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If you're a valuer, particularly in New South Wales, there's good news in store.
SEEK has tweeted out their infographic and new details showing where the best salary increases are across the states and territories, as well as across the country, and it appears that valuers are a surefire winner. Seeing an 85% increase in New South Wales to reach an average salary of $89,200, it's clearly a sign of a hot market.
Similarly, in Western Australia, architectural drafting has seen a significant increase - up 68%. The average salary is $67,500.
These details come from the Seek Job Growth Report, comparing 2013 with 2012, released this month.
<blockquote lang="en" class="twitter-tweet">
Wanna know what the hottest <a href="https://twitter.com/search?q=%23jobs&amp;src=hash" target="_blank">#jobs</a> are for <a href="https://twitter.com/search?q=%23salary&amp;src=hash" target="_blank">#salary</a> increases across the country? Yeah ya do. <a href="https://t.co/0zCyCTnnVL" target="_blank">https://t.co/0zCyCTnnVL</a> <a href="https://t.co/1lKc6A67yT" target="_blank">pic.twitter.com/1lKc6A67yT</a>
— SEEK (@seekjobs) <a href="https://www.propertyobserver.com.au/https://twitter.com/seekjobs/statuses/433837167782023168" target="_blank">February 13, 2014</a>
</blockquote>
Across the country, property "evaluation" is up 51%, to an average salary of $85,300, according to their nationwide infographic.
If you're in Queensland, then veterinary and animal welfare is the fastest growing, at 64%. In Victoria, power generation and distribution is seeing top results at 104%, while South Australia's general practitioners have been given an 82% boost.
Nationally, fishing and aquaculture topped out at 65%, followed by property evaluation, 51%. General practitioners, teaching - early childhood and emergency services also took out spaces on the list at 47%, 47% and 44% respectively.
There are currently 115 listings in the 'valuation' section on Seek, of which 58 are in New South Wales.
We're not sure we know any valuers whose salary has gone up 85% in one year, but it does perhaps suggest that there are some more senior roles now available. Readers working in the valuation industry - what have your experiences of this been?
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

Property valuation one of hottest jobs for salary increases, NSW

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New development, at 8 Montrose Street, Hawthorn East has sold 50% in its opening month and a half, with Kokoda Property behind the 110 one- and two-bedroom apartment development.
The development, called <a target="_blank" href="https://8montrose.com.au">‘8 Montrose St’</a>, includes one-bedroom apartments from $339,000 to $499,000, as well as two-bedroom apartments from $529,000 to $855,000. There is also a three-bedroom penthouse. It's located just off of Burwood Road. This isn’t Kokoda Property’s first foray into <a target="_blank" href="/news">Hawthorn East</a>, being <a target="_blank" href="https://www.propertyobserver.com.au/developments/hawthorn-east-s-leo-development-now-75-sold/2013091665060">developers of nearby Leo Apartments, on Camberwell Road</a>, which saw one-bedroom apartments priced from $379,000, and two-bedrooms from $569,000. It was 75% sold out in September last year.
The median price in Hawthorn East for units is $535,000, with a median asking rent of $385. This is indicative of a 3.7% rental yield. The vacancy rate, according to SQM Research, currently sits at 2.8%.
Kokoda Property’s sales and marketing manager, Sam Tucker, said that it is just four stations from the city, and will have views of both the city and tree top surrounds from levels six to 10.
{yoogallery src=[images/stories/2014/02/13/haw2]}
However, it does appear that it faces quite a bit of competition from a <a target="_blank" href="https://www.propertyobserver.com.au/victoria/hawthorn-east-to-welcome-two-boutique-developments-only-metres-apart/2013102865991">number of other developments in Hawthorn East</a>, just a bit further along on Camberwell Road. “8 Montrose St will have a café at street level so you won’t need to travel into the city for that authentic laneway experience,” said Tucker.
jduke@propertyobserver.com.au
 
 
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Hawthorn East development 8 Montrose St sells 50% in opening six weeks

