<html><body>
The top two highest priced properties sold this week were in Melbourne, according to RP Data.
A Malvern property of two blocks was the top sale of the week, with the combined properties costing $7,131,510. The property at 39 Mayfield Avenue alone sold for $4,865,000.
It comes with a five-bedroom cottage with a floodlit north/south tennis court in established gardens. There were the three bidders, according to James Buyer Advocates attendee Adam Woledge.
{yoogallery src=[images/stories/may9camberwell]}
The second highest sale of the week was 35 Broadway, Camberwell (pictured above), which was auctioned by Jellis Craig agent Alastair Craig. Caversham, a 1902 Federation house, was marketed by Steve Burke and Andrew Wilkie of Jellis Craig.
“A much-anticipated auction, this one as the property was a rare offering – an original home with fantastic bones on excellent land size and prized north-facing rear,” Melbourne buyers’ agent Mal James says.
James says there were six bidders at the hotly contested auction.
“There was a genuine buzz in the crowd – you could feel it – and many prominent local agents turned up to watch. Thankfully the rain stayed away and in front of around 100 people in the pretty front yard garden setting, auctioneer Alastair Craig was in his element and conducted an entertaining, spirited auction,” he says.
“The auction opened swiftly with a crowd bid of $2.7 million and was announced on the market not long after at $2,910,000. It didn't take too long for bidding to reach the $3 million mark and then limped along in a series of mixed bids to eventually slow down at around the $3.3 million mark. From there the auction limped along mainly in series of $1,000 bids until it was eventually bought by the original bidder at $3,425,000.”
The other top 10 properties comprised two more in Victoria, three in New South Wales, two in Queensland and one in WA.
1. 39 MAYFIELD AVENUE, MALVERN, VIC, 3144, five-bedroom house, sold at auction on May 5 by Kay &amp; Burton South Yarra for $7,131,510
2. 35 BROADWAY, CAMBERWELL, VIC, 3124, four-bedroom house, sold at auction on May 5 by Jellis Craig Real Estate Hawthorn for $3,425,000
3. 9A/5 THORNTON ST DARLING POINT, NSW, 2027, three-bedroom unit, sold at auction on May 2 by Raine &amp; Horne Double Bay for $2,901,000
4. 9 THE PROMONTORY, NOOSAVILLE, QUEENSLAND, 4566, three-bedroom house, sold on May 2 by Dowling &amp; Neylan Real Estate for $2.8 million
5. 53 THE PENINSULA, NOOSAVILLE, QUEENSLAND, 4566, four-bedroom house, sold on May 2 by Dowling &amp; Neylan Real Estate for $2.7 million
6. 38 SUSSEX STREET, BRIGHTON, VIC, 3186, four-bedroom house, sold before auction on May 5 by Hodges Brighton for $2,525,000
7. 81 STEWART STREET, PADDINGTON, NSW, 2021, three-bedroom house, sold at auction on May 5 by McGrath Estate Agents for $2,365,000
8. 51a WILLIAM STREET, BRIGHTON, VIC, 3186, three-bedroom house, sold at auction on May 3 by Buxton Brighton for $2.2 million
9. 34 BUNDOCK STREET, RANDWICK, NSW, 2031, five-bedroom house, sold at auction on May 5 by Laing + Simmons Kingsford for $2.2 million
10. 4 COLUMBA PLACE, PEPPERMINT GROVE, WA, 6011, five-bedroom house, sold at auction on May 5 by Acton Dalkeith for $2.15 million
 
 
 
 
 
</body></html>

cknowlton-QnEa6ntUYP

Pool-less Camberwell runs second to Malvern big splash top seller: RP Data

<html><body>
According to the Australian Tax Office, 825,284 of the 1,10,922 property investors in Australia in the 2009-10 financial year made $80,000 or less per year.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/atomay2.gif"><img src="/images/stories/atomay2thumb.gif"></a>
</body></html>

