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A property in artist Margaret Olley’s estate has been listed for sale in Newcastle.
Located on <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://www.walkom.com.au/buying/search/detail.aspx?id=WLS72501499&amp;wlid=01326ba9-f553-4719-aba3-17d1f1159885" target="_blank">Church Street</a>, the three-storey terrace is one of eight properties Olley owned in The Hill precinct in the 1960s.
It was the only one she held onto until her death in July 2011 aged 88.
Set on 120 square metres of land, the property has been divided into two self-contained flats.
The street level unit comprises of four bedrooms, one bathroom and a north facing enclosed balcony with harbour views and a courtyard.
The self-contained basement flat includes one-bedroom, one-bathroom and a private courtyard.
Estate agent Sonia Walkom of Walkom Real Estate says the property can easily be restored to one residence.
In terms of any traces of the renowned artist, Walkom says there aren't any.
"Margaret hasn't lived there since the 60s or 70s and has held the property as an investment," says Walkom.
Walkom says Olley once used the basement as her studio.
The property is due to go under the hammer on May 25 with $600,000 hopes and has a rental income of around $600 per week.
Olley’s Paddington home where she spent most of her time will be gutted and transported to create the $4.5 million Margaret Olley Arts Centre in <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="/news" target="_blank">Murwillumbah</a>.
The regional NSW centre is designed by architect Bud Brannigan and will include exhibition space, an education workshop facility, library, collection storage, multi-media areas and a standalone studio for artists.
It was also include recreations of Olley’s home and studio, including the Hat Factory and the Yellow room.
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Artist Margaret Olley's Newcastle terrace to go under the hammer

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As the Dog Lover’s Show kicks off in Melbourne today, Property Observer looks at some of the most eccentric kennels to the basic do-it-yourself kennels. 
To start off with a bang, we’ll start with the most eccentric and even most ridiculous kennel owned by none other than Paris Hilton herself.
Hilton’s <a href="https://www.treehugger.com/sustainable-product-design/untreehugger-paris-hiltons-325000-dog-mansion" target="_blank">doggy-house</a> or miniature mansion (pictured below) cost $325,000 and was designed to resemble Hilton’s own home.
<img alt="doghousemay3one" height="357" width="470" src="/images/stories/2013/05/doghousemay3one.jpg">
The two-storey dog mansion features an air conditioner, designer furniture and the upstairs bedroom even includes a wardrobe.
Coming in second place is Rachel Hunter’s £25,000 <a href="https://metro.co.uk/2008/04/23/25-000-kennel-with-the-bow-wow-factor-106700/" target="_blank">doghouse</a> (pictured below) that was designed to resemble her Californian mansion.
<img alt="doghousemay3two" height="356" width="470" src="/images/stories/2013/05/doghousemay3two.jpg">
Just some of the facilities include running water and furniture.
If you’re into spoiling your pooches you can have a <a href="https://www.beyondthecrate.com/celebrity-brickmansion-dog-house" target="_blank">custom designed doghouse</a> (pictured below) by Alan Mowrer for $25,000.
<img alt="doghousemay3three" height="420" width="470" src="/images/stories/2013/05/doghousemay3three.jpg">
He arranges a consultation with his clients to discuss architectural preferences and landscape ideas.
His custom-made houses include running water, lighting, air condition and a heater.
<a href="https://www.beyondthecrate.com/cabanna-digs" target="_blank">The Notre Palais</a> (pictured below) was created by Barbara Thulin-Joyce and can be yous for $3,400.
<img alt="doghousemay3four" height="503" width="470" src="/images/stories/2013/05/doghousemay3four.jpg">
It has been made from a vintage radio frame that has been converted into a pet bed.
<a href="https://www.beyondthecrate.com/dd-royal-cabana" target="_blank">The Royal Cabana</a> (pictured below) – built was Charles Blackhawk - will set you back $1,500.
<img alt="doghousemay3five" height="324" width="470" src="/images/stories/2013/05/doghousemay3five.jpg">
If your pooch is royalty in your eyes, you can have their name bejeweled in Swarovski Crystals to adorn the entrance.
If you want your doghouse to compliment your living room, you can opt for a <a href="-%20http:/www.skymall.com/shopping/detail.htm?pid=204082817&amp;c=10710" target="_blank">Townhaus Dog Crate</a> (pictured below).
<img alt="doghousemay3six" height="379" width="470" src="/images/stories/2013/05/doghousemay3six.jpg">
These crates blend in with your furniture and can be used as a side table.
Townhaus Dog Crate’s range in price from $450 to $550.
Struggling for space? Why not incorporate your doghouse into your home?
The <a href="https://stylecrafthomes.com/2012/05/01/pet-friendly-homes/" target="_blank">Style Craft Homes</a> has featured a doghouse (pictured below) built into the stairwell to maximise space-conscious homes.
<img alt="doghousemay3seven" height="337" width="470" src="/images/stories/2013/05/doghousemay3seven.jpg">
Back to basics, <a href="https://www.mitre10.com.au/Planning-and-DIY/Resources/DIY/MitrePlans/view/2875/" target="_blank">Mitre 10</a> has a guide to DIY dog kennels that won’t hurt your pocket.
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Dog lovers show off their amazing kennels: Eight dog houses for spoilt pooches