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During a five-day My Place program in Campbelltown and Camden, Fair Trading officers are conducting compliance checks on a range of people, including real estate agents.
Scam awareness is the aim for the My Place series of information sessions and seminars being hosted this week by Fair Trading, with several today around property and home building.
Minister for Fair Trading, Stuart Ayres, will be joined by Campbelltown MP, Bryan Doyle at the Viceroy Mt Gilead Retirement Village, to host a seminar aiming to help people identify, avoid and report scams.
“Every year Australians lose millions of dollars to the activities of scammers who target people of all backgrounds, ages and income levels with online, mail, door-to-door and telephone scams,” Doyle said.
Seniors are one of the most vulnerable groups when it comes to scams, with this training hopefully to assist them not to fall prey.
In addition to scam awareness, information seminars on tenancy laws, strata schemes and incorporated associations will be held, along with seminars for home builders and real estate agents, among others.
“My Place programs give Fair Trading a keen insight into local marketplaces and often help pick up problem areas in compliance,” Ayres said.
“Trader checks help the agency remind industry participants of their obligations at law.”
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Fair Trading undertaking real estate compliance checks in Campbelltown, Camden

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ASIC’s six-month enforcement report, the fifth they have released, details outcomes between 1 July 2013 and 31 December 2013, and provides the highlights.
With 340 enforcement outcomes across the board, including criminal, civil and administrative, negotiated outcomes and enforceable undertakings (EU), there’s much to look at.
Of this total, 112 outcomes were in the market integrity, corporate governance and financial services area. Another 228 were in the small business area.
EUs were secured with NAB, UBS, Wealthsure and Commsec.
ASIC’s current focus areas include:
Cracking down on misleading advertising of products and services
Market misconduct (including insider trading)
The responsibility of gatekeepers
Other focus areas, as outlined by ASIC Commissioner, Greg Tanzer, include loan fraud, false accounting, takeovers and shareholder disclosure.
“ASIC’s crackdown on brokers submitting fraudulent loan applications and similar behaviour has seen several individuals criminally charged or banned. We currently have more than 20 investigations underway involving falsification of loan documents and loan applications,” he said.
<a target="_blank" href="https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rep383-published-11-February-2014.pdf/%24file/rep383-published-11-February-2014.pdf">Report 383</a> included a number of ‘highlighted’ results in a range of areas.
These are the five property-related highlights of the six month period:
<ol>
<li>The Federal Court finding <a target="_blank" href="https://www.propertyobserver.com.au/developments/victorian-governments-urban-development-ceo-resigns-amid-job-cuts-and-market-downturn/2012112858169">five former directors of Australian Property Custodian Holdings Ltd</a> as liable for breaching their duties as officers of the company. The company was the responsible entity of the Prime Retirement and Aged Care Property Trust (Prime Trust), a management investment scheme with retirement villages in New South Wales, Queensland and Victoria. Collapsing in 2010, the company owed investors $550 million. </li>
<li>
<a target="_blank" href="https://www.propertyobserver.com.au/finance/two-years-imprisonment-after-investors-misled-over-victorian-property-developments-asic/2013121867010">Former director of Dollarforce Financial Services Pty Ltd</a>, Clestus Weerappah, was jailed for four years due to his role in the collapse of the property development group. Dollarforce, which collapsed in 2009 with a $24 million deficiency, saw investors lose more than $8 million. Weerappah pleaded guilty to five charges related to raising more than $4 million from investors. He was ordered to repay a total of $3.7 million to investors. </li>
<li>Interim stop orders were placed on the product disclosure statements and associated advertising for Trilogy Monthly Income Fund and Trilogy Melbourne Office Syndicate – Cheltenham. The concerns related to the use of headline rates of return, comparisons between other products without disclosing the differences between them, failure to disclose against the benchmark or to apply disclosure principles and the use of ratings statements without providing adequate details. </li>
<li>The AFS licence of Australian Public Trustees Limited was cancelled after they breached a number of financial reporting and other obligations. It operated managed investment schemes, both of which invested in direct real property. They failed to lodge audited financial reports on time, as well as to comply with conditions of the license.</li>
<li>A former mortgage broker, <a target="_blank" href="https://www.propertyobserver.com.au/finance/mortgage-broker-convicted-of-providing-banks-false-infor-to-secure-%2475m-of-loans-asic/2013121166888">Hee Seng Lee of Dural, New South Wales, pleaded guilty</a> to six charges of making false statements and providing false documents after falsifying information provided to the banks to secure $7.5 million of home loans. The loans ranged from $160,000 to $1.5 million.</li>
</ol>
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
<ol></ol>
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Five ASIC highlights: Property breaches, collapsed development groups, falsified mortgage documents