About 74% of property investors in 2009-10 made less than $80,000 a year: ATO

<html><body>
Almost $20 million will be spent over four years to provide business and finance training to newly-qualified tradespeople in order to help them start their own businesses. 
The $19.4 million boost builds on the $3 billion invested over six years in last year’s budget, through the Building Australia’s Future Workforce package. 
Grants of up to $5,000 will be available for 500 people in 2012-13, and then 1,000 people each year from 2013-14. 
People can apply for a grant within two years of completing a trade-related apprenticeship. 
According to Minister for Skills, Chris Evans, the new funding will ensure more tradespeople – early on in their careers – get the skills they need to run their own businesses. 
“It will also allow those completing their apprenticeship to access funding to cover the cost of training to improve their business-related skills – something which can be critical to the success of small businesses,” Evans said in a statement. 
Meanwhile, the government is reining in its Australian Apprenticeship spending to encourage higher retention rates in non-National Skills Needs List occupations. 
It’s hoped this will increase the completion incentive for employers to commit to the training of apprentices. 
The government will discontinue the $1,500 standard employer commencement incentive payment for existing worker Australian Apprentices in non-National Skills Needs List occupations. 
However, it will increase the standard completion incentive by $500 to $3,000. 
The change recognises that employers do not face the same level of upfront cost or risk when starting an existing worker in an apprenticeship.
 It also increases the incentive for them to support those employees through to the completion of their training. 
The government will also move the standard commencement payment made to employers for all apprentices, from being paid three months after commencement to six months after commencement.
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
</body></html>

Federal budget 2012: Grants for young tradespeople to start their own businesses

<html><body>
We were promised a Labor budget and we got one, at least Labor in its modern sense of a managerialist party that still faintly remembers the old nostrums of equity and opportunity that form what’s left of its core values. 
If we had a genuine budget process that didn’t involve systematic leaking of major initiatives, one suspects the reporting of this budget would be very different. Between aged care reform, the dental program, a start to a national disability insurance scheme and additional welfare (let’s call it what it is) for low-and middle-income earners, there’s plenty of “Labor” initiatives – although some credit will have to be shared with the Greens. Moreover, unlike big-ticket items like the carbon pricing package or the mining tax, one suspects the aged care reforms and the NDIS will be left intact by the Coalition. 
Despite all that, the budget is scheduled to be back in surplus, albeit virtually a rounding error, without too much pain except from high-income earners, the foreign aid lobby and business, which has seen its promised 1% tax cut vanish before its eyes. The surplus also comes at the cost of Labor’s credibility on personal tax reform, to the extent that anyone remembers the government’s insistent rhetoric about making life easier for taxpayers last year. 
Labor will also be hoping that no one notices that this year’s deficit has blown out yet again by another $7 billion, something else that has helped it get that magical black figure for next year. Some commentators keep talking about the size of the fiscal turnaround between this year and next, forgetting that in fact the two are closely related – Wayne Swan has been busy shifting payments into this year from next, knowing neither the media nor the electorate will pay much attention to it. 
But none of that – putting aside the static of brothel-visiting union officials and accused speakers – is likely to cut through for any sort of turnaround for Labor. It’s more of the same that we’ve got from the government ever since the financial crisis receded – steady, unspectacular, and in my view sound management in an environment where revenue is hard to come by and ministers in spending portfolios have to curb their ambitions. Labor is a prisoner of a mining boom that began, pre-GFC, as a vast tax machine, but has now turned into a vast investment machine, dedicated to expanding resources capacity at the expense of taxable profits. Meantime, more traditional sectors like manufacturing continue to struggle. The impacts on tax revenue will be felt for years to come. 
Labor hopes the extra money flowing to low- and middle-income earners is enough to assuage the electorate’s hostility to the carbon price and that broken promise. The party hopes it’s enough to turn angry, resentful voters into voters at least willing to listen to Labor’s story about how it’s managed the economy through a difficult period pretty well and why the Opposition is all over the place on fiscal policy and economic policy more broadly. The carbon compensation ultimately is the political compensation for years of poor communication by Labor. 
What Labor wouldn’t give for just one year of the conditions Peter Costello enjoyed before the financial crisis, where the main challenge each budget was to find new ways to spend extra revenue. But this is Labor’s economic lot; the party may well rue its luck, just as it rued its luck in entering office on the eve of a financial catastrophe, but you manage the economy you’re given. Swan has been a bland but responsible Treasurer, and history will ultimately offer a fairer judgment of his economic legacy than voters certainly will. But that will be of no comfort to Labor MPs facing a wipeout next time they go to the polls.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
 
 
</body></html>

Federal budget 2012: Battler’s budget won’t do much for Labor but won’t hurt its legacy

