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According to the latest data from the Real Estate Institute of Victoria (REIV), the eastern Melbourne suburb of Doncaster recorded the highest annual growth in unit prices.
The median sales price of units in Doncaster for 2013 was $652,000, up 33.7% from 2012.
Of the top 20 growth suburbs listed by the <a href="https://www.reiv.com.au/~/link.aspx?_id=4FF20028A7DB491F9728F6DB37B82EFD&amp;_z=z" target="_blank">REIV</a>, 15 recorded annual price growth for units of over 20%, with Doncaster, Bentleigh, Caufield North, Dandenong and Bentleigh East making up the top five. 
Doncaster's 2013 growth was sustained through to the final quarter of the year, with the suburb recording a 28.9% increase in median unit price from the September quarter.
This three bedroom, one bathroom Doncaster apartment at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/apt-29-81-83-tram-road-doncaster/Property-Details-buy-residential-5457965">29/81-83 Tram Road</a> (pictured below)  is currently selling with a minimum asking price of $599,000.
{yoogallery src=[images/stories/2014/02/06/don]}
 
<a href="https://www.realestateview.com.au/Real-Estate/5-7-curlew-court-doncaster/Property-Details-buy-residential-6667089" target="_blank">5-7 Curlew Court</a> in Doncaster is also selling off the plan. The three bedroom, two bathroom apartment has a minimum asking price of $590,000.
{yoogallery src=[images/stories/2014/02/06/don2]}
 
Another Doncaster apartment, one of the many newer units in the suburb, is currently selling with an asking price of $630,000. The two bedroom unit is at <a href="https://www.realestateview.com.au/Real-Estate/27-3-sovereign-point-doncaster/Property-Details-buy-residential-6386041" target="_blank">27/3 Sovereign Point</a>. 
{yoogallery src=[images/stories/2014/02/06/don3]}
 
