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It can be difficult to face heading to the Victorian Civil and Administrative Tribunal in the case of a difficult tenant, particularly if you're going there for the first time, however a property manager explains how to increase your odds.
Launching her new property management agency, Qura Property, Samantha Gatherum-Goss discussed how to ensure you have a better chance of winning at VCAT.
Held at La Notte Restaurant in Carlton, Property Observer attended to get some of the top tips:
- If you can avoid heading to VCAT, then do so: It can be a lengthy process, it's common to make mistakes and tenants are often favoured. If there is a way to come to an arrangement by negotiating with your tenant, or sometimes dealing with a small loss, it may be worthwhile.
- Dress appropriately: Don't come in your casual clothes, but don't look too dressed-up either.
- Ensure you explain how you are being financially inconvenienced.
- Have all your notes together: Even if you are only going there for rental arrears, bring all of your information with you. Consider an indexing system so you can quickly find what you might be asked for.
- Photographs are important: If there are a large number of them, bring your laptop instead with them easily found. You can print them all out, but it's not recommended. If you don't have photographic evidence of what you have found, you cannot support your case.
- Ensure you have served the correct notice periods: Don't forget there are three days for postage not stated in the notice period. So think 63 days, rather than 60, and so on.
- Be confident, not cocky.
- Speak to your tenant: Be reasonable, explain the reasons behind taking them to VCAT. Try and get everyone on the same page.
- Often about the VCAT member: Different members will respond differently to each tenant, therefore it's hard to know what to expect.
- Visit VCAT ahead of time to know what to expect: You can sit in on different decisions, so prepare and see what it's like.
- Bear in mind depreciation: If it's a 20 year old carpet you are heading to VCAT about a stain on, be wary of what compensation you will receive. Even if it's in mint condition, it is unlikely you will receive what you believe is replacement value.
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Property management tips for winning at VCAT

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Housing supply is at the heart of the changes being drafted to the NSW Planning Bill 2013, according to minister for planning and infrastructure, Brad Hazzard.
Due to the changes, the bill will not be introduced into parliament this week as expected, Hazzard announced, causing some anger from the industry.
“This legislation, when passed, will be the backbone of the planning system in NSW for the next 30 or more years so it is critical that we get it right,” he said.
“Whilst returning local government and communities to the centre of the planning system we must cut red tape that blocks increasing housing supply ensuring the dream of owning your own home is a reality for NSW families."
Changes currently being implemented include:
· Allowing councils to modify the State-wide codes to better reflect their local area
· Code assessable development will only apply in nominated growth areas (forexample around the North West and South West train lines or areas nominated bycouncils)
· The target for code assessable developments has been removed entirely
· Councils will be made to prepare Neighbourhood Impact Statements if they intendto implement code assessable development
· The full range of current land zonings will remain as they are
· Appeal rights will remain as they are
· Local and State heritage protections will continue
However, the decision to postpone the planning act is actually putting the housing industry, along with the economy and job creation, into jeopardy warns the Urban Development Institute of Australia (UDIA) NSW. 
UDIA NSW chief executive Stephen Albin said it is a "scare-campaign" that is disappointing.
“We have a serious housing shortage in this state and are struggling to meet demand," Albin said.
“How can this delay be presented as being in the community’s interest?”
He spoke in favour of the formely proposed planning system, saying that it would have adderessed issues such as delays and difficulties when delivering affordable housing stock.
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Changes to NSW planning sees mixed response

