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A Dandenong based mortgage broker has agreed to cancel his credit license after concerns from ASIC that he was failing to verify documents.
Parmjit Singh did not verify payslips, bank statements and employment references in support of about 40 loan applications to banks, even though they were of questionable validity.
ASIC was concerned that Singh appeared reckless about potentially false information from prospective buyers about their income and employment statuses, noting that he may not be a “fit and proper person to engage in credit activities.”
Singh has also agreed not to apply for a license or participate in the consumer credit or financial services industries for five years.
According to ASIC deputy chairman Peter Kell, brokers and credit providers have important responsible lending obligations.
“ASIC will take action where it identifies mortgage and finance brokers who knowingly or recklessly submit false loan documents,” said Kell.
Singh is one of several mortgage brokers who ASIC has taken action against in recent months. Other brokers found to have submitted questionable or false information on loan documents include Hyuk Hwang, who was banned from engaging in credit activities for three years after providing false documents to secure a $250,000 loan and Daniel Minh Tuan Nguyen, who has been permanently banned after being <a target="_blank" href="https://www.propertyobserver.com.au/finance/mortgage-broker-convicted-of-providing-banks-false-infor-to-secure-%2475m-of-loans-asic/2013121166888">convicted of providing false documents to secure loans</a> totalling about $3 million.
In January, <a target="_blank" href="https://www.google.com/url?q=https://www.propertyobserver.com.au/news/asic-bans-manager-after-%2432m-of-false-or-misleading-home-loan-applications/2014012267316&amp;sa=U&amp;ei=v9kCU7TUOqSg2AW43YDoDw&amp;ved=0CAYQFjAA&amp;client=internal-uds-cse&amp;usg=AFQjCNGp2xT2B2i_iwAlP2uuNWb76a3L6Q">ASIC banned Anthony Bergin from engaging in credit activities</a> for three years after his company submitted seven home loan applications, worth a total of $3.2 million, containing false or misleading information.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
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jrichardson-uRX5hFdKfN

Mortgage broker loses credit license after failing to verify documents

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According to a new report released by BIS Shrapnel, New Zealand’s building sector is expected to reach a new peak by the year ending March 2016.
BIS Shrapnel’s Building and Construction in New Zealand 2014-2019 report cites a rebound in Auckland’s housing sector and rebuilds in Canterbury as the driving factors behind growth in the building sector.
Remediation work on leaky homes and schools and earthquake-risk buildings is also contributing to the sector’s recovery, with total building authorisations over the next five years to 2019 forecast to hit NZ$10 billion (A$9.26 billion) in value in 2016 (in constant terms).
“We expect Auckland to experience strong growth in residential construction over most of the next five years,” said Adeline Wong, the report’s author and BIS Shrapnel senior project manager.
“The number of dwelling consents in Auckland is expected to increase from 4,760 in 2012/13 to an estimated 6,350 in 2013/14 and then to around 10,000 by 2017/18.
Wong said building activity should be underpinned by a number of demographic factors.
“Relatively low levels of new residential building in recent years have left a housing shortage, although 2013 Census data indicates this may be less than previously thought,” said Wong.
“Population growth including through immigration, firm economic growth, and relatively low – but rising – interest rates should also support the demand for residential dwellings.
“Auckland’s high house prices are likely to drive first home buyers to settle for cheaper apartment prices in high density living in the inner city. The high density housing sector may thus present an upside over the forecast period – which is in line with Auckland’s Unitary Plan that calls for up to 70 per cent of new dwellings to be built within the current city boundary.”
BIS Shrapnel expects that total annual average valuations will reach NZ$5.85 billion (A$5.4 billion) in constant terms over the next five years.
Reconstruction in Christchurch is likely to provide a major boost to the non-residential building sector over the next five years. However, the report also points to growth in new building and refurbishment activity in the factory, office building and warehouse sectors in New Zealand’s North Island, as leasing activity picks up in response to growth in the domestic and global economy over the next two to three years.
Annual average commercial and industrial building authorisations are forecast in the report to reach an estimated NZ$2.39 billion (A$2.21 billion) in constant terms, 14% higher than the levels seen during 2004-2008’s boom years.
Wong notes that reluctance from owners of properties that are quake damaged or at risk of damage from earthquakes may dampen their outlook.
“The non-residential building sector over the next five years may get an extra lift from potentially wider earthquake strengthening work in office buildings and schools in Wellington in particular,” said Wong.
“However, there is also a downside risk to our forecasts in that the timing and scale of Christchurch reconstruction, and also seismic work in Wellington may not be as expected.
“Some owners of quake-damaged and earthquake-risk properties may not commit to redevelopment in the short term, which would impact the overall outlook.”
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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New Zealand building sector on path for recovery: BIS Shrapnel

