<html><body>
The low-key Chinese businessman Yunji Huang has offloaded a vacant Point Piper harbour front block for $22.5 million.
The pre-Christmas off market transaction had sought to not disclose the price.
It is more successful however in keeping the ultimate owner's identity shielded.
<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/2019/1/29/Wols1.jpg" alt="">
The 735sqm vacant block has been bought in the name of VJ Ryan &amp; Co accountant Peter Wyer, reportedly on behalf of an undisclosed trust.
It last sold at $14.35 million in 2013.
It came with approved $10 million plans for a new home at 42 Wolseley Road.
The approved five level Tzannes Associates residence will boasts six bedrooms, eight bathrooms and four car security parking.
<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/2019/1/29/Wols2.jpg" alt="">
LJ Hooker Double Bay supremo Bill Malouf confirmed to the local paper, The Wentworth Courier that he sold a “block of dirt” at 42 Wolseley Road in the days leading up to Christmas.
It has been quickly speculated Wyer represents interests associated with the Russian billionaire David Traktovenko, the owner of the Sydney FC soccer club, whose property developer son in law Scott Barlow and his wife, Alina, live close by.
But Title Tattle glans the buyer was not them.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mystery whether Chinese vendor sells to Russian buyer on Wolseley Road, Point Piper

<html><body>
GUEST OBSERVATION
<a href="https://www.scch.org.au/" target="_blank">Southern Cross Housing</a>, a non-profit community housing provider, took over management of just under 1,000 public housing dwellings on the New South Wales South Coast last October. This transfer from the NSW Department of Family and Community Services nearly doubled Southern Cross’s portfolio. More than <a href="https://thirdsector.com.au/link-housing-takes-over-community-housing-in-largest-ever-sydney-transfer/">3,000 transfers</a> have since been made to community housing providers on the <a href="https://chl.org.au/2017/10/community-housing-ltd-to-house-over-2200-people-in-nsw/" target="_blank">NSW North Coast</a> and in <a href="https://www.linkhousing.org.au/files//Press_Release/media_release_nsw_government_transfers_1875_properties_to_link_housing.pdf">northern Sydney</a>.
These are the first of over <a href="https://www.facs.nsw.gov.au/housing/living/management-transfer-program/management-transfer-program-overview" target="_blank">14,000 tenancies being contracted out to community housing providers</a> over coming months. The “whole-of-location” transfer program will result in the department closing housing offices in four regions. Non-government organisations will manage all government housing assistance programs in these regions.
This is not an entirely new development. Nationally, community providers were responsible for <a href="https://www.ahuri.edu.au/policy/ahuri-briefs/what-is-the-right-level-of-social-housing" target="_blank">about 20% of 400,000 social housing dwellings</a> in 2016. Most are managed under contract for state authorities, which retain ownership of the properties.
The current transfers represent a major acceleration in the growth of community housing providers’ share of the social housing sector. It will bring NSW to within a few points of the <a href="http://apo.org.au/sites/default/files/resource-files/2010/04/apo-nid21116-1160536.pdf" target="_blank">35% target agreed by the Housing Ministers’ Council in 2009</a>. This will be achieved in the next few years with transfers resulting from large estate redevelopment projects.
It is the first time a state government housing agency has effectively contracted out the entirety of its operations, albeit in particular regions. Rents collected will fund the management of all housing programs in these areas.
The policy narrative surrounding this program is richly positive. The government is promising improved customer experience and, importantly, more resources for social housing in general. Last month, NSW Minister for Family and Community Services Pru Goward <a href="https://www.linkhousing.org.au/files//Press_Release/media_release_nsw_government_transfers_1875_properties_to_link_housing.pdf" target="_blank">said</a>:
<blockquote>
By transferring management to Community Housing Providers … we are harnessing over $1 billion of additional funding over 20 years that will improve the experience of people living in social housing. I am delighted that, as part of the transfer, tenants will have the support and services they need to improve their lives.
</blockquote>
So where is the extra money coming from?
The extra A$1 billion represents Commonwealth funds that will be captured by the NSW social housing system without appearing in either state or federal budgets. This results from an anomaly in federal income security arrangements: very low-income community housing tenants can receive up to about $67 per week (singles) in <a href="https://www.dss.gov.au/housing-support/programmes-services/commonwealth-rent-assistance" target="_blank">Commonwealth Rent Assistance</a> (CRA), whereas public housing tenants are not eligible for this benefit.
Public housing rents are calculated at 25% of income (or market rent if this is lower). But community housing organisations can add the entire amount of CRA received by the tenant to this figure. This effectively increases the rent payable for a single pensioner by up to 70%.
Under changes in the law in 2016 tenants have no option but to accept the changes. If a tenant delays or fails to apply for CRA for any reason they are deemed to be receiving it and their rent correspondingly adjusted.
  Southern Cross Housing video explaining how Commonwealth Rent Assistance will be used to boost rental revenue.
What about the housing maintenance backlog?
<a href="https://www.pc.gov.au/research/ongoing/report-on-government-services/2017/housing-and-homelessness/housing" target="_blank">According to the Productivity Commission</a>, in 2016 more than a quarter of public housing dwellings in NSW failed to meet a basic standard of functionality and structural integrity. This was the worst result of any state.
It is highly likely that the transferred properties carry a substantial backlog of maintenance and repairs. The cost of this work will be effectively shifted to the federal government. However, as CRA is an income security entitlement, this will not appear as housing expenditure in the federal budget.
Maintenance issues are the most common reason for complaints and tenant dissatisfaction, so tenants will welcome more spending on maintenance. However, community providers are required to use the government’s existing maintenance contractors at least until contracts expire.
 
