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>Australian Property Monitors (APM) has released a list of results from 116 auctions in Melbourne for the weekend of  March 9. <a style="font-size: 14px;" rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Melbourne auction results for March 9 weekend

<html><body>
Four out of five consumers (80%) say now is a good time to buy a home, according to a new consumer sentiment survey carried out by RP Data and online survey firm Nine Rewards in the first week of March.
This is up slightly from the 76% who said it was a good time to buy property when surveyed in October last year.
Rising confidence about stepping onto the property ladder comes as more consumers expect property prices to rise over the next six and 12 months.
More than one third (38%) of those surveyed expect house prices to rise over the coming six months, with 51% predicting prices to rise over the next 12 months.
By comparison, when the survey was conducted in October 2012, 33% of respondents expected home prices to rise over six months, while 42% expected to see a rise over 12 months.
Only 8% of respondents expect prices to fall over the next six months and the next 12 months.
About 54% are expecting prices to remain stable over the next six months and 41% expect no change in house prices over the next 12 months.
RP Data national research director Tim Lawless says the latest survey data shows a substantial upward shift in consumer expectations for housing market conditions.
"The results revealed distinctive differences from region to region where, as an example, 60% of respondents in Perth expected prices to rise over the next six months, and a larger 68% expected higher prices over the coming twelve months," he said
"In contrast, survey participants in Tasmania delivered a much more sedate reaction with only 30% of local respondents expecting prices to rise over the next twelve months."
"As consumer confidence in housing market conditions rises, we are likely to see a larger number of dwelling sales as the year progresses. Transaction data from last year was already showing an improvement in home sales, with 7.6% more homes transacted over the second half of 2012 compared with the first half. If the survey responses are anything to go by, we should see a continuation of this trend through 2013."
The survey also examined what the most important factors were for consumers when choosing a property.
More than half the respondents indicated that their personal financial situation was the most important factor, followed by prospects for capital growth in the housing market (20%), then interest rates (12%).
Only 9.4% indicated job security was their most important factor, while less than 4% indicated government incentives were the most important factor in their decision.
The results of the survey were compiled based on the responses from 1,040 Australians last week.
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Housing market sentiment rising with 80% of consumers saying now is a good time to buy: RP Data

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The Perth CBD office market will continue to benefit from demand for space driven by companies tied to resources projects with the prospect that the vacancy rate could tighten to below 4% by the end of the year, according to Colliers International.
This compares with a national vacancy rate of 8.3%, expected to rise to 8.8% by January 2014.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/03/colliersmarch8.gif"><img src="/images/stories/2013/03/colliersmarch8thumb.gif"></a>
The Perth market remains highly attractive to investors with premium net rents currently at $835 per square metre and A-grade gross office rents currently at $736 per square metre with yields at a healthy 8.5%.
A-Grade rents have risen 16% since December 2009 and are expected to increase slightly over the next six months.
Perth A-Grade net face rents exceed that of the Sydney core CBD, and remain well in advance of other Australian capitals.
“In dollar terms, Perth CBD is looking increasingly unaffordable with rents getting back up to levels not seen since the GFC,” says Nerida Conisbee, national director of research at Colliers International and author of the latest CBD Office Research &amp; Forecast Report
“All things being equal, Colliers International expects CBD vacancy rates over the next six months to tighten to a mid-year estimate of slightly under 5% with the likelihood of further tightening to around 4.0% by the end of the year.
“However, if the mining sector rebounds as expected, this, together with the expected take-up by the oil and gas sector, could see the vacancy rate contract even further, though this depends on how quickly confidence and investment in the WA resource sector rebounds in 2013.
“The ongoing issue of tight supply, high rents and low vacancies adds further impetus to the need for near-city suburban office development,” she says.
The most recent Property Council of Australia’s (PCA) Office Market Report for the second half of 2012 found that the office vacancy rate for the Perth CBD increased from 4.2% to 5.7% due to decreased demand for commercial office accommodation but also due to a record increase in new office space being completed.
There was 180,000 square metres of new office space added to the Perth CBD over 2012, but only 12,249 square metres of space is forecast to be over 2013.
The tightest Perth market is the premium grade market, which had a vacancy rate of 4.5% as of January 2013, according to the PCA.
From 2014 onwards the new office pipeline will gradually increase again.
Demand for office space will also be impacted by a growing urban population - the population of the greater Perth urban area is expected to grow by more than 35% by 2026, with the residential population of Perth city expected to reach nearly 50,000 over the same period.
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Perth CBD office vacancy rate could tighten to below 4% by end of 2013: Colliers International

