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Following an ASIC investigation, Max Eung, of Tempe, New South Wales has been charged with two offences of obtaining financial advantage by deception.
ASIC alleges that between March 2016 and December 2016, Mr Eung dishonestly obtained a financial advantage of funds totalling $166,500 from accounts held with MLC Limited and Nulis Nominees (Australia) Limited in circumstances where the account holders did not authorise the withdrawal of those funds from their accounts.
Mr Eung was an authorised representative and financial adviser of NAB from May 2015 to December 2016.
He was permanently banned by ASIC from providing financial services and engaging in credit activities in June 2018.
The offences each carry a maximum penalty of 10 years imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
The matter has been adjourned by consent for further mention on 7 May 2019 at the Downing Centre Local Court in Sydney.
<a href="/news/asic-permanently-bans-former-nab-financial-adviser">Last June ASIC permanently banned Max Kiattisak Eung</a> (also known as Kiattisak Eungpongpan) from providing financial services and engaging in credit activities.
While he was a financial adviser with NAB, it was alleged that during this period Mr Eung engaged in conduct including:
<ul>
<li>creating two false bank accounts in the names of his clients;</li>
<li>falsifying documents to open the false bank accounts;</li>
<li>causing withdrawals to be made from client funds to the false bank accounts and misappropriating client funds; and</li>
<li>impersonating his clients to attempt to obtain access to funds in the second false bank account.</li>
</ul>
Subsequently, Mr Eung incorporated a company for the purpose of operating a mortgage broking business and became a Credit Representative to provide credit assistance within that business.
ASIC found that Mr Eung had engaged in dishonest conduct, was likely to contravene a financial services law, and was not of good character. ASIC also found that Mr Eung was likely to contravene credit legislation and was not a fit and proper person to engage in credit activities.
Eung was an authorised representative and financial adviser with NAB from 21 May 2015 to 20 December 2016 and a credit representative of Connective Credit Services Pty Ltd from 14 September 2017 to 23 October 2017.
Eung’s banning will be recorded on ASIC’s Banned and Disqualified Persons Register and the Financial Advisers and Credit Representatives Registers.
The banning of Mr Eung is part of ASIC's Wealth Management Project.
The Wealth Management Project was established in October 2014 to lift the standards of major financial advice providers.
As part of its Wealth Management Project, ASIC has banned 47 advisers and one director from the financial services industry. Four bannings are the subject of appeals, with a further banning stayed pending the outcome of an appeal.
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j.ballantyne1990-6AQqhLzZaK

Former NAB financial planner Max Eung faces jail over client fraud

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A Charter Towers City, Qld mortgagee home has sold for $145,000 after five and a half years.
This marks a price reduction of $35,000 on its 2007 sale price of $180,000.
Gail Hooper of Geaneys Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-charters+towers+city-130516218" target="_blank">32 Oxford Street</a> the property is a four bedroom one bathroom house.
Set on a fenced 1008 sqm allotment, it is a timber home with concrete stumps.
First listed in November 2013 it had an asking price of $320,000, however by January 2015 it had been reduced to $215,000.
The most recent recorded asking price back when Raine &amp; Horne held the listing in February 2019 was also $215,000.
It was rented for $270 per week, according to a previous listing from 2015.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/charters-towers-city-qld-4820">Charter Towers City</a> is $124,500 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -5.6%.
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Charters Towers City, Qld mortgagee home sold for loss after 5 years on the market

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A South Morang, Vic home has sold under the mortgagee auction hammer for $5,000, above the price guide.
The three bedroom two bathroom house came with a price guide of $360,000 - $395,000.
Brett Sparks and Brook Patto of Millership and Co held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-south+morang-130766666" target="_blank">4 Pace Circuit</a> the property sold for $400,000. 
The 2010 built property is set across two storey's on 208 sqm.
This is an increase of $44,000 on its 2016 sale price when it traded for $356,000.
Located at the top of the court, it is minutes from Westfield, the train station and local schooling.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/south-morang-vic-3752">South Morang</a> is $643,750, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 6.4%.
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South Morang, Vic mortgagee home sold above price guide

