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McGrath Limited have announced that prestige agent Rose Farina has joined McGrath, as the company acquired her rent roll and business (currently operating as Ray White Northbridge), located in Sydney’s Northbridge region of the Lower North Shore.
CEO Geoff Lucas (pictured middle) said attracting highly respected agents is a strong indicator of continued influence of the McGrath brand.
“Northbridge is an important component of the Lower North Shore market."
He said the acquisition was an "excellent example of prime residential and aspirational family precincts that are part of a continued focus for McGrath and its prominence in this desirable region of Sydney.”
It would supplement the new McGrath offices in Mosman, Willoughby and Castle Cove as well as the company’s well established Crows Nest operation.
Ms Farina (pictured right) has over 25 years experience in the real estate industry, beginning her career as an interior designer. She first honed her negotiating skills with well respected agent Deborah Kerr.
Rose has worked in the local area for 10 years, and together with agents Denise Woo and Jeff Woo, will continue their customer centric approach to selling homes under McGrath.
Outstanding sales in the past twelve months include a record $12.6 million achieved for a 4 bedroom waterfront at 11 Minimbah Road, Northbridge; and more recently the 5 bedroom home at 13 Marana Road that sold after one week for $3,070,000; and an off market $4,535,000 for 3 Weetalibah Road, Northbridge.
McGrath’s presence in the Northbridge area is serviced by existing McGrath agents Alon Beran and Harriet Halmarick and the addition of Rose, Jeff and Denise will reinforce the company’s commitment to the area.
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McGrath Northbridge will be located at 2/155 Sailors Bay Rd, Northbridge.
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j.ballantyne1990-6AQqhLzZaK

Ray White Northbridge's Rose Farina joins McGrath as agency boosts rent roll

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ASIC has commenced civil proceedings in the Federal Court against Mustafa Mohammed, Mahek Mustafa, Mubashir Mohammed, MyWealth Manager Financial Services Pty Ltd (trading as MyWealth Manager), MyWealth Protection Pty Ltd, 3M Financial Planning Pty Ltd (trading as MCube Planners) and Secure Investments Pty Ltd (together the Defendants).
ASIC is seeking declarations from the Federal Court that the Defendants have contravened the Corporations Act by operating an unregistered managed investment scheme called ‘MyWealth Manager’. ASIC alleges the scheme should have been registered and that the Defendants operated the scheme without holding an Australian Financial Services (AFS) licence.
On 21 November 2019, ASIC obtained interim orders in relation to the Defendants, including orders:
1. appointing Tim Norman and Rob Woods of Deloitte as Receivers and Managers of MyWealth Manager Financial Services Pty Ltd and 3M Financial Planning Pty Ltd; 2. restraining the assets of the remaining Defendants; 3. restraining the Defendants from carrying on a financial services business in this jurisdiction without an AFS licence; 4. restraining the Defendants from managing, directing, controlling or otherwise operating the unregistered scheme; and 5. restraining the Defendants receiving, soliciting, transferring or disposing of investor funds received in connection with the unregistered scheme. 6. ASIC alleges Mustafa Mohammed operated My Wealth Manager from February 2017and targeted consumers from certain ethnic and cultural backgrounds.
ASIC alleges the scheme has raised approximately $7 million from more than 55 investors where investors were encouraged to roll over their externally managed superannuation into newly created self-managed superannuation funds (SMSFs) and then invest the SMSF monies, by way of a loan, in MyWealth Manager.
ASIC also alleges that the Defendants used investor funds for their own personal use, including substantial payments to friends and family members and the promotion of cryptocurrency.
ASIC said their investigation is continuing.
The hearing has been adjourned to a date to be fixed after 5 December 2019.
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ASIC takes civil action against former Financial Adviser Mustafa Mohammed and Co

