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Rent.com.au has compiled a report based on property leasing data from the month of January.
It illustrates the shift in median rental property prices (both metro and regional), rental affordability (the median room price metric) and the luxury property measure, evaluating change in days on market for properties above $1,000/pw.
Metro Rents
The average metropolitan rent across Australia spiked up 2.38 per cent at $430/pw in January.
Canberra and Hobart metro areas were the only two states to record a decrease in median rent, while all but two of the remaining capitals saw an increase in the month.
An 8.24 per cent increase in asking median rents in Darwin was the sharpest rise across the country, contrasted by a similar decline in prices (7.89 per cent) in Hobart metro.
Darwin’s price rise to $460/pw makes the Northern Territory capital the second most expensive for house hunters.
Darwin sits just under Sydney in New South Wales, continuing its rank as the most expensive city for Australian renters; median rents stayed consistent at $550/pw in January.
Sydney’s asking rents are comparable to the country’s most affordable city in January, Adelaide ($350/pw).
Considering the rental affordability measure, price per room (PPR); Sydney also topped the ranking at $267/pw (up 2.56 per cent on December 2016).
Meanwhile Perth metro was the most affordable capital city for renters – a median price per room of $127/pw (up 1.33 per cent), putting Adelaide at a close second ($133/pw, up 1.92 per cent).
By looking at dwelling type, Sydney’s property makeup continued to skew towards apartments, comprising 69 per cent, while Perth’s property makeup in January was 75 per cent houses.
<table border="1" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td colspan="5" valign="top" width="291">
Change in median rent and price per room as at 31 January 2017
</td>
</tr>
<tr>
<td valign="top" width="102">
LOCATIONS
</td>
<td valign="top" width="45">
Median rent
</td>
<td valign="top" width="45">
Monthly change
</td>
<td valign="top" width="54">
Price per room
</td>
<td valign="top" width="45">
Monthly change
</td>
</tr>
<tr>
<td valign="top" width="102">
Sydney metro
</td>
<td valign="top" width="45">
$550/pw
</td>
<td valign="top" width="45">
0%
</td>
<td valign="top" width="54">
$267
</td>
<td valign="top" width="45">
↑2.56%
</td>
</tr>
<tr>
<td valign="top" width="102">
Brisbane metro
</td>
<td valign="top" width="45">
$420/pw
</td>
<td valign="top" width="45">
↑2.44%
</td>
<td valign="top" width="54">
$167
</td>
<td valign="top" width="45">
↑4.67%
</td>
</tr>
<tr>
<td valign="top" width="102">
Melbourne metro
</td>
<td valign="top" width="45">
$400/pw
</td>
<td valign="top" width="45">
↑2.56%
</td>
<td valign="top" width="54">
$170
</td>
<td valign="top" width="45">
↑6.25%
</td>
</tr>
<tr>
<td valign="top" width="102">
Perth metro
</td>
<td valign="top" width="45">
$360/pw
</td>
<td valign="top" width="45">
↑2.86%
</td>
<td valign="top" width="54">
$127
</td>
<td valign="top" width="45">
↑1.33%
</td>
</tr>
<tr>
<td valign="top" width="102">
Adelaide metro
</td>
<td valign="top" width="45">
$350/pw
</td>
<td valign="top" width="45">
↑2.94%
</td>
<td valign="top" width="54">
$133
</td>
<td valign="top" width="45">
↑1.92%
</td>
</tr>
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<td valign="top" width="102">
Canberra metro
</td>
<td valign="top" width="45">
$450/pw
</td>
<td valign="top" width="45">
↓2.17%
</td>
<td valign="top" width="54">
$197
</td>
<td valign="top" width="45">
↑3.51%
</td>
</tr>
<tr>
<td valign="top" width="102">
Darwin metro
</td>
<td valign="top" width="45">
$460/pw
</td>
<td valign="top" width="45">
↑8.24%
</td>
<td valign="top" width="54">
$167
</td>
<td valign="top" width="45">
↓1.96%
</td>
</tr>
<tr>
<td valign="top" width="102">
Hobart metro
</td>
<td valign="top" width="45">
$350/pw
</td>
<td valign="top" width="45">
↓7.89%
</td>
<td valign="top" width="54">
$163
</td>
<td valign="top" width="45">
↑8.33%
</td>
</tr>
<tr>
<td valign="top" width="102">
Regionals (combined)
</td>
<td valign="top" width="45">
$340/pw
</td>
<td valign="top" width="45">
0%
</td>
<td colspan="2" valign="top" width="99">
 
