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>
A-REIT total returns were substantial over the year to 31 March 2013.
Listed property returned 30.7%, outperforming equities by 10.7%. Over three years listed property returned 11.7% p.a. Industrial property was the strongest performing sector over three years at 20.4% p.a.
A-REITs have differences in their composition and their property portfolios. Some specialise in sectors of the property market such as Westfield Retail Trust and Westfield Group in retail, Commonwealth Office Property Trust in office and Goodman Group in industrial.
Diversified groups include GPT, Stockland and Mirvac. They have exposure in combinations of retail, office, industrial or residential development land.
Many of the highest quality assets are owned by these groups.  Operating performance of the assets is strong as indicated in the chart below.
Click to enlarge
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Performance across the sectors was diverse over the three years to March 2013.
Underperformance by the office sector over one year reflects recent dampening confidence in rental growth prospects.
Retail has underperformed over three years reflecting fears of online retailing and subdued consumer confidence. Recovery has emerged in retail in the past year.
<img alt="kenatchisonapril24twothumb" height="170" width="470" src="/images/stories/2013/04/kenatchisonapril24twothumb.gif">
Strong returns for industrial property reflected especially the performance of Goodman Group which has significantly expanded into North and <place>South America</place> and established alignments with major global real estate investors.
Diversified trusts underperformed over three years reflecting heavy exposure in retail property and in residential property development.
Ken Atchison is managing director of <a target="_blank" href="https://www.atchison.com.au/">Atchison Consultants</a>.
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A-REITs deliver strong results and beat equities: Ken Atchison

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Units in Brisbane, Hobart and Darwin are spending significantly less time on the market, according to the latest information from RP Data.
Figures for the week ending April 21 show Brisbane units are spending 69 days on the market before selling, down from 80 days the week prior.
Hobart units are spending 62 days on the market before selling, down from 83 days the week prior.
Meanwhile, Darwin units are taking 54 days to sell, down from 77 days the week prior. Sydney and Canberra are the quickest selling cities.
<img src="/images/stories/2013/04/rpdatatimeonmarketapril23one.gif" width="470" height="322" alt="rpdatatimeonmarketapril23one">
Click to enlarge
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‘Time on market’ (TOM) is the average number of days between when a property is first listed for sale and the contract date.
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Sydney and Canberra the quickest sellers, but Brisbane, Hobart and Darwin units speed up with less time on market: RP Data

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Here is a list of ten things not to do when you are trying to buy a home.
1. Buying a home because you're fed up of looking or buying the first one you see.
2. Not going back numerous times to see if the property is affected by external elements such as noise pollution, bad neighbours or their pets, smells etc.
3. Not telling the agent to "keep you in the loop" if the property looks like selling. Ask for a contract for sale and then the agent will have to inform you if another buyer places an offer.
4. Looking at hundreds of homes in your local print magazine or online and not physically inspecting them. Never judge a book by its cover.
5. Not doing a comparable price sold analysis. This goes without saying.
6.  Telling an agent what your top budget is for a property because chances are they will make you spend all of it.
7. Not preparing and planning your property inspection list for the Saturday property run. End up missing a lot of open inspections due to wasted times and non-suitable viewings. Ultimately, missing the inspection of the home you would have bought.
8. Not being able to have some foresight and imagination with what you can do with a home to change it and make it perfect for you. Add some value in the process.
9. Trying to time the property market and to buy a home at its lowest point. Good luck!
10. Not doing a building and pest inspection or strata inspection report.
Robert Skeen is a buyers' agent and director of <a href="https://www.skeenpropertybuyers.com.au/" target="_blank">Skeen Property Buyers</a>.
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Ten things not to do when buying a home

