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GUEST OBSERVER
If you’ve owned your home for a number of years, it’s likely you’ve racked up some impressive gains in home equity – that’s the difference between the property’s market value and the balance of your home loan.
This means there’s a whole stash of cash just waiting to be tapped into either through a home loan refinance or a loan top up. While it’s tempting to spend up big, treating your home as an ATM isn’t healthy. We share some smart, sensible, and downright frivolous ways to use your home equity.
Smart moves
Use equity to renovate your existing home – Quality home improvements can add to your lifestyle; save on the cost and hassle of relocating to a new home, and best of all the renovations can increase the market value of your home.
Invest in a rental property – Using your home to grow wealth? Now that’s a smart move. Tapping into equity may even mean you don’t need to save for a cash deposit.
Sensible – with strings attached
Consolidating personal debt – If you’re juggling a few credit cards, a personal loan and maybe a car loan, consolidating the lot into your home loan can streamline your finances. It means just one monthly repayment to manage, and as home loans usually have a lower rate, you’ll save on interest costs.
But – and it’s a big but – you could be turning short term debts into a long term debt and end up paying more than necessary in long term interest. Use the savings on monthly repayments to make extra home loan repayments and keep a lid on interest costs while you whittle away the loan.
ME’s 10th biannual Household Financial Comfort Report shows that more households ‘paying off or owning a home’ reported to be drawing on their home equity to ‘pay off debt’ and ‘to make ends meet’ during the first half of 2016.
Think twice 
Here today, gone tomorrow purchases – using home equity to fund a round the world vacation, a new designer wardrobe, or any purchase with no real lasting value calls for some serious soul searching. Not only will you be whittling away precious equity, you are adding the cost of long term interest to the purchases.  
The time may come when you really need that equity for must-haves rather than luxuries. So think twice and weigh up other finance options like, say, a personal loan, which will allow you to pay off big ticket purchases buys in just a few years.
Patrick Nolan is head of home loans for industry super fund-owned bank ME. You can contact Patrick <a href="https://www.mebank.com.au/personal/home-loans/home-loans/" target="_blank">here</a>. 
 
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jchancellor-FAypfDUnLy

The good, the bad and the ugly of dipping into home equity: Patrick Nolan

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GUEST OBSERVER
The CBD office markets of Australia are in the midst of an unusual dynamic.
Sydney and Melbourne are in full rental growth and vacancy decline mode, while the other CBDs have low or negative rental growth, and vacancy rates in the double digits.
This is the first time since records began that the office markets have diverged to such an extent, and is reflective of the wider demographic and trends being felt in each state. That is, strong migration growth and employment growth in Sydney and Melbourne, and slowing population growth in the other states. 
Sydney 
The Sydney CBD office market is transitioning and opportunistic landlords have aggressively increased rents and reduced incentives as available office space diminishes. Almost 150,000 sqm of space will be withdrawn from the market by the end of 2017, as a result of the Sydney Metro project, as well as residential conversions. Over the short term tenant demand will outweigh net supply, maintaining downward pressure on vacancy rates until 2019. 
<img src="/images/2016/08/22/Colliersofficemarket.jpg" alt="">
Adelaide 
Despite the weakness in the Adelaide leasing market, there are signs that there is a pick-up in demand over the next 12 months. Enquiry has begun to improve and we are heading into a period of several large lease expiries which may be the catalyst for tenants to move. Access Economics are also forecasting an improvement in white collar employment during the first half of 2017. Most of which is likely to be through growth in small to medium enterprise. 
Perth 
The rise in vacancy in the Perth CBD – from 16.6 per cent in June 2015 to 21.8 per cent in June 2016 – combined with soft demand, continued to put pressure on landlords to reduce rents and offer higher incentives. Despite these efforts by landlords, net absorption remains subdued. This is a reflection of depressed business confidence and white collar labour market conditions. However, greater affordability has underpinned growth in demand from CBD and suburban tenants aspiring to migrate to a CBD address. This is expected to have a positive impact on net absorption going forward. 
Canberra 
Investor appetite in the Canberra CBD has improved, with a greater mix of investors generated by a high proportion of new entrants to the market. Recent lease deals indicate a slight shift of bargaining power toward landlords as tenant choice has decreased in some areas and sub markets. An increase in leasing activity and net absorption has placed downward pressure on vacancy and we expect vacancy levels to fall from 13.0 per cent currently to 11.0 per cent by July 2017. 
Melbourne 
Unusually for Melbourne, there were no new developments completed in the rst half of 2016, which resulted in the vacancy rate tightening by 80 basis points to 7.0 per cent during this period. Tenants looking for quality assets will have limited options over the next three years, given that the new wave of CBD core supply is only expected to come through in 2019/2020. Nearly all new supply being completed over the 2nd half of 2016 is spoken for by pre-committed tenants. 
Brisbane 
It is expected that Brisbane will continue to be a tenant’s market for the foreseeable future given the volume of vacant and sublease space available. The State Government has been increasingly active taking advantage of the favourable leasing conditions. Leasing enquiry has remained soft in the CBD market however, despite the soft leasing conditions, institutional investors have been active over the last 12 months, fiercely competing for prime stock when it has been brought to market. 
This article by Anneke Thompson appeared as part of Colliers International's CBD Office Research &amp; Forecast Report H2 2016. She is the national director of Research and can be contacted <a href="https://www.colliers.com.au" target="_blank">here</a>.
 
