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We recently looked at the <a href="https://www.propertyobserver.com.au/victoria/five-of-the-most-beautiful-homes-currently-on-the-market-in-victoria/2013112766650?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=topstories" target="_blank">five most beautiful properties on the market in Victoria</a>, and promised to get to the other states and territories in subsequent weeks.
Here we looked for the five homes, be they apartments or houses, that had us in awe from across New South Wales.
Vote on your favourite, and send in any that you have seen.
5) <a href="https://www.kenjacobs.com.au/549366/" target="_blank">2/11 Gladswood Gardens, Double Bay</a>
This waterfront beauty at circa 1860 sandstone Gladswood House has traditional architecture combined with contemporary design. The three-bedroom, two-bathroom apartment does actually feel more like a house than anything else.
With three car parks and in a cul-de-sac in Double Bay, it has views of the harbour, and comes with a $4.9 million price tag.
With fireplaces, timber panelling, mosaic tiled ensuite, herringbone parquetry floors and plantation shutters, it's a beautiful residence.
It has a gorgeous balcony, which we can see from the photos, and is one of the most amazing apartments we have seen.
Originally, the house was called Seaford House, before being re-named Glenyarrah and then, finally, taking the title Gladswood House. It was previously on the market from 2008 to 2010, according to RP Data, without achieving a sale.
{yoogallery src=[images/stories/2013/12/02/dou]}
 
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4) <a href="https://www.ianrayner.com.au/search/display.aspx?ln=1795977" target="_blank">28 Ranelagh Road, Burradoo </a>
This four-bedroom five-bathroom house has $4,950,000 expectations. The circa 1930s home is on two acres with timber parquetry flooring, high ceilings, and a northerly aspect.
It also has a conservatory and a library, and the overall feel of the property is that of a grand country manor house.
It has five garage spaces and last sold for $3,030,000 in 2002 (RP Data). It was listed in July this year for $4,950,000 having been listed in February 2012 for $5,500,000.
{yoogallery src=[images/stories/2013/12/02/bur]}
 
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3) <a href="https://www.cbrealestate.com.au/buying/NSW/Macarthurorcamden/Denham-Court/Acreage/40P5409" target="_blank">30 Cubitt Drive, Denham Court </a> Asking for offers over $3.2 million the listing dubs this property "The most famous home in south-west Sydney". With five-bedrooms, six-bathrooms and on 2.5 acres of land, it's fairly gorgeous with a stunning inside swimming pool.
A Georgian-style property built in 1992, it has a gated entry, a private study, an 'award-winning' kitchen, floodlit championship tennis courts, a gym, a spa and a wine store.
With off-street parking for 20 cars, as well as a three car garage, it is certainly one for the entertainers. Some of the rooms are very bright colours, however the outside entertaining areas are absolutely gorgeous.
{yoogallery src=[images/stories/2013/12/02/den]}
 
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2) <a href="https://wahroonga-pymble.ljhooker.com.au/8GMGZ6" target="_blank">10 Alma Street, Pymble</a>
Last sold for $3,150,000 in July 2008, this property on 1,794 square metres is circa 1930 and has been extensively renovated. Named "Camberwarra" it is a five-bedroom, four-bathroom beauty with a dressing room in the master quarters.
With a swimming pool, tennis court and a teenage retreat, it also has french doors opening to the outside pool.
Tallowood flooring and coffered ceilings are throughout.
The light and airy feeling of the photographs, while keeping a more traditional feel to the overall design, have secured this property a spot on the top five list. Look at those beautiful windows!
{yoogallery src=[images/stories/2013/12/02/pym]}
 
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1) <a href="https://www.wardpartners.com.au/buying/NSW/North-Shore-Lower/Hunters-Hill/House/1P1062" target="_blank">14 Vernon Street, Hunters Hill</a> Last selling in 1992 for $1,775,000, this waterfront mansion is stunning. With five-bedrooms and five-bathrooms, it is dubbed Puerto Galera after the an area in the province of Oriental Mindoro in the Philippines.
It has an Italian veranda, a master suite with spa, separate guest accommodation, a garden pool and gazebo, gym, home theatre, wine cellar, bar and a three-car garage.
{yoogallery src=[images/stories/2013/12/02/hunt]}
 
