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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Griffith takes the top spot on a list of Canberra's 2016/2017 house hotspots, with an expected increase of 8% over the next 12 months, in a forecast developed by APM senior economist, Dr Andrew Wilson.
The median price at Griffith is currently $1,300,000, according to APM, and some sales in the region are continuing to push the media price higher.
An example would be a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-griffith-122914390" target="_blank">18 Bannister Gardens</a> (above) that was recently sold for $1,370,000, which is $70,000 above the median price
The Smart Investor magazine, published by Fairfax Media, ranked Bonner, Harrison and Chifley as equal second best hotspot regions for houses in the ACT.
Suburb        Postcode       Median price      12 month forecast
Griffith        2603             $1,300,000         6%
Bonner        2914             $570,000           5%
Harrison      2914             $655,650           5%
Chifley        2606              $710,000          5%
Wright        2611              $750,000          4%
Crace         2911               $735,000          4%
Ainslie        2602               $895,000          4%
Campbell    2612               $1,079,500       4%
O'Connor    2602                $932,500         4%
Torrens       2607               $734,000         4%
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j.ballantyne1990-6AQqhLzZaK

Griffith tops list of Canberra house hotspots

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Greenway takes the equal top spot as Canberra's 2016/2017 hotspot for investing in units in a new list developed by APM senior economist, Dr Andrew Wilson.
The median price at Greenway is currently at $385,000 with an expected increase of 4% over the next 12 months, according to APM.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-act-greenway-119652167" target="_blank">17/1 Drew Street </a>(above) recently sold for $410,000 – is $25,000 above the median price – perhaps indicating the suburb is already drawing the attention of investors. 
The Smart Investor magazine, published by Fairfax Media, ranked Page and Macquarie as the joint strongest unit hotspots in Canberra.
Suburb        Postcode      Median price      12 month forecast
Greenway    2900            $385,000            4%
Page           2614            $425,000            4%
Macquarie    2614            $415,000           4%
Forrest         2603            $682,000           3%
Franklin        2913           $350,000            3%
Garran         2605            $565,000           3%
Bruce           2617            $425,000          3%
Casey           2913            $383,950          2%
City              2601            $525,000          2%
Watson         2602            $433,500          2%
 
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Greenway tops list of Canberra unit hotspots

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The top end of Canberra’s office market has been very active with landlords of A and B grade buildings in the city negotiating extensions to leases for terms close to 10 years, say valuation firm Herron Todd White in their Month in Review report for September 2016.  
HTW’s report deals with the broad picture of the capital city’s office market with deals and analysis.
Incentives for leasing deals are running at close to 30 percent with a face rent of circa $400 to $420 per square metre. A number of these properties are currently being offered to the market post-lease negotiations, say HTW. 
One example is 62 Northbourne Avenue, with a new lease expiry of June 2026. The building is early 1990s and has been progressively upgraded over the years to retain its competitive position in the market. 
There have been a number of recent transactions at the upper end of the market in the first half of 2016, including: 
• Aviation House in Woden sold by Mirvac to a Queensland-based private investor for $68.1 million, showing a 9% return with a WALE of close to five years. This is a five-year-old building with a residue of a 10-year lease in place.
• 14 Mort Street sold for $41.5 million showing an initial yield of 7.5% with a WALE of circa eight years. This is an older building, that has been maintained to retain its competitiveness with a new long term lease in place.
Another sale concluded was 92 Northbourne Avenue, the former long-term home of the NRMA, for $25.025 million to local developer Geocon. 
Geocon is reported to be considering developing a 140-room hotel for its Abode hotel group and 350 apartments for the market. The site has an area of 6,260 square metres. 
A sale in the city which has attracted strong interest due to its sub-$2 million price is 25 Garema Place for $1.9 million. Two tenants occupy the building, a bar on the ground floor and a hairdressing studio on the upper level. 
The WALE is reported to be 5.5 years. Fully leased standalone buildings seldom hit the market in this retail location and the yield achieved of circa 5.4 prcent reflected the scarcity value at this price point. 
The city market is strong and further sales are expected before the year end. 
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jonathanchancellor-7SQnKwU6yx