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Property investors appear to be targeting higher-end established properties to add to their portfolio, taking advantage of the softer prices since the global financial crisis, according to managing director of DEPPRO, Paul Bennion.
Noting that they had undertaken more tax depreciation schedules for expensive properties, Bennion said that a number of clients have achieved high enough equity levels in their existing portfolios to purchase the higher-end more expensive homes.
“Investors are now targeting higher priced established properties because the upper end of the property market underwent a significant market correction following the Global Financial Crisis and properties prices are therefore now very competitive in the top end of the real estate market,” said Bennion.
These investors apparently believe that the upper end of the market will rebound, delivering high rates of capital growth when the market gains further momentum, meanwhile allowing them to benefit from significant tax depreciation.
Another trend that he has been noticing is currently established investors adding more to their portfolios with additional properties.
“Typically, we have seen our long term clients who have around three or four investment properties purchasing at least one additional investment property over the last year,” he said.
This aligns with housing finance figures recently released by the Australian Bureau of Statistics that <a target="_blank" href="https://www.propertyobserver.com.au/finance/housing-finance-data-sees-mixed-response/2014021167729?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">noted an uptick in investment activity</a>.
jduke@propertyobserver.com.au
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Investors targeting upper end of the market: Paul Bennion

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With holiday homes contributing an estimated $31 billion to national economic growth, according to a report undertaken by BIS Shrapnel, commissioned by the Holiday Rental Industry Association, it’s surprising which locations take out the top holiday rental suburb spots.
With the report finding that holiday rentals generate $5.2 billion in direct spending, on an estimated 276,000 holiday rental dwellings, with more than 25 million nights spent in holiday rentals, spending on average $145 per night per booking, it also sees $3 billion being spent in ancillary industries, such as car hire, restaurant meals, self-catering and similar.
Chair of the association, Allison Manners, said that this explains the economic significance of the holiday rental market, particularly in the areas outside of the cities where there was a strong distribution.
Regional and coastal areas were most likely to benefit from holiday rentals compared to commercial accommodation. There are <a href="/expert-insights/investing/holiday-homes-finances-aside-the-pros-and-cons-come-down-to-a-generational-outlook">a number of pros and cons, even with finances aside, when it comes to considering a holiday home investment</a>.
The overall figure, which is both based on direct and indirect spending, should see regional and coastal areas likely to benefit more from holiday rentals, compared to commercial accommodation. Which aligns with their top areas list.
Based on the share of holiday rental accommodation within a suburb, the below list has some surprising, and some not so surprising, entrants.
The top areas:
Fleurieu Peninsula, South Australia (45%)
Hobart, Tasmania (45%)
South West, Western Australia (41.5%)
Sunshine Coast, Queensland (32%)
Mornington Peninsula, Victoria (26.6%)
South Coast, New South Wales (24%)
Gold Coast, Queensland (21%)
“From a regional perspective, State and Local Government policies that support the sustainable growth of the holiday and short term rentals will drive economic growth, jobs and visitation in these regions” said Manners.
If you're considering a holiday home as part of your long-term investment plan, read this guide by David Airey.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Highest proportion of holiday rentals might not be where you expect