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After two solid months of growth in August and September, online retail sales weakened in October, according to the latest NAB Online Retail Sales Index data.
Transactions went back -1.4 per cent over October, however year on year were up over seven percent despite slowing growth.
The largest sales category, homewares and appliances, recorded a significant monthly contraction in sales, and was a key contributor to the headline result. 
There was further improvement in sales growth for the second largest sales category, grocery and liquor.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/Online%20retail%20sales%20mom%20NAB.jpg" alt="">
This category was significantly impacted by the mid-year sales weakness, so much so, that its share of the online index has dropped from around 28% a year ago to about 26% now.
The smallest sales category, takeaway food, has been the most volatile in terms of sales growth; through this volatility, this category’s sales are up 80% when compared to the monthly sales of October 2018, and is almost 50% larger in the 12-months-to October 2019. 
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/4/NAB%20MOM%20retail%20sales.jpg" alt="">
Alan Oster said, Chief Economist, NAB said, "The three most populous states represent just over 80% of all online sales, slightly above their share of the population. Of these large sales states, Victoria leads in year-on-year growth, with ACT and NT leading the smaller sales regions."
"On average, online sales growth in Victoria has been higher than NSW over the past couple of years. Consequently, the gap in spend share between the two is narrowing."
"Representing about two-thirds of all online sales, metropolitan areas recorded a bigger contraction in sales growth in October, relative to regional areas."
"This generally followed across all states except WA, where regional sales growth contraction was larger than metro areas. In addition, regional online retail continued to grow in NSW and SA, indicating that the headline contraction for these states was driven by metro areas."
"By merchant location, international retailers (+1.0%) grew strongly in the month, while domestic (-1.6%) retailers contracted."
"While key domestic categories of grocery and liquor, and personal and recreational continued to grow, it was insufficient to offset weakness in the sales categories of homewares and appliances, media, fashion, and department stores."
"Fashion, games and toys, and small sales category takeaway food contributed to the continued growth for international merchants, he concluded.
<address> </address>
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Online retail sales weakens after strong growth: NAB

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Centuria Property Funds Limited has announced that contracts have been exchanged to sell 2-10 Wentworth Street, Parramatta, NSW for $105.3 million.
Settlement is expected to occur in Q1 CY2020. The A-grade office tower was purchased in December 2014 for $45.1 million.
Commenting on the sale of the property, Centuria joint-CEO Jason Huljich said, "when we purchased Wentworth Street in December 2014, our view was that the Parramatta office market was poised to benefit from a number of positive factors, including improving infrastructure links, the decentralisation of NSW government departments, and the overall gentrification of the area."
“At the same time, A-grade office vacancy was below 1%, which we believed could support stronger tenant appetite for quality office properties, which in turn would mean upward pressure on rents – which the Parramatta market has seen in recent years,” he said.
Over the past five years Centuria completed leasing transactions over 90% of the property (9,807 sqm) and achieved sizable rental growth – from an average of approximately $497 per sqm gross at acquisition to $617 per sqm gross at sale – an increase of 34%.
Mr Huljich explained that Centuria has a strong focus on creating value for unitholders, by maintaining close relationships with tenants and actively responding to their needs.
“Quality tenants underpin the strong, reliable income streams,” he said.
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Centuria sells Parramatta office tower for $105 million

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The performance of Australian residential mortgage-backed securities (RMBS) will weaken moderately in 2020, following some improvement in Q3 2019, but delinquencies will remain low overall, according to a new report from Moody's Investors Service.
Their report found tat Australia's muted economic environment, record levels of household debt and the conversion of interest-only mortgages into principal and interest loans will lead to a moderate increase in RMBS delinquency rates in 2020. However, mortgage borrowers are seeing some relief in the form of low interest rates and rising house prices, which should constrain the degree of deterioration.
The 30+ day delinquency rate for prime Australian RMBS decreased to 1.57% in September 2019 from 1.67% in June 2019.
Moody's has lowered its growth forecast for the Australian economy over recent months and now expects real GDP growth of 2.2% for 2020, down from an earlier forecast of 2.5%.
The forecast for 2020 is higher than the 2.0% recorded in 2019, but down considerably from 2.7% in 2018.
Alena Chen, Vice President, Moody’s said, in this economic environment, expect mortgage delinquencies to increase moderately, particularly given that high household debt - which amounts to almost 200% of annual gross disposable income - will leave households vulnerable to economic and housing market shocks."
"However, we expect most mortgage borrowers will be able to continue meeting mortgage repayments at Moody's forecast level of economic growth and unemployment, which means delinquencies will remain low overall," she stated.
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Australian RMBS will weaken moderately in 2020: Moody’s Investors Service

