<html><body>
Industrial tenants are seeking suburbs around the newly opened Dingley Bypass confirming predictions that the new $156 million link road would drive local economic growth.
Savills Director Industrial, Gareth Jackson, said in the 12 months to September 160,000 square metres of leases (1000sqm +) have been recorded while sales have been more than $42 million across the Dingley, Moorabbin, Cheltenham, and Braeside industrial precincts.
"The market’s reaction to the new road both before and after its opening has been phenomenal to say the least. Enquiry since the road opened has especially been strong.
In the last six months alone nearly 100,000 square metres of industrial space has been leased and sold and much of that can be attributed to the primary business rationale that had formerly lured tenants to other areas – improved road infrastructure,’’ Mr Jackson said.
<img src="/images/2016/10/26/Dingley%20Bypass%20aerial.jpg" alt="">
In the latest deals, brokered by Mr Jackson and Director Lynton Williams, an undisclosed tenant has leased a 12,660 square metre distribution centre at 41-51 Mills Road, Braeside while Global Trading solutions has leased 2951 square metres at 31-33 Lakewood Boulevard, Braeside.   
Other recent deals include:
<ul>
<li>355 Warrigal Rd Cheltenham – 1765 square metres;</li>
<li>354 Boundary Rd  Dingley– 2200 square metres; and,</li>
<li>13 Lennox Street Moorabbin – 1000 square metres.</li>
</ul>
The 6.4 kilometre, six lane, Dingley Bypass which links Warrigal Road at Moorabbin and Westall Road at Dingley Village was opened five months ahead of schedule in March, by Minister for Roads and Road Safety, Luke Donnellan, with the promise of reduced traffic delays and congestion and improved traffic flow on the road network with more direct road connections.
Mr Jackson said the Dingley corridor industrial precinct had been historically, a tightly held precinct, based on its relatively close proximity to the CBD, via the Nepean Highway, the Moorabbin Airport and affluent ‘sand belt’ suburbs.
However, over the years, tight vacancy levels and road infrastructure improvements in other locations had gradually attracted tenants away from the region, Mr Jackson said.
"I guess you could say the region temporarily fell out of favour as new industrial developments opened up farther from Melbourne along new transport routes, including EastLink, but more recently the tables have turned and the Dingley Bypass has been the catalyst,’’ Mr Jackson said.
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j.ballantyne1990-6AQqhLzZaK

Dingley Bypass a boon for local industrial property

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A record price for a waterfront property in Cabarita, located on the Parramatta River, has been linked to the development of the WestConnex motorway.
The contemporary double storey, waterfront home, located at 11 Collingwood Avenue was sold at auction by Ross Musso and Dib Chidiac of Raine &amp; Horne Concord for $5.413 million.
It smashed the previous suburb record by $413,000.
“The WestConnex is the largest ever urban transport project in NSW history and buyers are recognising that the infrastructure improvements will halve travel times to the Sydney CBD,” says Mr Chidiac.
The M4 Widening project involves converting the three lane M4 motorway from Parramatta to North Strathfield to four lanes. The M4 will be extended from Concord Road, North Strathfield to the City West Link at Haberfield via a 5.5km tunnel that will have three lanes in each direction under Parramatta Road (‘M4 East’).
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Agents suggest WestConnex helps smash Cabarita waterfront record

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An industrial warehouse/office at Clayton South in Melbourne’s south east has been sold by Ray White Commercial Oakleigh.
The vacant property at 196/248-266 Osborne Avenue, Clayton South, was sold for $345,000 to a local owner-occupier by Paul Rizzo of Ray White Commercial Oakleigh on behalf of a local owner.
Mr Rizzo said the property which offered a net lettable area of approximately 252 sqm was sold 24 hours after it was passed in at auction.
“We had a good response to the marketing campaign and more than 15 people at the onsite auction despite miserable weather,” he said.
“We had two bidders but the property was passed in.
"We reached a deal with one of the bidders the day after the auction.”
The building includes approximately 100 sqm of office space on the first floor and there was parking onsite for three vehicles.
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Vacant warehouse/office at Clayton South sold for $345,000

