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McGrath Limited have announced that prestige agent Rose Farina has joined McGrath, as the company acquired her rent roll and business (currently operating as Ray White Northbridge), located in Sydney’s Northbridge region of the Lower North Shore.
CEO Geoff Lucas (pictured middle) said attracting highly respected agents is a strong indicator of continued influence of the McGrath brand.
“Northbridge is an important component of the Lower North Shore market."
He said the acquisition was an "excellent example of prime residential and aspirational family precincts that are part of a continued focus for McGrath and its prominence in this desirable region of Sydney.”
It would supplement the new McGrath offices in Mosman, Willoughby and Castle Cove as well as the company’s well established Crows Nest operation.
Ms Farina (pictured right) has over 25 years experience in the real estate industry, beginning her career as an interior designer. She first honed her negotiating skills with well respected agent Deborah Kerr.
Rose has worked in the local area for 10 years, and together with agents Denise Woo and Jeff Woo, will continue their customer centric approach to selling homes under McGrath.
Outstanding sales in the past twelve months include a record $12.6 million achieved for a 4 bedroom waterfront at 11 Minimbah Road, Northbridge; and more recently the 5 bedroom home at 13 Marana Road that sold after one week for $3,070,000; and an off market $4,535,000 for 3 Weetalibah Road, Northbridge.
McGrath’s presence in the Northbridge area is serviced by existing McGrath agents Alon Beran and Harriet Halmarick and the addition of Rose, Jeff and Denise will reinforce the company’s commitment to the area.
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McGrath Northbridge will be located at 2/155 Sailors Bay Rd, Northbridge.
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j.ballantyne1990-6AQqhLzZaK

Ray White Northbridge's Rose Farina joins McGrath as agency boosts rent roll

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ASIC has commenced civil proceedings in the Federal Court against Mustafa Mohammed, Mahek Mustafa, Mubashir Mohammed, MyWealth Manager Financial Services Pty Ltd (trading as MyWealth Manager), MyWealth Protection Pty Ltd, 3M Financial Planning Pty Ltd (trading as MCube Planners) and Secure Investments Pty Ltd (together the Defendants).
ASIC is seeking declarations from the Federal Court that the Defendants have contravened the Corporations Act by operating an unregistered managed investment scheme called ‘MyWealth Manager’. ASIC alleges the scheme should have been registered and that the Defendants operated the scheme without holding an Australian Financial Services (AFS) licence.
On 21 November 2019, ASIC obtained interim orders in relation to the Defendants, including orders:
1. appointing Tim Norman and Rob Woods of Deloitte as Receivers and Managers of MyWealth Manager Financial Services Pty Ltd and 3M Financial Planning Pty Ltd; 2. restraining the assets of the remaining Defendants; 3. restraining the Defendants from carrying on a financial services business in this jurisdiction without an AFS licence; 4. restraining the Defendants from managing, directing, controlling or otherwise operating the unregistered scheme; and 5. restraining the Defendants receiving, soliciting, transferring or disposing of investor funds received in connection with the unregistered scheme. 6. ASIC alleges Mustafa Mohammed operated My Wealth Manager from February 2017and targeted consumers from certain ethnic and cultural backgrounds.
ASIC alleges the scheme has raised approximately $7 million from more than 55 investors where investors were encouraged to roll over their externally managed superannuation into newly created self-managed superannuation funds (SMSFs) and then invest the SMSF monies, by way of a loan, in MyWealth Manager.
ASIC also alleges that the Defendants used investor funds for their own personal use, including substantial payments to friends and family members and the promotion of cryptocurrency.
ASIC said their investigation is continuing.
The hearing has been adjourned to a date to be fixed after 5 December 2019.
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ASIC takes civil action against former Financial Adviser Mustafa Mohammed and Co