Canberra's office market sees flurry of leasing activity: HTW

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After CoreLogic recently reported a median unit price of $415,000 in Canberra, Property Observer went searching for what that got.
At <a href="https://www.realestate.com.au/property-apartment-act-braddon-122918490" target="_blank">718/74 Northbourne Avenue</a>, (above) Braddon the median house price will purchase the two-bedroom, two-bathroom apartment. Located on the seventh floor of the Medina building the apartment is fully furnished and equipped.  
At <a href="https://www.realestate.com.au/property-unit-act-city-123214594" target="_blank">33/45 Mayfair West Row</a>, (below) located in the heart of Canberra’s city, the median price will purchase just a one-bedroom, one-bathroom unit. The seventh floor apartment measures 67 square metres and features a balcony. 
<img src="/images/2016/08/30/500_mayfair.jpg" alt=""> 
The one-bedroom, one-bathroom apartment in Barton at <a href="https://www.realestate.com.au/property-apartment-act-barton-123233566" target="_blank">28/43 Blackall Street</a> (below) will set buyers back $419,000. The third-level apartment is located within the Landmark complex and measures 37 square metres. 
 <img src="/images/2016/08/30/500_balcony.jpg" alt="">
 
For offers above $405,000 buyers can secure a one-bedroom, one-bathroom apartment at <a href="https://www.realestate.com.au/property-apartment-act-kingston-123048386">56/1 Honeysett View</a>, Kingston. The apartment is located on the first floor of The Prince development and features a single-basement car park and an energy efficiency rating of 9.2. 
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What the $415,000 median apartment price gets in Canberra

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After CoreLogic recently reported a median house price of $551,000 in Canberra, Property Observer went searching for what that got.
The median price will purchase the four-bedroom, two-bathroom home in Bonner at <a href="https://www.realestate.com.au/property-house-act-bonner-121880538" target="_blank">31 Murrjinelle Circuit</a> (above). The 150 square metre house sits on 350 square metres of land. 
The same price tag will secure the 632 square metre block of land at <a href="https://www.realestate.com.au/property-other-act-lawson-123318966" target="_blank">16 Toorale Street</a> in Lawson (below). The allotment is large enough to construct a proposed five-bedroom, four-bathroom, energy-efficient home. 
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%2011.08.31%20AM.png" alt="">
The three-bedroom, two-bathroom home at <a href="https://www.realestate.com.au/property-house-act-kaleen-123143934" target="_blank">65 Onkaparinga Crescent</a> (below) in Kaleen has been listed for offers above $560,000. The family home has an energy efficiency rating of 5.0. 
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%2011.09.30%20AM.png" alt="">
Yet to be constructed, the 460 square metre lot 112 in <a href="https://www.realestate.com.au/property-house-nsw-googong-122717030?listingType=buy" target="_blank">Gouging Estate</a> (below) and the planned 208 square metre, three-bedroom, two-bathroom home has been listed for $551,000. The proposed design includes built in wardrobes, fencing and stainless steel appliances.  
 <img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%2011.11.34%20AM.png" alt="">
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What the $551,000 median house price gets in Canberra

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The Canberra residential market is complex with many factors interacting to affect demand, supply and ultimately prices, according to the latest Herron Todd White report.
The valuation firm suggested on a macro level, the Canberra residential market - aided by historically low interest rates - has a number of underlying positives including generally strong employment and a perception of good job security.
"With a transient population and periods where government departments employ graduates and new staff, both rental and sales demand increase.
"Population growth and interstate migration are considered main market drivers.
It suggested demand for family homes is a local market driver, second and third home-buyers with families are looking for centrally located housing in close proximity to schools and services.
Affordability remains an issue for this section of the market, HTW advised.
"With the sitting Liberal government re-elected, public service employment prospects remain steady, although some caution was evident in the lead up to the result.
"Winter is also traditionally slightly slower, so there is an expectation that Spring conditions and improved certainty after the election result will improve the overall market position."
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jchancellor-FAypfDUnLy

Affordability an issue for Canberra property upgraders

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Canberra home values have increased by 0.7 percent over the past three months and are 2.9 percent higher over the past year according to CoreLogic. 
CoreLogic' s Housing Market and Economic Update for August noted Values have increased by just 10.5 percent over the past five years. 
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%201.55.51%20PM.png" target="_blank">Click to enlarge</a>
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Canberra home values increase 0.7 percent over the past three months: CoreLogic

