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Recent data from Fitch Ratings Agency shows that mortgage delinquencies are on the increase in Victoria. At a time when interest rates are low and house prices are generally increasing, this comes as a surprise.
Victoria as a whole has performed the worst, seeing a delinquency rate of 1.37% as of March 2014. However, it was the only state or territory to see negative performance in the year to March.
Unexpected events and costs in life, as well as changes in your situation (such as losing your job) can cause you to suddenly be unable to pay your mortgage. While Property Observer suggests that you should prepare for any eventualities – some will not until the situation comes to a missed repayment.
If you are finding yourself struggling with repayment then there are some things you can do to keep your head above water.
Firstly, this is what is likely to happen if you stop paying your mortgage.
If you miss a repayment, the first thing you’ll likely receive is notification from your lender – often in the form of a letter.
If you then fail to pay, you will likely be issued a default notice that gives you 30 days to get back up to date with your mortgage.
If you then do not pay, you may be issued a statement of claim or a summons for the debt, or repossession of your property.
After this, you will receive a legal order to take possession of your home. After this, you will then see an authority come to evict you and change your locks.
Don’t think that lenders actively enjoy putting anyone through this process, and don’t think that there’s nowhere you can go for help. As you can tell from the above, you will not be immediately pushed out of your property, however you do need to act to stop the process from happening.
Firstly, if you think you’re going to miss a repayment or if you do miss a repayment – get in touch with your lender immediately. Regular, clear communication is going to assist you with stopping the above process from occurring.
HARDSHIP VARIATIONS
If you are in difficult circumstances, and your loan is at a certain value, you may be able to apply to your lender for a hardship variation.
The government <a href="https://www.moneysmart.gov.au/managing-your-money/managing-debts/trouble-with-debt/hardship-threshold%20" target="_blank">lists what the contract value must be</a>, however if your contract was entered into on or after March 2013 you can apply for a hardship variation regardless of your loan’s value.
Essentially, your lender will vary the terms of your contract. This will make your repayments more affordable, however is likely to extend the loan term and cause more interest to be paid overall. However, this stops you losing your property – and there is the possibility of making extra payments down the track when you’re in a better situation.
Lenders should be fairly helpful with this process. If you find yourself unfairly refused a variation, contact the financial ombudsman.
Get your information organised for when you approach your lender – many of them will want to see payslips, employment letters, budget plans (for instance, this is the <a href="https://www.commbank.com.au/content/dam/commbank/about-us/who-we-are/personal-money-plan.pdf" target="_blank">Commonwealth Bank's required budget form</a>), accountant’s letter and other appropriate details to your case (for instance, a doctor’s certificate or a Centrelink statement). Financial counsellors can often speak to the bank on your behalf.
CHECK INSURANCES
If you were sick, or suddenly found yourself unemployed, had you previously taken out an insurance policy to cover this? It may be time to put in a claim to cover yourself for your mortgage if you’d sufficiently covered yourself previously. Double check your policies.
CONSOLIDATING AND REFINANCING
Consolidating and refinancing to bring down your overall repayments and to manage them can suit some, however only if you’ll pay less in fees and interest. It may only be a short-term fix, and you will still need to be able to meet the repayments, plus it may cost you more over the long-term. Watch for hidden fees and costs.
SELLING OR RENTING YOUR PROPERTY
This will not be an option for everyone, but if it’s looking as though you may not be able to afford the home, particularly in the long-term, it may be time to downsize or to look to renting. Beware; this is a costly process, so you will want to run your numbers carefully beforehand. Also remember that it can take a lengthy period of time to sell a property for a price you are happy with, and if the property has dropped in value then you will be facing debt even on the other end of the transaction.
Another alternative is to rent out a room in your house to create some additional income to assist with the repayments.
SPEAK TO AN INDEPENDENT PROFESSIONAL
There are many professionals available for free across Australia, both in terms of finance and legal assistance, that can help you if you get into hardship.
<a href="https://www.financialcounsellingaustralia.org.au%20" target="_blank">Financial counsellors </a>can provide assistance and information, while <a href="https://www.naclc.org.au" target="_blank">free legal advice</a> can assist with credit disputes and debt recovery through courts.
PLAN AHEAD
Remember, mortgage repayments are about more than just the next one coming up. You’ll need to be putting into place a forward-thinking budget and plan to ensure you’re in a comfortable situation.
The government’s Money Smart suggests avoiding borrowing more money or using credit cards, borrowing from friends or family, consolidating/refinancing if there are hidden fees and costs, switching home loans or accessing your super.
YOU MAY ALSO WANT TO READ
Divorce, death, debt and default: <a href="/guides/divorce-death-debt-and-default-six-questions-smsf-trustees-should-be-asking">Six questions SMSF trustees should be asking</a>
<a href="/expert-insights/buying/you-insure-your-home-so-why-not-your-income">You insure your home, so why not your income?</a>
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Victoria’s mortgage delinquency on the rise, how you can stay above water

