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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Over the second quarter of 2018, there were $4.5 million worth of resales at a loss for Canberra.
That accounted for 1% of the total value of losses nationally, according to the latest CoreLogic Pain and Gain report.
The market also recorded $248.3 million in realised profits which accounted for 1.6% of profits nationally.
Most of the losses were apartments.
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20CAN%202.JPG" alt="">
An example of some apartments which weren't quite loss makers, but barely budged were 37/3-5 Burbury Close Barton, ACT which gained $5,000 rising from $605,000 in 2010 to $610,000 during the June quarter.
At 61/30-32 Blackall Street Barton, ACT, the one bedroom, one bathroom apartment made just $100, a leap from $420,900 to $421,000 over the past five years.
<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/2018/9/24/Bunda%20bunda.jpg" alt="">
An apartment in the ACT that did make a outright loss is 512/240 Bunda Street City, ACT (pictured above).
The apartment sold for $445,000 in April this year making a loss of $17,900 on its last sale price of $462,900 in 2011.
It is the largest one bedroom apartment in the Manhattan on the Park development.
Over the quarter, the share of houses resold at a loss fell slightly while the share of unit resales at a loss rose, CoreLogic noted.
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20CAN%201.JPG" alt="">
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j.ballantyne1990-6AQqhLzZaK

Canberra house resale profits ticks up: CoreLogic

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Morris Porperty Group has announced its latest project in Canberra, The Barracks.
The mixed-use project is the 17th from the group within a 5 kilometre radius of the city centre.
The 2.6 hectare site was purchased in June and is located between London Circuit and Vernon Circle.
Architects Francis-Jones Morehen Thorp has been engaged for the project.
The projects first stage will include a public car park with 750 spaces.
Once completed, The Barracks will have around 6000 square metres of retail, including a supermarket and restaurants.
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Mixed-use precinct The Barracks coming to Canberra

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EXPERT OBSERVER
It’s timely that I will be speaking at the Canberra Property Investment Summit on Saturday.
The Canberra market continues to get stronger. The trend in the past 12 months has been steady improvement in the national capital, quarter by quarter - and there have been further advances recently.
And while the Belconnen District remains the market leader in Canberra, challenges are emerging from other sectors.
Hotspotting’s quarterly surveys of sales activity shows a pattern of steadily rising demand in the Canberra market.
Following our Winter survey three months ago, we commented that the Canberra market was “the busiest it’s been since the Price Predictor Index surveys started three years ago”. In this latest (Spring) survey, it’s got even busier.
This reflects other statistics depicting a strong Canberra market. Vacancies remain below 1% (only Hobart has lower vacancies among the capital cities), rents are rising strongly (more so than in any other capital city) and there is evidence of solid price growth in some sectors in the market.
This is particularly so at the top end of the market. Canberra currently has seven suburbs with median house prices above $1 million and all but one has recorded significant growth in their median prices in the past 12 months.
The median price for O’Connor has risen 20% to $1.17 million, Red Hill is up 15% to $1.45 million, Garran has jumped 17% to reach $1.05 million, Deakin is up 11% to $1.32 million and Griffith has grown 10% to $1.52 million.
In addition the suburb of Lyneham, with a median price in the $900,000s, has increased 14%.
Only Yarralumla among the millionaire suburbs has failed to record major median price growth in the past year.
This strong Canberra performance has been built on a local economy that is always solid, underpinned by high average incomes and low unemployment levels.
The ACT consistently ranks in CommSec’s State of the States report as the nation’s third strongest economy behind New South Wales and Victoria.
Hotspotting’s latest quarterly survey indicates that the Belconnen District is still the market leader. It has six suburbs with rising sales activity and others with steady sales performance.
Growth markets in the Belconnen District include Bruce, Belconnen, Flynn, Hawker, Higgins and Macgregor.
The Belconnen District has become an increasingly active market in the past three years.
Throughout both 2013 and 2014, dwelling sales were between 420 and 460 in most quarters, but in 2017 and 2018 all quarters have recorded more than 500 sales, including several with over 600 sales.
But there are now growth clusters right across the Canberra metropolitan area.
The Tuggeranong District has emerged as a challenger to Belconnen’s status as market leader. There are now five suburbs in Tuggeranong with growth trajectories, including Banks, Calwell, Condor, Gordon and Kambah.
The Districts of Gungahlin and Weston Creek both have multiple suburbs with upwardly-mobile sales activity.
Overall, the data adds to the perception that Canberra is a market on the rise, with good prospects for solid price growth in the next 1-2 years.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Why Canberra property stands out: Hotspotting's Terry Ryder