<html><body>
The Commonwealth Bank will cut up to 100 jobs in its Melbourne-based mortgage division.
The banking giant says it is making the changes due to weak demand.
“The Commonwealth Bank can confirm that it advised staff in its Melbourne mortgage services operations that it will be making a number of changes in its mortgage services operations as a result of constant improvement in our processes, fluctuating customer demands and the low industry growth in home loan volumes,” the bank said in a statement.
Some staff may be redeployed, but the restructure is expected to result in around 100 redundancies, the bank said in a statement.
The bank said the changes will include:
<ul>
<li>Opening a new mortgage services shopfront in Melbourne</li>
<li>Closing mortgage services processing in Melbourne at the end of the year</li>
<li>Increasing the number of roles in our Melbourne mortgage services call centre</li>
<li>Moving some processing services to our interstate centres</li>
</ul>
“While many people will be redeployed into other areas in the bank, there will be some roles (around 100) which will be made redundant.”
“Where there are redundancies we will provide appropriate counselling, support and outplacement services.  However, our priority remains to redeploy the majority of the staff who work in that centre and we have been successful in identifying alternative opportunities for many of our staff.”
The Commonwealth Bank has given a commitment to not move any Australian jobs offshore and will continue to retain all call centre and operations processing functions within Australia.
This article originally appeared on <a href="https://www.leadingcompany.com.au/" target="_blank">LeadingCompany</a>.
 
 
</body></html>

Commonwealth Bank to cut up to 100 jobs in its Melbourne-based mortgage division

<html><body>
It's no wonder Residex boss John Edwards is <a href="https://www.propertyobserver.com.au/residential/melbourne-housing-market-on-the-wrong-side-of-the-ledger-residex-boss-john-edwards/2012041954363" target="_blank">worried about Melbourne</a>. House prices have gone backwards throughout Melbourne for the year to March 2012, new Residex figures reveal.
Every Melbourne region had negative house price growth for the year ending March 2012, which is in stark contrast with the year to March 2011, when every Melbourne region had positive house price growth.
The greatest change was in the outer-northern Melbourne suburb of Meadow Heights, which went from recording 12.1% growth in the year to March 2011 to house price falls of 8.53% in the 12 months to March 2012. The median house prices in Meadow Heights is $459,500.
The next biggest disparity was in Essendon, which recorded house price growth of 11.53% in the year to March 2011, according to Residex. Over the year to March 2012 house prices fell 8.75% to $584,000.
House prices also fell in most Melbourne localities in the last month, with Brunswick (up 3.13%) the strongest performer. The median house price in Brunswick is $545,000. The worst falls were experienced in Essendon, where house prices fell 1.9% in the past month.
Essendon was also the worst performer in the past quarter, with house prices falling 4.98%. The strongest suburb in the past quarter was the inner-north suburb of Fitzroy, where house prices increased 1.09% to $618,000.
In the past decade house prices have grown more or less uniformly across Melbourne, with weakest-performing Essendon (house prices up 6.02%) not wildly divergent from best-performer Fitzroy (up 8.13%).
 
Click to enlarge
<a rel="shadowbox" href="/images/stories/residexmay72.gif" title="Click to enlarge"><img src="/images/stories/residexmay72thumb.gif"></a>
</body></html>

House prices fell in all Melbourne regions in past year, with Essendon the worst performer: Residex

<html><body>
There was a lot of interest – but not many bids – at an Elsternwick auction over the weekend.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">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 agents were right about the interest in 21 Hopetoun Street, Elsternwick (pictured below) as, due to the rain, a huge crowd crammed into the living room to watch the auction.
<img src="/images/stories/hopetoun.jpg">
Unfortunately for the owner this interest did not translate into bids as the property passed in on a solitary bid for $1.4 million. But one bidder really wanted the property, and after a short negotiation the buyer upped their bid by just over $140,000 as the property sold for $1.541 million.
The recent trend for many vendors in Sydney has been to try and sell prior to auction, as low clearance rates means taking a property all the way through to auction can be risky.
However the vendors at 22 Rawson Street, Epping (pictured below) knew they had strong interest in their property and on Saturday this interest converted into multiple bidders. After being quoted at $1.2 million plus, the property sold for $1,312,000.
<img src="/images/stories/rawson.jpg">
Only two rounds to go in the autumn season of Property Tycoon, and the competition is heating up.
 