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The auction of a much-hyped vacant Lygon Street shopfront and upstairs residence failed to live up to expectation with the property passed in today.
There were just two bidders at the on-site auction and just one genuine bid of $1.65 million.
The 70 Lygon Street, Brunswick East, property was passed in on a vendor bid of $1.8 million.
Colliers International agents Tom Noonan and Jeremy Gruzewski had expected the property to sell for in excess of $2 million in the tightly held retail and cafe strip.
They are currently working through offers with Noonan expecting to announce a sale early next week.
<img src="/images/stories/2013/03/lygonmarch11one.jpg" width="470" height="314" alt="lygonmarch11one">
Expectations were high that the property would attract a premium with 100 enquiries received prior to auction and around 15 contracts issued.
In October last year, the historic Lygon Street premises of <a target="_blank" href="https://www.propertyobserver.com.au/retail/lygon-street-premises-of-donatis-fine-meats-slices-records-with-emotion-driven-%24289-million-auction-sale/2012103057521">Donati’s Fine Meats</a> sold for $2.89 million at auction, with a private investor paying nearly $1.4 million above pre-auction expectations – a yield of just 2.3% amid “emotionally-driven” bidding.
Gruzewski and Noonan also marketed the Lygon Street butchery last year.
The 70 Lygon Street property stands at on the corner of Lygon and St Phillip Streets. It comprises 226 square metres of space, of which 75 square metres is ground floor retail on a site measuring 230 square metres.
The second floor has a three-bedroom residence.
<img src="/images/stories/2013/03/lygonmarch11two.jpg" width="470" height="314" alt="lygonmarch11two">
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Lygon Street vacant corner shop passed in at auction 

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Chinese and Malaysian investor appetite for Australian residential development sites and off-the-plan apartments is set to rise over 2013 as both countries undergo political change and a degree of uncertainty.
China has already transitioned to new leadership, with  Xi Jinping replacing Hu Jintao as general secretary of the Communist Party in November, along with six new appointments to the Politburo Standing Committee, the inner sanctum of the Chinese Communist Party, the world’s most powerful political organisation.
While the transition has been smooth, high net worth Chinese investors will be concerned, perhaps even alarmed, at recent reports that Xi Jinping is arguing for a return to "Leninist" principles.
"Why did the Soviet Union disintegrate? Why did the Soviet Communist Party collapse? An important reason was that their ideals and convictions wavered," Jinping reportedly told his party behind closed doors and reported widely outside of China, including by the <a target="_blank" href="https://www.nytimes.com/2013/02/15/world/asia/vowing-reform-chinas-leader-xi-jinping-airs-other-message-in-private?pagewanted=all&amp;_r=0">New York Times</a>.
Such comments - not reported in the state-controlled Chinese press - may encourage Chinese investors to increase their already substantial investment in Australian residential real estate.
Jittery Malaysian investors may also be considering upping their investments in Australia ahead of a national election which must take place before the end of June, with political tensions rising following the recent deportation of Australian independent senator Nick Xenophon, over his apparent support for opposition leader Anwar Ibrahim, which has raised questions about Malaysia's so-called democractic freedoms.
They will also be concerned at the loss of financial market confidence following the benchmark FTSE Bursa Malaysia KLCI Index falling more than 4% since January over concerns that the ruling Barisan Nasional may win fewer seats in parliament.
Melbourne in particular stands out, with Chinese developers investing almost $500 million there in the past two years.
Wallace Wang, a property developer and vice-president of the SRE Group headquartered in Hong Kong and Shanghai, told the ABC in September last year that investing in property in Australia was attractive for its lifestyle, a good return on investment and – importantly – because its regulatory system was transparent.
In a further sign of growing Chinese interest in Australian real estate, the Australia China Real Estate Association set up in Sydney last year to help Chinese investors get a better understanding of the Australian culture and regulatory differences.
 