{module Which of these NSW homes is your favourite?}
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
 
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jduke-EHk3XBmHkn

Step inside five of the most beautiful residences in NSW

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A true Christmas present for first home buyers would be the reintroduction of government incentives for existing properties, the Real Estate Institute of New South Wales president Christian Payne said.
With rising prices and increased turnover sending stamp duty higher, a potentially shooting he budget into surplus, Payne said that the NSW government should take this time to act, giving first home buyers a much-needed boost into Christmas and the support they need.
“We are approaching a very significant time where families come together to celebrate. It’s also a time of evaluation where life decisions and major changes can be made,” said Payne.
“Our fear is that many will visit friends and family outside the state over the festive season and reconsider their future in NSW due to their inability to purchase property here.”  
He said the best time to reintroduce incentives is before Christmas.  
“The return to surplus announced by the NSW government at the beginning of November means that the funding, which was largely provided by the property market with massive bracket creep on stamp duty rates in the first place, should be available to be distributed to first home buyers,” he said.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Government Christmas gifts required by first home buyers: REINSW

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The criteria for planning matters that can fall under the Victorian Civil and Administrative Tribunal (VCAT) major cases list has been broadened to include all developments in a residential growth zone.
The changes, taking place from December 1, ensure that all developments in a residential growth zone, including residential of any value, are now eligible.
Previous to this, developments containing homes, such as a unit development, could only be heard on this list if they had an estimated value of $10 million or more. Those without homes within them could opt in regardless of value.
The threshold, however, still applies in any other zone (neighbourhood residential zone and general residential zone). Councils have until July 1, 2014 to introduce the new zonings.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Major case status given to any development in residential growth zone: VCAT

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Amendments to new planning legislation remove the code assessable development community consultation process, leaving New South Wales different from Victoria and Queensland where similar initiatives are currently in place.
Minister for Planning and Infrastructure, Brad Hazzard, said that the removal of this aspect of the legislation effectively reduces the say from the general public.
"Queensland and Victoria have used similar systems for years and their communities have benefitted from the upfront consultation and the certainty as to what development will occur where," said Hazzard.
"NSW currently has only limited complying code provisions which sees 27 per cent only of developments approved this way."
Currently, Queensland sees 80% of developments approved through codes and Victoria has 76%.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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NSW planning to remain far cry from Victorian and Queensland counterparts

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A North Queensland members of Parliament insurance action plan discussion has revealed that the system into insurance premiums and insuring properties in the area is set to undergo rigorous changes.
Cairns Member, Gavin King said that rising insurance premiums are a significant problem for the future development of North Queensland.
“The insurance premium crisis has reached a level that some homeowners are no longer taking out insurance on their properties because they cannot afford the dramatic rise in premiums,” King said. The insurance action plan calls for several proposals to look at the issue.
Proposals under the action plan includes the need for greater awareness and education for consumers, a call for the federal government to consider expansing the Australian Reinsurance Pool Corporation to segments of the market facing acute pricing issues, a central online database to assist insurers provide more accurate calculations, greater transparency and a call to review risk assessment methodologies used by insurers.
"Currently, insurance companies use post codes rather than individual property information to determine insurance premiums. The lack of a sophisticated system means that properties face premiums in-excess of the actual peril/risk of damage," the action plan reads.
It notes that in the same way insurers current take into account the detailed data on home security when calculating premiums (down to deadlocks and security screens), the same should occur for the resilience of individual properties to natural disasters.
"Once insurers install more sophisticated systems it is anticipated that consumers will be able to provide more detail, data and information about their properties to insurers so that their premiums can be priced fairly," it notes.
Calling for a review into risk assessment methodologies used by insurance companies they noted that the focus should be on strata insurance premium calculations and the driver behind increases. Three potential reasons included:
- A failure to consider changes in building codes
- The costs of reinsurance, historically inaccurate or inadequate assessment and pricing of risk
- The result of market forces, including heavy discounting.
A more rigorous analysis is expected.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Queensland targets homeowners put off insurance by premium rises