</body></html>

Interest doesn’t translate into bids for Elsternwick auction tipping competition property

<html><body>
The amount of stock on the market declined in all capital cities in April compared with March, according to SQM Research. Of course, the month of April contained the Easter long weekend, Anzac Day and school holidays.

The biggest decrease in stock on market was in Sydney, which recorded a 12.1% decrease month on month. 

"It is becoming more evident that the number of real estate listings has reached its peak," says SQM managing director Louis Christopher.

But Christopher warns that just because stock levels have peaked, it does not mean that prices are rebounding.

“Now while stock levels maybe be peaking, that doesn’t mean prices have suddenly stopped falling," Christopher says.

"As the ABS data illustrates, house prices were falling in the March quarter and we think they are still falling as we speak. I’d like to see a sustained decline in stock levels before calling a real bottom in prices. But overall, the worst now is likely behind us with this current downturn.”
 
<img src="/images/stories/48430.gif">
The amount of stock currently on the market in Melbourne, according to SQM Research. This is down 4.7% from last month but up 11.2% from this time last year.
<hr>
<img src="/images/stories/31030.gif">
The amount of stock currently on the market in Sydney, according to SQM Research. This is down 12.8% from last month and down 8.2% from this time last year.
<hr>
<img src="/images/stories/27522.gif">
The amount of stock currently on the market in Brisbane, according to SQM Research. This is down 6.9% from last month and down 10.4% from this time last year.
 
<hr>
<img src="/images/stories/18785.gif">
The amount of stock currently on the market in Perth, according to SQM Research. This is down 5.5% from last month and down 14.1% from this time last year.
 
<hr>
<img src="/images/stories/17559.gif">
The amount of stock currently on the market in Adelaide, according to SQM Research. This is down 2.5% from last month but up 5.8% from this time last year.
 
<hr>
<img src="/images/stories/4584.gif">
The amount of stock currently on the market in Hobart, according to SQM Research. This is down 2% from last month but up 29.3% from this time last year.
 
<hr>
<img src="/images/stories/3611.gif">
The amount of stock currently on the market in Canberra, according to SQM Research. This is down 7.2% from last month but up 8.7% from this time last year.
 
<hr>
 
<img src="/images/stories/1234.gif">
The amount of stock currently on the market in Darwin, according to SQM Research. This is down 6.8% from last month and down 28.6% from this time last year.
 
 
</body></html>

How much stock is on the market in your capital city? A state-by-state analysis: SQM

<html><body>
G7, 199 Pyrmont Street, Pyrmont, NSW, 2009
<img src="/images/stories/pyrmont1.jpg">
The tenants of this two-bedroom Pyrmont apartment are paying $730 per week and are on a lease until September this year. Within the Casino Gardens building, the apartment includes an internatl laundry, and the building has a swimming pool and gym. It is within easy walking distance of Darling Harbour and the CBD.
Kho and Lee Property Group agent Sami Yildiz<a href="https://www.khoandlee.com.au/properties/557124/details" target="_blank"> is marketing the property</a> with price hopes in the "early $600,000s". If it sells for $600,000 that would secure an investor a gross rental yield of 6.3%, significantly above the indicative gross rental yield for Pyrmont units of 5.1, 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.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $12,000 and over five years to be $42,000.
The median unit price in Pyrmont fell by 4.3% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 5 at noon and will go to auction Saturday, May 26 at 11.30am. 
For more about prices and yields in Pyrmont, see the RP Data suburb page.
 
<hr class="system-pagebreak">
 
1 Harcourt Street, Blackburn North, VIC, 3130
<img src="/images/stories/harcourt1.jpg">
Although this property is in need of renovation, it is currently returning $310 per week, with a rent increase to $320 per week about to take effect. The tenants are on an expired lease but are keen to stay on. The block is 516 square metres and could be suitable for redevelopment. It is within easy walking distance of North Blackburn Square Shopping Centre, Blackburn High and Old Orchard Primary. It has excellent access to the freeway.
Noel Jones agent Tim Penhalluriack<a target="_blank" href="https://www.noeljones.com.au/property-details/3931451/"> is marketing the property</a> with price hopes of $420,000 plus. If it sells for $420,000 that would secure an investor a gross rental yield of 4%, above the indicative gross rental yield for Blackburn North houses of 3.2%, 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 asking rent for Blackburn North houses is $380 per week.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000.
The median house price in Blackburn North fell by 6.7% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 5 at 10am and will go to auction Saturday, May 19 at 10am.
For more about prices and yields in <a target="_blank" href="/news">Blackburn North, see the RP Data suburb page.</a>
 