</td>
</tr>
<tr>
<td valign="top" width="102">
National
</td>
<td valign="top" width="45">
$430/pw
</td>
<td valign="top" width="45">
↑2.38%
</td>
<td valign="top" width="54">
 
</td>
<td valign="top" width="45">
 
</td>
</tr>
</tbody></table>
 
 
 
 
 
 
 
 
Regional Rents
At a regional level, Tasmania and Western Australia were the only Australian states to record a decrease in median rent from December 2016 to January, down 1.89 per cent and 3.03 per cent respectively.
Median rents increased across the regions in the Northern Territory (up 9.76 per cent), South Australia (up 2 per cent) and Queensland (up 1.52 per cent).
Rents remained healthy in Australian Capital Territory ($450/pw), New South Wales ($380/pw) and Victoria ($280/pw), with no price changes recorded, consistent with records in December last year.
SA was once again the state with the cheapest regional rentals, with a median rent for the state of $255/pw (up 2 per cent).
Looking at dwelling type, regional houses in NT experienced the highest increase in median rent overall (up 8.89 per cent to $490/pw) and TAS houses up 9.09 per cent to $210/pw.
Conversely, the cost of regional houses in ACT dropped 6.09 per cent to $463/pw. WA, however, was the only state to record a decrease in the price of apartments, down 3.57 per cent to $270/pw.
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j.ballantyne1990-6AQqhLzZaK

Average metropolitan rental income sits at $430 a week for landlords

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Whitsundays has a balanced housing market, according to Herron Todd White’s latest report.
The property valuation firm says that Whitsundays has a tightening rental vacancy trend with a fair demand for new houses.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.59.37%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.59.37%20am.jpg" alt="">
This is supported by a steady trend of new houses being constructed as well as demand for new housing.
Whitsundays' housing market is starting to recover although new properties are almost never sold at prices that exceed their potential resale value.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-124269270" target="_blank">3264 Shute Harbour Road</a>, Whitsundays (above) is currently listed for $2,000,000.
A seven bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-121901782" target="_blank">383 Mandalay Road</a>, Whitsundays (below) is currently listed for sale.
<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/2017/02/14/383%20Mandalay%20Road.jpg" alt="">
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Whitsundays' housing market balanced: HTW

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The nascent Real Housewives of Sydney star Krissy Marsh has listed her luxury Dover Heights home with $8 million hopes through McGrath Estate Agents.
The former Queensland model paid $1,975,000 in 2003 has apparantly been dubbed the "Property Princess" on the show which launches later this month.
<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/2017/02/16/Dover%20Height-1.jpg" alt="">
Architects Mackenzie Pronk designed <a href="https://www.domain.com.au/35-military-road-dover-heights-nsw-2030-2013375652" target="_blank">the six bedroom entertainer </a>with interiors from Make Creative's Antonia Pesenti.
The four level home now comes with a gym, cinema, heated plunge pool and a rooftop 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/2017/02/16/Dover%20Height-2.jpg" alt="">
Marsh has suggested she and husband John only want to live in the east. 
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Real Housewives of Sydney star Krissy Marsh lists in Dover Heights

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A Chinese investor has bought a fully leased dental clinic at Moorabbin for $4.8 million on a 6 per cent yield, in a deal brokered by Savills' Clinton Baxter and Julian Heatherich.
The single level, <a href="https://www.realcommercial.com.au/property-retail-vic-moorabbin-502166194" target="_blank">402 South Road</a> property comprises a fully refurbished building with a brand new state-of-the-art fit-out on a 647 sqm corner, Activity Centre zoned site.
It has two street frontages. 
Baxter said the property was sold with a 10-year lease with options to global healthcare group Bupa at a current net annual rental of $287,596.
He said the clinic had been operating for nearly 70 years over which time it had established a huge client base.
"The fact that the property was fully let to an international tenant on a long term lease and that the premises’ fit-out was state-of-the-art, made this a must consider for private investors and the result reflected that,’’ Baxter said.
Heatherich said demand for such investments was at an all-time high with the huge volume of investment sales over the last few years resulting in a diminishing number of opportunities.
The vendor was a local private investor.
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Chinese investor pays $4.8 million for Moorabbin clinic through Savills