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Sydney’s Westmead Rehabilitation Hospital has been sold for $30 million, in a deal involving St Andrews Healthcare, Pulse Health, and Generation REIT.  
Located at 7 Coleman Street, the 61-bed private rehabilitation hospital is located in western Sydney’s Merrylands, three kilometres south of Parramatta and within close proximity of the Westmead Public Hospital and Westmead Private Hospital.  
This is the third private hospital that Colliers International Healthcare &amp; Retirement Living has sold in twelve months.    
Shane Nicholson of Colliers International, who represented the vendor St Andrew’s Healthcare Pty Ltd in the transaction, said the sale was significant because private hospitals are such tightly held assets.  
“They rarely come onto the market, and when they do, they are often sold in off-market transactions,” he said.  
“There is high demand amongst buyers for these types of assets because Australia’s healthcare sector is such a solid and desirable sector for investors to be in. Asian REITs have also demonstrated an appetite for these assets.  
Mr Nicholson said that while private hospitals were generally sought after, the Westmead Rehabilitation Hospital was considered to be a particularly good asset because it is “one of New South Wales’ finest specialist rehabilitation hospitals”.  
Mr Nicholson said part of the sale had involved unwinding the existing leasing arrangements, which was negotiated over the past couple of months.  
“A new lease arrangement between publicly listed companies Pulse Health and Generation REIT has now been signed, resulting in the sale of the freehold interest of the property for $29.86 million, which represented a yield of 8.75 per cent to our client, St Andrew’s Healthcare Pty Ltd,” he said.  
Mr Nicholson said given the demand amongst buyers for private hospitals in Australia, the sale was a big win for both Generation REIT and Pulse Health.  
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Sydney’s Westmead Rehabilitation Hospital sells for $30 million reflecting 8.75% yield

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HSBC Australia chief economist Paul Bloxham says there is “some room for [house] prices to increase” in his latest note on the performance of the Australian economy.
“After a period of falling housing prices in the 18 months to May 2012, there is also some room for prices to increase, although excessive price growth would be a worry, given housing prices are already quite high,” writes Bloxham in his latest Downunder Digest.
The digest notes the pick-up in retail sales in January and February and that consumer sentiment is around two-year highs.
Bloxham expects that “below neutral monetary policy should support a consumer revival” freeing up cash for the majority of borrowers who have variable rate mortgages.
“Low rates have boosted consumer cash flows, as around 90% of mortgages are on floating rates and RBA cuts have largely flowed through to effective rates.
“Low rates are also encouraging portfolio shifts from deposits to equities and housing, which is also boosting household wealth. Rising household wealth encourages consumption and less saving,” Bloxham says.
Bloxham expects a recovery in retail sales to be supported by an upturn in housing construction, “which already appears to be underway”.
“As more houses are built, we expect demand for consumer durables to rise to fill these houses.
“While on-line sales have been a key source of competition for domestic retailers in recent years, durable goods are still largely purchased through traditional shop front retailers. We expect an upturn in sales of durable goods to support the local retail sector.
"Hence, our view remains that ‘Australian retailers are to see a better 2013’," Bloxham says.
The rosier outlook for retailers is driven by low rates and less impact from the Australian dollar.
“In addition to the effect of low rates, we also expect that the Australian dollar is no longer putting as much downward pressure on local retail sales as it had been in 2010 and 2011,” says Bloxham.
“Back then, the strong Australian dollar appreciation had encouraged very strong growth in overseas departures of Australian residents, as more people chose to go on international holidays.
"This meant more dollars leaking offshore, as there was less domestic travel and more spending abroad.
“But growth in overseas departures has slowed. While it is still a drag on local spending, the drag is easing. In this way, the Australian dollar effect on growth is starting to wear off.”
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“Some room” for house prices to increase as low interest rates support “consumer revival”: HSBC’s Paul Bloxham