Providers contend that higher staff-to-tenant ratios will lead to more humanised management and greater <a href="https://www.linkhousing.org.au/blog/link-housing-wins-social-housing-management-transfer" target="_blank">responsiveness to individual tenants’ needs</a>. This claim will be tested against the fact that the community providers are dramatically expanding their portfolios and scope of operations, and will absorb many displaced department staff.
For some tenants it appears more local “hands-on” management is not always experienced as a positive. Analysis of <a href="http://www.ncat.nsw.gov.au/Pages/cc/Divisions/Social_housing/social_housing.aspx" target="_blank">NSW Civil and Administrative Tribunal (NCAT)</a> data sourced by advocates somewhat surprisingly reveals that community providers are heavily over-represented in taking tenants to the tribunal. At the same time, the break-up of management among many providers will limit the possibility of moving or swapping houses for employment or family reasons.
Lack of title limits new housing supply
In the UK and Europe, non-profit housing organisations are now the <a href="https://www.housing.org.uk/resource-library/browse/how-many-homes-did-housing-associations-deliver-in-quarter-two-2018-19/" target="_blank">major developers of new social housing</a>. They do this by borrowing against their assets and partnering with the development industry.
Australian community housing managers have long argued that they should be given freehold title to state properties. In theory, this would enable them to borrow and provide extra social housing stock without adding to public debt.
 
State governments have resisted asset transfers on accountability grounds, preferring to simply outsource management.
So, rather than adding to social housing supply, the marked growth of the community housing sector over the last decade has been almost entirely at the expense of public housing. Australia’s population <a href="http://www.abs.gov.au/census" target="_blank">increased by 12.6% between 2011 and 2016</a>. The number of social housing dwellings (public and community housing) <a href="https://www.pc.gov.au/research/ongoing/report-on-government-services/2019/housing-and-homelessness/housing" target="_blank">grew by less than 3% in that time</a>. Most of that growth resulted from federal stimulus funding during the global financial crisis.
The current program in NSW excludes any expectation that providers will leverage additional income to develop new housing.
<a href="https://images.theconversation.com/files/251401/original/file-20181218-27755-a6o8dg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/251401/original/file-20181218-27755-a6o8dg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Social housing as percentage of all dwellings. (Source: Michael Darcy) 
In 2013 the Australian Housing and Urban Research Institute published a comprehensive analysis of social housing transfers. The <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/215">report</a> concluded that potential benefits included maximising revenue, improving services and leveraging growth. However, it noted that “there has been an unrealistic loading of objectives onto this one policy mechanism”.
The authors called for a clearer and more realistic rationale for housing transfers and better opportunities for tenants to be involved in shaping the outcome.
Five years on it is apparent that revenue is the key driver at the expense of increased supply and tenant choice or voice. Support for the growth of community housing has been restated in the new <a href="http://www.federalfinancialrelations.gov.au/content/housing_homelessness_agreement.aspx" target="_blank">National Housing and Homelessness Agreement</a> where it appears as a national priority area.
In NSW, a wide range of former government responsibilities and access to a Commonwealth-funded revenue stream have been handed over without the accountability and grant management mechanisms that traditionally apply to community-based service providers. Tenants are expected to apply for federal funds on behalf of the state social housing system and bear a significant cost if they don’t comply.<img src="https://counter.theconversation.com/content/108598/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;">
<a href="https://theconversation.com/profiles/michael-darcy-119569" target="_blank">Michael Darcy</a>, Adjunct Professor, School of Social Sciences and Psychology, <a href="http://theconversation.com/institutions/western-sydney-university-1092" target="_blank">Western Sydney University</a>
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/growth-of-community-housing-may-be-an-illusion-the-cost-shifting-isnt-108598" target="_blank">original article</a>.
</body></html>

