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LandCorp and Lend Lease have announced the launch of redevelopment project The Playground, a 4.16 hectare site that will see buyers chosen through an electronic random selection process.
The project, called <a href="https://www.theplaygroundcoolbellup.com.au" target="_blank">The Playground</a> after its previous use as former North Lake Primary School in Coolbellup, has already seen hundreds of expressions of interest and offers 54 lots ranging from 275 square metres to 448 square metres.
The first release is expected for April, with the electronic process to sort through interested buyers.
The Primary, the redevelopment of former Coolbellup Primary School site by the same developers, saw strong demand that is expected at The Playground as a result, said LandCorp general manager metropolitan Luke Willcock.
There was a sell out of land in The Primary during 2013.
“We expect significant demand for the land at The Playground following sales at The Primary. An electronic random selection process is the fairest method to ensure all interested purchasers have the same chance of buying in this popular area,” he said.
Lend Lease general manager of communities in Western Australia, Anthony Rowbottam, said that the design will blend into the Collebellup community.
“The name of the development is inspired by the children's playground that was central to the former North Lake Primary School. The Playground will deliver amazing play and exercise spaces, facilities and parks, delivered through the evolution of the site," said Rowbottam.
The outdoor focus of the site is set to be extended in conjunction with community feedback. Current features suggested include a fitness trail with exercise equipment through the public open sapce, walkways and play areas.
“We are delivering an innovative product that will offer a range of high quality homes to meet many different lifestyles and budgets,” Willcock said.
“The Playground will showcase innovation in planning and design by developing new homes and amenities in harmony with an established suburb, just as we successfully did at The Primary.”
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>.
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jduke-EHk3XBmHkn

Redevelopment project The Playground launched in Coolbellup, WA

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A former Westpac Bank home finance manager has been banned from engaging in credit activities and providing financial services by ASIC after he had allowed elderly, disabled and other vulnerable people to access loans they would be unable to repay. This was for his own financial advantage.
David St Pierre, of Mount Nathan, Queensland, has been given a permanent ban. He was a home finance manager at Westpac from September 2000 to April 2011.
An investigation into St Pierre found that, between July 2008 and June 2010, he engaged in the following:
Submitting loan applications for approval that he was aware included false information. They were supported by falsified documents.
Failing to prepare an authority accurately identifying the payee of a cheque. This resulted in a customer's cheque for $215,000 being paid into a personal trading account of non-office holder of Capital Growth International Club Pty Ltd (CGIC). During his Westpac employment, he was involved in providing loans to All About Property Developments Pty Ltd (AAPD), which is the real estate arm of CGIC, for part of a property development scheme.
Enabling and encouraging customers to borrow funds, from Westpac, despite knowing they would be unable to repay the loan if the scheme failed. This included loans to the elderly, carers and those suffering from disabilities. He earned a financial benefit from these arrangements in the form of cash bonuses on the loans, which were additional to his salary. ASIC notes that there were 12 customers under this section, who had limited financial means.
Despite this, St Pierre encouraged them to borrow against their homes, some of which were owned oturight by the customer, and to invest in a scheme promising returns of 15% to 25% per annum to investors. These customers received monthly payments from the scheme, however these stopped just before a liquidator was appointed to both CGIC and AAPD in February 2011. This left them without enough income to repay their Westpac loans.
ASIC commissioner Peter Kell said this misconduct was very serious in nature.
"ASIC will ban people from the finance industry who act dishonestly and place personal interests ahead of those they service. Mr St Pierre's actions exposed vulnerable members of the community to severe financial loss and hardship," said Kell. ASIC acknowledged Westpac's cooperation in the matter, and said that they had been working to compensate the customers appropriately. This is ongoing.
St Pierre has the right to seek review.
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Former Westpac home finance manager banned after preying on the vulnerable

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Welcome to the new look Property Observer. We're excited to bring you the relaunched website, with the same strong editorial vision but updated into an even more user friendly interface that has been redesigned with you in mind.

We're bringing more tools, calculators and data straight to you, as well as integrating a number of useful features, while keeping your favourite content day in, day out.

We also know that property is not just an investment, it's also a hobby, a dream and a discussion point. We've added beautiful new picture galleries, designed to seamlessly flow with the articles, to inspire, delight and help you become immersed in the homes we feature. We've also made all of our visuals bigger and better across the site so that you can gaze longingly at multimillion dollar mansions and cheap renovation opportunities with us.

We've divided up our content into three sections that reflect the three major stages of anyone's property portfolio creation. Each of these has a number of subcategories on drop down menus, that help you navigate the site easily and efficiently.