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Off-the-plan properties may just be the solution for investors who need to organise their finances or first home-buyers who currently do not have enough capacity to purchase.
While this option heralds many benefits, it’s important for both investors and home buyers alike to perform their due diligence and understand where many trip up.
First of all, buyers need to understand the market and why they’re opting for off-the-plan instead of an established property.
While this may sound straightforward enough, Dean Berman, principal of Sydney-based buyers’ agency, 37 Property Group, outlines a number of considerations to take on board.
Tracking change
Off-the-plan apartments run on the concept of putting down a deposit today and waiting for capital growth to kick in by the time the property is completed.
To avoid a potential purchase disaster, investors need to put in the hard yards and do their on-the-ground research.
“The main thing to look out for is obviously demographics, infrastructure, whether the market is going to be over or under-supplied and to understand the economics of the area,” Mr Berman says.
Investors could talk to local councils or visit the Department of Infrastructure website in their state to find out about projects that are underway or in the planning stage.
Supply and demand
Just as it is essential to consider the amount of supply in the existing market, investors also need to be aware of those becoming available.
Equally important are population growth and job opportunities in the area.
Mr Berman recommends comparing the last Australian Bureau of Statistics census against the most recent census to get a snapshot of how an area is changing.
For investors, historical trends such as vacancy rates and rental yield growth rate are also indicators to consider.
Mr Berman says investors could look at how vacancy rates have performed over the last five to ten years and that sub-two percent is a good benchmark.
Off-the-plan contracts
Purchasing an off-the-plan property involves entering a contract to buy a property that is not yet built.
Investors therefore need to find a professional lawyer who is able to comb through the details of the contract with them.
Mr Berman says investors need to make sure they are happy with the length of the sunset clause and make sure the contract is as detailed as possible.
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Tips for buying off-the-plan properties

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A senior Reserve Bank official has labeled talks of an Australian housing bubble as “unrealistic alarmism” amid growing concerns that low mortgage rates were artificially inflating property prices.
RBA assistant governor for financial stability, Malcolm Edey, told the Financial Services Institute of Australasia annual conference in Sydney this week that demand for housing is strengthening, but warns it is important to keep this growth in perspective.
"We shouldn't be rushing to reach for the bubble terminology every time the rate in house price increases is higher than average, because by definition that's 50 per cent of the time and you’re just going to be unrealistically alarmist by making that call every time that happens,” Edey said.
"And you're just going to be unrealistically alarmist by making that call every time that happens."
He explained that house prices over the last decade had risen at a slower pace than household incomes, but within that trend, there have also been cycles.
At the same time, the growth rate of property prices has also gone through a cycle.
“[There are] periods when the rates of increase in house price have been higher than average and periods when it’s been lower than average, we’re in one of the higher than average periods at the moment,” he said.
Edey has attributed the pent-up demand to the current low interest rate environment that is stimulating spending and borrowing.
"We are seeing that influence working at the moment in the housing sector, and that is not surprising because it is an interest rate-sensitive sector," he said.
Senior Property Economist at MacroPlan Dimasi, Martin Bregozzo, has also talked down the risk of a property bubble in Australia. He told Property Observer that investors just need to look to the returning of confidence to the housing market and a recovery to median property prices in capital cities from June/July this year.
Bregozzo believes the demand is also driven by families looking to upgrade.
“Those people are looking to lock in the extra space, like an addition bedroom while they can, while interest rates are low,” he said.
“If there’s the potential of the market picking up, then effectively, you’re building equity over that time.”
Asked about the signs of an emerging property bubble, Mr Bregozzo said the economy would be “absolutely steaming ahead” and be “awash with money”.
“The RBA will step in, and you’ll have a rising interest rate environment, a lot job security, and there’ll be so much confidence out there that it will almost be bordering on hubris,” he said.
Mr Bregozzo said Australia’s housing shortage is also expected to absorb much of the stock and act as a potential check and balance in the housing sector.
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Property bubble risks talked down by experts

