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Since bottoming out in 2011 and 2012 in all states, upgrader demand has strengthened over the last four years and continues to rise, according to QBE's latest housing report.
Upgraders and downsizers have historically represented the largest component of residential demand, being 43% of total residential lending activity in the past 15 years.
This represents two to three times the size of the first home buyer market.
In the year to June 2016, growth in the number of loans to upgraders was 7.1% nationally.
However, upgrader demand varies by state.
Victoria, New South Wales, South Australia, Australian Capital Territory, Queensland and Tasmania saw growth in loans to upgraders during 2015/16.
In contrast, in Western Australia and the Northern Territory the number of loans to upgraders declined in 2015/16, following on from declines in the previous year. Similarly, upgrader loans declined in Tasmania in 2015/16, although this was after growth in 2014/15.
In Western Australia, there was a less significant decline in loans in June quarter 2016, suggesting that the pace of decline is slowing and the market will soon bottom out, whereas in the Northern Territory the number of loans to upgraders experienced a greater annual decline in June quarter 2016.
<a href="/images/2016/10/13/Chart%206.jpg" target="_blank">Click to enlarge</a>
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The ABS provides data on residential investment in terms of the value of total loans rather than the number of loans. As a result, changes in the value of loans over time reflect a change in values for property and purchaser volumes.
All states reported double digit decreases in lending for residential investment in 2015/16 after strong annual rises up to the peak in 2014/15. Year on year declines were still being recorded in June quarter 2016.
Investment lending in Victoria, Queensland, Western Australia and Tasmania recorded the smallest annual decline in investment loans in 2015/16.
The Northern Territory and South Australia recorded the highest decline in lending for residential investment during 2015/16.
<a href="/images/2016/10/13/Chart%207.jpg" target="_blank">Click to enlarge</a>
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j.ballantyne1990-6AQqhLzZaK

Upgraders dominating residential lending activity: QBE Housing Outlook

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A standard dwelling in Byron Bay will cost between $700,000 and $1 million, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that for the same price range for a standard dwelling in Byron, a buyer could get a good quality home newly renovated in nearby Lennox.
In Mullumbimby and Ocean Shores the most favoured price point is between $500,000 and $750,000 for a standard dwelling.
An example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-mullumbimby-123828414" target="_blank">6 Hibiscus Place</a> (pictured above) that is for sale for $649,000.
The main demographic for this price point is owner occupiers, predominantly a mix of local buyers trading up and people relocating from the major cities.
The main reason that this price point is so favoured is due to this bracket offering an affordable coastal living family home to middle income earners who want to enjoy the resort style of living, HTW said. 
The slowest price point in the region are for prestige properties priced $4 million and above.
These properties are pretty much only available to the rich and famous and are either owner occupied or kept as holiday accommodation.
Although there are more transactions taking place at the moment, it is still a very thinly traded sector of the market with a high level of volatility.
Another slow price point is secondary rural residential areas. The buyers in this range tend to be local buyers, however, due to these locations being that little bit further away from the towns and airports, they trend towards the slower price point category.
The most favoured price points in Ballina are between $500,000 and $650,000 which tends to be owner occupiers, particularly young families.
"You will get a standard dwelling in this price bracket which includes recently built houses," the report noted.
These are considered the most affordable dwellings in the region for families.
Families priced out of this bracket in Ballina can move slightly further inland to Wollongbar where they can build a new standard home for between $450,000 and $550,000.
The slowest price point for the area is anything priced over $1 million.
Although the area has seen a few good sales over the $1 million mark, transactions are limited.
Professional couples are the most likely buyer group over this price point, HTW noted.
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Standard Byron Bay home options at $700,000 plus: HTW