 
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Divergence in Australia’s CBD office markets unprecedented: Colliers

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There was definitely no risk of a national housing bubble, Alan Kohler, the Australian columnist and publisher of The Constant Investor, has suggested in his latest column.
Is there one in Sydney?
"Perhaps," he wrote in The Australian.
"Sydney just happens to be where people want to live and invest and, at the moment, there’s a lack of supply. 
"Maybe there’ll be a crash if supply catches up and interest rates rise.
"Big ifs," he suggested.
He noted the surge in Sydney’s auction clearance rate over the weekend to 86.4 per cent should lay to rest the myth that the housing market has stopped responding to lower interest rates and, secondly, that government decentralisation policies are worthwhile.
The weekend's preliminary clearance rate in Sydney was 10 percentage points higher than a year ago, and also 10 percentage points higher than the next highest result the 76 percent in Melbourne.
 
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Alan Kohler says perhaps there's a Sydney housing bubble

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A woman whose Canberra house was stolen by overseas scammers has sued the ACT government to recoup her money.
She was awarded $546,268 compensation yesterday.
"The evidence of the plaintiff in the present case was that she intended to keep the property and ultimately leave it to her children," he said in his decision.
The international fraudsters pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia.
The owner lived in South Africa at the time.  
The ACT Supreme Court has been told the thieves went to elaborate lengths to steal the MacGregor home, conning real estate agents, lawyers and a bank.
The fraudsters are yet to be caught two years after the fraud came to light after its 2014 sale. 
It was only the third time an Australian property has been sold fraudulently with two successful sales in 2011 and six attempted property frauds in Western Australia.
"I have never given instructions to anyone to sell the property on my behalf. I never had any intention of selling the property as I wanted to keep it for as long as I could and then pass it on to my children," the victim said in an affidavit obtained by Fairfax Media.
The fraud stripped the victim of any right to the property, which was legally transferred to the innocent purchaser couple.
Registered real estate purchases made in good faith are protected by the ACT Land Titles Act.
The woman is now suing the ACT government for statutory compensation, seeking damages for the property value, stamp duty and legal costs along with lost rental income.
The government disagrees that she is entitled to recover damages from the government.
"The plaintiff has a remedy against the fraudster under section 154 of the Act and must first take action against him or her before she may take action against the defendant," the government said in its submission.
Associate Judge David Mossop has reserved his decision.
The international fraudsters pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia.
The owner lived in South Africa at the time. 
The ACT Supreme Court has been told the thieves went to elaborate lengths to steal the MacGregor home, conning real estate agents, lawyers and a bank.
The fraudsters are yet to be caught two years after the fraud came to light after its 2014 sale.
"I have never given instructions to anyone to sell the property on my behalf. I never had any intention of selling the property as I wanted to keep it for as long as I could and then pass it on to my children," the victim said in an affidavit obtained by Fairfax Media.
The fraud stripped the victim of any right to the property, which was legally transferred to the innocent purchaser couple.
Registered real estate purchases made in good faith are protected by the ACT Land Titles Act.
The woman is now suing the ACT government for statutory compensation, seeking damages for the property value, stamp duty and legal costs along with lost rental income.
The government disagrees that she is entitled to recover damages from the government.
"The plaintiff has a remedy against the fraudster under section 154 of the Act and must first take action against him or her before she may take action against the defendant," the government said in its submission.
Associate Judge David Mossop has reserved his decision.
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ACT Government ordered to pay compensation after Nigerian scam gets house