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Sydney’s west is absolutely booming, according to real estate agents at the coalface, however it might just be too hot for investors who are starting to look now and aren’t willing to be discerning.
With evidence of certain sales above that seen several months ago (see below), and competition heating up in the more affordable suburbs, Raine &amp; Horne CEO Angus Raine said that it’s an obvious surge.
“It’s clear the surge in real estate activity has spread to Sydney’s outer ring suburbs, with our offices in Liverpool, St Marys and Penrith reporting that first-home buyers and investors are snapping up the shrinking pool of homes for sale,” said Raine.
Property buyer’s Rich Harvey told Property Observer that some people get scared about a hot market and fear it’s going to turn into crazy buying. Sometimes, they’d be correct.
“Mistakes can be made in a hot market because they make emotional decisions rather than rational decisions. At the affordable end of the market, low interest rates are driving buyers. There’s very strong competition and it’s getting harder to get properties off market, they’re usually being put up for auction or tender,” Harvey said.
“It’s not necessarily time to stay away. In a warmer market there’s more transactions and the ability to make a quick equity gain is there,” he said, pointing to opportunities in every market provided the right price is paid on the way in.
However, Sydney’s west was<a href="https://www.propertyobserver.com.au/new-south-wales/insights-into-investing-right-property-group/2013091565032?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews" target="_blank"> recently said to be ‘too hot’ by Sydney-located buyer’s agency Right Property Group</a> at their Melbourne seminar that Property Observer attended. They said that while they’d been bullish in the western Sydney market, particularly around <a href="/news">Mount Druitt</a>, for several years, they have now backed off.
The sales evidence:
<a target="_parent" href="https://www.realestate.com.au/property-house-nsw-edensor+park-114661363">10 Wagstaff Street, Edensor Park</a> (pictured below)
Unfinished, four-bedroom house, mortgagee-in-possession
34 bidders, more than 100 attended
Auction: more than $100,000 above reserve
Median price for similar properties in the area is $500,000. The lower interest rates are mobilising buyers.
Source: Raine &amp; Horne Liverpool, Vince Labbozzetta
{yoogallery src=[images/stories/2013/09/19/ed]}
 
<a target="_parent" href="https://www.realestate.com.au/property-house-nsw-oxley+park-114524991"></a>
<hr>
<a target="_parent" href="https://www.realestate.com.au/property-house-nsw-oxley+park-114524991">63 Canberra Street, Oxley Park</a> (pictured below)
 
Three-bedroom house, double lockup garage, 860sqm, land zoned 2c
Auction: $40,000 above reserve
The market is hotting up because interest rates are low and rental returns are generating healthy gross returns around 5%.
Properties such as 63 Canberra Street, Oxley Park are attracting first home buyers, investors, self-managed super funds and those looking for good size blocks that can easily house a separate granny flat.
Properties in St Marys and surrounding suburbs are often selling within give days at up to $20,000 above expectations.
Source: Vince Turner, Principal of Raine &amp; Horne St Marys
{yoogallery src=[images/stories/2013/09/19/ox2]}
 
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-st+marys-114803083"></a>
<hr>
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-st+marys-114803083">58 Mamre Road, St Marys</a> (pictured below)
 
Under contract within 48 hours of listing
Listed at $335,000
Sold for $350,000
Source: Raine &amp; Horne St Marys, Vince Turner
{yoogallery src=[images/stories/2013/09/19/st]}
 
<a href="https://www.realestate.com.au/property-townhouse-nsw-werrington-114843435" target="_blank"> </a>
<hr>
<a href="https://www.realestate.com.au/property-townhouse-nsw-werrington-114843435" target="_blank"> 117-119 Victoria Street, Werrington</a> (pictured below)
 
Off-the-plan
Sold for $12,000 more than in June
Three-bedroom townhouses
$349,000 each (similar properties sold on the same street for $337,000 three months prior)
These properties will rent for $420 to $40 a week.
The market under $400,000 is strong with new apartments and townhouses jumping in value by about $12,000 in the past three months
In August 24 properties were sold, including 12 townhouses off the plan.
Source: Raine &amp; Horne Penrith, Gary Rossetto
<img alt="werrington-spet-19-two" height="167" width="470" src="/images/stories/2013/09/19/werrington-spet-19-two.jpg">
The heat of the market, and the growth, is not solely being experienced in Western Sydney.
Mr Harvey expects the entire Sydney market to rise on average by five or 10%, arguing against <a href="https://www.propertyobserver.com.au/hotspots/sydney-to-jump-up-to-20-act-to-fall/2013091765094?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news&amp;utm_source=Test+List&amp;utm_campaign=7dfbc01800-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_c3b6b6ca70-7dfbc01800-" target="_blank">SQM Research Louis Christopher’s suggestion that 15% to 20% might be the final figure</a>.
“I’d love to be proved wrong, but price growth is going to be capped by wages,” he said.
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Sydney’s west booming, but is it too hot?