'Growth' of community housing may be an illusion. The cost-shifting isn't: Michael Darcy

<html><body>
A $4.9 million Mermaid Beach, Gold Coast sale was struck on Friday afternoon ahead of the long weekend.
<a href="https://www.realestate.com.au/sold/property-house-qld-mermaid+beach-130127946" target="_blank">The 215 Hedges Avenue offering</a> had been in the same family since the late 1950s.
The 405 sqm corner block was offered through The Agency's John Natoli who had a $5.3 million price guide.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/29/Hedge3.jpg" alt="">
It's been the home of the retired leading Brisbane ophthalmologist Brian Gibson and wife Janette.
It's been in the Gibson family since the late 1950s when Brian's mother purchased the then beachfront cottage on a 405 sqm corner block.
It has been the couple's primary residence for the last 15 years, having previously been their weekender.
 
</body></html>

$4.9 million sale kicks off 2019 on Hedges Avenue, Mermaid Beach

<html><body>
A one bedroom, one bathroom East Perth apartment has been listed by its mortgagee.
Featuring 51 square metres of internal living space, the apartment is in the VIBE complex.
Josh Roberts of Realmark Central holds the listing.
Situated at <a href="https://www.realestate.com.au/property-apartment-wa-east+perth-130312474" target="_blank">13/35 Wellington Street</a> the apartment has 19 square metres of balcony space.
Built in 2015, the apartment has a price guide of $315,000.
It first traded in 2012 at $410,000.
Located on the second floor the unit features parkland views, open plan living and a modern kitchen.
The apartment failed to sell after 450 days on the market in 2015/2016 with a price guide of $439,000-$459,000.
<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/east-perth-wa-6004">East Perth</a> is $875,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.1%.
</body></html>

East Perth apartment in VIBE complex listed at $95,000 reduction by mortgagee

<html><body>
Adelaide house and unit prices were one of only two capital cities to record annual house price growth, and the only capital to record unit price growth, according to Domain's latest House Price Report.
The report found that as a result, house and unit prices are now both at record highs.
Adelaide house prices grew 0.1% over the quarter and 1.7% over the year to $537,971.
Adelaide unit prices grew 2.4% over the quarter and 0.7% over the year to $321,430.
<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>
Domain Senior Research Analyst, Dr Nicola Powell said: “Adelaide continues to provide buyers and sellers steady market conditions, proving to be more resilient than other capital cities under the changed lending landscape. With the credit crunch impacting investors more than owner-occupiers, Adelaide is somewhat insulated from the restricted flow of housing finance — the southern capital has always skewed towards owner occupiers.
“House prices have risen annually for five-and-a-half years. Adelaide is renowned for a modest pace of growth, this steady performance means it the second best performing capital city, only behind Hobart. Adelaide house prices remain higher than Hobart and Darwin and are likely to surpass Perth in the coming months. For units, Adelaide is the best performing capital city over the December quarter.
“Overall buyer interest in Adelaide has risen, with Domain recording a rise in the number of views per listing. The stronger performance of units relative to other capital cities is likely to be partly investor led, as the lower purchasing costs and steady capital growth entices investment activity. The burgeoning food scene, established wine region, and low Australian dollar has helped to support interstate and overseas visitation to the South Australian capital.
“Adelaide's sustainable growth in tourism is likely to be another investor drawcard. Confidence is rising on the back of a growing jobs market. We’ll also see large scale projects like submarine construction and the planned new Australian Space Agency support population growth and demand for housing.”
<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Adl.jpeg" alt="">
</body></html>

