For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Canberra

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Canberra has recently joined the biggest cities with strong price growth, if you can believe the numbers.
As is the case with all our capital cities, the level of growth in Canberra house prices depends on which research source you favour.
The latest figure from the Australian Bureau of Statistics records annual growth of 6.6 percent, while the Real Estate Institute of Australia says 5.1 percent. But Domain, SQM Research and CoreLogic, using their various mysterious methodologies, all have Canberra house prices (on average) rising by more than 10 percent in the past 12 months.
The uplift in price growth in the national capital is quite recent. Unlike Sydney three hours up the highway, Canberra has not been pumping for the past 3-4 years. It went through a period of malaise when the Federal Government downsized the public service and the market was also impacted by an oversupply of apartments.
Canberra has got those negative symptoms out of its system and appears to be growing again. Certainly that aligns with my analysis of sales activity, which have been elevated in the past two years.
But what really stands out for me is the uplift in activity and prices in New South Wales locations close to Canberra.
The proximity of Queanbeyan (now part of the newly-formed Queanbeyan-Palerang Regional Council area) to the nation’s capital is certainly helping local property markets.
The region has strong population growth, unemployment is low and new housing estates are under construction – helped by Queanbeyan’s affordability relative to Canberra, with median prices for both houses and units generally below those in the national capital.
Canberra prices are kept artificially high by the tight control of land releases and general dwelling supply by the ACT Government. But Queanbeyan, while closer to central Canberra than many ACT suburbs, is in NSW and has cheaper prices. Many of its suburbs have median house prices in the $400,000s while Queanbeyan, Queanbeyan East and Crestwood all have median unit prices in the $200,000s – something that’s difficult to find within the ACT.
Property sales activity in Queanbeyan increased in 2015 and 2016, leading it to become a standout region for growth, as identified in the Autumn edition of the Price Predictor Index published by Hotspotting.
Good rental yields are another attraction, with several suburbs having median yields around 5 percent for houses and 6 percent for units.
Goulburn, about 80km from Canberra, also benefits from being close to the national capital and having much cheaper house prices. It’s a growth market, partly because of local events, partly its proximity to Canberra and partly a Ripple Effect from Sydney’s growth market.
Sales activity has been rising steadily in the past 18 months and this has generated solid growth in Goulburn’s median house price (up 7% to about $350,000 in the past 12 months).
Goulburn (the LGA’s population is around 30,000) has long been a solid regional centre servicing the Southern Tablelands area of NSW near the ACT border.
Long-term, it will benefit from its location in the growth corridor linking Canberra with Sydney – with growing numbers living in affordable Goulburn and working in Canberra.
It would also be a key beneficiary of plans for high-speed rail links between Canberra and Sydney, if that grand plan ever happens.
Goulburn has more diversity to its economy than your standard regional centre, with a big wind farm industry, the presence of the NSW Police College and also the Goulburn Correctional Centre.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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terryryder-YECXbqmri2

Canberra's strong price growth extends to neighbouring cities: Hotspotting's Terry Ryder

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The performance of house and unit resales across Canberra has continued to diverge over the past quarter, according to CoreLogic’s latest Pain and Gain report.
While only 8 percent of all dwellings resold at a loss over the quarter, this was split by 1 percent of houses and 23 percent of units.
<a href="https://www.propertyobserver.com.au/images/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.28%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.28%20pm.jpg" alt="">
The property data firm says that while only 8.6% of all dwellings resold at a loss over the quarter, this was split by 1.1% of houses and 23.2% of units.
<a href="https://www.propertyobserver.com.au/images/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.39%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.39%20pm.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

$20,000 losses in Canberra's unit resale market: CoreLogic

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The median Canberra house price has gone past $700,000 for the first time, following a 5.3% rise during the March quarter –  the sharpest increase in the country.
But Canberra unit prices fell by 0.6% to around $401,000, according to the Domain data.
Annual median house rents are up 7.5% and units by 8.2%.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-act-crace-125208470" target="_blank">62 Narden Street</a>, Crace (above) has been listed for $720,000 plus.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-farrer-125092154" target="_blank">27 Gluyas Street</a>, Farrer (below) was recently sold for $700,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/20/27%20Gluyas%20Street.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-act-bruce-125228542" target="_blank">91/31 Thynne Street</a>, Bruce (below) has been listed for $425,000 plus.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/20/91_31%20Thynne%20Street.jpg" alt="">
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-wright-125115010" target="_blank">79/40 </a><a href="https://www.realestate.com.au/property-apartment-act-wright-125115010" target="_blank">Philip Hodgins Street</a>, Wright (below) has been listed for $395,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/20/79_40%20Philip%20Hodgins%20Street.jpg" alt="">
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Canberra median prices goes to $700,000 for the first time

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A Forrest house designed by Canberra’s first residential architect, Kenneth Oliphant, was one of Canberra's biggest weekend sales.
It sold for $2.57 million, having last traded when Ken bought the home for $415,000 in 1995.
The four-bedroom 1940s home at <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/24-arthur-circle-forrest-canberra/1317360801611" target="_blank">24 Arthur Circle</a> attracted seven registered bidders and five parties placed a bid.
Set on 1,350 sqm, the single level home has been reinvented by Ken into a family entertainer.
Separate formal living areas each lead to outdoor areas and an entertainment patio overlooks a swimming pool and spa.
 