 
 
</body></html>

Friday form guide: Yields of up to 6.3% in Pyrmont

<html><body>
<img src="/images/stories/21.gif">
The number of consecutive  months house prices have fallen, according to the ABS. "The odds are that the rate of decline will accelerate in the next year," <a target="_blank" href="https://www.propertyobserver.com.au/residential/abs-figures-show-australia-s-housing-price-bubble-is-bursting-steve-keen/2012050254514">says economist Steve Keen</a>, who sees the ABS figures as a sign that Australia's housing bubble is bursting.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/overseas/nab-first-of-big-four-banks-to-cut-rates-with-032-percentage-point-cut/2012050254522"><img src="/images/stories/32.gif"></a>
The basis point cut that <a target="_blank" href="https://www.propertyobserver.com.au/overseas/nab-first-of-big-four-banks-to-cut-rates-with-032-percentage-point-cut/2012050254522">NAB will pass onto its mortgage customers</a> after the RBA cut the official cash rate by 50 basis points on Tuesday. NAB was the first of the big four to announce its rates decision.  “Decisions on lending rates are not taken lightly, but we are determined to provide our customers with certainty through our commitment to stay the lowest of the major banks for the rest of 2012," says the bank. NAB's new standard variable interest rate will be 6.99%.
<hr>
<img src="/images/stories/40.gif">
The basis point cut that the Commonwealth Bank, the second bank to move, will pass onto its customers after the RBA's 50-basis-point cut on Tuesday. The bank’s new standard variable rate is 7.01%.
 
<hr>
<a href="https://www.propertyobserver.com.au/land/free-wandin-valley-building-block-giveaway-to-prompt-pitt-town-buying-urgency/2012050154490" target="_blank"><img src="/images/stories/1in31.gif"></a>
The chances a buyer in a Pitt Town land release has of  <a href="https://www.propertyobserver.com.au/land/free-wandin-valley-building-block-giveaway-to-prompt-pitt-town-buying-urgency/2012050154490" target="_blank">winning back the outlay spent on a block of land</a> once all the blocks are sold. "People say they will buy, but there is no urgency,” says the developer, adding that the block prices had already been cut by $100,000 to $200,000.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/interest-rates-to-fall-to-3.25-over-2012-shock-prediction-from-westpac-economist-bill-evans/2012050154508" target="_blank"><img src="/images/stories/3point25percent.gif"></a>
Westpac chief economist Bill Evans' prediction of where the cash rate will sit by the end of the year. <a href="https://www.propertyobserver.com.au/news/interest-rates-to-fall-to-3.25-over-2012-shock-prediction-from-westpac-economist-bill-evans/2012050154508" target="_blank">Evans predicts two more rate cuts this year</a>, saying the first will happen in August.
 
<hr>
<a href="https://www.propertyobserver.com.au/new-south-wales/john-mcgrath-sells-duffys-forest-weekender-at-a-loss/2012050254515" target="_blank"><img src="/images/stories/4point05m.gif"></a>
The price McGrath boss <a href="https://www.propertyobserver.com.au/new-south-wales/john-mcgrath-sells-duffys-forest-weekender-at-a-loss/2012050254515" target="_blank">John McGrath secured for his Duffys Forest weekender</a>. He bought it for $4.7 million in April last year.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/not-quite-a-photo-finish-for-sean-izzards-stanwell-park-sale-title-tattle/2012050254513"><img src="/images/stories/1point15m.gif"></a>
The sale price for photographer <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/not-quite-a-photo-finish-for-sean-izzards-stanwell-park-sale-title-tattle/2012050254513">Sean Izzard's Stanwell Park property</a>. It was initially listed with $1.3 million hopes, which were revised to $1.2 million before its March auction.
 
 
 
</body></html>

The 7 must-know numbers of the week, starting with Steve Keen's harbinger of the housing bubble bursting

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

Joel Robinson

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

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

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

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

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

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

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

Cassidy Knowlton

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News