06/link3.jpg">
Buyers who want to take advantage of the NSW government’s home builder bonus, which applies to new properties under $600,000 for both owner-occupiers and investors and exempts buyers from stamp duty, have until July 1 before the scheme expires. First-home buyers would probably be wise to wait until October to purchase if they are willing to risk missing out on their first choice of apartments, but upgraders and investors could miss out on a stamp duty savings of up to $22,490 if they don't purchase by July 1.
<img src="/images/stories/2012/06/link2.jpg">
The 11,366-square-metre site will comprise 72 apartments across two buildings and will include 2,000 square metres of landscape gardens.
“This will be planted on top of a colonnade of shops, retail services and dining options,” says Dan Szwaj from Turner + Associates.
<img src="/images/stories/2012/06/link4.jpg">
The buildings are designed with splayed walls, articulated blades and vertical fins to create a sense of movement. Bold colours are used throughout internal and external spaces.
Every apartment comes with a car space, and strata fees are expected to be low, around $800 for one-bedrooms and $1,000 for two-bedrooms per quarter.
<img src="/images/stories/2012/06/link5.jpg">
The median unit price in Zetland, less than five kilometres from Sydney CBD, is $561,000, according to RP Data, and the median price fell 3.3% last year.
“Over the past decade Zetland has becoming increasingly popular as a residential address, particularly for young highly skilled knowledge workers who are attracted by the cafe lifestyle of Danks Street,” said Ian Bennett of Colliers International.
“Fortunately Link is located outside the high-density Green Square urban renewal zone, so residents will be able to take advantage of all the facilities at Green Square yet still enjoy space, privacy and peace.”
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Zetland development Link launches, with June 30 NSW property investor deadline days away 

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.

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<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.

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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.

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Joel Robinson

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

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

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[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.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[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]

Cassidy Knowlton

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