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No capital cities experienced an increase in stock levels over the month of April, with Sydney recording the greatest monthly decline of -9.7%, according to the latest SQM Research report.
Stock listings declined nationally by 2.7% over April with online residential listings sitting at a total of 345,034.
Nationally, stock listing decreased -1% year on year when compared to April 2012.
Sydney recorded the greatest monthly decline of -9.7% with a total stock listing of 25,121 for the month of April.
<img height="165" width="470" src="/images/stories/2013/05/sqmchartmay3one.jpg" alt="sqmchartmay3one">
Compared to April 2012, Sydney experienced a -14.5% decrease.
Melbourne recorded a monthly decrease of -1.1% with a total 44,829 listed stock for the month of April.
Year on year, Melbourne experienced an increase of 1.7%.
Managing Director of SQM Research Louis Christopher says Melbourne still has too much stock on the market.
“It looks elevated,” says Christopher.
Darwin experienced the smallest decrease of -0.1% during April with a total of 1,176 listed stock.
Meanwhile, Canberra recorded the largest yearly increase in stock levels, growing 5.2% since April 2012 with a total of 3,768 listed stock.
Canberra recorded a decrease of -1.9% for April but Christopher says that’s seasonality.
“It is becoming clear now that these results of late have been more influenced by seasonality rather than cyclical factors.
“That suggests to me that the forces of demand verses supply in the national housing market are reasonably balanced right now.
“Sydney is clearly in recovery mode, while I strongly believe Canberra is in a downturn,” says Christopher.
SQM says the property market is now showing signs of shifting from a volatile market, which has been dependent on interest rates and the country’s economic climate, to a market that is in the state of equilibrium between buyers and seller.
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The April capital city property market shrunk with Sydney's decline in stock levels at 9.7%: SQM