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The first two papers reviewing the buying, selling and managing of property have been released by Attorney-General Jarrod Bleijie, and are now available for comment.
Looking to review Queensland’s Property Law, the two papers look to reduce red tape and regulation, said Bleijie.
“It is an exciting opportunity for property professionals, bodies corporate, property owners and the wider community to have their say in shaping this important review,” he said.
“It’s time we brought the property laws into the 21st century to help revitalise the market,” he said. This comes as the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/property-occupations-act-s-impacts-on-qld-agents-michael-davoren/2013121666971">Property Occupations Act has also been undergoing review and changes</a>.
These first two papers are around seller disclosure requirements and body corporate lot entitlements.
The Commercial and Property Law Research Centre at the Queensland University of Technology have partnered with the government in creating these reviews.
“We want all consumers to be properly informed when it comes to buying property,” he said.
“This is about getting the balance right and having a system that promotes the future of the property sector.”
The plan to have these reforms was mentioned in August last year.
Currently, the report explains that there is no single legislative or common law source governing seller disclosure obligations in Queensland.
General principles of current seller’s disclosure obligations under common law include that:
Only latent defects in the seller's title need to be disclosed (e.g. interests registered on the title such as encumbrances, leases and easements).
A seller is not required to disclose defects in the quality of the title (such as land restrictions or contamination issues).
A seller provides no warranty as to the fitness of the property for the purpose for which it was purchased.
The review, which poses a number of questions to real estate professionals, explains that disclosure obligations are currently without underlying principles, leaving the onus on the buyer.
"[Taken] as a whole, the Queensland seller disclosure obligations have evolved over a long period of time without any underlying guiding principles, apart from attempting to address the possible information asymmetry arising as a result of the perceived effect of the doctrine of caveat emptor,” explains the report.
You can <a target="_blank" href="https://www.justice.qld.gov.au/corporate/community-consultation/community-consultation-activities/current-activities/review-of-property-law-in-queensland">submit comments to the review here</a>.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Property disclosure law up for review in bid to tackle “caveat emptor” doctrine, Queensland

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Luxury apartment complex, Evoque, in Queensland’s Kelvin Grove, is offering body corporate fees at $1,463 per annum as a selling hook for the development, with no gym and no pool offered.
The low rise development, consisting of two buildings with 10 apartments in each, has been designed in a way to avoid elevators and has not included amenities commonly seen in apartment blocks such as pools to keep the body corporate fees lower than other local complexes.
Considering body corporate fees are one of the much checked factors by those considering buying off the plan, this might just be a good strategy as investors remain wary of the fees eroding their return. Property Observer previously wrote about<a target="_blank" href="https://www.propertyobserver.com.au/landlords/low-rise-units-a-better-option-for-first-time-investors-than-high-rise-wbp/2012031953895"> low-rise being preferred over highrise due to the ability to fees and scarcity</a>. Similarly, excessive body corporate fees are regular headline-grabbing events in the property press, with <a target="_blank" href="https://www.propertyobserver.com.au/news/the-block-sky-high-buyers-face-%242234-quarterly-body-corporate-levies/2013072763595">The Block Sky High seeing buyers facing $2,234 a quarter</a> for the first year in body corporate fees.
<a target="_blank" href="/news">Kelvin Grove</a>, a northern Brisbane suburb, has a median unit price of $500,000, according to RP Data, with a 9.5% change in the median price over the past year. Median asking rent is around $435, representing an indicative gross rental yield of 4.5%.
Harcourts Solutions Inner City's Bridget Gabites said that the developer believes that in most complexes the pool and gym are rarely used, and therefore decided not to include them. Instead, there's a shared green space.
“What this means is very inexpensive body corporate costs, with only building insurance, administration and basic maintenance costs to service,” said Gabites.
While homeowners frequently desire the amenity of pool inclusions, many investors are not interested in the features, often seeing them as more of a benefit to the tenant than to their investment.
The 20 apartments are also said to be easier to increase rental returns due to less competition within the complex.
“In larger complexes rentals are priced competitively against others available in the complex, therefore often reducing rental return under heavy competition,” she said.
The apartments are also pet-friendly, and start from $368,000 for a one-bedroom, one-bathroom home with a car space. Two-bedroom apartments with a courtyard start from $495,000.
Value for money, particularly when comparing cost per square metre to other local apartments, is another hook being used to attract investors.
“The price per square metre of Evoque apartments starts at $5,456. When comparing this to similar developments in the area, the price per metre is $6,694,” she said.
One apartment in the complex, a 64 square metre courtyard apartment (one of just two with this feature) with two queen-sized rooms, built in robes, open plan living/dining and a carspace, was <a target="_blank" href="https://www.realestatebrisbanenorth.com.au/kelvin-grove-51-gibb-street-by-bridget-gabites">advertised for price negotiation over $495,000</a>. It is 132 square metres (including courtyard) and includes airconditioning.
Located at 51 Gibb Street, and offering access to a hospital, university, CBD and Kelvin Grove Urban Village, it’s also near a school.
The construction is now due for completion in March, although previous suggestions had been for a late-February completion date. In December 2013, four of the apartments were under offer.
<a target="_blank" href="https://www.propertyobserver.com.au/news/kelvin-grove-to-welcome-cs-development-s-third-project-victoria-park-residences/2013110766233">Another development in Kelvin Grove, CS Development Group’s third apartment project</a>, called 'Victoria Park Residences', features 118 one- and two-bedroom apartments on a 4,000 square-metre site. The development includes a pool, sundeck, barbecue facilities, gym and outdoor workout zone.
It includes one-bedroom apartments ranging in size from 68 square metres to 79 square metres, priced from $343,000, and two-bedroom apartments ranging in size from 83 square metres to 105 square metres, starting from $469,000.
jduke@propertyobserver.com.au
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>.
Images are artist impressions.
 