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According to new research from Bankwest, Australia's demand for medium density housing is now at its highest recorded level.
The Bankwest Housing Density Report shows that a record 43.4% of total new home approvals in the year to October 2013 were for units, townhouses or semi-detached houses.
The increase in medium density approvals in the last year outstripped approvals of stand alone houses. Medium density approvals were up by 22.9% from the previous year, while stand alone dwelling approvals increased by only 6.5%. Approvals for medium density dwellings increased by 45.9%. In that period, approvals for stand alone houses fell by 8.5%.
<img src="/images/stories/2014/02/17/chart-feb-17-one.gif" width="470" height="242" alt="chart-feb-17-one">
Bankwest executive general manager Mark Reid says the push for medium density houses may be due to demographic changes, in addition to demand from first home buyers.
"Smaller housing options continue to increase in popularity as the population grows and consolidates around Australia’s capital cities," said Reid.
"The increasing popularity of medium density housing is possibly being driven by Australia’s first time home buyers, who are finding it difficult to afford a stand-alone house." According to Reid, the bank's First Time Buyer Report, released last year, showed that first home buyers are able to save for a 20% deposit on a median-priced unit in 3.4 years, while 4.2 years to save for a 20% deposit on a stand alone home. 
<img src="/images/stories/2014/02/17/chart-feb-17-two.gif" width="470" height="264" alt="chart-feb-17-two">
As expected, capital cities accounted for the majority of medium density dwelling approvals, making up 87.1% in the year to October. Approvals for medium density homes in Sydney, Canberra, Darwin, Melbourne and Brisbane made up more than half of all approvals for that year.
Perth was the only capital city in which the proportion of medium density approvals declined, with the report showing that only 20% of total approvals were for medium density homes, down from 22.6% in the year to October 2012.
According to Reid, first home buyers are possibly taking advantage of the comparatively small difference in the time it takes to save for a unit and a house in the state.
“In Western Australia the gap between savings time for a house and for a unit is the smallest of any state in Australia," said Reird.
"It only takes six months longer to save for a house in Perth than it does to save for a unit. It’s possible that buyers are simply holding out for the additional six months in order to save for a stand-alone home instead of a medium density property."
The highest annual increase in medium density approvals was recorded in the ACT, where the proportion of medium density approvals out of total approvals was up 82.7%. Over the same period, Queensland saw the next highest increase, with 53.5%, which was followed by South Australia with 43.4%.
The report points to a long term trend of Australians turning to medium density homes, according to Bankwest. The proportion of medium density home approvals has annually averaged 30.6% since 1985; in the past 10 years the annual average has risen to 34.3%, and in the past two years this figure has increased to 40.1%.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
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Demand for medium density housing at record high