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After two solid months of growth in August and September, online retail sales weakened in October, according to the latest NAB Online Retail Sales Index data.
Transactions went back -1.4 per cent over October, however year on year were up over seven percent despite slowing growth.
The largest sales category, homewares and appliances, recorded a significant monthly contraction in sales, and was a key contributor to the headline result. 
There was further improvement in sales growth for the second largest sales category, grocery and liquor.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/Online%20retail%20sales%20mom%20NAB.jpg" alt="">
This category was significantly impacted by the mid-year sales weakness, so much so, that its share of the online index has dropped from around 28% a year ago to about 26% now.
The smallest sales category, takeaway food, has been the most volatile in terms of sales growth; through this volatility, this category’s sales are up 80% when compared to the monthly sales of October 2018, and is almost 50% larger in the 12-months-to October 2019. 
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/4/NAB%20MOM%20retail%20sales.jpg" alt="">
Alan Oster said, Chief Economist, NAB said, "The three most populous states represent just over 80% of all online sales, slightly above their share of the population. Of these large sales states, Victoria leads in year-on-year growth, with ACT and NT leading the smaller sales regions."
"On average, online sales growth in Victoria has been higher than NSW over the past couple of years. Consequently, the gap in spend share between the two is narrowing."
"Representing about two-thirds of all online sales, metropolitan areas recorded a bigger contraction in sales growth in October, relative to regional areas."
"This generally followed across all states except WA, where regional sales growth contraction was larger than metro areas. In addition, regional online retail continued to grow in NSW and SA, indicating that the headline contraction for these states was driven by metro areas."
"By merchant location, international retailers (+1.0%) grew strongly in the month, while domestic (-1.6%) retailers contracted."
"While key domestic categories of grocery and liquor, and personal and recreational continued to grow, it was insufficient to offset weakness in the sales categories of homewares and appliances, media, fashion, and department stores."
"Fashion, games and toys, and small sales category takeaway food contributed to the continued growth for international merchants, he concluded.
<address> </address>
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Online retail sales weakens after strong growth: NAB

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Centuria Property Funds Limited has announced that contracts have been exchanged to sell 2-10 Wentworth Street, Parramatta, NSW for $105.3 million.
Settlement is expected to occur in Q1 CY2020. The A-grade office tower was purchased in December 2014 for $45.1 million.
Commenting on the sale of the property, Centuria joint-CEO Jason Huljich said, "when we purchased Wentworth Street in December 2014, our view was that the Parramatta office market was poised to benefit from a number of positive factors, including improving infrastructure links, the decentralisation of NSW government departments, and the overall gentrification of the area."
“At the same time, A-grade office vacancy was below 1%, which we believed could support stronger tenant appetite for quality office properties, which in turn would mean upward pressure on rents – which the Parramatta market has seen in recent years,” he said.
Over the past five years Centuria completed leasing transactions over 90% of the property (9,807 sqm) and achieved sizable rental growth – from an average of approximately $497 per sqm gross at acquisition to $617 per sqm gross at sale – an increase of 34%.
Mr Huljich explained that Centuria has a strong focus on creating value for unitholders, by maintaining close relationships with tenants and actively responding to their needs.
“Quality tenants underpin the strong, reliable income streams,” he said.
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Centuria sells Parramatta office tower for $105 million

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The performance of Australian residential mortgage-backed securities (RMBS) will weaken moderately in 2020, following some improvement in Q3 2019, but delinquencies will remain low overall, according to a new report from Moody's Investors Service.
Their report found tat Australia's muted economic environment, record levels of household debt and the conversion of interest-only mortgages into principal and interest loans will lead to a moderate increase in RMBS delinquency rates in 2020. However, mortgage borrowers are seeing some relief in the form of low interest rates and rising house prices, which should constrain the degree of deterioration.
The 30+ day delinquency rate for prime Australian RMBS decreased to 1.57% in September 2019 from 1.67% in June 2019.
Moody's has lowered its growth forecast for the Australian economy over recent months and now expects real GDP growth of 2.2% for 2020, down from an earlier forecast of 2.5%.
The forecast for 2020 is higher than the 2.0% recorded in 2019, but down considerably from 2.7% in 2018.
Alena Chen, Vice President, Moody’s said, in this economic environment, expect mortgage delinquencies to increase moderately, particularly given that high household debt - which amounts to almost 200% of annual gross disposable income - will leave households vulnerable to economic and housing market shocks."
"However, we expect most mortgage borrowers will be able to continue meeting mortgage repayments at Moody's forecast level of economic growth and unemployment, which means delinquencies will remain low overall," she stated.
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Australian RMBS will weaken moderately in 2020: Moody’s Investors Service