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In this week’s Purchase or Pass, Chris Gray is joined by Stuart Waugh from Bell Partners to take a look at a potential investment property and investigate whether we should buy it based on who looks after the body corporate.
This property was actually bought four years ago for $735,000. It’s a two-bedroom unit in a small block of four, 7.8 kilometres from the Sydney CBD. Even though it’s just 100 metres to the cafes and leisure facilities, it’s in a very quiet street with little through traffic. It has undercover parking out the front and a shared courtyard out the back.
{qtube vid:=RxH2xP9cxGQ&amp;feature=youtu.be}
Chris Gray: Now Stuart, before we get into the meat of things, does it roughly tick the boxes for most of the stats so far?
Stuart Waugh: It does. It has transport, it has cafes, it’s a small block, and it has good facilities within it. It would also be quite neat and tidy, so it ticks the boxes to start with yes.
Chris Gray: Now, the biggest dilemma here is the self-managed body corporate. For most people I know it could be called different things in different states, can you explain roughly what the body corporate is?
Stuart Waugh: The body corporate is basically the people that will govern how things are done, so the owners will determine what they want to do to it, and then the body corporate and strata managers will basically manage how that’s carried out in the property.
Chris Gray: Yep, so it’s something you’ve got to have on all blocks of units but the classic thing is, and I always say it’s our parents generation that are always trying to make money by saving money. So it costs $2,000 or $3,000 a year to administrate it and get professionals in, so you always get these people, typically older people, that say no we can do it ourselves but is that a forced economy?
Stuart Waugh: Absolutely, you can’t find people to spend $2,000 of their time to try and do it properly but you can actually find a professional body that will do it for $2,000 to do it really well so not only that, it’s always going to get shuffled to the back of the time of what you’re going to get done, if you are doing it yourself rather than paying someone to do it and doing it properly.
Chris Gray: Quite often you get one person in the block that thinks he’s king of the castle and tries to take it over and run the whole thing. But in this particular block, a lot of the owners didn’t get on together, so what are some of the potential downsides if it’s not run properly?
Stuart Waugh: Nothing gets done. If you can’t get agreement because people are fighting or not seeing eye to eye then you won’t get anything done. The property will start to get aged and not well maintained and therefore the purchase price or the sale price of the property will start to go down. It’s a big deterrent for anybody trying to buy that property if you can’t get a body corporate that gets on and gets things done.
Chris Gray: Exactly, because we do strata inspection reports every single time we buy property and if its self managed and there's no records because nobody’s kept any, then it gives you no confidence in buying the property, so certainly a bit of a risky one there. Purchase or pass on this one for you?
Stuart Waugh: I say purchase.
Chris Gray: Well we actually bought this unit for a time poor client a few years back and got our property manager involved in the strata meetings because the client didn’t want to get involved. Now over time the property manager convinced them to hire professional strata managers so it’s all since worked out for the best. It could have been an absolute nightmare though but the block is improving year on year. If I had my choice again, I would still go for a purchase as well.
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Purchase or Pass? Two-bedroom unit in Bronte

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The judging panel for the Crown Sydney Hotel Resort will soon go into deliberation, having released the architectural designs submitted after a design competition for the proposed project at Barangaroo South.
Internationally acclaimed architects Adrian Smith and Gordon Gill, Kohn Pedersen Fox and Wilkinson Eyre Architects submitted their designs to be reviewed by the judging panel.
<a href="/news">Vote for your preferred design in Property Observer's poll.</a>
“These designs are truly inspiring, they literally take your breath away,” says Crown Resorts chairman James Packer.
“With these sorts of designs, Crown Sydney will be the most iconic building constructed in this city since the Opera House.
“I want this building to be instantly recognizable around the world and feature on postcards and memorabilia promoting Sydney,” says Packer.
The judging panel is made up of representatives from Crown Resorts, Lend Lease, the Barangaroo Delivery Authority and the NSW Department of Planning and Infrastructure.
The Crown Sydney Hotel resort will have  350 guestrooms and suites if the casino operator actually secures final operating approvals from the state government and casino authorities.
Entry by Adrian Smith and Gordon Gill Architecture (AS+GG):
<img height="553" width="470" src="/images/stories/2013/05/barangarooasggmay3one.jpg" alt="barangarooasggmay3one">
Entry by Kohn Pedersen Fox Associates (KPF):
<img height="698" width="470" src="/images/stories/2013/05/barangaroomay3two.jpg" alt="barangaroomay3two">
Entry by Wilkinson Eyre Architects (WEA):
<img height="420" width="470" src="/images/stories/2013/05/barangaroomay3three.jpg" alt="barangaroomay3three">
The three short listed designs for Crown Resorts demonstrated a "new approach to the design of tall towers," according to the Urban Taskforce CEO, Chris Johnson.
"The three architects have incredible global track records in designing tall buildings. Clearly each team can deliver a quality final product."
"With my background as the NSW Government Architect for 10 years it is hard to resist giving some preferences even based on early information."
"The proposal by Adrian Smith and Gordon Gill (pictured below) is a fraction ahead in my assessment with its dynamic shape and its approach to the ground plane. These architects have designed some of the world’s tallest buildings from the beautiful Jin Mao tower in Shanghai, the Burj Khalifa in Dubai to the Kingdom Tower in Jeddah at 1000 metres and more recently their design for the 119 floor Greenland Centre in Wuhan in China."
{yoogallery src=[images/stories/2013/05/may3barangarooone]}
"Following close behind is the design by Wilkinson Eyre (pictured below) with a series of interwoven curves that emphasise the vertical form. This firm has designed the elegant Guangzhou International Finance Centre which has a flowing cigar shape to the 103 storey tower with a triangular atrium through the upper levels."
{yoogallery src=[images/stories/2013/05/may3barangaroothree]}
"Kohn Pedersen Fox have another flowing design (pictured below) with some midrise wings. Their impressive 118 storey International Commerce Centre in Hong Kong demonstrates the quality of their architecture and how an iconic building on the waterfront can add value to the city. "
{yoogallery src=[images/stories/2013/05/may3barangarootwo]}
"The three designs carry the spirit of the original design for a hotel in the water onto the land. These new designs add the spark that the hotel in the water provided back into the overall design. "
"Clearly there will be more refinement of the designs and a planning approval process that will assess the winning proposal in detail but Sydney looks like is getting a world class sculptural building that demonstrates our confidence as a global city," said Chris Johnson.
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Gone is the hotel over the water, but Crown's James Packer still harbours inspirational architecture for Barangaroo hotel 