The REIV's top 20 growth suburbs for units
<table style="width: 470px;" cellspacing="0" cellpadding="0" border="0">
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<td width="522" colspan="5" height="20">Note: Only suburbs where a minimum of 25 sales recorded in the quarter are included.</td>
</tr>
<tr height="21">
<td colspan="2" height="21">
<h3>Top 20 Growth Suburbs (Quarterly)</h3>
</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="51">
<td height="51"></td>
<td width="180">Suburb</td>
<td width="77">Dec-13 Median</td>
<td width="77">Sep-13 Median</td>
<td width="80">Quarterly Change</td>
</tr>
<tr height="20">
<td align="right" height="20">1</td>
<td>HIGHETT</td>
<td align="right">$625,000</td>
<td align="right">$485,000</td>
<td align="right">28.9%</td>
</tr>
<tr height="20">
<td align="right" height="20">2</td>
<td>DONCASTER</td>
<td align="right">$652,000</td>
<td align="right">$546,500</td>
<td align="right">19.3%</td>
</tr>
<tr height="20">
<td align="right" height="20">3</td>
<td>CARNEGIE</td>
<td align="right">$496,000</td>
<td align="right">$417,544</td>
<td align="right">18.8%</td>
</tr>
<tr height="20">
<td align="right" height="20">4</td>
<td>DANDENONG</td>
<td align="right">$335,000</td>
<td align="right">$285,000</td>
<td align="right">17.5%</td>
</tr>
<tr height="20">
<td align="right" height="20">5</td>
<td>MELBOURNE</td>
<td align="right">$517,000</td>
<td align="right">$449,000</td>
<td align="right">15.1%</td>
</tr>
<tr height="20">
<td align="right" height="20">6</td>
<td>MALVERN EAST</td>
<td align="right">$707,500</td>
<td align="right">$620,000</td>
<td align="right">14.1%</td>
</tr>
<tr height="20">
<td align="right" height="20">7</td>
<td>BOX HILL</td>
<td align="right">$461,500</td>
<td align="right">$405,000</td>
<td align="right">14.0%</td>
</tr>
<tr height="20">
<td align="right" height="20">8</td>
<td>MENTONE</td>
<td align="right">$550,000</td>
<td align="right">$485,000</td>
<td align="right">13.4%</td>
</tr>
<tr height="20">
<td align="right" height="20">9</td>
<td>CAULFIELD NORTH</td>
<td align="right">$676,000</td>
<td align="right">$597,500</td>
<td align="right">13.1%</td>
</tr>
<tr height="20">
<td align="right" height="20">10</td>
<td>ARMADALE</td>
<td align="right">$594,000</td>
<td align="right">$528,000</td>
<td align="right">12.5%</td>
</tr>
<tr height="20">
<td align="right" height="20">11</td>
<td>CHADSTONE</td>
<td align="right">$663,500</td>
<td align="right">$590,000</td>
<td align="right">12.5%</td>
</tr>
<tr height="20">
<td align="right" height="20">12</td>
<td>HAWTHORN</td>
<td align="right">$538,000</td>
<td align="right">$479,500</td>
<td align="right">12.2%</td>
</tr>
<tr height="20">
<td align="right" height="20">13</td>
<td>COBURG</td>
<td align="right">$525,000</td>
<td align="right">$469,000</td>
<td align="right">11.9%</td>
</tr>
<tr height="20">
<td align="right" height="20">14</td>
<td>ASCOT VALE</td>
<td align="right">$514,750</td>
<td align="right">$462,500</td>
<td align="right">11.3%</td>
</tr>
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<td align="right" height="20">15</td>
<td>KEW</td>
<td align="right">$650,000</td>
<td align="right">$584,850</td>
<td align="right">11.1%</td>
</tr>
<tr height="20">
<td align="right" height="20">16</td>
<td>ST KILDA</td>
<td align="right">$476,000</td>
<td align="right">$431,500</td>
<td align="right">10.3%</td>
</tr>
<tr height="20">
<td align="right" height="20">17</td>
<td>NOBLE PARK</td>
<td align="right">$340,000</td>
<td align="right">$309,500</td>
<td align="right">9.9%</td>
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<td align="right" height="20">18</td>
<td>DONCASTER EAST</td>
<td align="right">$720,000</td>
<td align="right">$656,500</td>
<td align="right">9.7%</td>
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<td align="right" height="20">19</td>