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New legislation recently passed in Parliament is hoping to close up a loophole in the legislation that was allowing building disputes in Queensland to take far longer than necessary.
Minister for housing and public works, Tim Mander, said that resolving disputes quickly is one of many parts attempting to reform the building regulator.
“Under existing legislation, once a dispute was lodged with the Queensland Civil and Administrative Tribunal  (QCAT), the Building Services Authority (BSA) had its hands tied and could not give directions for dodgy work to be rectified or for an insurance claim to be paid out under the Home Warranty Scheme,” Mander said. 
“The amendments in the Bill introduced today will fix that, by letting the building industry watchdog make an application to the QCAT for an order to allow it to continue to act in a dispute while QCAT proceedings are underway.”
An enquiry into the BSA saw the loophole receiving significant criticism.
“One of the most common complaints was from people who believed certain contractors were using this provision in the Act to prevent or delay the BSA from assisting consumers in a dispute,” he said.
“We’re currently in the process of replacing the BSA with a new Queensland Building and Construction Commission (QBCC), and it’s crucial we make sure we’ve got the right framework in place to prevent disputes from dragging on any longer than  necessary."
Current plans are for the QBCC to be in place for the beginning of 2014.
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Building loophole now closed

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While just last month we saw Qantas frequent flyer points being offered with off-the-plan apartments, Macquarie Bank is now offering its own frequent flyer incentive.
Where<a target="_blank" href="https://www.propertyobserver.com.au/news/melbourne-units-sell-with-bonus-qantas-frequent-flyer-points-enough-for-three-return-first-class-flights-to-singapore/2013082864650"> Larry Kestelman’s LK Property Group was offering one Qantas Point for every dollar spent</a> in August, a new loan arrangement offers a slightly different take on the approach.
The Macquarie Bank Flyer Home Loan offers the mortgage holder 10,000 Qantas Points on their loan at the time of settlement and for each month of the duration of the loan.
Every $100,000 drawn down at settlement, calculated to the nearest point, provides the mortgage holder with 10,000 Qantas Points. 
For every month the loan remains at or above $150,000, 1,000 Qantas Points will also be awarded for the life of the loan. 
An extra 25,000 bonus points at the third and fifth year anniversary of the loan are also provided.
{module Would you be more inclined to take a loan with a bank if there's a frequent flyer points incentive attached?}
When considering a home loan of $350,000, this means that 35,000 points will be offered at the time of settlement - enough to redeem a business class flight from Sydney to Melbourne return (plus $69.94 fees, charges and taxes).
“We are pleased to extend the partnership between Macquarie Mortgages and the Qantas Frequent Flyer program, which began in 2001. It’s yet another way our members can earn points and in this case, a significant volume of Qantas Points in one transaction given the amount of money involved in mortgages," said Qantas Loyalty CEO, Lesley Grant.
Macquarie Bank’s head of personal banking, Tony Graham, said that it's a brand new product unseen anywhere else in the market.
“This currently unique product in the Australian market offers points for the life of the mortgage, and customers also receive a discount on the rate and set points on reaching certain milestones," Graham said.
“Having a mortgage does not mean that home owners have to give up on travel.”
Points can also be used to buy goods online via the Qantas store.
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Frequent flyer points the new property trend

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Consumer Affairs Victoria has urged home buyers to look beyond the low interest rates if they are to consider property ownership.
While the current rate environment can be tempting for many consumers, it's worth looking carefully at the long-term costs, director of Consumer Affairs Victoria, Claire Noone, said.
“There’s more to calculating how much you can afford than just looking at current interest rates,” said Noone.
“Carefully assess your financial situation and desired standard of living, including any likely future changes, such as starting a family and interest rate rises," she said.
“You should also take into account costs such as conveyancing fees, loan establishment fees, stamp duty, GST and building inspection fees.”
An analysis of the latest Census data, carried out by CommSec, found Melbourne's growing suburban fringe were among the LGAs with the highest number of mortgaged properties in Australia. In fact, five of the top 10 were in suburban Melbourne.
This included the cities of Melton, Casey and Wyndham, and the shires of Nillumbik and Cardinia.
“Using online tools such as loan simulators and getting independent financial advice could help avoid any nasty surprises,” said Noone.
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 Look at hidden costs, not just rates