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There were $3.3 million worth of resales at a loss for Canberra which accounted for 0.8% of the total value of losses nationally, over the first quarter of 2018.
The market also recorded $214.2 million in realised profits which accounted for 1.4% of profits nationally, according to CoreLogic's pain and gain report.
<img src="https://www.urban.com.au/images/2018/7/5/PG%20Canberra%201.JPG" alt="">
Over the quarter, the share of houses and units resold at a loss increased slightly.
The climb in loss-making resales mirrors what is happening across most capital cities and reflects the slowing rate of value growth across the city.
Click to <a href="https://www.propertyobserver.com.au/images/2018/7/5/PG%20Canberra%202.JPG" target="_blank">enlarge</a>
<img src="https://www.urban.com.au/images/2018/7/5/PG%20Canberra%202.JPG" alt="">
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Canberra following capital city trend of slowing rate of value growth: CoreLogic Pain & Gain

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Canberra’s median house price rose by 27 per cent in the past three years, however it is slowing to an estimated three per cent in 2017/18.
The median house price sits at $700,000 at June 2018.
BIS Oxford Economics released a report this week that estimates that the Canberra market is roughly in balance at June 2018, although a very tight vacancy rate of 0.7 per cent was recorded in March quarter 2018.
This report suggests that part of this tightness is as a result of the removal of around 1,000 asbestos-contaminated houses from the dwelling stock in recent years.
Median house rents have been rising over the past 2–3 years, and unit rental prices are now following.
“In contrast to the low vacancy rate, new dwelling completions have reached a record peak in 2017/18 and this is likely to have been a contributor to the slowdown in house price growth,” said Angie Zigomanis head of BIS Oxford Economics' Residential Research Unit.
“Completions in Canberra also on track to remain elevated and close to record levels in 2018/19.”
Continued high levels of supply are expected to continue to dampen upwards pressure on prices, although with the highest household income of Australia’s capital cities, affordability remains attractive.
The BIS Oxford Economists forecast that this will result in price growth of five per cent in 2018/19, but progressively slowing over the following two years as the recent surge in population reverts to longer term averages.
Canberra’s median house price is forecast to rise by a total 10 per cent in the three years to June 2020, which reflects a rise of three per cent in real terms.
In contrast, the unit sector, where there is more supply coming through, is forecast by this report, to experience price growth of only six per cent, which is actually a two per cent fall factoring for inflation.
For a look at our take on the BIS Oxford Economics report for the national market check out, "<a href="/expert-insights/buying/melbourne-house-prices-forecast-to-tread-water-through-to-2020-21-bis">Melbourne house prices forecast to tread water through to 2020/21</a>".
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Canberra's median house prices stabilises after three year growth spurt: BIS Oxford Economics 