FINDING

Here, you will find any information to do with specific suburbs, states and territories, as well as guides on locating the best areas in which to invest. Looking at hotspots, notspots, auctions, trophy homes, new developments and house and land packages, we've crammed it full of what you need to know to find your next property to live in or to invest in.

You'll also see our brand new Commercial property landing page. We know that many of our readers either invest, or are interested in investing in, commercial property, so we've decided to provide a separate area with its own features, separated into office, industrial, retail and leisure.

We've also brought in map integration to our suburb spotlights.

FINANCING

Loans, interest rates, SMSFs, tax and legal information - it's all in our financing section. We've also provided a number of calculators for investors to benefit from, with stamp duty calculators, retirement savings calculations and even one that works out your capital gains tax, these resources should come in handy.

Graphs will also now be interactive and clickable, providing you an increased understanding of the key data.

FORWARD PLANNING

Part of Property Observer's theory on investing has always been that research and planning ahead is absolutely crucial. In this section we look at everything from advice and expert opinion, to strategies, politics and policy, market trends, the economy and adding value with a number of renovation and development techniques.

You'll also find a brand new 'Tools' section, with free eBooks, webinars and polls available.

OBSERVERS

Property Observer wouldn't be what it is without the diverse number of voices on offer from industry experts. Now, each of our regular observers has a home on the website. If you enjoy reading a particular person, there's more where that came from. Click on their byline at the top of an article to read more from each person, or select an observer from their landing page.

You'll also find that contacting our authors and sharing stories is now easier than ever. While our comment section remains, hosted by Disqus, you'll also see an 'email' icon that enables you to send your thoughts to the writer in just one click. You'll also notice Twitter, Facebook and other social media buttons on each page that will allow you to share in seconds.

Other useful information, including latest listings and suburb search functions, are available throughout the site. Take some time to explore and let us know your thoughts: <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au </a>

The site is now also mobile optimised, so for all of you smart phone and tablet fans - and we fall into this category too - you can have the entire Property Observer experience on the go.

Lastly, our newsletter has also been updated. If you're already a fan, you'll see a new streamlined approach to our daily delivery, bringing you the latest news and tips so that you'll be ahead of the market and informed every day. If you're not yet a subscriber, you can easily subscribe for free via this link.
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Welcome to Property Observer's new look 

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Median prices are an often discussed dollar figure that many use to determine growth across markets or to mark down changes. However, it may not be as simple as you think.
If you want to quickly have a look at the median price in an area that interests you, as well as the recent changes in this figure, you can search your suburb here.
Here are four easy things you must know about this number if you're reading about it, or intending to use them as a gauge for market performance.
1) How to determine the number
Firstly, it's worth knowing how median prices are determined in the first place. The Real Estate Institute of Victoria's Enzo Raimondo previously provided us with <a href="/expert-insights/investing/how-to-determine-the-median-house-price">this quick guide to working the figure out</a>. While, usually, you will rely on a data provider to give you the latest statistics, it's important to understand how they are put together.
"The median value is the middle price in a series of sales, where half of the sales are of lower value and half are of higher value. For example, if 15 sales are recorded in a suburb and arranged in order from lowest to highest value, the eighth sale price is the median price," explains Raimondo.
To get an understanding of how this works, compare it to other measures such as averages and means. The mathematical median is not the same as the average - which is all the prices added up and divided by the total number of sales - nor the mean, which is another word for average. The mode is the number within a set that occurs most often. Median prices in property are based on the homes that have recently transacted, and are most often divided into units and houses.
2) A sudden increase in median is not an increase in capital gains
While median prices are a useful tool for understanding the price changes within a suburb - notably, when growth happens or declines - a 10% increase does not necessarily mean that your property is worth 10% more.
In fact, your property could have dropped in value during this time. What it does reflect, however, is activity in the market. Consider what would happen to the median price if, for instance, a number of multi-million dollar homes came onto the market at once, a new development was created or if first home buyer activity surged into a suburb.
You will need to look deeper into the sales that did go through to really understand what this activity is - are stale listings being chewed through or are new properties coming online? What is the difference in the data set between the last two months? Having a look at the types of properties that sold the previous month compared to the new record can be very helpful - you might notice that those selling last month were primarily four bedroom brick houses, where now they are two bedroom fibro houses. This may suggest that the downturn in price isn't a sign of your property's value tanking.
Despite it not necessarily being an indication of capital growth, what it can lead you to discover is often far more powerful - significant changes in an area. This could include blocks suddenly subdivided or opened up to different zoning, or new supply coming online.
3) Median prices mean more in some areas than others
Certain areas will see their median price statistics working out to be more useful and meaningful than others in determining growth. For instance, suburbs where the properties are largely homogenous, that is with similar numbers of rooms, layouts and block sizes, are likely to see the median price as more of a reflection of value. And suburbs where many properties transact on a regular basis will also be more statistically reliable than tightly held areas where a home may only sell once every 10 years and each is significantly different from another.
Similarly, some suburbs are far too large for the number to be meaningful - with good and bad sides that don't perform the same.  Some investors will rely on median price changes at a state or city level that may not be specific enough for some of the more important applications.
4) The statistics are best looked at over a longer period of time
Lastly, and importantly, median prices are more useful when viewed at over a longer time frame and not at over a month to month period. This helps you to truly get an understanding of growth and the area's performance. Spreading out the data set by time periods can help iron out some of the unusual activity in certain months and quickly point to where the outliers in the data are.
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Four things to know about median prices

