<html><body>
A development site in East Perth is to get under the hammer at public auction in May with Knight Frank, and it looks set to gather developer interest offering the possibility of unit or townhouse properties.
Sitting on 2,401 square metres, the 44-46 Joel Terrace property is zoned Residential R60 and would see interested developers able to build with river views.
It appears there was an attempt previously to develop the plot, which is in the City of Vincent area, with August 2013 council meeting minutes noting their reconsideration of a proposal to demolish the building on the site and create a 31 apartment, five-storey, project with basement carpark from TPG and James Christou Design Group.
The council, at this time, required more detail. However, it did appear as if the development was looked upon favourably.
Near to parks, river foreshore reserves and a proposed redevelopment of the East Perth Power Station into a mixed-use site, Knight Frank managing director – WA John Corbett, said that this is a unique opportunity.
“The MRA plans to develop the 8.5 hectare power station site to create a unique mix of community and lifestyle opportunities that will activate this part of East Perth as a vibrant and pedestrian-friendly area,” Corbett said.
The site appears to form part of an already established residential precinct, said Knight Frank associate director Todd Schaffer.
“It is possible to walk or bike to the CBD centre along the river foreshore in less than 10 minutes,” Schaffer said.
“Increasingly this is attractive for young professionals and people who work in the city that want convenient access as well as attractive lifestyle amenities.”
Local and national developers are expected to show interest.
</body></html>

jduke-EHk3XBmHkn

East Perth Riverview site open for local and national developer interest

<html><body>
There are mixed signals coming from the market, with some facts in isolation perhaps suggesting that there could be a rise from the Reserve Bank in coming months.
However the overall picture is one that demands a stable rate, according to HSBC Australia and New Zealand chief economist Paul Bloxham.
Bloxham’s latest market report The RBA Observer, discussed a mixed bag of indicators. On the one hand, local activity indicators showing growth, such as GDP picking up pace in the last quarter of 2013, strong consumption and exports, retail sales at their fastest rate since 2010, are suggesting that rates could see a lift.
This is further supported by a strong housing market that Bloxham notes “continues to boom” and strong forward-indicators of residential construction.
Looked at in isolation, many would be suspecting an increase on Tuesday.
“These facts alone might suggest that the current very low cash rate may not be the appropriate monetary policy setting and that rates should be lifted soon. But two key caveats remain,” Bloxham explained.
<blockquote>
Looked at in isolation, many would be suspecting an increase on Tuesday.
</blockquote>
The labour market still struggles – unemployment is currently at its highest rate in 10 and a half years – and mining investment is set to fall further.
While Bloxham avoids doomsdaying about the labour market, noting that they are “more sanguine than many other commentators” on both these issues, they still do not expect the RBA to move due to the factors.
“We see the labour market as merely lagging the pick-up in activity that has already begun,” he said.
“We have long been arguing that as the economy shifts to being more driven by the non-mining sectors, employment growth should lift. After all, that is where most of the jobs are! The mining sector employs only a small number of people. This month brought support for our view with strong employment numbers in February.”
He noted that he believes the next RBA move will be as a result of two key focuses – inflation and jobs.
“We expect the RBA to be on hold for the next few months, but for rates to rise before year-end,” he said.
</body></html>