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Ikea and Mirvac will join forces this weekend at the 56-hectare Elizabeth Hills estate in South West Sydney to demonstrate how you can furnish a three-bedroom home for just $15,000.
Swedish furniture giants Ikea supplied furniture for a three-bedroom, two-bathroom property on Feodore Drive in the Promenade neighbourhood, which was recently purchased for $465,000.
<img alt="mirvacadmay3one" src="/images/stories/2013/05/mirvacadmay3one.jpg" width="470" height="495">
The property is being used as a display home for the next coming weeks to demonstrate how to furnish your home on a tight budget.
The display home will launch May 4 with interior designer Tim Leveson conducting Open Book Design talks throughout the day.
Mirvac will also launch its 2C stage this weekend, consisting of 11 dwellings ranging from two-, three- and four-bedroom homes.
Three two-bedroom homes are available for $348,900 with block sizes ranging from 78 square metres to 89 square metres.
Five three-bedroom homes are available ranging in price from $475,000 to $505,000 with block sizes ranging from 260 square metres to 336 square metres.
Four four-bedroom homes will be released ranging in price from $580,000 to $599,900 with blocks ranging from 336 square metres to 362 square metres.
The 11 new dwellings are currently under construction.
Five remaining homes from other stages are also available.
The Elizabeth Hills development is located in the Cecil Hills district and was launched in November 2011.
Elizabeth Hills is named after Lazy Elizabeth Wylde, the wife of colonial judge advocate, John Wylde.
Wylde was granted 809 hectares upon arriving in Australia and the property – <a href="https://www.mirvacdevelopment.com/elizabeth-hills/history" target="_blank">Cecil Hills Farm</a> - continued operating as a farm up until the late 1980s.
Elizabeth Hills now comprises of 650 house sites, one hours drive from the Sydney CBD.
The Promenade neighbourhood launched late last year.
 
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Ikea and Mirvac team to show how to furnish a new home on a $15,000 budget 