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Abacus Property Group has bought 33 Queen Street, Brisbane, which includes 199 George Street, for $34 million.
Its represents an initial yield of 9.4%, excluding transaction costs.
The 33 Queen Street building is a historic seven-level building connected to 199 George Street, a recently completed office and retail tower.
The heritage building has a 3,313 square metre net letable area including 1,290 square metres of retail space leased to Westpac Bank.
Westpac has occupied the space for more than six decades having sold it for $11.165 million in 2004.
The building is almost fully let.
The 10-storey 99 George Street has 2,769 square metres of A grade commercial office space 90% occupied.
Its tenants include Members Equity Bank, First Commercial Bank of Taiwan and the Consulate of Italy.
"The property represents an attractive acquisition being immediately accretive to earnings and an asset that exhibits significant core-plus opportunities that can be capitalised on in the short term," Dr Frank Wolf, managing director of Abacus Property Group said.
"Abacus continued to have access to substantial acquisition capacity which we plan to utilise in the near future in similarly accretive opportunities," he said.
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jchancellor-FAypfDUnLy

33 Queen Street, Brisbane sells for $34 million to Abacus

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Western Australia has once again been named as the country's leading state when it comes to economic activity, and is likely to stay there for a while, according to the latest CommSec State of the States report.

The report has pinned the country's two leading mining economies, Western Australia and the Northern Territory, ahead of the rest of the states and territories by a wide margin.
While the rest of the states have their own strengths and weaknesses, CommSec chief economist Craig James said it isn't likely any will catch up to the resources-rich states within at least a year.
"The gap is very large between WA and the main states," he says. "The Northern Territory has the greatest potential, when you look at how close the two are together and how they share the spoils."
"It could be this year is when NT takes the top spot, but it's unlikely any other state or territory would in the next year."
The quarterly State of the States report measures each state on eight separate economic factors, and averages out performance among each.
And while WA and the NT are performing well, the report specifies both Tasmania and South Australia are underperforming, with both states suffering multiple economic weaknesses.
"Tasmania lags all other economies on seven of the eight indicators and is second weakest on the other indicator. A joint effort is required from the federal and state governments to lift the performance of the economy," the report stated.
In the report, James said the states and territories are splitting into three groups – the mining economies, the underperforming economies, and the middle economies.
For those at the bottom of the rung – Tasmania and South Australia – James said government intervention will "probably be necessary".
Without concerted action to boost economic activity, the risk is that a widening gap emerges between the strongest and weakest regions, entrenching problems over the medium and longer term.
Western Australia led the country in terms of retail trade, population growth and equipment investment as the resources boom continues, with the state also coming in second on economic growth, construction work and housing finance. It ranked third in unemployment and fifth in dwelling starts.
The Northern Territory topped four categories: economic growth, unemployment, dwelling starts and construction work. However, it has begun to lag in population growth.
Towards the east coast, the ACT was ranked as the third best performing economy, with strengths in dwelling starts. However, CommSec noted the gap between the ACT and New South Wales, Victoria and Queensland are smaller than the gap between the WA and NT.
"NSW is second strongest on unemployment, and third strongest on population growth," it said.
"Victoria is strongest on housing finance and dwelling starts. And Queensland has high rankings on equipment investment, construction work done and retail spending."
Across all states, real wages were positive. The ACT recorded the strongest growth at 2.6 percentage points, followed by Tasmania at 2.3 and Western Australia at 2.2.
Home prices increased in all states except in Hobart, down by 1.2%. The strongest growth was in Darwin, up by 7.3% and in Perth, up by 5.8%.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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pmcstafford-pr9eMARWoN