Paul Bloxham expects RBA to keep rates on hold next week

<html><body>
Trends shaping the property market are a fascination for anyone looking to find the next area to see capital growth, or to predict where demand may lie.
Interestingly enough, it’s not the ‘ageing’ population that has demographer Mark McCrindle’s interest – but ‘downageing’.
This is a concept where people live the typical lives of those that would usually be younger and is what McCrindle says is the next cultural trend to shape the country, interstate migration and the property markets.
While McCrindle doesn’t necessarily mean that we’ll see those in their 50s turn to a lifestyle of two minute noodles and two minute relationships, he does suggest that we’ll see Australians retire later in their lives, working into their 70s, and moving into areas that have better employment opportunities. This may go some way to debunking the tree-change, sea-change culture that is the commonly expected next shift of the ageing population.
Presenting the trend to the Urban Development Institute’s National Congress in Brisbane, he announced that the property sector needs to rapidly change to react and accommodate to the downagers.
“Because we are, overall, living longer, we recognise the financial need to also work for more years and set ourselves up better from the start,” he said.
McCrindle’s own research, in conjunction with Australian Bureau of Statistics data, saw Australians working longer and also moving more frequently across the country.
“The states with the highest population growth rates WA, ACT and QLD (3.4%, 2.2% and 2.0% respectively) are also the states with the nation’s lowest unemployment rates 5.9%, 3.4% and 6.2%,” he said.
However, downageing is across market sectors and age groups.
“As a direct result of the downageing pattern, young Australians are less inclined to rush into employment or marriage, choosing instead to expand their tertiary education and save money whilst living at home with family members,” he said.
These delays in achieving ‘traditional’ milestones, such as starting a family or getting a job, is causing more mobility across communities, he said, noting this means that transient populations are more common.
</body></html>

The new trend shaping Australia’s property market: Demographer

<html><body>
The recent Australian Bureau of Statistics’ demographic information release has been picking up by the Housing Institute of Australia (HIA), who explained that it pointed to a strong and ongoing demand for housing.
With Australia’s population ticking upwards, by 100,000 people in the September quarter of 2013, cites HIA economist Geordan Murray, the new total is 23.24 million. “The result provides annual growth of a relatively strong 1.8 per cent,” said Murray.
In the year lead up to September, the birth minus death rate, also referred to as the natural population increase, increased the population by more than 164,000 people, to the tune of 2.9% growth and a 0.7% overall annual population growth addition.
“We have a situation where the importance of migration in securing the nation's future economic prosperity is widely, and appropriately, acknowledged. It is vital that the implications of stronger population growth for housing demand are reflected in a clear and strategic focus on housing supply policy from all levels of government,” he continued.
Net overseas migration also increased by 1% in the year to September 2013.
Population growth and the relationship with housing is a keenly discussed factor in Australia’s future. Observer <a href="/expert-insights/investing/long-term-population-growth-forecast-makes-australia-a-sensible-investment">Pete Wargent recently pointed to this aspect as the reason why Australian property is attractive to invest in</a>.
“It's often said that where a population does not grow then GDP growth may likely stall, in part because Australia, like many developed nations, has an ageing population,” he explains of the dynamic.
Criticism has also been levelled at government bodies in the past for not planning ahead for population growth, and the <a href="/expert-insights/investing/our-politicians-are-ignoring-the-realities-of-population-growth">HIA’s comments have been cited by Robert Simeon in regards to this</a> back in December
The Urban Development Institute of Australia is <a href="/news/better-planning-critical-for-projected-population-growth-udia">suggesting more land releases and a closer look at policy</a>.
</body></html>

Demographic statistics from the ABS point to housing demand: HIA

<html><body>
Vision by Halcyon, developed by over-50s lifestyle community developer Halcyon, is a $60 million approach to take advantage of the market that saw the Halcyon Waters development sell out.
Located at Hope Island this new project will include a 52-berth marina and a number of waterfront dwellings with eight-star energy ratings.
<a href="https://www.lifebeginsathalcyon.com.au/halcyon-vision/" target="_blank">Vision by Halcyon</a> will include a lifestyle and aquatic precinct that will feature health and well-being facilities including a leisure club, fitness centre, pool, spa, yoga room, media and massage room, kitchen, dining facilities, lounge area, a floating boat house with boat storage and multiple other spaces.
Bevan Geissmann, the joint managing director for Halcyon, and business partner Paul Melville, launched the site following the completion of Halcyon Waters – a 227 site development.
“The success of Halcyon Waters has proved that we have a sought after product in a wonderful location that meets the increasingly sophisticated needs of the over 50s buyer,” said Geissmann.
“Halcyon Waters final home was the flagship Paragon residence which sold off the plan for more than $1.1 million.”
The local council have expressed their approval, with Hope Island Councilor and city planning chair Cameron Caldwell referring to the developers as “great visionaries”. “It’s certainly a market that needs to be addressed as our population ages, and we wish them well,” Caldwell said.
This month will see the first of four stages begin construction. Interest is expected initially from locals and downsizers, however he does believe that 40% of the buyers will be from other areas in Queensland and from interstate locations.
The first release will be 21 properties, including waterfront and non-waterfront, and single, double and split-level layout offerings.
Properties start at $555,000 and climb to $1.25 million. Upon purchase, a fixed weekly fee indexed to CPI is charged covering all running and management costs as well as water/rate charges. They are advertised with no rentals, no stamp duty and no exit fees.
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>. 
</body></html>