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The businessman John Gillett has decided to sell three redundant blocks of the Taj on Swan site <a href="https://www.afr.com/property/residential/taj-on-swan-owners-set-to-lose-more-than-5m-as-peppermint-grove-site-sells-20180807-h13mps">he bought last year for $17 million</a> in Peppermint Grove.
It was bought from former fertiliser entrepreneur Pankaj Oswal and his wife Radhika.
Gillett and his wife Jocelyn have applied to the WA Planning Commission to split their 6580 square metre superblock.
They have sought three blocks - 765 square metres, 875 square metres and 1104 square metres.
The abandoned home building block of flamboyant billionaire tycoons, Pankaj and Radhika Oswal was sold earlier this year.
Marketed as "the most famous block in Australia" the <a id="LPlnk998012" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> was sold through Ray White agent Vivien Yap in conjuction with Sotheby's agent Graham Bowie. 
The now demolished mansion with Swan River views sat unfinished after the Oswals quit Australia in 2010 amid a dispute with bankers about the wind up and sale of their fertiliser business.
The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant.
The Oswals paid $22.7 million in 2007 when it was bought from developer Warren Anderson then starting construction a year later on a "two-storey, Indian-infused luxury residence".
"The Gillett family is optimistic that the rarity of blocks in this superb location, plus a gradually improving property market, means that the land will be attractive to buyers," a spokesman for Gillett told Nine Entertainment.
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WA Planning Commission asked to further subdivide Taj on Swan, Peppermint Grove residential housing site

