The RBA board has noted that housing markets have strengthened further, "with prices rising in all major markets."

It noted housing credit growth has picked up, with strong demand from owner-occupiers, especially first-home buyers. 

It also acknowledged there has also been increased borrowing by investors. 

"Given the environment of rising housing prices and low interest rates, the bank will be monitoring trends in housing borrowing carefully and it is important that lending standards are maintained," the bank governor Dr Philip Lowe advised.

The bank again advised it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. 

"For this to occur, the labour market will need to be tight enough to generate wages growth that is materially higher than it is currently. 

"This is unlikely to be until 2024 at the earliest," Dr Lowe noted.

It added "an important ongoing source of uncertainty (in the economic recovery) is the possibility of significant outbreaks of the virus, although this should diminish as more of the population is vaccinated."

The rate decision came after CoreLogic advised Australia's COVID-19 property boom continued in May with housing prices up  2.2 per cent which puts it at more than 10 per cent since the pandemic hit.

Hobart and Sydney had the strongest price growth in May.

The RBA noted housing credit growth had picked up, with strong demand from owner-occupiers, especially first-home buyers. 

jchancellor-FAypfDUnLy

All major housing markets see price rises: RBA

A development with fluted facade in Elwood by Keystone Property Group has just five of the 15 apartments remaining for sale on completion.

The Ensemble project comes with sculptural, striking vertical aspect with arched ground-level windows to mimic the art deco homes in the area.

KUD Architects sought to evoke the waves of nearby Port Phillip Bay with landscaping by John Patrick Landscape Architect.

Almost half of those sold in the 15-apartment complex were to downsizers.

[smartcode_project:default project_id=3119 project_image_fid=35536]

The apartments range from 110-141sq m, featuring marble surfaces in the kitchens and bathrooms, and oak floors in the living areas.

Outdoor spaces span from 12sq m up to 118sq m for the courtyard garden ground-floor residences.

There is a landscaped rooftop barbecue area at the Tennyson St location, a short walk from a popular shopping village and the beach.

The remaining apartments cost from $1.495 million to $2,595,000 through Michael Paproth at The Agency.

[smartcode_project:default project_id=3119 project_image_fid=35534]

Elwood&#39;s apartment prices sit at a $675,000 median, according to realestate.com.au, with units typically rented for $410 pw reflecting a rental yield of 3.2%.

Keystone Property Group is a Melbourne based developer formed in 2006 by Ray Evans and Luke Daley.&nbsp;

Keystone has developed numerous properties in inner city regions such as Footscray, Brunswick and Prahran, with a focus on boutique properties in high growth areas.

[smartcode_project_cta: project_id=3119]

KUD Architects sought to evoke the waves of nearby Port Phillip Bay with landscaping by John Patrick Landscape Architect

Five apartments remain for sale in Keystone's Ensemble, Elwood development

A 27nd floor apartment in the 2017 Brisbane City complex Abian Residences has been sold for $3.1 million.

The sale by Ray White agent James McKinlay was the three bedroom, two bathroom at 3202/140 Alice Street.

It had previously sold off the plan in 2014 by Sunland at $2,705,000.

It came with floor to ceiling glass showcasing views across the Botanic Gardens and the Brisbane River and beyond to the Kangaroo Point Cliffs.

There was a vast living area is positioned at the centre of the apartment, plus a combined lounge and dining space, sleek kitchen and two separate balconies.

<a href="/developments/brisbane-qld?source_news_article_id=101203&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_brisbane_3.jpg" width="1200" /></a>

Occupying the east wing of the residence, the master bedroom had a luxe ensuite with underfloor heating and electric bidet.&nbsp;

The other two bedrooms are positioned on the west side, sharing river views.

Abian&#39;s facilities including a dual lane 25m lap pool and spa, fully equipped state-of-the-art Technogym, plunge pool, Hammam thermal stone room, sauna, steam room and massage treatment rooms.