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Sienna Mount Waverley, a 118 lot development on an old quarry site, has sold out its fifth stage of releases, five months after the lots were placed on the market.
The fifth stage, named Jade, is made up of 17 double storey four bedroom houses in the residential community, developed and constructed by Five Squared Property Group on behalf of the Chain Group. Home prices ranged in price from $815,000 to $858,000, with total sales nearing $14 million.
The houses include multiple living zones, outdoor entertaining, SMEG appliances, reconstituted stone benchtops and timber floorboards. All houses come with a remote-access double garage, with no owners’ corporation fees.
According to Ashley Lewish, co-founder of Five Squared Property Group, Mount Waverley’s schools and universities are a major source of demand for residences in the area.
“Mount Waverley Secondary College has become one of the top public high schools in Melbourne, and Sienna is also located close to Wesley College and Deakin University, so a lot of our buyers are families looking to provide their kids a high quality education,” said Lewis.
Sienna is also located minutes from the Monash Freeway and Eastlink, and close to The Glen and Chadstone shopping centres.
Lewis says that the fast sale of Jade indicates that buyer uncertainty is on the decline.
“The positive market conditions for home buyers have also played a huge factor in demand. It has taken us half the time to sell our Jade release than our previous stages.”
“Over the last couple of years, we’ve seen buyers sit tight because of economic uncertainty, which meant it took us anywhere from nine months to a year to sell each release. The response to Jade is clearly a sign that people are feeling comfortable to make a long term investment for their family,” he said.
Sienna is a nine stage development, launched in 2009. The development includes three and four bedroom homes overlooking walking paths and parks. The development’s centerpiece is a lake with a sculptured waterfall and stone wall.
“Sienna has started to really take shape as a community. More than 50 families have already moved in,” said Lewis.
{yoogallery src=[images/stories/2014/02/17/sie2]}
Photos: Construction is underway at Sienna.
Construction on Jade has commenced and is due to be completed in September. Amber, the development’s next release, will comprise 15 four bedroom homes. A limited pre-release of five homes will be launched this week. House prices for the stage will begin at $840,000, with internal living spaces ranging from 218 square metres to 282 square metres.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
 
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Sienna Mount Waverley sells out fifth stage with $14 million in sales

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Australian actor Portia de Rossi is known abroad not only for her turns on Arrested Development and Ally McBeal, but for her property prowess. With wife Ellen DeGeneres, de Rossi made news last month when the couple purchased the Brody House, a Los Angeles mansion designed by renowned architect A Quincy Jones.
The modernist masterpiece (pictured below) was constructed in 1949, with interiors by Billy Haine and Garrett Eckbo. In October last year, the mansion was updated by designer Stephen Stone to prepare it for market. Rumour has it the property, which has six bedrooms, nine baths and is set over a 4,118 square metre estate, was hardly on the market at all before DeGeneres and de Rossi snapped it up for a reported US$39.89 million (A$44.64 million) sum.
{yoogallery src=[images/stories/2014/02/17/ell]}
Photos courtesy of curbed.com
The house was commissioned by the late arts advocate Frances Lasker Brody and her husband, the late Sidney F Brody. After Frances Lasker Brody’s death in 2009, the property was sold for the first time for US$14.88 million (A$16.65 million) in 2010.
Portia de Rossi, legally known as Portia Lee James DeGeneres (born Amanda Lee Rogers), and DeGeneres have been involved in quite a few notable Los Angeles property transactions in recent years. Last year, the couple sold their ranch in Thousand Oaks, California. The 26 acre property was originally listed by the de Rossi and DeGeneres in 2011, with an asking price of US$16.5 million (A$18.5 million). It sat on the market for nine months after being pulled, and was relisted last year.
The eight bedroom, 11 bathroom ranch (pictured below) was <a target="_blank" href="https://www.propertyobserver.com.au/international/ellen-degeneres-and-portia-de-rossi-re-list-horse-ranch-for-%2410995-million/2013082663802">reportedly sold for US$10.95 million</a> (A$12.14 million). According to de Rossi, the ranch’s redesign was handled entirely by DeGeneres. In an interview with Elle Décor, the Geelong native said that the original property was a horse facility, with an unsalvageable main house. “I thought it might take five years for Ellen to finish the project,” she told the magazine. “And she did it in one! It was shocking.”
{yoogallery src=[images/stories/2013/08/aug27thousand]}
A number of other high profile properties have passed through Portia and Ellen’s capable hands. They purchased a US$26.5 million (A$29.45 million) <a target="_blank" href="https://www.propertyobserver.com.au/news/aussies-keeping-us-realtors-busy-olivia-newton-john-portia-de-rossi-and-frank-lowy/2013062661728">13 acre estate in Montecito</a> (pictured below), just outside of California’s Santa Barbara, in May 2013. Known locally as Saladino Villa, the six bedroom, seven bathroom home overlooks the Pacific ocean.
{yoogallery src=[images/stories/2013/06/june27saladino]}
The couple also sold their sprawling Beverly Hills estate (pictured below) in 2012 to US television personality Ryan Seacrest, for a whopping US$49 million (A$54.43 million).
{yoogallery src=[images/stories/EllenandPortia]}
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
 