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The Sydney suburb of Vaucluse is set to be the busiest place for auctions this Easter week with 7 homes expected to go under the hammer, according to CoreLogic
Next busiest is Sydney’s Rose bay, which has 6 auctions scheduled, followed by Cronulla, Leichhardt and Randwick, also in Sydney, which will be hosting 5 auctions each.
The Easter long weekend is expected to see a very low number of homes taken to auction, with only 386 scheduled auctions this week across the combined capital cities.
Easter is one of the quietest weeks of the year in terms of auction volumes.
<img src="https://www.urban.com.au/images/2019/4/18/Upcoming%20auctions%20APR%2018%202.JPG" alt="">
Over the Easter weekend last year there were 670 homes taken to auction.
Almost 60 per cent of all capital city auction activity is scheduled to take place in Sydney this week (220 auctions), while in Melbourne, just 48 auctions will be held.
118 auctions are scheduled to take place across the remaining capital cities, with 21 of those scheduled to take place in Brisbane and 46 in Adelaide.
Canberra is set to host 35 auctions this week, while Perth is expecting 16 auctions. There are currently no scheduled auctions in Tasmania this week.
<img src="https://www.urban.com.au/images/2019/4/18/Upcoming%20auctions%20APR%2018%201.JPG" alt="">
One example of the auctions taking place in Rose Bay this week is <a href="https://www.realestate.com.au/property-apartment-nsw-rose+bay-130752534" target="_blank">6/696 Old South Head Road, Rose Bay</a> (pictured in title).
In the suburb adjacent to Vaucluse, this penthouse style two-level apartment atop Kingsview is for sale without a price guide.
The three bedroom two bathroom apartment features 180° district views to the ocean and across Rose Bay golf courses to Bellevue Hill. 
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Vaucluse set to be busiest Easter week auction suburb

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Oxfam has announced it will close its Australian retail arm, closing all 13 stores.
The not-for-profit, part of the international Oxfam confederation, has a 50-plus-year retail history in Australia.
It began with Community Aid Abroad shops, later rebranded to Oxfam.
The sale of fair and ethical products has helped fund its charitable operations.
It opened two new format stores in Sydney back in 2016, but the SmartCompany website noted the organisation had been unable to beat the retail blues.
“We know this will be very difficult news for our staff and volunteers — and our customers — given how highly regarded Oxfam Trading has been over many years,” Oxfam Australia chief operating officer Tony McKimmie said.
“We sincerely thank them all for their dedication and significant contribution to our core mission of tackling poverty.”
McKimmie cited declining revenue in retail and wholesale channels, including flat online sales growth, as the financial factors behind the shutdown.
It reported the big players — Vinnies and Salvos — have been disrupted but are working quickly to revise their retail strategies. 
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Oxfam shuts its retail doors in Australia after 50 years 

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The relocation of a Brookvale Holden car dealership will pave the way for Chemist Warehouse’s fourth outlet on Sydney’s northern beaches.  
Chemist Warehouse has signed a five-year lease (with five-year option) on the freehold property at 2-4 Roger Street.
It housed Col Crawford Holden for several decades.
Chemist Warehouse will occupy the corner section of the property, with the remaining 410 square metres of space still available for lease.  
The property is located in a prime corner position adjacent to established marine operator Whitworths, with excellent exposure to Pittwater Road and Cross Street.
The property provides onsite parking for 18 vehicles.  
CBRE’s Amy Pfeiffer negotiated the lease on behalf of Col Crawford Pty Ltd for an annual net rental of approximately $500 per square metre.  
“Previously home to one of the northern beaches’ most well-known car dealerships, the site is arguably one of the best retail locations in Brookvale,” Pfeiffer said.
"The proximity of the premises to both Warringah Mall and Pittwater Road was a major drawcard for the national chemist retailer.”
This fit's into Chemist Warehouse’s current and ongoing plans for expansion, which include the intention to open around 30 new pharmacies each year.
Including the recent opening of their 400th outlet at the Kingston Central Plaza on a 500 sqm site in Moorabbin.
Chemist Warehouse has recently expanded into New Zealand with its first New Zealand store opening it's doors in St Lukes, Auckland, in late 2017.
They now have 5 CWH locations in Auckland alone.
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Col Crawford Holden's relocation allows Chemist Warehouse to open fourth Northern Beaches outlet