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A Pakenham rural property with character, charm and, most importantly, potential is up for November auction.
The 1.44 acre property, located at <a href="https://www.realcommercial.com.au/property-land+development-vic-pakenham-502140478" target="_blank">65 Racecourse Road, Pakenham</a>, dates back to the 1920's Bourke family, who were prominent graziers and horse racing identities.
The prominent Pakenham landmark is set amongst mature oak trees in a fine garden, while the large weatherboard home has broad timber decked return verandas.
The interior with 10 foot ceilings and wide timber panelled passage ways offers four generously proportioned bedrooms, plus study and two stately living rooms complete with original fire places, ornamental ceiling and with double hung sash windows throughout.
The country style eat-in kitchen still has the original combustion stove in place, plus family bathroom and sun room. The original racing stables are still in place.
The property offers a unique opportunity to restore to its former glory and/ or further develop (STCA). It is positioned with access to the M1 Freeway, public transport and major shopping and services.
Initial terms is a 10% deposit with balance 30/60 days.
The property is offered through First National Commercial agents Todd McKenna and Nyall Greene and is set to go under the hammer on November 12.
There is a racing property also listed at Coral Lynn.
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1920s weatherboard home and former racing stables at Pakenham slated for auction

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<div>
In his first speech as Reserve Bank of Australia governor, Philip Lowe left the door open to further official rate cuts so long as inflation remains low.
He also suggested there could be a fresh surge in Sydney house prices.
He said that inflation is likely to remain low and that the economy is still some way from generating enough jobs to reignite strong wages growth.
"We too have now joined the club of countries with headline inflation noticeably below the medium-term average, although we are a more recent member than many others," he said.
"Headline inflation here is 1 per cent and measures of underlying inflation are running at around 1.5 per cent.
</div>
<div><img src="https://ci6.googleusercontent.com/proxy/APq8nbMYSluOKgE4Cy8-wBMf3ZAnBKPD2VfcjLlQD6XOxylEsNMf7FBzSE2lfkqu8EYymJkIDu9o2JcX46tpz38jisjV4NzVu-fAI78j0V_TLVteSW8Ppd3F975HHZpY6QzQsva4xNCc8VwCekf6VAi7Rkv1rypzQVU-4rFyV8j62Q=s0-d-e1-ft#https://www.afr.com/content/dam/images/g/s/4/j/8/z/image.imgtype.afrArticleInline.620x0.png/1476741841997.jpg" alt=" " width="345" height="343"></div>
<div>
<h2> </h2>
<div>Lowe revealed figures and research from the Australian Bureau of Statistics and bank officials which shows a big fall in the size and frequency of wage gains in recent years.</div>
<div> </div>
<div>Six years ago, almost 40 percent of the 18,000 individual job categories tracked by the ABS received a wage increase of between two and three percent.</div>
<div>
By contrast, less than 10 percent of jobs got this type of wage increase and almost half had a wage increase of between two and three percent.
</div>
<div>
"Looking to the future, we expect that the various factors holding inflation down will continue for a while yet," Lowe said.
"But this does not mean that we have drifted into a world of permanently lower inflation in Australia."
He said the economy should gradually strengthen as the negative drag caused by the end of the mining boom exhausts and the labour market tightens.
</div>
<div>The bank are determined to ensure inflation quickens, Lowe said. He highlighted they wanted to avoid the trap that countries like Japan have fallen into.</div>
Lowe described the housing picture as 'complex'. It's one of the sectors of the economy at greatest risk of a blow out if rates are cut too low. 
</div>
"Prices seem to be increasing quite briskly again in some areas, although are falling in others," he said.
"Growth in rents is very low and there is a big increase in housing supply still to come. 
<div>
"To add to the picture, credit growth is still exceeding income growth, although by a smaller margin than last year.
"It is also noteworthy that much of this credit is being used to finance new housing construction rather than consumption."
He suggested inflation should pick up over the next two years, however said it's still likely to be "closer to two percent than three percent."
</div>
<div>Lowe said that achieving the quickest return of inflation would be unlikely to be in the public interest.</div>
<div>
"Achieving the quickest return of inflation back to 2.5 per cent would be unlikely to be in the public interest if it came at the cost of a weakening of balance sheets and an unsustainable build-up of leverage in response to historically low interest rates," he said.
"Conversely, the case for moving more quickly would be strengthened in a world where the labour market was deteriorating and people were having increasing difficulty finding jobs."
</div>
<div>The new governor defended the Reserve Bank's ability to be flexible about maintaining its 2 to 3 percent inflation target.</div>
<div> </div>
<div>He suggested he doesn't believe in even more dramatic interest rate cuts. </div>
<div>
Lowe concluded by highlighting the GFC, admitting it has left "scars" by creating uncertainty and a lack of job security for companies and workers.
"This increased value put on job security has made many workers less inclined to push for large wage rises."
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Price growth mixed nationally but Sydney brisk: RBA 

