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McGrath Limited's Glynn Wright has resigned as Chief Financial Officer of McGrath.
Wright will be leaving the company in June 2019.
He was with McGrath for the past 18 months after <a href="/news/glynn-wright-replaces-paul-hauenschild-as-mcgrath-cfo">joining from Bras N Things</a>. 
“Glynn’s contribution will be missed and we wish him well in his future endeavours,” ceo Geoff Lucas said.
A search for a replacement has commenced. 
Its shares hit an all-time low of 25 cents last week, around 88 per cent down on their $2.10 IPO pricing in late 2015.
Trade this morning was at 25.5 cents.
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j.ballantyne1990-6AQqhLzZaK

McGrath Estate Agents lose CFO Glynn Wright 

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EXPERT OBSERVER
We expect industrial assets to outperform Australia's (Aaa stable) broader commercial property market over the next several years. This expectation, in large part, reflects our view that the sector will benefit from a combination of accelerated growth in e-commerce activity and technological innovation that create a wider range of applications for industrial assets, making them more resilient than in previous property cycles. State governments' large infrastructure spending will also improve connectivity and drive valuation growth.
We believe that these trends most benefit A-REITs with large, diversified, well-located industrial portfolios, particularly with large exposure to the tightly held Sydney market, including Goodman Group (Baa1 stable) and its largest fund Goodman Australia Industrial Partnership (GAIP, Baa1 stable) and Charter Hall Group's (Baa1 stable) Charter Hall Prime Industrial Fund (CPIF, Baa1 stable). We also expect that diversified A-REITs, such as Mirvac Group (A3 stable), Stockland Group (A3 stable), Dexus (A3 stable), and GPT Group (A2 stable), will continue to increase their industrial exposure to take advantage of these trends.
Demand for industrial assets will continue to grow
. This is driven by a combination of factors, mainly: (1) the growth in e-commerce and related industries as a result of the increasing popularity of online shopping; (2) technological advances that offer supply-chain efficiencies and create demand for industrial space outside traditional warehousing/storage; (3) large investment programs in public infrastructure that improve transport efficiency and connectivity; and (4) the strong underlying fundamentals of the Australian economy with 26 years of uninterrupted economic growth, rising private consumption and solid labor market fundamentals.
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Total current demand for industrial space exceeds both the supply and long-term demand averages. Major metropolitan areas continue to suffer from a shortage of available industrial zoned land, especially in densely populated areas and around key transport nodes. Industrial transaction volumes continued to trend lower in fiscal year 2018, ended 30 June 2018, (Exhibit 2), reflecting the diminishing availability of quality industrial assets as well as a limited land-supply pipeline. The shortage has been further exacerbated by the active rezoning of industrial land towards alternative uses, particularly residential.
The high demand for industrial assets has benefited A-REITs with industrial exposure as land values appreciated across major metropolitan areas. Sydney values increased by around 50% over the last three years, followed by Melbourne and Brisbane at around 35% and 25%, respectively (Exhibit 3). Higher land prices have put downward pressure on A-REIT cap rates (Exhibit 2). We expect cap rates will likely compress further over the next 6-12 months, as rising rents support asset values.
<a href="https://www.propertyobserver.com.au/images/2019/2/21/exhibit%202.jpg" target="_blank">Click here</a> to enlarge:
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Occupancy levels continued to rise for rated A-REITs as tenants rushed to secure lease space before rents increase materially. Occupancy levels were at around 98% for the 12 months ended 30 June 2018 - an all-time high for the industrial sector. We expect occupancy levels to remain at around 97%-98% over the next 12-18 months.
We believe the elevated demand for industrial assets will continue over the next 2-3 years with land prices and rents to rise faster in locations where there is higher population density and higher competition for alternative uses. We expect A-REITs with exposure to the Eastern Seaboard assets, where around 80% of Australia's population is located, to outperform others. This includes companies such as GAIP (100% portfolio), Mirvac (100%), Dexus (99%), Stockland (94%) and CPIF (86%).
Of this group, A-REITs with overweight exposure to Sydney, such as GAIP (84% portfolio), Mirvac (100%) and Stockland (69%), are best positioned to derive above-average levels of rental growth due to the city's superior economic fundamentals, higher take-up levels, and lack of available high quality industrial land relative to other major metropolitan areas. We consider South Sydney to be the most resilient among sub-markets, as the region is supported by major strategic transport gateways (Sydney Airport Finance Company Pty Ltd (Baa1 stable) and Port Botany) and the close proximity to Sydney's wealthy inner-metro region.
At the same time, as major ports on the Eastern Seaboard (Port of Melbourne, Lonsdale Finance Pty Limited, Baa2 stable), Port Botany, Port of Brisbane continue to expand due to the pick-up in the freight activity, we expect higher demand for industrial assets located close to these infrastructure assets.
As large blocks of land become harder to secure in the Sydney area, failing to accommodate the full footprint of international players, we expect tenants to increasingly look for comparable and cheaper options in Melbourne and Brisbane, servicing Sydney out of these cities.
Population growth and solid economic fundamentals will support an acceleration in demand growth for industrial assets over the next several years. Meanwhile, increasing diversification of industrial asset usage and tenants, reflecting e-commerce penetration and technology advancements, will drive underlying demand.
Increased e-commerce activity will remain a major driver of demand for industrial property -- and will reshape the portfolios of A-REITs We consider the growth in e-commerce as one of the major drivers of the significant level of investor demand for industrial assets in Australia, particularly as industries associated with residential construction enter a slowdown. We expect the growth in online shopping to accelerate over the next 2-3 years, which should have a positive spillover effect on demand for industrial space.
We see large untapped potential for the e-commerce sector as the penetration rate in Australia lags those of other developed nations like the US and UK (Exhibit 4). Online as a percentage of total sales in Australia was around 9% in 2018, which lags the US by around four years and the UK by seven years. The US and UK penetration rates are now around 13% and 17%, respectively.
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The growth of online retail in Canada also provides evidence for increasing online penetration in Australia. Both Australia and Canada have similar logistical challenges of servicing densely populated urban areas with large distances between cities. Canada's e-commerce sales as a percentage of total sales was much less than Australia's in 2012, however, it has caught up with Australia since then.
<a href="https://www.propertyobserver.com.au/images/2019/2/21/exhibit%204.jpg" target="_blank">Click here </a>to enlarge:
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Demand for space will be driven by the expanding needs of online players such as Amazon.com, Inc. (A3 positive) and Alibaba Group Holding Limited (A1 Stable). A-REIT issuer feedback suggests that e-commerce retailers usually require more space than traditional retailers as they need to stock a greater range of readily available products. Further, we expect supporting industries such as transportation, warehousing, logistics, postal and third-party logistics (3PL) to expand to address the growth in e-commerce.
As consumers continue shifting their purchases online and demand faster delivery at minimized costs, we expect to see an increase in demand for smaller fulfillment centres that are located closer to end-consumers. These centres are used for last-mile delivery and are supported by larger distribution centres located in outer locations. We also believe that increasing land scarcity and surging land prices in densely populated urban areas will increase the usage of multi-storey warehouses, helping to ease the pressure of delivering items to consumers as quickly as possible. Therefore, we expect assets in densely populated areas or with proximity or access to key transport nodes to continue to rise in value.
Demand will also come from brick-and-mortar retailers that will require new distribution space and capabilities as they continue to invest in digital and expand their online offerings. At the same time, as store sales growth lags online growth, we expect physical retailers to continue rationalizing their existing retail footprints, putting pressure on the retail assets of A-REITs.
To capitalise on strong demand, diversified landlords with industrial exposure will likely leverage off their relationships with retail tenants to accommodate the tenants' needs in industrial space. We expect companies like Charter Hall, Stockland, Mirvac, and GPT to benefit the most due to their large exposure to big retail groups like Wesfarmers Limited (A3 stable), Coles Group Limited (Baa1 stable) and Woolworths Group Limited (Baa2 stable).
The growth in e-commerce will most benefit large pure-play industrial A-REITs such as GAIP and CPIF and those diversified players with large industrial exposures such as Stockland and Dexus. Further, we expect other A-REITs to rebalance their portfolios towards the industrial sector over the next 2-3 years, by shifting away from retail as negative sentiment impacts this property segment. We have already seen A-REITs announcing this shift in focus, with Mirvac, Stockland and GPT planning to increase the allocation to the sector. Dexus is partnering with Singaporean sovereign wealth fund GIC to create an AUD2 billion unlisted logistics property trust, seeded with assets from Dexus' portfolio with an active development and acquisition mandate.
Technology and innovation will continue to create additional opportunities for landlords and tenants
We believe that advances in technology are creating additional opportunities for both tenants as well as industrial landlords. Tenants will benefit from utilizing technology, such as big data, cloud software, machine learning, predictive analytics, artificial intelligence, drones, robotics, and autonomous driving, to optimize their operations and create more efficient distribution networks.
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At the same time, technological advancements provide a range of benefits for the industrial A-REITs. Increasingly sophisticated industrial assets can accommodate a wider range of uses, such as e-commerce, data centres, high-tech logistics, health care, “dark stores”,1 etc. Increasing applications of industrial space will improve demand beyond the historical tenant base and provide greater tenant sector diversity, reducing the risk of a correlated downturn among A-REITs' customer base, increasing the pool of potential future tenants to fill vacant space.
This also means the sector is less reliant on traditional “blue-collar” manufacturing industries that face structural decline in Australia, primarily due to high domestic labor costs. We view this diversification as a significant credit positive for industrial A-REITs, providing resilience to the cash flows and earnings through the property cycle.
Large investments in technology by tenants mean longer payback periods for these investments. We view this as positive for landlords as this will make moving facilities less attractive and will translate into longer weighted average lease expiry (WALE) through longer new leases, better retention and reduced vacancy risk. For example, some of the largest Australian retailers like Woolworths and Coles have signed 20-year leases for their respective distribution centres, putting extensive amounts of capital in internal fitouts and automation systems.
This trend for longer leases might moderate the recent declines in WALE across rated REITs, which, in part, was caused by the large amount of leases signed by 3PL companies that sign leases with an average duration of 3-5 years.
We expect A-REITs to also benefit from technological advancements in building and construction as properties now can be constructed more quickly and cheaply, offsetting the rising costs of land. Moreover, the increased application of green technologies such as solar panels should provide A-REITs with an additional source of income from selling energy to the tenants as well as lower their own cost base in an environment of rising energy expenses.
Solid economic conditions and large infrastructure investment on the Eastern Seaboard will support the long-term demand for logistics We expect Australian economic growth, increased trade flows in Asia and large public infrastructure investment on the Eastern Seaboard to support long-term demand for logistics.
Robust economic conditions in Australia with over 26 years of uninterrupted growth will continue to be underpinned by (1) the current outlook for global economy, and particularly Asia, where a lot of Australia's key trade partners are located; (2) solid labor market and wage growth stabilizing; (3) relatively low Australian dollar boosting net exports, and; (4) strong rates of population growth.
Increased trade flows are expected to have a positive impact on industrial property demand, especially for assets that are located close to key infrastructure such as ports, motorways, airports and intermodal terminals.
Public infrastructure spending is expected to accelerate over the next 2-3 years with the value of announced projects at a record high (Exhibit 5). The state governments of New South Wales (Aaa stable), Queensland (Aa1 stable) and Victoria (Aaa stable) plan to increase their respective infrastructure spending programs the most, although we believe the major benefits of this spending for industrial assets will be in the longer term. This will be further supported by the Australian Government's (Aaa stable) commitment to spend more than AUD75 billion over the next 10 years on transport infrastructure across Australia under the National Infrastructure Plan.
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We expect A-REITs which focus on NSW and particularly Western Sydney to benefit the most as this is where the largest investments will be made over the forecast period. Spending includes large projects, such as the Western Sydney Airport project (set to open 2026) and Western Sydney Rail. Melbourne will also see some benefits from projects like Fisherman's Bend urban renewal project.
Overall, we think that infrastructure improvements will benefit both the tenants, through improved transport efficiency, connectivity and productivity, as well as the industrial A-REITs that will see valuation uplift for properties located next to the upgraded networks. Further, industrial landlords will see continued demand from industries that are supporting these infrastructure projects.
Moody's provides credit ratings, research, tools and in-depth analysis on the widest possible range of debt market topics.
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Demand for Australian industrial assets growth to be driven by e-commerce and technological innovation