<td>BENTLEIGH</td>
<td align="right">$755,000</td>
<td align="right">$690,000</td>
<td align="right">9.4%</td>
</tr>
<tr height="20">
<td align="right" height="20">20</td>
<td>CAMBERWELL</td>
<td align="right">$665,000</td>
<td align="right">$608,750</td>
<td align="right">9.2%</td>
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<h3>Top 20 Growth Suburbs (Annual)</h3>
</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="50">
<td height="50"></td>
<td width="180">Suburb</td>
<td width="77">Dec-13 Median</td>
<td width="77">Dec-12 Median</td>
<td width="80">Annual Change</td>
</tr>
<tr height="20">
<td align="right" height="20">1</td>
<td>DONCASTER</td>
<td>$652,000</td>
<td>$487,500</td>
<td align="right">33.7%</td>
</tr>
<tr height="20">
<td align="right" height="20">2</td>
<td>BENTLEIGH</td>
<td>$755,000</td>
<td>$566,250</td>
<td align="right">33.3%</td>
</tr>
<tr height="20">
<td align="right" height="20">3</td>
<td>DANDENONG</td>
<td>$335,000</td>
<td>$256,500</td>
<td align="right">30.6%</td>
</tr>
<tr height="20">
<td align="right" height="20">4</td>
<td>CAULFIELD NORTH</td>
<td>$676,000</td>
<td>$522,500</td>
<td align="right">29.4%</td>
</tr>
<tr height="20">
<td align="right" height="20">5</td>
<td>BENTLEIGH EAST</td>
<td>$765,000</td>
<td>$597,500</td>
<td align="right">28.0%</td>
</tr>
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<td align="right" height="20">6</td>
<td>BRIGHTON EAST</td>
<td>$862,500</td>
<td>$680,000</td>
<td align="right">26.8%</td>
</tr>
<tr height="20">
<td align="right" height="20">7</td>
<td>ORMOND</td>
<td>$537,500</td>
<td>$428,500</td>
<td align="right">25.4%</td>
</tr>
<tr height="20">
<td align="right" height="20">8</td>
<td>HAMPTON</td>
<td>$737,250</td>
<td>$592,500</td>
<td align="right">24.4%</td>
</tr>
<tr height="20">
<td align="right" height="20">9</td>
<td>CHADSTONE</td>
<td>$663,500</td>
<td>$535,000</td>
<td align="right">24.0%</td>
</tr>
<tr height="20">
<td align="right" height="20">10</td>
<td>CARLTON</td>
<td>$395,000</td>
<td>$320,000</td>
<td align="right">23.4%</td>
</tr>
<tr height="20">
<td align="right" height="20">11</td>
<td>TOORAK</td>
<td>$760,000</td>
<td>$618,000</td>
<td align="right">23.0%</td>
</tr>
<tr height="20">
<td align="right" height="20">12</td>
<td>KENSINGTON</td>
<td>$545,000</td>
<td>$444,000</td>
<td align="right">22.7%</td>
</tr>
<tr height="20">
<td align="right" height="20">13</td>
<td>RICHMOND</td>
<td>$646,000</td>
<td>$527,500</td>
<td align="right">22.5%</td>
</tr>
<tr height="20">
<td align="right" height="20">14</td>
<td>HUGHESDALE</td>
<td>$554,000</td>
<td>$457,500</td>
<td align="right">21.1%</td>
</tr>
<tr height="20">
<td align="right" height="20">15</td>
<td>CARNEGIE</td>
<td>$496,000</td>
<td>$410,500</td>
<td align="right">20.8%</td>
</tr>
<tr height="20">
<td align="right" height="20">16</td>
<td>ST KILDA EAST</td>
<td>$537,000</td>
<td>$450,000</td>
<td align="right">19.3%</td>
</tr>
<tr height="20">
<td align="right" height="20">17</td>
<td>HIGHETT</td>
<td>$625,000</td>
<td>$524,000</td>
<td align="right">19.3%</td>
</tr>
<tr height="20">
<td align="right" height="20">18</td>
<td>KEW</td>
<td>$650,000</td>
<td>$550,000</td>
<td align="right">18.2%</td>
</tr>
<tr height="20">
<td align="right" height="20">19</td>
<td>CAMBERWELL</td>
<td>$665,000</td>
<td>$566,000</td>
<td align="right">17.5%</td>
</tr>
<tr height="20">
<td align="right" height="20">20</td>
<td>CROYDON</td>
<td>$440,000</td>
<td>$375,000</td>
<td align="right">17.3%</td>
</tr>
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<td colspan="2" height="21">Source: REIV</td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
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<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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jrichardson-uRX5hFdKfN

