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A Romanesque Revival former aged care facility in Kew has been listed for sale with a price guide of $4 million-plus.
Located on the corner of Fellows and Barry Street, Fairholme, also known as Hallel was built in 1889 for local solicitor Edward Smart by Reed, Henderson and Smart architects.
It was added to in circa 1900 by C Gordon McCrae and features a wrap around Edwardian verandah, ornate ceilings, restored cornices and timber paneling.
The property was most recently known as the Gracecourt Hostel aged care facility, featuring 27 rooms and 24 ensuites across 2,185 square metres.
Classified by the National Trust, Fairholme offers the opportunity to be restored into a family home or to continue as an aged care facility, subject to council approval.
Listing agent Robert Fletcher says there has been a lot of interest, particularly from buyers wanting to renovate and extend the home and some wanting to utilise some of the existing accommodation.
Fairholme is listed through <a target="_blank" href="https://fletchers.net.au/3466698/20-Fellows-Street-Kew">Robert Fletcher and Nick Fletcher of Fletchers Realty</a>, with expression of interest closing June 19.
The median house price in <a target="_blank" href="/news">Kew</a> is $1,360,000 according to RP Data.
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Gracecourt Hostel, aka Fairholme and Hallel, in Kew trophy home in the making listing

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A five-bedroom property boasting a 42.5-metre ocean frontage is on the market for $7 million-plus.
Located on Gordon Avenue in Coogee, the vast 2,304-square-block hosts a two-level home with soaring cathedral ceilings.
Featuring three bathrooms, the interiors of the main living area opens up to a large ocean front entertaining verandah with views over Gordon’s Bay.
The property also features a tennis court and a separate self-contained guest accommodation.
The property offers the opportunity to subdivide the land or modify the existing residence.
It last sold in December 2001 for $4,258,000.
The median house price in <a target="_blank" href="/news">Coogee</a> is $1,612,500 according to RP Data.
Bethwyn Richards and James Dack of <a target="_blank" href="https://www.mcgrath.com.au/buy/house-coogee-nsw-2034/166113/?searchID=29144610">McGrath Edgecliff</a> has listed the property for a June 22 auction.
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Coogee clifftop trophy home listing

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The Perth housing market is predicted to record a modest house price rise for 2013 and 2014, according to the latest SQM Research report.
In the SQM’s September 2012 Boom and Bust report, Perth house prices were predicted to rise between 6% to 13% for 2013 – this has now been revised to 4% to 7%.
SQM managing director and property analyst Louis Christopher says falling interest rates are assisting the market, however the mining downturn is having an impact on the rental market.
Christopher says the market is likely to slow down, due to rising rental vacancies and cautious investors in the second half of the year, but prices are unlikely to fall.
“I stress that the chances of falling prices in Perth this year or next are very remote as I strongly believe the mining downturn will be buffered by a falling Australian dollar,” says Christopher.
The median house price in Perth is currently $704,000, according to <a href="The%20Perth%20housing%20market%20is%20predicted%20to%20record%20a%20modest%20house%20price%20rise%20for%202013%20and%202014,%20according%20to%20the%20latest%20SQM%20Research%20report.%20%20In%20SQM%E2%80%99s%20September%202012%20Boom%20and%20Bust%20report,%20Perth%20house%20prices%20were%20predicted%20to%20rise%20between%206%%20to%2013%%20for%202013%20%E2%80%93%20this%20has%20now%20been%20revised%20to%204%%20to%207%.%20%20SQM%20managing%20director%20and%20property%20analyst%20Louis%20Christopher%20says%20falling%20interest%20rates%20are%20assisting%20the%20market,%20however%20the%20mining%20downturn%20is%20having%20an%20impact%20upon%20the%20rental%20market.%20%20Christopher%20says%20the%20market%20is%20likely%20to%20slow%20down,%20due%20to%20the%20rising%20rental%20vacancies%20and%20cautious%20investors%20in%20the%20second%20half%20of%20the%20year,%20but%20prices%20are%20unlikely%20to%20fall.%20%20%E2%80%9CI%20stress%20that%20the%20chances%20of%20falling%20prices%20in%20Perth%20this%20year%20or%20next%20are%20very%20remote%20as%20I%20strongly%20believe%20the%20mining%20downturn%20will%20be%20buffered%20by%20a%20falling%20Australian%20dollar,%E2%80%9D%20says%20Christopher.%20%20The%20median%20house%20price%20in%20Perth%20is%20currently%20%24704,000,%20according%20to%20RP%20Data.%20%20The%20Perth%20Housing%20Boom%20and%20Bust%20Report%20will%20be%20available%20via%20the%20SQM%20Research%20website%20for%20%2459.95." target="_blank">RP Data. </a>
The Perth Housing Boom and Bust Report will be available via the <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research website</a> for $59.95.
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SQM forecasts modest Perth house price rise between 4% to 7%