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GUEST OBSERVATION
With the re-election of the Berejiklian government, New South Wales now has a minister for public spaces, Rob Stokes. This portfolio was <a href="https://www.nsw.gov.au/your-government/the-premier/media-releases-from-the-premier/new-minister-for-public-spaces-protections-for-public-land-150-million-for-new-parks/" target="_blank">first mooted in February</a>, when the premier announced one of the new minister’s tasks would be to identify and protect publicly owned land for use as parks or public spaces.
As important as this task is, we need even more ambition in this portfolio. Public space is crucial to the social, economic, political and environmental life of our towns and cities. As well as increasing the quantity of public spaces, we need to improve their quality.
Here are ten priorities for government action to make our public spaces more plentiful and more accessible to all.
1. Rein in privately owned public spaces
From Barangaroo to Bonnyrigg, public spaces in new urban developments are often owned and controlled by private developers. The public has little say over the rules that govern these spaces and how those rules are enforced. Restrictions are often excessive, and private security guards are <a href="https://www.smh.com.au/national/nsw/security-company-apologises-after-reporter-accosted-at-malcolm-turnbull-event-20181118-p50gqi" target="_blank">known to overstep their powers</a>.
The minister for public space should <a href="https://www.theguardian.com/cities/2017/jul/24/revealed-pseudo-public-space-pops-london-investigation-map" target="_blank">map the extent of privately owned public spaces</a> and ensure these are governed by the same, democratically determined laws that cover publicly owned public spaces.
2. Strategic purchases of private land
As well as identifying publicly owned land that could be used for parks or public spaces, the minister should identify privately owned land that could be acquired for the same purpose. The <a href="https://www.glebesociety.org.au/?socialhistory=glebes-waterfront-history-the-last-40-years" target="_blank">gradual purchase of harbour foreshore property in Glebe</a> has resulted in a wonderful and well-used foreshore walk. Similar opportunities to create public space networks should be identified and planned.
3. Unlock the gates
Too much publicly owned public space is under-utilised because it is locked up. Across the city, ovals and public school playgrounds are fenced off from the public for much of the year when they are not in use. We own these spaces – when they’re not in use for sport or school, we should have access to them.
As minister for education, Stokes recently trialled a program of <a href="https://education.nsw.gov.au/news/announcements/schools-to-throw-open-gates-for-community-use" target="_blank">opening some school playgrounds during school holidays</a>. This should be done across the city. And councils should be required to show cause if they want to restrict access to any public spaces they own.
4. Stop the temporary enclosures
A growing number of park authorities and local governments are doing deals with private companies to <a href="https://theconversation.com/private-events-help-fund-public-parks-but-theres-a-cost-too-21343" target="_blank">temporarily fence off public spaces for commercial activities</a>. Sometimes they do this for days, <a href="https://www.smh.com.au/national/nsw/paul-keating-to-peter-garrett-dont-dance-on-sydneys-sacred-land-20171110-gzizzy" target="_blank">sometimes for weeks</a> and even months. They do it because they’re short of funds and need the revenue.
While programming events in public spaces can help attract crowds, we must halt the creeping logic of commercialisation, which results in us being charged money for access to our own spaces. The minister for public space should ensure park authorities do not need to depend on commercial funding for survival.
5. Maintain footpaths
The quality of footpaths makes a world of difference for many people. Think of parents with prams, little kids, people with mobility issues, and <a href="https://theconversation.com/eight-simple-changes-to-our-neighbourhoods-can-help-us-age-well-83962" target="_blank">older people</a> for whom falls are a big health risk. Our footpaths need to be wide and their surfaces even. They also need to incorporate places to rest.
The capacity of local governments to maintain footpaths is <a href="https://www.smh.com.au/national/nsw/australias-richest-suburb-theyre-swimming-in-it-20140103-309o8" target="_blank">highly uneven</a>. Public spaces in wealthy areas are gold-plated, while in other parts of the city footpaths are too often in poor condition or non-existent. The minister must think about the role that state government can play in evening things out, assisting local governments where required.