Doncaster units up 28.9% in December quarter, tops Melbourne growth suburbs: REIV

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A judge has ruled against an appeal launched by Taras Pty Ltd, the former land owners of a plot that now houses part of the Victoria Gardens complex in Richmond, regarding an objection decision issued by the Commissioner of Taxation.
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YOU MIGHT ALSO WANT TO READ: <a target="_blank" href="https://www.propertyobserver.com.au/tax/understanding-capital-gains-tax-terry-hayes/2013040353251">Understanding capital gains tax</a> with Terry Hayes Ask Margaret: <a target="_blank" href="https://www.propertyobserver.com.au/tax/ask-margaret-can-i-avoid-cgt-when-i-sell-my-home/2013020759235">Can I avoid CGT when I sell my home?</a>


<hr>
In the ruling, the judgement stated that Taras made a capital gain in the 1999 financial year after it transferred its land to a joint venture involving the adjacent land holders that would become the Victoria Gardens complex. As such, Taras owed capital gains tax for the transaction, and was also liable for an administrative penalty for claiming a net loss for 2000 and 2002.
In 1995, Taras purchased four lots of land at 27/45 Burnley Street, Richmond, running east from Burnley Street to the Yarra River for $8.5 million, including stamp duty. Two years later, Taras began discussions with two adjacent land holders, about the “possibility of combining the three properties and having them rezoned to permit a multi-use development” which would include a combination of industrial, residential, retail and commercial components.
In 1998 a joint venture agreement – the Victoria Gardens Property Trust – was executed between the three land holders. Taras agreed to execute a transfer of its land to the newly formed Victoria Garden Developments Pty Ltd as a trustee, for a price of $28.5 million (none of the parties involved disputed the fact that $28.5 million greatly exceeded market value).
For the 1999 year, Taras claimed a tax loss of $1.7 million, on the basis that the its transfer of land to Victoria Gardens Developments was on the basis of the new company as a trustee, so no capital gains tax event occurred. They also filed tax returns for subsequent years claiming losses carried forward from 1999.
The Commissioner disagreed. Auditing Taras, the Commissioner of Taxation decided that a capital gains tax event did occur when the joint venture agreement was formed in August 1998, when Taras ceased to become the outright owner of their portion of the land land, and instead became entitled to interest in the land.
Noting that the $28.5 million figure for the Taras land was far above market value, the Commissioner, after some revision, assessed the land’s value as $16.6 million – resulting in a capital gain of $7.6 million for the 1999 tax year.
Taras has objected to the Commissioner’s decision a number of times.
In this appeal, it argued against the market value assessed by the Commissioner, and also claimed that no actual proceeds were made from capital gains until the entire land was later sold to a third party outside of the Victoria Gardens joint venture.
Victoria Gardens Developments, argued Taras, was merely a mechanism to allow the parties to develop the land. Once the land was transferred from Taras to the Victoria Gardens Developments, Taras still remained the sole beneficiary of the trust over that land, and Victoria Gardens Developments held the land solely for Taras.
The Commissioner has claimed that Taras did make a commercial gain from the transfer of its land to the trust, although cash payments were spread out over a number of years. It also argued that capital gains tax legislation must be used according to ordinary interpretations of its terms, rather than “views of ‘commercial reality’”.
<a target="_blank" href="mailto:richardson@propertyobserver.com.au">richardson@propertyobserver.com.au</a>
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Victoria Gardens capital gains tax appeal defeated in court

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Apartments are now available to purchase as construction commences at the Hing Loong development in Sydney’s Chinatown.
The 17 storey development will be situated on the pedestrian-only Dixon Street, and is set to be Dixon Street Plaza’s first residential tower. Hing Loong will have 47 one, two and three bedroom apartments, each with European stainless-steel appliances, stone kitchen benches and timber flooring. It will also include a three bedroom penthouse apartment which will have access to rooftop decks, barbecue facilities and a 'Dragon Pavilion' which is set over the building.
Set on a corner plot, the building’s exterior will feature large open screens with a “cracked” effect. Residents will live within walking distance of Sydney’s new Westfield complex.
Constructed by Chinese developer War Hing, the building was designed by Allen Jack + Cottier. The design firm has worked on residential and commercial projects in both Sydney and Beijing.
Apartments are available from this week. Prices begin at $690,000.
Back in 2012, The Quay development, a 270-apartment complex, was seeing intense interest as <a href="https://www.propertyobserver.com.au/developments/the-quay-development-on-long-dormant-sydney-chinatown-site-sells-well-in-first-weekend/2012042954320" target="_blank">one of the last of 20 'black holes' in the area</a>.
Sydney's Chinatown is located in <a href="/news">Haymarket</a>, between Central Station and Darling Harbour. <a href="https://www.propertyobserver.com.au/news/lend-lease-haymarket-redevelopment-gets-green-light/2013121066864" target="_blank">Lend Lease has also been active in the area</a> recently, with the new Sydney International Convention, Exhibition and Entertainment Precinct attracting interest.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">Investor Showcase</a>.
Images are artist impressions.
 
 
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Construction begins at Sydney Chinatown development Hing Loong

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At Property Observer, we see a lot of beautiful property listings. The best inspire feelings of awe, appreciation and a little bit of covetousness. But at <a href="https://looneylisting.com/">Looney Listing</a>, the featured properties are more likely to evoke confusion, and sometimes, fear. We’ve picked our favourite five looney listings.
After we featured a property with the <a href="https://www.propertyobserver.com.au/new-south-wales/a-toilet-in-the-kitchen-a-strange-unit-layout/2014012067267">toilet in the kitchen</a>, it was only a matter of time before somebody raised the stakes, with a <a href="https://looneylisting.com/2013/10/07/because-dinner-with-horse-thats-why-so-shut-up/" target="_blank">taxidermied horse watching over the dining table</a>. From the pictures, it appears that the property’s 12 stall stable is directly attached to the main house.
If you like your chips served with dead horse, this is the home for you.
{yoogallery src=[images/stories/2014/01/28/loon1]}
Article continues on next page. Please click below.
 