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No gym and no pool a selling point for Kelvin Grove’s Evoque

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Roads and key state infrastructure projects are being fast tracked in Melbourne’s newest suburbs, according to new guidelines launched by Planning Minister Matthew Guy today.
The guidelines, known as the Growth Areas Infrastructure Contribution (GAIC) Works-in-Kind (WIK), are looking to allow the development industry to deliver the infrastructure earlier than what was initially planned for by providing capital works, rather than paying cash. Previously, the GAIC was required to be paid as a cash levy. The charge was designed to cover the contribution of funding essential State infrastructure in Melbourne's growth areas.
Current 2013/2014 fees are, for Type A land, $86,580 per hectare, and $102,810 per hecatre for Type B-1, B-2 and C land.
“As people move in to new suburbs, we want them to have immediate and easy access to connected roads and transport, employment opportunities and nearby community facilities,” Guy said.
“That is why the new GAIC Works-in-Kind system is so important. Potential projects include provision of an interchange on the Hume freeway, a road overpass in the western growth corridor and a potentially new railway station in the northern growth corridor.”
The <a href="https://www.propertyobserver.com.au/news/the-senate-s-inquiry-into-affordable-housing-six-submissions/2014013067451" target="_blank">issue of developers needing to stump the money upfront</a> has been pointed out many times as one of a number of potential issues surrounding housing affordability, as the costs are then passed on to those buying into the areas. Whether or not this will help bring prices down for new developments and communities remains to be seen.
“These new guidelines will help achieve new infrastructure and promote a more efficient way of planning and delivering growth area infrastructure,” he said.
New housing and infrastructure can be delivered in parallel, “removing the costly need to acquire land later” and allowing an improved integration of public and private facilities.
Infrastructure including arterial roads and freeways, footpaths, walking and cycling trails, health and education facilities, libraries, community facilities, IT infrastructure and stormwater management will all be covered under these guidelines. These can be provided or funded to offset the current charges.
The Metropolitan Planning Authority will be in charge of the process.
“With locations gradually opening up for large-scale residential development in coming years, this is just one way the Coalition government is managing Melbourne’s growth and delivering infrastructure that will benefit future residents,” he said.
The <a href="https://www.dtpli.vic.gov.au/planning" target="_blank">guidelines are available online</a>. 
*Note: This is an amended article. The original article incorrectly stated that the new guidelines were intended to remove levies from developers. 
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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New guidelines bring forward infrastructure: Planning Minister