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Sales activity of units and townhouses in Queensland have increased over the past year, with Cairns, Gold Coast and the Sunshine Coast the strongest performers, according to the latest preliminary report by REIQ.
The number of unit sales in the March quarter increased by 2% when compared to the same period last year.
“The popularity of units and townhouses in our major tourist precincts has returned,” says REIQ chief executive officer Anton Kardash.
The sale of units and townhouses in Cairns increased by 54.5% when compared to the March quarter last year, with the strongest activity seen in the sub $250,000 price bracket.
The Sunshine Coast increased by 22.6% sales with growth in activity in the $350,000 to $500,000 price bracket.
The Gold Coast sales activity increased by 19.4% compared to the March quarter last year, with an increase in recorded sales in the $250,000 to $350,000 price range, as well as in the upper-end market.
“These areas have experienced the highs and lows of the GFC and the strength of the Aussie dollar, more than most over the past four years so it is heartening to see them stepping back into light.
“Many of these areas have become more affordable, even those with unique seaside locations, so this is no doubt spurring buyers into action before the tide has turned to the positive completely.”
Sales within the prestige market on the Gold Coast have increased nearly 30% when compared to the same period last year.
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Increased sales activity as unit and townhouse demand strengthens in Queensland: REIQ

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Channel Seven’s House Rules has once again trumped Channel Nine’s The Block Sky High Unlocked in the 8pm timeslot and is stealthfully catching up to The Block Sky High, which sat in third place for Thursday night's ratings.
The Block Sky High in its 7pm timeslot was the third most watched show around the nation – behind Nine News and Seven News – recording a rating of 1.16 million.
House Rules recorded a rating of 1.066 million last night - and fourth place - easily knocking off The Block Sky High Unlocked with ratings of 899,000, according to OzTAM.
It is the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/friday-may-31-news-house-rules-hammers-the-block-sky-high-unlocked-for-a-second-time-houserules-skyhigh/2013053061805?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">third consecutive week</a> that House Rules has fared better than The Block Sky High Unlocked when both shows have been on air at once.
Melbourne recorded the highest metro capital ratings with 390,000 for The Block Sky High and 292,000 for House Rules.
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The gap narrows between The Block Sky High and House Rules