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RE/MAX WA director Geoff Baldwin has criticised new bank changes to lending criteria for Survey Strata house and land contracts, saying that they will end up driving prices upwards and may kill off many current projects.
Explaining that the new changes require developers of survey strata projects to complete a project before funds are paid over by purchasers, resulting in higher holding costs, Baldwin notes that this results in additional stamp duty to the buyer and a higher purchase price.
“Whereas strata titled projects are required to be totally completed before the deal is settled, survey strata developments allow settlement on the land content and then graduated payments until completion, much the same as a conventional house and land package,” Baldwin explained.
“As an example, we are currently mid-way through selling a villa development in Perth’s southern suburbs with most of the purchasers having committed to graduated payments and the entire pricing structured around that model so all parties are now faced with the problems resulting from these sudden changes.”
The banks have made the changes due to fears that developers who do not complete a project will leave land isolated from a road or without services, which would in turn negatively affect them.
Baldwin, however, says that there are other solutions to this issue.
“One solution would be for the developer to demonstrate their capacity to complete the project without the benefit of graduated settlements ensuring that no buyer was at risk and that the bank’s funds were secure,” he said.
He also noted that a developer could be required to hold funds as a security bond for lenders.
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Bank changes to lending criteria will lead to higher property prices: Geoff Baldwin

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New residential development Light House from Melbourne developers Hengyi in a joint venture arrangement with Sixth Grange will bring 607 apartments to the CBD, and has already seen 75% sell. The Elenberg Fraser-designed<a href="https://%20www.lighthousemelbourne.com.au" target="_blank"> Light House</a> project includes one, two and three bedroom apartments over 69 levels.
On the corner of Eizabeth and Franklin Streets it offers 360 degree views, a 25-metre lap pool and a private dining room/cocktail lounge. Light House saw three quarters sell prior to retail launch, and is expected to begin construction later in 2014. Completion is expected for 2017.
The apartments are being sold through Colliers International.
It appears as though the early sales success may have much to do with launching offshore before releasing the properties to the Australian market, although the majority of the sales are said to have so far been to Australia-based buyers.
Advertising material references a “first launch” in Malaysia over one April weekend. Prices were recorded as starting from $368,000.
Hengyi is an affiliate of Shandong HYI, noted as one of the most affluent in China.
One-bedroom, one-bathroom apartments are currently advertised as from $360,000, with two-bedroom one-bathroom from $458,000 and three-bedroom two-bathroom from $800,000.
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Melbourne's 607 apartment Light House tower development 75% sold

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A Strathfield development from Lumex Property Group will bring 57 new apartments to the inner west and expects to be launched later this month.
The development, called <a href="https://www.centricstrathfield.com.au" target="_blank">Centric</a>, includes one-bedroom, one-bedroom plus study and two-bedroom apartments, the majority of which have a northerly aspect. They are priced from $629,000, from $685,000 and from $780,000 respectively.
Architects and designers SJB have been behind the project and it is noted that they’ve been created for the owner-occupier market.
A rooftop terrace offers views to the CBD skyline and Harbour Bridge. The ground floor includes an atrium lobby and secure parking. There will also be a commercial space on ground level, with the apartments spanning over another eight levels.
The public launch will be on 19 July, with the display suite now open.
Construction completion is expected mid-2016. They are being sold through CBRE.
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Centric Strathfield to be launched, with 57 inner west apartments