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A split-level house in Queensland's Normal Park is set to go to auction this month, and it brings along a heritage story.
The <a target="_blank" href="https://www.realestate.com.au/property-house-qld-norman+park-115373963">10 Power Street</a> home was built in 1904 by the historic Galloway family.
We're told that the historical events and details of this time are not extensively documented, however the Galloway family bought the land in the late-1800s from a Courier Mail advertisement at the time, noting it as "prime agricultural land admirably adapted for sufar or cotton growers, market gardeners, dairymen and general farmers."
John James "JJ" Galloway was a progressive dairyman in the area. Galloway's Hill is named after JJ Galloway.
The five-bedroom, four-bathroom house will be auctioned at 6.30pm on December 12 in East Brisbane having been on the market for two weeks.
Marketing the property for sale is Place's Matthew Hackett who said that colonial-style homes are hard to find.
“The house has been renovated many times over the years, with a full renovation last taking place around 15 years ago, and the most recent update taking place in 2012, but the original components of the house have been retained," he said.
“This property has all the normal features of turn of the century Queensland houses, including tongue and groove walls, wide polished timber floors, French doors and a wide front verandah.”
The 810 square metre property also includes a four-car garage, an oversized pool deck, an in-ground pool and a poolside entertainment room.
The Ascot-Neiman Brafords family history website notes that it was in 1850 when Cornelius 'Con' Galloway moved from Scotland to Sydney, and worked as a journalist for the Sydney Herald. He later chased gold throughout Australia and into New Guinea. He moved to Brisbane, Ipswich, Hympie and Roma and commenced and was part of the newspapers in those localities.
His son was JJ Galloway who became a timber man and blacksmith in the area.
RP Data notes the last sale as the 15 September 2007 for $1,825,000, having previously transacted in August 1997 for $450,000. Previous to that, in March 1987, the property sold for $180,000.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Historic Norman Park colonial house to be auctioned mid-December