 
 
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Kenneth Oliphant Canberra designed home sold

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Canberra has seen a significant growth in house sale prices over the past 12 months, according to Herron Todd White’s latest report.
The property valuation firm says that this is partly due to low interest rates and a limited supply of houses coming onto the market.
Yarralumla has been one of the strongest performing suburbs in Canberra over the past 12 months.
"Several recent sales have broken the Canberra auction record, the most notable being 12 Hunter Street, Yarralumla, selling at auction for $5.475 million," the report advised.
Other recent sales show high prices in Canberra’s inner suburbs have forced buyers to look to the outer suburbs to find a family home.
"Some other areas that have seen considerable growth over the past year are Woden Valley, Weston Creek and the southern suburbs of Belconnen.
This trend is also confirmed by some recent vacant land sales from the Mr Fluffy scheme.
Recent sales have shown houses are proving more popular than apartments," the report stated.
This is probably due to an oversupply of apartments in the Canberra market and a continued number of apartment developments beginning construction.
Currently buyers seem to be attracted to 4- or 5-bedroom houses in established suburbs, according to HTW.
The valuation firm pinpointed a 4-bedroom home at 37 Flanagan Street, Garran (pictured above) recently sold for $1.38 million.
There was also a 5-bedroom home at 60 Barada Crescent, Aranda recently sold for $1.25 million.
The majority of the higher sale prices were for renovated or new dwellings.
"It could be assumed the buyers are families looking to settle into a long term family home.
"This trend looks set to continue as properties in established suburbs remain tightly held and highly sought after," the report stated.
As the Mr Fluffy vacant land blocks are now being brought to market there may be a number of new houses in established suburbs come onto the market.
This increased supply may reduce prices but is likely to take effect in the longer term as the blocks are still in the process of being cleared and sold.
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Significant price growth experienced in Canberra's residential market: HTW

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Three mixed use / residential development sites have been listed in the newly developed residential precinct of Woden Green Estate, Canberra.
The precinct is located within Woden town centre, 8 kilometres south of Canberra’s CBD.
The three sites, totalling 14,996 square metres, are being marketed by CBRE’s Andrew Stewart and Mark Nicholls on behalf of Hindmarsh with the option to purchase individually or in one-line.
The first development site for sale totals 1,712 square metres and has a Medium Density Residential zoning.
The second and third sites are both located in Business zoning and are 6,063 square metres and 7,221 square metres respectively.
Stewart said the three development sites represented an investment opportunity considering the state government’s commitment to reviving Woden and preparing the town for anticipated population growth.
The expression of interest campaign closes Thursday April 20 at 4pm.
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Triple development offering in Woden, ACT

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Canberra has the highest number of fresh properties being listed compared with 12 months ago, according to CoreLogic’s latest report.
The property data firm says that Canberra’s number of new listing rose by 48.8 percent, to a total of 903.
However it only has an increase of 4.6 percent for the number of total listings compared with a year ago.
<a href="https://www.propertyobserver.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.34%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.34%20pm.jpg" alt="">
Hobart’s total listing declined 18.1 percent to a total of 1,868 despite an increase of 35.1 percent in the number of Hobart’s new listings.
However Melbourne has the highest increase of new properties in the last 12 months with a rise of 22.7 percent.
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Canberra fresh listings spike by 48 percent: CoreLogic

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There is a wide variety of property types available to first home buyers in the Canberra region,  according to HTW’s Month in Review: March 2017.  
The valuation firm says there are affordable detached housing options in the outer suburbs of Belconnen, Gungahlin and Tuggeranong while the outer areas of Gungahlin also provide newer detached housing options on mostly smaller blocks.
Affordable new unit options are available throughout the Canberra region a large supply of older units close to the city and in the suburbs that would be suitably priced for first home buyers, HTW says.
The firm points to the Land Development Agency, which allocates a number of new releases to be sold through the Land Rent Scheme, as an affordable housing option.
For people who meet the requirements, buyers only need to raise the capital for the building costs, the land is rented and there is an option to purchase the land in the future.
HTW says that the most recent land rent release was in the Gungahlin suburb of Taylor where there were 126 blocks available ranging in size from 250 to 587 square metres.
New developments in the Canberra region have a large number of one-bedroom units that are priced suitably for first home buyers, HTW says.
“Some developers are offering deals that require lower upfront costs to secure a dwelling,” the report says.
“This has made new units popular for first home buyers and has reduced demand for older existing units.”
However, the firm cautions first home buyers to beware the number of financial considerations to be aware of before committing to a purchase.
“Firstly, while interest rates are low at the moment, buyers should be aware that interest rates may increase which would increase their finance costs.
“Secondly, the additional costs to purchase a property, for example legal fees, stamp duty costs and mortgage application fees, are not included in the purchase price of the property.
“Thirdly, the additional running costs of owning a property also need to be considered.
“These include the maintenance costs of the building, property management fees if it is an investment property, government taxes and body corporate fees on units.
“Particularly with new units in the Canberra region, buyers need to be aware that Body Corporate Fees can increase significantly over time.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-act-gungahlin-124879186" target="_blank">2/14 Maria Smith Lane</a>, Gungahlin (above) has been listed for $510,000 plus.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-house-act-belconnen-120529281" target="_blank">11/57 Benjamin Way</a>, Belconnen (below) has been listed for over $300,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/09/11_57%20Benjamin%20Way.jpg" alt="">
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Belconnen and Gungahlin top first home buyer targets in Canberra: HTW