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An experimental 1950s Eltham house is for sale with $820,000 to $900,000 price guidance.
<a href="https://www.realestate.com.au/property-house-vic-eltham-123904402" target="_blank">The Rice House</a> comprises of two separate structures built in the mid-1950s, one with four lumps containing kitchen, living, dining and master bedroom, and the other with two lumps housing a self-contained flat.
The igloo-style building on 4000 sq m at Ryans Road was commissioned to the mid-century Melbourne architect Kevin Borland.
It was the first commercial construction by the noted Melbourne bush builder Alistair Knox.
Its structure formed of catenary or self-supporting arches is heritage-listed. Kevin Borland was an innovative young architects having worked firstly with Harry Seidler.
Clients Harrie and Lorna Rice were seeking something "avant-garde" as their “first and only house”.
Having spent their lives there until Harrie Rice and later his wife, Lorna died, the house has now been listed for sale.
In accordance to their parents’ wishes, Mrs Parker is hoping “the extremely experimental building” will be bought by someone who will love it and restore it with due respect.
“I want to do the right thing by the house,” told Fairfax Media. 
She asked her agents, Eltham’s Morrison Kleeman, to deter developers from purchasing it “and destroying its integrity by cramming it.
"I hope that whoever gets it will reinstate it”.
She also hopes the draped concrete canopy that once connected the two buildings will be reconstructed.
In buildings that have been compared to a sequence of concrete caves, “or concrete igloos, or Nissan huts”, the construction that required wooden arches to be overlaid with hessian that was then coated in three layers of concrete, were completely hand-made.
“I spent a lot of time on that roof”, she said.
“There is something very organic and very primal about the house," she said about the house that was always full of intellectuals and academics. 
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Modernistic igloo 1950s Victorian Rice house listed at Eltham

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Liquidators have been appointed to Home Australia, with customers whose homes are under construction by any builders in the group urged to contact the insurer per the Insurance Certificate issued with their home building contract.
Construction on 207 properties around the country has been put on hold.
Home Australia is owned by Family First senator Bob Day, who has announced his resignation from Federal Parliament.
Home Australia operates in five Australian States under the brands:
<ul>
<li>Homestead Homes in South Australia (new homes presently under construction – 48); 
</li>
<li>Collier Homes in Western Australia (new homes presently under construction – 29); 
</li>
<li>Newstart Homes in Queensland (new homes presently under construction – 17); 
</li>
<li>Ashford Homes in Victoria (new homes presently under construction – 57); and 
</li>
<li>Huxley Homes in New South Wales (new homes presently under construction – 56).</li>
</ul>
Liquidators McGrathNicol said in cases where no Insurance Certificate has been issued, customers may have a claim against the relevant Home Australia entity which they contracted with.
"The Liquidators’ immediate objective is to work constructively with relevant insurers and customers in an effort to facilitate the orderly recommencement of construction of uncompleted homes by alternative builders. We will communicate with customers in writing in the coming days," McGrathNicol said.
"In accordance with the Liquidators’ duties, the financial affairs of Home Australia will also be investigated so that the Liquidators may report to creditors and to the Australian Securities and Investments Commission.
"The Liquidators’ invite parties interested in acquiring the businesses and/or assets of Home Australia in whole or in part to contact McGrathNicol on (03) 9038 3100.
"Meetings of creditors for each entity must be held within 18 days of the appointment of liquidators. The meetings of creditors will be convened for 4 November 2016 or earlier. Meeting notices setting out times and locations will be distributed to Home Australia’s creditors and customers at least seven days in advance of the meetings."
<a href="/images/2016/10/17/Annexure%20A.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Annexure%20A.jpg" alt="">
Information for customers and creditors will be uploaded to the McGrathNicol website <a href="https://www.mcgrathnicol.com" target="_blank">here</a>.
 
