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Federal Finance Minister Penny Wong has denied that the Prime Minister is putting pressure on the Reserve Bank to cut rates, insisting that the government’s focus is returning Australia to surplus. 
Yesterday, Julia Gillard said that a budget surplus would give the RBA the opportunity to lower interest rates. 
Wong later said that Gillard wasn’t trying to “heavy” the central bank into cutting rates. 
Economist Christopher Joye said yeseterday that the Prime Minister's speech was an <a target="_blank" href="/news">attempt to politicise the RBA.</a> 
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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Finance Minister Penny Wong denies government pressure on RBA to cut rates

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There were 792 sales in Perth for the week ending April 18, according to the Real Estate Institute of Western Australa. This is up 195% from the same week last year. The same week last year was the lead-up to Easter, which fell on April 24 last year.
<img src="/images/stories/reiwaapril19.gif">
 
 
 
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Perth sales volumes up 195% on same week last year: REIWA

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<a href="https://www.propertyobserver.com.au/renovating/sydney-re-embraces-its-passion-for-the-block-as-south-melbourne-swan-song-series-kicks-off-with-bigger-numbers/2012041754309"><img src="/images/stories/1point4m.gif"></a>
 
The <a target="_self" href="https://www.propertyobserver.com.au/renovating/sydney-re-embraces-its-passion-for-the-block-as-south-melbourne-swan-song-series-kicks-off-with-bigger-numbers/2012041754309">average number of viewers who watched the premiere of The Block 2012</a>. This is up from last year's 1,342,000 who watched the first show of The Block 2011.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/leisure/eiger-chalet-at-perisher-set-for-auction-after-51-years-ownership/2012041354253"><img src="/images/stories/51.gif"></a>
The number of years the <a target="_blank" href="https://www.propertyobserver.com.au/leisure/eiger-chalet-at-perisher-set-for-auction-after-51-years-ownership/2012041354253">Eiger Chalet at Perisher in the NSW ski fields </a>has been owned by its original owners, who have now put the property up for sale.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/land/final-piece-of-brian-rays-port-douglas-bale-dream-sells-for-%24750000/2012041654286"><img src="/images/stories/750k.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/land/final-piece-of-brian-rays-port-douglas-bale-dream-sells-for-%24750000/2012041654286">price paid for the last piece of land due to be developed by the late Gold Coast property developer Brian Ray</a>, which sold under the hammer this week. 
 
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<img src="/images/stories/6point32percent.gif">
The standard variable mortgage rate being offered by Collins Home Loans. This is currently the cheapest standard variable mortgage rate being offered by banks or non-bank lenders in Australia.
 
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<a href="https://www.propertyobserver.com.au/residential/harry-triguboffs-six-steps-to-apartment-affordability-%E2%80%93-starting-with-more-high-rise/2012041754326" target="_blank"><img src="/images/stories/12.gif"></a>
The minimum number of stories a new development in inner Melbourne or Sydney should have, <a href="https://www.propertyobserver.com.au/residential/harry-triguboffs-six-steps-to-apartment-affordability-%E2%80%93-starting-with-more-high-rise/2012041754326" target="_blank">according to Meriton boss Harry Triguboff</a>. "In inner-city areas we need to recognise that five-to six-storey apartments are uneconomical," Triguboff says.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/actor-ryan-toadie-moloney-says-goodbye-to-malvern-east-neighbours-as-home-sells-title-tattle/2012041754329"><img src="/images/stories/1point2m.gif"></a>
The <a target="_parent" href="https://www.propertyobserver.com.au/victoria/actor-ryan-toadie-moloney-says-goodbye-to-malvern-east-neighbours-as-home-sells-title-tattle/2012041754329">price hopes Ryan "Toadie" Moloney had for his Malvern East home</a>, which sold this week. The sale price has not been disclosed.
 
<hr>
 
<a href="https://www.propertyobserver.com.au/developments/melbournes-second-tallest-tower-residential-receives-approval-for-southbank-queensbridge-hotel-site/2012041854346" target="_blank"><img src="/images/stories/276m.gif"></a>
The <a href="https://www.propertyobserver.com.au/developments/melbournes-second-tallest-tower-residential-receives-approval-for-southbank-queensbridge-hotel-site/2012041854346" target="_blank">height of a new skyscraper planned for the Queensbridge Hotel site in Southbank</a>. When complete, the tower will be the second-tallest residential building in Melbourne.
 