<html><body>
Victoria’s west has led the way with solid home price growth from Horsham to Geelong, the latest REIV price data shows.
Buyers have been attracted to the surf coast lifestyle in particular, the REIV CEO Geoff White said.
The east of the state, Warragul, Cowes and Bairnsdale has shown strong price growth.
The latest REIV median data shows that while annual growth across the state has been relatively moderate at 2.3 per cent to $348,500, a number of locations are showing far greater increases.
Horsham in western Victoria topped the list for median price growth over the year, increasing almost 20 per cent to a median price of $249,975, Mr White said.
Also making the top five list for median price increases, in the west of the state, were Geelong (up 16.9 per cent to $675,000), Torquay (up 14 per cent to $690,000), and St Leonards (up 13.7 per cent to $426,250).
“The latest research shows that buyers were not only drawn to the west, but largely to locations within commuting distance of Melbourne,” Mr White said. “New infrastructure in the west is enhancing prices.
“The faster train services which have been introduced between Geelong and Melbourne in recent years continue to improve prices in the bayside city.
“And Surf Coast locations, including Torquay, continue to benefit from easy access to the freeway and the Geelong bypass, cutting commuting time into Melbourne significantly.”
Mr White added that the other trend was the significant growth in coastal locations, from Cowes in the east of Victoria to Anglesea in the west.
“Regional Victoria is increasingly attractive to buyers and investors, offering access to quality amenities combined with a relaxed country lifestyle,” he said.
“Continued growth in the Melbourne median house price – which rose three per cent to $740,000 this quarter – also adds to the allure of locations close to Melbourne which are well below the Melbourne median price.”
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="4" valign="bottom" nowrap width="400">
Top 20 Growth Suburbs (Annual)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
 
</td>
<td width="210">
Suburb
</td>
<td width="83">
Sep-16 Median
</td>
<td width="83">
Annual Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
1
</td>
<td valign="bottom" nowrap width="210">
   HORSHAM
</td>
<td nowrap width="83">
$249,975
</td>
<td nowrap width="83">
19.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
2
</td>
<td valign="bottom" nowrap width="210">
   GEELONG
</td>
<td nowrap width="83">
$675,000
</td>
<td nowrap width="83">
16.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
3
</td>
<td valign="bottom" nowrap width="210">
   COWES
</td>
<td nowrap width="83">
$394,500
</td>
<td nowrap width="83">
16.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
4
</td>
<td valign="bottom" nowrap width="210">
   TORQUAY
</td>
<td nowrap width="83">
$690,000
</td>
<td nowrap width="83">
14.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
5
</td>
<td valign="bottom" nowrap width="210">
   ST LEONARDS
</td>
<td nowrap width="83">
$426,250
</td>
<td nowrap width="83">
13.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
6
</td>
<td valign="bottom" nowrap width="210">
   WARRAGUL
</td>
<td nowrap width="83">
$365,000
</td>
<td nowrap width="83">
13.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
7
</td>
<td valign="bottom" nowrap width="210">
   EAST GEELONG
</td>
<td nowrap width="83">
$474,750
</td>
<td nowrap width="83">
12.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
8
</td>
<td valign="bottom" nowrap width="210">
   ANGLESEA
</td>
<td nowrap width="83">
$685,000
</td>
<td nowrap width="83">
11.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
9
</td>
<td valign="bottom" nowrap width="210">
   MERBEIN
</td>
<td nowrap width="83">
$197,500
</td>
<td nowrap width="83">
11.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
10
</td>
<td valign="bottom" nowrap width="210">
   BAIRNSDALE
</td>
<td nowrap width="83">
$254,500
</td>
<td nowrap width="83">
10.8%
</td>
</tr>
</tbody></table>
</body></html>