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The Commonwealth Department of Finance has secured a multi-million dollar, long-term lease for One Canberra in an off-market deal.
Owned by integrated property firm The Willemsen Group, the prestigious 'A' grade 24,065 sqm office building is just 500 metres from Parliament House Canberra.
It consists of five levels of flexible floor plates varying from 2,200 sqm to 5,000 sqm.
Raine &amp; Horne Commercial executive chairman Angus Raine spoke about the deal.
“The department has signed a lease that will run for more than 15 years, and it is one of the very few Commonwealth deals of this magnitude finalised over the past 3 years.”
Angus said the One Canberra lease demonstrates the perseverance and deal-making expertise of the team at Raine &amp; Horne Commercial Canberra.
“The One Canberra lease represents a fantastic effort from our Commercial Canberra office to see the deal through to completion 
“This was a drawn out transaction that was three years in the making, and involved the Department of Finance consolidating into one building, where previously it occupied five different locations in Canberra. 
“To take up the lease, the Department was also moving out of office space it owned. This issue needed to be worked through very carefully and delicately.”
The long-term lease is a compelling example of an owner, agent and tenant collaborating to deliver the final product, according to Mr Raine. 
The active heart of One Canberra, which is a short distance to Manuka Shopping Precinct, is a 1,000 square metre, 5-storey central atrium.
This atrium provides access across the building and between floors via generous aerial bridges and a helical stair.
The building has been designed and is independently modelled to achieve a 5 star NABERS rating independent of solar generation.
Considerable effort and analysis was invested in the design of each floor plate to maximise functionality and the penetration of natural light. 
There are three levels of basement which provide parking for almost 500 cars, a loading dock, extensive shower facilities, bicycle parking, gymnasium and over 700 square metres of tenant storage.
 
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Department of Finance signs annual multi-million dollar lease for One Canberra

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Unlisted property fund manager Quintessential Equity, has secured ACT Health as a new majority tenant at its office building in Canberra.
The recently refurbished building at 2-6 Bowes Street in Woden Town Centre will become the new home of ACT Health and 750 of its workforce.
The ACT Government agency has signed a long term, 15-year deal to occupy nearly 90 percent of the building and lease around 11,000 sqm of office space.
The formerly vacant building is now fully leased with existing tenants, the Commonwealth Government and Employment Plus, making up the rest of the office.
Quintessential Equity COO, Russell Bullen, said the arrival of ACT Health to Woden Town Centre is a huge vote of confidence in the area and firmly establishes its credibility as the epicentre of health administration in the nation’s capital. 
“We are delighted to welcome ACT Health to our Bowes Street property and we are excited at what it will mean for the area as a whole."
"The addition of 750 employees to Woden will be a much needed boost for the local community and we hope this Government agency relocation will pique the interest of other State and Federal Government departments and health related organisations to consider a move to the Woden Town Centre."
Purchased for $14 million in June 2012, the property underwent a nine month regeneration in 2014 designed to achieve a 5-star NABERS Base Building Energy Rating.
“The substantial upgrade of the property in 2014 - which included the installation of new lifts, services and refurbished amenities - completely transformed the building and the offering for potential tenants," Bullen said.
"It’s now fully equipped to provide high quality office accommodation for our tenants.” 
 
 
 
 
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Quintessential Equity secures ACT Health as new majority tenant at Canberra Property

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A seven-storey office tower fully leased to the federal government in Canberra CBD has been put up for sale by Credit Suisse Real Estate Investment Management.
The A-grade building at 62 Northbourne Avenue is being marketed by CBRE’s Mark Hansen, Andrew Stewart and Richard Butler through an international expressions of interest campaign.
“Canberra is a classic, safe haven investment, which has always attracted offshore money,” Hansen said.
“Because of the stability of tenure, fixed reviews and long-term leases that the Commonwealth government provides, we expect this property to attract the interest of a number of investors seeking security."
The building has a 5 star NABERS rating and is adjacent to a proposed light rail project.
Stewart said the Canberra market was benefitting from an influx of investors looking outside of Melbourne and Sydney.
“Canberra has seen some significant yield compression in the past two years, with it seen as the next go-to-market – offering a stable economy and strong tenancy profile in many assets,” he said.
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