Gold Coast's $60 million Vision by Halcyon targeting over-50 downsizers

<html><body>
Fifty-six year old Carlo Cini of Melbourne’s Altona North pleaded guilty today in the Melbourne Magistrates Court, relating to his conduct as director of C Cini &amp; Company Pty Ltd.
The Williamstown-based company is now in liquidation, however it raised $1 million from seven investors between 2007 and 2008 by representing to the individuals that the funds would be used for a property development. In fact, the funds were then used for other company-related expenses and Cini’s personal payments.
Cini has pleaded guilty to 22 offences following an ASIC investigation, including that he obtained a financial advantage for his company by evading debts due to investors. He had issued valueless cheques to the tune of more than $700,000.
The offences included 10 counts of obtaining property by deception, and 11 counts of obtaining a financial advantage by deception.
Another charge included an investor agreeing to lend funds to Cini’s company, due to his reckless statements.
Alternative charges were withdrawn by prosecutors due to his decision to enter into the guilty plea. Back when he was charged in June 2013 he faced 58 alleged offences, included <a href="/news/former-melbourne-property-developer-carlo-cini-charged-with-58-offences">25 counts of being dishonest in the position of director</a>.
He was conditionally bailed, and will appear before the County Court of Victoria for his plea hearing in July.
Liquadator Paul Burness, of Worrells, said following his appointment in 2008 that there appeared to be “significant deficiency” between Cini’s assets ($780,000) and liabilities ($3.5 million) and called it possibly “a classic case of a Ponzi scheme” in comments given to the Hobson Bay Leader.
Burness said at the time there were 37 creditors owed $3.8 million. Many were local Williamstown residents.
Cini, a former Westpac branch manager, claimed there were only about 18 investors.
Wilckens Roche Lawyers in a December 2008 newsletter said that they had been approached by a "steady flow" of victims but that by then very little could be done.
</body></html>

Melbourne man guilty of deception over $1 million of funds raised from seven property investors

