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Click to enlarge
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Source: APM
"The discounting data is particularly interesting," says Australian Property Monitors research analyst Clinton McNabb.
"It looks as though discounting peak between August and November last year and is gradually dropping again, although the level of discounting is still way above the levels seen two years ago."
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by <a href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/" target="_blank">clicking here</a>.
 
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Home sale price discounting peaked mid-2011, with marked shift to less required discounting in Perth and Brisbane: APM

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Crown Group is set to release the third stage of its popular Top Ryde project, following the sales success of stages one and two.
The third stage, known as ‘Illuvia”, will be released on Saturday, March 17 and will comprise 135 one-, two- and three-bedroom apartments.
Of the first release of 183 apartments, 171 have been sold, and 71 of the 80 <a href="https://www.propertyobserver.com.au/developments/second-off-the-plan-stage-of-crown-s-top-ryde-project-almost-sold-out/2012020753289" target="_blank">apartments in the second release</a> have now been exchanged.
Illuvia apartments will range from $505,000 and $605,000 for 60 one-bedroom units, which will range in size between 54 and 70 square metres. Some have studies. The 67 two-bedroom units range between $595,000 and $920,000 and are between 73 square metres and 123 square metres. There will be eight three-bedroom apartments, ranging in size from 101 square metres to 177 square metres, and they are priced between $930,000 and $1.6 million for the three-bedroom penthouse.
On completion the $500 million complex will consist of 502 apartments across five towers above a shopping centre in North Ryde, 12 kilometres from Sydney CBD.
Each tower is named for one of the elements – water, wood, light, metal and earth. Illuvia is named for water and is designed with a blue colour palette.
“The Illuvia apartments have been thoughtfully designed with spacious living areas, ample storage and well-appointed bathrooms and kitchens,” says Roy Marcellus, head of major project sales and marketing for Crown.
“Each apartment offers its own unique sleek design including open-plan living areas, which flow out to tiled balconies or courtyards seamlessly blending indoor and outdoor living,” he says.
Crown Group chief executive Iwan Sunito says the Illuvia release is the most prestigious to date and expects the latest release to prove just as popular with buyers as the previous two.
“For buyers looking for the ultimate in convenience when it comes to shopping or transport, a luxurious resort style environment to call home and an off-the-plan apartment where they can take advantage of bonuses such as stamp duty concessions, Top Ryde City Living ticks all the boxes,” Sunito says.
Each tower will have a sky garden, a 25-metre infinity-edged swimming pool, viewing platforms, private meditation areas and a barbecue area.
The privately owned company currently has over $2 billion worth of developments in the pipeline.
 
 
 
 
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Crown releases third stage of Top Ryde development with 92% of previous releases sold

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<img src="/images/stories/26per.gif" style="border-style: initial; border-color: initial;">
The percentage of homes that sold at auction in 2011 in Sydney's inner west. This is down from 27% in 2010.
 
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<img src="/images/stories/26per.gif">
The percentage of homes that sold at auction in 2011 in Sydney CBD and eastern suburbs. This is down from 28% in 2010.
 
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 <img src="/images/stories/21per.gif">
The percentage of homes that sold at auction in 2011 in Sydney's lower north suburbs. This is down from 24% in 2010.
 
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<img src="/images/stories/15per.gif">
The percentage of homes that sold at auction in 2011 in Sydney's southern suburbs. This is down from 17% in 2010.
 
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<img src="/images/stories/14per.gif">
The percentage of homes that sold at auction in 2011 in Canterbury and Bankstown. This is down from 17% in 2010.
 
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<img src="/images/stories/13per.gif">
The percentage of homes that sold at auction in 2011 in Sydney's upper north shore. This is down from 15% in 2010.
 
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<img src="/images/stories/10per.gif">
The percentage of homes that sold at auction in 2011 in Sydney's northern beaches. This is down from 12% in 2010.
 