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Liquidation of Home Australia to hit house and land owners

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One of Australia’s fastest-growing suburbs took out top honours at national urban design awards.
The City of Sydney’s Green Square town centre was a winner at the 2016 Australian Urban Design Awards.
Lord Mayor Clover Moore said the prestigious national award reflected on the City’s commitment to excellent urban design.
There was also a win for Sydney Park's water re-use project.
“This is a win for our inner city communities, who’ve come with us on the journey of great urban design, and it’s a win for our fantastic staff teams and partners on these projects,” the Lord Mayor said.
“We’re focused on meeting the needs of our communities with great spaces and facilities that residents, businesses and visitors can enjoy and be inspired by.
“In Green Square, we’re revitalising the area’s heritage charm with innovative and sustainable design that reflects the growing community. Our long-term planning and design for the town centre represents a strong and truly coordinated vision – the community’s local knowledge, needs and hopes for the town centre helped shape its development.
“Our Sydney Park water re-use project brought together excellent design, science and sustainability to create a significant new piece of green infrastructure. This innovative design allows for the cleaning and reuse of 340 Olympic-sized swimming pools worth of local storm water runoff from Newtown each year.”
The multi-award winning Sydney Park water re-use project won the Delivered Outcome – Large Scale category award, while Green Square was awarded the Urban Design, Policies, Programs and Concepts – Large Scale category.
Green Square is bringing culture and creativity to the doorstep of 61,000 people who will soon live in the area, with a new town centre set to boast sustainable infrastructure and world-class community facilities.
Features will include a library, childcare centre, creative hub, aquatic and recreational centre, more than 15 parks, and Australia's biggest residential stormwater harvesting and treatment system.
The Sydney Park water re-use project harvests and treats up to 850 million litres of stormwater from Newtown’s Munni Street catchment each year. The water is used to irrigate the 44-hectare parkland and supply water to a neighbouring depot.
The Australian Urban Design Awards, awarded by the Planning Institute of Australia, is one of the nation’s largest urban design competitions.
Established in 1996 by Prime Minister Paul Keating, the program recognises contemporary Australian urban design projects of the highest quality.
The 2016 judging panel included representatives from the Australian Institute of Architects, Australian Institute of Landscape Architects, Government Architects Network Australia, Green Building Council of Australia, Consult Australia, Engineers Australia, Australian Sustainable Built Environment Council and Urban Design Forum.
The judges commended the Green Square town centre project for its creation of a mixed-use neighbourhood on former industrial land with high-quality public spaces and community infrastructure.
“A major public square is the outcome of an international design competition and forms the social heart of this vibrant community. Research, collaboration, community engagement and ongoing monitoring are critical components that distinguish this comprehensive urban design strategy,” the judges said.
The judges said the Sydney Park water re-use project design “provides a bold, high-quality and conscientious enhancement of public space that is interconnected with the surrounding urban environment through water collection and re-use.”
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Sydney's Green Square urban design project wins award

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Raine &amp; Horne's website has won an award at the 2016 Asia Pacific Property Awards 2016 held in Kuala Lumpur, Malaysia.
Raine &amp; Horne has now completed a Phase 2 enhancement of their website, <a href="https://www.rh.com.au" target="_blank">rh.com.au</a>.
The rollout of the Phase involved extensive development and testing, and the focus for the enhancements was threefold, according to  Angus Raine, Executive Chairman, Raine &amp; Horne.
“The first objective involved revising the user interface to put more focus on calls to action such as ‘find an agent’ and ‘appraisal requests’,” he said.
"The second step involved simplifying and streamlining the search function, enabling properties to be displayed with one click and then allowing users to refine the search parameters.
“A recent Microsoft study found that our online attention span is down to 8 seconds. So if customers can’t find easily find what they’re looking for fast, they’re onto the next site.
“With this research in mind, we’ve streamlined the website’s search functions to help consumers find what they’re looking for rapidly and to keep them coming back to Raine &amp; Horne.”
“Thirdly, we were determined the transition to the new design would not require a significant learning curve for office administrators or create additional work for our offices, and would have minimal impact on existing content.
“I’m happy to say it’s been a case of mission accomplished in relation to meeting the three objectives, and the finished product has been well received by our customers, offices and the wider international real estate community.”
Bill Russell, Raine &amp; Horne’s General Manager International, was on hand to collect the award, along with Ms Zaidatul Adawlyah Zaki of Raine &amp; Horne Malaysia. 
“We know the Raine &amp; Horne website is ever-evolving, and we work closely with our network to ensure we meet both their needs and those of our customers,” said Mr Raine.
“As such, we conducted a detailed design process for the enhancement of our residential website with a working group that included members of our corporate IT and marketing teams and representatives from our 300-plus global office network.”
However, Mr Raine has foreshadowed that these will not be the last of the changes to the Raine &amp; Horne website, as the real estate market and technology continues to evolve.
 