WA top state for economic activity as Tassie lags: CommSec

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Melbourne’s newest pedestrian laneway is open for business after Australand put the final touches on 357 Collins Street.
The reborn laneway, Fulham Place, has 1,800 square metres of retail which is fully leased and includes a 140-seat food court and dine-in restaurants.
Ground floor tenants include fashion label Thomas Pink, restaurant Vapiano, Crema Espresso Café, and Café Mesh, run by the proprietors of about 15 other café operations in Melbourne.
Lower ground retailers, around the food court, include Japanese store O-Bento, sandwich shop Nashi, café Basic Bites, Thai store Rock the Wok, popular burger joint Huxtaburger, Vietnamese store Roll’d, restaurant/Café Mr Banks, juice shop Feeling Fruity, JPG’s Shoe Repairs and convenience store Trafik.
The lane is closed to pedestrian traffic from 10am to 3pm.
The 22-level office building now offers 30,286 square metres of lettable office space, with 74% of that already leased to Commonwealth Bank with 13,543 square metres, telecommunications provider Service Stream with 7558 square metres, property investment group Growthpoint with 361 square metres on the top floor and investment group Wilson HTM with 770 square metres.
Almost the entire upper section of the building remains vacant including tenancies with access to exclusive outdoor terraces on the 12th and 15th storeys.
The building has been awarded a 5-Star NABERS energy rating and has extensive bicycle facilities and parking for 41 cars.
The energy efficiency is due to reduce outgoing costs normally associated with office tenancies with the total outgoings estimated at $102.5 per square metre including common area cleaning.
Energy costs in the building are expected to be less than half those of a 4-star awarded building.
The building was completed in late 2012.
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Finishing touches put on Melbourne's newest laneway off Flinders Lane

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Every month the Australian Prudential Regulation Authority (APRA) publishes monthly banking statistics which include, among other things, the total value of outstanding loans on the books of Australian banks for owner-occupied housing and investment housing.
This information is published individually for every bank operating in Australia.
As at February 2013, domestic banks had a total of $1.147 trillion in mortgages on their books; at the same time RP Data estimates that the total value of all housing in Australia was around $4.85 trillion.
Over the month, 66.9% of all outstanding mortgage debt was for owner-occupier homes compared to 33.1% for investment homes.
Outstanding loans mortgage debt accounted for 63.1% of all outstanding loans of domestic banks.
The housing finance data published by the Australian Bureau of Statistics (ABS) each month includes the aggregated data published each month by APRA for banks, however, it also includes figures for all authorised deposit-taking institutions (ADIs).
ADIs include banks as well as building societies and credit co-operatives.
<img alt="kusherapril19onethumb" src="/images/stories/2013/04/kusherapril19onethumb.jpg" width="470" height="180">
As mentioned, the total amount of outstanding mortgage debt to banks as at February 2013 was $1.147 trillion, to all ADIs it was $1.2 trillion.
The data shows that banks are overwhelmingly the most popular institutions for mortgages in Australia, accounting for 95.8% of all outstanding mortgages.
Of course, the banking sector in Australia is dominated by four major players: ANZ, Commonwealth Bank (CBA), National Australia Bank (NAB) and Westpac.
These four major banks, excluding CBA’s subsidiary BankWest but including Westpac’s subsidiary St George, hold 85.1% of all outstanding mortgage debt by banks operating in Australia and 81.5% of all outstanding mortgage loans to domestic ADIs.
These figures indicate that more than four out of every five mortgages in Australia are to either ANZ, CBA, NAB or Westpac.
<img alt="kusherapril19twothumb" src="/images/stories/2013/04/kusherapril19twothumb.jpg" width="470" height="179">
Over the past 12 months, the total value of outstanding mortgage debt to Australian ADI’s has increased by 6.0%.
This data set has been published from March 2002 onwards and this is close to the slowest rate of growth in outstanding mortgage debt on record.
<img alt="kusherapril19threethumb" src="/images/stories/2013/04/kusherapril19threethumb.jpg" width="470" height="180">
 
