Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
The housing market will strengthen further - probably from 2014 - with gains of between 5% and 7% tipped by Australian Property Monitors’ (APM) chief economist Andrew Wilson.
However, Wilson is sticking with his recent 2013 forecast made at the start of the year of a 3% to 5% rise in house prices over 2013.
“I still think that’s the case, 5% to 7% is the next increment but I don’t think we will see that this year,” he told The Australian Financial Review.
RP Data-Rismark has dwelling values across the eight capital cities up 2.3% for the first four months of the year.
ABS preliminary figures for the March quarter recorded just a 0.1% gain in its capital city house price index - for detached houses only.
Wilson bases his higher post-2013 forecast on historical trends, where lower interest rates driving up house prices, but with a small time lag.
He also made the interesting observation that a rise in interest rates could have spurred on a “boost” in house prices in growing markets like Sydney, Perth and Darwin.
A rise in interest rates, he says, spurs on some people to act over fears rates will rise again.
Wilson wrote in the February APM housing market report that Australia’s housing markets started 2013 “encouragingly with solid indications of rising buyer activity and increased confidence from sellers”.
“The revival of Australia’s housing markets in 2012 has been confirmed as leading indicators such as auction clearance rates point to a market heating up.
“Australia’s housing markets are off and running in 2013, building on the buyer momentum generated through 2012 but now translating to more generalised and comprehensive market outcomes,” he said.
</body></html>

lschlesinger-FZcF9M3vE6

House prices could rise up to 7% in 2014: APM’s Andrew Wilson

<html><body>
The metamorphosed Butterfly House, on Military Road, Dover Heights, didn't sell when auction this week through BHR Estate Agents Edgecliff.
There was a $5.825 million top bid when it was offered through Daniel Baran and Reece Coleman who were initially expecting above $6.5 million for the house.  There were two registered bidders.
Daniel Baran last sold in late 2010 for $5.05 million.
Its been fully renovated since purchase.
Its now being marketed as one of Sydney’s most extraordinarily unique and beautiful homes - on the market after receiving the final finishing touches.
<img alt="butterflymarch14one1" src="/images/stories/2013/03/butterflymarch14one1.jpg" width="470" height="506">
"More than a decade after the well-known Dover Heights residence broke new ground with its curved walls and glass structure, the home is complete with the most advanced home automation, a world-class cinema and fittings that give this property international qualities rarely seen in this country," Baran says.
Spread over six split levels, the location has views over both the ocean and harbour.
Five bedrooms are in the eastern wing while the living areas take full advantage of vistas towards the Opera House, city skyline and Bridge.
The residence’s north facing aspect allows light to flow throughout the home, along with the natural ventilation system.
<img alt="butterflymarch14two2" src="/images/stories/2013/03/butterflymarch14two2.jpg" width="470" height="313">
It was 1996 when the architect Ed Lippmann received a request to create a home with “no straight lines” - one he did not believe was serious but the client was a firm believer in feng shui, Chinese laws governing how spatial arrangement affects energy flow.
</body></html>

jchancellor-FAypfDUnLy

Butterfly House at Dover Heights fails to find wings at auction

<html><body>
Sydney corporate law firm Gilbert and Tobin have signed a memorandum of understanding with Lend Lease to take 9,500 square metres of space in International Towers Sydney at Barangaroo South.
It will take the four stories above Westpac, in the second of three towers at the development.
Lend Lease says the memorandum shows the confidence banking, financial services and legal organisations have in the development.
The understanding now means more than 80% of tower two’s space is leased.
It is the first legal tenant to enter the $6 billion development.
Westpac and KPMG were named in June last year as the first confirmed tenants in the foreshore development. Lend Lease will also will taking up space.
The latest leasing agreement means Lend Lease can continue on with the third tower as financial backers required pre-leasing to hit 85% before undertaking further rental negotiations on the third tower.
The Australian Financial Review reports that the leasing deal is worth up to $9 million per year.
</body></html>