Sunland secured its sellout in late 2015 in the 41-storey Abian tower development, located at the entrance to Brisbane&rsquo;s historic Botanic Gardens.

Abian, which was Brisbane&rsquo;s first luxury tower project in more than five years, comprises 150 luxury dwellings with an end value of $240 million.

There is a fresh listing of a sub penthouse - 3-bedroom + office - through Veronica Royal featuring 23-metre glass frontage at 2703.

It first traded at $2.69 million off the plan in 2014.

Ray White secured the $3.1 million Abian Residences trophy apartment sale 

$3.1 million Abian Residences, Brisbane City Sunland-built trophy apartment sale

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Nine Entertainment's digital and print real estate media business Domain Holdings is set acquire the Commercialview.com.au website.

For starters Domain will spend $2 million in cash to secure the commercial property digital listings platform, which had most of its footprint in Melbourne and Sydney.

CommercialVIEW.com.au is a stand-alone commercial real estate advertising portal that is industry owned, directed by Ben Cooper, Stephen Gorman, Malcolm Gunning and its CEO Daniel Bignold. Its issued capital is given as $3.8 million, with nine million ordinary shares on issue and 310,000 redeemable preference shares.

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During the past year the board exercised its power to change the option terms with the exercise price of the options reduced from $0.50 to $0.00.
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It was established in 2012 under the stewardship of Petra Sprekos and Enzo Raimondo of the REIV.

In 2016 Bignold made a rare public comment on the state of the website.

Bignold said the dominant players in the market had been able to press prices higher, putting pressure on commercial property agents. 

"We have a price point that’s very fair and reasonable, and is less than our competitors," he noted. 

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/17/CommView.jpg">

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Domain Holdings Australia Limited announced its commercial real estate business, Commercial Real Estate entered into a three stage agreement with shareholders of Commercialview.com.au Limited to acquire 100% of the issued share capital in CommercialView.

The acquisition will occur through a subsidiary of Domain, Commercial Real Estate Media Pty Limited (“CREM”), which is currently approximately 70% owned by Domain and 30% owned by members of the commercial real estate industry.

The consideration for the proposed transaction is anywhere between $4.2 million and $17.2 million, contingent on targets relating to the future financial performance of the CREM and CommercialView businesses. 

The on-target consideration is $10.2 million, which is equivalent to four times the projected increase in EBITDA from the transaction for calendar year 2020, including synergies.

The maximum consideration for the acquisition is $17.2 million of which a maximum of $2 million is payable in cash. The remainder is payable in newly issued shares in CREM.

Domain Group CEO Jason Pellegrino said there had been unanimous support for the transaction from CommercialView shareholders.

The commercial property website recently reported another loss in its annual results which gave its revenues as $1.6 million.

It was segmented into $440,000 subscription revenue, $150,000 banner advertising and over $1 million in depth revenue.

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The 2018 financial year loss of the company after providing for income tax amounted to $8,500 compared to its $428,000 loss in the prior year.

Its directors, who noted it was a high demand/low supply commercial property market, slashed marketing expenses from $386,000 to $255,000. 

"For a portal, this is a difficult market to extract revenue as not only stock levels are low, but when stock is listed it generally move fast and doesn’t require large ongoing advertising budgets. 

"Total new listings that hit the CVIEW portal in FY18 compared to FY17 were down 21 percent and listings for sale were down 29 percent yoy. 

"This creates a large void for listing upgrade opportunities particularly investment stock which generally attract a larger advertising budget."

The revenue focus for the year was seeking upgrade opportunities for remaining sales stock and also to leverage the larger proportion of leasing stock in the market.

The business has had a "clear strategy" of tightening up on expenses without negatively impacting the operations, which resulted in a 22 percent reduction in expenses and $150,000 positive full year EBITDA and an $88,000 increase in cash balances for the year. Its assets included $474,000 in cash and $193,000 in trade receivables.