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Vendors have been warned that nobody will love their home as much as they do, as advice from prominent New South Wales Central Coast agent Mat Steinwede within his 10 tips to sell your home right.
“The biggest mistake owners make in pricing their home is they think their property is better than everyone else’s,” says Steinwede.
Steinwede says buyers start logically and finish emotionally and vendors must first logically attract the market.
Vendors need to look at what similar properties to theirs are selling for and how they are performing in the market.
Another important tip Steinwede offers is the 30-day rule that applies to every property in real estate.
Steinwede says the best buyers will come along in the first 30 days and if you fail to attract any offers in this period, your price is too high.
“If everything is lined up right from day one you should have interest and offers in the very early stages.
“If you aren't getting interest in the those early stages, adjust early and you'll be on your way.”
Steinwede says the 30 day rule is the most important rule for any owner to understand before they sell a home.
“When selling a home it has nothing to do with how long you have been on the market, it has more to do with how long a buyer has been shopping in the market.
“The longer a buyer has been looking for the right home, the more heightened their emotional readiness becomes and usually the stronger their price will be because they want to get in before the rest of the market. 
"That’s why the old saying rings true, your first buyers are always the best buyers," says Steinwede.
As well as an estate agent, Steinwede is also a property industry motivation circuit lecturer.
Steinwede’s complete 10 tips for owners thinking of selling their home was published on his <a href="https://www.propertyobserver.com.au/https://www.facebook.com/matsteinwede/posts/534111476619425" target="_blank">Facebook page</a> and can be found below.
1. Price Your Home Right.
Take your time to understand the market before you speak to agents. Remember price is everything. Too high no one will buy. Look at the facts that are happening in the market today directly around you and then consider market demand (is your price bracket selling quick). Biggest mistake owners make in pricing their home is they think their property is better than everyone else's and expect the market to love it as much as they do. Buyers start logically and finish emotionally. The first thing you have to do to logically attract the market is make sure the criteria of your home matches what other similar properties are selling for. Then buyers will come.
2. Have A Strategy For Marketing Your Home.
These days many owners just want to use the internet to sell their home. This is not a strategy, this is just one part of what's available. After selling more than 1,000 homes I have seen buyers come from all different places and if you want the best buyer and the best price you must cover all your bases and make sure you have a complete marketing strategy and full market energy around your home.
Market Energy=Better Price (every time). You only get one chance to sell your property right so have every marketing channel working for you from day one. Internet, advertising, neighbourhood campaign, database plan, signage, best photography, editorial, video, floor plan, open houses, hot buyer preview and the absolute best agent working for you.
3. Present your home like you don't live there.
Well, that's a bit of an exaggeration. Looking like you live in your home is fine. Just get some expert advice on presenting your home. Most of the time owners aren't stylist's so it makes sense to source the best advice on this one. Buyers are looking for a home that they instantly connect with and feel like they want to live there and this connection comes from style and creating a WOW. Often owners think that having a clean house is presenting it for sale when this is only part of it. Styling is about maximising the space for appeal and flow. How a home flows is just as important as how it looks. You only get one chance to make a first impression so speak to the people that specialise in first impressions. Most agents will be able to point you in the right direction for good stylists.
4. They really are different.
The right agent can make a massive difference. Sometimes owners pick an agent because they like them which is fine but the question I would be asking myself if I was an owner is what difference does this agent bring to my sale. See the most important function of an agent is their service levels and their skill set. Can they help you protect your price? That's the single most important question you should be asking. Selecting the wrong agent can be very expensive. Before you engage an agent ask them to demonstrate how they will best protect your price and this will flush out the ones that know what they are doing. Then you will have a short list of agents to choose from that offer the best skill set.
Remember this one thing when selecting an agent... You can only base your selling decision on what they tell you. So the quality of information that your agent is able to extract will make all the difference. That's why skill set is important.
5. Be real.
Not everyone is going to love your home, in fact probably lots of buyers won't like your home at all. Don't get discouraged when you get feedback about your home, see it for what it is, they just don't like it. The most important feedback is what the market place thinks your home is worth. This way you can adjust if needed early if the feedback isn't in alignment with your expectation. Here is a checklist of the people to listen to with price feedback.
Neighbours and Friends: Don't listen to them about what they think your home is worth, they are always too high.
Buyers that are ready to buy, have inspected your property but don't like it: These buyers are usually quite educated and fairly accurate with price feedback because they see it for what it is and have no emotional connection to your home.
Buyers who are interested in your home: They will usually give slightly lower price feedback initially because they are interested.
This is an easy way to work out who is giving the feedback and why.
6. Area Specialist.
Use an agent that knows the area. Just because you might know someone in Real Estate but they work in another area don't use them to sell your home. That's ridiculous. They will have no idea how to build value in your home because they don't know anything about the recent properties that have sold (they might know the price but they won't know what the home offered or the story behind the sale) Use an agent who specialises in the area, works in the area and loves the area. It will be much easier.
7. I'm Thinking About Using My Friend.
This is a delicate one. If your friend (agent) works in the local area it's easy to list your home with them and they may do a good job but I have found this to be awkward sometimes. Selling your home is a business transaction and doing business with friends isn't easy if you have to have those hard discussions. Managing property in a changing market can be a testing time and it can strain a relationship if you don't see eye to eye with your friend during the process. So my advice is don't list with your friend and maintain the relationship.... It's easier.
8. The 30 Day Rule.
There is a rule in Real estate that applies to every property. Your best buyers will come along in the first 30 days. The reason for this is you have access to the greatest number of qualified buyers when you first launch your home into the market place and that excitement period never comes back.
There is a trap that many owners fall into when selling and that is rejecting a buyer in the early stages or an offer in the early stages because in there mind, they have only been on the market for a short time (a few days or a couple of weeks) and they always says “it’s only early days".
Usually why you don't get offers during this period is your price is too high and buyers are walking away. This leads me to my next point.
9. Adjust Early.
One of the biggest mistakes is owners say it's early days.... Meaning if the market isn't responding and you are getting no interest or offers, owners feel it's too early to adjust. This can cost you dearly. Market momentum is everything and if in the first 2 weeks the market feedback is lower than where your price point is, that is a strong indication that your price is too high. Often owners will say "we haven't had any offers" so they can gauge whether to lower their price or not.... Listen closely...... You aren't getting any offers because the buyers feel your house is too dear and they are voting with their feet and walking away. Work closely with your agent in these early stages and feel the rhythm of the market and you will be able to read what is going on. If everything is lined up right from day one you should have interest and offers in the very early stages. If you aren't getting interest in the those early stages, adjust early and you'll be on your way!!
10. Just Relax.
All you can do is your best and make sure you have done everything you possibly can to position your home right, market your home right and select the best agent. Once you have ticked all the boxes sit back and relax and work closely with your agent as a partnership. Allow the agent to do their job and be open to understanding the market and everything will work out just fine.
"Not all homes sell within 30 days but if these things are covered chances are you will," Steinwede told Property Observer.
Steinwede specialises in <a href="/news">Macmaster Beach</a>, which has an average of 148 days on the market and <a href="/news">Wamberal</a>, with an average of 85 days on the market.
In response to this, Steinwede says his own average days on market is 40.
You can keep up to date with Steinwede via his <a href="https://www.propertyobserver.com.au/https://twitter.com/matsteinwede/statuses/297812793871196160" target="_blank">Twitter page</a>.</body></html>