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Putting your family home up on the market is tough for anyone. There are meetings with the real estate agent, the matter of finding a new house, organising the move and letting go of the place you live in.
In the midst of all that, no one would blame you if there are a few toys left out when the photographer comes past to take pictures for your listing.
But there’s something about <a href="https://looneylisting.com/2013/06/21/so-wrong/" target="_blank">this particular toy</a> which marries so perfectly with the plastic bed protectors, the mustard carpet and the low resolution photography to make the creepiest real estate photo we’ve seen in a long time.
{yoogallery src=[images/stories/2014/01/28/loon2]}
Article continues on next page. Please click below.
 
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While some would argue that a good real estate photo will impart a sense of drama, not science-fiction, we at Property Observer find <a href="https://looneylisting.com/2012/11/05/money-cant-buy-taste/" target="_blank">this particular listing</a> quite endearing, if not to everyone’s taste.
The floor to ceiling marble (or, more likely, marble-effect painted porcelain) might be a bit much for some, and there’s a strong argument to be made against a fur throw that covers an entire king sized bed, but when we look at this property, we see a home that’s probably given its owners a lot of joy.
That being said, it’s hard to defend the war weapons hanging over the side by side urinals.
{yoogallery src=[images/stories/2014/01/29/loo1]}
And we're not really sure what some of the objects in these photos actually are.
{yoogallery src=[images/stories/2014/01/29/loo2]}
Article continues on next page. Please click below.
 
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We’ve seen more than our fair share of objectively <a href="https://www.propertyobserver.com.au/residential/the-strangest-real-estate-photographs-add-yours-to-the-collection/2014012167282">bad real estate photos</a> at Property Observer. 
But sometimes listing photos are so terrible that you wonder whether the seller has committed some awful sin against their real estate agent.
The finger over the lens, the blacked out bathroom, Whoopi – we’d say <a href="https://looneylisting.com/2013/07/15/giving-whoopi-the-finger/" target="_blank">this agent has exacted their revenge</a>.
{yoogallery src=[images/stories/2014/01/28/loon4]}
Article continues on next page. Please click below.
 
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At first glance,<a href="https://looneylisting.com/2013/09/11/what-happens-underground-stays-underground/" target="_blank"> this house looks a little peculiar</a>.
Scroll back for another look and you’ll realise that why – it’s built in a man-made cave sitting 26-feet underground.
The pastoral murals around the “garden” have a certain nostalgic (pre-apocalypse) charm, while the 1950s-style interior can soothe your Cold War anxieties. This elaborate bunker was on the market for US$1.7 million.
{yoogallery src=[images/stories/2014/01/28/loon5]}
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
 
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Five of the most bizarre property listings from Looney Listing

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Two retail spaces in Mirvac’s Waverley Park Stadium have been listed through Colliers International.
The food and beverage outlets are expected to sell for over $1.5 million total. Shop Seven is currently leased to The Last Piece Café until October 2023, with a five year option, and Shop One is the Stadium Fish and Chippery. Colliers International’s Jeremy Gruzewski says that Shop Seven provides about $90,000 in net rental income, while he expects that Shop One will attract interest above $350,000.
“The retail component of the former VFL stadium, and current Hawthorn Football Club training ground, provides a variety of amenity to the local community as well as surrounding business parks and industrial estates,” Gruzewski said.
“There is a strong appetite for low-risk investments which have been apparent in recent suburban retail results,” he said. “By far, retail is the most sought after and affordable commercial investment in the current market."
Tom Noonan of Colliers International, who is also handling the sale with Gruzewski, expects interest from private investors and self-managed super funds.
Mirvac’s Waverley Stadium in <a target="_blank" href="/news">Mulgrave</a> is the home of the Hawthorn Football Club. The properties will be auctioned on March 19.
jrichardson@propertyobserver.com.au
 
 
 
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Waverley Park Stadium shops on the market