Western Victoria leads the way in latest regional medians

<html><body>
Building, construction and carpentry prices across NSW dipped last quarter with the website serviceseeking.com.au suggesting it signalled an early indication the housing market may have peaked.
The cost to hire a carpenter decreased by 8.7 per cent compared to the previous quarter, with building and construction prices also down 5.6 per cent.
“We believe the result suggests an impending downturn in the property market. Fewer property owners and investors are undertaking renovations so consumer confidence might not be as strong as it was last year,” says ServiceSeeking.com.au CEO Jeremy Levitt.
“Investors only renovate for a positive return on investment and if that potential is not there they won’t renovate. Our data shows a relative oversupply of tradespeople to current levels of demand resulting in downward pressure on tradie prices.”
Overall, trade services in NSW across eight major categories have fallen 2.5 per cent quarterly to $59.28. When compared to the Consumer Price Index increase of 0.7 per cent quarterly released today, tradies are feeling the pinch even more.
Of the eight categories in the ServiceSeeking.com.au Tradie Price Index, only one recorded an increase: electricians managed to up their prices by 6.6 per cent in the last quarter despite all other sectors recording downturns.
Year-on-year, a 2.1 per cent decrease was recorded across the eight tradie categories.
The prices were derived by comparing a sample of 52,000 quotes submitted during the FY17 Q1 through ServiceSeeking.com.au, the website for getting any job done from tradies to professional services.
To view price changes across eight popular renovation services around the country, including major capital cities, see <a href="https://www.serviceseeking.com.au/renovations" target="_blank">www.serviceseeking.com.au/renovations</a>
</body></html>

Prices of tradies drop in NSW including carpenters

<html><body>
Mortgage aggregator Finsure Finance &amp; Insurance has recruited its 1,000th broker less than five years since it was founded.
Finsure Managing Director John Kolenda said experienced residential lender Bill Dale has joined the Queensland Finsure team to become the 1,000th broker.
It is one of Australia’s fastest growing aggregation businesses.
“Bill has settled $250 million in the past two years at BOQ Specialist, and he has recently launched his new brokerage BD Professional Mortgages."
Mr Kolenda said the speed of Finsure’s growth, which includes surpassing $1 billion in settlements, had exceeded his expectations.
The company was ranked second overall by BRW Magazine in its 2015 top 100 Fast Starters list and the company was ranked second when the SmartCompany top 50 was named to celebrate Australia’s fastest growing SMEs in 2014-15.
Mr Kolenda said mortgage brokers are becoming increasingly important in the highly competitive home finance market during an unprecedented era of low interest rates.
“More than 50 per cent of Australian home loans are now written by mortgage brokers.”
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Finsure reaches 1000 broker milestone

<html><body>
The recent change of government with Labor taking hold of the reigns in the August election have improved conditions in Darwin for people trying to enter and exit the property market, according to Herron Todd White’s latest monthly market report.
The property advisory firm says that the past two years has seen Darwin’s property market continually slow with decreasing prices and lower sales volumes across the board.
First home buyers were only offered incentives for brand new properties in those two years and established properties subsequently received limited interest.
Since 1 September the market has sprung to life again as the new first home owner incentives for existing properties came into play.
First home buyers are now eligible for up to $24,000 in stamp duty concessions, with the first $500,000 of the purchase being stamp duty free and the incentive being capped at $650,000.
As many of the properties now being targeted by first home buyers will be relatively old, a further incentive of $10,000 to be utilised for renovations including up to $2,000 on household goods will further encourage people to buy existing properties. The incentive of $26,000 for building or buying a new property remains in place.
The new concessions have only been effective for three weeks and agents are reporting increased activity with numerous contracts executed in the short existence of the initiative.
"Many prospective purchasers were waiting to see the election results before making any serious offers and have been quick to take advantage of the new benefits, some fearing it might push prices back up, particularly at the entry level," the report noted.
As the incentive is capped at $650,000, all established properties on the market under that range are expected to attract more interest.
One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-nt-darwin-122535794">20/12 Dashwood Place</a> that is for sale for $575,000.
The northern suburbs in particular will be a popular area for young buyers and all the older Palmerston suburbs should benefit also.
Herron Todd White noted how the scheme might affect the property market.
"The biggest loser from the scheme may be the already suffering new estates, as new home buyers will now shift away from building and focus on the established market. particular Zuccoli and Muirhead are the two estates with the most land left to release and project builders may have to bring their build contract prices down to compete with existing stock.
The increased activity in the market will help move properties quicker and the flow on effect will help people buy up an asset class from their existing property.
HTW still thinks there are still many negative economic factors surrounding Darwin and as the population continues to fall the basic supply and demand principles would suggest that prices won’t be drastically spiked by these new incentives.
"The greatest benefits will be more sale transactions, shorter marketing periods and more opportunities for people to enter the property market."
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Darwin property market may improve with new first home buyer scheme: HTW