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Aussie Portia de Rossi and Ellen DeGeneres big players in the California prestige market

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Sydney agent Louise Catherine Sultana has admitted to taking $330,000 from the trusts of Century 21's clients between 2010 and 2012. The 25 year old, who is reportedly pregnant, has been handed an 18 month sentence with a seven month non-parole period in a hearing at Parramatta Local Court on Thursday. 
Sultana converted $208,689 from her company's sales trust account and $55,062 from Century 21's rental trust account. She was also convicted of failing to lodge $66,650 of rental bonds. She was operating under the agency Century 21 Lifestyle Hawkesbury, via BLM Enterprises Pty Ltd located in Windsor, as can be <a target="_blank" href="https://www.fairtrading.nsw.gov.au/biz_res/ftweb/pdfs/About_us/Enforcement_actions_report_Jul_Sep_2013.pdf">seen in Fair Trading's enforcement report</a>. BLM is currently under administration.
Century21 Australasia chairman Charles Tarbey said the company took a proactive approach to addressing Sultana's actions.
"We were party to finding that problem, and we reported it. We assisted the Department of Fair Trading," he said.
"We audit our offices, and there's no level of tolerance for that. And as far as we're concerned, when we found out, we immediately opened up to the authorities any information we could provide, because we operate in real time, and could see all the transactions. And the Department of Fair Trading got everything they needed."
Tarbey said there were multiple practices in place to monitor the accounts of franchisees.
"Because we operate in real time, we can see all their transactions. They also have an obligation to provide us with a full audit. And when we requested one and it wasn't available, that was when the flag went up for us - and when it was requested again, that's when the flag went up again.
"And we said, 'If we don't receive this within, we'll be reporting [the matter] to the Department of Fair Trading."
The Century21 Australasia chairman noted that this was not an isolated incident in the industry.
"It's not the first time - and it's not the first time for my business, either. You see it around the traps.
"A perfectly good franchisee has issues outside of your franchise, and the relationship you have with them in business - you don't know what they do.
"I understand one of the people reported on today, from another franchise group, had a drug and gambling problem. I don't think any franchisor would know that. In fact, I don't think any employer would find that about some of their employees.
"There have been many cases where employees in legal firms, accountancy practices and real estate agencies have defrauded the trust accounts, and it takes an audit to pick it up. And those audits are only legally required annually. So a lot can happen in that period of time."
 