Its deferred tax assets sit at $700,000 plus.
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Completion of the proposed transaction is targeted to occur on 21 December 2018.

The consideration is payable in three tranches, partially contingent on targets relating to the future financial performance of the CREM and CommercialView businesses, as follows:

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	a payment of $4.2 million to be paid at completion as a combination of cash and CREM shares, amounting to approximately a 3.7% equity interest in CREM;
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	a second payment payable in early 2020, in the range of $0 to $5 million to be paid as a combination of cash and CREM shares; and
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	a third payment in early 2021, in the range of $0 to approximately $8 million payable in CREM shares.
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Commercialview.com.au sold by estate agents to Domain

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<img src="https://counter.theconversation.edu.au/content/73850/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The privatisation of urban infrastructure in Australia is an ironic story.
The vehicles of urban infrastructure – the utilities and the state-owned enterprises – were so central to the life of cities that they became perfect entities for private sell-off.
We now live with the consequences of the sell-off.
The utilities flourished in Australia as a nation-building exercise following the second world war. The Bretton Woods agreement entrenched Keynesian fiscal behaviours across the Western world. 
The utilities thrived on the willingness of governments to raise capital for public works. They were also central to the development of state capacity and the assembly of a career-based professional public service. As part of the social compact, the public accepted reasonable user pricing for the availability of water, energy, public transport and telecommunications services.
Hence, the utilities and the state-owned enterprises led the roll-out of urban infrastructure in the second half of the 20th century. This roll-out shaped the nature of Australian urban life, its format and flows.
But then fiscal crisis of the state descended in the 1970s and 1980s. The sell-off of public assets was seen worldwide as a solution to state indebtedness. Arguments that private enterprise could deliver infrastructure services more efficiently added impetus. 
<h2>A wholesale transformation</h2>
Few governments resisted the sell-off urge. Australian governments, state and federal, participated in the sell-off, though in a stuttering manner. Through time, however, the change has been substantial.
Abbott and Cohen calculate that the output of state-owned enterprises in Australia in 1989-90 accounted for 7 percent of GDP, 9 percent of total employment, and 14 percent of gross fixed capital expenditure. 
By 2011-12, the output of state-owned enterprises had fallen to 1.3 percent of GDP. Their gross fixed capital expenditure contributed only 1.8 percent of the nation’s total. The authors estimate that proceeds from privatisations in Australia since 1987 total around A$194 billion (in constant year 2000 dollars).
The sell-off commercialised and privatised a raft of assets: electricity generation and transmission, gas distribution, airports, ports and telecommunication. New assets went straight to private hands: motorways, public transport, renewable energy generation, and freight handling.
The shedding of public responsibility for infrastructure meant public investment in Australia as a share of GDP fell from more than 5 percent in the mid-1980s to well below 3 percent by the end of the 1990s.
<h2>What’s in it for investors?</h2>
There is much to understand about the sell-off. Here I focus only on why private investors are willing to pay extraordinary prices to acquire urban infrastructure assets.
The attraction of investing in an urban infrastructure asset comes from the infrastructure services being embedded in the daily flows of people, water, energy and information throughout a city. The flows of a city are remarkably ordered in terms of volume, direction and timing. 
How a city operates is dependent on the co-existence of decisions by infrastructure operators and users. The operators decide how and when services will be available. Households and firms decide what they will be doing across a 24-hour day and therefore how and when they will use the infrastructure services on offer.
Thus, the efficiency of infrastructure provision comes from the predictability of the flows of a city. These in turn come from a historical patterning and sequencing of behaviours by householders and firms as they read off and conform to each other’s movements.
An example is the relatively sympathetic structuring and sequencing of work hours and school hours. This ensures that public transport facilities are utilised more efficiently in peak hours, while the hours that parents and children spend together are made more convenient.
The embeddedness of infrastructure into city life means that revenue streams from user fees for infrastructure services are highly predictable and stable. And because transport, water and energy supply is usually monopolised, the householder has little choice but to continue as a consumer of an infrastructure service.
The books of a utility or state-owned enterprise, then, represent a discrete set of households well trained to pay their monthly bills. This is precisely the type of revenue stream that pension, insurance and sovereign wealth funds seek when faced with the peculiar problem of having surplus cash to lock away for at least the next two decades.
<h2>What did we lose in the sell-off?</h2>
Perhaps it was clever to have solved a government debt problem in Australia back in the day through a sell-off of assets to a new class of long-term investor. But as a consequence we have lost other things. 
Infrastructure as a planning tool to shape our cities is one. Revenue streams to subsidise needy customers or supply to remote locations is another.
And, critically, we have lost the opportunity for the state to revamp energy, water and transport systems to allow for innovative supply and demand formats – such as distributed electricity supply networks – that are more appropriate to a climate-threatened planet.
Long-term privatisation contracts, most of them closed to scrutiny, lock urban infrastructure provision into 20th-century formats.
The difficult task now will be their unlocking.
Phillip O'Neill is director, Centre for Western Sydney, Western Sydney University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/phillip-oneill-125643" target="_blank">here</a>.
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Stumbling into the future: living with the legacy of the great infrastructure sell-off

