<html><body>
There are 966 homes scheduled for auction across Melbourne this weekend up from the 255 held during Melbourne Cup weekend.
There were more auctions squeezed in the week before the cup than this week. The city saw roughly 1,400 auctions take place in the week preceding the event.
The Melbourne suburb of Mount Waverley is host to the highest volume of auctions this weekend, with 19 homes set to go under the hammer, according to CoreLogic.
Next busiest are Reservoir, set for 18 auctions, as well as Craigieburn and Glen Waverley, also in Melbourne, with 17 scheduled auctions each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 2,257 currently being tracked by CoreLogic, increasing from the 1,555 auctions held last week at final results.
Over the same week, last year a higher 2,386 auctions took place across the capital cities.
Sydney is also expected to see an increase in activity this week, with 887 homes scheduled for auction, increasing on the 843 auctions held last week.
Across the smaller auction markets, the number of homes scheduled for auction this week is lower across Adelaide and Brisbane, higher in Canberra and Perth, while Tasmania will host only 6 auctions.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Melbourne auction volumes bounce back following Melbourne Cup break

<html><body>
EXPERT OBSERVATION
Lenders are reluctant to lend and buyers don’t want to buy when it comes to high-rise developments.
That’s according to RiskWise Property Research’s latest analysis of the construction industry which has been hit hard over recent months following the high-profile cases of the Mascot and Opal towers in NSW.
With cracks in both the Sydney towers, fears more will become apparent in other buildings and the need to replace combustible cladding in thousands of buildings throughout Australia, demand for units had dropped dramatically.
Lenders are proceeding much more cautiously too, and this includes non-bank lenders whose business model is to provide alternative solutions from the ADIs, and generally have a less conservative assessment of risk.
Add to that the issue of oversupply in many Danger Zone areas and there is very real risk for developers.
We have a situation now where lenders aren’t eager to lend and buyers don’t want to buy but we still have developers who are considering developing high rise.
Units in the pipeline for the next 24 months Australia-wide equate to 7.6 per cent of current stock. In Sydney there are 58,094 units in the pipeline or (9.5%) of current stock and in Melbourne there are 59,634 units in the pipeline or (8.1%) of current stock.
However, in the last three months to June 2019, only 8 per cent of stock sold in Sydney and in Melbourne, 12 per cent.
The high-profile issues around cladding and defects had created enormous ‘reputational damage’ across the entire industry and because of this, investors had lost interest in high-rise unit developments and were turning to “safer” house-and-land packages suitable for families.
And Sydney’s Mascot and Opal towers are not the only ones that have been hit with negative media coverage with a cladding fire taking hold in the 43-storey Melbourne building, Neo200, in February. In July, a development in Sydney’s Zetland was also forced to shut its doors on residents for eight months after reports of water damage and faulty fire prevention.
According to Knight Frank's Australian Residential Development Review, in Greater Sydney the value of sales of development sites suitable for high-density projects halved in the 2019 financial year, while average site values in both Sydney and Melbourne fell dramatically.
If you combine the recent quality issues with financial losses from investment in high-rise units, this could amount to a permanent structural change in demand.
In some cases developers, instead of assessing the true needs of the market, have developed large numbers of units and have needed to find ways to shift stock by using instrastate or overseas markets with high commissions that are often factored into the property price. A prime example of this type of poor risk management is the oversupply in the Brisbane unit market, as detailed in our case study of 2018, which resulted in lower valuations, rising defaults on settlements, heavy discounting and incredible incentives such as new cars.
We already have significantly reduced levels of demand due to restrictions on foreign investors, credit restrictions, banks refusing to loan to self-managed super funds and local investors looking elsewhere.
Add to that the high level of unit oversupply and it’s possible to see how structural changes could occur in a sense that the overall demand for off-the-plan dwellings shifts from units to house-and-land packages. Medium-density dwellings, such as townhouses, particularly in popular areas also enjoy higher demand.
Some developers were already struggling to meet pre-sales and / or sales targets in areas where there were high levels of stock and many had not proceeded to commencement. In other instances, according to recent media reports, development defaults were on the increase and many developers, such as the high-profile Ralan Group, had collapsed or were on the brink of failure.
 Without demand from investors, and other buyers, you don't have pre-sales or sales and the entire development is at risk. Obviously, an event of default is never planned by the developer. However, developers need to carefully assess the risk that they are taking the risk, and they need to be in a strong financial position to deal with the potential consequences and not be forced to do a fire sale.
Developers needed to do greater risk management and assess whether there was genuine demand for their product.
Demand for existing and off-the-plan properties, mainly units, began to lower with the introduction of APRA’s lending restrictions in 2017 followed by greater scrutiny of home loan applications.
However, with the addition of construction defects and cladding issues, greater government legislation within the industry and oversupply, demand had dropped even further and was now “extremely low” putting developers at higher risk of default if they did not do their due diligence.
DORON PELEG is the CEO of RiskWise
</body></html>