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Melbourne’s CBD retail core has continued its overall downward trend recording a vacancy rate of just 3.3 percent in 2016 according to research from Savills.
Research from Savills found a moderate rise of 0.7 percent on the previous year’s figure but well below the 5.2 percent, five year average.
The survey of CBD Core &amp; Swanston Street Precinct found there were just 39 vacancies among the 1181 shops which are dominated by Clothing, Footwear &amp; Personal Accessories stores (492) and Cafes, Restaurants &amp; Takeaway Food Services (281).
The number of shops grew from 1132 to 1181 over the 12 months, largely due to the opening of St Collins Lane.
Notable debutants to CBD trading included Debenhams which will open its first Australian flagship store (4000 sqm) at St Collins Lane in September, joining  L'Agent, Kooples and Zadig &amp; Voltaire.
Meanwhile Sandro and Maje, Folli Follie and REISS, Coach, TAG Heuer and Furla have also opened up to trade at the refurbished city centre.
Elsewhere US based footwear retailer, Foot Locker, leased a prime 600 square metre Bourke Street Mall premises, Michael Hill Jewellers leased 69sqm on the corner of Bourke and Swanston streets.
Viva Hair leased 142sqm at 147-149 Russell Street, Connect Hearing leased 124sqm at Centrepoint, and  Sushi Hub continued its CBD expansion with a 26 Elizabeth Street lease (all Savills leases).
The data which paints a relatively positive picture of CBD retailing reflects growing CBD and worker populations,
This has driven a significant rise in service and hospitality based retail in recent years, as well as recent ABS data indicating growth in Victorian retail trade and a household move away from saving to spending.
ABS retail trade (seasonally adjusted) data revealed Victorian retail trade grew by 4.12 per cent in 2016, above the national average growth of 3.45 per cent.
Meanwhile the household savings ratio has been in +6 percent territory over the past year - its lowest level since the GFC - indicating households budgets have begun a shift away from saving to spending.
Monica Mondkar, Savills’ associate director research and consultancy, said Melbourne’s CBD core retail had weathered an apparent downturn in retailing surprisingly well given static wages growth and moderate levels of consumer confidence.
"Melbourne’s CBD has undoubtedly been a good performer in recent times with vacancy characteristic of periods of stronger economic growth and certainty," she said.
"But what may seem outwardly as anomalous growth has some key underpinnings that more than adequately explain its status.
"There has been an apartment boom in Melbourne over several years which has significantly increased CBD and environs residential populations,
"Meanwhile latterly a stronger office leasing market has also increased white collar employment and hence worker population, and of course a resurgence in student numbers has also been important.
"When you consider that the dominant CBD retail sectors are hospitality, food, and service sector related, it’s clear that population growth factors have been the key driver of CBD retail."
Ms Mondkar said the continued influx of high profile global fashion brands and the attraction of modern retail hubs was also attractive to both tourists and Melbourne’s suburban population.
"The number of new and refurbished retail precincts and the continuation of the influx of high profile global brands has no doubt accounted for a significant part of the increase in spending, attracting thousands of new shoppers to the CBD," she said.
"With the resident population alone expected to grow by 14 per cent by 2020 we are going to see the vacancy rate remain low over the medium term."
 