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Queensland’s regional areas have seen the launch of the RegionsQ Framework this morning, with Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney, saying he recognises the importance of the regions.
This plan’s framework has identified nine initial projects of regional significance that will provide a boost to their areas and much needed services.
These projects are:
<ol>
<li>North West Minerals Province</li>
<li>Galilee Basin Development</li>
<li>Gulf Rivers Agricultural Zone</li>
<li>Burdekin Catchment Development</li>
<li>Charlton-Wellcamp Precinct near Toowoomba</li>
<li>Cairns Airport Aviation and Commercial Precinct</li>
<li>Charlton-Wellcamp Precinct near Toowoomba</li>
<li>Springfield Health Precinct</li>
<li>Sunshine Coast University Hospital/ Kawana Health Precinct.</li>
</ol>
“Our government recognises that Queensland’s regions are the economic powerhouse of the state, with more than $140 billion worth of output produced outside Brisbane in 2010-11,” Seeney said.
“Since we were elected in 2012, our government has restored respect for the important role that regional Queenslanders plan in driving our state’s economy.”
They have six priority action areas for the regional areas, including planning for development, infrastructure services, capitalising on economic drivers and attracting/retaining people.
“We promised to support growth in the four pillars of the economy – tourism, resources, agriculture and construction and we are delivering on that promise,” Seeney said.
“We’ve simplified complex planning regulations, boosted investment in infrastructure, and untangled the red tape that had been strangling industry, business and landholders.”
The framework is based on the Governing for Growth Economic Strategy and Action Plan and looks to achieve the goals from The Queensland Plan.
11 forums will be held around Queensland’s regional areas over the next few months to seek feedback on the priorities. 
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The nine projects at the centre of Queensland’s regional framework

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That the number ‘eight’ is lucky in some peoples’ eyes, particularly when looking at trends around Chinese buyers, has spread like wildfire through the media and through real estate agent companies.
The word for ‘eight’ sounds similar to the words for ‘prosper’ or ‘wealth’, and the more eights in a number, the more lucky that number is. Often, prices will be stated with eights in the dollar value as well. 0, 6, 8 and 9 are said to be the lucky numbers.
There is a rumour being currently passed around online that the August coming up next month is especially important as it contains five Fridays, Saturdays and Sundays - which 'only happens once every 823 years'. The chain goes on to state that it is called “Silver pockets full” by the Chinese and is auspicious. 
This is, of course, a falsehood in terms of the frequency of the month (we last had an August of this nature in 2010), although the legend gains traction online every time a year of this nature appears.
If you’re interested in more information around superstitions and lucky omens, observer Cameron McEvoy wrote this <a href="/expert-insights/very-superstitious-marketing-and-building-property-based-on-superstitions">compelling piece around what constitutes a lucky number – and which ones are steered clear of</a>.
For the purposes of this article, we decided to see just how much this is beginning to permeate into real estate listings. Upon searching through a listings portal it was quickly obvious that ‘Lucky Eight’ is being used by real estate agents to sell properties – in particular, those “lucky enough” to be a number eight.
However, it appears to be taking effect in the prices as well. Jonathan Chancellor previously reported in February this year that a <a href="/expert-insights/investing/happy-chinese-new-year-as-1960s-glen-waverley-house-sells-for-1-100-888-on-lucky-third-attempt">Glen Waverley property sold for $1,100,888 at auction</a> after the agency, Biggin &amp; Scott, had timed the listing for Saturday, 8 February for Chinese New Year.
Here are eight properties currently on the market using Lucky Eight marketing – many of which are coming up for auction in August… the perhaps not-so auspicious eighth month. It's worth noting that there were many others using this marketing technique with a high concentration in Victoria and New South Wales.
 