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Canada based, Oxford Properties Group (Oxford), a global real estate investment, development and management company has listed a collection of office properties from their recently launched OIPP portfolio. 
Oxford is the global real estate arm of OMERS.
To facilitate the process, Cushman &amp; Wakefield have been appointed as lead advisors. 
Alec Harper, Director, Investments and Asset Management, Australia, Oxford, said “We have carefully identified a collection of high quality, well-located properties for sale that we believe will be very attractive to the market.
"It provides us the opportunity to recycle sale proceeds to fund growth in our existing portfolio as well as future acquisitions of on-strategy, premier assets in Australia’s gateway cities.”
Josh Cullen, Cushman &amp; Wakefield National Director, Capital Markets, Australia and New Zealand, said, “The properties on offer are high quality assets across Australia’s largest capital cities.
"We believe that bringing the assets to market as a collection provides scale that offers additional investment potential for market participants on this already attractive offering.”
Located in established commercial markets across Australia, the assets will be marketed to investors in Australia and internationally, with the formal campaign launching on March 11. 
The collection includes:
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<li>Piccadilly Complex, Sydney (pictured in title)</li>
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<li>6 O’Connell Street, Sydney (pictured above)</li>
<li>99 Walker Street, North Sydney</li>
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<li>111 Pacific Highway, North Sydney (pictured above)</li>
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<li>16-18 Mort Street, Canberra (pictured above)</li>
<li>The Complex: 140 Creek Street, Brisbane, 295 Ann Street, Brisbane, 232 Adelaide Street, Brisbane</li>
<li>George &amp; Adelaide: 239 George Street, Brisbane, 15 Adelaide Street, Brisbane</li>
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Canada’s Oxford Properties lists $1.5 billion worth of ­office towers around Australia