<table class="GridTable7ColorfulAccent1" style="width: 468px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="155">
CBD Core Tenancy Mix 
</td>
<td valign="top" width="86">
       2012
</td>
<td valign="top" width="86">
       2016
</td>
<td valign="top" width="79">
2017
</td>
<td valign="top" width="63">
5 year change
</td>
</tr>
<tr>
<td valign="top" width="155">
Cafes, Restaurants &amp; Takeaway Food Services
</td>
<td valign="top" width="86">
       251
</td>
<td valign="top" width="86">
         281
</td>
<td valign="top" width="79">
282
</td>
<td valign="top" width="63">
   +12.4%
</td>
</tr>
<tr>
<td valign="top" width="155">
Clothing, Footwear &amp; Personal Accessory
</td>
<td valign="top" width="86">
       420
</td>
<td valign="top" width="86">
         466
</td>
<td valign="top" width="79">
492
</td>
<td valign="top" width="63">
+17.1%
</td>
</tr>
<tr>
<td valign="top" width="155">
Department Stores
</td>
<td valign="top" width="86">
          7
</td>
<td valign="top" width="86">
             7
</td>
<td valign="top" width="79">
7
</td>
<td valign="top" width="63">
       -
</td>
</tr>
<tr>
<td valign="top" width="155">
Food 
</td>
<td valign="top" width="86">
         34
</td>
<td valign="top" width="86">
           48
</td>
<td valign="top" width="79">
48
</td>
<td valign="top" width="63">
   +41.2%
</td>
</tr>
<tr>
<td valign="top" width="155">
Household Goods
</td>
<td valign="top" width="86">
         58
</td>
<td valign="top" width="86">
           51
</td>
<td valign="top" width="79">
51
</td>
<td valign="top" width="63">
   -12.1%
</td>
</tr>
<tr>
<td valign="top" width="155">
Services
</td>
<td valign="top" width="86">
       130
</td>
<td valign="top" width="86">
         141
</td>
<td valign="top" width="79">
151
</td>
<td valign="top" width="63">
   +16.2%
</td>
</tr>
<tr>
<td valign="top" width="155">
Other
</td>
<td valign="top" width="86">
       102
</td>
<td valign="top" width="86">
         108
</td>
<td valign="top" width="79">
112
</td>
<td valign="top" width="63">
   +9.8%
</td>
</tr>
<tr>
<td valign="top" width="155">
Vacant 
</td>
<td valign="top" width="86">
         75
</td>
<td valign="top" width="86">
           29
</td>
<td valign="top" width="79">
39
</td>
<td valign="top" width="63">
   -48%
</td>
</tr>
<tr>
<td valign="top" width="155">
Vacancy Factor
</td>
<td valign="top" width="86">
         7%
</td>
<td valign="top" width="86">
          2.6%
</td>
<td valign="top" width="79">
3.3%
</td>
<td valign="top" width="63">
   -3.7%
</td>
</tr>
</tbody></table>
Source: Savills Research 
Ms Mondkar said the demographic change - which reflected a cultural shift with Melburnians, once wedded firmly to the suburban quarter acre block.
"It is now showing a definite penchant for inner-city apartments, fashion, education sector growth and tourism would continue to bolster the coffers of CBD retailers," she said.
"Apartment living is a development which is here to stay and that will continue to be a key driver in the make-up of CBD retail.
"At the same time Melbourne remains the fashion capital and is also firmly on the radar with tourist shoppers and students and those factors will continue to drive the CBD market for the foreseeable future.".   
The survey found little movement in rents which now range between $1500 a square metre, for CBD shopping centre space, to circa $11,000 a square metre for prime space on Bourke Street Mall.  
<table class="GridTable7ColorfulAccent1" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="220">
CBD Retail Rents (Gross $sqm) 
Shop sizes: 50 -150 sqm
</td>
<td valign="top" width="92">
       Low 
</td>
<td valign="top" width="156">
      High
</td>
</tr>
<tr>
<td valign="top" width="220">
Laneways/Arcades
</td>
<td valign="top" width="92">
       1800
</td>
<td valign="top" width="156">
       3500
</td>
</tr>
<tr>
<td valign="top" width="220">
CBD Shopping Centres
</td>
<td valign="top" width="92">
       1500
</td>
<td valign="top" width="156">
       3000
</td>
</tr>
<tr>
<td valign="top" width="220">
 CBD core retail shopfronts  
(excluding Bourke St Mall)
</td>
<td valign="top" width="92">
       3000
</td>
<td valign="top" width="156">
       6000
</td>
</tr>
<tr>
<td valign="top" width="220">
Bourke St Mall
</td>
<td valign="top" width="92">
       9000
</td>
<td valign="top" width="156">
       11,000
</td>
</tr>
</tbody></table>
Source: Savills Research Two levels, numbers seven and nine, are currently up for lease through Savills on the south eastern corner of Queen and Collins Streets in <a href="https://commercialpropertysearch.savills.com.au/7cb45e7e-52c7-e611-80c4-005056816dfc/Lease/Melbourne/379-Collins-Street" target="_blank">379 Collins Street</a> (pictured above).
A combined total area of 2954.10sqm is available at a cost of $116.00 per sqm per annum.
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Retail vacancies down 37 percent on post GFC high