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Across all ADIs, 67.5% of outstanding mortgage debt is for owner occupation purposes compared to 32.5% of mortgage debt being for investment purposes.
What this data indicates is that investment borrowers are slightly more likely to go to a bank for a mortgage than they are to go to a credit union or building society.
Over the 12 months to February 2013, the total value of outstanding mortgage debt to Australian ADIs for owner occupation purposes has increased by 5.5% which is the slowest growth on record, compared to investment mortgage debt growing by 7.1%.
The higher rate of growth in outstanding mortgage debt for investment purposes reflects the broader ABS housing finance data which shows the value of finance commitments for investment purposes rose by 15.4% year-on-year to February 2013 compared to a 5.3% increase in commitments for owner occupation purposes.
The Reserve Bank (RBA) published some information in its recent Financial Stability Review, which supports the notion of slower growth in outstanding mortgages.
In the report the RBA specifically noted:
‘Contributing to the slower pace of credit growth is the fact that many households have been taking advantage of the lower interest rate environment to pay down their debt faster than required. Mortgage buffers – balances in mortgage offset and redraw facilities – are now estimated to be equivalent to around 14 per cent of the outstanding stock of housing loans (see graph below). When interest rates fall, not all borrowers reduce their mortgage payments, resulting in an increase in prepayment rates. The increase in the rate of prepayment as a result of the decline in mortgage lending rates since late 2011 is estimated to have reduced the growth rate of housing credit by around ½ percentage point over 2012. Measured a different way, in aggregate, households’ mortgage buffers are equivalent to around 20 months of scheduled repayments (principal plus interest) at current interest rates. This provides considerable scope for many borrowers to continue to meet their loan repayments even during a temporary spell of unemployment or reduced income. As with housing loans, households have also been paying off credit card debt; net repayments on personal credit and charge cards have been above average in recent years and balances on personal credit cards have also slightly declined since mid-2012.’
<img alt="kusherapril19fourthumb" src="/images/stories/2013/04/kusherapril19fourthumb.gif" width="470" height="407">
With borrowers paying off their loans quicker and having a greater ‘buffer’ sitting in their offset account it is no surprise growth in outstanding mortgage debt is at historic low levels.
Add into the mix, the fact that households continue to save around 10% of their disposable income and that the household debt to disposable incomes sits at around 150%, having plateaued over the past six year, and it is difficult to see how credit growth will return to previous levels in the foreseeable future.
This is despite the fact that we currently have a low interest rate environment and capital city home values have increased by 2.8% over the first quarter of 2013.
The challenge for the banking sector will, of course, be: how can banks attract new customers to lend to when this air of caution exists surrounding spending and high levels of debt?
The caution and aversion to credit is further highlighted by the fact that the RBA’s credit card statistics for February 2013 show that the average outstanding loan balance on credit cards fell by -2.5% over the year, the greatest year-on-year fall on record for that series.
Regulators will have to continue to ensure that lending practices and policies don’t deteriorate over coming years as banks seek new ways of attracting lending, particularly to the housing sector which accounts for 63.1% of the total value of outstanding loans to the domestic banks.
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
 
 
 
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ckusher-ujnxiKuFQs

Growth in outstanding mortgage debt at historically low levels: Cameron Kusher

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The British media entrepreneur and multi-millionaire Baron Waheed Alli who sits in equal 859th place on the latest Sunday Times 1000 Rich List has purchased an off the plan apartment in the Dominion development at Darlinghurst which is due for completion next month.
Dominion – developed by Cbus Property – <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/darlinghurst-s-newest-residential-development-dominion-revealed/2013012358921" style="font-size: 14px;">will consist of 108 apartments</a> split across three buildings, each seven levels high close to Oxford Street.
Property Observer reported last week that <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/designer-jonathan-adler-heading-downunder-as-lord-alli-buys-into-darlinghurst-s-dominion/2013041960569" style="font-size: 14px;">Lord Alli plans to use his interior designer, Jonathan Adler </a>from New York, to help with the finishing touches of his fifth floor Darlinghurst apartment.
<a target="_blank" href="/news">Lord Alli</a> is the co-founder of Planet 24, one of Britain’s largest TV production companies, responsible for hit shows such as Survivor.
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