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-brookfield-117362399%20" target="_blank">8 Magpie Street, Brookfield, Victoria </a> <img src="/images/2014/07/08/brookfiled%20july%208.jpg" alt=""> “Lucky 8's (sic),” the listing begins. “Good fortune waits for the lucky purchaser of this beautiful home.” The three-bedroom, two-bathroom home sits on 800 square metres of north facing land and has a double garage. It’s up for auction on 9 August, at 11am through Stockdale &amp; Leggo – Melton. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-tea+tree+gully-117352847%20" target="_blank">8 Peaceful Place, Tea Tree Gully, South Australia <img src="/images/2014/07/08/tea%20tree%20gullly%20july%208.jpg" alt=""> </a>Asking for $685,000, and having last sold for $625,000 in 2006, according to RP Data, this ad comes straight in with the capitalised “IS "8" YOUR LUCKY NUMBER?” <a href="https://www.realestate.com.au/property-house-sa-tea+tree+gully-117352847%20" target="_blank"></a>The six-bedroom, three-bathroom, three-storey tudor home is circa 1962 and is a gorgeous offering with a spa bath in the main bathroom, a his and hers walk in wardrobe in the main bedroom, a conservatory and a home theatre room. It spans 1,259 square metres and is offered through LJ Hooker – Golden Grove. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-st+albans-117395935" target="_blank">8 Avondale Avenue, St Albans, Victoria <img src="/images/2014/07/08/sta%20labns%20july%208.jpg" alt=""> </a> This three-bedroom, two-bathroom home has the headline “First Time On The Market! Lucky 8!” to attract purchasers. <a href="https://www.realestate.com.au/property-house-vic-st+albans-117395935" target="_blank"></a>On a 660 square metre allotment, it also has a four car garage and each room has a built in wadrobe. It’s being advertised through Raine&amp;Horne St Albans. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-canning+vale-117219251" target="_blank" style="line-height: 1.3em;">8 Saltram Turn, Canning Vale, Western Australia </a><img src="/images/2014/07/08/canning%20vale%20july%208.jpg" alt=""> Asking for offers from $850,000, this “Lucky number 8!” property has the added tagline “Good fortune lies within!” It has four bedrooms and three bathrooms, and is close to local schools and colleges. On 660 square metres, it has four included chandeliers, a theatre room, a two-car garage, solar panels on the roof and a 5,000 litre rainwater tank. It’s said to suit the “distinguished” buyer and is on the market with One Agency Phil Taylor – Maddington. 
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-carnegie-117224055" target="_blank">2/8 Kokaribb Road, Carnegie, Victoria </a> <img src="/images/2014/07/08/carnegie%20july%208.jpg" alt=""> Up for auction at $380,000 plus, this apartment is on the market with Century 21 Anderson &amp; Co – Carnegie. <a href="https://www.realestate.com.au/property-apartment-vic-carnegie-117224055" target="_blank"></a>The capitalised “LUCKY NUMBER 8” is what stands out from this advertisement, and it comes with two bedrooms, a separate entrance hall, a balcony, built in wardrobes and a lock-up garage. It’s close to train, TAFE and shops. The auction is on 12 July. 
</li>
<li>
<a href="https://www.realestate.com.au/property-townhouse-nsw-lurnea-117322963" target="_blank" style="line-height: 1.3em;">8/31 Calabro Avenue, Lurnea, New South Wales <img src="/images/2014/07/08/lurnea%20july%208%20one.jpg" alt=""> </a>This “Lucky Number 8, Rear of Complex” two-storey townhouse with two bathrooms spans 200 square metres and includes three bedrooms and a study. Listed through Strathfield Partners – Strathfield, there is an entertainers courtyard, and it has beautiful exposed brick features. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-campsie-117133031" target="_blank">8 Gordon Street, Campsie, New South Wales <img src="/images/2014/07/08/campsie%20july%208%20one.jpg" alt=""> </a> This five-bedroom, two-bathroom property on the market with Lytin Real Estate – Campsie jumps straight in to “Lucky Number 8 in Blue Ribbon Location on 668sqm block”. <a href="https://www.realestate.com.au/property-house-nsw-campsie-117133031" target="_blank"></a>Up for auction on 26th, it’s on a 668 square metre block, and they suggest that: “The lucky buyer may consider renovating this spacious home or you could keep it as a premier investment option whilst you make plans to build and further capitalise on this fantastic block and position.” 
</li>
<li>
<a href="https://www.realestate.com.au/property-residential+land-qld-marsden-200803391%20" target="_blank">Lot 8, 19 Sam's Way, Marsden, Queensland <img src="/images/2014/07/08/marsden%20july%208.jpg" alt=""> </a>Now we turn our attention to vacant block of residential land, up for sale for $202,500. <a href="https://www.realestate.com.au/property-residential+land-qld-marsden-200803391%20" target="_blank"></a>“Lot 8 (Lucky For Some) - Build Here!” we’re told by New Image Real Estate – Marsden. The 556 square metre block is in a new estate. “The number 8 in Chinese is to prosper and considered lucky according to the internet. Some people believe this to be true...” the listing continues. 
</li>
<li>
BONUS LISTING (9 is lucky too) <a href="https://www.realestate.com.au/property-house-qld-parkinson-117153927" target="_blank" style="line-height: 1.3em;">(Unnumbered) Parkinson, Queensland </a><img src="/images/2014/07/08/parkinson%20july%208.jpg" alt=""> Up for $568,000 negotiable, the property is advertised as a "Lucky 8 house don't miss out", with the four-bedroom, two-bathroom property sitting on 800 square metres. It's on the market through Prince Realty - Sunnybank.
</li>
</ol>
 