<html><body>
Backpacker accommodation right opposite Bondi Beach, on Campbell Parade has been listed for sale.
It is the <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-bondi+beach-502144966" target="_blank">Bondi Backpackers property</a>.
Craig Pontey of Ray White Double Bay, who is taking the property to auction, say it has 52 rooms accommodating 138 guests in configurations from single rooms to 6-person dormitory rooms.
There’s additional income from two prime retail tenancies that also front Campbell Parade: Bavarian Bier Café and Backpacker World Travel.
"Total income from the property is currently in the order of $1.364,989 per annum, and as an ideal owner-operator business," he said.
"I believe that there’s considerable potential to increase income," he said.
The site area is 448 sqm with a 12m frontage to Campbell Parade.
</body></html>

Bondi Backpackers on Campbell Parade, Bondi Beach for auction

<html><body>
Geelong has regularly taken the top spot for Victorian regions with the highest auction clearance rates, according to CoreLogic.
Last week the region had an auction clearance rate of 80 percent amid its 52 auctions.
Now Leopold, Corio, Norlane and Lara have joined the top 30 suburbs where Terry Ryder has predicted house prices will take off this spring.
Hotspotting founder Terry Ryder listed Geelong suburbs Corio, Lara, Leopold and Norlane in his top rising markets in his spring Price Predictor Index.
Ryder recently described Geelong as the superstar of the Victorian property market.
The local paper, the Geelong Advertiser noted expansion of Leopold’s Gateway Plaza shopping centre, including Bunnings, Kmart and Aldi, was a catalyst for interest in the suburb, Allpoints agent Janet McIntosh said.
“People see us as a suburb with lots of extra facilities that’s got the potential to keep growing to become like another Waurn Ponds,” Ms McIntosh said.
New land estate Estuary sold out early this year, increasing demand in the suburb, Ms McIntosh said
“It’s very hard to get any houses under $300,000 now,” she said.
Leopold and Lara’s median house price is $380,000, the report shows.
<img src="/images/2016/10/27/14%20Teesdale%20Court.jpg" alt="">
A three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-lara-122910142" target="_blank">14 Teesdale Court</a> (above) was recently sold for $380,000.
Ryder sees Geelong as an affordable alternative to Melbourne.
Corio and Norlane, which were in July’s survey, have median prices of $240,000 and $222,000 respectively.
Overall Hotspotting listed eight Geelong suburbs that were rising steadily and another 12 suburbs were sales volumes were steady, outranking any council area in Melbourne.
<a href="/images/2016/10/27/Screen%20Shot%202016-10-27%20at%2012.59.42%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/27/Screen%20Shot%202016-10-27%20at%2012.59.42%20PM.png" alt="">
 
</body></html>

Geelong outranks Melbourne in Hotspotting property location list

<html><body>
Sydney house median price jumped 2.7 percent over the September quarter to a record $1,068,303, Domain calculations suggest.
The growth can be attributed to investor activity, according to Domain Group chief economist Andrew Wilson.
“The growth is raging back into Sydney … we have auction clearance rates in the mid-80 per cent range, and there were two interest cuts in August and May this year,” Dr Wilson said.  
The lower north shore was the strongest Sydney region over the 12 months as it increased by 12 percent in a year however apartments only increased by 1.1 percent to a median of $685,865.
Median houses prices in Australia capitals:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="64">
 
