<html><body>
The fall in house prices in expensive suburbs has been the biggest drag on median values in capital city dwelling markets over the past year, with the trend continuing during April, according to the Rismark RP Data index.



Dwellings in the most expensive capital city suburbs recorded a 5.4% slump over the past year to April 2011.

“The uber-luxury segment is risky and highly illiquid and has the rug whipped from under it via a combination of the soaring Aussie dollar and the volatile share market,” Rismark joint managing director Christopher Joye says.

“Luxury homes in areas like Sydney’s eastern suburbs will continue to face valuation headwinds as banks deal with the new normal of subdued credit growth.”

Joye suggests another fly in the ointment is the much lower growth – and pay packets – expected in the financial services industry.

By contrast, the Rismark RP Data Index found home values in the middle 60% of suburbs were down by 0.9%.

Dwellings in the cheapest 20% of suburbs were the best performers, easing just 0.5%.
<img src="/images/stories/april%20rp%203.jpg">
 
Capital city dwelling markets declined by 0.3% during April, according to seasonally adjusted figures. It was the fourth consecutive month in which a fall was recorded.


The national median dwelling price across Australia stands at $418,000, with a $468,000 median in the eight capital cities.

Sydney dwelling values eased 0.5% (seasonally adjusted) to a $515,000 median in the three months to April.

Perth, Brisbane and Adelaide had the most turbulent three months. Brisbane was the weakest capital city, with values 3.1% (s.a.) to $430,000. Adelaide values slipped 2.3% (s.a.) to a median price of $381,000, and Perth values fell 3% (s.a.) in the past three months to a $468,250 median.

Darwin values eased just 0.2% (s.a.) to $442,250, and Hobart values were down 2.0% (s.a.) to $315,000.

The best-performing capital city was Canberra, with values up 0.8% (s.a.) over the April quarter to $490,000.

The report noted over the three months since the January floods, dwelling values in Australia’s capital cities have tapered by – 1.2% on a seasonally-adjusted basis.

In raw terms, dwelling values have declined by a more modest – 0.2%.

“The difference between the raw and seasonally adjusted results reflects the fact that the housing market typically experiences higher rates of capital growth at the start of each year, which is reflected in the seasonally adjusted data,” Joye says.



“The solid performance of cheap suburbs runs against the grain of popular claims that default rates are rocketing up amongst first-time buyers, which the RBA recently rejected,” RP Data head of research Tim Lawless says.

“The luxury end of the housing market is showing its volatility.
 During the growth phase of the cycle the most expensive homes realised the highest capital gains.
“Yet as the market cools premium home values seem to be losing steam the fastest,” Lawless says. 



Rismark expects at least another one to two rate hikes this year, which will solidify the cooling in residential valuations.

According to Lawless, monthly movements in capital city home values have flattened out after the record-low seasonally-adjusted reading for January which was affected by a range of natural disasters.

“On a month-to-month basis, the January result was the worst on record with capital city dwelling values down –1.2 per cent (seasonally-adjusted).

“Since that time the magnitude of declines has moderated noticeably with average monthly seasonally adjusted falls of –0.4 percent between February and April. 

“Thus far this has been a very controlled exit from the strong growth conditions of 2009 and the first half of 2010,” Lawless says.
</body></html>

cknowlton-QnEa6ntUYP

Prices tumble in top end of town

<html><body>
{yoogallery src=[images/stories/June6Blackett]}
 
6 Blackett Street, North Wollongong
Just 50 metres from the beach, this four-bedroom, five-bathroom house is spread over three levels, all with impressive views. The large backyard features an in-ground pool and entertaining area. The house is being sold by <a target="_blank" title="Colliers" href="https://agents.realestate.com.au/cgi-bin/cs/run.pl?_t=Details&amp;_c=COW&amp;id=107369536">Colliers </a>Wollongong agents Simon Kersten and Michael Henley, with an asking price of $3.5 million plus.
 
