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A Maroubra real estate agent has been jailed for two years for fraud after admitting to stealing deposits from trust accounts.
Zacharis Gregory Imisides was sentenced earlier this month to two years imprisonment.
It will be served through an intensive correction order, which will see him perform 400 hours of community service work and participate in a rehabilitation psychology program.
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<div id="google_ads_iframe_/31694718/domain.com.au/news/nsw_3__container__">The 37-year-old estate agent was charged with eight counts of fraudulently converting money, totalling more than $425,000. </div>
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The offences occurred between May 2014 and December 2014 in Marourbra, Pagewood and Kingsford.
Zac Imisides was a real estate agent at Century 21.
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<div class="__domain_group_fe_co_wp_listing_recommendation_experiments___2_0_0" data-renderizr-id="fe-co-wp-listing-recommendation-experiments_1">Minister for Better Regulation Matt Kean said this was another example of a real estate agent “abusing their position and accessing money isn’t theirs”.</div>
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“Imisides made transfers after selling seven properties in 2014 but the trust account withdrawals had no connection to the sale of the properties, and he was not authorised to release the sales deposits prior to settlement,” said Mr Kean.
Imisides was disqualified in 2016 from holding a licence or certificate of registration for eight years.
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j.ballantyne1990-6AQqhLzZaK

Maroubra estate agent intensive correctional order for two years

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GUEST OBSERVATION
The financial services royal commission resumes for its final round of hearings on Monday, and reappearing before Justice Hayne will be the chief executives each of the big six institutions he has in his sights: the Commonwealth Bank, Westpac, AMP, Macquarie, ANZ, and the National Australia Bank.
At issue are shocking abuses of trust, and when the government responds after receiving the report in February it will be under pressure to introduce tighter rules that more closely regulate bankers’ behaviour.
There’s another, better, path it could follow. It could loosen the rules and treat bankers more like doctors.
Crude attempts to regulate behaviour fail
We trust doctors, not because their behaviour is tightly regulated but because it is self-regulated. As professionals they strive to be trustworthy, in the same way as citizens who don’t cheat on their social security claims, or restaurant customers who don’t eat without paying.
A regulation imposed on top of a relationship of trust can ruin it.
In a famous study titled A Fine Is A Price, economists Uri Gneezy and Aldo Rustichini examined what happened when an Israeli daycare centre attempted to impose fines on parents who picked up their children late.
Surprisingly, the trial of the fine resulted in more, rather than fewer, late pickups.
In the eyes of the late parents, the fine changed late pickups from bad behaviour into an acceptable outcome of cost-benefit analysis. They simply interpreted the fine as a babysitting cost, and weighed it against the benefit of arriving when it suited them. Moral motivations were crowded out.
Doctors take vows
Professionals with ethics take vows to honour their duty to their clients, even where the costs of doing so are greater than the benefits of not doing so.
Service providers who don’t take ethics seriously weigh the costs and benefits of acting in the interests of their clients versus acting in their own interests. This ‘moral optimization’ may take account of ethics, but only if it pays.
Many financial services workers don’t take ethics seriously partly because they have been trained in economics or finance – disciplines which teach that cost-benefit analysis applies to everything.
A start would be to train them better. Their teachers could listen to the words of the creator of much of the theory used to justify performance pay, Michael Jensen of Harvard:
"We teach our students the importance of conducting a cost-benefit analysis in everything they do. In most cases, this is useful – but not when it comes to behaving with integrity."
When integrity is at stake it is better to replace moral optimization with moral prioritization, by giving priority to moral principles like telling the truth or looking after vulnerable clients.
Money changes things
Recent research on the psychological power of money suggests that financial market participants are at risk of negative ethical tendencies when money is used as an incentive, or even when they are just reminded of its importance, so-called money priming.
Money is used as an incentive to in order overcome the so-called principal-agent problem in which agents, (workers or chief executives) are tempted to put they own interests ahead of those of the firm they work for.
It can work, but if high-powered financial incentives communicate that the recipient’s only goal should be to maximise profit, then a culture of material self-interest takes hold, constrained at best by the letter of the law. And this crowds out other interests, such as those of their customers.
This means high-powered financial incentives can solve one kind of untrustworthiness, but only by creating another.
Professionals such as doctors and teachers solve the principal agent problem in another way: through ethics.
Banking could be a profession
Rather than further regulation, we propose a greater focus on ethics through a program of professionalisation, including:
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Establishing an interim professional body run by outsiders who come with a proven ethic of serving the public in fields such as education or health. After five years the finance industry can apply to the government to staff and run the body itself, subject to performance.
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A winding back of regulation in order to signal that “you are professionals who have to take responsibility for ethical judgements”. The professional body could stand down senior managers deemed not to be showing commitment to the new culture.
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<li>
A fundamental change of bonuses so that they become incentives for ethical behaviour. We suggest an automatic bonus payment of 10-20% of total pay. It could be withheld for two reasons: either poor financial performance of the firm, or an ethical breach. In effect, it would be a negative bonus. Multiple ethical breaches would result in the loss of professional status and employment.
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Regulation hasn’t worked
Automatic bonuses remove the extreme money priming of the finance industry, and they can be helpful in maintaining employment in the event of a downturn. They can simply be reduced instead of laying off staff, as happened during the global financial crisis.
Boosting regulation and boosting the capability of regulators, as many say they want, could work against developing the ethics and the trust that makes other professions work.<img src="https://counter.theconversation.com/content/106927/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;">
Warren Hogan, Industry Professor, University of Technology Sydney and Gordon Menzies, Associate Professor of Economics, University of Technology Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-tip-for-bankers-ahead-of-the-royal-commission-be-more-like-doctors-106927" target="_blank">original article</a>.
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A tip for bankers ahead of the royal commission: be more like doctors

