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An oversupply of properties is making it cheaper to rent in inner Melbourne and Sydney where advertised stock increased nearly 60 per cent between March and June, the latest ANZ CoreLogic Housing Affordability report shows.
Loss of income and travel restrictions contributed to excess stock levels which saw inner Melbourne record a 57 per cent increase in advertised rental properties while Sydney’s city and inner south both recorded a 53 per cent jump. All other capital cities saw a drop in total rental listings.
ANZ Economist Felicity Emmett said the fall in demand for rental properties in inner Melbourne and Sydney was due to their ‘service economies’, as people working in industries hardest hit by COVID-19 were also most likely to rent.
“Nearly 40 per cent of people who work in the accommodation and food services sectors rent,” Ms Emmett said. “Between the weeks ending 14 March and 27 June, 21% of hospitality workers lost their jobs, compared to an average of 6% across all industries.”
“The lack of overseas migration has also contributed to falling demand as about 80% of newly arrived migrants rent. This drop-off in demand will impact regions popular with migrants, including inner city and south-eastern Melbourne, and inner south west Sydney.”
The oversupply of inner city stock has pushed rental values down as much as 7 per cent in suburbs such as Haymarket and Barangaroo in Sydney and Southbank in Melbourne.
CoreLogic’s Head of Research, Eliza Owen, says while reduced competition for rental properties is good news for tenants looking to negotiate rent reductions, landlords shouldn’t panic.
“The oversupply of rental stock since March has been largely confined to inner city areas in Melbourne and Sydney, while all other capital cities have experienced a decline,” Ms Owen said.
“There are still opportunities for investors where rental markets have continued to tighten and rental values have increased, including select suburbs across Perth and Hobart where Airbnb stock may be reverted back to the short term rental market as inter-state travel resumes.”
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j.ballantyne1990-6AQqhLzZaK

Rents dip in inner Melbourne and Sydney amid record oversupply: ANZ

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Melbourne's preliminary weekend clearance rate was 44.1 per cent after 197 reported price results from the 483 scheduled auctions.
The tally included some 193 withdrawn from auction, Domain reported.
It was the second July weekend with the rate in the 40s after the return to lockdown across the capital city. 
There were 85 reported online Melbourne auctions, with 60 selling, which was the highest recorded success rate for online to date, Domain research analyst Nicola Powell advised.
Melbourne's top sale was <a href="https://www.realestate.com.au/sold/property-house-vic-kew-133806986" target="_blank">45 Walpole Street, Kew</a> (pictured) which fetched $4.21 million prior to its scheduled online auction.
Melbourne also saw a $3.67 million St Kilda West home.
The four-bedroom, two-bathroom house at 8 York Street was announced on the market at $3.5 million, by the Marshall White Stonnington agent John Bongiorno.
Sydney's preliminary clearance rate on Saturday was 64.6 per cent, after 471 scheduled auctions and 270 reported results. The rate included 77 withdrawn auctions.
The nation's cheapest was the $300,088 pre-auction sale at 15/38 Barrett St, Robertson. It had last sold from $80,000 in 1983.
Brisbane's top sale was just over $1 million when 43 Saint Helens Rd, Mitchelton was sold at $1.09 million.
Sydney’s highest sale was a four-bedroom, four-bathroom home in Vaucluse, on the market for the first time in 65-years.
It sold for $5,695,000 through Sydney Sotheby’s agent Michael Pallier.
There were five registered bidders for 61 Village High Road.
‘The buyer was a local but what drove the price was an expat in Singapore who had never seen the house and had a family member bidding for them. The third bidder, who bid up to $5.5 million, wanted to buy it for his 18-year-old daughter as a long-term hold. He looked at it an hour before the auction.," Pallier told Nine Entertainment.
Canberra had the country’s highest preliminary clearance rate of 90.6 per cent – reflecting the sale of 29 out of 32 reported auctions by CoreLogic.
 