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<img src="/images/stories/6per.gif">
The percentage of homes that sold at auction in 2011 in Sydney's south-western suburbs. This is down from 7% in 2010.
 
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<img src="/images/stories/6per.gif">
The percentage of homes that sold at auction in 2011 in Sydney's western suburbs. This is down from 7% in 2010.
 
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<img src="/images/stories/5per.gif">
The percentage of homes that sold at auction in 2011 on the Central Coast. This is the same as in 2010.
 
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<img src="/images/stories/3per.gif">
The percentage of homes that sold at auction in 2011 in the Blue Mountains. This is down from 4% in 2010.
Source: Australian Property Monitors
 
 
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Fewer Sydney vendors selling by auction: What percentage of homes sold under the hammer? A regional breakdown: APM

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The overall Melbourne market declined 6.1% in December, according to RP Data, but the median house price in Richmond increased 4% during the year, according to Jellis Craig's Annual Property Review.
"From December 2010 quarter to December 2011 quarter median property prices in Richmond increased from $816,000 to $852,000, showing a modest growth at odds with the softening of the market nationally and showing that local variations distinguish the current market," says report author and Jellis Craig Richmond director Clayton Smith, <a target="_blank" href="https://www.propertyobserver.com.au/landlords/block-richmond-properties-hit-the-rental-market-with-yields-of-up-to-6.3/2011092851717">who also auctioned one of the properties for sale on the Channel 9 series The Block</a>.
Smith says, however, that it took longer to sell property during 2011, and that sales volumes were down.
"While we saw some bounce back in values, the volume of properties transacted was significantly  down in 2011, with 103 fewer than in the preceding 12-month period; particularly in the $1 million plus price bracket. The number of average days on market increased slightly from 28 to 34 compared with the previous year."
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/richcomment1.jpg"><img src="/images/stories/richcomment1thumb.jpg"></a>
Source: <a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a> Annual Property Review
"The two interest rate reductions by December 2011 produced an immediate response from buyers, with more vigorous bidding competition at our auctions and producing some exciting results well beyond expectations.
"Although new home lending has been down, lending for existing properties has been trending upwards, and evidence suggests that borrowers remain more than able to service loan repayments and that many potential buyers have access to a house deposit."
Smith is optimistic for the Richmond market in 2012.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/richcomment2.jpg"><img src="/images/stories/richcomment2thumb.jpg"></a>
Source: <a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a> Annual Property Review
"The current market balance could be tilted by any additional reductions as buyers tired of waiting for what might be considered ‘the right moment’ enter the market. This could potentially tip the scales slightly in favour of sellers when friendlier interest rates meet pent-up demand," he says.
"The year has begun on a positive note with both buyers and potential sellers making contact with the office early in January, signalling their intention to transact this year."
 
 
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Richmond property prices defied downturn in 2011: Jellis Craig

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8/447 Sydney Road, Balgowlah, NSW, 2093
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/sydneyrd.jpg"> 
With tenants paying the "fantastic rent" of $550 per week, this two-bedroom apartment in the Sydney northern beaches suburb of Balgowlah could be a good prospect for investors. Ray White agent Mark Griffiths says although the tenants of two years are on an expired lease, their rent was reviewed recently and ithe tenants are paying considerably above average rent for the block. The median asking rent for Balgowlah units is $500 per week, according RP Data.
Griffiths <a target="_blank" href="https://www.raywhite.com/nsw/balgowlah/745945/">is marketing the property</a> with price hopes of $410,000. If it sells for $410,000, that would secure an investor a gross rental yield of 7%, far higher than the indicative gross rental yield of 4.2% for Balgowlah 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 $8,000 and over five years to be $28,000.
The median unit price for Balgowlah fell by 12.5% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 10 at 2pm and will go to auction on Saturday, March 24 at 2.30pm.
For more about prices and yields in Balgowlah, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
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10/16 Pascoe Street, Pascoe Vale, VIC, 3044
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/pascoest.jpg"> 
This two-bedroom Pascoe Vale townhouse is tenanted until January 2013 at $18,720 per year, so it might be a good prospect for investors. Raine &amp; Horne agent Sebastian Rello <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/205665">is marketing the property</a> with price hopes of $380,000 plus, and if it sells at $380,000 that would secure an investor a gross rental yield of 4.9%, far higher than the indicative gross rental yield for Pascoe Vale houses of 3.3%, according 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 $9,000 and over five years to be $32,000.
The median unit price for Pascoe Vale houses fell by 5.1% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 10 at 11am and will go to auction on Wednesday, March 31 at 2.30pm.
For more about prices and yields in Pascoe Vale, see the RP Data suburb page.
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Friday form guide: Yields of up to 7% in Balgowlah