{module 238}
</body></html>

Ocean views in Wollongong

<html><body>
Australian property group Stockland is reported to be interested in buying Victoria’s Point Cook Town Centre mall, according to the Australian Financial Review. Developer Lang Walker is reported to be asking about $200 million for the 43,000-square-metre retail precinct 23 kilometres south west of Melbourne’s CBD.
Horses for courses Developer MAB Corporation bought the 21.8-hectare Cranbourne West Equine Hospital site and plans to turn it into a business park, according to a report in The Age. The site, which sold for an estimated $9 million, is in Melbourne’s south-eastern suburbs and is adjacent to the Western Port Highway. The Victorian Government’s planned redevelopment of the Port of Hastings, 30 kilometres from the equine hospital site, could include widening the Western Port Highway to six lanes and is expected to bring commercial and industrial development to the area.
Laneway look-in Bakers Lane, in Brisbane’s Fortitude Valley entertainment precinct, is up for a major revamp under a plan by AMC Developers to transform the laneway into a shopping and dining destination. The plan, which is before Brisbane City Council, calls for the demolition of a significant part of two popular heritage-listed bars in the area, the Bowery and Laruche, to make way for a farmer’s market, The Sydney Morning Herald has reported. AMC submitted the plans in November 2010 as part of Brisbane’s “vibrant laneways and small spaces” initiative.
</body></html>

IN BFIEF: Stockland likely to buy Point Cook centre

<html><body>
Property advisory company Savills has launched a new service for high-end residential property buyers in Western Australia. Project manager Helen Rewell will lead the initiative, which will work with developers and buyers of prestige property. One of the team’s first projects is the B43 on Burswood, a prestige apartment complex developed by Fisel.
Property investments allowed to pay commissions Developer Stockland is allowed to continue paying commissions to its financial planners for referring potential buyers, the Australian Financial Review reports. Assistant Treasurer Bill Shorten announced on Friday that property investments would not be subject to the same bans on commissions that constrain other financial products. Stockland pays commissions to four referral services: My Adviser, Futuro Financial Services, Addwealth and Professional Investment Services.
</body></html>

IN BRIEF: Savills launches new service in WA

<html><body>
Nothing lasts forever, especially buildings, which is great news if you’re in the building industry but not so great if have to pay the bill.
Under Australian tax law a repair is not a simple matter of contacting a carpenter, plumber or builder to come and fix the problem and “Bob’s your uncle”. If you do more than merely repair the item and make improvements along the way, the expenditure is capital in nature and not a tax-deductible expense. There is often a fine line as to whether a job is one or the other.
What is a repair?
According to judicial authority, a repair is the replacement of worn-out parts with new parts in order to restore the item being repaired to its formal level of efficiency without changing its character. According to the Tax Office, “a repair for the most part is occasional and partial”.
With these rules in mind, if you plan to roll up the sleeves and do some repairs, make sure you merely restore the item to its previous condition by replacing any worn-out parts with new parts, and don’t improve its efficiency or change its character along the way. Otherwise the Tax Office could come down on you like a ton of bricks (excuse the pun!).
For example, suppose you decide to replace a couple of rusted galvanised roof sheeting with new ones. Under these circumstances, it’s clearly a repair, as you’re merely replacing worn-out parts with new parts and restoring the efficiency of function of the galvanised roof without changing its character. But if you decide to go the whole hog and replace the entire galvanised roof with terracotta tiles that are more efficient and durable, the expenditure is capital in nature and not tax-deductible. Although you’ve effectively fixed the problem, under tax law you’ve replaced the roof in “its entirety” and changed its original character. But all is not lost! If you can’t claim the expenditure as a repair, you can claim it under the capital works deductions provisions and write it off over a 40-year period at the rate of 2.5% per annum.
Initial repairs
There is a well-established principle under tax law that you can’t claim “initial repairs” Initial repairs are repairs you make to a newly acquired property that you intend to lease. For example, if you decide to spend $25,000 on fixing up faulty plumbing and painting all the faded walls to make your property more attractive to a potential tenant, the expenditure is capital in nature and not tax-deductible. This is because the need to do these repairs did not arise during the time you owned the property. But the good news here is if you can’t claim the expense as a repair, you may qualify for a tax deduction under the capital works provisions.
 
Jimmy B Prince is a tax specialist and author of <a href="https://au.wiley.com/WileyCDA/WileyTitle/productCd-0730375528" target="_blank">Tax for Australians for Dummies and Property &amp; Taxation</a> (Wiley Publishing Australia Pty Ltd)
</body></html>

Is your repair tax-deductible?

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

Joel Robinson

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

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

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

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

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

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

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

Cassidy Knowlton

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News