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Melbourne auction weakness remains while Brisbane comes up the cheapest

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A five-bedroom, two-bathroom Clontarf hillside house has been sold for $2,765,000.
It sold through Cunninghams agents Mark Connor and Kylie Mousey earlier this month. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-clontarf-133854002" target="_blank">11 Kanangra Crescent </a>residence is set on a 726 sqm block.
It features an family home over two levels.
It offers harbour views from its alfresco dining areas and a pool. 
Cunningham Real Estate marketed the property's potential knock down.
The DA approved plans are for a 388 sqm residence with a pool. 
<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/2020/7/17/16_Clontarf%202.jpg" alt="">
The property last sold for $2.48 million in 2017. 
According to Realestate.com.au, 45 other five-bedroom houses recently sold in Clontarf. 
Similar houses recently sold in the area include a four-bedroom, two-bathroom home on Alma Street which sold for $2.51 million in April and a five-bedroom, four-bathroom home on Moore Street which sold for $3.2 million in March. 
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DA approved trophy home plans in Clontarf

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HIA has welcomed the announcement by the Federal Government of the $2 billion JobTrainer package, which includes an extension of the vital Supporting Apprentices and Trainees wage subsidy until March 2021.
“The Supporting Apprentices and Trainees wage subsidy was the first employment assistance package introduced by the Government as COVID-19 began to take hold. It was well targeted and critical to providing both employers and apprentices the certainty they needed in those early days of the crisis,” said HIA managing director Graham Wolfe.
“While the HomeBuilder incentive has underpinned activity in the second half of 2020, there are many hurdles for businesses into the months ahead.
“Moving early and confirming that apprentices will now be supported beyond the original September timeframe to March 2021 simply makes sense.
“Today’s announcement extends the subsidy to medium-sized businesses with less than 200 employees also giving them greater certainty.
“The partnership between the Federal Government and the States and Territories announced today, giving more Australians access to free, or low cost, training places in areas of identified skills needs through a $1 billion co-funded JobTrainer fund, is also a welcome move,” said Mr Wolfe.
“Undertaking training may be a practical option for many people. Whether that’s reskilling or upskilling, looking at the opportunity to take on a building apprenticeship now offers a chance for workers to enter new careers and be paid while they learn.
“HIA will monitor the new National Partnership Agreement that will facilitate this training opportunity and work with the National Skills Commission to ensure building and construction trades are recognised as critical areas for the future.” 
“While this subsidy will make a real difference to current apprentices and trainees, it is important to provide a clear signal to the school leavers’ class of 2020 that moving into an apprenticeship in 2021 is the right decision. HIA looks forward to working with the Government to identify ways to bring in new students in 2021 and showcase the wealth of opportunities that exist in our industry.”
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JobTrainer package provides certainty for apprentices: HIA

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A new 50-year vision for Greater Sydney’s network of parklands and green open spaces has been launched by the NSW Government, heralded by an initial $10 million investment to revitalise one of the city’s forgotten harbour-side parks.
Planning and Public Spaces minister Rob Stokes said <a href="https://www.planning.nsw.gov.au/-/media/Files/DPE/Strategy-documents/50-Year-Open-Space-and-Parklands-Vision-2020-07.pdf?la=en" target="_blank">the draft</a> vision, which is now open for public comment, puts NSW on a path to the first-ever metropolitan-wide plan for the city’s open spaces and parklands.
“Our city’s parks are one of our greatest assets and belong to all of us; it’s time for a clear, single vision to protect, manage, enhance and expand them for generations to come,” Mr Stokes said.
“The COVID-19 pandemic has highlighted how we need to change the way we look at our public spaces – not as parks in a city but rather as Sydney as a city within a park.”
The Vision will be championed by a new Greater Sydney Parklands (GSP) government agency that brings together the Centennial Park and Moore Park Trust, Parramatta Park Trust, and Western Sydney Parklands Trusts, as well as the parklands of Callan Park and Fernhill Estate. 
Michael Rose, Chairman of the Committee for Sydney, has been appointed the chair of GSP board.
“In the past, the individual parkland trusts have had a sole focus on the land within their boundaries. Now we have a once-in-a-generation opportunity to look beyond those boundaries to plan for our parklands and open spaces over the next 50 years as a connected and vital network that forms the backbone of our city,” Mr Stokes said.
“This new city-wide agency will work in partnership with communities and local councils across Greater Sydney to champion the new Vision and ensure we’re working holistically to expand and improve our open spaces and parklands.”
Combined, the agency will oversee more than 6,000 hectares of parklands across Sydney, which host almost 40 million visits each year.
Callan Park in Sydney’s inner west is the first park to be identified through the GSP
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for urgent restorative work, with $10 million in funding allocated to enhance the connection with the waterfront and Bay Run. A new Landscape Structure Plan has been released for public comment, which will inform how the funding is spent.
“This investment in Callan Park is just the start and demonstrates our committment to revitalising and growing our city’s great public open spaces, starting with one of its great forgotten jewels,” Mr Stokes said.
The draft 50-year vision for Greater Sydney’s Open Space and Parklands will be open for consultation until September 11, 2020.
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Callan Park first in 50-year vision for Sydney's open space and parklands renewal