 
<hr class="system-pagebreak">
Malaysian investors are also active in Melbourne.
“Malaysian investors want to put their money in a strong offshore market like Australia while they still can,” a commercial agent told Property Observer.
In recent months two prominent sites in the Melbourne CBD have sold to Malaysian investors.
In late 2012 <a href="/news">Malaysian developer Mammoth Empire</a> secured a prime development opportunity in the northern fringe of CBD after acquiring the low-rise 398-406 Elizabeth Street site for $15.1 million.
Mammoth Empire is currently building a 55-storey residential tower – MY80 – on the adjoining corner of A’Beckett and Elizabeth streets at a cost of $250 million.
In January a Malaysian investor paid $11 million for the former flagship Fletcher Jones showroom at 1 Queen Street at the north-west corner of Flinders Street, above expectations of around $10 million.
The investor is expected to lease the existing asset and resell it at a future time if commercial prices rise and possibly after it has secured a redevelopment permit, according to a report in The Age.
The former Fletcher Jones premises was marketed by Clinton Baxter of Savills and Matthew Stagg of Colliers International.
The property offers development potential by virtue of its prime corner position and spectacular views along the Yarra River and across to Southbank.
Baxter told Property Observer prior to the sale that the views were “extraordinary – up the Yarra to the MCG, and across the river to Southbank and Crown”.
“The views can never be built out.  So most likely, you will see a brand-new apartment, office or hotel building on the site in a few years’ time,” he said.
Other noteworthy commercial sales to Malaysian investors include the listed Starhill Real Estate Investment Trust, managed by Malaysian conglomerate YTL Corp, which in June paid $415 million for a portfolio of three five-star Marriott hotels – the Sydney Harbour Marriott, the Brisbane Marriott and the Melbourne Marriott.
At the same time as Malaysian investors look to snap up property in Australia, Chinese developers are also looking to escape local property rules and invest offshore in places like Sydney and New York.
Shanghai Greenland Group is spending 8 billion yuan ($1.2 billion) on projects in Australia, according to the Australian Financial Review.
The Chinese government has introduced tougher home purchase rules in around 40 cities to keep house prices under control and also introduced a property tax in Shanghai and Chongqin.
There are also plans for a nationwide real estate tax.
According to a report in Malaysian newspaper The Star, quoting fund managers and analysts, a change in government could cause the Malaysian market to go into limbo for up to six months as the new government determines its investment policies.
The main concern among fund managers and analysts is whether the policies of the opposition – should it win the next general election – will be market friendly.
Government is held by the Barisan Nasional (BN), which won 140 seats in the 2008 election, its worst result since the 1969 elections and down from the 198 it won in 2004.
The opposition Pakatan Rakyat coalition won 82 seats, denying the BN a two-thirds majority required to pass amendments to the Federal Constitution.
There have been three prime ministers and leaders of the BN since the 2008 election victory.
The current prime minister (since 2009) is Datuk Seri Najib Tun Razak.
The ruling BN coalition’s tenure expires on April 28, 2013, and the prime minister must call for the general election within 60 days of this date.
For more on the allure of Australian property to Asian buyers, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment">download our free eBook. </a>The eBook is also available for<a target="_blank" href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook"> free download in Chinese.</a>
 
 
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Asian governments in transition impact property investment appetite