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Reduced migration will likely make apartments cheaper, according to BIS Oxford Economics chief economist Dr Sarah Hunter.

“In terms of long-term sustainability, there’s still demand shock around [reduced] migration, which will likely make apartments cheaper,” Dr Hunter said.

Overall if local coronavirus cases remained under control and unemployment remained stable, Dr Hunter forecasts regional areas and detached houses in smaller capitals should continue to streak ahead.

She said there was residual demand from buyers capitalising on buyer’s grants and stamp duty concessions.

“Falling interest rates improved affordability which helped demand, but supply hasn’t responded all that much yet as the volume of transactions – although they are turning – have not risen anywhere near as much,” Dr Hunter told The New Daily earlier this month.

In July Hunter anticipated Sydney's property prices would fall for 18 months — and "maybe even beyond that" — because of coronavirus.

While she did not see a sharp drop in prices, she envisaged demand for rental properties dropping due to the lack of international students, tourists and overseas workers living in Sydney. 

Ms Hunter suggested that may result in property owners withdrawing homes from the rental market and selling them instead. 

"We might see some landlords look to sell their properties if they can't see a quick resolution to the situation, which does seem likely in the next 12 months,” she told the ABC.

“It does look very challenging."
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“In terms of long-term sustainability, there’s still demand shock around [reduced] migration, which will likely make apartments cheaper."