<html><body>A COVID-induced spike in real estate enquiry has experts predicting a strong Whitsundays in the ‘new normal’. Reports across the country state city-dwellers are making a COVID-19-change and are trading their CBD cubicle for a remote office with room to enjoy tranquility. This newfound flexibility is believed to be behind the near-record number of online searches for Whitsunday property in recent months.  The lure of acreage seems to be the strongest, with leading real estate website <a href="http://domain.com.au/" target="_blank">Domain.com.au</a> experiencing a 507 per cent increase in searches for rural residential property in Cannonvale, and surrounding areas.  <a href="https://ecomms.raywhite.com/collect/click.aspx?u=V1I3c3ZNeXdEbDVDRmVndkZYMmJYT01wQzNoTU43Zk10SDRYRmRwZDB3QUdIb2k1M0RZNzZRK25pSWxLSXpSU0NJK0xDcnZJZlljMThnNFFMZEt1ckE9PQ==&amp;rh=ff006465a85cb54541341c264f419930d26ae172" target="_blank">Ray White Whitsunday</a> Sales Associate Brett Dwyer said he had been surprised by the increase in enquiry.  “It seems like anyone that has had the Whitsundays as their 'one-day' dream address has decided that now is the time to move, and the latest stimulus announcements have magnified this further,” Mr Dwyer said. <a href="https://ecomms.raywhite.com/collect/click.aspx?u=V1I3c3ZNeXdEbDVDRmVndkZYMmJYT01wQzNoTU43Zk10SDRYRmRwZDB3RGsyVUtad1h5clQ5dktQcnFTbGtrSzU4SnR4UC82dmkzamRXZ3k3UXZtWHc9PQ==&amp;rh=ff006465a85cb54541341c264f419930d26ae172" target="_blank">Hidden Valley Whitsundays</a>, a new estate outside of Cannonvale may well be the epicentre of new interest, receiving over $1.3 million of land offers in May alone.  Hidden Valley Project Manager Brett Evans was less surprised that southern eyes were looking north for an escape.  “I lived in the Whitsundays for years but I live in the city right now and I can tell you where I’d rather be when things get crazy. We all felt the walls closing in down here,” Mr Evans said. “After a few weeks of empty grocery shelves and being outsmarted by grade one home-schooling, we were definitely ready to hook the boat up and head north.”  With ten lots in the first stage of Hidden Valley sold to local buyers, it seems it’s not just the southern city-dwellers feeling claustrophobic. Locals are also looking for the security that comes with a few extra acres.  “The prospect of a more self-sufficient lifestyle and the security that comes with a few extra acres seem to be really strong motivators, which is understandable,” Mr Dwyer said. “Who hasn’t found themselves in lockdown staring at the neighbours’ fences on either side and thinking that a little extra space, a veggie garden and a few chickens sounds pretty good?”  Senior Analyst for <a href="https://ecomms.raywhite.com/collect/click.aspx?u=V1I3c3ZNeXdEbDVDRmVndkZYMmJYT01wQzNoTU43Zk10SDRYRmRwZDB3QUdIb2k1M0RZNzZWNkdQbFYzNnBuVktEOWJQZHIzaGVjYjV4Q0UwUkRxV0h1V2RROEp6eDRSWUlxNlIzZzljZUFwR2FjbmR2TFdtUT09&amp;rh=ff006465a85cb54541341c264f419930d26ae172" target="_blank">Ray White Northern Corridor Group</a>, Ashley Rees, said supply of quality acreage land could soon become an unexpected issue in the region.  “When the pandemic began, stock levels were already 14 per cent lower than they were at the same time last year,” Mr Rees said. “Add the new pressure of buyers cashing out of a strong southern market, to this renewed local demand, and we may soon find buyers struggling to find quality options.  “The Whitsundays has always offered an unbeatable lifestyle, but has been hamstrung by the lack of diverse employment options.  “For many it seems, the newfound acceptance of remote working in a post-lockdown world may have removed the last great barrier to living in this tropical playground.”</body></html>