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Now that we’re well into 2013, home buyers and investors who were looking to the property markets for direction are seeing positive signs and responding with renewed interest.
This is reflected in more people attending open homes, more offers being made to buy properties, higher auction clearance rates and property values slowly rising.
The biggest change I’ve seen so far this year is the rise in consumer confidence and history suggests this is good for property.
So today I’d like to whip around Australia and see how our property markets are performing.
But before I do, let’s first look at the latest housing stats. 
<a href="https://www.rpdata.com/" target="_blank">RP Data</a> reported their February <a href="https://www.rpdata.com/images/stories/content/pressreleases/2013_03_01_rpdata_rismark_indices.pdf" target="_blank">house price index</a> and the findings were encouraging.
<img src="/images/stories/2013/03/yardneymarch8one.jpg" width="470" height="193" alt="yardneymarch8one">
Interestingly I’ve already seen the word ‘boom’ used in the media. It would be misleading to say our housing markets are in full-scale recovery and any deterioration in economic conditions could easily slow things down again.
However the latest stats will once again disappoint the doomsayers who frequent the property forums and for the last five years have been predicting an apocalypse.
What the stats show 
The five-city dwelling price index recorded a 0.26% rise over the month. This is the second consecutive monthly increase following January’s 1.11% increase in our five big capital cities.
What the figures don’t show is how fragmented our markets are, with different states, price points and types of properties behaving differently.
Only half our capitals showed price increases and this time around Melbourne was the outstanding performer with its third monthly increase in a row.
<img src="/images/stories/2013/03/yardneymarch8two.jpg" width="470" height="201" alt="yardneymarch8two">
Source – RP Data
The tide is turning
According to RP Data’s Tim Lawless, most housing markets bottomed out around May last year and since that time the combined capital cities index has recorded a 3.3% improvement in values.
<img src="/images/stories/2013/03/yardneymarch8three.jpg.png" width="470" height="215" alt="yardneymarch8three.jpg">
Apartments outperformed
Units outperformed houses in Australia’s major capital cities. Over the past year apartment values rose 2.3% compared with a 1.2% gain in house values.
 