As a result of her actions, Sultana's real estate license has also been cancelled. She has been disqualified by NSW Fair Trading from holding a license or certificate for 10 years, and disqualified from being involved in the direction, management or conduct of the business of a licensee for 10 years. Sultana was formerly the director and company secretary of BLM Enterprises, trading as Century21 Hawkesbury.
The breach was found during a NSW Fair Trading compliance campaign into real estate traders who failed to lodge their auditor's reports for the 2010/2011 financial year. 
Trust accounts are used by agents to hold money on behalf of buyers. They cannot legally be used for a purpose other than to hold funds for the completion of a sale or transaction. According to NSW Fair Trading, disincentives for commiting trust fund fraud have not been high enough. NSW Fair Trading commissioner Rod Stowe told the ABC that the body has recently changed its policies to deal with trust fund fraud more aggressively.
"It was our view that there was not a strong message going to people in that industry that they wouldn't get away with it," Stowe told the ABC. "While we were taking their licences away, we weren't stopping them from making a living."
NSW Fair Trading is now actively seeking criminal prosecution in cases of trust fund fraud, said Stowe.
According to Tarbey, he has a zero tolerance policy for any fraudulent behaviour by employees or franchisees.
"I won't tolerate it. If I see it, hear about it, if anybody even whispers about it - that's it."
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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Pregnant Century 21 agent jailed for 18 months after siphoning $330,000 from trusts

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Construction at the 2,418 square metre site at 177 Pacific Highway in North Sydney has commenced. 
A groundbreaking ceremony was held for the 30 level Leighton Properties development, to be built by Leighton Contractors (artistic impression below). The $413 million, development, with 40,000 square metres of floor space, is set to become the Leighton Group’s new global hub.
<img alt="north-sydney-aug-21-one" height="517" width="470" src="/images/stories/2014/02/19/north-sydney-aug-21-one.gif">
At the ceremony, Leighton Holdings chief executive officer Hamish Tyrwhitt noted the date’s significance for the company.
“This is a great milestone to be celebrating today. For the Leighton Group this is a step towards creating the next generation workspace for our staff - one that fosters collaboration, innovation and performance and is an example of our corporate values,” Tyrwhitt said.
The development will be North Sydney’s first new commercial tower in six years, according to Leighton Properties managing director Mark Gray.
“177 Pacific Highway will add an entirely new dimension to the North Sydney skyline,” he said. “Being the first new ESD rated commercial tower in six years it will provide the market with much-needed A-grade accommodation. It signals an important next step in North Sydney’s continued development as a commercial CBD,” Gray said.
Gray expects that Leighton’s reputation will attract strong demand from commercial tenants.
“We expect the certainty of the completion date, and the commitment and involvement of Leighton, will make this a highly sought-after building for companies wanting to secure a noteworthy address,” said Gray.
10,000 square metres of the building’s top level space is still available for lease, with 76% of the tower’s total space leased by Leighton.
The building was designed by Bates Smart, and is scheduled for completion and occupancy in early 2016. The company is targeting a 5 Green Star and 5 Star NABERS energy rating for the building.
The ground levels of the building will include cafes and retail spaces.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Construction begins at Pacific Highway, North Sydney commercial tower

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Just in case you haven't had the appropriate dose of romance this Valentine's day, Property Observer brings you three holiday rentals that are bound to bring a little loving your way.
Coonawarra Vineyard, South Australia
{yoogallery src=[images/stories/2014/02/14/coo]}
If the soft-focus didn't clue you in, the rose petals in the bathtub transmit the message loud and clear - this rental is all about romance. But in case you still haven't gotten it, the two champagne glasses and the long stemmed roses next to the tub should do the trick.
If you're after a bit of seclusion with your other half, Honeysuckle Lodge certainly looks like the place to get it. If you won't take our word for it, ask the couple casually sipping wine in front of the open fire.
 
Jacaranda at Jambaroo, New South Wales
{yoogallery src=[images/stories/2014/02/14/jam]}
This one bedroom self contained cottage on a rural estate has all the ingredients for a great romantic getaway - seclusion, beautiful landscapes and a great kitchen. And, at the right time of year, we bet that pond would generate some mist worthy of Wuthering Heights. Of course, the rental comes with the requisite red bedding.
 