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EXPERT OBSERVATION
The CoreLogic Home Value Index of national home prices rose by 1.7% in November, the biggest increase since October 2003.
And capital city home prices rose by 2.0% – also the biggest lift in 16 years.
Regional home prices rose by 0.5% in the month. Sydney home prices lifted by 2.7% in November – the biggest monthly increase since October 1988.
Of the 88 SA4 regions across Australia, home prices were up on a year ago in 39 regions. Home prices in West and North-West Tasmania rose by 5.9% over the year.
The Australian Industry Group (AiGroup) Performance of Manufacturing Index fell from 51.6 points to a 3-year low of 48.1 points in November.
And the ‘final’ CBA/IHS Markit Manufacturing Purchasing Managers' Index fell from 50.0 points to a 31⁄2-year low of 49.9 points. Any reading below 50 indicates contraction in activity.
What does it all mean? 
Aussie home prices are booming. National property prices lifted by the most in 16 years in November. And in Australia’s most populous city – Sydney – home prices surged by 2.7%, posting the biggest monthly gain in 31 years.
Record-low mortgage rates and an easing in lending standards have seen a surge in demand.
In fact, preliminary ‘unadjusted’ auction clearance rates last weekend came in at 84.7% in Sydney and 78.3% in Melbourne, according to CoreLogic results.
And on the supply side, the limited pool of housing stock for sale is also supporting a surge in home price growth.
For combined capital cities, the number of new homes listed for sale is down by 15.3% over the year to November with Sydney listings down 23.1%, according to CoreLogic. Newly advertised listed stock is at the lowest level since 2007.
The rapid recovery in the property market since the Federal Election has seen national home prices post their first annual gain (up 0.1%) since April 2018. Still, in many regions, home prices are lower than a year ago.
In fact there were annual gains in home prices in only 39 of the 88 regions in November. But home prices in Tasmania’s West, North West and South East are up 5.3-5.9% over the year to November. And in Melbourne’s posh Inner East, annual gains are a nation-leading +8.0%. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/common%20sec%201.jpg" target="_blank">Click here</a> to enlarge:
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/common%20sec%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%202.jpg" target="_blank">Click here </a>to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%202.jpg" alt="">
What do the figures show? 
Home prices
The CoreLogic Home Value Index of national home prices rose by 2.0% in November, the biggest increase since October 2003. Home prices are 0.1% higher over the year. 
In capital cities, prices rose by 2.0% – the biggest lift in 16 years – to be up 0.4% over the year to November. House prices rose by 2.1% and apartment prices lifted by 1.6%. House prices were up 0.1% on a year ago and prices of apartments increased by 1.4%. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%203.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%203.jpg" alt="">
In regional areas, home prices rose by 0.5% with houses and apartment prices also both up by 0.5%. Regional home prices are down 1.2% on the year to November. 
The average Australian capital city house price (median price) was $652,446 and the average unit price was $563,439 in November.
Dwelling prices rose in seven of the eight capital cities in November. Home prices rose by the most in Sydney (up by 2.7%), followed by Hobart (up by 2.3%), Melbourne (up by 2.2%), Canberra (up by 1.6%), Brisbane (up 0.8%), Adelaide (up by 0.5%) and Perth (up by 0.4%). But prices fell in Darwin (down by 1.2%). 
Home prices were higher than a year ago in four of the eight capital cities in November. Prices rose the most in Hobart (up by 4.2%), followed by Canberra (up by 3.0%), Melbourne (up by 2.2%) and Sydney (up by 1.6%).
But prices were down in Darwin (down by 10.9%), Perth (down by 7.7%), Brisbane (down by 0.5%) and Adelaide (down by 0.5%).
Total returns on national dwellings rose by 4.1% in the year to November - the most in 19 months - with houses up by 3.6% on a year earlier and units up by 5.4%.
In contrast, the S&amp;P/ASX All Ordinaries Accumulation Index lifted by 25.9% over the year to November. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%204.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%204.jpg" alt="">
Manufacturing Purchasing Managers’ Indexes - November
The Australian Industry Group (AiGroup) Performance of Manufacturing Index fell from 51.6 to a three-year low of 48.1 points in November. And the CBA/IHS Markit Manufacturing Purchasing Managers' Index fell from 50.0 points to 3½-year lows of 49.9 points in November. Any reading below 50 indicates contraction. 
According to AiGroup: “Drought remains a top concern for many manufacturers, particularly those located in rural areas or those selling metal products and machinery &amp; equipment to the agricultural sector. The small but diverse Textiles, Clothing and Footwear (TCF), paper and printing’ sector recorded its lowest reading since early 2013, with respondents noting weak market demand and rising raw material costs."
According to CBA/IHS Markit: “Australian manufacturing conditions were broadly stagnant in November, as a survey-record fall in new orders and a decline in output weighed on the headline PMI. A weakening sales trend contributed to a further fall in backlogs which, in turn, dampened hiring. Jobs growth was marginal. Meanwhile, firms once again failed to add to inventories of both inputs and final goods while business confidence fell to the lowest since June 2016.”
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%205.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%205.jpg" alt="">
What is the importance of the economic data? 
The CoreLogic Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic Hedonic Index includes all properties. Home prices are an important driver of wealth and spending.
The AiGroup and CBA Purchasing Manager indexes (PMIs) for services and manufacturing are released each month. The Australian PMIs are the local equivalents of similar indexes released for other countries.
The PMIs are amongst timeliest economic indicators released in Australia. The PMIs are useful not just in showing how the sectors are performing but in providing some sense about where they are heading. The key ‘forward looking’ components are orders and employment. 
<a href="https://www.propertyobserver.com.au/images/2019/12/2/commonsec%206.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/commonsec%206.jpg" alt="">
What are the implications for interest rates and investors?
The Aussie property market is booming due to strong demand, reduced supply and record low interest rates.
And with listings remaining at very low levels, residential home building falling and population growth remaining solid, could a potential housing shortage boost home price growth even further in 2020? Yes, according Commonwealth Bank Group economists whom are forecasting a 6.1% lift in capital city home prices over the year, led higher by Sydney (up 7.0%) and Melbourne (up 8.0%).
Gains of 2.5-4.0% are expected elsewhere except Darwin, with prices tipped to be flat. If this materialises, consumers may feel a tad more optimistic about their wealth and be encouraged to increase their discretionary spending. But tepid wage growth and elevated mortgage debt will likely restrain consumers.  
Global manufacturing conditions have improved. In fact, the November purchasing manager index readings for leading exporters’ Germany, Japan and China have bottomed after a period of contraction.
Trade tensions between the US and China have eased in recent months with the official Chinese factory gauge expanding in November for the first time since April on improving external demand.
But the outlook for global growth is highly dependent on a ‘phase one’ trade deal negotiations with the next tranche of US tariffs – 15% duty on US$156 billion worth of Chinese products – due on December 15. 
But things aren’t as promising for Aussie manufacturers. Both the AiGroup and CBA/IHS Markit manufacturing gauges hit three-year lows with activity contracting in November.
Like the Reserve Bank and most market economists, the AiGroup has implored the Federal Government to deploy additional fiscal stimulus measures to ‘jump-start’ the economy.
The AiGroup said: The further fall in new orders is far from encouraging...stimulus from interest rate and income tax cuts has not so far flowed through to consumer and business spending. The Government will need to look very closely at additional stimulus options over coming months."
Commonwealth Bank Group economists expect another rate cut in February 2020. But with limited conventional monetary policy ammunition at its disposal, we would prefer to see additional fiscal initiatives – such as infrastructure spending and tax cuts - be announced by the Federal Government to prop up economic activity.
That said, credit ratings agency Standard &amp; Poor’s last week warned that Australia’s AAA sovereign credit rating could be at risk should the government announce large spending measures.  
Ryan Felsman is a senior economist at CommSec.
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Biggest increase in Aussie home prices in 16 years: Ryan Felsman 