Whitsundays proving to be a post-COVID-19 hotspot

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COVID-19 has affected everything from our work life, social life and our home life, leading to many of us making changes across one or more of these areas. Specifically, some empty nesters have found themselves back to running a full house with young adult children choosing to move home because of the pandemic.  
TAXIBOX, a mobile self-storage company has revealed the top suburbs across Sydney, Melbourne and Brisbane requiring storage, with locations popular amongst younger demographics such as Surry Hills, Paddington, Glebe, St Kilda and Woolloomooloo entering the list for 2020. With the pandemic leading to rising unemployment and many Australians, especially those in Melbourne who are re-entering lockdown and feeling the pinch – data indicates that the younger demographics (across all three states) are in the greatest need for storage.  
With the average cost of rent for a unit over 863 per cent higher than renting a TAXIBOX, Millennials that decide to pack up and store their possessions to move back in with mum and dad have the opportunity to save on average over $2,000/month (for Sydney dwellers) and over $1,500/month (for Melbourne and Brisbane residents).
 So what suburbs across the three states are in most need of storage solutions and how has this changed from 2019? Below are the top five locations across Sydney, Melbourne and Brisbane according to TAXIBOX data.  
Sydney 
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Bondi – 2026
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Bondi – 2026
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Surry Hills/Darlinghurst – 2010
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Newtown – 2042
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Paddington – 2021
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Maroubra – 2035
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Glebe – 2037
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Marrickville -2204
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Woolloomooloo - 2011
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Randwick - 2031
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Melbourne 
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Richmond - 3121
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Brunswick - 3056
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Clifton Hill - 3068
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Prahran - 3181
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St Kilda - 3182 
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Clifton Hill - 3068
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Brunswick - 3056
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Northcote - 3070
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Prahran - 3181
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Richmond - 3121
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Brisbane 
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West End – 4101
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West End – 4101
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Carina - 4152
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Carina – 4152
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Alderley - 4051 
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New Farm – 4005
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Corinda – 4075
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Morningside – 4170
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Nundah – 4012
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Kallangur - 4503
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Millennials move home and turn to storage lockers

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A new report by ING reveals almost half (46 per cent) of Aussie millennial home buyers say COVID-19 has made home ownership more achievable and a third (32 per cent) say they’ll buy a home within the next one to two years.
According to the report, millennials say they have used lockdown to get on top of their property goals by redirecting travel budgets to a home savings account (59 per cent), taking on a side hustle (37 per cent), and moving back in with their parents (36 per cent).
In order to save and buy a house sooner, half (50 per cent) of all millennial home buyers say they would consider living on the city fringes and the outer suburbs (45km or more from the city), the report found. More than one in five (22 per cent) say they plan to buy a smaller property in a cheaper area and rent it out until they can afford their forever home, while one in 10 (9 per cent) say they would consider buying a property with a friend or family member to get on the ladder quicker.
What’s more, millennials seem to be using different tactics and making significant lifestyle sacrifices to save for their future home. Almost half (48 per cent) say they will limit their personal shopping, reduce dining out experiences (42 per cent) and recreational drinking (28 per cent), give up their gym membership (21 per cent), and date less (24 per cent).
ING’s Head of Home Loans, Julie-Anne Bosich says: “What this research suggests millennials and Australians in general haven’t given up on the great Australian dream of owning their own home, they’re just re-thinking how they go about getting there and re-evaluating where they might want to live.”
“It suggests many people, especially millennials are being savvy by taking advantage of record low interest rates, government assistance and a weakened housing market to get on the property ladder.”
“The ING Future Focus: Homeownership report gives an overview of how the pandemic has changed how Aussies feel about their homes and home ownership and offers practical, money saving design tips for those wanting to make better use of space.”
Key findings from Future Focus: Homeownership Report include: 
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<li>The Australian Dream revived and re-defined: most millennial Aussies are setting their sights on owning one home (75 per cent), over flipping houses (8 per cent) and buying an investment property (10 per cent).<img src="blob:https://www.urban.com.au/069ff86b-b910-4d98-a3e4-46b67035260d" alt="page1image5863472" width="17.280000" height="0.480000">
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The new home ‘essentials’: Millennials looking to buy are prioritising fast internet (40 per cent), an outdoor space like a balcony, garden or patio (37 per cent) and space to exercise (27 per cent). They’re also buying for comfort (32 per cent), stability/security (21 per cent) and protecting their future (15 per cent).
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The home turned ‘Lifestyle Hub’: Since lockdown, a quarter of Aussies (30 per cent) say they now see their home as a ‘lifestyle hub’ and despite public spaces now open, many plan to continue exercising (39 per cent), dining (30 per cent), socialising (29 per cent) and working (25 per cent) more frequently at home.
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Buying property with a partner: Millennials (60 per cent) are notably more likely than Gen Z (41 per cent) or Gen X (35 per cent) to enter the property market with a partner, however one in five millennials (22 per cent) plan on doing it alone.
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Millennials set to take advantage of COVID weakened housing market: ING