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Traditional investor cities of Sydney and Melbourne are being tipped to fall out of favour as Brisbane’s affordability allows it to emerge as the new city to invest in, according to Place Advisory.
In Brisbane, the median apartment price sits at $383,000, with Place Advisory director, Lachlan Walker, placing this at 26% below Melbourne’s $481,000, and 45% cheaper than Sydney’s $557,000.
“In Brisbane one-bedroom apartments, situated just one kilometre from the CBD, are available from $339,000 and they max out at around $500,000 for premium stock, while in Sydney the same type of apartment would start at around $500,000,” said Walker.
“A median price disparity of this magnitude has not been seen between these cities since 2004.”
Houses are seeing a similar disparity he said, pointing to RP Data statistics presenting Brisbane’s median house price at $480,000, Melbourne’s at $610,000 and Sydney’s at $765,000. Perth’s median sits at $540,000.
In Brisbane, 76% of house sales are under $600,000, with this number dipping to 62% in Melbourne and 44% in Sydney.
For this reason, Walker pointed to Brisbane’s growing attraction for investors with a lower entry level and long-term buying opportunity.
“There is no doubt that there will be some value growth in Brisbane real estate this year, with higher demand leading to price growth,” he said.
“Sydney and Melbourne have already seen considerable growth, with double-digit price increases over the past year, but this growth is now set to slow, with the focus shifting to Brisbane as the next key growth area for Australia.”
He noted that Brisbane usually sits 12 to 18 months behind these two capitals in the cycle, proving it’s now Brisbane’s ‘turn’ to lead the growth.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Disparity in median prices “not been seen” since 2004 draws investors’ eyes to Brisbane