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EXPERT OBSERVER
Australia’s population expanded by 387,969 people over the year to December 2017 to 24,770,709 people. Overall, Australia’s annual population growth rate fell from an upwardly-revised 1.67 per cent (previous 1.60 per cent) to 1.59 per cent - still near the fastest population growth in 3 years.
<div class="x_WordSection1">
The ACT’s annual population growth rate rose from 2.08 per cent in the September 2017 to 2.15 per cent in the December quarter – the strongest growth rate in over 5 years. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/21/can-growth.jpg" target="_blank">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/2018/6/21/can-growth.jpg" alt="">
Employment rose by 57,900 in the three months to May after a gain of 60,600 in the previous three months. Over the past 12 months, 307,600 people have found jobs, down from 415,900 in the 12 months to February – near the largest annual increase on record. A record 12.54 million Aussies are employed.
Over the quarter, employment rose most in Public Administration and Safety (up 88,900), Manufacturing (up 41,100), Professional, Scientific and Technical Services (up 29,100) and Accommodation and Food Services (up 22,700).
Healthcare and Social Assistance remains Australia’s leading employer, employing 1.7 million people or 13.3 per cent of all jobs. Retail Trade is in second place with 1.3 million employees.
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/22/employers.jpg" target="_blank">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/2018/6/22/employers.jpg" alt="">
In the year to May, 57.5 per cent of those aged 60-64 years and 13.9 per cent of those aged 65 years and over were in the job market – both record highs.
In the year to May, the average weekly actual hours worked per person employed was just 31.8 hours – a record low. 
The demographic data on jobs provides insights on the job market, wages and prices, and ultimately on interest rates. The data on employment by industry gives insights into which industries are growing the fastest as well as insights on the performance of the broader economy.
</div>
<div class="x_WordSection2">
<h1>What does it all mean?</h1>
The Reserve Bank recently said that immigration supports Australia’s ageing population. Net immigration slowed during the December quarter. In fact it was the slowest annual growth rate in 2½ years. Migration did account for 62 per cent of total population growth. 
Canberra is cool. Long derided by other Aussies, population growth is the strongest in five years in the national capital. And its babies, not overseas or interstate migrants are driving population growth. According to the ACT government, natural increase will account for 62 per cent of the territory’s population growth by 2020.
Clearly Canberra is great for families, and its superior pay packets is attractive for young professionals. According to the Bureau of Statistics, Aussie public sector wages increased by 2.3 per cent over the year to March. And during the quarter to May, Public Administration and Safety jobs growth was the strongest across all occupations.
And there is no stopping Aussie Baby Boomers. There are more people aged between 60 and 64 years that are currently working than those not working. Senior Aussies are continuing to work due to improved health, technology, more jobs in the services sector, a need to boost superannuation savings and a rise in flexible work options. Older worker participation is expected to increase further because of a gradual rise in the retirement age from 65½ currently to 67 by 2023.
<h1>What do the figures show? </h1>
Population Statistics
Australia’s population expanded by 387,969 people over the year to December 2017 to 24,770,709 people. Overall, Australia’s annual population growth rate fell from an upwardly-revised 1.67 per cent (previous 1.60 per cent) to 1.59 per cent - still near the fastest population growth in 3 years.
Over the past year population growth was strongest in Victoria (2.30 per cent), followed by the ACT (2.15 per cent), Queensland (1.67 per cent), NSW (1.50 per cent), Tasmania (0.94 per cent), Western Australia (0.83 per cent), South Australia (0.62 per cent) and the Northern Territory (0.23 per cent).
The ACT’s population growth rate at 2.15 per cent is the highest since September 2012.
Australia’s population grew by 68,731 people over the December quarter, after growing by an upwardly-revised 104,450 people (previous 103,918 people) in the September quarter.
A total of 240,400 people migrated to Australia over year to December, up from an upwardly-revised 258,000 (previous 250,200 people) in the year to September. Migration growth is down from the peak of 315,700 migrants in the year to December 2008.
Net migration rose by 35,900 in the December quarter, but the change in annual migration in 2017 fell by 3,600 people, the slowest growth rate in 2½ years.
There were 308,500 babies born in the past year – lower than the record growth of 312,200 babies born in the year to March 2013 – but up by 4,300 births from the year to December 2016.
There were 160,900 deaths in the past year, up by 3,100 deaths from the year to December 2016.
Natural increase for the year ended 31 December 2017 was 147,500 people, up by 0.9 per cent or 1,300 people from the year to December 2016.
Industry Employment
Employment rose by 57,900 in the three months to May after a gain of 60,600 in the previous three months.
Over the past 12 months, 307,600 people have found jobs, down from 415,900 in the 12 months to February – near the largest annual increase on record. A record 12.54 million Aussies are employed. 
Over the quarter, employment rose most in Public Administration and Safety (up 88,900), Manufacturing (up 41,100), Professional, Scientific and Technical Services (up 29,100) and Accommodation and Food Services (up 22,700).
In the quarter, the number of jobs fell by the most in Transport, Postal and Warehousing (down 29,300), Retail Trade (down 29,100), Education and Training (down 28,600), Health Care and Social Assistance (down 26,000) and Construction (down 20,000).  
Over the year to May, 16 out of 19 sectors added jobs. The strongest gains were in Manufacturing (up 63,100), Professional, Scientific and Technical Services (up 52,700),Construction (up 47,100) and Health Care and Social Assistance (up 39,200).
Three sectors shed jobs over the past year including Transport, Postal and Warehousing (down 30,000), Other Services (down 28,900) and Retail Trade (down 400).
Health Care and Social Assistance remains the biggest employer with 1.7 million employees (13.3 per cent of the total) followed by Retail Trade (1.3 million jobs or 10.2 per cent), Construction (1.2 million or 9.4 per cent) and Education and Training (1.0 million or 8.0 per cent).
Detailed Employment
In the year to May, 57.5 per cent of those aged 60-64 years and 13.9 per cent of those aged 65 years and over were in the job market – both record highs.
At the same time that the participation of seniors are reaching new highs, younger Aussies are looking for work. But participation in the workforce of those between 15-19 years fell to 6-month lows of 54.7 per cent (year to May 2018). Workforce participation of those 20-24 years rose to 78.8 per cent in May, up from 78.6 per cent in April.
A greater proportion of young married women are also in work. In the year to May, an average of 75.6 per cent of married women aged 25-34 years were in the workforce – a record high.
In the year to May, the average weekly actual hours worked per person employed was just 31.8 hours – a record low. On average, people are working 2 hours a week less than they were a decade ago.
<h1>Why is the data important?</h1>
Demographic Statistics are issued by the Bureau of Statistics each quarter. The figures include estimates of births, deaths, in-bound and out-bound migration movements and estimates of population change by State.
The Australian Bureau of Statistics (ABS) provides detailed labour market figures one week after releasing ‘top level’ statistics of employment &amp; unemployment levels across states and territories. The detailed data is useful in identifying broader underlying trends and instructive about the health of the economy.
<h1>What are the implications?</h1>
The job market should continue to improve over the coming year. Business conditions are at near-decade highs and indicators of job vacancies and advertisements are at the highest levels for around six years.
There is still spare capacity but it is slowly being used. Wages should gradually lift over the year amid emerging skills shortages in some industries. Improved job security and rising sharemarkets (the ASX200 is at decade-high levels) should support consumer spending, despite elevated household debt and falling home prices in some cities.
Australia’s population is still growing, albeit down from recent breakneck rates. Rising numbers of Aussies adds to demand for a raft of businesses across a range of industry sectors. The lift in the growth of the population – and the physical population numbers – lift demand for roads, schools and hospitals, thus boosting the outlook for builders, building material companies and construction companies. Health, education and construction workers are also in high demand. 
Our way of life is changing and governments will need to meet the challenges of a larger population through superior urban planning and world class infrastructure, especially public transport in Australia’s growing capital cities.
CommSec expects official interest rates to remain unchanged until early next year.
Ryan Felsman is a senior economist at CommSec.
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jrobinson-rf4aSBido9