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The latest research from Melbourne Cityscope shows that commercial property sales in the CBD have risen in both number and total sales value, according to CoreLogic’s Cityscope.
The property data firm says that for the three months to December 2016 there were 81 sales for a total of $1.170 billion.
For the quarter to September 2016, there were 75 sales at a total value of $1.05 billion, compared to 64 sales at a total value of $504.6 million for the previous quarter.
The yearly figures have fallen considerably, however, with 297 sales at a total value of $3.525 billion for the twelve months to December 2016, compared to 336 sales at a total value of $5.905 billion for the previous year.
The table below shows sales recorded for the past eight updates of Melbourne Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/25/Melbourne-1.jpeg">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/25/Melbourne-1.jpeg" alt="">
Notable sales listed in the December 2016 update of Melbourne Cityscope include:
<ul>
<li>376 -390 Collins Street, Melbourne, the 34-storey ANZ World Headquarters including three historic buildings with a building area of 30,000 sqm total was bought for $274.5 million through CBRE Melbourne and Knight Frank Melbourne;</li>
<li>St Collins Lane, at 260 Collins Street, Melbourne, a boutique retail precinct of four levels of retail space with over 60 stores, which was bought for $247 million through JLL Melbourne and</li>
<li>114 William Street, Melbourne, an office building of 23 storeys, two basements (with a 106-space car park) and a paved pedestrian plaza, which was bought for $161.5 million through Colliers International Melbourne.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/25/Melbourne-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/25/Melbourne-2.jpeg" alt="">
Properties listed as being for sale in the December 2016 update of Melbourne Cityscope include:
<ul>
<li>Askew House, 364-372 Lonsdale Street, Melbourne, a six-storey concrete office building with three ground-floor showrooms, built 1937 and available through Colliers International and Hocking Stuart Commercial;</li>
<li>Bourke House, 179 Bourke Street, Melbourne, a six-storey concrete building with five street-level shops available through Gross Waddell and CBRE Melbourne and</li>
<li>9-27 Downie Street, Melbourne, a two-storey brick building consisting of first-floor offices above five double garages, available through Colliers International.</li>
</ul>
Leasing opportunities listed in December 2016 update of Melbourne Cityscope include:
<ul>
<li>440 Elizabeth Street, Melbourne, an 11-storey office building with five showrooms to Elizabeth Street, which has office space of 1,047 to 2,711 sqm for lease through Teska Carson;</li>
<li>333 Exhibition Street, Melbourne, an 18-storey building with a 705-space car park, which has office space of up to 6,003 sqm for lease through Colliers International; and</li>
<li>15W, at 15 William Street, Melbourne, an A-grade 20-level office building with a two-storey retail and car park extension for 300 car spaces, which has office space of 490 to 12,000 sqm for lease through CBRE Melbourne and JLL Melbourne.</li>
</ul>
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Melbourne commercial sales rises in both listings and sales value: Cityscope

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Immigration Minister Peter Dutton and wife Kirilly have paid $760,000 for a commercial investment property in Townsville.
He's bought three retails spaces in <a href="https://www.realcommercial.com.au/property-retail-qld-wulguru-501840974" target="_blank">Edison Plaza</a>, a retail shopping centre in Wulguru.
He's sought tenants for all three spaces.
The property came with $1.1 million price hopes and had been on the market for over 500 days.
<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/2017/02/14/Peter1.jpg" alt="" width="514" height="228">
Elders Real Estate Townsville agent Glenm Adair sold the property.
The investment property takes his total portfolio up to five rental properties.
The most notable is the four bedder at Queensland's Palm Beach that cost the couple $2.3 million early last year.
They have two properties in the Sunshine State and another in Canberra. They live at Camp Mountain, north-west of Brisbane.
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Immigration Minister Peter Dutton buys Townsville retail investment property