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Ceasarstone has pinpointed Australia from the nations it sells its range of kitchen, bathroom, walling and flooring products into as facing housing headwinds.
“Australia’s sales were down 1.2% on a constant currency basis, with weaker performance than forecasted,’’ said Ceasarstone chief financial officer Ophir Yakovian.
“The decline was primarily due to increased competition coupled with continued softness in the housing and remodelling markets, which were affected by more rigid lending standards and increased mortgage rates,” The Australian reported.
Ceasarstone, a global manufacturer of premium quartz surfaces, sells into more than 50 countries.
The Nasdaq-listed Ceasarstone has become one of the housing products manufacturers to highlight issues in the renovation and construction sector.
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Ceasarstone sales down in Australia given housing headwinds

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The Perth property where the body of a mother of two was found buried in the backyard in September has been listed for December auction.
Ahmed Seedat was charged with the murder of his wife Fahima Yusuf, the mother of two children, after her body was found at their Weston Street, Carlisle property.
Under the WA Real Estate and Business Agents and Sales Representatives Code of Conduct 2016 regulation 24, the listed agent must make reasonable efforts to verify all facts material to the transaction.
Listing agent Jared Rayner told the local paper the Weston Street property was no longer a crime scene and its history would not be hidden from buyers.
“Because it’s a material fact of the transaction, we must acknowledge that to any person who does want to purport a contract,” he said.
“It’s open public information as well, however, I would still be disclosing because we don’t know what really happened there other than a body was found in the backyard.”
Seedat is next scheduled in court on November 28.
The Pulse Property Group has marketed the property as mortgagee in possession.
<a href="https://www.realestate.com.au/property-house-wa-carlisle-129835546" target="_blank">The 2005-built four bedroom home</a> last traded at $865,000 in 2014.
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Perth crime scene auction listing comes with full disclosure