6. Provide public toilets
As with footpaths, the provision of public toilets can make the difference between going out or staying at home for many people. The minister should <a href="https://toiletmap.gov.au/find/New%20South%20Wales/Sydney" target="_blank">use existing data</a> to audit the provision and accessibility of public toilets in public spaces across the city, identify gaps and fund improvements where required.
7. Less private advertising, more public expression
While <a href="https://theconversation.com/view-from-the-hill-the-uncivil-mr-jones-104549" target="_blank">advertising on the Opera House generated controversy</a>, the <a href="https://www.smh.com.au/politics/nsw/why-the-creeping-sell-off-of-public-space-for-private-ads-is-so-wrong-20181008-p508el" target="_blank">creeping spread of commercial advertising in public space</a> is also of concern. All this advertising is commercialising our public spaces and crowding out other forms of public expression – from neighbourhood notices about community events and lost cats to murals and street art.
The minister should work with local governments to limit the amount of advertising in public space, and extract more public good from any advertising revenues raised in public space.
8. No more sniffer dogs and strip searches
The policing of public spaces makes a huge difference to its accessibility. Exclusionary policing strategies – especially the use of drug sniffer dogs and <a href="https://www.smh.com.au/national/nsw/rise-in-strip-searches-in-nsw-damaging-the-credibility-of-police-20190213-p50xew" target="_blank">rising use of strip searches</a> – should be stopped.
These tactics are not only put to work at festivals, but also around train stations and entertainment precincts. They are <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-03/fact-check-are-drug-dogs-incorrect-75-pc-of-the-time/10568410" target="_blank">ineffective in leading to prosecutions</a> and are too often used to shame, intimidate and harass people without basis.
The minister for public space needs to challenge the minister for police about this form of policing.
9. Care not control
This is not say that safety is unimportant. We know that <a href="https://theconversation.com/to-create-safer-cities-for-everyone-we-need-to-avoid-security-that-threatens-93421" target="_blank">fear of harassment and assault stops some people using public space</a>, not least women who often experience this.
However, we must not equate “feeling safe” with “more police” and “more surveillance cameras”. Indeed, sometimes these can have the perverse effect of making people feel less safe, by producing atmospheres of threat.
We feel safer when there are others around caring for the space. So, the minister should investigate ways to encourage these forms of care. Simple measures like later opening hours for neighbourhood shops, or staff on railway platforms and train carriages, can make a big difference.
10. Plant more trees
We need <a href="https://www.domain.com.au/news/one-million-urban-trees-808352/" target="_blank">more trees in our public spaces</a> – not just in parks, but on residential and commercial streets too. This is especially important in parts of the city where summer temperatures are already extreme for weeks at a time. Not only do trees help to cool these spaces, they also encourage more biodiversity and combat carbon emissions.
The minister should establish, and fund, a meaningful target for tree planting in public spaces.
This list of suggestions is far from exhaustive. But these reforms and others ought to be on the drawing board as the minister for public space sets about his new work.
It must be hoped this new portfolio is more than a tokenistic attempt to create the appearance of action on public space, in the face of criticism of this <a href="https://www.parliament.nsw.gov.au/researchpapers/Documents/Privatisation%20in%20NSW%20-%20a%20timeline%20and%20key%20sources.pdf" target="_blank">government’s record on privatisation of public assets</a>.<img src="https://counter.theconversation.com/content/115152/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Kurt Iveson, Associate Professor of Urban Geography, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/new-minister-for-public-spaces-is-welcome-now-here-are-ten-priorities-for-action-115152" target="_blank">original article</a>.
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New minister for public spaces is welcome – now here are 10 priorities for action