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Melbourne has has remained in the peak of market position on the HTW commercial office property clock for March, according to valuation firm Herron Todd White latest report.
Meanwhile, Lismore and Coffs Harbour have dropped a notch to a starting to decline market position. Echuca has dropped a notch further as well reaching the declining market position.
Toowoomba and Gladstone however have transitioned to a bottom of the market position. They are joining Darwin, Perth, Brisbane and Hobart
Others the bottom of the property cycle include, Cairns, Townsville, Mackay, Launceston, Rockhampton and Wide Bay
Click <a href="https://www.propertyobserver.com.au/images/2019/3/6/HTW%20Property%20Clock%20Commecial%20March%202019.JPG" target="_blank">here</a> to enlarge
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Canberra and Adelaide remain in the start of recovery position, alongside Mildura and the Central Coast. 
Ballarat and the Sunshine Coast hold steady as rising markets, while Sydney, Newcastle and the Mid North Coast are a notch above in the approaching peak of market position.
The HTW report authors aid, "The office property sector is an excellent measure of a region’s overall economic health."
"With heightened fiscal activity comes increased demand from businesses keen to take on floor space."
"This month, our team is looking forward and forming opinions on how our country’s various office markets will track throughout 2019."
"While there are plenty of unknowns yet to come this year, the submissions from our valuers provide a brilliant baseline against which you can judge the year’s progress," They concluded
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Melbourne office market remains at peak: HTW Commercial Property Clock

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Mirvac's Olderfleet, at 477 Collins Street is now 88 per cent leased, with the signing of property consultants, Urbis. 
Urbis has leased 4,100 sqm across levels 10, 11 and parts of 12 in the premium-grade commercial building.
They are joining other tenants the such as Norton Rose Fulbright, Lander and Rogers and anchor tenant Deloitte.
Mirvac’s Development Director, Frank Lonetti said, “We’ve experienced strong momentum in interest for office space at Olderfleet, allowing us to lease 88 per cent of the building earlier than expected and well ahead of practical completion in 2020. 
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Urbis is relocating their Melbourne head office from the Paris end at 120 Collins Street to Olderfleet in the mid-city block between William and King Streets. 
Urbis CEO, Ben Pollack has said, “Our workplaces of the future will facilitate greater levels of collaboration, innovation and flexibility for our people and clients and we are very excited by the new workplace strategy that we have developed in partnership with WMK which will be progressively rolled out through all of our offices” 
“Collins Street in Melbourne is undergoing a major transformation with a number of commercial developments revitalising the highly sought-after location. Olderfleet will be a key feature of the area, providing the perfect balance between modern architecture and functionality, with the beauty and history of the restored heritage façade,” added Frank.
Olderfleet is on schedule to be completed by 2020, the structure is in place up to Level 26 and the façade at Level 20 is finished. 
The building is committed to a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.
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Olderfleet now 88% leased with Urbis signing

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A four bedroom one bathroom house in the Toowoomba suburb of Newtown, Queensland has been sold on behalf of the mortgagee for $210,000.
Angela and David Harms of Success Realty held the listing.
Last sold in 2001, the property transacted for $97,000.
Situtated at <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-130165382" target="_blank">63 Jimbour Drive</a>, the home was previously listed in 2017 for $265,000.
The property had been listed for February 2 auction.
Set on 600 square metres the property is currently tenanted for an undisclosed weekly rent.
The property is one of a group of 37 properties Success Realty was marketing for mortgagee sale.
Others mortgagee listings in Newtown that Success Realty sold include <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-130165118" target="_blank">4 Higgins Street</a> and <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-130165214" target="_blank">77a Taylor Street</a>.
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The median price for a home in <a href="/developments/newtown-qld-4305">Newtown, Queensland</a> is $310,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 2.8%.
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Toowoomba mortgagee house sold at auction for $210,000