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A lack of information in our industry is what causes some of the worst scandals. Often when we see a spruiker exposed for ripping people off, or taking undisclosed kickbacks, or in some other way running afoul, they've been doing it for a long time and many people have known about it.
When it comes to property, as with most things in life, the more information the better.
At the moment, we have Queensland potentially legislating against auction price guides - a detail that is heavily used and relied upon by buyers across Australia. It's also a number open to some hefty toying with - see underquoting and related arguments - which is why they may consider it better for consumers to do away with this number completely.
But herein lies the issue. Some information is better than other information, some statistics are inherently more useful, more specific, more valuable and more accurate. For property investors, novice buyers and everyone on the property spectrum, the challenge is being able to identify the good data versus the "not so reliable" data when it arises.
Last week, I had industry members from Sydney, Melbourne and Queensland cite to me that the statistics on underquoting around auction price guides can be anywhere from "a few of them" to "98% of agents" in their experience. It appears very few can agree whether or not it is a widespread practice, perhaps due to the difference in laws around underquoting across the states and territories.
So let us put this plainly.
If a vendor tells an agent they want $1.2 million and that's what is expected, this is what they put on the agency agreement. If it's advertised with a $1.2 million price guide and the auction just goes crazy and reaches $1.8 million - that's not misleading necessarily. If a vendor tells an agent they want $1.8 million and that's expected, this is what they put on the agency agreement and it's advertised with a $1.2 million price guide - that is misleading. It would be bizarre for an agent to put $1.2 million on any agreement if, and those that are good at their job can guess to almost the $1,000 what a property will go for, they know it will go for a substantially different price.
I have seen instances, and heard of many others, where the reserve is higher than the price guide. I suggest alerting us here with the details. But remember, the reserve price is usually set on the day or close to it. We all know how emotional this part of the process can be for both vendors and buyers. If there's a last minute surge in interest, or the vendor changes their mind, they could easily put the reserve higher than they'd previously indicated to the agent. This doesn't mean the real estate agent has done the wrong thing. The piece of paper that proves the underquoting remains the agency agreement - although you could make a good argument for the reserve price being indicative of whether there may be underquoting.
Grey areas can occur when you have unusual properties, infrequent sales or when the market is just going off (and in this last instance, some predictive measures should be able to be used). Of course, it's largely these types of properties where auctions are used to best effect and are therefore most popular.
Rather than decreasing information provided, it's worth a suggestion that either more information is given - such as the dollar figure put on the agency agreement - or more policing of underquoting takes place. This would require an effort, but a higher level of regular enforcement and presence, such as turning up at auctions and checking agency agreements, would quickly stamp out many of these issues. It would also shine the light onto the practice and reveal whether it is as "widespread" as expected by some. There is a huge role for the authorities here, and I look forward to seeing them take action in the future.
What is also worrying about the changes to the Queensland legislation, which has been touched on by a number of news outlets and the <a href="https://www.change.org/en-AU/petitions/jarrod-bleije-mp-amend-proposed-legislation-aimed-at-banning-price-guides-on-properties-going-to-auction-in-qld?recruiter=83952376&amp;utm_campaign=signature_receipt&amp;utm_medium=email&amp;utm_source=share_petition" target="_blank">Change petition from News Limited's real estate editor Kylie Davis</a>, is the penalty provided to real estate agents should they tell journalists a price guide on a property. Property media is a significant part of the Australian landscape and our real estate industry. There's already plenty we can't say as journalists without facing defamation lawsuits which, even if you win, can cost you dearly in the process. The one thing we'd hate to lose is the ability to comment on these prices or for our sources to be fined for providing information to us. Without price guides we head in blind, not knowing the dollar figure significance of an auction and left to 'guesswork'. Record-breaking auctions in Queensland may miss out on coverage - sometimes the price guide is enough to prompt a reporter to turn up.
The fact remains, however, that this is largely about how it will affect buyers and vendors and less to do with the reporters. A disconnect between the Real Estate Institutes recently appeared about this issue and I was struck by the comments from the CEO of the REIQ, Anton Kardash <a href="https://www.propertyobserver.com.au/new-south-wales/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate/2014030268111" target="_blank">where he said that auctions are not unique to real estate</a>.
"Art, horses and motor vehicles, to name but a few, are regularly auctioned without a fixed price or a price guide because that is the very nature of auctions. The market will decide on the day of auction what it is prepared to pay for that particular asset," Kardash said.
But property, as no doubt many will agree, is not an artwork (although it can be), or a horse or a motor vehicle. Even those who buy mainly to invest will be forced to concede that for many this is their home and their life savings and we all deserve more from our industry than to treat property as solely another commodity.
He explains that not presenting a price guide is already the 'norm' in Queensland - and certainly it makes sense to legislate to ensure everyone is on the same page. But he also said this: "It should also be highlighted that if a seller wishes to market a property with a price or using a price guide, they may do so by instructing their agent to sell via the much more popular private treaty method."
Vendors should be able to sell their property with as much accurate information as they'd like to provide. If they want to include a building and pest inspection, a valuation and some rental appraisals into the mix, they should be able to. Why should they be unable to guide on price as well?
Kardash also points to the complaints being "rife" in other states regarding price guides for auctions. Considering New South Wales and Victoria are the two states with the biggest auction cultures, it would be a safe bet to assume he is pointing to Melbourne and Sydney as the perpetrators. I know many real estate agents in both of these capitals and a huge number of them are upright individuals that I would be shocked to see knowingly involved in any misleading behaviour. While I can't deny that there are some of the other side of the fence, why should we restrict those who take to their role with professionalism?
When it comes to property, as with most things in life, the more information the better. Our readers have been clear in a number of Property Observer polls, emails and comments that they'd like to see reserve prices published as an option if price guides are not available. Let's make the information provided more accurate, rather than looking to decrease that we already have.
<img src="/images/stories/2014/03/03/poll-results-march-3.png" alt="poll-results-march-3" width="470" height="111">
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
Disclosure: Jennifer Duke has signed the Change petition against the Queensland auction price guide ban 
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Letter from the editor: More information not less please Queensland