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Hawthorn Green is the latest stage to be released in the Forest Ridge housing estate, 16 kilometres east of the Melbourne CBD.
After the successful sellout of the first three stages in the <a href="/news">Forest Hill</a> suburb, developer Excen has released 14 house and land packages in the Hawthorn Green stage.
Located on Elmington Avenue, the estate will be made up of four styles of home, which are all two-storey.
The Catherine style (pictured below) features three bedrooms, all located upstairs.
<img alt="catherine" src="/images/stories/2013/04/catherine.jpg" width="400" height="245">
The Juliette, Chloe and Carolina styles (pictured below) all feature four bedrooms.
{yoogallery src=[images/stories/2013/04/april19hawthorngreen]}
The homes are architecturally designed by dKO architects, with interior design by Libby Thornton and landscaped by Paul Hamilton Landscape.
The homes will feature exposed timbers, angled roofs, blade walls and decorative stonework, with inspiration evidently drawn from American architect Frank Lloyd Wright’s work.
<img alt="hawthorngreenapril19two" src="/images/stories/2013/04/hawthorngreenapril19two.jpg" width="470" height="260">
“Our homes and mature landscaping signify a new standard for Melbourne’s south-east and would not look out of place gracing the finest streets of Hawthorn or Kew,” says sales manager of Forest Ridge, Bonnie Formosa.
“The population of Forest Hill is growing rapidly with a younger and more family-centre focus which is perfect for the style of high quality, yet great value-for-money homes we are offering.”
Prices for home-and-land packages range in price from $988,000 to $1.095 million.
The homes range in size from 200 square metres to 250 square metres and the blocks range in size from 220 square metres to 380 square metres.
<img alt="hawthorngreenapril19one" src="/images/stories/2013/04/hawthorngreenapril19one.jpg" width="470" height="313">
Formosa says the homes have been designed to ensure the kitchen is the focal point.
“It is positioned to allow family and friends to congregate, reflecting today’s casual approach to entertaining, whilst ensuring the person who is preparing a meal feels connected to the living spaces,” says Formosa.
The kitchens feature a stone island bench and European stainless steel appliances.
<a href="https://www.forestridge3131.com.au/index" target="_blank">Buyers of the 14 terrace homes </a>will be required to pay a 10% deposit to secure their purchase.
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Hawthorn Green homes the newest addition to Forest Hill

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An oceanside apartment behind Cronulla’s iconic rock pool has been listed for sale with a price guide of $1.25 million.
Located in the Tiana complex on Ozone Street, the three-bedroom, two-bathroom apartment features an oversized entertaining balcony with ocean views.
The 151-square-metre apartment (pictured below) boasts high ceilings and a gourmet kitchen with marble bench tops.
<img src="/images/stories/2013/05/cronullamay2one.jpg" width="470" height="307" alt="cronullamay2one">
It previously sold in 2005 for $905,000 and in 2002 for $830,000.
Tiana was completed in 1995 by Bezzina property developers with 20 apartments.
Luke Barbuto of <a target="_blank" href="https://www.paynepacific.com.au/buying/NSW/Sutherland-Shire/Cronulla/Apartment/1P1410">Payne Pacific Estate Agents</a> has listed the property.
The median unit price in <a href="/news">Cronulla</a> is $492,250, according to RP Data.
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Tiana, oceanside Cronulla apartment seeks $1.25 million

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A former milk bar-cum-renovated three-bedroom gem on the border of Prahran and Windsor will go under the hammer this Saturday with a price guide of $940,000 to $1.05 million.
Located on Lewisham Road, interior designer Phillip Chester purchased the property in 2001 and transformed the property into a livable residence over the next decade with inspiration drawn from Europe.
The home, that features French doors to a north-facing courtyard, archways and rustic tiling, is scheduled for May 4 auction.
“The home has fantastic finishes, he’s really finished it brilliantly,” says agent Andrew James of <a target="_blank" href="https://www.propertyobserver.com.au/https://m.hockingstuart.com.au/buying/property/5365379">Hocking Stuart Real Estate Armadale.</a>
The 186-square-metre property also includes a self-contained home office with a kitchenette and ensuites.
James says there has been a great deal of interest in the property due to its unique offering of car access.
“I overheard one of the agents saying this property is owned by an interior designer, and wow can you sense it!" says Peter Sinclair of James Buyers Advocates.
Influenced by many designers including David Hicks and American architect Frank Lloyd Wright, Chester, after studying in Perth and working in the Northern Territory, moved to Melbourne to join Riddell Marly, one of Australia’s most distguished interior design practices. It was in 1976 when Riddell Interiors and Marly Interiors had merged to become Riddell Marly.
The duo's clientele read like a list of who's who in Australia - including Susan Sangster's famous Point Piper Sydney house, Toison d'or, the homes of three Lord Mayors of Melbourne and the Lodge in Canberra for a Prime Minister.  
 