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The businessman John Gillett has decided to sell three redundant blocks of the Taj on Swan site <a href="https://www.afr.com/property/residential/taj-on-swan-owners-set-to-lose-more-than-5m-as-peppermint-grove-site-sells-20180807-h13mps">he bought last year for $17 million</a> in Peppermint Grove.
It was bought from former fertiliser entrepreneur Pankaj Oswal and his wife Radhika.
Gillett and his wife Jocelyn have applied to the WA Planning Commission to split their 6580 square metre superblock.
They have sought three blocks - 765 square metres, 875 square metres and 1104 square metres.
The abandoned home building block of flamboyant billionaire tycoons, Pankaj and Radhika Oswal was sold earlier this year.
Marketed as "the most famous block in Australia" the <a id="LPlnk998012" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> was sold through Ray White agent Vivien Yap in conjuction with Sotheby's agent Graham Bowie. 
The now demolished mansion with Swan River views sat unfinished after the Oswals quit Australia in 2010 amid a dispute with bankers about the wind up and sale of their fertiliser business.
The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant.
The Oswals paid $22.7 million in 2007 when it was bought from developer Warren Anderson then starting construction a year later on a "two-storey, Indian-infused luxury residence".
"The Gillett family is optimistic that the rarity of blocks in this superb location, plus a gradually improving property market, means that the land will be attractive to buyers," a spokesman for Gillett told Nine Entertainment.
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WA Planning Commission asked to further subdivide Taj on Swan, Peppermint Grove residential housing site