Canberra's population growth at five year high: CommSec

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A Canberra commercial office refurbishment has brought to life a section of a 1960s building.
Property developer ICON Developments, in conjunction with Camlen Property Group, worked with architects peckvonhartel to modernise the property at 10 Hobart Place.
Two of the building’s 10 floors have been transformed into flexible workspaces with an industrial-style aesthetic, including polished concrete floors, exposed ceiling services and glass internal corridor partitioning.
Other additions to the building include new end-of-trip facilities, including showers, lockers and change rooms, as well as bike storage.
The building has a total of 4,500 square metres of lettable area and spaces of from 65 square metres to 530 square metres are immediately available to prospective tenants. Further tenancy options from 180 square metres are also available for lease.
The site is close to the ACT Magistrates and Supreme Courts, The Australian National University (ANU) Action Campus, and Canberra Shopping Centre.
Ashley Murdoch from ICON Development said Canberra’s west precinct of the CBD has undergone recent activity in a bid to revitalise the city and make it a more vibrant and exciting place to work, live and visit, and to continue to attract investment.
“Through this refurbishment, we wanted to stay true to what makes the city unique. Located at the heart of the CBD and surrounded by so much of what gives Canberra its distinct character, the building represents professionalism and style within a corporate business environment,” said Murdoch.
The revitalisation also saw an 80s themed basement bar called ‘88mph’. 
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jonathanchancellor-7SQnKwU6yx

Canberra office undergoes modern refurbishment 

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A private island 90 minutes from Canberra has been given an official $600,000 to $650,000 price guide after failing to sell at recent auction.
The 91 hectare island is priced less than Canberra's $727,000 median house price.
Wade Island on Lake Burrinjuck, beside the historic village of Wee Jasper, last sold for $485,000.
Its only inhabitants currently are the wildlife, mostly kangaroos and wallabies.
Wade Island comes with approval for self-sufficient holiday cabins.
It can only be accessed by a land bridge - and only when they water is low.
Despite the lure of island life, sales campaigns for private islands typically can take years to complete.
There's the Port Stephen's Garden Island which sold six years after its initial listing.
Back in 2012 it was asking $6 million, before being advertised last April with $4 million hopes.
This was reduced to $2.75 million before its recent sale through McGrath Terrigal's Adrian Culpin.
The 1.4 hectare island was mostly overgrown when traded for $480,000 in 2001.
Award winning architect Philip Pratt was commissioned to design a home with a mix of Australian rural architecture and Japanese Modular design.
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Private island near Canberra listed for cheaper than city's median house price

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ICON Developments in partnership with Camlen Property Group have breathed new life into an office building, following an extensive refurbishment which has created a unique offering within Canberra’s Civic precinct.