High-rise units are a massive risk for developers: RiskWise's Doron Peleg

<html><body>
The rental market in Mildura has been tight in recent years, with agents reporting very low vacancy rates, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report notes rents have been steadily increasing as a result. Gross yields of around 6% are typical for cheaper houses, in say the $225,000 to $275,000 range, stepping down to around 5% for more expensive houses in the $300,000 to $400,000 range.
"Investors who buy cheaper residential units can expect to get higher gross yields of up to 7%, however this has in the past been counterbalanced by reduced potential for longer term capital gain," the valuation firm said. 
"Investors also need to be mindful of the need for maintenance and eventual upgrading when buying older units or houses."
Demand for rental housing appears to come from a range of tenants and we regularly hear of families who move to Mildura for employment reasons (teachers, police officers etc.) having difficulty in finding suitable rental accommodation.
The growth in the areas planted to table grapes and citrus in the Mildura region has also created demand for seasonal workers and it is clear that there is a shortage of cheaper accommodation options for this sector.
Many older houses and cottages scattered throughout the surrounding rural area, together with a number of old motels are now generating comparatively strong rental returns as a result of being let to these seasonal workers.
"Our advice to investors is always to buy a property that you could imagine living in yourself. There are numerous examples of compact four-bedroom houses that have been built intentionally for the rental market and which have little if any verandah areas," the valuation firm said. 
"Mildura’s long hot summers are always more pleasurable when there is a covered outdoor area and we would expect tenant churn will be higher in the plainer homes that are not well suited to our climate.
"While yields are generally lower for newer homes and units, there will be lower maintenance costs and also the potential to claim depreciation allowances.
"We recommend any investors who would like to consider the option of claiming depreciation allowances contact our office for more details." 
</body></html>

Rents steadily increasing in Mildura: HTW residential 

<html><body>
The Bondi Pacific, Bondi Beach garden apartment of the managing partner of Johnson Executive Search, Jason Johnson, has been sold for $3,525,000 pre-auction.
Raine and Horne had been giving a $3.4 million price 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/2019/11/8/winner%20%201.jpg" alt="">
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-bondi+beach-132220262" target="_blank">208/180 Campbell Parade</a> two-bedroom, two-bathroom unit comes with garage.
It was was a winner at the Australian Interior Design Awards in 2018. 
<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/2019/11/8/bondi%202%201.jpg" alt="">
Johnson had Amber Road Design undertake a $400,000 renovation.
It included rattan ceiling detail and polished rendered walls along with custom timber joinery.
</body></html>