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South East Queensland’s commercial market has experienced a strong start to 2019, with the first quarter marked by plenty of activity and confidence, according to Knight Frank.
Knight Frank Partner and Head of Queensland Ben McGrath said the market was a beacon of light in the property industry, faring better than most other markets around Australia, largely due to a strengthening economy.
“Both the residential and commercial markets in South East Queensland are performing well, especially in comparison to other parts of the country,” he said.
“While Sydney and Melbourne’s commercial property markets have seen a correction in recent months after significant growth, Brisbane’s market continues to firm, with a lot of enquiry and transactional activity marking the start to this year.
The office and industrial sectors are the standouts in Brisbane’s commercial market at the moment, while retail has taken a backseat, said McGrath.
“The South East Queensland economy is now reaching a level of maturity that is attracting more interest from offshore buyers, and the assets being chased are those that present value-add opportunities or core assets with long, secure lease structures,” he said.
McGrath added that in addition to the office market, Brisbane’s industrial market continues to be very strong.
With the findings of the Banking Royal Commission only just recently released and the Federal Election looming, Jennelle Wilson, Knight Frank Partner, Research and Consulting, said there would be more activity in the second half of the year as confidence strengthened.
“There is no doubt investors are exhibiting confidence in our market in the short to medium term, but once there is more certainty about the future and confidence has re-established in the banking sector – which will take time - this will be strengthened,” Wilson said.
“South East Queensland will remain a strong proposition for investors due to all the fundamentals going in the region’s favour.”
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Australia’s commercial property investment hotspot is South East Queensland: Knight Frank

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A four bedroom two bathroom Roma, Queensland house has sold under the mortgagee hammer for $221,000.
Katie Coomber of LJ Hooker held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-roma-130203890" target="_blank">72 Taylor Street</a>, the house that previously resided on the property traded for $150,000 in 2012.
The current 2013 built house sits on a fully fenced 808 square metre block.
It was listed as a rental for $600 per week in 2013.
However in 2015 the property was relisted as a rental for less, $440 per week in March 2015 and $340 per week in December 2015.
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The median price for a home in <a href="/developments/roma-qld-4455">Roma</a> is $220,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -1.6%.
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Four bedroom Roma, Queenland mortgagee home sold for $221,000

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An architecturally designed Paradise Waters home has been sold off market to a local for a price believed to be above $8 million.
Ray White Surfers Paradise agent Michael Willems managed the sale.
The house at 22-24 Admiralty Drive, Paradise Waters was designed by American architect Edward Larrabee Barnes and originally built for the Matsushita family of Panasonic Electronics.
<img src="https://f.datasrvr.com/f1/619/78736/22Admiralty63_(1).jpg" width="640" data-imagetype="External">
Other examples of buildings that Barnes designed include the Dallas Museum of Art, Walker Art Centre, and the IBM Building at 590 Madison Avenue in Manhattan.
Barnes’ only Australian house is an example of "linear architecture which is functional yet stylish, providing privacy from the street while maximising wide river views".
Set on 1,351 square metres of riverfront land, it is a five bedroom six bathroom affaiDesign features include large steel beams, wide timber-lined eaves, Carrara marble features throughout in flooring.
Positioned overlooking the expansive water of the six knot zone of Jaraparilla Cove the home also contains an indoor fully tiled saltwater swimming pool as well as a waterside boat shed.
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Riverfront Paradise Waters trophy home sold off market

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A private Chinese investor has paid $5.5 million on a circa 6.3 per cent yield for a Broadmeadows industrial facility.
Dawkins Occhiuto’s Chris Jones and Walter Occhiuto brokered the deal.
Situated at 37-45 Camp Road, the property was sold fully leased to Telstra on a new five year lease, with two further three year options.
It has a a passing net income of $346,000 per annum.
The property comprises a purpose-built, 2178 square metre office (657sqm) and warehouse building with 102 square metres of canopy, on a 13,890 square metre site.
Mr Jones said the property offered a well-located, high quality, industrial investment with a blue chip tenant in a market with limited opportunities.
"Quality industrial investments around Melbourne have become difficult to attain and particularly in the north where exceptional transport connections and limited serviced land and development opportunities have driven substantial rental growth for existing facilities over the past 12 months."
He said supply constraints and the concomitant rental growth in the north were likely to drive further strong sales results and yield compression.
"Industrial yields have tightened by up to 50 basis over the last 12 months and are now at their lowest point in at least a decade. We will continue to see that tightening while industrial property offers such an attractive differentiation to other types of property investment,’’ Mr Jones stated. 
He said the Expressions of Interest campaign had attracted significant interest from a wide range of local, interstate and off-shore buyers.
The vendor was a Melbourne based private investor.
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Chinese investor purchases Telstra leased Broadmeadows facility

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.

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<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.

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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.

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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."

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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.

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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."

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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."

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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.

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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."

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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.

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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.

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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>.

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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."

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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.

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<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.

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Staff reporter

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