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Australian women make great entrepreneurs. That’s not just an idle opinion – recent research revealed that Aussie women are <a target="_blank" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/innovation/aussie-women-the-worlds-most-entrepreneurial-report/201202235480">second only to their American counterparts</a> when it comes to starting businesses. 
But while plenty of women are launching their own businesses, there are some areas that are still deemed off-limits. 
Go to any gathering of tech, finance or manufacturing businesses, and you’ll do well to spot a female founder. 
Orsi Parkanyi, founder of networking group Women as Entrepreneurs, says: “Being a woman is not easy. Being a woman in a man's world is not easy either.” 
“But the most challenging of all is staying a woman in the men's world. I'd like to hope that women are not required to take on stereotypical male attributes in order to be successful, however, this is something I have been noticing we tend to do.” 
“Women who focus on their strengths and utilise traditional female traits such as strong interpersonal skills, networking skills and empathy to their advantage will have a good chance to stand out, be noticed and succeed.” 
“Finding mentors and seeking out influential social networks also a great way to get the support and encouragement women need from time to time.” 
Here, to mark International Women’s Day, are 10 of the best Aussie entrepreneurs who have overcome the gender hurdle. 
<h2></h2>
1. Cathy Edwards - Chomp
Cathy Edwards is the co-founder of app search start-up Chomp, which was recently <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/sell-a-business/apple-acquires-aussie-start-up-chomp-for-%24us50-million/201202275510">acquired by Apple for around $US50 million</a>. 
Prior to Chomp, Edwards led mobile product development at Friendster, and launched a converged SMS-IM mobile messaging product while at 3jam. She has also worked for Telstra.
“When building your start-up, it is important to focus your limited resources on components where you can add a significant amount of value,” Edwards told Women 2.0.
“Work out what technology will be core to your business, and find existing or outsourced solutions for everything else.” 
“From your very first hire, learn to hire engineers you trust and respect… You’ll be a lot less stressed out than if you’re the bottleneck for everything.” 
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2. Nicole Kersh - 4Cabling 
Like many start-ups, 4Cabling was spawned from frustration with the status quo. While working at her parents’ electrical cabling company, Nicole Kersh found that getting prices from suppliers was a long and inefficient process. 
Realising that there was a lack of online cabling providers, Kersh took the plunge and started 4Cabling in 2006. The business has since boomed, pulling in more than $3 million revenue last year. 
However, Kersh has had to deal with outdated attitudes over both her age and gender, in what is traditionally a male-only sector. 
She says: “When I first started, none of my suppliers would take me seriously, it was very discouraging. But it made me realise the importance of building solid relationships.” 
“Customers still look at me sometimes and say, ‘I want the boss.’ I just go and find the oldest male employee. It’s a very male-dominated industry and people can’t comprehend I’m the boss.” 
“If they like the product, the notion of who runs the business doesn’t bother me.” 
<h2></h2>
3. Cherie Barber - <a target="_blank" href="https://www.renovatingforprofit.com.au/">Renovating For Profit</a>
<img src="/images/stories/cheriebarber.jpg" style="float: left; margin: 5px;">
After completing her first house renovation, Cherie Barber decided to ditch her career as a marketing executive to throw herself into the construction industry.