Mat Steinwede's 10 tips to help you sell your home faster

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The latest development offering new terrace-style living in inner Sydney city happens to be called The Terraces, a 34-terrace development offering torrens title homes at St Peters.
Located on Grove Street, The Terraces are 80% pre-sold.
The Environa Studio-designed development offers three-and four-bedroom double-storey homes without strata fees.
Three-bedroom terraces are 148 square metres in size and start from $895,000.
Four-bedroom terraces are 170 square metres in size and start from $995,000.
The cheapest home at $875,000 was the display home, which is currently under contract.
Each home comes with a courtyard and landscaped garden.
Bill Kalimnios of McGrath says the main buying demographic have been young professionals.
Domain Holdings, a syndicate headed by Albert Bonansea, bought the 7,339-square-metre former pioneer concrete site in 2004 for $5.7 million.
The first marketing stage began in early 2011 through Liberty Property Services, with prices starting from $825,000.
However the first building company appointed to the development, <a href="https://www.propertyobserver.com.au/industry-news/liquidators-of-collapsed-cosmopolitan-construction-meet-with-home-owners/2011111752421" target="_blank">Cosmopolitan Constructions</a>, went into liquidation, causing some buyers with contracts to withdraw due a lengthier construction timetable.
<a href="https://the-terraces.com.au/" target="_blank">The Terraces</a> are now listed through Steven Chen and Elizabeth Brunton from McGrath with a December 2013 completion date.
The median house price in <a href="/news">St Peters</a> is $684,000, according to RP Data.
Mirvac's Harold Park Glebe development has had strong terrace sales too. Prices of <a href="https://www.propertyobserver.com.au/new-south-wales/no-false-start-as-mirvac-secures-eden-harold-park-terrace-sellout/2012111257768" target="_blank">around $1.895 million have been paid for the Harold Park four-bedroom terraces</a>.
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St Peters development The Terraces secures 80% in pre-sales