Adelaide unit and house prices at record highs: Domain

<html><body>
Rental rates fell by -0.3% over the final quarter of 2018 which was a slightly more moderate fall than the -0.6% decline over the previous quarter, according to CoreLogic latest quarterly rental report.
The report found that across the combined capital cities, rents fell -0.4% compared to a -0.7% fall the previous quarter and no change over the same quarter in 2017.
The combined regional markets saw rents increase 0.3% over the quarter compared to a -0.1% fall over the previous quarter and a 0.9% quarterly increase a year earlier.
<img src="https://www.urban.com.au/images/2019/1/24/CoreLogic%20Q4%20RR%201.JPG" alt="">
"Sydney (-1.4%) and Darwin (-2.0%) were the only two capital cities in which rents fell over the quarter while rental rates were unchanged in Melbourne," the report said.
"Rates increased over the quarter in Brisbane (+0.3%), Adelaide (+0.6%), Perth (+0.4%), Hobart (+0.9%) and Canberra (+0.6%)."
"The rental change was greater over the December 2018 quarter than the previous quarter in each capital city however, compared to the December 2017 quarter, rental changes were lower in all cities except Brisbane and Perth," the report added.
<img src="https://www.urban.com.au/images/2019/1/24/CoreLogic%20Q4%20RR%202.JPG" alt="">
Rental rates nationally rose by 0.5% over the 2018 calendar year which was their slowest rate of rental growth any time since 2005.
Annual rental growth has been slowing since it peaked at 3.0% in July and August of 2017. 
Rental growth has been slower over the past year compared to a year ago in all capital cities except for Brisbane, Perth and Canberra.
The report noted: "The rental change in Sydney is at an historic low while Brisbane is seeing its strongest rental growth since August 2013 and Perth is seeing its strongest rental growth since July 2013.
"In Sydney and Melbourne in particular, the weaker rental market conditions look set to continue with a high volume of new housing set to be completed over coming years."
<img src="https://www.urban.com.au/images/2019/1/24/CoreLogic%20Q4%20RR%203.JPG" alt="">
</body></html>

Rental growth slowest since 2005: CoreLogic

<html><body>
Western Australia's mining localities dominate the list where the biggest median price declines have been recorded over the past five years, according to Investar’s latest report.
The property data firm says that South Hedland's housing median unit price has decreased by 83% over the past five years.
This is followed by Western Australia's Newman, with a 77.5% drop.
Dysart, Queensland, with a 76.4% decline ranked third. 
<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/2019/1/24/newman.jpg" alt="">
A Newman three bedroom house traded for $170,000 in November 2018 (pictured above).
Set on the top location in quiet area of town, the house at <a href="https://www.realestate.com.au/sold/property-house-wa-newman-129053334" target="_blank">3 Gunn Place </a>features big shed, separate dining/lounge, outdoor living options and lots of parking options.
It has last sold in 2005 at $238,000.
</body></html>