In the first year of her renovating career, Barber achieved a profit of $1.15 million after buying, overhauling and selling six properties worth a combined $6.3 million.
Her status as a rare female entrepreneur in a male-dominated sector has seen her courted by the media as a renovation expert.
In 2009, Berber launched Renovating For Profit, which sells workshops and courses to Australians looking to revamp their own homes.
Despite her success, gender-related challenges linger for Barber, as she explains: “Tradesmen try to give me ridiculously high quotes. I say that I know what things cost and if they're going to give me a ridiculous price, not to waste my time.”
“I ask for their opinion, throw out open-ended questions and do my research that way. If you look like you don't know what you're talking about, you'll get charged more.”
4. Sonja Bernhardt - Thoughtware
In addition to being the founder and chief executive of software company Thoughtware, Sonja Bernhardt also founded Women in Technology and Australian Women in IT and Science. 
Last year, she was honoured for her contribution to the industry with a Medal of the Order of Australia, and has been inducted into the Women in Technology Hall of Fame in Silicon Valley. 
Bernhardt believes most challenges can be overcome regardless of gender through rational thinking, having a healthy ego, and determination to “keep getting up and moving on”. 
“Technology is a career where your ideas and creations may end up creating a wave of change around the world or having a vast impact on a small community,” she says. 
“[However,] it takes you, your ideas and passion to make it happen. In any career, it is important to be involved in areas that [speak] to who you are, your style, your interests, your philosophy.”
5. Rebekah Campbell - Posse 
Becoming the manager of a leading band is rare enough among women, but even fewer have then switched careers to become a high-flying tech entrepreneur. 
Rebekah Campbell has <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/start-up-profiles/posse/201109213954">defied the odds to launch Posse</a>, an online platform that allows bands to offer rewards, such as tickets or backstage access, to fans that undertake various tasks, such as increasing the artist’s Facebook ‘Likes’. 
Although the promotions-based site is little over a year old, it has sparked high-level interest both in Australia and overseas. Google Maps founder Lars Rasmussen is an advisor and has predicted a big future for Posse. 
Campbell says: “(Starting up) was a long and tricky process, and it probably aged me by 10 years, but I learnt so much along the way.” 
“As a non-techie, I could identify clearly the problem that needed to be solved. A lot of tech companies can’t do that. But I needed to surround myself with the right people.” 
“I realised that the difference between a superstar tech team and a good tech team is the difference between Facebook and a shipwreck.” 
6. Catherine Prosser - StageBitz 
Having founded Canberra-based theatre software company Production Genie, Catherine Prosser was well aware of the rigors of starting a tech business. 
But that didn’t stop her from seizing the opportunity to launch another business, StageBitz, when the opportunity presented itself. 
StageBitz is a cloud-based web app that helps stage, film and TV production professionals easily manage their props and connect with others. 
Sydney seed fund Pollenizer liked the idea so much that it has backed Prosser, while Mat Lawrence, head of props at Opera Australia, is a co-founder. 
“Most of the time, people don’t think that a product like this exists, Prosser <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/start-up-profiles/stagebitz/201106273033?displaypage=start">told StartupSmart last year</a>. 
“We’re not doing a new type of an existing product – it’s a brand new thing. It’s not so much brand awareness but solution awareness, if you like, so that’s the biggest challenge.”