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EXPERT OBSERVATION
The CoreLogic Home Value Index of national home prices rose by 1.7% in November, the biggest increase since October 2003.
And capital city home prices rose by 2.0% – also the biggest lift in 16 years.
Regional home prices rose by 0.5% in the month. Sydney home prices lifted by 2.7% in November – the biggest monthly increase since October 1988.
Of the 88 SA4 regions across Australia, home prices were up on a year ago in 39 regions. Home prices in West and North-West Tasmania rose by 5.9% over the year.
The Australian Industry Group (AiGroup) Performance of Manufacturing Index fell from 51.6 points to a 3-year low of 48.1 points in November.
And the ‘final’ CBA/IHS Markit Manufacturing Purchasing Managers' Index fell from 50.0 points to a 31⁄2-year low of 49.9 points. Any reading below 50 indicates contraction in activity.
What does it all mean? 
Aussie home prices are booming. National property prices lifted by the most in 16 years in November. And in Australia’s most populous city – Sydney – home prices surged by 2.7%, posting the biggest monthly gain in 31 years.
Record-low mortgage rates and an easing in lending standards have seen a surge in demand.
In fact, preliminary ‘unadjusted’ auction clearance rates last weekend came in at 84.7% in Sydney and 78.3% in Melbourne, according to CoreLogic results.
And on the supply side, the limited pool of housing stock for sale is also supporting a surge in home price growth.
For combined capital cities, the number of new homes listed for sale is down by 15.3% over the year to November with Sydney listings down 23.1%, according to CoreLogic. Newly advertised listed stock is at the lowest level since 2007.
The rapid recovery in the property market since the Federal Election has seen national home prices post their first annual gain (up 0.1%) since April 2018. Still, in many regions, home prices are lower than a year ago.
In fact there were annual gains in home prices in only 39 of the 88 regions in November. But home prices in Tasmania’s West, North West and South East are up 5.3-5.9% over the year to November. And in Melbourne’s posh Inner East, annual gains are a nation-leading +8.0%. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/common%20sec%201.jpg" target="_blank">Click here</a> to enlarge:
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/common%20sec%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%202.jpg" target="_blank">Click here </a>to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%202.jpg" alt="">
What do the figures show? 
Home prices
The CoreLogic Home Value Index of national home prices rose by 2.0% in November, the biggest increase since October 2003. Home prices are 0.1% higher over the year. 
In capital cities, prices rose by 2.0% – the biggest lift in 16 years – to be up 0.4% over the year to November. House prices rose by 2.1% and apartment prices lifted by 1.6%. House prices were up 0.1% on a year ago and prices of apartments increased by 1.4%. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%203.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%203.jpg" alt="">
In regional areas, home prices rose by 0.5% with houses and apartment prices also both up by 0.5%. Regional home prices are down 1.2% on the year to November. 
The average Australian capital city house price (median price) was $652,446 and the average unit price was $563,439 in November.
Dwelling prices rose in seven of the eight capital cities in November. Home prices rose by the most in Sydney (up by 2.7%), followed by Hobart (up by 2.3%), Melbourne (up by 2.2%), Canberra (up by 1.6%), Brisbane (up 0.8%), Adelaide (up by 0.5%) and Perth (up by 0.4%). But prices fell in Darwin (down by 1.2%). 
Home prices were higher than a year ago in four of the eight capital cities in November. Prices rose the most in Hobart (up by 4.2%), followed by Canberra (up by 3.0%), Melbourne (up by 2.2%) and Sydney (up by 1.6%).
But prices were down in Darwin (down by 10.9%), Perth (down by 7.7%), Brisbane (down by 0.5%) and Adelaide (down by 0.5%).
Total returns on national dwellings rose by 4.1% in the year to November - the most in 19 months - with houses up by 3.6% on a year earlier and units up by 5.4%.
In contrast, the S&amp;P/ASX All Ordinaries Accumulation Index lifted by 25.9% over the year to November. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%204.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%204.jpg" alt="">
Manufacturing Purchasing Managers’ Indexes - November
The Australian Industry Group (AiGroup) Performance of Manufacturing Index fell from 51.6 to a three-year low of 48.1 points in November. And the CBA/IHS Markit Manufacturing Purchasing Managers' Index fell from 50.0 points to 3½-year lows of 49.9 points in November. Any reading below 50 indicates contraction. 
According to AiGroup: “Drought remains a top concern for many manufacturers, particularly those located in rural areas or those selling metal products and machinery &amp; equipment to the agricultural sector. The small but diverse Textiles, Clothing and Footwear (TCF), paper and printing’ sector recorded its lowest reading since early 2013, with respondents noting weak market demand and rising raw material costs."
According to CBA/IHS Markit: “Australian manufacturing conditions were broadly stagnant in November, as a survey-record fall in new orders and a decline in output weighed on the headline PMI. A weakening sales trend contributed to a further fall in backlogs which, in turn, dampened hiring. Jobs growth was marginal. Meanwhile, firms once again failed to add to inventories of both inputs and final goods while business confidence fell to the lowest since June 2016.”
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%205.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%205.jpg" alt="">
What is the importance of the economic data? 
The CoreLogic Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic Hedonic Index includes all properties. Home prices are an important driver of wealth and spending.
The AiGroup and CBA Purchasing Manager indexes (PMIs) for services and manufacturing are released each month. The Australian PMIs are the local equivalents of similar indexes released for other countries.
The PMIs are amongst timeliest economic indicators released in Australia. The PMIs are useful not just in showing how the sectors are performing but in providing some sense about where they are heading. The key ‘forward looking’ components are orders and employment. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%206.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%206.jpg" alt="">
What are the implications for interest rates and investors?
The Aussie property market is booming due to strong demand, reduced supply and record low interest rates.
And with listings remaining at very low levels, residential home building falling and population growth remaining solid, could a potential housing shortage boost home price growth even further in 2020? Yes, according Commonwealth Bank Group economists whom are forecasting a 6.1% lift in capital city home prices over the year, led higher by Sydney (up 7.0%) and Melbourne (up 8.0%).
Gains of 2.5-4.0% are expected elsewhere except Darwin, with prices tipped to be flat. If this materialises, consumers may feel a tad more optimistic about their wealth and be encouraged to increase their discretionary spending. But tepid wage growth and elevated mortgage debt will likely restrain consumers.  
Global manufacturing conditions have improved. In fact, the November purchasing manager index readings for leading exporters’ Germany, Japan and China have bottomed after a period of contraction.
Trade tensions between the US and China have eased in recent months with the official Chinese factory gauge expanding in November for the first time since April on improving external demand.
But the outlook for global growth is highly dependent on a ‘phase one’ trade deal negotiations with the next tranche of US tariffs – 15% duty on US$156 billion worth of Chinese products – due on December 15. 
But things aren’t as promising for Aussie manufacturers. Both the AiGroup and CBA/IHS Markit manufacturing gauges hit three-year lows with activity contracting in November.
Like the Reserve Bank and most market economists, the AiGroup has implored the Federal Government to deploy additional fiscal stimulus measures to ‘jump-start’ the economy.
The AiGroup said: The further fall in new orders is far from encouraging...stimulus from interest rate and income tax cuts has not so far flowed through to consumer and business spending. The Government will need to look very closely at additional stimulus options over coming months."
Commonwealth Bank Group economists expect another rate cut in February 2020. But with limited conventional monetary policy ammunition at its disposal, we would prefer to see additional fiscal initiatives – such as infrastructure spending and tax cuts - be announced by the Federal Government to prop up economic activity.
That said, credit ratings agency Standard &amp; Poor’s last week warned that Australia’s AAA sovereign credit rating could be at risk should the government announce large spending measures.  
Ryan Felsman is a senior economist at CommSec.
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Biggest increase in Aussie home prices in 16 years: Ryan Felsman 