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Discussions I have with Property Observer reporters and those at other property media outlets have become increasingly concerned with the terminology around "foreign" property buyers. That is, when writing a story about buyers from other countries, how can we avoid the story coming across as unintentionally racist, and how to avoid making sweeping assumptions about different groups.
Whenever any writer is dealing with a group of people identified based on their race, there's this sudden difficulty of 'othering' this group.
Let's look at some of the phrases being thrown around. "Asian buyers", "Chinese buyers", "Foreign investors", "Overseas buyers". These are typical terms you're likely to see in any property media, including Property Observer, and it has been a while now that I have had an irritated itch about the right way to phrase this.
A number of readers and commenters have written in saying things to the effect of being concerned about "foreign buyers" taking over the country. One even pointed out that this was directly the result of having read so many articles about the phenomenon.
So who are these "foreign buyers"? Does someone from New Zealand fall into your perception of a "foreign buyer"? How about someone who has left Australia to seek residency elsewhere? How about someone who has achieved residency here, but wasn't born here?
According to the Department of Immigration and Border Protection, 85% of Australian residents have Australian citizenship.
With one in four Australians (2011 Census) having been born overseas - and I am on this list myself - and 43.1% of people having at least one parent born overseas, how 'foreign' someone is can be very hard to define.
This is even when running off of the dictionary definition, such as the <a target="_blank" href="https://www.oxforddictionaries.com/definition/english/foreign">Oxford English Dictionary which gives the word two meanings</a>:
1) Of, from, in, or characteristic of a country or language other than one’s own
2) Strange and unfamiliar
The term "foreign" is fraught with difficulty to use and is painfully vague - we'd also hate for the second meaning to get tied up in a story. In the hope for clarity, we journalists decide to narrow this term down further.
Perhaps we're only looking at Chinese buyers - a source of fascination for many, it seems. So we refer to "significant interest from Chinese buyers".
But what exactly does this mean? Who are these Chinese buyers?
How can we define who is Chinese, and who is not? I read many auction reports noting that there were "many Chinese buyers in attendance". Does having a Chinese surname make you Chinese? Are we discussing Chinese heritage?
Do they live in Australia, but were born in China (6% of the population, 2011 Census)? Perhaps they have Chinese parents, and maybe they personally identify as Australian as they were born here, or maybe they were born in London with Chinese parents. Perhaps we're discussing those who primarily live overseas.
Let's narrow this down further then. Let's talk solely about the mainland Chinese buyers - and our style guide urges us not to refer to China as mainland China, even though it doesn't say we cannot refer to mainland Chinese buyers.
But then we have to know whether or not they have Australian citizenship. This information can be difficult to come across when looking at broad statistics, let alone for specific buyers at an auction when you may not even get access to the list of names.
Our visa system can also, for the uninitiated, be notoriously complicated. For instance, here's a <a target="_blank" href="https://www.accci.com.au/brett.htm">breakdown from the Australia-China Chamber of Commerce and Industry of New South Wales website</a>.
Regardless of who is buying, if they are citizens, or on permanent visas, then in my mind they're the same as every other property buyer and I think we'd be hard pushed to make a non-racist case that their buying habits are necessarily different from anyone else's. In fact, even though there's this thought that Chinese buyers who have permanent residency or citizenship may still have a certain way of buying, it's hard to find much proof outside of suburb-specific qualitiative research.
There are certainly different cultural norms, and we know from areas such as Cabramatta in New South Wales and Carlton in Victoria that ethnicities can concentrate together in suburbs. As someone with English heritage and English family members, I'm aware that older members of the British buyer category quite frequently dislike apartment-style living. But this by no means applies across the board, and it's not even consistent across China, or across age groups and income groups.
Even if we were able to identify every single Chinese person buying a property in Australia who does not have permanent residency or citizenship, and were privvy to that information (let's see what we can get from the Government, specifically the Foreign Investment Review Board who channel all of the applications), it's hard to know specifically what we would be gaining. The overarching numbers are important, the suburb/LGA specific data as to where different people are buying is interesting too, but do we need to go much further?
There's a lot that needs clearing up here, but the main area that needs discussion is the reason why we're talking about these buyers in the first place. Just because someone sees a lot of Chinese people at an auction, doesn't actually mean anything. Imagine if we did the same thing with English buyers, and tried to identify who they are (and therefore what their purchasing habits might be) based on their surname and their face.
We've written plenty of articles on how to attract 'Chinese' buyers and what they want in a property, but these can often be sweeping assumptions even with information garnered from a range of sources. Property Observer and, from what I can tell, other publications, do intend to keep writing stories about this area of interest, but we're going to need a better plan of attack for how we approach this.
So I'm calling on you to give us some ideas on what you think needs clearing up across the media, and how we can go about it.
Email me: <a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a> with your thoughts.
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Letter from the editor: Talking about "foreign" buyers

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It's the end of the week again, and we're getting closer and closer to Christmas. This week has been particularly busy for property, with athletes and politicians having open homes and sales, and we've all been on the edges of our seats.
So, how closely were you watching?
1) Which retired spin bowler's property sold this week in Brighton? Hint - have a look at the number at the bottom of the pool.
<img alt="kilkerran-nov-26-breakout" height="264" width="470" src="/images/stories/2013/11/29/kilkerran-nov-26-breakout.jpg">
2) Which nation-wide mortgage broker has ASIC fined $30,600 over false advertising? Hint - If you were watching closely, you may have seen the 'Save $10,000 over five years' ads.
3) From which real estate agency did the following property description come from?
Unlike Alice in Wonderland, there will be no need to drink a concoction that has mixed flavour of cherry-tart, custard, pine-apple, roast turkey, toffy, and hot buttered toast to enter the garden behind this quaint cottage.  No need to find a tiny golden key, although there is a great chance you will discover one.
4) Which developer and construction giant welcomed their first guests at M&amp;A, their first major mixed-use development in Australia?
<img alt="fortitude-valley-nov-27-breakout" height="264" width="470" src="/images/stories/2013/11/29/fortitude-valley-nov-27-breakout.jpg">
5) Which ex-politician's Altona property attracted serious queues at its home open last weekend?
<img alt="BZurrpbCQAAsQre" height="353" width="470" src="/images/stories/2013/11/29/BZurrpbCQAAsQre.jpg">
6) This week was particularly dedicated to a dangerous substance putting DIYers, property owners and tenants at risk. What is this material called?
7) Which regional NSW town recently saw itself lose a major employer, Electrolux, in a blow to the area's confidence?
8) We recently took you on a tour through Peppermint Grove, one of Australia's most prestige suburbs, before turning our attention to the other side. Which cheapest city suburb did we have a look at?
BONUS QUESTION FROM THE VAULT
9) This property in Mount Eliza was a mortgagee sale in 2012, and a big time Aussie celeb decided to inspect it. He didn't end up purchasing the beauty (and the reasons why were left to debate). However, who was the celebrity? Hint - He's an actor, born in Sydney, and you've seen him on the big screen in some significant roles.
<img alt="pelican_0010_image11.jpg" height="353" width="470" src="/images/stories/2013/11/29/pelican_0010_image11.jpg.jpg">
See over page for the answers! Don't peek...
 