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The grand ‘success story’ is a marketing technique and also a caricature that is instantly recognizable in the real estate world. Whether it is a rags to riches story, the underdog winning against the odds, or just someone doing well with an investment – they are stories that everyone loves to tell and loves to read.
However, as is often asked of fairy tales, what happens when the curtain comes down and the happy ending has been reached? What happens after the story ends up in the waste paper bin?
A typical story emerged with two rent to buy practitioners in Western Australia. They were incredibly young when they started out. Siblings Patricia Mirawati Susilo and Bryan Artawijaya Susilo, the brother of the sibling pair being just 17 years old and still at school, attended a seminar and they became, like many others, hooked on property and the dream of making money through real estate.
Last week, Property Observer reported that they <a href="https://decisions.justice.wa.gov.au/supreme/supdcsn.nsf/judgment.xsp?documentId=0A4F904B45F9C89548257C8C001BBF99&amp;action=openDocument" target="_blank">had been fined for misleading and deceptive conduct by the Supreme Court of Western Australia</a>.  The pair were given penalties and ordered to pay costs to a total of more than $30,000.
Bryan has just turned 20 – his birthday was last month. But how did they get from being wide-eyed youths at a property wealth building seminar, to slightly stunned adults at the court house?
The court documents revealed that the pair had learnt about rent to buy from a course in Sydney that cost them $20,000 for four days, after an initial free seminar. The court records did not note who the provider of the course or the seminar was. The siblings set up Buy Houses Easy and began a small rent to buy business in Western Australia. They also have the website Easy Home Solutions, where Bryan is the main phone contact and his name is cited in the testimonials. His phone was turned off when Property Observer called.
Patricia, director of their self-created ‘Buy Houses Easy’, was operating without a real estate license and the court ruled that many of the terms they used on their advertising material were misleading or deceptive.
The promoter who taught the Susilos appears to have initially paid their court costs and provided the legal advice until the end of last year when everything changed, and the siblings did an about turn and pleaded guilty. At the time of publishing, it was unclear exactly who funded these legal costs.
The Susilos, softly-spoken Patricia and bolder younger brother Bryan, attended their first seminar in North Perth, held by TGR Seminars Pty Ltd and hosted by Stuart Zadel. It was 2009, and they had never done anything with property before, nor had they attended any other seminars at that time. The siblings, who have spent most of their lives in Perth, were told about the event by their father, who asked them to come with him. One of the sessions within the seminar was a ‘rent to buy’ presentation.
Zadel has since told Property Observer that given the reputation of the seminar industry, he has gone to great lengths to bring honesty, integrity, transparency and longevity to the industry with his events, noting that he is committed to making a difference in the world and always giving back to the community and environment. "Zadel Property Education is an established, well-respected personal development and property education company offering leading-edge information to inspire prosperity for all," he said of the events.
In a ‘success story’ interview with Zadel, Patricia explained that it was important to their father that they start a business and work together and that they saw an opportunity to do this through the information provided at the seminar. You can <a href="https://stuartzadel.com/stuart2012/wp-content/uploads/audios/patricia_and_brian_part1.mp3" target="_blank">hear the full interview online</a>, although the video has been removed from the <a href="https://stuartzadel.com/stuart2012/podcast/success-story-patricia-and-bryan-age-is-no-barrier-part-i/" target="_blank">main page of their success story</a>.
“I was at highschool at that stage, she [Patricia] was at work in an accounting firm doing auditing, doing this and that. When we first came to Stuart we had very little background in terms of doing our own business. Never bought a property before, never done any renovations, we were pretty fresh off the block,” Bryan told Zadel.
Their youth, heavily focused on in the interview, was said to be unusual, with the majority of people going to the seminars being significantly older.
The Susilos explained that they sometimes experienced difficulties due to people’s perception of them as inexperienced. Some people “don’t believe that we own the houses,” explains Patricia. However, she goes on to say that the potential clients eventually “get over” the sibling’s youth, as they appear to know what they’re doing.
“That’s fantastic,” says Zadel.
Bryan laughs remembering the first time he put his new skills into practice.
“I still remember the first meeting I had with someone who was selling their house. It was traumatizing,” he muses.
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“I still remember the first meeting I had with someone who was selling their house. It was traumatizing,” he muses.
</blockquote>
The first year of their business was slow. “The first year we only had one go through,” explains Patricia.
“It was slow,” says Bryan, “the first three quarters of that year were almost uneventful.”
As of the interview, they said they had about eight deals altogether that had gone through.
“We were starting from ground zero, no financial resources, no experience, we had the support, we had the resources from Stuart and his strategies… for that reason, our first few, some we had to let go in the sense that we weren’t in a financial position to commit from them… since then in the last 12 months we had [about five] deals stack up,” Patricia explains.
“We’re making, on average, around $30,000 per house,” she told Zadel at the time.
Evidence shown in court amounted to four property transactions. The profit received on these transactions was described in the judgment as including $2,825 on a Huntingdale property, and $17,676 on an Orelia property.
Further research has found that the ‘hand over’ course from the seminar, which the students told the Court their parents paid $20,000 for them to attend, was that from best-selling author of How to buy a house for one dollar, rent to buy promoter Rick Otton. This was not mentioned in the success story interview the siblings did with Zadel and was gleaned from further searching. Zadel tells Property Observer that this is the norm for his business and not undertaken with anything sinister in mind.
"In relation to the online "success interview", our long-standing company policy with such interviews is to focus on highlighting personal success with strategies and approaches, not the specific teacher," he said of the interview.
"The last time my company worked with Mr Otton in Western Australia was in April 2012. Around that time, we became aware of potential regulatory issues with Mr Otton's rent to buy strategy in that state (but in no other states), and immediately withdrew it from our program," he said.
"In all my legal agreements with my speakers, it is made very clear, amongst many other requirements, that: "All statements made by the Speaker during the event are true and accurate and not misleading in any way and any opinion given by the Speaker during the event is based on the Speaker's reasonable belief"."
At the time of writing, Otton has images of Bryan and Patricia on his Facebook (screenshots below) and refers to them as the ‘BKs’, or the ‘Big Kahunas’, in one of the 2012-uploaded images. This is a term he regularly gives to his successful students.
<img src="/images/stories/2014/03/10/facebook-march-10-one.jpg" alt="">
<img src="/images/stories/2014/03/10/facebook-march-10-three.jpg" alt="">
Source: Facebook 