</td>
<td valign="top" width="149">
September 2016
</td>
<td valign="top" width="106">
June 2016
</td>
<td valign="top" width="106">
September 2015
</td>
</tr>
<tr>
<td valign="top" width="64">
Sydney
</td>
<td valign="top" width="149">
$1,068,303
</td>
<td valign="top" width="106">
$1,039,947
</td>
<td valign="top" width="106">
$1,046,539
</td>
</tr>
<tr>
<td valign="top" width="64">
Melbourne
</td>
<td valign="top" width="149">
$773,669
</td>
<td valign="top" width="106">
$750,407
</td>
<td valign="top" width="106">
$708,816
</td>
</tr>
<tr>
<td valign="top" width="64">
Brisbane
</td>
<td valign="top" width="149">
$521,152
</td>
<td valign="top" width="106">
$525,954
</td>
<td valign="top" width="106">
$505,171
</td>
</tr>
<tr>
<td valign="top" width="64">
Adelaide
</td>
<td valign="top" width="149">
$494,911
</td>
<td valign="top" width="106">
$496,436
</td>
<td valign="top" width="106">
$481,282
</td>
</tr>
<tr>
<td valign="top" width="64">
Perth
</td>
<td valign="top" width="149">
$556,609
</td>
<td valign="top" width="106">
$578,444
</td>
<td valign="top" width="106">
$588,890
</td>
</tr>
<tr>
<td valign="top" width="64">
Canberra
</td>
<td valign="top" width="149">
$661,912
</td>
<td valign="top" width="106">
$659,229
</td>
<td valign="top" width="106">
$630,858
</td>
</tr>
<tr>
<td valign="top" width="64">
Hobart
</td>
<td valign="top" width="149">
$338,703
</td>
<td valign="top" width="106">
$331,207
</td>
<td valign="top" width="106">
$333,619
</td>
</tr>
<tr>
<td valign="top" width="64">
Darwin
</td>
<td valign="top" width="149">
$595,466
</td>
<td valign="top" width="106">
$616,000
</td>
<td valign="top" width="106">
$661,395
</td>
</tr>
<tr>
<td valign="top" width="64">
National
</td>
<td valign="top" width="149">
$752,879
</td>
<td valign="top" width="106">
$740,630
</td>
<td valign="top" width="106">
$727,170
</td>
</tr>
</tbody></table>
 
The inner west was the strongest performer over the quarter despite the lower north shore outpacing every other region this year.
The apartment market has shown signs of slowing down in some areas such as Canterbury Bankstown, the south and the west recording modest price declines in the quarter.
 
Median unit prices in Australian capitals:  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="64">
 
</td>
<td valign="top" width="149">
September 2016
</td>
<td valign="top" width="106">
June 2016
</td>
<td valign="top" width="106">
September 2015
</td>
</tr>
<tr>
<td valign="top" width="64">
Sydney
</td>
<td valign="top" width="149">
$685,865
</td>
<td valign="top" width="106">
$678,244
</td>
<td valign="top" width="106">
$679,456
</td>
</tr>
<tr>
<td valign="top" width="64">
Melbourne
</td>
<td valign="top" width="149">
$466,779
</td>
<td valign="top" width="106">
$446,609
</td>
<td valign="top" width="106">
$442,348
</td>
</tr>
<tr>
<td valign="top" width="64">
Brisbane
</td>
<td valign="top" width="149">
$367,518
</td>
<td valign="top" width="106">
$378,327
</td>
<td valign="top" width="106">
$382,219
</td>
</tr>
<tr>
<td valign="top" width="64">
Adelaide
</td>
<td valign="top" width="149">
$301,939
</td>
<td valign="top" width="106">
$305,886
</td>
<td valign="top" width="106">
$294,481
</td>
</tr>
<tr>
<td valign="top" width="64">
Perth
</td>
<td valign="top" width="149">
$364,752
</td>
<td valign="top" width="106">
$367,632
</td>
<td valign="top" width="106">
$388,767
</td>
</tr>
<tr>
<td valign="top" width="64">
Canberra
</td>
<td valign="top" width="149">
$403,775
</td>
<td valign="top" width="106">
$398,728
</td>
<td valign="top" width="106">
$409,052
</td>
</tr>
<tr>
<td valign="top" width="64">
Hobart
</td>
<td valign="top" width="149">
$251,073
</td>
<td valign="top" width="106">
$276,544
</td>
<td valign="top" width="106">
$284,417
</td>
</tr>
<tr>
<td valign="top" width="64">
Darwin
</td>
<td valign="top" width="149">
$448,418
</td>
<td valign="top" width="106">
$448,417
</td>
<td valign="top" width="106">
$431,600
</td>
</tr>
<tr>
<td valign="top" width="64">
National
</td>
<td valign="top" width="149">
$536,294
</td>
<td valign="top" width="106">
$529,386
</td>
<td valign="top" width="106">
$529,950
</td>
</tr>
</tbody></table>
The biggest Sydney regional drop was in Canterbury Bankstown where apartments declined by 4.7 percent to a median of $505,000.
Apartments across Sydney have increased by 0.9 percent in the 12 months to September.
</body></html>

Sydney house median peaks over $1m again, but units turning into negative

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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