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Office vacancies in Canberra’s Parliamentary precinct have hit a 10-year low of 1.2 percent, owing to strong leasing activity over the past six months, according to real estate firm Colliers International.
The tightening of the A-grade office market contrasts with the slight drop in Canberra CBD vacancy, largely due to the withdrawal of a number of C and D-Grade buildings.
Michael Ceacis, director of Office Leasing at Colliers, said the uptake of A-Grade office space is due to tenants seeking quality office accommodation.
“Landlords are now offering reduced incentives. Early last year 25 percent incentives were being offered and now we are seeing 15 percent or lower. Face rents in Barton are increasing and A-Grade office space is being leased for more than $440 per square metre,” said Ceacis.
“We’re finding that tenants currently occupying C and D-Grade office space in the Parliamentary precinct are looking to stay within the area but in better quality accommodation. This year we’ve already spoken to a number of tenants with a total requirement of over 10,000sq m of office space in A-Grade buildings and there isn’t enough supply to meet this demand.” 
Tenants looking to upgrade are seeking office space with a minimum of 4.5-star NABERS Energy rating with good natural light, end-of-trip facilities, good car parking ratio and close to amenities. 
The office market is expected to tighten further with no new A-Grade stock planned in the short-term. 
According to the latest PCA data, there is 3,348 sqm of A-Grade office space available for lease in the Parliamentary precinct. 
Colliers says tenants’ flight to quality and the limited supply will lead to a further tightening of A-Grade stock, driving incentives down even further and an increase in rental rates. 
According to Colliers International research, there are only a handful of buildings that could potentially be repositioned to meet A-Grade standards in the area.
Landlords willing to spend the capital expenditure needed to upgrade their buildings are securing tenants. As an example, a refurbished office building at 44 Sydney Avenue, Barton is now fully occupied.
“In the past five years we’ve seen several key sites in Barton developed into residential and hotel accommodation, such as Little National Hotel and the Governor Place precinct,” Colliers executive Aaron Bruce said.
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Vacancy in Canberra’s Parliamentary precinct hits 10-year low: Colliers

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A further 157 former Mr Fluffy blocks in Canberra are to be sold via auction in March, adding to the 153 remediated blocks already been offered for sale.
The ACT government had in 2015 marked more than 1,000 Canberra homes contaminated by Mr Fluffy asbestos. The list included blocks where potentially hazardous loose-fill asbestos was installed as insulation by the Canberra-based Mr Fluffy company in the 1960s and 1970s.
The first blocks were released in April 2016, and as of February 3, 129 blocks out of the 153 had sold, according to a post in Domain.com.au. 
The 24 remaining blocks are available over the counter at the valuation price.
The blocks to be auctioned in March range from 562 sqm to 2,143 sqm and will be sold through partner agents <a href="https://www.realestate.com.au/agency/civium-property-group-ETPKYK" target="_blank">Civium Property Group</a> and <a href="https://www.independent.com.au" target="_blank">Independent Property Group</a>.
Auctions will take place every week throughout March. The first properties will be auctioned on Tuesday, March 7, when 27 Weston Creek blocks go under the hammer.
Civium Property Group chief executive Doug O’Mara was cited by Domain as saying that there was a high demand from families, downsizers and builders.
“The blocks are in Canberra’s established suburbs and there are some large parcels of land available,” O’Mara said. 
About 100 of these blocks are in Woden and Weston Creek, with the rest spread throughout the inner north, inner south and Belconnen.
Blue ribbon addresses in Griffith, Red Hill, Campbell and Reid are among the properties on offer.
At least 10 former Mr Fluffy blocks have sold for more than $1 million. Three of these were in Griffith and two were in Red Hill.
Large blocks in Campbell, Garran, Hawker and Hughes have also sold for more than $1 million.
Under the Mr Fluffy planning rules, blocks more than 700 sqm can be divided in two and used for two houses. A majority are more than 700 sqm.
Demolitions of the 1,022 houses across 56 Canberra suburbs have been identified as Mr Fluffy homes and demolitions will continue over the next few years.
The resale phase includes a first right of refusal process, which allows the owner to return and rebuild on their remediated block.
An ACT Asbestos Response Taskforce spokeswoman said the public sales would help minimise the overall cost of the scheme and the new homes would help reinvigorate communities.
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