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The sale of a waterfront property in Brisbane’s inner east has reached the record price for a Brisbane residence in 2013.
Negotiated by Place, the Hawthorne property sold through an extensive campaign, with tenders received by international and local investors.
The six bedroom home was completed on a 1,654 square metre block in 2008. With three storeys, it includes five bathrooms, a pool, a designated media room and a six-car garage with lift access. The riverfront property at <a href="https://www.realestate.com.au/property-house-qld-hawthorne-114475147" target="_blank">114 Virginia Avenue</a> also features a boat shed and patio.
{qtube vid:=TX5PIRRPdMU}
According to Place chief executive Damien Hackett, there was significant movement in Brisbane’s residential market last year.
“We saw great strength in the market over the last few months of the year, which has continued into 2014, with properties selling quickly as confidence markedly improves amongst both buyers and sellers,” he said.
“The sub-$1 million price bracket led the way in Brisbane’s regaining strength, but we have also seen a significant improvement in the top end, which started towards the end of 2013.”
Hackett says that the city’s prestige market had a stronger performance than expected, with the $7.5 million Virginia Avenue sale one of four properties that sold for more than $4 million each in a single week in December. He noted that the market for top end properties is generally linked to activity in the stock market.
“As long as the stock market keeps performing it will be positive for the higher end of the property market,” he said.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
 
 
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Waterfront Brisbane home makes late run to take out Brisbane's most expensive sale of 2013

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About 120 Gold Coast properties will be taken to auction next week, in what is widely regarded as Australia’s largest in-room auction showcase.
The one-day event by Ray White Surfers Paradise Group will open at 11am on January 27 with a market report presentation by auctioneer Andrew Bell, the group’s CEO. Dubbed “The Event”, it will be the 21st annual real estate auction showcase for the group.
<a href="https://www.propertyobserver.com.au/news/gold-coast-seeing-the-best-real-estate-market-conditions-in-more-than-eight-years/2013120566642" target="_blank">The Event will be hosted at the Gold Coast Turf Club in Bundall</a>. A prestige auction event will also be held by the group on Thursday January 30.
Property Observer readers will be able to read about all the highlights next week.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Gold Coast to host Australia’s biggest real estate auction from Monday

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Archers Body Corporate Management has released a list of Australia Day party dos and don’ts following complaints regarding over-zealous partiers during last month’s holiday season.
To avoid conflict with your neighbours and bodies corporate, Archers director Andrew Staehr said it’s important to be prepared when throwing a party.
“Your body corporate may allow you to hold parties on certain areas of common property but you must ensure that it is booked and is large enough for the number of guests invited,” Staehr said.
“Emergency actions are not something people generally think about when planning a party but it’s crucial to be prepared in case something does go wrong.”
Staehr recommends that hosts double check smoke detectors and make sure that any partygoers have a handle on the building’s exits and evacuation plans. And remember – your guests are your responsibility.
“Ensure guests do not lean over or against balustrades and no rubbish is thrown over the balcony,” said the safety-conscious Staehr.
Here are Staehr’s other tips for hosting a body corporate-friendly Australia Day party:
1. Communicate with your body corporate and be aware of the common by-laws and house rules in regards to the number of people permitted in various common areas and what time noise must be reduce
2. Utilise a booking system for common facilities such as BBQs to avoid overcrowding and argument
3. Ensure all rules are enforced for facilities with closing times or other restrictions, like the pool
4. Be aware of the body corporate procedures to report a complaint if a party does get out of hand
5. Communicate with your neighbours and let them know party details so they are aware of what is going on
6. Communicate with guests and ensure they know the rules of your complex, including where to park, noise restrictions and common property restrictions.
They won’t save you from burnt sausages, or that one guest who’s a little too excited about their sense of national pride, but Staehr’s tips will hopefully ensure that you’re still getting along with the body corporate (and your neighbours) the morning after.
What are some of your party dos and don'ts?
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
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Tips for your Australia Day party, courtesy of the body corporate