The course went on for five days, and the judgement explains that it included information on many aspects, such as promotion, sales methods and documentations and also had a lawyer speak at one of the sessions.
The Susilos also paid $1,000 a month in ongoing mentoring fees after this date, which Justice Beech at the Supreme Court of Western Australia, believed to express the faith the siblings held in the course and its presenters.
“The defendants' evidence is that they followed what they were taught at the courses, including in the advertising of their business and the sales the subject of these proceedings. This evidence was not challenged, and I accept it,” said Justice Beech.
While it was claimed that they did not know at the time that their actions were misleading, "The Company Website Conduct was deliberate in that Ms Susilo knew that her business did not buy houses and knew that she derived fees and commissions. However, she believed, based on the course she had done, that the business did buy houses in a broader, non-technical sense of the word," the judgement ruled.
"Nevertheless, given the defendants' age and inexperience, and what they had been told at seminars, their beliefs might be said to be understandable."
<a href="https://www.thenaysayer.net" target="_blank">Consumer advocate blogger at Naysayer</a>, Carolyn Bond who previously co-ran the Consumer Action Law Centre in Victoria, and the Consumer Credit Legal Centre for 15 years, and has held numerous advisory body positions as consumer representative, has weighed in on what some of the recent judgments mean for others in Western Australia. She also told Property Observer that she has spoken to a number of those who have been involved in similar activities.
“While the court didn’t specifically discuss the reference to options in the legislation, I suspect that as far as “creative” property strategies, the question of whether an estate agent’s licence is required in WA (and possibly the rest of the country) may have been settled,” Bond writes in <a href="https://thenaysayer.net/2014/03/08/big-comeuppance-for-big-kahunas/" target="_blank">her most recent post Big Comeuppance for Big Kahunas</a>.
She also notes the following that rent to buy promoters can learn from:
Hold a real estate agents licence. if you are doing rent to buy or be very confident of any legal advice that indicates you don’t need one. While the licence decision was based on WA legislation, the wording of the decision suggests that the definition of ‘real estate transaction’ in other states’ legislation would be adequate to require that rent-to-buy operators hold a real estate agent’s licence.
Fix up your website, ads and signs. The Court relied on the Australian Consumer Law (Commonwealth) in finding the various statements to be misleading, so it is likely that similar statements would be found to be misleading in all other states.  While there could be prosecutions in other states for conduct over prior years, it’s better to comply late than never.
You can’t use the excuse “someone taught me". The problem for any seminar students is that it is not a defence to prosecution to say that someone suggested, or taught them to make particular representations. 
Unjust contracts. The decision relating to the exorbitant house price was based on the NSW Contracts Review Act.  However, this legislation contains similar provisions to the unjust provisions in the NCCP.  While purchasers in the same position in another state may not obtain a similar outcome from a deal which is not in the course of business, similar provisions of the NCCP may apply if a party is in the business of providing credit, or holds a credit licence.
Source: Naysayers Blog
And, finally, she indicates that there are many other rent to buy operators in Western Australia who are using very similar methods as those seen by the Susilos, and who are no doubt concerned as to whether they are compliant with the law.
The active, or soon to be active, nature of the rent to buy industry in Western Australia was also mentioned by Justice Beech.
<blockquote>
The active, or soon to be active, nature of the rent to buy industry in Western Australia was also mentioned by Justice Beech.
</blockquote>
"It is open to infer from the defendants' evidence that there is, or is likely to be, an active rent to buy industry. Some of the participants may have attended the same seminars and may be liable to engage in marketing and promotions strategies that raise questions of misleading conduct under the ACL. That engages the need for general deterrence. In any event, the object of general deterrence applies more widely," continued the judgment.
Both of the siblings, along with the fines, received three year injunctions requiring them not to engage in rent to buy real estate transactions without a license or without working for a licensee and not to represent that they "buy houses" unless they intend to acquire a freehold title.
They were also told not to represent that they are the owners, jointly or solely, of properties they are selling unless they are the owners and not to represent to buyers that they can purchase without a bank loan unless there are reasonable grounds for this.
Beech told them that accurate and complete statements of the money payable by prospective buyers under the arrangement must be provided, that rent to buy arrangements are not immediate sales of the property and this must be disclosed and that the promoters must also disclose what revenue they will attain from the arrangement.
When Rick Otton, director of We Buy Houses, was contacted by Property Observer he said that he was in a seminar but agreed to answer some questions by email.
He responded to the questions, which have been reproduced in their entirety below:
<ol>
<li>
 When did the Susilos become involved with you, and how did you meet them? Many people have attended my trainings at some stage over the last 15 years as these strategies have become more main steam (sic) and popular both here in Australia and overseas the solicitors handle the legal aspects at these events. Most attendees go to other seminars covering the same subject areas 
</li>
<li>
What support did you provide to the siblings through the court proceedings? (Including help with legal advice etc?) I did not believe that prosecuting a 17 school boy in the supreme court was in anybodies best interest let alone the expense or the message it would send to other young Australians for what ended up being a legal technicality. 
</li>
<li>
I have read a comment online that is said to be from yourself about the case on Australian Property Forum here: <a href="https://australianpropertyforum.com/single/?p=8444000&amp;t=9755161" target="_blank">https://australianpropertyforum.com/single/?p=8444000&amp;t=9755161</a>. Was this your post? [No response provided, and after a follow up email was sent Otton said that he would have to chase it up, as much of this is outsourced] 
</li>
<li>
Do you intend to alter the way you teach your students as a result of this? What are your overall thoughts on the judgement? Guidelines have now been set regarding advertising which offers more clarity as the industry is growing and constantly changing, as a result the industry has adapted. I'm glad but not surprised that the Justice agreed that all the strategies are legal. 
</li>
<li>
Had any of these issues as presented by Justice Beech been on your radar previously? This case has been ongoing for over two years as nobody could clearly define all variations in the way Australians now transact property The market is changing and therefore a lot of what was old does not necessarily apply to the needs of people today. The Justice agreed with our side on many issues raised by the commissioner of WA . On a couple of points he agreed with the WA commissioner 
</li>
<li>
Any other comments you think are pertinent. I believe that the way Australians transact real estate is ever changing as it is in other parts of the world.... In all areas of life change is inevitable, you can try to stop it or accept it and develop guidelines that accommodate the change</li>
</ol>
 