Reduced migration to make apartments cheaper: BIS Oxford Economics

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The absence of first-home buyers in NSW is becoming a major political and housing issue.
But it presents a bonus for investors, given the likely lack of competition in securing some properties at the moment.
Much of the finger pointing has been at the NSW state government following the axing of its first-home owner concessions for the purchase of existing homes. 
The Daily Telegraph has estimated there might be 40,000 fewer buyers this year after Treasurer Mike Baird's tightening of eligibility for the first-home owner grants.
The decison is estimated to boost government coffers by $1 billion a year – more than twice the figure originally budgeted.
The ABS statistics for December last year revealed yesterday just 988 NSW first home owner loans compared to about 4200 in December 2011, when the full array of government grants were available.
But its not just NSW where first- home buyers are pulling back.
The ABS first-time buyer numbers showed nationally they accounted for 14.9% all loans taken out in December – the smallest proportion since 2004 and well below the recent 20% average.
The state govenments that have initiated the shift to new home subsidy rather than continue with the established home subsidy always suggested it would take a while for first-home buyers to adjust to the new incentives.
But while Westpac had expected first-home buyer (FHB) loans to remain soft in December due to the demand shifts associated with changes in state government incentives/stamp duty arrangements, it found actual state mix puzzling.
"We had expected December to show particular weakness in Victoria where stamp duty concessions for FHBs were set to increase substantially in January.
"Meanwhile NSW was expected to stabilise as the unwind from a previous pull forward in demand ended," Westpac notes.
"Instead FHB approvals posted another steep fall in NSW to extremely low levels (lowest since early 1990s), with a sharp fall in Queensland as well but a more modest decline in Victoria.
"WA is the only state showing consistent gains in FHB approvals," Westpac notes.
The decline in first-home buyer finance approvals was mostly offset by an estimated 5% rise in the number of loans to 'upgraders',  with solid gains coming across the big eastern states in particular.
Investor activity softened, with the value of investor approvals falling 2.4% in December after strong gains in previous months.
December’s housing finance figures showed some encouraging signs for the residential building industry, but do not herald a recovery, according to Peter Jones, Master Builders Australia’s chief economist, who added that while there were positives in the figures for builders, the industry was not yet out of the woods.
“Looked at in isolation, today’s figure suggests interest rate cuts from the Reserve Bank may be beginning to gain traction, but any broad based recovery appears a way off.
“In the broader real estate market, the decline in first home buyers that continued in December is a concern given the various incentives across several states to entice them into the market.
“With consumers still reluctant to commit to large investments, the Reserve Bank should give urgent consideration to a rate cut at its March board meeting,” Jones said.
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First-home buyer absence a blessing for investors

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The executive chairman of Aussie, John Symond expects investors will continue to dominate property purchases into 2014.
He sees this as "a long term fundamental shift" in the property market.
It comes as first home buyers typically failed to compete against investors in what Symond called the many hot property pockets of many capital cities during the spring selling season.
First home buyers are absenting themselves from the market at a time when the conditions are actually rather favourable for them given interest rates are at historic 50 year lows and mortgage repayments as a proportion of average disposable incomes are lower than for much of the last two decades. John Symond reckons the current potential first home buyers are preferring to invest in shares and rent in apartments nearer their workplaces or CBDs.
Symond sees part of the solution for the Federal government to look at creating tax incentives for first home buyers to save for a deposit.
There is the existing first home buyer saving accounts scheme introduced by Prime Minister Kevin Rudd, which after plenty of patience offers a terrific honey pot, but just doesn't seem to have gathered much traction.
Yes the required home buying deposit has risen considerably as prices rose faster than incomes - from around 2.5 times the average disposable household income in 1985 to around 4.5 times now - but maybe there are other life priorities that has triggered this apparent baulking at the requisite deposit hurdle.
It's a little early to judge an entire generation on one overly-zealous selling season, but home ownership rates have been in decline since the mid-1990s with the most substantive drop being among households in the 25-44 age bracket.
Any such demographic shift will be a fillip to investors who not doubt have some anxiety over issues of supply and demand especially in the apartment rental market. they'd be watching the recent rather contradictory rental vacancy statistics with for instance SQM having Sydney rental vacancies increasing while the REINSW had them reducing.
It's also a little exaggerated to suggest as Robert Gottliebsen, the Business Spectator columnist did, that the home ownership dream was fading, at least in the inner city,  "increasingly replaced with a tenant relationship with Chinese landlords." Lastly John Symond warns that first home buyers, who now make up about 13% of all loans written, should avoid the temptation of going after very low deposit loans as they can lead to financial stress.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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A first home buyer generation with other priorities? 