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A new report has been released highlighting the critical condition of accessibility Australia's largest CBDs are experiencing, providing a 'game-changer' for each city that will shape residential demand in years to come.
The Tourism &amp; Transport Forum's (TTF) report, Accessing Our CBDs, analyses how to improve transport in the CBDs of Australia's five biggest cities and how this will shape them, and the surrounding areas.
"In recent years, CBDs and inner suburbs have been subject to rising residential demand. In Adelaide for example, the number of dwellings in the city centre increased by approximately 25 per cent between 2006 and 2011," the report explains.
"To realise the full potential of a city, it is important that linkages between its CBD and broader metropolitan area are continuously upgraded to cater for the additional travel demand generated by population growth and increased employment."
<img style="display: block; margin-left: auto; margin-right: auto;" alt="Capital_vs_Regional" height="537" width="441" src="/images/stories/2013/09/16/Capital_vs_Regional.png">
As the population continues to expand, particularly in greenfield urban fringe developments, the average distance travelled by car also tends to increase and so transport links become increasingly more important and valuable to residents.
Investors are certainly aware of the <a target="_blank" href="https://www.propertyobserver.com.au/developments/infrastructure-is-key-when-considering-where-to-invest-jo-chivers/2013050761116">importance of infrastructure and accessibility when it comes to capital growth in their area</a>, and tenant demand.  We've also previously provided <a target="_blank" href="https://www.propertyobserver.com.au/economy/the-34-infrastructure-australia-projects-that-might-interest-property-investors-list-of-the-day/2013070763068">a list of 34 infrastructure developments that may be of interest</a>.
In cities where population forcasts are strong, these issues become even more critical to be aware of early.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="pop_growth" height="528" width="412" src="/images/stories/2013/09/18/pop_growth.png">
TTF deputy chief executive and director, Transport Policy, Trent Zimmerman said it is largely this issue of growing population that is putting the pressure on our CBDs.
“The level of urbanisation and concentration of activity in Australian city centres means that together they are the engine room for Australia’s economy,” Zimmerman said.
“However, the high density of CBDs also creates numerous challenges for mobility and connectivity."
With this growth putting pressure onto the strained transport network, it's interesting to note that the report has found that a significant proportion of this growth is occurring on the outskirts of the major cities.
"In Sydney, for example, the north-west and south-west growth centres, which have been planned to accommodate around 181,000 new dwellings, are located on the fringes of Sydney. Significant population growth is also occurring on the outskirts of Melbourne, specifically in Cardinia in the south, and Wyndham and Melton in the west," the report outlines.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="Capture3" height="550" width="433" src="/images/stories/2013/09/18/Capture3.png">
Dispersed employment is flagged as part of the approach to diversify travel patterns and keep the heat off of the infrastructure. For instance, Sydney's polycentric employment locations with the development of secondary CBDs, such as Parramatta, has seen some level of success. Similar trends are proposed for Melbourne, which may provide investors to get in to the Victorian equivalent of Sydney's Parramatta.
The 'game-changer' proposals:
Sydney
Current situation: CBD is the largest employment centre, with a job density of almost 70,000 workers per sqkm, largely concentrated on the northern end of the CBD. Also has one of the fastest growing residential populations.
Forecast situation: An estimated growth from 4.3 million inhabitants to 5.6 million in 2031.  Within the City of Sydney LGA, employment is expected to grow by 31%, and population by 60% between 2006 and 2036.
Barangaroo will add significant demand, with expectations of 33,000 visitors attracted daily. 
New rail projects including the North West and South West Rail Links are outlined, however neither is said to provide relief to CBD.
Much of the game-changing plans will be to direct attention away from the City of Sydney and towards the development of regional centres, such as the 20 strategic centres recently identified by the NSW government.
Some of the solutions: Northern Beaches Bus Rapid Transit; Light Rail Extension; Wynyard Walk; Long-term rail strategy; Sydney’s missing-link motorways; Additional ferry services to Barangaroo. Melbourne
Current situation: Within the City of Melbourne in 2008, 413,281 people were employed, with 252,959 in the CBD. Over 21,000 are housed in the CBD, which grew by 34.4% between 2005 and 2010.
Forecast situation: Population estimations are that Melbourne's population will grow from 3.5 million in 2006 to 5.4 million in 2031. Within the CBD, a growth rate of 93% is expected over the 20 years to 2031. 