awalsh-7Ub9EypybQ

Sydney law firm Gilbert and Tobin to move to Barangaroo South

<html><body>
Confidence about the housing market has surged to its highest level in almost three years, with nearly one in two Australians (49.8%) now expecting house prices to rise over the next quarter, according to the latest Home Finance Index commissioned by the Commonwealth Bank and the Mortgage and Finance Association of Australia (MFAA). 
This is the highest confidence level since the July 2010 survey when 52.2% of those surveyed expected house prices to rise over the following quarter and a substantial rise from the 28.9% who were optimistic in the September 2012 quarter and double the number in March 2012 (25%).
The results of the March 2013 survey, carried out by CoreData, are based on the sentiments of 1,361 home buyers and prospective home buyers. 
A high proportion of March 2013 respondents – 40.4% - expect no changes in house prices over the coming quarter, but just one in ten expect house prices to fall, the lowest percentage expecting a decline in prices since March 2010. 
Click to enlarge
<a href="/images/stories/2013/05/confidencemay9one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/05/confidencemay9onethumb.gif"></a>
Source: CoreData
Other findings of the survey also point to greater confidence about the housing market including that 83% of those surveyed who own homes believing now is a good time to buy an investment property compared with 78% in September 2012 and 74% in March 2012.
There was also a surge in the number of respondents who plan to change or upgrade their home. 
More than three-quarters (77.2%) of those respondents who owned a home said they planned to change or upgrade their home compared with less than two-thirds (62.4%) in the September 2012 survey and 67% in March 2012. 
Among prospective first-home buyers, 48.8% of believe now is a good time to buy compared with 42.2% in September 2012 with confidence rising strongly in NSW (from 40% to 50%), South Australia (40.6% to 51.9%) and to a lesser extent in Victoria (39% to 43.8%). 
More than three-quarters of borrowers (76.9%) said they were ahead of their mortgage repayments with only 16.5% saying they were struggling to make payments and 5% admitting to making late payments. Just 1% said they were more than a month behind in their mortgage repayments.
The rising confidence about the housing market came at the same time as people’s financial situations improved combined with a rise in the number of active buyers looking for a home loan over the next year. 
Nearly a third of respondents (30.8%) said their financial situation has improved over the last year – a rise of 14% over March, 2012. 
One in five (18.9%) said they were in the market for a home loan over the next year, up from 12.7% a year ago. 
Mortgage &amp; Finance Association of Australia chief executive officer Phil Naylor says the survey shows that the property market is “definitely recovering, with sentiment of both first home buyers and investors improving dramatically”. 
A similar sentiment is echoed by Kathy Cummings, head of third party banking at the Commonwealth Bank, who says the property market is all about confidence. 
She says the survey confirms that “good times are ahead, especially as interest rates continue to be at historic low levels, creating a situation where mortgage repayments are more affordable than rents in many areas”.
</body></html>

Housing market confidence rises to highest since July 2010: CBA/MFAA index

<html><body>
The last time that money market interest rates were at current levels was 53 years ago. In March 1960 the minimum interest rate applied on loans accepted by authorised dealers on the short term money market was 2.69% with the maximum rate of 3.38% and an implied weighted average rate of 2.70%.
Certainly very low interest rates were common through the 1940s, 1950s and most of the 1960s. For instance in 1952, the 3-month commercial bank deposit rate was just 0.71 per cent and even in 1956 it had lifted to only 1.25%. Housing loan rates held at 5.00% through 1959 and 1960. Trading bank overdraft rates were between 5.00-6.00% in the late 1950s/early 1960s.
All these gems of information are contained in the hardcopy Reserve Bank Statistical Bulletins of the era and the forerunner – the Commonwealth Bank of Australia Statistical Bulletins.
Of course a key reason why interest rates were low was because wages and prices were under control. In the 1958/59 year, wages rose by 2.5%, retail prices rose by 2.6% and the consumer price index rose by 1.9%.
Do these growth rates seem familiar? Wages are growing by 3.4% currently with inflation around 2.5%. Certainly other indicators are a bit different with the economy growing 7% in 1958/59, but slowing to 4.4% in 1959/60. And unemployment was hovering near 1-2% in the late 1950s/early 1960s.
So could a cash rate near 3.0% become the ‘new black’? If inflation sticks near 2.5% and if Aussies continue to apply a conservative approach to taking on debt, a new economic glory period could be ushered in, similar to that which existed in the 1950s.
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
</body></html>