<a href="https://www.realestate.com.au/property-residential+land-qld-marsden-200803391%20" target="_blank"></a>
{module Do you think that the number eight has an effect when advertising property?}
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Eight properties advertised with a “Lucky Eight” hook

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A new bar is opening in Sydney’s CBD western corridor and it will be the first video-gamed themed small bar in the entire city.
Set to be located at 199 Clarence Street, and close to Baxter Inn, Lobo Plantation, Papa Gede’s and Since I Left You, the premises were leased by Spawn Point through John Skufris from Ray White Commercial for a private owner.
 “199 Clarence Street offered a lower ground whole floor tenancy with its own amenities, the availability of after hour access and was previously leased as storage space,” Skufris said.
“We were informed this is the Sydney CBD's first and only video gaming-themed small bar.”
The site is between Town Hall and Wynyard.
<img src="/images/2014/07/08/dev-plan-july-8-one.jpg" alt="">
Source: City of Sydney 
“The top floor is currently available for lease with an internal staircase to the building's rooftop area,” he said.
The entire building is six-storeys with a sandstone façade, and comes with independent air conditioning and its own amenities. It had been advertised as having the potential for a small bar subject to council approval – which it appears has been successfully achieved.
Spawn Point, founded by IT-professional and Sydney gamer Ben Mudie and Welder and Central Coast gamer Ben Shute, has taken a three year lease at gross rental of $475 per square metre per annum. The space is 88 square metres.
In June they managed to achieve Licensed Premises status from council.
They will have some tables with in-built arcade machines, and will offer cocktails, locally brewed beer on tap and they will also be accepting BITCOIN payments using a QRCode system via smartphones. Consoles include Xbox, Playstation, Game Cube, Nintendo and a number of vintage systems. These include Super Nintendo Entertainment System, Nintendo 64 and the Mega Drive 2.
“The small bar will target a different culture of people rather than the typical bar crowd,” documents submitted to <a href="https://development.cityofsydney.nsw.gov.au/Datasource/DANotifications/1141038_007.pdf" target="_blank">Council explain</a>.
The notes indicate that the bar has a maximum of 39 sitting, with a total of 60 patrons (not including staff) at any one time.
"The closest residential building is Windsor On Kent located at 365 Kent Street that is approximately 100 meters away. The next closest residential building being Broughton House located at 181 Clarence Street that is approximately 160 meters away," it explains. According to an acoustic report they provided, there shouldn't be adverse ambient noise problems noticed by the residents.
Windsor on Kent's two-bedroom apartments sell for around $700,000 to upwards of $900,000. 
"Signage will be put in place advising our patrons to leave in a quiet fashion to avoid any disturbance to residents of the CBD."
<img src="/images/2014/07/08/dev-plan-july-8-two.jpg" alt="">
Source: City of Sydney 
The proposed hours of business operation included Monday to Sunday 0800 to 0100 the next day, with alcohol to be served from 12.01 to 0045, though it's likely the bar will actually open from mid-afternoon onwards.
Casual and full time staff are expected to be hired.
Some renovations were noted as necessary, including to remove existing carpeting, removing a non-structural wall to create a single large room and removing the kitchenette to be replaced with a bar. Floating wood floor over concrete slab will be in place of the carpet. The bathrooms are also undergoing a re-tiling and replacing the vanities.
The lighting will retain the fluorescent that is currently in the building, and will include directional low powering lighting.
The street façade is the only aspect that would cause issues in regards to heritage listing – and no plans have been proposed to alter this. The internals had been previously modernised.
While it’s the first video game bar, and will likely see vast interest, there have been a number of board game bars and cafes around Sydney.
Glebe’s Bar 99 featured traditional boardgames such as Battleship and Trivial Pursuit, while Madam FlingFlong in Newtown featured Yahtzee, Cluedo and Connect Four. Both no longer operate.
Melburnians will be looking on with interest, following Mana Bar, a similar video game offering, which closed in September last year.
<a href="https://www.spawnpoint.com.au/" target="_blank">Spawn Point’s homepage</a> is currently “coming soon”. The name Spawn Point is taken from the video game colloquialism 'Spawning', which means the creation of a character. Most will be more familiar with the term 'Respawn' which is what occurs after a character dies and needs to re-appear in the game. The spawn point is where the characters appear in the game.
Previous estimates suggested that plans are for a door-opening in August.
For those looking to arcade-ready their home, here’s one <a href="/expert-insights/building/renovation-recreation-how-to-turn-your-bedroom-into-an-arcade">gamers take on a home renovation where he turned his bedroom into an arcade</a>.
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First video game-themed bar for Sydney