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The Mill House, one of regional Victoria's finest country homes, has hit the market.
The four bedroom Newham home, which was built in the 1860s, has been restored, merging mid-Victorian architecture with modern living.
It sits in 9,600 square metre structured gardens from landscaper Paul Bangay that are divided into 'rooms'.
There are open grassed areas, manicured plantings, a walled herb garden and an orchard, creek and pond.
Adjacent to the main home are the originally three bay stables now with self-contained quarters, a two storey barn, pavilion and pond house.
Jellis Craig Mount Macedon agents Dominic Romeo and Tom May have a $3 million to $3.3 million guide for its December 8 auction.
This article was first published in the Weekend Australian. 
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Regional Victorian trophy home the Mill House on the market 

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Fasten your safety belts for a nasty downturn.
That's the warning from The Australian columnist Robert Gottliebsen.
"My fear is that on top of the APRA squeeze, we will have royal commission recommendations and then a series of class action court cases against banks.
"Combined, they will deepen and extend the credit squeeze.
"If the vicious downward spiral was broken today there would be minimal damage.
"But the squeeze looks like not only continuing but getting worse.
"If that happens, fasten your safety belts for a nasty downturn," he wrote earlier this week in the national newspaper.
Robert Gottliebsen says the credit squeeze juggernaut is being driven by the regulators, led by APRA.
He says bank chief executives, bank boards with greatly reduced power and the local bank branch managers are scared by what they describe in low tones as the APRA “Gestapo”.
"There is no doubt that APRA is the main force behind the credit squeeze.
"Unless much clearer boundaries are drawn, APRA, aided by the royal commission, will drive house prices lower and lower and construction rates will fall."
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Bank lending squeeze heading for nasty property and construction downturn: Robert Gottliebsen

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There are four indicators to focus on to determine home price trends over the next six months, according to CBA analysis. 
Housing finance demand, auction clearance rates, foreign residential demand and consumer sentiment about price expectations will be key considerations across the market as CBA Global Markets Research forecasts prices are likely to continue to deflate from record highs.
“The evidence suggests that dwelling prices will continue to deflate in the very near term,” said CBA Senior Economist Gareth Aird.
“There will be significant variations between capital cities and indeed suburbs within the same cities, but the broader trend should be one of continuing mild price declines.”
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Source: Commbank Research
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Source: Commbank Research
What about interest rates?
As long as the downturn in the housing market remains divorced from the broader economy, which continues to perform relatively well, the Reserve Bank of Australia (RBA) will continue to signal that that cash rate is “more likely to go up than down”, Aird said.
Changes in mortgage rates impact the demand for credit, which is captured in the flow of new lending.
New lending is driven by the supply and demand for credit, Aird explained, and the latest Australian Bureau of Statistics (ABS) data indicated the flow of housing credit continues to fall and the pace of the decline has accelerated.
“Credit to investors has been trending down for the past one-and-a-half years, but it’s the shift downwards in lending to owner-occupiers that’s behind the recent acceleration,” he said.
Tighter lending standards have played a part, but they “are not the primary driver of the acceleration in the downward trend of housing finance”.
“Rather, the demand for credit has declined because momentum in the market has come off and household expectations of property price appreciation have declined.”
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Source: Commbank Research
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Source: Commbank Research 
Auction clearance rates
After strong gains in home sale prices in many parts of Australia over the past five years, the country’s auction clearance rate has been on a downward trend throughout 2018, dipping recently to between 40-45%.
“The latest auction clearance rates imply that dwelling prices in Sydney and Melbourne will weaken further over the very near term,” Aird said.
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Source: Commbank Research
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Source: Commbank Research
Foreign demand
Foreign investment in Australian property has waned over the past two years, after a lift in state government-levied stamp duty to foreign investors and tighter capital controls out of China.
“The decline in foreign investor demand is consistent with a further easing in dwelling prices over the near term,” Aird said, and currently there’s “no evidence to suggest a rebound in foreign investor demand”.
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Source: Commbank Research
Great expectations
Consumer sentiment surveys have proved to be a “useful near-term indicator of the annual change in dwelling prices”.
However, Aird explained the self-fulfilling aspect: “If households expect prices to weaken, then demand for credit will fall and prices will correct lower. The reverse is also true when households expect price growth to accelerate.”
Currently, house price expectation indicators point to dwelling prices continuing to deflate over the near term, he said.
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Source: Commbank Research
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Source: Commbank Research
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Source: Commbank Research
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The top four indicators driving home prices across Australia: CBA