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The most recent bushfires in November 2019 have had devastating impacts across NSW and QLD.
Looking back at the impact on property after previous catastrophic fire events shows some distinct trends:
<ul>
<li>The data shows that median house prices are affected by bush fires in many suburbs and regions, although it can vary significantly from one suburb to the next.</li>
<li>In the long term, house prices increase faster than the region and state median growth in part because new properties are built, improving the quality of stock in the areas.</li>
<li>Bush fire prone areas are often more remote and the properties are fewer and further between, so these factors play more of a part in the fluctuations in price growth, more than the risk of fire. </li>
<li>And, also, because there are few properties per suburb, the property data available is limited.</li>
<li>Property views in bush fire areas decrease initially but increase again as time goes by.</li>
<li>There is an increase in properties being listed for sale, following a bush fire, presumably because sellers want to leave the area. Although, there are often fewer properties listed in these areas anyway, due to lower population.</li>
</ul>
Below are some examples of where bush fires have played a part in median house price growth, using <a href="http://realestate.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=http://realestate.com.au&amp;source=gmail&amp;ust=1575313750071000&amp;usg=AFQjCNHWGVPMI21fYMWCOxoFkks5Ip6rCw">realestate.com.au</a> data.
Black Saturday
Median house price growth in many of the towns affected by the Black Saturday fires has exceeded that of the state or regions growth.
For example, the towns below have nearly all seen price growth increases of over 100%, whereas the regions that these towns sit within have not seen anywhere near the same growth.
This is partly because of the rebuilding that took place and stock will now be newer and better quality than before.
Presumably, fire retardant materials and other preventative measures would have been built into the properties, making them more valuable.
It is also likely that many of these suburbs have become more desirable over time for other reasons (e.g., affordability, large homes on large blocks, etc).
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="267">
Suburb
</td>
<td valign="bottom" nowrap width="195">
% growth in house prices over 10 years
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kilmore
</td>
<td valign="bottom" nowrap width="195">
66%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kilmore East
</td>
<td valign="bottom" nowrap width="195">
42%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Murrindindi
</td>
<td valign="bottom" nowrap width="195">
146%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kinglake
</td>
<td valign="bottom" nowrap width="195">
150%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kinglake Central
</td>
<td valign="bottom" nowrap width="195">
113%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kinglake West
</td>
<td valign="bottom" nowrap width="195">
110%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Strathewen
</td>
<td valign="bottom" nowrap width="195">
229%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
St Andrews
</td>
<td valign="bottom" nowrap width="195">
114%
</td>
</tr>
</tbody></table>
 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="330">
SA4 Region
</td>
<td valign="bottom" nowrap width="125">
% growth in house prices over 10 years
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="330">
Melbourne - North East
</td>
<td valign="bottom" nowrap width="125">
76%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="330">
Hume
</td>
<td valign="bottom" nowrap width="125">
56%
</td>
</tr>
</tbody></table>
Bunbury fire of 2016
In January 2016, a bushfire affected the Harvey and Waroona areas of WA. It affected 10 towns and destroyed 162 properties.
Below, shows the median price growth the year before and the two years after the fire.
You can see that these towns were showing positive price growth until 2016, in contrast to the growth in Bunbury and WA as a whole.
Then prices were affected at a greater level than the rest of the state.
(data was available for eight of the 10 towns affected)
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="146">
 