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A building company has been fined $90,000 for breaching the Work Health and Safety Act 2011 after a worker suffered a fatal fall from scaffolding on a Lidcombe construction site.
Hadcon Constructions Pty Ltd was contracted to build a six-storey residential apartment at Lidcombe when the fatality occurred. Upon investigation, SafeWork NSW found the scaffolding had been altered since installation and was inadequately secured.
Minister for Better Regulation, Kevin Anderson, said his thoughts were with the worker’s family.
“This is a tragic incident and my thoughts are with the family. Incidents like this should not happen – everyone deserves to return home to their family at the end of the working day,” Mr Anderson said.
“When working from heights, safety measures and precautions must be strictly enforced, such as only allowing licensed scaffolders to erect, alter or dismantle scaffold.
“Far too often we see tradespeople who are not licensed scaffolders removing or altering parts of the scaffolding in the course of their work, compromising the integrity of the structure – this is how serious accidents can occur.”
The NSW Government recently launched the Speak Up, Save Lives app, which allows workers to anonymously submit dangerous activities on site directly to SafeWork NSW.
“The Speak Up, Save Lives App means workers can report issues before incidents occur. If you spot anything risky, play your part in protecting your own safety as well as that of your work mates by immediately reporting it to SafeWork.”
Following the NSW Government’s introduction of the strongest workplace legislation in the country earlier this month, anyone who puts workers’ lives at risk through unsafe work activities will receive heavy on-the-spot fines or potential jail time.
For more information on SafeWork’s operations and work health and safety advice, visitwww.safework.nsw.gov.au. Hadcon Constructions Pty Ltd has the right to appeal the decision.
Photo above: Scaffolding collapse at Macquarie Park last April/ <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-04-03/scaffolding-collapse-at-macquarie-park-1/10965318?nw=0" target="_blank">ABC</a>. 
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$90,000 fine for fatal scaffolding fall: NSW

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CBRE Hotels has reinforced its Capital Markets investment sales team with the appointment of former iPG Hotels director, Raymond Tran as director. 
Based in Sydney, Mr Tran brings over 23 years of experience in hotel operations, project management, asset management and investment sales working with a number of hotel brands including Minor Hotels, Choice Hotels International, Marriott International and Accor. 
CBRE Hotels Managing Director Michael Simpson said; “We are pleased to welcome Raymond to CBRE Hotels. He has an extensive track record and is well-known for his diverse experience and multi-faceted skill set.”
“Raymond is also regarded as the leading hotel market expert within the Asian real estate community in Australia.”
Mr Tran said; “I’ve been very fortunate throughout my experience to have a full view of the hotel industry working as a hotel operator, a broker and most recently on the ownership side.”
“I am very excited to be back working on the investment and brokerage side of the industry and thrilled to be part of the CBRE Hotels team,” he added. 
The CBRE Hotels team is the largest in the Pacific region, with representation in Sydney, Melbourne, Brisbane, Perth and Auckland.
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CBRE Hotels appoints Raymond Tran

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <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> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Staff reporter

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