 
 
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Answers
1) <a href="https://www.propertyobserver.com.au/news/successful-sales-spin-secures-shane-warne-s-brighton-mansion-sale/2013112566586?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=trophyhomes" target="_blank">Shane Warne</a>
2) <a href="https://www.propertyobserver.com.au/finance/asic-penalises-mortgage-choice-for-claims-of-saving-customers-%2410k-over-five-years/2013112766653?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">Mortgage Choice</a>
3) <a href="https://www.propertyobserver.com.au/news/real-estate-advertisements-with-copywriting-flair/2013112466572?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=mostread" target="_blank">Hoch &amp; Wilkinson</a>
4) <a href="https://www.propertyobserver.com.au/news/fortitude-valley-s-ma-development-welcomes-first-guests/2013112666618" target="_blank">Laing O'Rourke</a>
5) <a href="https://www.propertyobserver.com.au/news/julia-gillard-s-altona-open-for-inspection-with-modern-fruit-bowl-not-included-in-%24600000-pricing/2013112366560?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=mostread" target="_blank">Julia Gillard</a>
6) <a href="/news">Asbestos</a>
7) <a href="https://www.propertyobserver.com.au/new-south-wales/nsw-city-of-orange-losing-investment-hotspot-status-even-before-electrolux-shock/2013112566590" target="_blank">Orange, NSW</a>
8) <a href="https://www.propertyobserver.com.au/tasmania/a-stroll-through-australia-s-cheapest-city-suburb-gagebrook-tasmania/2013112666617" target="_blank">Gagebrook, TAS</a>
BONUS QUESTION ANSWER
9) <a href="https://www.propertyobserver.com.au/victoria/grand-mt-eliza-home-passed-up-by-hugh-jackman-listed-for-auction/2012082956284" target="_blank">Hugh Jackman</a>
 
 
{module How well did you go this week?}
 
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
MORE TRIVIA, IF YOU CAN'T GET ENOUGH - <a href="https://www.propertyobserver.com.au/news/property-trivia-knockout-houses-%241-houses-purple-properties/2013112166540" target="_blank">Property trivia: Knockout houses, $1 houses, purple properties</a> - <a href="https://www.propertyobserver.com.au/news/property-trivia-how-close-were-you-watching-this-week/2013103166078" target="_blank">Property Trivia: How close were you watching this week?</a>
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Property trivia: Spin bowlers, actors and pollies