That there has been a crackdown on rent to buy in Western Australia, with Consumer Protection Commissioner, Anne Driscoll, leading the charge has been no secret in the industry. In fact, on their website there is <a href="https://www.commerce.wa.gov.au/ConsumerProtection/Content/Property_renting/Buying_and_selling/Rent_to_buy_schemes" target="_blank">a list of the warnings and court proceedings in regards to rent to buy</a>.
Rick Otton’s seminars have already been the subject of a voluntary ban in the state, <a href="https://www.google.com/url?q=https://www.propertyobserver.com.au/western-australia/best-selling-property-investment-author-s-wa-seminars-banned-dept-of-commerce/2013111266316&amp;sa=U&amp;ei=cS8dU5KnDY-FogST54CoCg&amp;ved=0CAYQFjAA&amp;client=internal-uds-cse&amp;usg=AFQjCNF4zFh4lif72QuiT-4uZ1SXOAKbng">as reported back in November last year due to potentially misleading advertising</a>. Action in other states and territories around the issue hasn’t yet been as pronounced.
Meanwhile, Zadel noted that this case had "nothing remotely to do with my business, which anyone who takes the time to read the publicly-available online judgment will realise."
As for the Susilos, one can only hope that their real estate dreams haven’t necessarily been broken and that they realize there is an appropriate method for everything. As well as that it's necessary to comply with the law - particularly when dealing with many peoples' most valuable asset and lifeline. It was noted in court that Patricia currently works as a credit assessor, while Bryan relied from the funds coming in through the business, as well as on his parents.
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=UaqQaCzKr0mPHBbYLZDRkDI8X8tjD9EI6oITOZGSRU_X9kxubKT8jj90VXO4-8fs30k5GCGiPSU.&amp;URL=mailto%3ajduke%40propertyobserver.com.au">jduke@propertyobserver.com.au</a>
Note: The article has been updated to reflect comments provided by Stuart Zadel post-publication 
</body></html>