Australian Interior Design Award winner at Bondi Beach sold

<html><body>
Penthouse apartments in Elizabeth Bay, with their outlook across the boat-laden harbour, are a popular catch.
The latest sale crowns the 1970s Onslow Avenue apartment complex Tradewinds.
The living spaces are wrapped in wall to wall windows and a balcony that spans the entire width of the building.
The apartment has three bedrooms and three bathrooms, including a Japanese-style main tub and monsoon shower in the main bathroom. A stone and stainless steel kitchen with European fitout joins the living spaces.
Since it last traded for $2.13 million in 2008, there's been an upper level architect-designed extension, comprising a study and second sitting room wrapped in glass which opens to the roof deck and surrounding gardens.
<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/2019/11/7/Onslow%20penthouse%202.jpg" alt="">
BresicWhitney agents Shannan Whitney and Nick Gill had given a guide of $5.8 million, and they secured $4.85 million.
Last month a Manar, Potts Point apartment (below) resold for $3.75 million, a few weeks after its no-bid auction through Richardson &amp; Wrench agent Jason Boon.
<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/2019/11/7/Manar%20Potts%20Point.jpg" alt="">
It had been sold last November at $4.1 million but the sale did not proceed to settlement.
Records show that it was bought in 2009 for $2.25 million from the former lawyer­ Russell Keddie.
In August Clint Ballard at Ballard Property secured the sale of the two level penthouse (below) crowning one of the more modern blocks on Elizabeth Bay's harbour front Billiard Avenue dress circle.
It was sold for $15 million by fund manager Michael Hill after having $14 million hopes.
<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/2019/11/7/BKH%20Elizabeth%20Bay.jpg" alt="">
The apartment, atop the Burley Katon Halliday-designed block, dates back two decades. It has five bedrooms and six bathrooms across its 425 square metres of internal space.
It features 375 square metres of wrap around balconies and terraces.
The development was completed in the late 1990s after East Asia Property Group paid $8.5 million for Cardigan, the waterfront mansion of solicitor Cedric Symonds and his socialite wife Elizabeth.
They knocked down the home in 1996 and replaced it with a six apartment development with a pool and private jetty.
The Elizabeth Bay penthouse atop Darnley Hall fetched $9.75 million earlier this year when bought by Cyber security boss Mark Dowd and wife Olivia Ross.
</body></html>

$1 million discount secures Elizabeth Bay penthouse sale

<html><body>
Across the majority of the Clarence Valley region, yields are seen to play a relatively minor, albeit stable, role in residential investment decisions, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the country to dissect where to find best returns in residential markets. 
The report notes beachside localities such as Yamba show particularly responsive seasonal yield changes and appeal to investors.
High summer or peak returns on capital investment remain far above that of the regions average for short term holiday rentals while in terms of long term rentals, there is a plethora of tenants seeking low maintenance, central, beachside rentals.
Further south and at the lower end of the spectrum, the number of recent sales of sub-$500,000 duplex or multi-unit flat buildings in Grafton has seen an increase.
With a traditionally high percentage of tenants versus owner- occupiers, Grafton comfortably fits within most yield investor checklists.
"Across the board, tenant demand remains particularly driven by condition or quality and proximity to infrastructure or amenities in the Clarence Valley," the valuation firm said. 
</body></html>

Clarence Valley beachside localities show responsive seasonal yield changes: HTW residential 