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The most recent bushfires in November 2019 have had devastating impacts across NSW and QLD.
Looking back at the impact on property after previous catastrophic fire events shows some distinct trends:
<ul>
<li>The data shows that median house prices are affected by bush fires in many suburbs and regions, although it can vary significantly from one suburb to the next.</li>
<li>In the long term, house prices increase faster than the region and state median growth in part because new properties are built, improving the quality of stock in the areas.</li>
<li>Bush fire prone areas are often more remote and the properties are fewer and further between, so these factors play more of a part in the fluctuations in price growth, more than the risk of fire. </li>
<li>And, also, because there are few properties per suburb, the property data available is limited.</li>
<li>Property views in bush fire areas decrease initially but increase again as time goes by.</li>
<li>There is an increase in properties being listed for sale, following a bush fire, presumably because sellers want to leave the area. Although, there are often fewer properties listed in these areas anyway, due to lower population.</li>
</ul>
Below are some examples of where bush fires have played a part in median house price growth, using <a href="http://realestate.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=http://realestate.com.au&amp;source=gmail&amp;ust=1575313750071000&amp;usg=AFQjCNHWGVPMI21fYMWCOxoFkks5Ip6rCw">realestate.com.au</a> data.
Black Saturday
Median house price growth in many of the towns affected by the Black Saturday fires has exceeded that of the state or regions growth.
For example, the towns below have nearly all seen price growth increases of over 100%, whereas the regions that these towns sit within have not seen anywhere near the same growth.
This is partly because of the rebuilding that took place and stock will now be newer and better quality than before.
Presumably, fire retardant materials and other preventative measures would have been built into the properties, making them more valuable.
It is also likely that many of these suburbs have become more desirable over time for other reasons (e.g., affordability, large homes on large blocks, etc).
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="267">
Suburb
</td>
<td valign="bottom" nowrap width="195">
% growth in house prices over 10 years
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kilmore
</td>
<td valign="bottom" nowrap width="195">
66%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kilmore East
</td>
<td valign="bottom" nowrap width="195">
42%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Murrindindi
</td>
<td valign="bottom" nowrap width="195">
146%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kinglake
</td>
<td valign="bottom" nowrap width="195">
150%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kinglake Central
</td>
<td valign="bottom" nowrap width="195">
113%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Kinglake West
</td>
<td valign="bottom" nowrap width="195">
110%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
Strathewen
</td>
<td valign="bottom" nowrap width="195">
229%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="267">
St Andrews
</td>
<td valign="bottom" nowrap width="195">
114%
</td>
</tr>
</tbody></table>
 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="330">
SA4 Region
</td>
<td valign="bottom" nowrap width="125">
% growth in house prices over 10 years
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="330">
Melbourne - North East
</td>
<td valign="bottom" nowrap width="125">
76%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="330">
Hume
</td>
<td valign="bottom" nowrap width="125">
56%
</td>
</tr>
</tbody></table>
Bunbury fire of 2016
In January 2016, a bushfire affected the Harvey and Waroona areas of WA. It affected 10 towns and destroyed 162 properties.
Below, shows the median price growth the year before and the two years after the fire.
You can see that these towns were showing positive price growth until 2016, in contrast to the growth in Bunbury and WA as a whole.
Then prices were affected at a greater level than the rest of the state.
(data was available for eight of the 10 towns affected)
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="146">
 