Western Australia still dominates the biggest price decline localities: Investar

<html><body>
GUEST OBSERVATION
The Australian Institute of Architects (the Institute) welcomes NSW Labor’s announcement of support for retaining the Powerhouse Museum in Ultimo (pictured above) while maintaining a commitment to build a world-class cultural institution at Parramatta.
With Western Sydney’s growing population already exceeding two million, the case for a new MAAS facility in Parramatta is overwhelming and the Institute continues to support its development. But to downgrade the Ultimo Powerhouse is to short-change Sydney.
The Institute recently endorsed the design competition developed for the new MAAS in Parramatta. In doing so, the AIA has endorsed a competition process, not a policy.
"Regardless of who is in government after the upcoming election, we would like to see a MAAS Parramatta facility go ahead, beginning with an exemplary design excellence competition and resulting in a built outcome that delivers ongoing value and benefit for the community and for Western Sydney’s architectural culture," explained NSW Chapter President Mr Andrew Nimmo.
"And we want to see Australia’s world class architects demonstrating their skills on an international stage."
"But the facility should complement the Ultimo Powerhouse, not replace it," Mr Nimmo continued.
"The latter contributes to a cultural ribbon that stretches from Central Station to the converted 19th century goods line, weaving by highlights including the ABC and Frank Gehry’s Dr Chau Chak Wing building. The Powerhouse building’s form, its history and its siting within this publicly valuable precinct is integral to the social, cultural, technological and economic story of Sydney."
There is also the issue of the Ultimo Powerhouse’s high architectural value, which should be celebrated and retained.
The adaptive reuse of the building in 1988 won the Australian Institute of Architects NSW chapter's highest honour, the Sulman Medal, and it has earned listing on the Institute's own Register of Significant Buildings.
To this end the Institute recommends the government grant the Powerhouse Museum the heritage listing and protections that it deserves as a matter of priority.
"We need to ensure the integrity of the building itself is maintained in any adaption or upgrade works," Mr Nimmo concluded.
</body></html>

Sydney and Parramatta both need a Museum of Applied Arts and Science: AIA

<html><body>
A two storey townhouse in South Gladstone has been listed by mortgagees with $85,000 hopes.
It last sold at $148,000 in 2006 to a NSW investor.
It has been offered by Luke Watts from Elders Real Estate Gladstone/Tannum Sands.
Located less than a minutes' drive to the Gladstone CBD, the<a href="https://www.realestate.com.au/property-unit-qld-south+gladstone-130355702" target="_blank"> 1980s Harbour Place unit at 9/131 Toolooa Street</a> comes with tiled living, kitchen and dining area, two carpeted bedrooms on upper level, and single allocated carport.
It is within walking distance to shopping centres and primary school.
Its last advertised rental was $190 a week in 2014, down from its $260 a week prior offering.
The suburb's median unit price sits at <a href="/developments/south-gladstone-qld-4680">$150,000</a>, according to CoreLogic.
It is not the first time the townhouse has gone back in price.
It fetched $38,000 in 2002 having sold in 1995 at $60,000.
</body></html>

Half price South Gladstone townhouse listed by mortgagee

<html><body>
Rents across the nation were -0.1% lower in December 2018 and were recorded at $433/week, according to CoreLogics latest quarterly rental report.
The report found that, while rents fell -0.2% to $462/week across the combined capital cities over the month, in the combined regional markets rents increased by 0.2% to sit at $373/week.
Rents were lower in Sydney, Darwin and Canberra, they were unchanged in Melbourne and higher in the remaining capital cities.
Click <a href="https://www.propertyobserver.com.au/images/2019/1/24/Dec%20Rental%20yields%20CL.JPG" target="_blank">here</a> to enlarge
<img src="https://www.urban.com.au/images/2019/1/24/Dec%20Rental%20yields%20CL.JPG" alt="">
Sydney remains the most expensive capital city rental market with a median rent of $583/week which is $43/week more expensive than Canberra rents ($539/week) which are the second most expensive in the country.
"Historically Hobart has been the most affordable capital city rental market however, strong rises in rents over recent years have pushed rental costs well above those in Adelaide and Perth and now marginally higher than rents in Brisbane."
"The rental market remains mixed with rents falling in Sydney and Darwin and a fairly significant slowdown in growth in Melbourne."
<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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
"Sydney and Melbourne are seeing the impact of such significant demand from investors over recent years along with a substantial ramp-up in new housing (largely apartment) supply, much of which was purchased by investors."
Darwin rents have been falling for many years and they continue to decline.
The past year has seen a change of direction for both the Brisbane and Perth rental markets, following years of declines, rents are now rising again. 
</body></html>

Rents down for landlords in late 2018: CoreLogic

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.

[smartcode_project:default project_id=1979 project_image_fid=363284]

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News