Growing residential and commercial development in Southbank and Docklands will also push up demand on the transport network.
Victorian government and the City of Melbourne have acknowledged that transport connections will have reached capacity by 2031.
Some of the solutions:  East-West Link; Port of Hastings; Regional Rail Link; Metro Tunnel Rail Project.
Brisbane
Current situation: More than 140,000 employees worked in the CBD in 2006, in the CBD, there are an estimated 8,500 residents.
Forcast situation: Between 2006 and 2026, population growth will be at 2% per annum to reach 2.7 million. CBD employment is expected to rise at 3% per annum. 
CBD is expecting substantial residential development, with another 18,000 dwellings over this time period.
Some of the solutions: Changing bus routes and servicing; Construction of Cross River Rail project; Upgrades to ferry terminals; Development of additional bus stations; Completion of TransApex road projects.
Perth
Current situation: More than 1.6 million residents in 2010 in all of Perth. In 2011, approximately 75,181 journeys to work were undertaken to the CBD. 
Forecast situation: Population with grow by 35% to over 2.2 million by 2031 (Western Australian Department of Planning). Up to 429,000 jobs will be needed to cater for the growth.
State government announced $105 million of funding to address CBD congestion in April 2012, including widening the Graham Farmer Freeway and increasing lane capacity on the Mitchell Freeway.
Specialist hubs are also being promoted, including Stirling which is creating 25,000 jobs.
Proposed initiatives: The Perth City Link projec;. Enhancement of buses and rolling stock; Park and ride.
Adelaide
Current situation: CBD catered to 109,904 jobs in 2011, and had 19,900 residents in the City of Adelaide.
Forecast situation: Population is expected to grow 2.9 to 3.6% per annum to 38,565 in 2031.
Another 450 new dwellings per annum are expected with the majority in the eastern and southern CBD areas.
Proposed initiatives: Greenways project; North-South Corridor; Rail Revitalisation Project.
For a full copy of the report <a target="_blank" href="https://www.ttf.org.au/Content/cbds110913.aspx">head onto the TTF website</a>.
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The game-changers for accessing capital cities' CBDs

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With the Sydney market heating up, one analyst has come out and said that he expects house prices to skyrocket by 15% to 20% over 2014.
SQM Research's Louis Christopher predicted a significant price increase for Sydney over next year on the back of low interest rates and an improvement in sentiment towards the national economy.
In the 3rd annual Housing Boom and Bust report, Christopher said that this also took into account an interest rate rise expected around mid- to late-2014.
"The housing recovery that commenced in the third quarter of 2012 for most capital cities is now about to enter into a more accelerated phase from what has generally been modest price rises to date," said Christopher.
The results, however, will vary significantly among the capital cities. Canberra is expecting a house price drop of between 1% to 4%. 
Melbourne will be in-line with the average range, when Sydney is excluded, of 4% to 7%. "Sydney though is turning into a beast unto itself. We have a strong conviction that the ABS will record 15% to 20% house price rises next year for that city. Such a rise will create a large dilemma for the RBA, especially if the national economy is still running below average growth," he said.
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Sydney to jump up 15-20%, ACT to fall

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."

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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.

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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.

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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."

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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."

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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.

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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."

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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.

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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."

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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.

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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>.

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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.

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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."

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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.

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<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.

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Jennifer Duke

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