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The 7 must-know numbers of the week, starting with The Block ratings

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7/70 Nepean Highway, Seaford, VIC, 3198
<img src="/images/stories/nepeanhwy.jpg">
Directly opposite the beach, this two-bedroom Seaford unit is currently let until August at $245 per week. The property comes with a courtyard for entertaining and carport, and it is within walking distance of Seaford village.
Barry Plant agent Peter Howard says it is in "liveable condition" but that it could use "a small bit of an update". He says that any renovation to the proprety would increase its rental potential. The median asking rent for Seaford units is $275 per week, according to RP Data.
Howard<a target="_blank" href="https://www.barryplant.com.au/property.cfm?propertyID=2010243&amp;realestate=70_Nepean_Highway_SEAFORD_VIC_3198&amp;menuItemID=41771"> is marketing the property</a><a href="https://maroubra.ljhooker.com.au/P9SFA0" target="_blank"> </a>with price hopes $220,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.8% at its current rent, substantially above the median indicative gross rental yield of 4.3% for Seaford units, 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 $3,000 and over five years to be $5,000.
The median unit price in Seaford rose by 1.5% in the past year, according to RP Data.
The property will be open for inspection Saturday, April 21 at 11am and will go to auction on Saturday, May 19 at 11am.
For more about prices and yields in Seaford, see the <a target="_blank" href="/news">RP Data suburb page.</a>
For another investment prospect going to auction this weekend, see page 2.
 
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49 Macquarie Street, Greenacre, NSW, 2190
<img src="/images/stories/macquariest.jpg">
This three-bedroom house is currently tenanted at $500 per week, which is market rent for the area, according to listing agent Bassam Barake of Elders Real Estate. The lease is expired but the tenant is keen to stay on. The 670-square-metre block includes a garage and garden shed.
Barake<a target="_blank" href="https://www.eldersrealestate.com.au/residential/buy/property-house-nsw-greenacre-492148"> is marketing the property</a> with price hopes in the "high $500,000"s. If it sells for $580,000 that would secure a gross rental yield of 4.5%, about at the indicative gross rental yield for Greenacre houses of 4.6%, 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. If it sells for $600,000, that would secure an investor a gross rental yield of 4.3%.
<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 $4,000 and over five years to be $9,000.
The median house price in Greenacre rose 3.2% in the past year, according to RP Data.
The property will go to auction Saturday, April 21 at 3pm.
For more about prices and yields in Greenacre see the RP Data suburb page.
 
 
 
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Friday form guide: Yields of up to 5.8% in Seaford

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The Housing Industry of Australia and RP Data have released a list of the 10 least expensive regional markets in Australia for lots of land, led by Richmond-Tweed in New South Wales.
<img src="/images/stories/269000.gif">
The median lot price in Richmond-Tweed, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/235000.gif">
The median lot price on the Sunshine Coast, Queensland, according to the HIA and RP Data.
 
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<img src="/images/stories/230290.gif">
The median lot price on the Gold Coast, Queensland, according to the HIA and RP Data.
 
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<img src="/images/stories/210000.gif">
The median lot price in the Illawarra, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/194000.gif">
The median lot price in Barwon, Victoria, according to the HIA and RP Data.
 
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<img src="/images/stories/176000.gif">
The median lot price in Mackay, Queensland, according to the HIA and RP Data.
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<img src="/images/stories/173000.gif">
The median lot price in Hunter, New South Wales, according to the HIA and RP Data.
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<img src="/images/stories/163450.gif">
The median lot price in south-west Western Australia, according to the HIA and RP Data.
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<img src="/images/stories/16000.gif">
The median lot price in Fitzroy, Queensland according to the HIA and RP Data.
 
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<img src="/images/stories/157900.gif">
The median lot price in northern Queensland according to the HIA and RP Data.
 
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Richmond-Tweed heads the 10 most expensive regional markets for land prices: HIA-RP Data

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The Housing Industry of Australia and RP Data have released a list of the 10 least expensive regional markets in Australia for lots of land, led by south-east South Australia.
<img src="/images/stories/74000.gif">
The median lot price in south-east South Australia, according to the HIA and RP Data.
 