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Property developer Villa World has noted profitable half-year financial results, pushing an upgrade to their full-year guidance.
Full year guidance has been amended to an after tax profit of $37.5 million, showing growth of 11 percent over FY16 ($33.7 million).
Half-year statutory net profit after tax was noted at $19.6 million (17.4 cps), compared to a net profit after tax of $20.4 million (18.5 cps) for the half year to 31 December 2015.
Villa World gave half-year guidance in the range of $19.5 - 21.4 million, released on 6 December 2016, with sales of Victorian land and housing projects carried forward into 2H17.
Craig Treasure, Villa World managing director and chief executive officer said Villa World was primed for a strong end-of-year result, off the back of a 35 percent increase in half-year sales (1H17: 673 sales; 1H16: 497) and around $192 million in carried forward sales contracts.
"Around 86 percent of those contracts (479 lots valued at $161 million) are expected to settle in 2H17, with the balance settling in FY18," he said.
"The Board anticipates paying total dividends of 18.5 cents per share fully franked in FY17, representing a yield of 7.7 percent.
"Villa World was well placed to outstrip its FY16 sales performance and achieve at least 1,185 sales.
“The strength of the Queensland housing market, particularly in the Brisbane-Gold Coast corridor and similar growth corridors around Melbourne and Sydney, is continuing to reap excellent results for Villa World.
"Queensland dominated the Company’s revenue gains, contributing 84 percent this half-year (1H16: 86 percent)."
"House and land products represent 66 percent of revenue (1H16: 76%).
“We continue to focus heavily on our core, being the retail market comprising owner occupiers including first home buyers, as well as builders and predominantly local investors.
“These market segments are holding up very well leading us to anticipate steady growth in both sales volumes and price point as we look ahead to the remainder of FY17 and into FY18.
We are looking forward to releasing new flagship projects at Killara, in Logan, and Arundel Springs, on the Gold Coast, and expect strong market conditions will continue to drive sales.”
He said Villa World would continue to consolidate its growth base in Queensland as well as diversify its profile across Victoria and New South Wales.
“We are continuing to replenish land stock through strategic purchases in proven growth corridors and take advantage of opportunities to diversify our geographic footprint along the east coast,” he said.
In the half year to 31 December 2016, Villa World acquired 1,496 lots for a total portfolio of 6,386 lots.
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Villa World eyes Logan and Gold Coast to stoke further house and land sales revenue growth

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ASIC has cancelled the Australian Financial Services (AFS) licence of Sovereign MF Ltd (in liquidation) ACN 104 964 555 (Sovereign).
Sovereign is the responsible entity for The Sovereign Tarneit Land Fund and The Sovereign Aged Care Property Fund (the Schemes).
Sovereign was placed into liquidation on 24 May 2013 following a creditors' resolution on the basis that Sovereign was insolvent.
The liquidators are currently engaged in the final stages of winding up the Schemes.
The wind up has involved completing the residential development of the Westbourne Fields Estate in outer Melbourne and the realisation of all lots within the development.　
The cancellation is subject to a specification under section 915H of the Corporations Act that the AFS licence continues in effect as though the cancellation had not happened for a period of 24 months to allow the liquidators to provide financial services that are reasonably necessary or incidental to the winding up of the Schemes.
A period of 24 months is necessary to allow the liquidators to pay a number of bonds and retentions to statutory bodies which do not expire for another 18 months.
The AFS licence was cancelled on 8 February 2017.
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ASIC cancels the AFS licence of Sovereign Tarneit Land Fund

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A four bedroom home at Mount Dandenong has been listed for sale for $850,000.
Located at <a href="https://www.realestate.com.au/property-house-vic-mount+dandenong-123976786" target="_blank">217 Ridge Road,</a> the Oakridge has views of the gardens from all windows delivering the complete indoor-outdoor feeling.
The current floor plan includes a fireside sitting room, which is adjacent to the kitchen/meals on one side and the dining room on the other.
The country style kitchen features a Belling upright cooker alongside a gas log fire and cosy breakfast nook as well as marble benchtops and bespoke cabinetry.
The formal entry provides direct access to the feature timber staircase and large reception area/library, which leads to two large bedrooms, a bathroom and sitting room.
<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/2017/01/22/217%20Ridge%20Road-2.jpg" alt="">
A lounge/rumpus room is upstairs and features an elevated sunny chill out area along with two more bedrooms, another bathroom and study.
Other features include double carport, classic working hand pup, brick veneer and abundant tank water for 80,000 litres.
A range of services such as transport options, cafes, restaurants and walking trails are within easy walking distance.
The property is offered through Bell Real Estate agents Ryan Bell and Ryan Bell.
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Mount Dandenong trophy home, the Oakridge, listed for sale

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Staff reporter

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