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The Queensland-based co-working space and business incubator Little Tokyo Two has been placed into voluntary liquidation.
Its founder and entrepreneur Jock Fairweather sending a message saying the business had become “unsustainable”.
Founded four years ago, Little Tokyo Two (LT2) had five locations across Brisbane and the Gold Coast.
The business was primarily offering a co-working space service to startup founders and aspiring entrepreneurs. However, the business had also recently expanded into offering incubation services and ‘growth plans’ for startups.
In the message, Fairweather said while the incubation offerings had performed well, the co-working model had become unprofitable and criticised new market entrants for “undercutting” prices.
“The business of running a co-working space has been struggling, with increased competition in the market and new entrants, who undercut prices to attract new members,” Fairweather said.
“After stress testing our future financial model and the financial difficulty we have recently faced we have concluded that the viability of the LT2 as a co-working space is an unsustainable option for our future.”
The Courier-Mail reports Brisbane City Council had invested $5 million in innovation hub The Capital, which Little Tokyo Two was a “foundation tenant” of.
The council told The Courier-Mail it was trying to find a new operator to “provide certainty for tenants”.
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Brisbane co-working space Little Tokyo Two collapses into voluntary liquidation

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Data released by SQM Research has revealed the national residential vacancy rate fell further to a low of 2.1% in March 2019, with the total number of vacancies Australia-wide now at 70,877.
Canberra is the only capital city to increase its vacancy rate from 0.8% in February to 0.9% in March 2019, reporting only 575 properties available for rent.
Sydney, Melbourne, Brisbane, Perth and Adelaide all experienced a 0.1% decrease in vacancy rates.
Darwin and Hobart have remained steady at 3.7% and 0.4% respectively.
Hobart continues to record the lowest vacancy rate in the country since September 2014.
Darwin’s vacancy rate is now 3.7% as the city continues to rank the highest of all capital cities since it overtook Perth in September 2018. Sydney currently has the second highest vacancy rate at 3.1%.
<a href="https://www.propertyobserver.com.au/images/2019/4/16/sqm%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/2019/4/16/sqm%201.jpg" alt="">
Although there have been some marginal decreases in vacancies in most states over the month, Perth was the only city to record increases in asking rents for both houses and units.
Hobart’s near double digit growth in asking rents for units reflects the ongoing strong demand in a city where rental supply has been pushed to its limits and experiencing shortages in accommodation.
For the major east coast capital cities, although the latest results show a tightening of vacancies and steady rents over the month and the near term, the expected influx of new construction completions and the uncertainty around the Federal election are likely to contribute to increased vacancies and downward pressure on rents, SQM said. 
Australia’s national vacancy rate has not exceeded 3% since SQM Research began collating vacancy rate data in 2005.
With Sydney’s vacancy rate already hovering at 3.1%, Darwin at 3.7%, Brisbane and Perth not too far behind this mark and with new construction completions set to rise over 2019, this may well become a reality towards the end of the year.
Asking Rents
Capital city asking rents increased 0.2% for units but declined 0.7% for houses over March 2019 to record asking rents of $556 per week for houses and $442 per week for units.
In comparison, over the 12 months, asking rents for units declined by 0.2% and rents for houses declined by 1.2%.
Hobart’s weekly asking rents for units surged ahead with a 9.9% increase over the month and 12.3% over the 12 months. House weekly rents however, have decreased 2.2% over the month but improved 4.9% over the year.
Sydney has managed a steady asking rent for units but house rents have marginally declined by 0.8% over the month.
Perth’s rental market increased for both houses and units at 1.2% and 0.9% respectively. In contrast, Adelaide has recorded rental decreases for houses and units at 0.5% for both.
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Vacancy rates fall in March, but election likely to lead to uptick: SQM Research

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Australia’s rapid property market downturn is beginning to have a severe impact on residential real estate agencies around Australia.
And it could force some out of business, says insolvency and turnaround specialist Jirsch Sutherland. 
“We are already noticing the first signs of financial distress,” says Jirsch Sutherland partner Sule Arnautovic.
“We understand that some agencies are struggling to meet their fixed overheads, with the likelihood of staff redundancies, consolidation, mergers or insolvency now firmly on the horizon. 
“With property values having dropped by as much as 15 per cent over the past 12 months, some agencies located in former powerhouse markets are considering mergers or insolvency as their incoming revenue declines rapidly. 
“We’ve heard from industry insiders saying that the drop in house prices is being exacerbated by longer marketing periods, lower-commission competitors, difficult credit access for buyers, and the fact that many younger sales agents, who found success easy during boom times, are now finding they lack the skills to cope in a far more challenging marketplace.”
Arnautovic says the future of numerous agencies around the country is likely to come into question, with declining revenues set to bite hard. 
“The housing market continues to tighten in many parts of the country and it’s already increasingly clear that many agencies will feel the pinch in terms of reduced and deferred revenue,” he says.
“With house prices tipped to drop much further in certain key markets over the coming months, we believe we may only be looking at the tip of the iceberg in terms of the challenges faced by real estate agencies.”
Rent rolls may not be the saviour 
Adding to potential difficulty is the fact that many agencies have not invested adequately in their property management divisions, preferring instead to focus most of their resources on sales.
As a result, few property management teams have been allowed to adopt new technologies that would make rental processes more efficient and easier for both landlords and tenants, thus allowing companies to better capitalise on the revenue potential of their rent rolls. 
“In previous downturns, and indeed the recession in the late 80s/early 90s, rent rolls helped keep many agencies afloat,” Arnautovic says.
“But today, as rents fall in some parts of the country, some agents will find they no longer have the income to service the loans they arranged to originally buy the rent roll. It could be a perfect storm: decreasing property management fees and lower volume of sales, which would make it difficult for some agencies to cope with their own property and asset leases, not to mention wages and entitlements. 
“With these new realities in mind, it’s vital for stressed agencies to consider action early if they find themselves in financial difficulty. The key thing to remember is that early action is vital. By deciding to adopt an appropriate strategy as soon as possible, highly adverse outcomes can most likely be avoided.”
Seeking Safe Harbour
The 2017 changes to Safe Harbour laws are one example of how worst-case scenarios can be avoided.  
“Safe Harbour laws give Directors breathing space, providing them time to consider the position of the company early in the piece, without the potential threat of insolvent trading,” says Arnautovic.
“In turn, this may improve the position for creditors, enabling them to explore the possibility of restructure or sale, which may subsequently lead to more of the company’s value being preserved.”
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Housing downturn could send real estate agents to the brink: Jirsch Sutherland

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Staff reporter

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