</td>
<td valign="bottom" nowrap width="85">
2015
</td>
<td valign="bottom" nowrap width="85">
2016
</td>
<td valign="bottom" nowrap width="85">
2017
</td>
<td valign="bottom" nowrap width="85">
2018
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="146">
Bushfire affected Towns
</td>
<td valign="bottom" nowrap width="85">
2.95%
</td>
<td valign="bottom" nowrap width="85">
0.46%
</td>
<td valign="bottom" nowrap width="85">
-6.18%
</td>
<td valign="bottom" nowrap width="85">
-6.07%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="146">
Bunbury SA4
</td>
<td valign="bottom" nowrap width="85">
2.56%
</td>
<td valign="bottom" nowrap width="85">
-2.50%
</td>
<td valign="bottom" nowrap width="85">
-2.56%
</td>
<td valign="bottom" nowrap width="85">
-1.32%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="146">
WA
</td>
<td valign="bottom" nowrap width="85">
-0.20%
</td>
<td valign="bottom" nowrap width="85">
-4.62%
</td>
<td valign="bottom" nowrap width="85">
-3.16%
</td>
<td valign="bottom" nowrap width="85">
-2.17%
</td>
</tr>
</tbody></table>
Property views for all of the Bunbury suburbs decreased in February, following the fires in January and although the volumes of properties for sale in these areas is always low, there was an increase in average listed properties after the fires.
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How do bushfires impact property prices: Realestate.com.au's Nerida Conisbee

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A substantial land holding with redevelopment potential (STCA) at Preston in Melbourne’ s inner north has hit the market.
The property, which is being offered for the first time in 35 years, will be sold by expressions of interest.
Located within close proximity of Northland, the 106 Bell Street is nine kilometres from the Melbourne CBD.
The property comprises a number of buildings/ sheds/warehouses of basic construction covering about 1000 square metres while the remainder of the land is sealed and utilised as hardstand. 
The near one acre, 3890 square metre site is zoned Industrial 3 and has seven metres frontage to Bell Street. 
The broad purpose of Industrial 3 zoning is to provide for industries and associated uses, to provide a buffer between the Industrial 1 Zone or Industrial 2 Zone and local communities, and to allow limited retail opportunities.  
According to marketing agents, Teska Carson’s George Takis and Adrian Boutsakis the property would suit an industrial park redevelopment or an owner-occupier yard.  
"The fact that the area has attracted the likes of Mazda, NAB, Office Works, Total Tools and Harvey Norman really underscores the significance of this location and the opportunity that the sale presents," Takis said. 
The property will be sold subject to a short term lease at a rental of $120,000 per annum gross. 
"As an inner suburb within close proximity of the CBD Preston has and continues to benefit from new development, population growth and gentrification, providing owner-occupiers, investors and developers with excellent growth," Boutsakis said.
"Key drivers have included an excellent level of amenities, an extremely popular market, Northland Shopping Centre, trains, trams, and schools and relatively affordable housing."
He said Bell Street provided easy access to several key arterials including Albert Street, Murray Road, Plenty Road, Chifley Drive and the Eastern Freeway. 
Boutsakis said the property’s key attributes included:
<ul>
<li>Industrial 3 zoning;</li>
<li>Large 3890 square metre site;</li>
<li>Prime Bell Street location;</li>
<li>Access to all amenities;</li>
<li>Main street frontage and exposure; </li>
<li>Short term holding income; and,</li>
<li>Close proximity to the CBD.</li>
</ul>
The expressions of interest campaign for the property closes on December 9.
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Development site of nearly once acre in Preston for sale

<html><body>
Fashion designer Kit Willow has yet to sell her Vaucluse home which was listed for auction last month. 
The redesigned 1930s home came with revised $5 million auction hopes through Laing &amp; Simmons agent D’Leanne Lewis.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/19/vau%201.jpg" alt="">
Earlier this year Willow and her husband, property developer Mark Podgornik, had anticipated pocketing $5.8 million.
The home now has a $4.6 million to $4.7 million guide.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/19/vau%203.jpg" alt="">
The couple had bought the house in 2010 for $2.1 million followed by a two year renovation creating the three-level residence with a glass-fronted living area and a separate au pair suite.
Willow is now asking between $4.6 million and $4.7 million.
This article first appeared in The Daily Telegraph. 
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Fashion designer Kit Willow's Vaucluse home yet to sell

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]

Staff reporter

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