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Artist and author of Jeremyville, Jeremy Andrew, has listed his two-level penthouse in The Rex building at Potts Point for $1.4 million plus. 
Located on Macleay Street, the former Rex hotel building was redeveloped in 2005 by BKH architects.
The sky home features two bedrooms, two bathrooms and a galley kitchen with Miele appliances.
The property boasts four metre high ceilings, a mature-garden terrace with harbour views and exclusive use of the adjacent rooftop area of approximately 70 square metres.
Listing agent Brad Caldwell-Eyles says the exclusive roof area has been of real interest to potential buyers.
“No approvals for its use exist as yet; however we imagine that the buyer will seek to install decking and glass balustrades to make the area an amazing roof garden straight from the current residence.
“It will have awesome views of the city and Elizabeth Bay,” says Caldwell-Eyles.
The penthouse also has use of the building amenities including a pool, sauna and gym.
The Rex is a combined residential and retail complex of 165 apartments over nine levels.
Andrew purchased the property in 2005 for $945,000.
Andrew’s first job was a comic artist for the Sydney Morning Herald, and has since worked with the likes of MTV, Adidas, Diesel, Converse and Reed Space Gallery in New York.
Andrew splits his time between his studio in Bondi Beach Sydney and in Soho New York where his creative and life partner, Megan Mair plan to spend more time.
The property will go to auction on June 25 through Brad Caldwell-Eyles of <a href="https://www.1stcity.com.au/Buying/Search/Detail.aspx?id=HCES298&amp;wlid=265bebde-7115-4216-ab52-b88c39133964" target="_blank">1st City Hasemer and Calwell-Eyles Double Bay.</a>
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Jeremyville artist lists Rex, Potts Point trophy apartment

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The Adelaide residential property market reached the bottom of the cycle in the second half of 2012, according to property valuers Herron Todd White.
Since that time, HTW says there has only been minimal improvement to property values overall, which is somewhat expected given the uncertainty surrounding current economic conditions, both locally and federally.
HTW believes that Adelaide’s property market will gradually recover over the next few years.
The firm believes that the average potential buyer is more conservative and reluctant to commit to any further financial pressure, due to job security and the cost of living expenses.
Also contributing to people’s reluctance to commit to major financial decisions is the federal election later this year and the state election in March next year. 
“Especially as it is speculated that both federal and state will see a change of government – this usually occurs in the lead up to an election but is expected to be somewhat offset by an increase of activity once the vote has been finalised whatever the outcome.”
The firm says the recent reduction in interest rates was welcomed, however they believe many will use their current position to increase savings and pay back debt rather than add to any existing debt overall.
Herrod Todd White believe that the suburbs closer to the city will be the ones to improve in value first and show the best growth.
This growth will be driven by upgraders looking to move into more desirable suburbs, while also taking advantage of the price corrections that occurred over 2011 and 2012.
“Well located and appointed dwellings are selling fairly quickly within many of these suburbs when priced to meet the market, however there currently exists numerous factors holding back this market sector.
“These include there being limited stock coming onto the market so many potential buyers just can’t find what they are looking for.
“With limited properties on the market buyers often find it harder to make decisions because they can’t directly compare properties; difficult selling conditions mean that many upgraders are worried about selling their own properties and therefor choosing not to act; and with less potential buyers looking, or should we say, with less potential buyers willing to actually commit there is not enough competition between buyers in the current market to push up prices just yet.”
HTW says the recent interest rate cut may improve this situation a little but mostly it will just be time that improves Adelaide’s residential property market.
“If we roughly divide this market into two price brackets, we suggest $400,000 to $750,000 will secure an older detached three-bedroom, one- to two-bathroom dwelling or a newer (often attached) dwelling on a smaller allotment around seven to twelve kilometres from the city.
“Or $750,000 to $1.2 million for an older character three to four-bedroom, one- to two-bathroom detached dwelling or a newer dwelling (potentially attached) on a smaller allotment up to seven kilometres from the city or located within beachside suburbs.
The firm says properties that are better located and close to established and popular amenities have the best potential for capital gains.
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Time will improve Adelaide's property market as uncertainty around economic conditions linger: Herron Todd White