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Ahead of the Reserve Bank of Australia’s (RBA) February announcement, Property Observer asks the experts what they predict will happen to the interest rate – with a single answer across the board.
Shane Oliver – Head of investment strategy and chief economist, <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a>  <img width="125" height="150" src="/images/stories/2013/10/25/shane-oliver-profile.jpg" alt="shane-oliver-profile" style="float: right;">
WE’VE SEEN CLEAR EVIDENCE THAT INTEREST RATE CUTS HAVE STARTED TO GAIN TRACTION
I think they’ll leave the rate on hold – and there are several reasons. Firstly, the last rate cut was now back in August – it’s been about six months with rates on hold. Given that the Reserve Bank has already cut interest rates to record lows, it’s unlikely that they’ll like to drop them further.
I think the reality is that over recent months, we’ve seen clear evidence that interest rate cuts have started to gain traction. Housing prices picked up in the last quarter of last year, and there’s now evidence that interest rate cuts have flowed through to housing construction activity. Consumer and business confidence has also bottomed out, while retail is beginning to pick up. The strong Australian dollar was a concern, but we have seen that weaken – in fact, last week we saw the Australian dollar drop below US 88 cents, for the first time since 2010. That coupled with strong indicators in the economy will leave the Reserve Bank feeling confident.
We might see rate hikes in the December quarter, perhaps around October. Right now, the economy is still probably not strong enough for an interest rate increase. We’ll be looking at at least 12 months of rates on hold.
 
Angie Zigomanis  – Senior manager, residential, <a href="https://www.bis.com.au" target="_blank">BIS Shrapnel</a> <img style="float: right;" alt="Angie-Zigomanis--porfile" height="150" width="125" src="/images/stories/2013/10/25/Angie-Zigomanis--porfile.jpg">
UNDERLYING INFLATION IS STILL LIKELY TO BE AT A COMFORTABLE LEVEL FOR THE RESERVE BANK
We do not expect the Reserve Bank to change interest rates at its February meeting. Headwinds still face the Australian economy. Resource sector investment is estimated to have peaked and is now tapering off, while growth in other sectors of the economy is not yet picking up at a pace to sufficiently offset this decline in the short term.
Nevertheless, there are signs that the current levels of interest rates are doing their job. After declining in 2011 and 2012, house prices have stabilised and have been growing in some cities in 2013. This is encouraging new dwelling activity, with an upturn in residential construction nationally now appearing to be entrenched.
While inflation for December was a little higher than most analysts expected, there were some “one-off” factors that helped to drive the numbers, and underlying inflation is still likely to be at a comfortable level for the Reserve Bank. As a result, we expect the cash rate to be held at current levels for now.
Article continues on next page. Please click below.
 
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Cameron Kusher – Senior research analyst, <a href="https://www.rpdata.com/" target="_blank">RP Data</a> <img style="float: right;" alt="cameron_kusher_new" height="156" width="125" src="/images/stories/2014/01/28/cameron_kusher_new.jpg">
WE COULD SEE AN INCREASE IN THE INTEREST RATE LATER THIS YEAR
Obviously [the other week] we had some pretty confronting results. I think inflation is a lot higher than people expected. But I think generally rates will be on hold for the next few months. The RBA will want further evidence that inflation is growing, and that the economy is picking up.
They’ve said all along that what they’ve wanted to see from interest rate cuts is a handover from the resources boom to the housing sector, which they’re getting. We’re seeing higher home values.
So the likelihood is that rates will stay still for the next few months. But we could see an increase in the interest rate later this year. The RBA are pretty concerned with just how quickly Melbourne and Sydney have been growing over the past year. If home values continue to accelerate, that could move them to increase rates.
At the moment we’re seeing 2.7% annual inflation. If that starts heading up to the higher end of their target band, that would also impact interest rates. And with the Australian dollar dropping, we might start importing inflation from overseas.
Any increase in the interest rate won’t happen til the second half of the year at the absolute earliest – most probably late in the year.
 
Alex Parsons – Chief executive officer of <a href="https://www.ratecity.com.au/" target="_blank">RateCity</a>  <img alt="alex-parsons-profiel" height="150" width="125" src="/images/stories/2013/11/15/alex-parsons-profiel.png" style="float: right;">
A CUT IS OFF THE CARDS
I hate to be boring, but there will be no change in February. I think based on the inflationary figures that just came out, coupled with the property market, particularly in Sydney, a cut’s off the cards.
If we do see any movement, it’ll be a rise, but it’s too early for that – that will happen towards the end of the year. But obviously a lot can happen between now and then, in Australia’s economy and internationally.
For now though, the interest rate will stay put. Especially if we see the positivity in the market continue, and now that the dollar’s back in the range they’d like to see. Interest rates are at record lows – the RBA won’t be making any cuts over the next six to eight months.
But overall, consumers shouldn’t worry about RBA changes – they aren’t always passed on by the institutions anyway. Get out there and find out what rate you’re on, and compare it with what else is out there. You can save yourself some money, both on the borrowing side and the lending side.
And if you don’t have a four in front of your home loan interest rate today – get out and get a better one.
Article continues on next page. Please click below.
 