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Just $200 million was given in first home buyer grants across NSW last year.
<a target="_blank" href="https://www.osr.nsw.gov.au/sites/default/files/file_manager/fhog_apps_received_3.pdf">It was the lowest year on record</a>. The aim of attracting first home buyers into new homes - not established ones to boost construction - has allowed the state government to get the good idea headlines, but then saved millions in the budget bottom line.
Click to enlarge
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Source: NSW Office of State Revenue statistics
 
The list is an interesting mix of old and new, of greenfields and increased urban density.
<a target="_blank" href="/news">Parramatta</a> buyers topped the list of recipients with around $5.4 million in grants in the 2150 postcode. Parramatta, one of Sydney's oldest locations is undergoing a transformation with major residential projects including <a target="_blank" href="https://vbycrown.com.au">V by Crown</a> headlining its renaissance. 
The $300 million “vertical village” was officially launched in 2012, with construction of the 27-storey tower – set to be Parramatta’s tallest building – well underway. V by Crown recently reached $150 million in sales, with more than 270 apartments sold up since the project was launched in 2012.
<a target="_blank" href="/news">Spring Farm</a>, which sits second on the list of recipient postcodes at 2570, is one of the newer suburbs on the south-western rural/urban precinct. 
Spring Farm is surrounded by <a target="_blank" href="/news">Elderslie</a> to the north, <a target="_blank" href="/news">Narellan Vale</a> to the northeast, <a target="_blank" href="/news">Mount Annan</a> to the east and <a target="_blank" href="/news">South Camden</a> in the south. Until recently it principal land use has been the poultry production by the Tegal family and Neville Clinton, along with extensive orchards and vineyards along the floodplain of the Nepean River. 
The first urban development in Spring Farm was in the Ettlesdale Road area in the 1960s. In 2006 the population of the Spring Farm was 287 predominantly made up of young families with 44% of the population under 25 years of age.  
The area is planned to have around 3,900 housing lots with three separate developers, the Cornish Group with 1100 lots, Landcom 1,400 lots and Mirvac, 450 lots.
I noticed Mirvac recently sold a seven hectare holding to the Starhill Property Group for $7 million last November. In 2008 at Mirvac's Ayre three-bedroom, two-bathroom townhouses were for sale starting from $335,000. House-and-land packages in Mirvac's Ayre started from about $357,000 in 2012. 
Lots of land have been selling at around $200,000 plus since the first Spring Farm estate was opened in 2007 off Richardson Road.
<a target="_blank" href="/news">Arncliffe</a> and <a target="_blank" href="/news">Waterloo</a> were the most established suburbs in the top 20 postcode recipient list.
<a target="_blank" href="/news">Woollongong</a>, with $2.1 million in grants, rounded out the list.
The top 20 postcodes securing around $71 million of the total funding which is a mix of the grant and stamp duty concessions.
There were around 9,500 recipients who secured the mix of grants.
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Source: NSW Office of State Revenue statistics
news@propertyobserver.com.au
 
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Just $200 million in NSW first home grants last year

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Three Charterhill entities owe creditors a combined $11.5 million, according to the latest presentation of accounts.
The Adelaide-based group offered a range of services including SMSF advice, mortgage broking, real estate marketing, property management along with contract negotiation.
Charterhill Group entered insolvency in January, with many clients now caught in the wreckage of chartered accountant George Nowak’s empire.
Some related Charterhill entities are among the unsecured creditors, with about 110 clients having been caught up in the collapse having paid deposits for property purchases, previous reports suggested.
The three of the Charterhill companies have collected just the $25,000 in payments, according to their six-month presentation of accounts, The Advisor said.
The companies are under the control of the receiver, Michael Basedow of Pitcher Partners or under the control of the liquidator, Andrew Heard of Heard Phillips. 
The Charterhill Group operated as a “one-stop shop”, providing advice to clients on the establishment of self-managed superannuation funds, rollover of existing super funds into an SMSF, sourcing and purchase of investment properties, property management, insurance and taxation.
It companies included, Nova Real Estate — in administration; Lending Solutions International — in liquidation; EJ Property Developments (EJPD) (formerly known as Charterhill Group and Bentley Capital) — in receivership and Financial Wellness (trading as EZ Residential) — in receivership.
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Charterhill owes $11.5 million to creditors

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

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The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Jonathan Chancellor

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