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A double-fronted Edwardian residence in Melbourne’s bayside suburb Middle Park was last week’s most expensive sale, selling at auction for $3.93 million, according to RP Data.
James Buyers Advocates says there was a large crowd of 180 at the June 2 auction.
Situated on 456 square metres, the home (pictured below) features four bedrooms, two baths and a double-storey extension.
{yoogallery src=[images/stories/2013/06/june5middlepark]}
Guy Angwin of James Buyer Advocates says although recently undergoing renovation, the property needed a rebuild to turn it into a modern floor plan.
The buyer's advocate Richard Kerr offered $3,050,000 which setting off some 60 subsequent bids between four bidders. At $3,550,000 the Middle Park property was announced as on the market.
It was knocked to the first bidder, an owner-occupier, at $3,930,000.
The property was listed through Oliver Bruce and Nicholas Hoo of Marshall White.
Its previous sale prices included $842,500 in 1999 and $621,000 in 1997.
The median house price for <a target="_blank" href="/news">Middle Park</a> is $1,371,000, according to RP Data.
The top ten most expensive sales:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/63_nimmo_street_middle_park_vic_3206/11777852">63 Nimmo Street, Middle Park, VIC, 3206</a>, four-bedroom house, sold at auction on June 2 by Marshall White &amp; Co for $3.93 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_weeroona_avenue_woollahra_nsw_2025/7743787">20 Weeroona Avenue, Woollahra, NSW, 2025</a>, five-bedroom house, sold at auction on May 29 by Richardson &amp; Wrench Double Bay for $3.3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_cheyne_walk_castlecrag_nsw_2068/1789553">4 Cheyne Walk, Castlecrag, NSW, 2068</a>, five-bedroom house, sold at auction on June 1 by L J Hooker Castlecrag for $3.27 million. <a target="_blank" href="/news">It was unrenovated</a>.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11/56a_pirrama_road_pyrmont_nsw_2009/14515647">11/56A Pirrama Road, Pyrmont, NSW, 2009</a>, three-bedroom unit, sold on June 1 by Feldi Property Agents for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/312_albert_road_south_melbourne_vic_3205/13094171">312 Albert Road, South Melbourne, VIC, 3205</a>, five-bedroom house, sold at auction on June 1 by Hocking Stuart Albert Park for $2.855 million. It had last sold at $2.2 million in 2007.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37_bent_street_paddington_nsw_2021/5261867">37 Bent Street, Paddington, NSW, 2021</a>, three-bedroom house, sold prior to auction on June 1 by McGrath Estate Agents for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/33_suffolk_avenue_collaroy_nsw_2097/1891835">33 Suffolk Avenue, Collaroy, NSW, 2097</a>, five-bedroom house, sold at auction on June 1 by McGrath Estate Agents for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/383_esplanade_henley_beach_sa_5022/9783975">383 Esplanade, Henley Beach, SA, 5022</a>, three-bedroom house, sold at auction on June 1 by Ray White Henley Beach for $2.385 million 
<a target="_self" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/113/19_hickson_road_dawes_point_nsw_2000/7252224">113/19 Hickson Road, Sydney, NSW, 2000</a>, three-bedroom unit, sold on May 28 by McGrath Estate Agents for $2.38 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4b_duke_street_balmain_east_nsw_2041/1261722">4B Duke Street, Balmain East, NSW, 2041</a>, three-bedroom house, sold on May 29 by Bresicwhitney Estate Agents Darlinghurst for $2.2 million
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
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Double-fronted Middle Park Edwardian residence fetches $3.93 million: RP Data

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.

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<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.

[smartcode_project:default project_id=1979 project_image_fid=363229]

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."

[smartcode_project:default project_id=1979 project_image_fid=363228]

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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

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

Nicola Trotman

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