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Andrew Wilson – Senior economist, <a href="https://apm.com.au/" target="_blank">Australian Property Monitors  <img alt="AndrewWilson-profile" height="150" width="125" src="/images/stories/2013/10/04/AndrewWilson-profile.jpg" style="max-width: 480px; float: right;"></a>
THE IMPROVEMENT TO ECONOMIC ACTIVITY REMAINS A WORK IN PROGRESS
Interest rates settings have been a critical element driving the ongoing revival of Australian housing markets over the past year. Cuts to interest rates in May and August 2013 to the lowest levels in 60 years fuelled home buyer and investor activity with prices growth accelerating in all capital city markets over the second half of the year.
The easing of interest rates over the past two years has been a monetary policy initiative designed to stimulate economic activity in the face of the decline in the construction phase of the mining boom that has underscored economic growth in recent years.
Easier interest rate policy was also designed to reduce the relatively high value of the Australian dollar and increase the competitiveness of Australian goods and services in export markets.
Although lower interest rates are typically a catalyst for house price growth through improved affordability,  this is designed to be offset by an increase in dwelling construction to ameliorate short-term supply-demand imbalances that adds to prices growth – and also to add to economic activity.
The improvement to economic activity through lower interest rates remains very much a work in progress which leaves further scope for another easing in monetary policy through lower interest rates.
Employment in the major states of New South Wales and Victoria continues to deteriorate. Latest ABS data reports that the number of people with jobs in both those states has declined disturbingly over the past year and continues to trend downwards.
Dwelling construction as expected has improved recently although most of the increase in activity has been in planned apartment construction in Sydney and Melbourne which will not add to the stock of housing or economic activity in the short-term. The number of new houses approved remains underwhelming considering the level of stimulus in the market.
The Reserve Bank will likely wait until more data becomes available on the unfolding underlying nature of the economy in 2014 so an interest rate cut is unlikely in February. Although interest rates are likely to remain stable over the short-term the risks remain for another easing in monetary policy particularly if the New South Wales unemployment rate climbs above 6%.
There is certainly no realistic prospect in the foreseeable future of a rise in official interest rates despite the emergence of rising inflation.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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February's RBA rate decision: The experts make their predictions

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More than 200,000 RACV Insurance policy holders will receive refunds totalling over $11 million, following the announcement of a court enforceable undertaking from RACV Insurance’s underwriter, Insurance Manufacturers of Australia (IMA). Consumer Affairs Victoria has released a statement warning customers against possible scams that may target the refund process.
The refund agreement was negotiated by the Office of the Fire Services Levy Monitors, after it found that IMA increased its base building premiums by 11% in June 2013. The June premium hike followed two other increases that year, with IMA’s Fire Services Levy (FSL) rates reaching 26% in metropolitan areas and 36% in country areas.
The increase of base premiums by IMA offset the impact of the removal of the FSL, causing total building premiums on average to rise. In increasing its base premiums, IMA did not pass on the benefits of reforms to Victoria’s fire services to its policy holders.
According to Victoria’s Fire Services Levy monitor Allen Fels, "IMA stood out as the only major insurer to increase total building premiums over the last half of 2012–13. Parliament passed very strict laws to prevent insurers from taking advantage of this situation.”
The monitors also noted their disappointment that RACV did not make the premium increase transparent to its customers.
"RACV Insurance policyholders could not easily discern increases in base premiums as fire services levies were removed," said Fels.
The refund will be delivered to customers in the form of a cheque, with an explanation from IMA. The government body notes that neither RACV nor the IMA will be requesting a fee or any personal information from customers when delivering the refund. Any policy holders who are concerned about contact from callers claiming to represent IMA or RACV who request this information are encouraged to contact RACV directly.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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RACV customers warned of scams as insurer issues refunds

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.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"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."

[smartcode_project:default project_id=150017 project_image_fid=374052]

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.

[smartcode_project:default project_id=150017 project_image_fid=372547]

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.

[smartcode_project:default project_id=426 project_image_fid=360299]

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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