7. Kylie Gentle - Design Experts
As the co-founder of Design Experts, Kylie Gentle was recently named a nominee for Young Entrepreneur of the Year in the Asia Pacific Business Excellence Awards. 
Prior to Design Experts, which Kylie co-founded with her husband Tim, she worked as a housekeeper and cook on an outback cattle station. 
With long days and lots of time to spare, the Gentles began to build websites for local communities, which is how Design Experts was born. 
“[In regional areas], you’re dealing with a certain demographic that doesn’t necessarily want to deal with a woman,” Kylie says. 
“I’ve had to bite my tongue, regarding what I would normally say, and think about how I deliver my message.” 
8. Dale Burke - What Scratch? 
Dale Burke co-founded automotive scratch repair business What Scratch? with her husband Matthew. Last year, the business appeared in the StartupSmart Awards top 50. 
Dale says it’s her name that has proved to be the most eye-opening aspect of being female in a male-dominated industry, particularly when people speak to her for the first time over the phone.
“They’re expecting to call a man – it’s a male-dominated industry and I’ve got a male-sounding name, so I get some very interesting reactions when I say, ‘This is Dale speaking’,” she says. 
“I’ve had people hang up on me or say, ‘The ad said if I call this number, I would be speaking to the franchisee’. I have to explain that I am the franchisee.” 
“Usually, I just make a joke about it and start talking about the business. After a few sentences, they realise I know what I’m talking about. I have to win them over, I suppose.”
9. Lauren Staley - <a target="_blank" href="https://www.infolio.com.au/">Infolio</a>
<img src="/images/stories/laurenstaley.jpg" style="float: left; margin: 5px;">
Shaking up an industry that can be both resistant to change and male-centric is a challenge that Lauren Staley has not shied away from. 
Following a lengthy career in real estate, Staley realised there was a gap in the market for an end-to-end service that looked after the interests of all the parties involved in property transactions. 
She founded Melbourne-based buyers advocacy and property management company Infolio in 2008, also branching out into auction bidding, property negotiation and renovation guidance. Infolio is now making significant headway in the property market. 
Launching just before the GFC was a chastening experience for Staley, but it allowed her to remodel the business from the ground up, aiding its future growth. 
“I think it’s better to start from humble beginnings,” she says. 
“It gives you more focus. When the GFC hit, it was a humbling experience. We prospered because we had to be resilient and not spend money that didn’t make us money.” 
10. Caroline Robinson - Wheatbelt Business Network 
Caroline Robinson lives in Woolocutty, a tiny town in the middle of WA, and is the founder of the Wheatbelt Business Network, established to promote the services of local businesses. 
The WBN also provides opportunities for entrepreneurship and networking, training and education, and the advancement of women in business. 
“I’ve always run my community development and project management business as much as I can using online tools, email and Skype, rather than travel five hours for a one-hour meeting,” she says. 
Robinson also highlights the value of having a support network to draw on, including a director’s course she attended, in addition to the Rural Industries Research and Development Corporation. 
“I know I can ring and ask any of the women I was with [during the course] or the RIRDC alumni for advice on a problem,” she says.
This article originally appeared on<a href="https://www.startupsmart.com.au/" target="_blank"> StartupSmart.</a>
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Two property entrepreneurs in StartupSmart's top 10 gender barrier-breaking female entrepreneurs