<html><body>
Given that residential rent levels in most regional centres and towns have improved over the past 12 months, common sense would indicate that the gross yields for residential property in the regional areas of Casino and Kyogle would be somewhat higher than the more expensive properties located on the coast, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the nation to dissect where to find the best returns in residential market.
"Quite simply, the price level of residential housing (dwellings or units) in a regional area is generally going to be at a significantly lower base compared to a similar house type in a coastal area which helps the conversion of the rental into a higher gross yield (before expenses and debt servicing)," the valuation firm said. 
For example, imagine a four-bedroom, two-bathroom, modern brick clad dwelling with a double garage in Casino on a 700 square metre site with a value of between $400,000 and $450,000 and a rental value of around $450 to $500 per week.
This translates to a gross yield of approximately 5.5% for a single dwelling (based on a 50 week rental period with an allowance of two weeks vacancy).
"Get yourself a functional teleportation machine and convert those said improvements into an energy pattern (a process called dematerialisation) and beam them onto a similar sized parcel of land about 50 kilometres to the east coast near say Ballina or East Ballina. 
"From there, expect the price level for similar improvements to have a market value of around $700,000 to $750,000," the valuation firm added. 
Rental levels are tipped to be around $600 to $650 per week, thereby, translating to a gross yield of closer to 4.25%.
The figures sound even more tempting when considering that the demand for rental accommodation in Casino and Kyogle is relatively strong for properties at the lower end of the market value range.
There is always a need for accommodation and it is generally at the base or lower level of the market value range where we can see a boost to the gross yield rate, the report noted. 
There are examples of residential dwellings in Casino and Kyogle where the market value of the detached dwellings on a standard house site under $225,000 can fetch market rental rates of around $275 to $300 per week. This translates to a gross yield of around six to 6.50%.
Similar gross yield rates can be achieved by two- bedroom, one-bathroom, attached units with a single carport or garage, particularly within close proximity of the CBD in Casino or Kyogle – a favourite for the older generation tenant needing to be close to town services.
"Well...doesn’t that sound like a property investor’s dream come true! Especially when term deposit rates at the bank are at an all-time low (think 1.5% to 2%) and fixed mortgage rates are hovering around the mid-3%.
"However, within these regional areas such as Casino and Kyogle, the trade-off for reasonable gross yield rates is that capital gain is not expected to be overly significant within a short term time frame," the valuation firm said. 
It really needs to be a long term vision of possibly 10-plus years to see some significant capital gain.
Otherwise, if the property offers some added opportunity such as subdivision of excess land to create an additional lot or a revamp of the internal layout of a house or unit to create an additional bedroom in order to improve the property’s appeal and market value, then some capital gain could be realised in a shorter time frame.
In such circumstances, by selling excess land as a separate lot or title, the net proceeds could be used to reduce the overall principal debt which in turn reduces the overall outgoings and ultimately produces a better net yield for the remaining house on a smaller lot.
"What’s a net yield? Ah yes, the gross yield is the gross rental divided by the purchase or sale price, whereas the net yield is the gross income less all outgoings such as rates, insurance, water, sewerage and property management divided by the purchase or sale price. 
"That is the true test of investment attractiveness. If the net yield is higher than other investment vehicles, then this would seem appealing," the valuation firm said. 
However, this does not consider the effect of debt servicing.
Allowing for an 80% lend, the debt servicing associated with a principal and interest loan whittles down the net yield pretty quickly.
It really only benefits the high net worth individual who needs no loan and has a lazy $500,000 or more to park in real estate while the share market has a few shivers and the bank term deposits are barely two per cent.
"The situation does become slightly more attractive where the gross and net yields for a block of flats or units are higher than a detached house or a single unit," the valuation firm stated. 
A good example is for a block of five units on one title in Casino which recently sold for $700,000 with a gross rental of $50,000 per annum. This translates to 7.14% gross which would be around 5.5% net yield after outgoings.
However, once again, that does not include the effect of debt servicing. So, for an investor relying on an 80% lend to purchase the property, there would be the high likelihood that there would be a shortfall to be met, i.e. the rent would not cover all outgoings and debt servicing.
The cashed up investor would be much better placed to take advantage of these opportunities.
"In summary, if you are hunting for yields, consider it from a long-term perspective and be prepared to cover some of the shortfall out of your own pocket if debt servicing is required," the valuation firm concluded. 
</body></html>

Gross yields in Casino and Kyogle regional areas higher than expensive coastal properties: HTW residential 