<hr class="system-pagebreak">
Let’s now look at some of our major property markets in a little more detail:
Sydney
Median house price: $600,000 with 2.2% increase in last 12 months   Median unit price: $400,000 with 4.7% increase in last 12 months Vacancy Rate: 1.6% 
Sydney performed well over the last year, but the top end of the market is still suffering from an oversupply of property relative to the reduced demand. However, affordable gentrified suburbs within close proximity to the city, transport, amenities and infrastructure are performing well.
In particular, investors and owner-occupiers are snapping up well-located apartments in the inner western suburbs and Sydney’s eastern suburbs at hotly contested auctions, according to George Raptis, director of <a href="https://www.sydneybuyersagent.com.au/" target="_blank">Metropole Property Strategists in Sydney</a>.
“I’d like some of the property doomsayers to come to one of these auctions and see how many genuine bidders are in the market for the small selection of good properties for sale,” says Raptis.
“The market for well-located apartments is likely to remain strong throughout the year. Strong rental demand, a shortage of rental properties, tightening vacancies and rising rents means investors will vie for the same apartments as owner-occupiers, underpinning prices.”
Melbourne
Median house price: $520,000 with 0.6% decrease in last 12 months   Median unit price: $420,000 with 1.4% decrease in last 12 months Vacancy Rate: 3%
Melbourne has been the surprise performer over the last three months but different segments of the Melbourne housing market are at different stages of the property cycle.
While there is still an oversupply of property at the top end, there is more competition for properties in the middle range of the market, where there is a shortage of well-located properties. This has been evident in strong auction clearance rates this year.
But there are some segments of the Melbourne property market to avoid.
According to Keith Franklin, of <a href="https://www.melbournebuyersagent.com.au/" target="_blank">Metropole Property Strategists in Melbourne</a>, “Builders and developers have got ahead of themselves, and there is an oversupply of newly built house-and-land packages in Melbourne’s outer western suburbs. “Currently there is a flood of new properties, but buyers are showing a preference for two to three year old homes which can be bought considerably cheaper than new stock.
“There is also an oversupply of inner-city CBD apartments and the rental vacancy rate in Melbourne’s CBD is 4.4%.
“The problem is there are many more apartments coming on stream in the next few years at a time when there is less demand from the tenant demographic that rents in the CBD,” adds Franklin.
“This will put downward pressure on prices and rentals. I expect there will be an oversupply of inner-CBD and near-CBD apartments in Melbourne for a few years, causing prices to fall slightly.
“Currently there are some good investment opportunities buying established apartments in Melbourne’s southern or eastern suburbs and adding value through renovations” he says.
Brisbane
Median house price: $453,000 with 1.3% increase in last 12 months   Median unit price: $350,000 with -2.4% decrease in last 12 months Vacancy Rate: 1.9%
House prices in Brisbane are still around 9% below their peak, but there are now signs of improvement in this market.
“Last year we saw Brisbane buyers lacking the necessary confidence to re-enter the market, instead sitting on the sidelines waiting for signs that real estate has bottomed before buying a property, but things are very different this year,” said Liz Wilcox, director of <a href="https://brisbanebuyersagent.com.au/" target="_blank">Metropole Property Strategists in Brisbane.</a>
“More potential buyers are coming to open homes, with many putting in offers within days of properties being put on the market. There has definitely been an increase in confidence among Brisbane-based property buyers.”
“Like other parts of Australia, the prestige end of the Brisbane housing market is suffering, but well located, more affordable homes within 5-10 km of the CBD are likely to perform well this year” said Wilcox.
Currently there are a large number of off-the-plan apartments available in the Brisbane CBD and surrounding suburbs. Many of these remain unsold, and this oversupply of properties will put downward pressure on prices and rentals in these suburbs.
Perth
Median house price: $480,000 with 3.9% increase in last 12 months   Median unit price: $410,000 with 1.5% decrease in last 12 months Vacancy Rate: 0.8%
In the three years leading up to the 2008 peak in house prices, WA house prices increased 20% per annum on average, compared to a national average of 6% per annum. Since then, investors and home owners deserted the Perth residential property market, until the middle of last year when the market turned the corner.
“Currently prices are around 4% below their March 2008 peak and with rising rentals (up around 15% in the last year) and a shortage of good stock on the market at a time of strong population growth and first home owners and investors returning to the market, prices in Perth are once again moving up,” says Damian Collins, director of <a href="https://www.momentumwealth.com.au/" target="_blank">Momentum Wealth</a> in Perth.
Adelaide
Median house price: $395,000 with -1.5% decrease in last 12 months   Median unit price: $320,000 with 2.8% increase in last 12 months Vacancy Rate: 1.4%
The Adelaide property market has been flat for some time now and prices are likely to correct a little more before the market bottoms.
Darwin
Median house price: $587,000 with 6.3% increase in last 12 months   Median unit price: $410,000 with 4.2% increase in last 12 months Vacancy Rate: 1.4%
The Darwin property market has been the strongest performer over the last year, fuelled by strong investor sentiment at a time of a shortage of properties and rising rents.
What next?
While our property markets are likely to remain soft this year, they should keep consolidating.
We’ve entering the stabilisation phase of the property cycle where buyers are returning, slowly taking up available stock and gently pushing up prices in the middle price range.
However, these purchasers are being very selective. Well-located, well-priced properties are selling, but properties in secondary locations or those in areas of oversupply are languishing.
The prestige end of the market, which has been hit hard over the last five years, will slowly improve as our economy and business sentiment picks up.
Rising consumer confidence, low interest rates, a stable economy, rising rents and more good news in the media are likely to augur well for our property markets this year.
Warning: There are plenty of speed bumps ahead
Home buyers and investors will have to do careful due diligence – they won’t have booming property prices to cover up mistakes.
This means they will need to buy the right type of property. One that has a level of scarcity, meaning it will be in continuous strong demand by owner occupiers (to keep pushing up its value) and tenants (to help subsidise your mortgage); and one in the right location (that has outperformed the long-term averages), at the right time in the property cycle (that would be now in many states) and for the right price.
Then hold it as a long-term investment and reap the rewards.
Data Sources: <a href="https://rpdata.com/" target="_blank">RPData</a>; <a href="https://sqmresearch.com.au/" target="_blank">SQM Research</a>
Michael Yardney is the director of <a target="_blank" href="https://www.metropole.com.au/" rel="nofollow">Metropole Property Investment Strategists</a>, a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the<a target="_blank" href="https://propertyupdate.com.au/category/property-investment/" rel="nofollow"> Property Investment Update blog.</a>
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Rising consumer confidence a good sign: Michael Yardney