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The Australian Veterinary Association (AVA) in conjunction with the Australian Companion Animal Council have put out their 2014 guides, one for landlords and one for renters, around allowing pets in investment properties.
They provide <a href="https://www.ava.com.au/sites/default/files/AVA_website/ASAVA/CF142757%20ACAC%20Tenants%20with%20Pets%2007%2005%2014%20WEB.pdf" target="_blank">10 reasons they think animals should be allowed</a>:
<ol>
<li>Pet owning tenants are generally willing to pay more rent. 
</li>
<li>Pet-friendly properties rent faster. 
</li>
<li>Responsible pet owners can make excellent tenants. 
</li>
<li>Tenants with pets want to hold longer leases. 
</li>
<li>Reduce your advertising spend. 
</li>
<li>No more problems with ‘hidden’ pets. 
</li>
<li>Most Australians feel their pet is part of the family and care for them as such. 
</li>
<li>Reduce animal euthanasia; animal welfare agencies indicate that as many as 30% of dogs and cats are surrendered by owners who are unable to locate adequate accommodation. 
</li>
<li>“Considering pets” will not lock you into a pet- particular outcome. 
</li>
<li>Pet application and agreement forms are available to help landlords and managing agents implement a successful pet management policy and help tenants understand how to responsibly manage pets.</li>
</ol>
Source: AVA
In fact, when it comes to paying more rent, the research they cite suggests that renters are prepared to pay 7% to 14% more to bring their beloved pet along.
Basing their thoughts on US research that may reflect behaviours in Australia as well, they note that 25% of renters in the Companion Animal Renters and Pet-Friendly Housing in the US study were seeking pet-friendly accommodation, with applicable properties receiving twice as many applicants and renting out 10 days faster. The research from the US also suggests that longer leases are desired by tenants with pets, with some wanting to stay more than double the length of time as those without.
They also note that current Australia-based research suggests that 11% of pet-owning tenants keep their pets secretly, without telling their landlord, and usually it’s cats.
If you’re tempted to allow your tenant to keep pets, there are ways to go about it. Consider pet agreement forms, where you lay out your expectations, pet application forms for new tenants and, for Western Australian landlords, pet bonds.
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10 reasons landlords should consider allowing tenants to have pets: AVA

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Renovations to add value are all about being visual and this is especially true when it comes to the concept of renovation ‘cosmetically’.

The clue to what this means is really all in the word ‘cosmetic’. It’s like makeup for your property – you’re providing a visual uplift without doing any of the hefty structural work.

However, the extent of what counts as cosmetic is pretty broad. While some wouldn’t consider replacing a kitchen as cosmetic, some may believe that replacing the doors and handles and re-tiling does count as cosmetic.

As a rule of thumb, cosmetic renovations are generally cheaper than structural renovations and usually offer more bang for your buck. They involve things that are visually apparent, and not hidden fixes such as re-wiring or plumbing.

The following are usually considered part of a cosmetic renovation:

<ul>
<li>Painting (from the walls, to the house’s façade to the driveway)</li>
	<li>Fixing minor cracks in walls</li>
	<li>Light fittings and window furnishings</li>
	<li>Flooring (such as new carpet)</li>
	<li>Re-colouring (such as the surfaces of a bathroom)</li>
	<li>Updating basic household hardware (such as a towel rack, toilet seat or new door handles)</li>
	<li>External flourishes (new house number, letterbox etc)</li>
	<li>Light landscaping (sometimes even adding new fencing)</li>
</ul>
Renovating for Profit’s Cherie Barber says that a 10% spend is the amount required for a cosmetic renovation.