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Former milk bar-cum-renovated Prahran residence to go under the hammer

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A four-bedroom terrace on Ocean Street Woollahra was the second most expensive sale across Australia last week, selling at auction for $3.8 million, according to RP Data.
The 1890s Victorian terrace is situated on a 400-square-metre block and last sold for $2.18 million in 2004.
The home has been restored and refurbished with interiors by Patricia Stewart Design and features three upstairs bedrooms and a coach house with guest studio.
The property boasts a travertine entertainer’s terrace with a built in BBQ and manicured gardens.
Double-glazing protects the home from the commotion of busy Ocean Street.
The property was sold at auction on April 23 by Jane Schumann and Gary Sands of <a href="https://www.dijones.com.au/794010/" target="_blank">Di Jones Real Estate.</a>
The highest recorded house price in Woollahra for the past 12 months was $10.75 million for a property at 20 Roslyndale Avenue in April last year.
The much reported <a target="_blank" href="https://www.propertyobserver.com.au/residential/unrenovated-premium-albert-park-terraces-yield-21-higher-than-2008-with-three-consecutive-weekend-offerings/2013042760793">Albert Park result</a> was the week's top auction result. 
The top 10 most expensive sales across Australia last week were
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/77_st_vincent_place_albert_park_vic_3206/9183484">77 St Vincent Place, Albert Park, VIC, 3206</a>, eight-bedroom house, sold at auction on April 27 by Cayzer Real Estate Albert Park for $4.008 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/111_ocean_street_woollahra_nsw_2025/7740609">111 Ocean Street, Woollahra, NSW, 2025</a>, four-bedroom house, sold at auction on April 23 by Di Jones Real Estate for $3.8 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/26_albyn_road_strathfield_nsw_2135/6478334">26 Albyn Road, Strathfield, NSW, 2135,</a> five-bedroom house, sold at auction on April 27 by George Ellis &amp; Co Real Estate for $3.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/49_bungan_head_road_newport_nsw_2106/4869040">49 Bungan Head Road, Newport, NSW, 2106</a>, five-bedroom house, sold on April 24 by L J Hooker Avalon for $3.25 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/22_fitzroy_avenue_balmain_nsw_2041/1255406">22 Fitzroy Avenue, Balmain, NSW, 2041</a>, three-bedroom house, sold at auction on April 27 by Belle Property Balmain for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/123_ocean_street_narrabeen_nsw_2101/4744100">123 Ocean Street, Narrabeen, NSW, 2101</a>, five-bedroom house, sold at auction on April 27 by L J Hooker Collaroy for $2.35 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/84_ramsgate_avenue_bondi_beach_nsw_2026/1524239">84 Ramsgate Avenue, Bondi Beach, NSW, 2026</a>, five-bedroom house, sold at auction on April 27 by McGrath Estate Agents for $2.23 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/109_esplanade_williamstown_vic_3016/13818960">109 Esplanade, Williamstown, VIC, 3016</a>, four-bedroom house, sold at auction on April 27 by Williams Real Estate Williamstown for $2.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/38_hopetoun_street_paddington_nsw_2021/5268950">38 Hopetoun Street, Paddington, NSW, 2021</a>, three-bedroom house, sold prior to auction on April 27 by McGrath Estate Agents for $2.1 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_napier_street_drummoyne_nsw_2047/2125752">3 Napier Street, Drummoyne, NSW, 2047</a>, three-bedroom house, sold at auction on April 27 by Cobden &amp; Hayson Balmain for $2.05 million.
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1890s Victorian terrace in Woollahra second most expensive auction across Australia last week: 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.

[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.

[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.

[smartcode_project:default project_id=1979 project_image_fid=363284]

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."

[smartcode_project_cta:default project_id=1979]

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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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