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A major property industry legal stouch will begin in the Victorian Federal Court next Wednesday when commercial property giant GPT faces off against a $100 million class action claim from disgruntled investors.
It is one of a <a href="https://www.propertyobserver.com.au/legal/rod-lambert-s-%24175-million-gold-coast-claim-and-other-courtroom-conflicts-to-consider-in-2013/2013012458976" target="_blank">number of court room conflicts</a> that property industry participants will follow closely this year.
The class action against GPT was filed on behalf of investors by law firm and class action specialists Slater &amp; Gordon in December 2011.
It relates to a July 7 2008 statement from GPT to the ASX in which GPT downgraded its forecast earnings for the 2008 calendar year by 27%, and its distributions per security (DPS) by 30%.
Six months prior GPT had released its results for the 2007 calendar year and stated that its earnings would be “flat” (about $600m) for 2008.
“The class action against GPT alleges that it engaged in misleading or deceptive conduct and breaches of continuous disclosure obligations in relation to and following the release of its 2007 Full Year Statutory Accounts,” according to a statement on the Slater &amp; Gordon website.
Former GPT boss Nic Lyons and current head of corporate development Michael O’Brien will be called to give evidence next week.
In its 2012 report to shareholders released this week GPT says it rejects the allegations and intends to defend the claim.
“GPT does not expect that any payment it could be required to make would have a material adverse effect on the group’s operation or strategic objectives, or its financial strength,” adds the group in the report.
Current CEO Michael Cameron, who became CEO in May 2009, will not be cross-examined.
GPT was one of the listed property trusts heavily impacted by the GFC, losing more than $1 billion in value as its share price plunged.
However, it has since recovered and is now regarded as one of the strongest companies in the A-REITS sector.
 
 
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Former GPT boss to give evidence in $100 million investor class action

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<img height="111" width="470" src="/images/stories/2013/03/hobarthouseprice.gif" alt="hobarthouseprice">
The median price of houses in Hobart, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter.
<img height="112" width="470" src="/images/stories/2013/03/adelaidehouseprice.gif" alt="adelaidehouseprice">
The median price of houses in Adelaide, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter.
<img height="101" width="470" src="/images/stories/2013/03/brisbanehouseprice.gif" alt="brisbanehouseprice">
The median price of houses in Brisbane, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter.
<img height="103" width="470" src="/images/stories/2013/03/perthhouseprice.gif" alt="perthhouseprice">
The median price of houses in Perth, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter.
<img height="102" width="470" src="/images/stories/2013/03/melbournehouseprice.gif" alt="melbournehouseprice">
The median price of houses in Melbourne, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter.
<img height="107" width="470" src="/images/stories/2013/03/canberrahouseprice.gif" alt="canberrahouseprice">
The median price of houses in Canberra, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter.
<img height="97" width="470" src="/images/stories/2013/03/darwinhouseprice.gif" alt="darwinhouseprice">
The median price of houses in Darwin, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter.
<img height="93" width="470" src="/images/stories/2013/03/sydneyhouseprice.gif" alt="sydneyhouseprice">
The median price of houses in Sydney, based on settled sales for the quarter ending February 28, according to <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median price of houses across Australia's eight capital cities was $485,000 for the quarter. Sydney's house median has been at $600,000 or above for the past three quarters.
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Sydney house median sits at $600,000: RP Data capital city analysis