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Raine & Horne ramps up website

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Property developer Michael Kelly has sold his Surfers Paradise home for $10.2 million, the fourth highest sale on the Gold Coast in 2016.
<a href="https://www.realestate.com.au/property-house-qld-paradise+waters-122700578">The home,</a> which took Kelly two years to build, sold to a Chinese national with a temporary visa and foreign investment approval. 
Just off the Nerang River on a block totalling 2,295 sqm, the five bedroom mansion was designed by Jared Poole. It features a home theatre, gym and temperature controlled wine cellar.
Offering 98 metres of river frontage, the home has a 15 metre pontoon, secure boat storage and ramp.
The sale was the highlight of a very quiet Golden Week for Chinese acquisitions across Australia.
Golden Week is a semi-annual holiday in China, where some of the countries richest head to Australia for holidays and a spot of property shopping.
The property was listed for Golden Week last year for $12.5 million but those expectations were slashed to $11 million by the time of its sale.
Savills QLD agents Lisa Haplin and Christopher Jones secured the sale.
This article was first published in the Weekend Australian Mansion Australia property section.
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Gold Coast developer secures $10.2 million Surfers Paradise home sale

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The popular Channel 7 trackside horse racing presenter Francesca Cumani and her polo playing husband Rob Archibald have bought a Sydney bolthole.
It is a $2.48 million Randwick penthouse, not far from the track.
The purchase came following the birth of the couple's first child, Harry, in April.
The UK-born Cumani is busy with the Emirates Spring Carnival.
Having studied languages at university, Cumani came to Australia in 2006 with father, the UK based trainer Luca Cumani, to run Glistening in the Melbourne Cup.
Cumani's career soon shone. 
After finishing runner up with Purple Moon (2007) and Bauer (2008), Francesca received an unexpected request from Channel 7 asking to join their Melbourne Cup panel.
Having since hosted The Winning Post on CNN, the English born TV star has just been announced as part of the UK team covering ITV's flat racing for the next four years alongside Sky Sports veteran Ed Chamberlin who has switched to ITV.
Cumani has insider-knowledge aplenty. She grew up in the Newmarket stables of her Derby-winning father Luca and rode as an amateur.
Francesca is now an ambassador for next January's Magic Millions.
The 2017 Magic Millions event will introduce polo for the first time, with an exhibition match between ambassadors Cumani, equestrian champion Royal Zara Phillips and some of the best players in the world, including Cumani's husband Rob Archibald.
Cumani married Archibald, one of Australia's top ranked polo players, in 2014. He is heir to a 70 year legacy of polo pony breeding, training and playing.
Francesca brother Matt Cumani is also in the horse racing world. 
Beginning his training at Ballarat, Matt has shot onto the scene as a trainer of international horse Grey Lion, which runs in the Geelong Cup later this month.
Grey Lion is chasing a start in the Melbourne Cup, however would need a weight penalty to make the final field.
Their three bedroom, two bathroom apartment sits atop the award-winning Pindari complex featuring an expansive split-level layout.
Its a spacious 291 sqm apartment that encourages indoor and outdoor living amid tranquil treescape vista.
It was bought from Adam Geha, who paid $1.01 million in 2005, was the architect behind the complex which won the 2009 RAIA National Architecture Award for Multi-Unit Residential
It had previously been a $2,000 a week rental before being sold by N G Farah Real Estate Coogee agent Peter McGuire.
It had been on the market for just under a year.
This article was first published in the Saturday Daily Telegraph.
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Horse racing trackside star Francesca Cumani buys Randwick penthouse 

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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