</td>
<td valign="bottom" nowrap width="85">
2015
</td>
<td valign="bottom" nowrap width="85">
2016
</td>
<td valign="bottom" nowrap width="85">
2017
</td>
<td valign="bottom" nowrap width="85">
2018
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="146">
Bushfire affected Towns
</td>
<td valign="bottom" nowrap width="85">
2.95%
</td>
<td valign="bottom" nowrap width="85">
0.46%
</td>
<td valign="bottom" nowrap width="85">
-6.18%
</td>
<td valign="bottom" nowrap width="85">
-6.07%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="146">
Bunbury SA4
</td>
<td valign="bottom" nowrap width="85">
2.56%
</td>
<td valign="bottom" nowrap width="85">
-2.50%
</td>
<td valign="bottom" nowrap width="85">
-2.56%
</td>
<td valign="bottom" nowrap width="85">
-1.32%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="146">
WA
</td>
<td valign="bottom" nowrap width="85">
-0.20%
</td>
<td valign="bottom" nowrap width="85">
-4.62%
</td>
<td valign="bottom" nowrap width="85">
-3.16%
</td>
<td valign="bottom" nowrap width="85">
-2.17%
</td>
</tr>
</tbody></table>
Property views for all of the Bunbury suburbs decreased in February, following the fires in January and although the volumes of properties for sale in these areas is always low, there was an increase in average listed properties after the fires.
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How do bushfires impact property prices: Realestate.com.au's Nerida Conisbee

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A substantial land holding with redevelopment potential (STCA) at Preston in Melbourne’ s inner north has hit the market.
The property, which is being offered for the first time in 35 years, will be sold by expressions of interest.
Located within close proximity of Northland, the 106 Bell Street is nine kilometres from the Melbourne CBD.
The property comprises a number of buildings/ sheds/warehouses of basic construction covering about 1000 square metres while the remainder of the land is sealed and utilised as hardstand. 
The near one acre, 3890 square metre site is zoned Industrial 3 and has seven metres frontage to Bell Street. 
The broad purpose of Industrial 3 zoning is to provide for industries and associated uses, to provide a buffer between the Industrial 1 Zone or Industrial 2 Zone and local communities, and to allow limited retail opportunities.  
According to marketing agents, Teska Carson’s George Takis and Adrian Boutsakis the property would suit an industrial park redevelopment or an owner-occupier yard.  
"The fact that the area has attracted the likes of Mazda, NAB, Office Works, Total Tools and Harvey Norman really underscores the significance of this location and the opportunity that the sale presents," Takis said. 
The property will be sold subject to a short term lease at a rental of $120,000 per annum gross. 
"As an inner suburb within close proximity of the CBD Preston has and continues to benefit from new development, population growth and gentrification, providing owner-occupiers, investors and developers with excellent growth," Boutsakis said.
"Key drivers have included an excellent level of amenities, an extremely popular market, Northland Shopping Centre, trains, trams, and schools and relatively affordable housing."
He said Bell Street provided easy access to several key arterials including Albert Street, Murray Road, Plenty Road, Chifley Drive and the Eastern Freeway. 
Boutsakis said the property’s key attributes included:
<ul>
<li>Industrial 3 zoning;</li>
<li>Large 3890 square metre site;</li>
<li>Prime Bell Street location;</li>
<li>Access to all amenities;</li>
<li>Main street frontage and exposure; </li>
<li>Short term holding income; and,</li>
<li>Close proximity to the CBD.</li>
</ul>
The expressions of interest campaign for the property closes on December 9.
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Development site of nearly once acre in Preston for sale

<html><body>
Fashion designer Kit Willow has yet to sell her Vaucluse home which was listed for auction last month. 
The redesigned 1930s home came with revised $5 million auction hopes through Laing &amp; Simmons agent D’Leanne Lewis.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/19/vau%201.jpg" alt="">
Earlier this year Willow and her husband, property developer Mark Podgornik, had anticipated pocketing $5.8 million.
The home now has a $4.6 million to $4.7 million guide.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/19/vau%203.jpg" alt="">
The couple had bought the house in 2010 for $2.1 million followed by a two year renovation creating the three-level residence with a glass-fronted living area and a separate au pair suite.
Willow is now asking between $4.6 million and $4.7 million.
This article first appeared in The Daily Telegraph. 
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Fashion designer Kit Willow's Vaucluse home yet to sell

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Staff reporter

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