cjames-5S2v74qSNK

A return to the 1950s "glory days" is on the cards: CommSec's Craig James

<html><body>
House prices rising unevenly, mortgage lending trending up among investors and upgraders but not among first-home buyers, building approvals volatile but trending down and the world economy slowing down with the euro zone facing unemployment strife.
The latest edition of the comprehensive RBA chart pack provides an indication of the range of different factors the monetary policy committee had to take into account when deciding to cut the cash rate to a historical low of 2.75%.
Of most interest to investors and homeowners will be the improving housing market picture with house prices trending up fairly strongly though unevenly in Sydney, Melbourne, Perth and Brisbane:
<img alt="rbahousepricesmay9one" height="379" width="470" src="/images/stories/2013/05/rbahousepricesmay9one.gif">
However, building approval figures, an indication of future demand for new homes and apartments, remain volatile with an overall downward trend in evidence, particurlarly in the key detached new housing market.
RBA governor Glenn Stevens reported only a “modest firming in dwelling investment” in his post-decision monetary policy statement on Tuesday:
<img alt="rbabuildingapprovalsmay9one" height="379" width="470" src="/images/stories/2013/05/rbabuildingapprovalsmay9one.gif">
However, the mortgage market appears to be picking up slowly, but not among the key first-home buyer market where changes to state incentives favouring new homes over existing homes appears to be having a dampening effect:
<img alt="rbaloanapprovalsmay9one" height="377" width="470" src="/images/stories/2013/05/rbaloanapprovalsmay9one.gif">
The pick-up in mortgage lending is being driven by low variable mortgage rates and the record low cash rate, though the graph below shows rates are still off their 2009 variable rate lows, a reflection of banks not passing on prior rate cuts in full:
<img src="/images/stories/2013/05/rbavariableratesmay9one.gif" width="470" height="396" alt="rbavariableratesmay9one">
With lenders continuing to cut their fixed-rate offerings to try and lock in more conservatively-minded borrowers, three-year fixed-rates are at historical lows as this graph shows:
<img src="/images/stories/2013/05/rbafixedratesmay9one.gif" width="470" height="392" alt="rbafixedratesmay9one">
The chart pack also shows that global conditions are declining with the world economy set to expand by just 3%, though conditions are better for Australia’s trading partners:
<img alt="rbaworldgdpmay9one" height="433" width="470" src="/images/stories/2013/05/rbaworldgdpmay9one.gif">
This graph shows the trend of rising unemployment in the eurozone, but employment conditions improving in the US and to a moderate extent, Japan.
<img alt="rbaunemploymentmay9one" height="383" width="470" src="/images/stories/2013/05/rbaunemploymentmay9one.gif">
Lastly, much of the commentary surrounding the decision to cut the cash rate has been about muting the effects of the high Australian dollar on exchange-rate dependent industries like retail, trade and manufacturing.
This graph shows the extent the currency has appreciated against the US dollar, Euro and Japanese Yen in recent years, though now off its peaks against the US dollar and euro:
<img alt="rbaexchangeratesmay9one" height="392" width="470" src="/images/stories/2013/05/rbaexchangeratesmay9one.gif">
</body></html>

RBA paints mixed picture of local and global conditions, but with house prices and mortgage lending trending up

<html><body>
A suitor has not emerged for Australand in the month since the property developer closed its data room, the Australian Financial Review has noted in its Street Talk column.
The data room refers to confidential information that is made available to selected interested parties, who may or may not make a bid for the Australand business.
Three weeks ago Australand boss Bob Johnston was talking of a deal being finalised within six weeks.
Australand rejected a $3 billion non-binding bid by GPT for its commercial and industrial property businesses – but not its residential property business - in December last year.
The last word on the bidding process was delivered by Australand chairman Oliver Lim and deputy CEO of Singapore-based CapitaLand, the 60% majority shareholder, on April 22 at the Australand AGM.
Lim noted at the AGM that Australand shares were trading at a signficant discount to their net asset backing making its 60% holding a potentially attractive investment option for a single institutional share trade.
He said "alternatives" to the GPT offer would be explored that may or may not result in a proposal for shareholders.
GPT was expected to make a higher offer for Australand in February after its annual results were published, but has yet to do so, perhaps caught up in resolving its <a target="_blank" href="/news">class action lawsuit with a group of investor</a>, only settled today with a $75 million conditional agreement.
A month before, in January, CapitaLand announced it would undertake a strategic review of its investment in Australand with a possible block sale of its shares one possibility.
The last official word on a better offer for Australand was delivered by GPT chief executive Michael Cameron, who said at the group’s annual results briefing that he wouldn’t be talking about Australand but that GPT was “committed to advancing a proposal that is in the best interests of Australand and GPT securityholders”.
Street Talk speculates that a block trade of CapitaLand’s stake would “test the market’s appetite for listed real estate”.
The Australand share price has been on an upwards trajectory since GPT’s failed December bid rising from around $2.85 to currently trade above $3.64.
</body></html>

Bid trail for Australand goes cold as no fresh GPT offer emerges

<html><body>
Sydney house prices have increased more than any other capital city so far this year, rising 2.9% in the year to date, according to RP Data.
It was closely followed by Melbourne at 2.5% so far this year.
Over the last 12 months Perth has increased the most, at 4.8%, but a drop of 1.8% in the last month has put the year to date growth at 2.8%.
<img alt="rpdatacapitalsmay7one" src="/images/stories/2013/05/rpdatacapitalsmay7one.jpg" width="470" height="257">
<img alt="rpdatacapitalsmay7two" src="/images/stories/2013/05/rpdatacapitalsmay7two.jpg" width="470" height="190">
</body></html>