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<img src="/images/stories/77500.gif">
The median lot price in Mersey-Lyell, Tasmania, according to the HIA and RP Data.
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<img src="/images/stories/80750.gif">
The median lot price in Mallee, Victoria, according to the HIA and RP Data.
 
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<img src="/images/stories/85000.gif">
The median lot price in northern New South Wales, according to HIA and RP Data.
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<img src="/images/stories/89500.gif">
The median lot price in northern South Australia, according to HIA and RP Data.
 
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<img src="/images/stories/90000.gif">
The median lot price in Murrumbidgee, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/97000.gif">
The median lot price in Murray Lands, South Australia, according to HIA and RP Data.
 
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<img src="/images/stories/101500.gif">
The median lot price in Murray, New South Wales, according to HIA and RP Data.
 
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<img src="/images/stories/105000.gif">
The median lot price in Loddon, Victoria, according to HIA and RP Data.
 
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<img src="/images/stories/107500.gif">
The median lot price in Ovens-Murray, Victoria, according to HIA and RP Data.
 
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The 10 cheapest regional markets for land prices across Australia: HIA-RP Data

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<div>
Founder(s): Shane Thatcher, Liz Aitken, Nick Barr  Revenue: $372,000 Started: 2010 Head Office: Victoria Employees: 3 Industry: Other Website: <a href="https://www.startupsmart.com.au/weblink?cid=5819&amp;fid=36&amp;ord=1" title="www.illuminationsolar.com">www.illuminationsolar.com</a>
</div>
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<img src="/images/stories/shanethatcher.gif" style="float: left; margin: 5px;">
<div>The solar industry has taken a beating these past few years, but that hasn’t stopped Shane Thatcher (pictured left) from starting Illumination Solar with a clear vision: “To eliminate the burning of kerosene as a fuel source in the developing world.”
Illumination isn’t focusing on the Australian market, but is instead turning to the developing world in order to make a change, being able to provide lights at such a low price due to carbon credits.
Thatcher’s goal is as much as philanthropic as it is commercial and he says the business has already been able to “change the lives of over two hundred thousand people and managed to feed ourselves in the process.”
There are significant problems in bringing solar to the developing world, however.
“Our markets and customers are geographically and culturally diverse,” he says.
“They often lack basic commercial infrastructure and it took some time to locate and develop reliable and trustworthy distribution partners.”
But he says by using a simple customer-focused design, the business has been able to produce a target price point that “makes an enormous difference to our customers’ lives.
“The market potential is absolutely enormous,” Thatcher says.
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
 
 
 
 
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StartupSmart Awards 2012: Illumination Solar

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A three-bedroom Bronte house that fetched $2.39 million was the most expensive sale this week, according to RP Data. The 2003 Tipper Avenue house is 50 metres from the beach and was sold by Goodyer Donnelley agent Alexander Phillips on April 13. The adjoining Tipper Avenue house fetched $2.45 million in 2008, also through Phillips.
New South Wales accounted for eight of the 10 most expensive sales of the week, according to RP Data. A two-bedroom Broadbeach unit was the most expensive sale outside of the state. The Queensland unit sold for $1.75 million, coming in at number six on the list. 
It just pipped a four-bedrom Fairfield house that sold for $1.71 million and ranked as the seventh most expensive sale of the week. 
 
1. 23 TIPPER AVENUE, BRONTE, NSW, 2024, three-bedroom house, sold on April 13 by Goodyer Donnelley Real Estate for $2.39 million
2. 80 GORDON STREET, PADDINGTON, NSW, 2021, four-bedroom house, sold at auction on April 13 by Goodyer Donnelley Real Estate for $2,125,000
3. 25 EDMUND STREET, QUEENS PARK, NSW, 2022, four-bedroom house, sold on April 11 by Belle Property Bondi Junction for $2.1 million
4. 72 TRAFALGAR STREET, ANNANDALE, NSW, 2038, four-bedroom house, sold at auction on April 14 by Belle Property Annandale for $2.05 million
5. 1 MCBURNEY STREET, NAREMBURN, NSW, 2065, four-bedroom house, sold at auction on April 12 by McGrath Estate Agents for $2 million
6. 4/5 BROADBEACH BOULEVARD, BROADBEACH, QUEENSLAND, 4218, two-bedroom unit, sold at auction by Del La Parker Executive Realtors for $1.75 million
7. 47 PARK CRESCENT, FAIRFIELD, VICTORIA, 3078, four-bedroom house, sold at auction on April 14 by Collins Simms Real Estate for $1.71 million
8. 6 CLEVEDON ROAD, HURSTVILLE, NSW, 2220, five-bedroom house, sold on April 10 by CoStar Real Estate Hurstville for $1.65 million
9, 1005/21 ELIZABETH BAY ROAD, ELIZABETH BAY, NSW, 2011, two-bedroom unit, sold on April 12 by Richardson &amp; Wrench Elizabeth Bay/Potts Point for $1.65 million
10. 35B SPENCER ST ROSE BAY, NSW, 2029, three-bedroom house, sold at auction on April 10 by Richardson &amp; Wrench Bondi Junction/Bondi Beach for $1,587,000
 