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More Chinese investor money is expected to flow into the prestige Sydney real estate market on the back of tighter controls being implemented in Beijing, according to Angus Raine, CEO of Raine &amp; Horne.
Recent measures announced by the Chinese government aimed at curbing real estate ownership include stricter enforcement of capital gains tax on home sale profits and the imposition of higher deposits for the purchase of second homes.
“Turning the screws on property speculation appears to be aimed at limiting a potential asset bubble in China,” says Raine.
“The upshot is that cashed up Chinese nationals could look to foreign property markets, which will surely mean more money flowing into Australian real estate in capital cities such as Sydney.”
Raine notes that the latest actions by the Chinese government comes soon after the introduction of the ‘Significant Investor Visa’, which accelerates migrant visas for foreigners who invest more than $5 million in approved investments in Australia.
“We’ve had a few wins in recent times with the Significant Investor Visa, and combined with the Chinese government’s restrictions, this will surely mean more money finding its way into the Eastern Suburbs housing market,” says Barry Goldman, co-principal of Raine &amp; Horne Double Bay and Bondi Beach.
Goldman says his office has already read received “significant interest from Chinese buyers” including “plenty of interest” in a five bedroom home at <a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Bellevue-Hill/?adid=2010287773" target="_blank">141A Victoria Road in Bellevue Hill</a>, the Sydney suburb, with the highest median prices.
“It ticks all the boxes with Chinese buyers and investors including harbour views, excellent build quality and close proximity to schools,” says Goldman.
Another Raine &amp; Horne estate agent, Hugh Macfarlan of Chatswood/Willoughby, said he expected the  legislative changes in China would flow through to the Sydney North Shore real estate market.
“Around 30% of our Chinese buyers are overseas investors, so we expect that any restrictions on real estate in China will flow through to our markets,” he says.
For more on the allure of Australian property to Asian buyers, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment">download our free eBook. </a>The eBook is also available for<a target="_blank" href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook"> free download in Chinese.</a>
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Chinese govt real estate clampdown good for Sydney prestige markets: Angus Raine

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The Easter auction scene centres on Sorrento with veteran stockbroker Gary Reid is selling his beachside residence at an Easter auction with hopes of $1.25 million plus.
Located on <a target="_blank" href="https://www.kayburton.com.au/property/26-st-pauls-road-sorrento">St Pauls Road </a>in Melbourne’s suburb Sorrento, Reid built the home eight years ago.
The four bedrooms, two bathroom house is only a stone's throw from Websters Corner front beach.
The living room is encircled by a courtyard on one side and an outside decking and gardens on the other.
The auction is scheduled for March 31 and has been listed by Liz Jensen and Linda Boulter from Kay and Burton Portsea.
A <a href="https://www.kayburton.com.au/property/49-coppin-road-sorrento" target="_self">five-bedroom home </a>on Coppin Road Sorrento will also go under the hammer on March 30 with price expectations over $2.5 million.
The one-year-old home is located on a 944-square-metre block and is walking distance from the beach.
Featuring three living areas, a screening room and three bathrooms, the property has been titled Whitehaven.
The property also boasts ebony stained hardwood floors, a surrounding decking and a 11-metre mosaic tiled swimming pool.
Liz Jenson of Kay and Burton Sorrento has listed the property.
Another property in Sorrento will also be auctioned off over Easter with price expectations around $2 million.
The five-bedroom limestone and timber home on <a target="_blank" href="https://www.kayburton.com.au/property/3-king-street-sorrento">King Street</a> was built nine years ago by owner Alastair Young.
It boasts four bathrooms, a media and games room and several living zones that are located both inside and out.
Situated on approximately 1,260 square metres, the home is surrounded by landscaped gardens.
Alastair and his wife, Susan, are moving to their 150-acre farm in Cape Schanck.
David Heathcote of Kay and Burton Sorrento listed the home.
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