Sydney house price growth greater than other cities this year: RP Data

<html><body>
Anyone driving down the Chapel Street retail strip last week could have been forgiven for wondering if there was a run on the bank when a large crowd gathered outside the NAB branch.
In fact they'd gathered to attend an auction of the bank's premises.
Fitzroys agent Charles Emmett who alongside colleague David Bourke marketed the two-storey premise at 600 Chapel Street estimates a crowed of around 200 people gathered to watch the property sell under the hammer to a private Melbourne investor for $12.825 million.
<img alt="nabmay9one" height="312" width="470" src="/images/stories/2013/05/nabmay9one.jpg">
“A lot of people were behind the photographer,” he tells Property Observer.
“It was a very big crowd.”
There were close to 160 enquiries registered over the course of the auction campaign and six under-bidders on the day.
Emmett says the price achieved, representing a yield of 4.6%, was above expectations with the building bringing in total income of $591,686 per annum.
The premises have been occupied by NAB since 1951 and last sold for $3.59 million in 1997.
The sale price equates to a compound annual growth rate of around 8%.
The bank occupies the ground floor of the property on five-plus-five year lease currently returning $506,115 per annum plus GST.
The first floor comprises commercial offices and is leased to Jagen Pty Ltd on a four-year deal beginning February 2010, and returning $85,571 per annum plus GST.
Emmett says he has sold quite a few retail premises on prominent retail strips since the start of the year including in the CBD, in Armadale, Camberwell and Prahan.
“There has been a surge in demand for retail investment property,” he says.
“Demand for retail property within close proximity to South Yarra’s high density ‘Forrest Hill’ precinct is at an all-time high as investors seek to leverage their returns off the strong local population growth fuelled by the dozens of new apartment towers in the area,” he adds.
In September last year, a refurbished two-storey retail strip property in Sydney’s Hurstville leased to NAB sold for $9.01 million at auction on  yield of 5.85%.
Also in September last year, a historic Parramatta bank, tenanted by Westpac, <a target="_blank" href="https://www.propertyobserver.com.au/commercial/historic-parramatta-bank-sells-for-%2471-million/2012090956450">sold for $7.1 million to a Hong Kong-based investor.</a>
A more recent bank branch sale was the premises of an <a target="_blank" href="/news">ANZ bank branch in the Victorian heritage country town of Korumburra</a> in South East Gippsland has sold at auction today for $462,000.
It had pre-auction hopes of around $325,000 with bids starting $300,000.
There were around six bidders and the property sold on a yield of around 5.2%.
</body></html>

NAB branch auction brings the crowds to Chapel Street and sells under the hammer for $12.825 million 

<html><body>
Fast car driving - sleek and modern - public transit - photos waiting - blood and glass - three points of rain - carpet lining - seats reclining
Clever words on smooth tongue talking - shove it brother - just keep walking.
- lyrics to Just Keep Walking, INXS 1980
<a target="_blank" href="https://www.walkscore.com/">Walk Score</a> measures the number of typical consumer destinations within walking distance of a dwelling, with scores ranging from 0 (car dependant) to 100 (most walkable).
Recent overseas studies indicate that properties with above-average levels of walkability command a premium over homes with average levels of walkability.
In the United States, for example, an additional one point increase in a Walk Score is associated with a potential $3,000 increase in property value.
Our recent study of Brisbane also found a very strong correlation between a suburb’s Walk Score and a property’s investment performance.
Housing markets attach a positive value to living within easy walking distance of public transport, shopping, services, schools and quality open space.
Furthermore, an investment property value premium for walkability seems to be higher in more populous urban areas and in those locations with extensive public transit access, suggesting that the value gains associated with walkability are greatest when people have real alternatives to living without needing to use their car for most commutes.
It should be stressed that Walk Score’s measure of walkability captures not just the benefits associated with walking, but with greater accessibility generally.  For example, places with higher Walk Scores tend to have more mixed uses &amp; better transit services, and much of the value measured here may be attributable to those assets.
The average Walk Score for the greater Brisbane area is just 49 out of 100.
<a href="https://matusikmissive.com.au/wp-content/uploads/2013/04/Walkscore-Missive-hyperlink.pdf" target="_blank" title="Walk Score">Our study</a> across 24 Brisbane suburbs found that places with higher walkability achieved higher prices; grew faster in value; attracted higher rents (&amp; rental returns); had fewer vacancies &amp; less properties listed for resale.   Resale listings also sell faster in high Walk Score areas.
Everyone thinks their new development or property is better located than the next.  Tell them all to shove it brother, check out Walk Score and make up your own mind.
P.s. INXS’s debut self-titled album, for mine, was their best.  I am getting nostalgic in my old age and I fondly remember seeing INXS, Dragon (now I am showing my age) and Aussie Crawl on Cronulla Beach in the early 1980s. 30,000 people were rumoured to be there. It was INXS’s first big audience and Michael Hutchence sang with his back to the crowd. Hard to believe these days, hey!
Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a target="_blank" href="https://www.matusikmissive.com.au/">Michael’s Blog</a> or follow him on <a target="_blank" href="https://www.facebook.com/ThinkMatusik?fref=ts">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
</body></html>

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News