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At the Consumer Trader and Tenancy Tribunal (CTTT) earlier this month, landlords Simon and Marilyn Hoft were paid $3,220 by tenant Laurie Driscoll.
The landlords' claim for compensation was based on the breaking of a fixed lease from the tenant. Driscoll counter claimed for refund of rent and moving costs due to breach of quiet enjoyment and the leasing on adjoining illegal premises.
Directions hearings were held on 19 June 2013 and 17 July 2013, and matters were heard on 1 October 2013.
The lease began in Bangalow in March 2013, with a fixed term of eight months from 1 March to 25 October, at $420 per week.
On 25 April, the tenant wrote to the landlords' agent to end the tenancy immediately, and vacated on 26 April.
A new tenant was found for 25 June 2013.
While the tenants' claim is that the landlords were breaching the tenancy agreement, the tenant did not give the landlords a termination notice, nor apply to the Tribunal for a termination order.
"I am satisfied that the tenant abandoned the premises during the fixed term. There was a clause in the agreement providing that if the lease was broken the tenant had to pay a re-letting fee of 1 week rent plus GST, a lease fee of $33.00, advertising fees of $285.00 and the loss of rent until a new tenant was found," the ruling found.
The landlords did not claim for all of the remaining rent, just for payment of loss of rent until the new tenant was found.
As the landlord advertised straight after Driscoll left, they were judged favourably as having done everything possibly to mitigate the loss.
Rent had been paid up until 10 May, so the tenant was required to pay from 11 May to 25 June, or 46 days. 
The total amount was said to be $3,540 owing.
The tenant was not found liable for $66 for an electrician to attend the premises, due to a claim about no hot water. This was due to a booster switch having not been turned on, that the tenant may not have known about.
The tenants argument related to the nature of the premises. The tenant rented the upstairs section, while the downstairs section had another tenant. The downstairs section had not been passed by a local authority for use of residence, and so the tenant claimed that the whole residence was not fit for habitation. Photographs used as evidence showed that the upstairs section was actually of good quality.
Noise from the tenant downstairs, however, did assist Driscoll's case as it was noted no tenant should have been in this area. Compensation was assessed at $320, to be deducted from the amount owing to the landlord.
The tenant also claimed safety and fire issues with the property, however as the tenant did not contact the landlords' agent, whose details had been provided, this was unable to be proven.
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Landlord paid $3,220 by tenant after CTTT hearing

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The internet is a source of a huge amount of information, and often it can be tough to sift through. There are hundreds of fantastic websites and portals that can provide you with a range of information, no matter what it is your after. Calculators? News? Renovation tips? You bet.
There are websites that are worth visiting on a daily basis, and some that offer more information than you'd ever realise.
Here are our favourites.
1) <a target="_blank" href="https://www.houzz.com/">Houzz</a>
This home renovating, decorating and improvement resource is not only filled with photos, but they want readers to send in their own. Founded in California, it's the place for property envy, continual staring at beautiful mansions and homesteads, and inspiration for that renovation you've been dying to undertake.
They also have functions where you can buy products and find local experts, but for Australian readers the best part is being able to browse design ideas room-by-room for free. You also get to create an 'Ideabook' for each room and save photos, much like a property version of Pinterest.
There are some really nice DIY ideas as well, for those looking for homestyling ideas.
2) <a target="_blank" href="https://somersoft.com/forums/">Somersoft</a>
While everyone has their preference for a forum, Somersoft has one of the easiest interfaces. It's regularly visited by industry members, as well as investors of all levels, and all information should be looked at critically, but it's generally a friendly place to ask a question. The search function will open up a world of answers to questions you may never have even thought to ask, from legal and accounting to property management and tenant laws.
Somersofters also regularly meet up in different cities.
3) <a target="_blank" href="https://home.id.com.au/">.id (informed decisions)</a>
A truly fantastic resource, .id is one of the best visualised demographic resources available. Regularly used by local councils and other bodies, they use Census data and present it in a way that is actually manageable for those who are not demographers.
They regularly profile different areas and provide forecasting information, tables, graphs and charts. They also have an economic information hub as well.
We especially like their blog, which orientates those interested in data in a far more meaningful way. Discussing population changes, and just topics of general interest, it's worth a click.
4) <a target="_blank" href="https://hookedonhouses.net/">Hooked On Houses</a>
Written by Julia, an Ohio-based blogger, Hooked on Houses is a great source for all-things property. Showcasing before and after pictures from readers, designs she likes the most, and properties from American films, if you're interested in beautiful overseas properties then this is the place to be.
Unfortunately, despite the fun content, we seem to get a lot of pop ups and strangely diverted clicks, which hinders the experience.
What are your favourites?
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Four websites for property investors and owners

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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