From seminar to success story… to getting fined in the Supreme Court of Western Australia: How it happened

<html><body>
When owning a rental property, the safety of your tenants is in your hands. While this can be as a negative when it comes to investing in property, it’s still an aspect to be taken seriously. Disregard for the state of your rental can leave your tenant unwell and see you facing tribunal. Last year, the <a href="https://www.sunshinecoastdaily.com.au/news/mum-wants-out-of-mould/1265926/" target="_blank">Sunshine Coast Daily reported</a> about a woman claiming ill health due to a mould infused rental. Property Observer has also asked many times “<a href="/expert-insights/investing/is-your-tenant-living-in-squalor-this-video-is-hard-to-watch">Is your tenant living in squalor?</a>”. In the United States a number of landlords have faced lawsuits regarding mould and its effect on the health of tenants. Poorly ventilated properties are usually those most prone to mould and, while this can be in older homes, new homes do not get off the hook. The video below is of a property in Sydney – just two years old. Of particular note are the mould spores around the children’s room and bed.
{qtube vid:=kp4dwMrL1DU}
 A quick Google search online reveals forum post after forum post of different renters experiencing this problem, and many where tenants discuss respiratory difficulties and other ailments. In the above video, Just Think and Oz Real Estate TV’s Edwin Almeida explains that they use special equipment to expose the extent of what some tenants live with. “Our expert informed us; it is not what you see that you need to worry about as much as what needs to be seen with a blue light apparatus. The mould spores turn into shiny particles under the blue light and only then are we able to see where these toxins rest. In most cases the spores can be found on the other side of the homes, from where the naked eye sees the black stains. These spores become airborne and end up in the wardrobes, cold surfaces, enclosed areas and all over the furry toys children play with daily,” Almeida explains. “In most of the newly built apartment blocks post 2006, I have seen that the wet areas namely; bathrooms, laundries and kitchens, don’t have windows and these areas rely on mechanical ventilation to extract the humidity out of the room. Most of the time, the ventilation filters are seldom cleaned and at first they may be working at full capacity. However, the flexible ducting, which is meant to carry the moist air out, is usually compressed and twisted during the construction.” In a nutshell, the mechanical ventilation is failing. With fewer windows, smaller rooms and smaller rooms, ventilation problems are increasingly becoming a complaint. Investors dealing with a rental property with a mould issue should consider the following recommendations from Almeida: 
<ul>
<li>Act promptly on requests from tenants when they report musky smells in the property.</li>
<li>Identify dust-riddled areas and encourage these to be cleaned by the tenants regularly when conducting a mid-term reports. Dust and moisture is the breeding ground for mould.</li>
<li>Where possible assist the tenants by providing a dehumidifier to extract moist air from the apartment.</li>
<li>Encourage tenants to ventilate the apartments as much as possible even in winter.</li>
<li>Keep wet areas (rooms) ventilated and doors open when in use, mainly the laundry area when using the dryer.</li>
<li>Do not clean mould with bleach. Use commercial white vinegar with a tenth portion of methylated spirits andspray on effected surface then wipe clean. Re-spray the effected surface area with a fine mist of the same solution andallow it to dry, creating a barrier.</li>
<li>Do not paint over mould without first cleaning or properly preparing the surface area.</li>
<li>Contact a mould specialist immediately if the infestation is prevalent, as it is quite possible the entire home will require treatment as mould spores are airborne.</li>
</ul>
 <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
</body></html>

One rental problem that may be opening you up to a lawsuit

Property Trivia: Medieval castles, top not-spots, the ‘X-factor’ of the market

Around Australia: 3,800 suburbs analysed for liveability, here are the top 100

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

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