[smartcode_project:default project_id=92985]

If you’re unsure whether what you’re undertaking is cosmetic or not, then it’s worth asking yourself whether you require a particular planning or building permit for the job. That usually suggests that the project is slightly more extensive than a cosmetic upgrade, which is typically a “surface” fix.

If you’re changing a floorplan or knocking down walls (particularly load bearing), you’re firmly into structural renovation territory.

However, just because cosmetic renovations are typically quicker, smaller and cheaper (although not always) than their counterparts, it doesn’t mean that you can rest on your laurels. There’s still scope to overcapitalise, to get the renovation wrong and to make crucial mistakes.
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What is a “cosmetic renovation"? Investment terms explained

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Realestate.com.au has released a list of 10 suburbs that are most in demand by potential buyers, based on the most people looking per listing.
Balgowlah, New South Wales, which secured top spot in the last list has fallen spectacularly to number nine on this quarter’s seller’s list.
Ormond, Victoria, which appeared for the first time on the last ranking, has vanished again from the list.
Of the total, Victoria secured two spaces, South Australia netted three top suburbs, New South Wales scored four and Queensland managed to scrape in one suburb at number 10 on the list. It’s notable that the Queensland suburb, Holland Park, is down two places from its last ranking.
<ol>
<li>
<a href="/news">Albert Park</a> (Victoria) Median house price: $1,380,000 
</li>
<li>
<a href="/news">Parkside</a> (South Australia) Median house price: $614,000 
</li>
<li>
<a href="/news">Freshwater</a> (New South Wales) Median house price: $1,362,500 
</li>
<li>
<a href="/news">Belair</a> (South Australia) Median house price: $511,500 
</li>
<li>
<a href="/news">Blackburn North</a> (Victoria) Median house price: $692,000 
</li>
<li>
<a href="/news">Kirrawee</a> (New South Wales) Median house price: $765,000 
</li>
<li>
<a href="/news">Cherrybrook</a> (New South Wales) Median house price: $880,000 
</li>
<li>
<a href="/news">Norwood </a>(South Australia) Median house price: $800,000 
</li>
<li>
<a href="/news">Balgowlah</a> (New South Wales) Median house price: $1,312,500 
</li>
<li>
<a href="/news">Holland Park</a> (Queensland) Median house price: $544,750
</li>
</ol>
Of those on the list, Cherrybrook, Norwood, Balgowlah and Holland Park have actually decreased in demand over the last quarter, while Albert Park was the only suburb that calculated an increase.
General manager of sales and operations at realestate.com.au, Arthur Charlaftis, said that the position indicates increased buyer interest.
“Top Sellers’ Markets look at supply and demand in each suburb and ranks the suburbs based on ratio of buyer demand. A position in this list suggests that it could be a good time for property owners in these areas to consider selling as there are a high number of buyers looking for property in that area,” he said.
Greg Hocking Real Estate’s Greg Hocking said that Albert Park’s attraction remains its “village like” atmosphere.
“For families, the primary schools are bursting at the seams because they’re so highly regarded. Albert Park Secondary College is attracting lots of people who are keen to be in the school zone. Parents are deciding to send their kids there rather than sending them to private schools across town,” Hocking said.
Property Observer wonders if The Block has had any influence on Albert Park’s ranking, clearly driving some interested parties to this suburb. Whether or not they’re prospective buyers is less easy to ascertain.
Albert Park did get a mention in second place <a href="/expert-insights/investing/the-top-10-most-viewed-suburbs-realestate-com-au">on the previous quarter’s list</a>.
Tom and Joy Williams, who bought Kyal and Kara's apartment on The Block Albert Park television series, sold their nearby home in May. The<a href="/expert-insights/buying/albert-park-former-1896-bakery-listed-in-the-block-aftermath"> former 1896 bakery at 1a College Place snapped up $3,705,000 at its May 21 auction</a> – having been tipped to fetch “more than $2.9 million).
Here are some <a href="/news/what-are-the-block-albert-park-contestants-up-against">more examples of offerings in Albert Park</a>.
Albert Park has, however, always been a list topper. Back in October 2012 it ranked number one as one of the<a href="/news/vic/albert-park-heads-top-10-rental-growth-suburbs-in-melbourne"> top 10 rental growth suburbs in Melbourne</a>.
Picture courtesy of Tim Serong/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">Creative Commons</a>.
</body></html>

The 10 most in-demand markets, Albert Park tops list: REA

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

Joel Robinson

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]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Jennifer Duke

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