Reid's Place, Redcliffe, Queensland
{yoogallery src=[images/stories/2014/02/14/red3]}
If there's any lesson to learn this Valentine's Day, it's that nothing says 'I love you' like bathrobes. Thankfully, on this front, Reid's Place delivers. The listing shows couples eating breakfast in bathrobes, eating another meal in their bathrobes, and putting away dishes in bathrobes.
There's even a shot of two bathrobes hanging side by side, just for good measure. All this bathrobe wearing is thankfully explained by two shots of two different (but eerily similar looking) couples enjoying bubble baths at Reid's Place. Only one gets the red petal treatment, but both get to crack into some champagne.
While it might be a little late to book one of these romantic getaways for you and your special someone, keep them in mind for the next time you need to escape for the weekend. And if you're on the other side, and thinking of renting out your property for a short term holiday rental, take a look at our <a href="https://www.propertyobserver.com.au/landlords/holiday-and-short-term-rentals-do-the-finances-stack-up-in-a-real-life-case-study/2014021167712">Airbnb case study</a>.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_parent">jrichardson@propertyobserver.com.au</a>
 
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We'll always have Coonawarra: Three romantic Valentine's Day rentals

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While we at Property Observer occasionally feel giddy over a good property, we try to draw the line at getting romantic about real estate. Clare and Terry Cantwell, of the Property Palace in Queensland, do not.
In their listing for <a target="_blank" href="https://www.realestate.com.au/property-house-qld-karana+downs-116003663">161 College Road, Karana Downs</a> (pictured below), the agents get positively swept away. The listing's opening lines:
BE MY VALENTINE!!! WITH THIS ROMANTIC COTTAGE!!!
Roses are Red, Violets are Blue, this romantic cottage could be for you!!!!
You dont need to go away for a romantic getaway as you can now live it everyday in this immaculate Chalet Style Home right here in Karana Downs!!
{yoogallery src=[images/stories/2014/02/14/kar]}
According to Clare Cantwell, she decided to take advantage of the holiday after viewing the property.
"I looked at it and I thought, the theme of the property is all red and white, it's a lovely cottage, and it's very romantic," she said. "I always think about the time of year [the property will be listed], and when I realised it was Valentine's Day, I thought, 'terrific!'"
Of her marketing strategy, Cantwell said, "It's not dull and boring, and it does grab people's attention. With a property like this, why not?"
While the property itself has plenty of charm, with exposed timber ceilings and a claw-footed bath, our favourite detail on the listing is Clare and Terry's photo (pictured below). The couple, who are both former police officers, are pictured in front of a bright red backdrop, with Terry delivering a truly arresting stare straight out of The Bold and the Beautiful.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="batb-feb-14-one" src="/images/stories/2014/02/14/batb-feb-14-one.jpg" height="333" width="300">
With the property market so often dominated by doom and gloom or nail-biting anxiety, it's nice to see a little bit of love is still in the air. 
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Be mine, dear...Karana Downs cottage?

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The three-bedroom Archibald penthouse in The Residence apartment tower is now on the market through CBRE. The last remaining penthouse in the complex, the 690 square metre Archibald has panoramic views and includes a private pool and spa, a rooftop kitchen and outdoor terraces.
The penthouse was named after Jules Francois Archibald, the Australian journalist who founded The Bulletin. According to CBRE agent Ben Stewart, who is marketing the property with Caroline Fagerlund, the apartment was designed by Sydney-based architectural firm Scott Carver with attention paid to its environmental efficiency.
“This apartment has been designed to the highest environmental standards and demonstrates an intelligent design approach that draws inspiration from the phenomenal beauty of its location,” said Stewart.
{yoogallery src=[images/stories/2013/08/aug28syd]}
Last year, the penthouse adjacent to the Archibald, known as <a href="https://www.propertyobserver.com.au/news/hyde-park-the-residence-penthouse-sale-confirmed-at-%2417-million/2013082764609" target="_blank">the Sulman</a> (pictured above, made headlines when it was purchased for $17 million by an offshore buyer with children who were studying at university in Sydney.
The Residence is located on College Street in Hyde Park and comprises 87 apartments.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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The Residence in Hyde Park's final penthouse now selling

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <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> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

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"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

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The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Jessie Richardson

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