<html><body>
Change is underway in Millers Point as 293 properties, currently public housing supply stock for 400 residents, are being sold off to make way for private investors and buyers to snap up the offerings. While this makes sense, when looking at the blunt numbers provided by the government, it has pulled at the heartstrings of many causing a debate that's painful to read.
I've been known to use the phrase "investing is about the numbers" multiple times, and stand by it. However, property is unique as a financial choice in that it affects culture and the living conditions of those around the country.
Underestimating the role of a home in continuing family heritage and providing values is far too easy. Regularly, I see listings and stories of homes that have been in a family for decades that, upon a relative's death, are up for auction. They're regularly presented as a "once in a lifetime opportunity" and are often some of the most stunning homes. My heart aches for those that have to sell their history and memories with them. But at least this is, largely, a choice.
For those in public housing in Millers Point there is no choice, and they certainly do not appear to be going without a fight - there was a rally today at 11am, for instance. Sadly, with little of their own assets to boast of and clearly no written-down formalised rights to stay in these properties - what more can they do?
Minister for Family and Community Services, Pru Goward, publicly put out a statement regarding the high value property assets on Sydney Harbour's foreshore, that is those at Millers Point, and the subsequent reinvestment of the proceeds into social housing across the state. This logic truly cannot be argued with. The <a href="/news">values in Millers Point have terrifyingly increased</a> over the past years, as you can see in the suburb data here, and so it makes economical sense that 293 properties across Millers Point, Gloucester Street and the Sirius building in The Rocks were focused on for a sale.
Goward pointed to the high cost of maintenance and investment required to improve them to an 'acceptable standard' as part of the reasoning. "Maintenance on properties in Millers Point costs more than four times the average for public housing dwellings in NSW.  In the last two years alone, nearly $7 million has been spent maintaining this small number of properties.  That money could have been better spent on building more social housing, or investing in the maintenance of public housing properties across the state,” Goward was cited as saying in the release. "When the previous Government began selling off public housing in Millers Point in 2008 it let other properties here fall into disrepair. That has now left us with repair bills as high as $800,000 to restore some of these terrace houses to heritage standard."
Having jumped on to the New South Wales waiting list to have a look at what public housing contestants, because really that's what it feels like, have to deal with - I was stunned. <a href="https://www.housingpathways.nsw.gov.au/How+to+Apply/Expected+Waiting+Times/Sydney+South+Eastern+Sydney+and+Northern+Sydney.htm%20" target="_blank">Many areas have little remaining for certain housing stock with less than a five year waiting period</a>. Some are waiting for even longer.
Goward points to 57,000 families on the waiting list across the state - a terrifying proposition for anyone looking to get housing soon. It must also be nerve wracking to read of the state of public housing, with the ABC reporting last year that the list of those waiting could grow by 30,000 people in three years unless changes are made to a number of aspects of the system.
Goward continued with citing the numbers of the costs of holding these properties. However, this is where the picture becomes more interesting. “Subsidies to tenants in the last year alone reached $8.89 million, with individual tenants receiving subsidies as high as $44,000 per annum.  This compares to subsidies of $8,000 per year in Campbelltown, $7,000 in Gosford, and $11,000 in Wollongong.  For every subsidised tenancy in Millers Point, the Government could assist five tenants in Warrawong, or 3.5 tenants in Newcastle or Minto," she noted.
A blog post from Brown Couch, the voice of the Tenants Union of New South Wales, sheds light on another aspect to these numbers. They explain that these figures should be looked at as an accounting entry, rather than actual money spent.