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NSW represents eight of the top 10 sales of the week, with Bronte leading the way: RP Data

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Almost half of the 95 apartments in Abacus Property Group’s new Brighton development, 380 degrees, have sold since the project launched in February.
The $110 million development at 380 Bay Street will comprise five levels and is designed to appeal to buyers seeking luxurious, low-maintenance living options in the affluent suburb.
“With apartment living growing exponentially in recent years, 380 Degrees has been carefully designed to capture the epitome of contemporary Australian living,” says Abacus Property Group associate director John Bush.
He says the development appeals to “a broad range of buyers, including empty nesters, investors, corporate high flyers and first-home buyers”.
<img src="/images/stories/380degrees1.jpg">
About 40 of the apartments have been sold to date. Construction commenced in March this year and is set to be finished in late 2013.
There will be 42 one-bedroom apartments, which will range in size from 55 to 75 square metres and from $460,000 to $600,000. Of these, 31 will include a multipurpose room/study, and these start from $545,000. The 40 two-bedroom offerings will be between 80 and 117 square metres internally and will range between $639,000 and $995,000 in price. There will be 13 three-bedroom units of between 102 and 125 square metres, priced between $1.11 million and $1.27 million.
According to RP Data, 20% of the dwelling stock in <a href="Almost%20half%20of%20the%2095%20apartments%20in%20Abacus%20Property%20Group%E2%80%99s%20new%20Brighton%20development,%20380%20degrees,%20have%20sold%20since%20the%20project%20launched%20in%20February.%20The%20%24110%20million%20development%20at%20380%20Bay%20Street%20will%20comprise%20five%20levels%20and%20is%20designed%20to%20appeal%20to%20buyers%20seeking%20luxurious,%20low-maintenance%20living%20options%20in%20the%20affluent%20suburb.%20%E2%80%9CWith%20apartment%20living%20growing%20exponentially%20in%20recent%20years,%20380%20Degrees%20has%20been%20carefully%20designed%20to%20capture%20the%20epitome%20of%20contemporary%20Australian%20living,%E2%80%9D%20says%20Abacus%20Property%20Group%20associate%20director%20John%20Bush.%20He%20says%20the%20development%20appeals%20to%20%E2%80%9Ca%20broad%20range%20of%20buyers,%20including%20empty%20nesters,%20investors,%20corporate%20high%20flyers%20and%20first-home%20buyers%E2%80%9D.%20About%2040%20of%20the%20apartments%20have%20been%20sold%20to%20date.%20Construction%20commenced%20in%20March%20this%20year%20and%20is%20set%20to%20be%20finished%20in%20late%202013.%20There%20will%20be%2042%20one-bedroom%20apartments,%20which%20will%20range%20in%20size%20from%2055%20to%2075%20square%20metres%20and%20from%20%24460,000%20to%20%24600,000.%20Of%20these,%2031%20will%20include%20a%20multipurpose%20room/study,%20and%20these%20start%20from%20%24545,000.%20The%2040%20two-bedroom%20offerings%20will%20be%20between%2080%20and%20117%20square%20metres%20internally%20and%20will%20range%20between%20%24639,000%20and%20%24995,000%20in%20price.%20There%20will%20be%2013%20three-bedroom%20units%20of%20between%20102%20and%20125%20square%20metres,%20priced%20between%20%241.11%20million%20and%20%241.27%20million.%20According%20to%20RP%20Data,%2019.7%%20of%20the%20dwelling%20stock%20in%20Brighton%20comprises%20units,%20with%20about%2060%%20detached%20houses.%20The%20median%20unit%20price%20in%20Brighton%20fell%204.8%%20last%20year.%20Architecture%20firm%20Rothelowman%20is%20behind%20the%20striking%20design.%20%E2%80%9C380%20Degrees%20will%20be%20an%20excellent%20addition%20to%20the%20area.%20The%20building%E2%80%99s%20fa%C3%A7ade%20will%20feature%20perforated%20metal%20sliding%20panels%20to%20create%20a%20stylish%20winter%20garden%20effect,%E2%80%9D%20says%20Interiors%20Rothelowman%20associate%20Clementine%20Inglis.%20%20%E2%80%9CSpacious%20balconies%20and%20terraces%20have%20been%20designed%20to%20capture%20indoor%20and%20outdoor%20living,%20whilst%20creating%20a%20sense%20of%20sanctuary%20and%20privacy,%20which%20is%20perfect%20for%20entertaining%20and%20escaping.%20Each%20apartment%E2%80%99s%20interior%20will%20reflect%20minimalist%20style%20with%20a%20sophisticated%20fit%20out%20%E2%80%93%20wide%20floorboards%20and%20modern%20cabinetry%20to%20polished%20fittings%20and%20flush%20surfaces%20throughout%20help%20ensure%20a%20prevailing%20sense%20of%20openness,%20the%20perfect%20elements%20to%20create%20a%20home%20and%20a%20lifestyle.%E2%80%9D" target="_blank">Brighton </a>comprises units, with about 60% detached houses. The median unit price in Brighton fell 4.8% last year.
<img src="/images/stories/380degrees2.jpg">
Architecture firm Rothelowman is behind the striking design.
“380 Degrees will be an excellent addition to the area. The building’s façade will feature perforated metal sliding panels to create a stylish winter garden effect,” says Interiors Rothelowman associate Clementine Inglis.
<img src="/images/stories/380degrees3.jpg">
“Spacious balconies and terraces have been designed to capture indoor and outdoor living, whilst creating a sense of sanctuary and privacy, which is perfect for entertaining and escaping. Each apartment’s interior will reflect minimalist style with a sophisticated fit out – wide floorboards and modern cabinetry to polished fittings and flush surfaces throughout help ensure a prevailing sense of openness, the perfect elements to create a home and a lifestyle.”
 