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There's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Brisbane properties in round three of the competition is 83 Agnes Street, Auchenflower, which is being marketed by Bartholomeusz Kirwan Real Estate.
Brisbane properties have been slow out of the gate in the competition, with<a href="https://www.propertyobserver.com.au/auctions/sydney-and-melbourne-properties-fall-well-short-of-expectations-in-round-two-of-auction-tipping/2012030453675" target="_blank"> four out of the five properties passed in </a>during <a href="https://www.propertyobserver.com.au/auctions/stark-contrast-between-brisbane-and-other-capitals-in-round-one-of-auction-tipping/2012022653556" target="_blank">both previous rounds</a>.
"In Brisbane this Saturday 83 Agnes Street, Auchenflower will go under the hammer for the first time since 1998, when it sold for $46,000," says Mark Armstrong of Property Tycoon. 
"The four-bedroom family home is in original condition and sits on a healthy 663-square-metre block of land. Comparable sales suggest it will sell for between $700,00 to $800,000 this time around."
<img src="/images/stories/agnes.jpg">
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
 
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Brisbane weekend auction tipping

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There's now a tipping website, <a style="font-size: 14px; text-align: left;" href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties going to auction in round three this week is <a href="https://www.realestate.com.au/property-apartment-vic-richmond-109588176" target="_blank">5/12 Howard Street, Richmond</a>, which will be auctioned by Biggin &amp; Scott. The auctioneer will be hoping for a stronger weekend than last weekend, <a target="_blank" href="https://www.propertyobserver.com.au/auctions/sydney-and-melbourne-properties-fall-well-short-of-expectations-in-round-two-of-auction-tipping/2012030453675">when three of the five properties featured in the tipping competition were passed in</a>.
"The property, which has an open plan feel with a larger than normal entertaining balcony, has been well inspected during the campaign," says Mark Armstrong from Property Tycoon.
<img src="/images/stories/howardst.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a>.
 
 
 
 
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Melbourne weekend auction tipping

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The Hermitage, a master-planned community in the brand-new Sydney suburb of Gledswood Hills, has attracted considerable buyer interest, with 28 of the first 59 lots in the first release sold just days after the project's official early March launch. Pre-sales began in early January.
<img src="/images/stories/hermitage.jpg"> 
Developer Sekisui House is behind the 260-hectare development, which is the Japanese company’s first Australian master-planned community.
The first release is called Hardy’s Rise and comprises lots ranging from 400 square metres to 700 square metres. Prices for the lots begin at $215,000, and house-and-land packages begin from $450,000.
Hardy’s Rise is named after visionary Australian architect, artist and author Hardy Wilson, born in Campbelltown.
In 1920 Hardy published an illustrated history of the local area called The Cowpasture Road, which featured Gledswood Homestead and its garden, which stimulated a revival of interest in the simpler forms of architecture of the early years of the colony.
Set on about 50 hectares, The Hermitage will include more than 10 kilometres of bike and walking paths. A 27-hole golf course is also proposed.
<img src="/images/stories/hermitage1.jpg">
The development is set to make use of the Japanese concept of “satoyama", which means the preservation of the environment while encouraging human interaction.
“The Hermitage features a central three kilometre green corridor that aims to attract an array of recreation activities, such as dog walking, cycling and weekend family barbecues,” says Craig D’Costa, Sekisui House senior development manager.
<img src="/images/stories/hermitage2.jpg"> 
Sekisui House’s other Australian projects in Sydney include The Waterfront at Wentworth Point and Central Park, in partnership with Frasers, in Chippendale.
Gledswood Hills is about 55 kilometres south-west of Sydney, and it is named for nearby convict-built mansion and winery The Gledswood Homestead and Winery.
“Gledswood Hills has been a welcomed addition to the south-west corridor, an area that is set to boom in the coming years. The Hermitage will be the focal point of this blossoming new suburb,” D’Costa says.
 
 
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Environmentally minded buyers snap up Sekisui's western Sydney project The Hermitage, perhaps drawn by satoyama

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There's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Sydney properties in round three of the competition is <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-crows+nest-109546371">22 Devonshire Street, Crows Nest</a>. Its Ray White agent will be hoping for a price of more than $1.1 million. 
"Rich Harvey from Property Buyer in Sydney likes the property at 22 Devonshire Street in Crows Nest because of its gorgeous quiet street within close proximity to Crows Nest shops, eateries and easy access to CBD," says Mark Armstrong of Property Tycoon.


"The median value of houses has been growing by around 5.5% over the last 5 years. This property needs to sell for over $1.2 million if it was to keep pace with this trend, given it last sold in 2001 for $700,000."
<img src="/images/stories/devonshire.jpg">
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
 
 
 
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Sydney weekend auction tipping

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

Joel Robinson

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

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

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

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

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

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

Cassidy Knowlton

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