The figure is created as the difference between market rent for the property, as assessed by the NSW Land and Housing Corporation, and the rent paid by the tenant, rebated according to the usual rules. "The market rent for a property does not reflect the cost to the NSW State Government of providing housing or related services at the property. The market rent for a property can go up – and hence the 'subsidy' go up – without any change in the housing being provided at the property, or in Housing NSW's costs," the blog post explains.
"It is important to note too how much tenants have paid towards that real cost of housing. There are 409 social housing tenancies in the properties at Millers Point and The Rocks. We understand the average income-related rent paid is about $100 per week, so, over the past two years, tenants have paid about $4.25 million in rent – in other words, not quite two-thirds of the repair bill."
How this then works out on the books looking further is, as such, uncertain.
As an editor with a budget to manage, and as an everyday resident who has my own personal budgets and targets to maintain, it's logical to find the supposed drain, put a stop to it and move funds into an avenue where they will be more effective. That this makes financial sense is clear to me, despite the welcomed debate of the finer points - and the TUNSW does raise some important points. The simple situation, however, is that these are now lucrative financial assets that can be sold to funnel money back into creating more properties for those on the seemingly endless waiting list.
Goward expressed her acknowledgement that many tenants have lived in this housing for a long period of time, and the difficulties they may face moving elsewhere, but expressed her belief that this was the right decision and that a relocations team would assist the current tenants, including covering costs of moving and reconnection fees.
The fact remains that without ownership of these assets, the tenants do not have rights to them. That is how the property world works at present. Just as a tenant in a privately owned rental in the mainstream market does not have the ability to force a landlord to allow them to retain their tenancy and not to sell the home or let a different tenant live there, a public housing tenant also does not have these rights.
A letter written to the Sydney Morning Herald, shared by the TUNSW's Brown Couch blog, discussed the culture of the area.
"I grew up in a terrace in Lower fort street and my mum still lives there as she has done so for 40 years, laboriously maintaining and restoring her home (largely herself). Even if she is forced to move away, that house will always be our family home and the fact that she doesn't own it does not make that connection or the emotional distress any less valid," the letter is quoted as saying.
It notes that the letter received by her mother said that attempts would be made to relocate her close to her family and friends.
It is likely that this isn't the end. The Herald also recently reported that Glebe, Redfern and Kirribilli are the next sites that could face similar treatment.
Just yesterday, State MP Alex Greenwich slammed the decision as a form of 'social cleansing', and I have read references from a number of different individuals who declare she's ruining the culture on purpose for the property bigwigs in Millers Point and other city locations. These claims are currently unfounded, and when looking at the pure mathematics it makes sense to direct funds where they can have the biggest benefit for the greatest number of people. Of course this isn't just about maths. However, sadly, providing roofs over the heads of the needy at some point needs to trump the heart-wrenching, and they are truly hard to read, discussions of individuals' connections to an area. It's a situation that is tearing many in two as the best decision is argued out - progress and the situation of the masses versus culture and the individual stories of those residents, and it's certain that someone was always going to leave the debate unhappy. But we need to remember that there are the stories of 57,000 or so others on the waiting list that are likely to be just as awful to read.
</body></html>