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Seven's new food show Zumbo's Just Desserts premiered last night as the most watched entertainment show of the night.
The show has amateur dessert cooks put through their paces by pastry chefs Adriano Zumbo.
It drew a metro audience 1.081 million, beating The Block, which dipped slightly from its debut audience of 1.074 million metro viewers to 961,000 average million viewers.
Channel 10's Survivor slipped to the 14th most-watched show of the night with 734,000 metro viewers, a drop of 50,000 viewers from Sunday's premiere.
Zumbo's Just Desserts and The Block continue tonight
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Zumbo's Just Desserts take the cake in debut ratings over The Block

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<img src="https://counter.theconversation.edu.au/content/64216/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Bill Shorten is continuing to press for a banking royal commission by highlighting rising bank profits and escalating consumer complaints in recent years.
Shorten said the tribunal that some government MPs – including Liberal Warren Entsch and Nationals John Williams – are urging be set up to consider grievances would not solve the problem.
The backbenchers want the tribunal to be a forum to give redress without victims facing expensive legal costs; they say it should also be able to impose fines. The government, under pressure from Shorten’s campaign for a royal commission, has indicated it will consider the proposal.
But Shorten said there was already the Financial Ombudsman Service (FOS), a not-for-profit, non-government organisation for dispute resolution that provides a free service for applicants.
In 2008-09 there were 19,107 new complaints to FOS; by 2014-15 this had risen to 31,895, a 60% increase. Credit card complaints rose by 145%, from 6731 in 2008-09 to 16,458 in 2014-15.
The Commonwealth Bank’s net profit went from almost A$4.8 billion in 2006 to nearly $9.2 billion in 2015. The figures of the other banks were: Westpac, about $3.9 billion in 2006 to nearly $8.3 billion in 2015; ANZ, almost $4.5 billion in 2006 to more than $7.8 billion in 2015; and NAB, from about $3.6 billion in 2008 to about $5.8 billion in 2015.
Shorten said that the tribunal that the backbenchers advocated “simply won’t cut it”. “There is already an Ombudsman in place but the number of people getting ripped off has been going up and up.
“While the banks have been getting richer, the rip-offs and rackets have been getting worse. The Coalition MPs who say they want to stop these rip-offs have a duty to stand up to Mr Turnbull and tell him anything less than a royal commission is just another cop out,” Shorten said.
Meanwhile the government on Monday morning will release its draft legislation to protect the Victorian Country Fire Authority (CFA) and similar volunteer organisations from union power. Malcolm Turnbull promised the legislation after the issue blew up dramatically before the election, with a push from the United Firefighers Union (UFU) through a new enterprise agreement.
Turnbull and Employment Minister Michaelia Cash say in a statement: “As enterprise agreements are governed by federal legislation – the Fair Work Act – we are intervening to amend the act to ensure that these agreements cannot be misused to undermine volunteer emergency services organisations”.
They say the proposed CFA agreement discriminates against volunteers and provides the union with an unwarranted amount of control over volunteer operations.
The legislation “will invalidate terms in enterprise agreements that undermine the capacity of firefighting or state emergency service bodies to properly manage their volunteer operations”.
It will also give volunteer organisations the right to make submissions to Fair Work Commission agreement approval proceedings – a right they presently do not have.
“This long-running debacle has now resulted in the resignation of the Victorian emergency services minister and the CFA CEO as well as the sacking of the CFA board, who refused to capitulate to the militant United Firefighters Union’s demands. We will not stand by and let the discriminatory and offensive terms of this agreement undermine the effective use of the CFA’s volunteer firefighters,” the statement said.
Michelle Grattan is professorial fellow, University of Canberra and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/michelle-grattan-20316" target="_blank">here</a>.
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Shorten says grievance tribunal would not stop bank ‘rip-offs’

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The private residential land developer Satterley has acquired another 68 hectares in Donnybrook, 50 kilometres north of Melbourne CBD for $34 million.
It will be another house and land project for the BRW rich lister Nigel Satterley, following the sale of its project, Riverstone at Plenty River in Doreen, also in Melbourne's north. 
Donnybrook will consist of about 1000 lots with a variety of residential housing products including land, house and land, and townhouses.
It will be available for sale in 2018.  
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"There is still good demand for housing in Melbourne and land is becoming scarce," he said.
The Donnybrook purchase is Satterley's eighth landholding in Melbourne. 
Other residential communities include: Coburg Hill, Coburg; Riverstone at Plenty River, Doreen; True North, Greenvale; Springtime at Mickleham, Mickleham; Arcadia, Officer; Upper Point Cook, Point Cook; and Habitat on Davis Creek, Tarneit. 
 