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Rick Otton, the Australian property spruiker posted 40 videos on YouTube giving potential clients insights on doing deals on the eve of being fined a record $6 million for misleading conduct.
Otton has been seeking investors to buy into overseas real estate, <a href="https://www.youtube.com/watch?v=jszV6gJs5bI" target="_blank">including Athens.</a>
The Federal Court has <a href="/news/18-million-fine-after-rick-ottons-property-mentoring-bootcamps-ruled-an-expensive-waste-of-money-federal-court">imposed­ an $18 million fine</a> on Otton’s company We Buy Houses Pty Ltd.
About 2000 people across Australia paid Otton $3000 to attend boot camps between 2011 and 2014.
Otton presents himself as a self-made multi-millionaire property investor and real estate consumer advocate.
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Some 700 people paid up to $26,000 each for individual mentoring.
They had been lured by Otton’s buyer of buying a home for $1.
Some $20 million­ was raised by Otton before the Rod Sims at the Australian Competition and Consumer Commission began legal action against Otton and We Buy Houses Pty Ltd alleging false or misleading conduct.
The Telegraph wrote he now spends much of his time travelling in the UK, Spain, and Greece.
“We will be bringing this judgment to the attention of authorities overseas,” Sims said.
Sims told 2GB's Ross Greenwood that Otton would raise up people’s hopes, then “dash them and left [sic] them out of pocket”.
His recent videos on YouTube includes a 2002 ABC documentary on him. 
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Property spruiker Rick Otton turns attention to investors in Athens Riviera

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EXPERT OBSERVATION 
The expected bounce in employment appeared in the October Labour Force Survey with a 32.8k rise.
The market median was for 20k. However, just as we saw in September, the mix was again positive with a 42.3k rise in full-time and a small 9.5k decline in part-time employment. In addition hours worked rose 0.3% following on from a 0.4% gain in September.
<a href="https://www.propertyobserver.com.au/images/2018/11/15/westpac%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/westpac%201.jpg" alt="">
 