Letter from the editor: Public housing sell-off a painful debate

<html><body>
Housing costs are the second highest factor influencing the cost of living for consumers, with the ‘cost of living’ factor itself remaining the top item on the NAB Consumer Anxiety Index.
Consumer anxiety was specifically higher for those who live in New South Wales or the ACT, lived in rural or bush areas and earned between $35,000 to $50,000.
Housing costs were cited as the second influential factor on living costs after utility costs. Transport costs, health and medical costs, education costs, financial commitments and food costs were listed as other factors.
Despite cost of living still topping the list, this is an improvement on the last quarter of 2013. Even so, nearly one third of respondents rated this with ‘high’ anxiety, while just one in seven responded with ‘very low’.
In New South Wales, Victoria, Queensland and ACT, however, it was utilities that were cited as the worst factor. In South Australia, Northern Territory and Tasmania, housing costs topped the list. In Western Australia, food costs was seen as the most negative factor.
Job security concerns were also seen the grow, with 37% rating job security anxiety ‘medium’ or ‘high’, up from 2013’s last quarter result of 33%. This evened out with 36.5% rating it ‘very low’. This has seen the balance tip, with 40% in the last survey pointing to ‘very low’ anxiety around job security.
</body></html>

Housing costs high on the list of consumer anxiety concerns

<html><body>
Deciding to make the plunge into home ownership can have many considering whether they’d be more secure buying or renting. There are certainly pros and cons to both.
Entry and exit costs
If you’re going to buy a property, you’re looking at paying some hefty entrance costs, and exit costs if you decide to sell. Consider stamp duty, conveyancing fees, building and pest inspections and all the other smaller costs that make up the purchasing journey and you’ll find yourself at an eye watering sum – not to mention removalist fees. When looking to rent, or move to a new rental, you’ll usually be looking at just the removalist costs, and the bond. This upfront cost can have many put off from the get-go, and certainly if you’re going to buy a property you’ll want to make sure you don’t intend to sell it again quickly.
Risk and gain
Purchasing a home can be a wise investment if undertaken wisely. Unlike those who do not own their homes, you have the potential to achieve capital gains by holding on to an asset. However, you also run the risk of the property dropping in value. While a renter is not in any debt from their home, you will be facing interest and, usually, an amount of debt for a period of time – this ensures there is a level of risk when owning a property.
Maintenance
As a renter, you don’t need to pay when things break from age or from need of upkeep. Certainly, any damage that you do will need to come from your own funds, but by and large the landlord will pay to keep things in working order. As a home owner, this becomes entirely your problem.
Despite this, you’ll find that the maintenance you undertake benefits you directly and you can get things fixed at your own convenience at your own home. As a renter, you largely rely on the accessibility of your landlord to undertake repairs and organise and fixes.
Improvements
As a tenant, you can certainly ask for, or offer to install, certain things to a property. For instance, fly screens and air conditioning are regularly asked for additions. However, the landlord doesn’t necessarily have to agree to your request. And, you may find yourself either covering the cost or seeing your rent inflated at the end of the term as a result.
As a homeowner you can make improvements whenever you want – changing paint colours at a whim, undertaking renovations, changing the garden or whatever it is you feel like. Of course, this comes at your extent, however any money wisely spent may increase the value of the property and in turn may be funds back into your pocket.
Housemates
As a home owner, you can rent out one of your rooms to another person for assistance with the mortgage repayments, much in the same way that you can share the cost of renting with someone else. As a renter, you will need to get permission from the landlord or property manager to allow another tenant into the property. As a home owner, you can do as you like.
You can also choose exactly who and when people enter your home. While tenants aren't without some choice, a property manager, with the right notice terms, does have the ability to inspect your property - and you don't get to choose the tradespeople that do the repairs or the property manager/landlord that you end up with.
Freedom
As a home owner, you can do as you like in your own space. Have pets? Want to smoke indoors? You can do as you choose. In saying this, the freedom of moving on from one property to another can become more limited as a home owner. To afford your initial property, you may find yourself needing to move from a more expensive suburb you can afford to rent in to a suburb that isn’t necessarily your first choice.
If your property drops in value, or if you find yourself unwilling to contend with the entry and exit costs, you may face a longer period than you envisioned living in the property. If, however, you are in a comfortable financial position – you may see yourself able to turn the property into an investment and return to renting, or purchasing a separate property as a home.
Alternatively, if you’re in a lease you cannot afford to pay out, you will be required to stay within the rental property until the end of the period. You may also find yourself required to move due to increasing rental costs, the investor selling or looking to put a different tenant in the property. Regardless of how diligent a tenant you have been, you can face costs.
Insurance and ongoing fees
Renters are lucky in that the costs they need to contend with can be quite low, with some landlords covering heating and water. While electricity and contents insurance, as well as other fees, fall on the shoulders of renters, other costs do not. Sewerage, rates, strata fees, building insurance – these costs must be handled by the property owner themselves. This can work out quite costly.
What pros and cons do you think first time home buyers should be thinking about?
</body></html>

Renting v buying: How does it stack up for you?

<html><body>
A new project, from YourLand Developments, is set to be Melbourne’s largest residential infill project within nine kilometres of the CBD, spanning 129 hectares and dubbed River Valley.
The <a href="https://www.yourland.com/Estates/Current_Estates/River_Valley.aspx" target="_blank">Sunshine North development River Valley</a> was officially launched on Saturday and saw more than 1,000 buyer enquiries in the lead up to the event, which offers blocks priced from $255,000, and block sizes up to 828 square metres. Titled blocks start from 402 square metres.
Director of YourLand Developments, Mark Erskine, said that more than 30 people attended the launch.
Interest has also been seen on nine titled blocks that were released late last year as well as 13 remaining allotments at River Valley Boulevard.
“All up, River Valley comprises about 1,200 lots, and is close to existing amenities,
including quality schools, restaurants, boutiques, Highpoint shopping centre, Sunshine
Plaza and Sunshine Market Place,” said Erskine.
The site includes a 3.6 kilometre river frontage, current city skyline views and a range of titled allotments.
YourLand took over the operations of the development in October 2013, looking to preserve the historical significance of the site as well as the eco-friendly nature of the development.
The first of the River Valley house and land packages is available for just over $700,000.
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>. 
</body></html>

One of Melbourne’s largest infill projects, River Valley, set for Sunshine

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]

Jennifer Duke

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News