 
 
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Brighton development 380 Degrees about half-sold two months after launch

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There are some very simple steps which could reduce the cost of Sydney apartments by about $60,000 – from, say, $550,000 to $490,000. Many of the steps also apply to Melbourne. If the steps were taken it would also provide a fantastic boost to the Sydney construction industry, which is now struggling. If we do not take these steps then Chinese buyers will purchase the vast bulk of inner-Sydney apartments. Here are my six steps: 1) In inner-city areas we need to recognise that five-to six-storey apartments are uneconomical. We must change the culture and build apartment blocks with 12 storeys or more. These large apartment blocks are the only solution to the dwelling shortage because outer suburban cottages require too much land and too much infrastructure. Worse still, the home buyers are forced to spend too much money on transport and too much effort is required to go to work and come home. 2) We need to streamline the approval process, which currently can take can take two to three years even when an application complies with all the controls.  3) The state government advisory document called SEPP 65 stipulates strict requirements for the number of units requiring light into the living rooms, which leads to the incorporation of far too many two-storey crossover units. These are not favoured by the market and add enormous cost to a development. 4) The New South Wales Land &amp; Environment Court takes far too long to hear cases and then far too long to hand down decisions. In any event, the majority of decisions seem to be in favour of councils and against developers. It’s a huge burden on the cost to the buyer. 5) Section 94 contributions, which are charged by individual councils, must be fixed at a maximum of $20,000 per apartment and should include all works required by councils and other authorities to the roads and utilities surrounding a development site. These should be payable at occupation of development. 6) Affordable housing levies, where they exist, should be abolished as this is purely a tax on development and the provision of affordable housing is a burden which should be shared by the entire community, not just the development industry. Australian buyers are back in the market but they are being forced to pay unnecessary costs. Lower interest rates will increase Australian buyers but supply is artificially being held back and the costs boosted by state and local governments. Harry Triguboff is managing director of the <a target="_blank" href="https://www.meriton.com.au/">Meriton Group.</a>
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator.</a>
 
 
 
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Harry Triguboff’s six steps to apartment affordability – starting with more high rise

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

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