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Satterley buys more at Donnybrook on Melbourne's outskirts

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Homebuyers in the 55-plus age group looking at community title projects have clear values, preferences and attitudes that largely reflect the lifestyle they desire.
The final report from Grey Matter Research and Consulting in the United States show that boomer buyers value the first impression of a community and feeling welcome.
Amenities are also huge draws, the Inman report noted. So clubhouses, pools and walking trails, plus the essentials of proximity to restaurants, shopping, entertainment.
Proximity to medical services also ranks as an important factor, according to research conducted by Hanley Wood, a real estate media firm, and national homebuilder and developer Taylor Morrison.
The following are favored design elements and features among boomers:
<ul>
<li>Open floor plans</li>
<li>High ceilings</li>
<li>Natural light</li>
<li>Integrated indoor and outdoor space</li>
<li>Sheltered areas</li>
<li>Native plants</li>
<li>Sustainable and energy-efficient technology</li>
<li>Sufficient storage</li>
</ul>
The top three factors that influence the purchase of a home are:
<ul>
<li>Area/location (50.2 percent)</li>
<li>Price/affordability (37.4 percent)</li>
<li>The layout of the home (19 percent)</li>
</ul>
These factors also led the way for buyers building or shopping for a new home:
<ul>
<li>Quality of construction (9 percent)</li>
<li>Safer neighborhood (8.4 percent)</li>
<li>Better floor plans (8.2 percent)</li>
<li>Architecture/overall design (8.1 percent)</li>
</ul>
The top three most important rooms or areas in a home include:
<ul>
<li>Kitchen (82.8 percent)</li>
<li>Master bedroom (59.2 percent)</li>
<li>Great room (36 percent)</li>
</ul>
Baby boomers would prefer a mid-size home rather than a smaller property
The results of these studies will inform the design and development of the entirely customizable <a href="https://www.propertyobserver.com.au/https://form.jotform.com/60818219261152">“NEXTadventure” model home</a>, which is set to debut at the International Builders Show in Orlando, Florida, in January 2017.
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Babyboomers seeking community when they look to downsize a little

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Ivy Grange, one of Kew's most significant landmarks, is back up for sale.
Built in 1864 by architect Charles Vickers and constructed from bluestone, Ivy Grange operated as a successful guest house for nearly 40 years.
Original features include etched and hand-painted windows, marble fireplaces and servants' bells and cellars.
Set on 1665 sqm, the massive 41 bedroom mansion at <a href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-3-Malmsbury-Street-Kew/241685" target="_blank">3 Malmsbury Street</a> also has grand reception rooms, a conservatory room and nursery and servants' quarters. 
A double storey tower with 360 degree views of the city skyline added to the original building in 1877.
Jellis Craig agents Mark Savant and Belinda Anderson have the listing.
It had previously been for sale in 2013, but couldn't find a buyer after 474 days on market.
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Ivy Grange, Kew, the 41 bedroom heritage back for sale

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The ever-popular Barwon Heads on the Bellarine Peninsula recorded the highest median house price in regional Victoria, at $835,000 – significantly higher than the metropolitan Melbourne median of $725,000.
It was typified by a <a href="https://www.realestate.com.au/property-house-vic-barwon+heads-121253138" target="_blank">five bedroom cottage that sold at $835,000</a> (below) earlier this year having been listed at $900,000 last November. It last sold at $585,000 in 2009 and in 1999 at $189,500.
<img src="/images/2016/08/23/Screen%20Shot%202016-08-23%20at%209.41.42%20AM.png" alt="">
<a href="https://www.realestate.com.au/property-house-vic-barwon+heads-122147970" target="_blank">A pretty Barwon Heads weatherboard</a> (below) recently sold having been listed with $820,000 hopes.
<img src="/images/2016/08/23/Screen%20Shot%202016-08-23%20at%209.42.52%20AM.png" alt="">
With a median house price of $780,000, the Ballarat suburb of Lake Wendouree also exceeded the state’s capital.
The suburb has experienced significant price growth of more than 25 per cent over the year, according to the REIV.
High median house prices were also recorded in a number of coastal towns within commuting distance of Melbourne. 
In the 12 months to June 30, Lorne on the Great Ocean Road was also popular with buyers, recording a median house price of $750,000 – more than double the statewide median of $347,000.
Still on the Surf Coast, Anglesea and Torquay also made the list of most expensive towns in regional Victoria, with median house prices of $685,000 and $680,000 respectively. Both locations have experienced double-digit price growth in the past year. 
Nearby Jan Juc was another strong performer with a median house price of $615,000.
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Barwon Heads tops Victoria's priciest regional towns

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

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The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

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Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

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The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

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Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

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Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

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For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

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The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

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Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

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Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

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Jonathan Chancellor

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