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The much anticipated housing finance figures for December from the Australian Bureau of Statistics were released this week, and saw an interestingly mixed number of responses.
The drop in the number of home loan approvals had 1300HomeLoan’s managing director John Kolenda saying that this softness highlights the <a href="https://www.propertyobserver.com.au/news/reserve-bank-keeps-rates-on-hold-in-first-meeting-of-the-year/2014020467523" target="_blank">need for the Reserve Bank of Australia to remain on the sidelines</a>.
Meanwhile, ANZ Research’s Paul Braddick and David Cannington pointed to the strength and “solid up-trend” being seen in the market, while noting that the RBA is likely to stay on hold for some time.
And Real Estate Institute of Australia (REIA) president Peter Bushby pointed to the lowest monthly increase, in trend terms, for the number of owner-occupied finance commitments in the past 12 months.
Kolenda said that the RBA needs to be cautious not to dampen the current environment, particularly in terms of consumer sentiment.
“The RBA should leave rates where they are for at least the next six months until we see an improvement in other sectors such as unemployment, which remains an area of concern,” he said.
“Any premature increase in rates is likely to change consumer sentiment back to being conservative.”
Braddick and Cannington’s research said that despite improvement in consumer sentiment through the second half of 2013, and strong retail sales in recent months, interest rates are expected to stay low for an extended period.
“Combined with strong population gains and pent-up home buyer demand, we expect this will maintain solid growth in home sales, prices and finance through 2014. Moreover, rapid growth in finance for residential construction and the purchase of new dwellings foreshadows further gains in building activity into 2014,” they explained.
Further gains are also reflected in elevated clearance rates and the momentum in house prices they said, with further gains in finance commitments expected.
New South Wales is currently leading other states in terms of housing finance growth, likely reflecting the hot market experienced by Sydney last year, with investor finance up 47% over the year to November and owner occupier numbers appearing strong – though they noted it was at half this rate.
Bushby agreed that investors were continuing their strong presence in the market, with almost three years of consecutive increases now being recorded.
He also pointed to the increase of first home buyer commitments, from a record low.
“The proportion of first home buyers in the number of owner occupied housing finance commitments rose from its historically lowest point of 12.3% in November 2013 to 12.7% in December 2013. The figure is alarmingly lower than the long-run average proportion of 19.9%, despite eight interest rate cuts since November 2011,” he said. <a href="/news">First home buyer numbers have been slumping for some time</a>, according to this data.
“December 2013 results highlight the need for Government to act on housing affordability and to stem the rapid decline in the number of first home buyers."
Premier of Tasmania, Lara Giddings, thinks that the strength of first home buyer numbers in Tasmania is attributable to the $30,000 First Home Builder Boost, with new loans to first home buyers up 20.4% for the year.
<div id="content_div_218957">
“Since the First Home Builder Boost was increased to $30,000 late last year there have been more than 70 successful applicants," Giddings said.
“That is on top of the 250 that received the $15,000 grant that formed part of the original Jobs Package."
</div>
See over page for data breakdown
 
 
<hr class="system-pagebreak">
 The raw data 
Trend estimates (percentage change from November 2013 to December 2013)
VALUE OF DWELLING COMMITMENTS
Total dwellings: 1.8
Owner occupied housing: 1.0
Investment housing - fixed loans 3.0
NUMBER OF DWELLING COMMITMENTS
Owner occupied housing: 0.3
Construction of dwellings: 1.1
Purchase of new dwellings: -1.1
Purchase of established dwellings: 0.3
Seasonally adjusted estimates (percentage change from November 2013 to December 2013)
VALUE OF DWELLING COMMITMENTS
Total dwellings: 0.1
Owner occupied housing: -1.5
Investment housing - fixed loans 2.9
NUMBER OF DWELLING COMMITMENTS
Owner occupied housing: -1.9
Construction of dwellings: 0.4
Purchase of new dwellings: -1.9
Purchase of established dwellings: -2.2
Source: Australian Bureau of Statistics
Last month’s housing finance data was also said to be a “mixed bag”. You can see <a href="https://www.propertyobserver.com.au/finance/housing-finance-data-a-mixed-bag/2014011367175" target="_blank">the industry responses to that data set here</a>.
What are your thoughts on the housing finance data? Head to <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5609.0" target="_blank">the full data available on the Australian Bureau of Statistics for more detailed breakdowns</a>.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Housing finance data sees mixed responses

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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