<html><body>
Melbourne’s outer south-eastern suburbs continue to prove to be a popular region amongst buyers, according to the latest Herron Todd White (HTW) residential report. 
It's particularly the case for newly settled migrant families, young couples and first home buyers who are taking advantage of the affordable land prices in areas of the Casey and Cardinia districts.
The valuation firm took a look at rental yield across the country to dissect where to find the best returns in their residential markets.
The report suggests there are many estates to choose from in these fast-developing areas.
"House and land packages are attractive for first home buyers and young families as they allow flexibility in designing their own home to cater to their individual needs," the valuation firm said. 
In the ever-expanding Cardinia Shire municipality, the median house price is $552,385 and $396,469 for a unit respectively, according to Corelogic.
In recent years, Pakenham has become a major growth area for the outer south-eastern suburbs of Melbourne appealing to young families with its proximity to parks, shopping retail outlets, schools and child care centres.
In the suburb of Pakenham, statistics show that houses are priced at an average of $485,000, generating a weekly rent of $360 per week, yielding at a rate of 3.5% to 4%.
The HTW report provides two examples, including a house and a unit. 
A single storey house at<a href="https://www.realestate.com.au/sold/property-house-vic-pakenham-131806650" target="_blank"> 16 Jacaranda Way, Pakenham</a> (pictured below) has recently been sold for $595,000.
Set on a 645 square metre block, the house comprises four bedrooms plus study, two living areas, two bathrooms, double garage and alfresco.
The home is close to Heritage Springs shopping centre, primary school and Hippity Hop Child Care centre.
<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/2019/10/16/pakenham%201.jpg" alt="">
A three bedroom unit at<a href="https://www.realestate.com.au/sold/property-unit-vic-pakenham-131609490" target="_blank"> 2/16-20 Honeysuckle Close, Pakenham</a> (pictured below) has been sold for $437,000.
The 174 square metre home comprises three bedrooms, two bathrooms, outdoor entertaining area and single car space. 
Overlooking parkland, the unit is within walking distance from the lakeside shops.
<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/2019/10/16/pakenham%202.jpg" alt="">
"Whilst the rental yields in the outer south-eastern suburbs may not be as high as properties in the CBD and inner suburbs, homeowners and investors can experience an average annual capital growth of 9.3% a year for houses and 14.49% for units in these growth corridor areas," the valuation firm said, 
"This just shows that different investors have different strategies when it comes to investing in property and it all comes down to the individual’s end goal as some may look for properties that generate high yields and others look for higher capital growth."
</body></html>

Melbourne South Eastern suburbs tipped for 9.3% annual capital growth: HTW residential 

<html><body>
NAB's latest profit result showed a slowdown in the bank's home loan growth.
Its chief executive Phil Chronican called it out as a key weak spot, although there is some better activity coming through from the housing market recovery, with mortgage applications jumping 18 percent in recent weeks.
"This year has been very challenging, requiring significant actions for us to deal with past issues and make real changes aimed at earning trust with customers and the community," Mr Chronican said.
The results showed NAB's housing portfolio contracted in the September quarter.
There was also a small contraction in its net interest margin (NIM), which compares the cost of funds with what it charges for loans.
“Home loan growth in Australia is clearly an area of disappointment for us,” Mr Chronican said.
<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/2019/11/7/NAB%20lending.jpg" alt="">
Impaired loans more than 90 days behind in repayments rose, due to rising mortgage delinquencies.
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
The ratio of 90+ days past due and gross impaired assets to gross loans and acceptances increased 22bps to 0.93 percent.
</div>
</div>
</div>
</div>
National Australia Bank announced a full-year net profit of $4.8 billion, down 13.6 per cent on 2018, slightly below market expectations.
NAB has followed its rivals in slashing its final dividend, with shareholders to receive a fully franked 83 cents, down from 99 cents last year.
It noted over-the-counter branch transactions are down 30 percent.
Its call centre volumes are down 17 percent.
</body></html>

NAB reports "disappointing" home loan growth 

<html><body>
A top floor penthouse located within a boutique duplex in South Yarra has hit the market for the first time in 30 years.
It has been listed for sale with a price guide between $3 million to $3.25 million.
Positioned high on South Yarra Hill, the apartment at <a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-132205506" target="_blank">2/63 Murphy Street </a>comprises three bedrooms, north-facing living room, kitchen, 2.5 bathrooms and study.
A separate west-facing dining room is wrapped in windows with views of the complex’s surrounding Paul Bangay designed gardens.
Both the dining zone and separate study extend to a private entertaining terrace.
<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/2019/10/23/south%20yarra%202.jpg" alt="">
The three bedroom accommodation is set in a private wing.
The main bedroom suite comes with wardrobes, travertine ensuite and balcony overlooking leafy Murphy Street.
<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/2019/10/23/south%20yarra%203.jpg" alt="">
Other features of the penthouse include central heating and air conditioning, powder room, laundry, large storeroom and two car garage.
The property is situated within a stroll of the Yarra River, Toorak Road, Fawkner Park and the Royal Botanic Gardens.
Nicole Gleeson and Nicky Rowe of Kay &amp; Burton have the listing. 
</body></html>

South Yarra top-floor duplex penthouse on market for the first time in 30 years

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News