Source: Westpac IQ
Perhaps more important is the continuation of the trend improvement in unemployment.
Sure, in the month unemployment was flat at 5.0%, but this is a good result seeing as the 0.3ppt drop in unemployment to 5.0% in September was due to a large drop in participation rather than a strong employment print.
As such there was always a risk the participation rate would bounce this month. Participation did rebound this month, but the 0.1ppt rise to 65.6% still left it under the 65.7% print in August.
<a href="https://www.propertyobserver.com.au/images/2018/11/15/westpac%202.jpg" target="_blank">Click here</a> to enlarge
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/westpac%202.jpg" alt="">
Source: Westpac IQ
Last month suggested that you need to take a holistic view of the Labour Force Survey and accept that some of the monthly volatility is associated with the survey groups being rolled into, and out of, the sample. This meant that while the 5.6k print (revised to 7.8k) on employment was too soft compared to underlying momentum, the fall in unemployment to 5.0% was also too aggressive. As such Westpac was forecasting a bump in employment in October and also a rise in unemployment (to 5.1%).
The fact that employment had a robust rise in October, and the unemployment rate was flat due a modest rise in participation, suggests the trend decline in unemployment remains in place. We had been forecasting that unemployment would end the year around 5.1%. Based on the current trend, it is more likely to be around 5.0%, if not below. It is only our expectation for participation to drift back up to 65.60% (currently 65.56%) that is holding unemployment at 5.0% at year end.
In terms of risks for November, the ABS notes that the outgoing sample group has the same employment to population group as the sample average, so by itself, the rolling of that group will not impact employment. However, that same group has a higher unemployment rate compared to the sample average so rolling that group out will lower the sample average. All else held equal, this presents downside risk to our unemployment forecast for November.
<a href="https://www.propertyobserver.com.au/images/2018/11/15/westpac%203.jpg" target="_blank">Click here</a> to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/westpac%203.jpg" alt="">
Source: Westpac IQ
For a few months we have noted the robust labour market conditions in Victoria where unemployment had fallen to be almost on par with NSW (the national low for a large state). The last time this happened was when Victorian unemployment was on a rising trend. This matters because Victorian wages have been more responsive to changes in labour market conditions than the other states but especially compared to NSW. This month unemployment fell 0.1ppt to 4.5% in Victoria while it was flat in NSW at 4.4% (a 10 year low for this state). So Victoria continues to narrow the gap to NSW in terms of unemployment suggesting we need to keep a close eye on Victorian wages going forward.
<a href="https://www.propertyobserver.com.au/images/2018/11/15/westpac%204.jpg" target="_blank">Click here</a> to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/westpac%204.jpg" alt="">
Source: Westpac IQ
By state, the largest gains in employment were in NSW (+16.3k following +1.1k in September) while Victorian employment fell (–3.5k after a robust +20.7k). It is the ongoing trend decline in Victorian participation that has been a key driver of falling national unemployment hence we are a little nervous about following this trend to generate a sub 5% unemployment rate by end 2019. Victorian female participation has trended below female participation in NSW, a very rare event. In that regard, while we would expect to see female participation rise in Victoria, we have to acknowledge that female participation could ease in NSW from its current record high level.
<a href="https://www.propertyobserver.com.au/images/2018/11/15/westpac%205.jpg" target="_blank">Click here</a> to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/15/westpac%205.jpg" alt="">
Source: Westpac IQ
Employment fell again in Qld (–3.2k following –11.9k in September) and unemployment rose 0.3ppts to 6.3. Meanwhile, the recovery in the other mining state, WA, continues with a 3.1k lift in employment (+3.3k in September) while the unemployment rate fell again by 0.3ppt to 5.7%. This is the first time WA unemployment has been below 6.0% since January 2018.
Overall, we emphasise the need to look through the monthly volatility in the Labour Force Survey and focus on the broader trends in the labour market. The pace of employment growth has eased back from the 4.3%yr peak in 2017 to 2.5%yr in October and the six month annualised pace is also 2.5%. Both seem about right compared to leading indicators if you take into account the employment overshoot through 2017/2018. As such, while we do expect participation to trend higher, the rising trend in female participation may have come to an end (for now) just as male participation has stabilised.
The October survey is a sound update and it increases the risk that the unemployment rate could end this year with a 4 handle.
Justin Smirk is senior economist at Westpac.
You can find the complete chart pack <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2018/November/Labour-FI_chart_packOct18.pdf" target="_blank">here</a>. 
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Employment stats show continuing robust trend: Westpac's Justin Smirk

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Frasers Property Australia were recently fielding enquiries from tenants looking to set up shop in Ed.Square, their so-called game-changing mixed-use community set to be the new urban heart of south west Sydney.
More than 200 homes had been sold at Ed.Square by August. 
It signalled in August the next apartment building had been fast-tracked for release.
The more recent homes release, Chelsea Pocket, offering a collection of 1, 2, 3 &amp; 4 bedroom designer townhomes, were part of the VIP sales launch last month. 
Coles and Liquorland were confirmed as tenants in the future town centre
Frasers Property secured leases over 25% of the available 25,000sqm of retail space in stage one of Ed.Square Town Centre just weeks after the leasing campaign kicked off.
Ed.Square was poised to become the new social centrepiece for south west Sydney, according to Tim Moore at Frasers Property Australia.
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Stage one of Ed.Square Town Centre is expected to open in early 2020. On completion of stage two, of up to an additional 15,000sqm, the development will comprise 40,000sqm of retail space with over 120 shops integrated with a landmark 68-metre high residential tower atop the town centre.
Some 1,800 homes were envisaged in the Frasers Property community.
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Ed.Square poised to become the new social centrepiece for south west Sydney

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

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Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Staff reporter

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