10 Hobart Place is driving the trend for building owners to refurbish existing property to meet growing market demand in the capital, in order to enhance tenant amenity and attract tenants. Through this refurbishment, two of the building’s ten floors have been radically transformed into chic and flexible workspaces.

With many adjacent buildings being redeveloped into multi-residential projects, 10 Hobart Place provides a point of difference within Canberra's burgeoning Civic precinct, surrounded by a range of commercial, retail and residential buildings. 

10 Hobart Place totals 4,500 sqm of lettable space offering flexible tenancy areas with office space catering for tenants from 65 sqm to 530 sqm.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dmc_6193.jpg" rel="gallery-all" title="The refurbished interiors of 10 Hobart Place. Image: ICON"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/dmc_6193.jpg?itok=0UF6dBxw" title="The refurbished interiors of 10 Hobart Place. Image: ICON" width="580"></a>

<figcaption>The refurbished interiors of 10 Hobart Place. Image: ICON</figcaption></figure>The charm of its 1960’s exterior has been maintained, with the redesign of 10 Hobart Place delivering modern office accommodation with an industrial-inspired aesthetic, including polished concrete floors, exposed ceiling services and glass internal corridor partitioning.

Canberra’s Civic precinct has experienced a significant amount of development activity in recent years in a bid to revitalise the city and make it a more vibrant and attractive place to work, live and visit, and to continue to attract investment.

Working with peckvonhartel on the redesign, ICON has updated end of trip facilities, building amenities, services and tenant spaces to set a new standard for commercial occupiers in the heart of Canberra’s CBD. 

The building now offers new premium end-of-trip facilities, including separate male and female showers, lockers and change rooms, as well as bike storage.

<blockquote>
Through this refurbishment, we wanted to stay true to what makes the city unique. Located at the heart of the CBD and surrounded by so much of what gives Canberra its distinct character, the building represents professionalism and style within a corporate business environment.

As a design-focused developer, we always endeavour to create iconic projects that will stand the test of time, and by combining old and new, we believe that 10 Hobart Place does just that. Through this refurbishment we were able to offer cutting-edge office accommodation as well as contribute to the wider urban renewal we have been witnessing in the city.

We really wanted to attract vibrant professionals and establish a creative community within the building which in turn will have a positive impact on the precinct. To promote this cohesion, we have introduced a ground floor café and an 80’s themed basement bar called ‘88mph’ which has been well received by tenants.

- Ashley Murdoch, ICON Developments
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dmc_7105.jpg" rel="gallery-all" title="10 Hobart Place's premium end-of-trip facilities. Image: ICON"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/dmc_7105.jpg?itok=hjoKxd0e" title="10 Hobart Place's premium end-of-trip facilities. Image: ICON" width="580"></a>

<figcaption>10 Hobart Place's premium end-of-trip facilities. Image: ICON</figcaption></figure>Canberra's Civc precinct has become a highly sought after office market by both the private and public sector, having undergone a transformation in recent years into a mixed-use precinct, adding a diverse mix of residential and ground floor retail amenities within an established office location. 
Within the 10-storey building, two floors have concurrently been refurbished however further tenancy options from 180 square metres are available for lease.

The building is located in close proximity of the ACT Magistrates and Supreme Courts, The Australian National University (ANU) Action Campus, and Canberra Shopping Centre.
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Laurence Dragomir

ICON breathes new life into a 1960's Canberra office building

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The Canberra retail market, like markets across the country, have experienced difficult trading conditions over recent years, although some improvement has been noted of late.
Retail sale statistics issued in February by the ABS indicate growth has remained unchanged in seasonally adjusted terms in the ACT.
The trend is stable for retailers. Against this backdrop of retail activity is the geography of Canberra’s commercial property.
Retail areas in the ACT are structured to reflect the principles of a hierarchical system of centres, which comprises: The City Centre (also known as Canberra City or Civic), Town Centres (Woden, Belconnen, Tuggeranong, and Gungahlin), Group Centres include (Calwell, Charnwood, Chisholm, Conder, Curtin, Dickson, Erindale, Hawker, Jamison, Kaleen, Kambah, Kingston, Kippax, Manuka, Mawson, Wanniassa, Weston), and Local Centres.
Consequently, the ACT is well catered for the provision of goods and services. 
Although population continues to increase, supply levels of retail premises remain high and demand generally soft especially for those smaller local shopping centres that have struggled with declining patronage given the attraction of Group Centres and the Town Centres providing competition from larger supermarkets with a greater range of products.
Rents vary depending on the location, size and strength of the centre, plus the use and attributes of the premises.
The outlook for the Canberra retail market is for slow-medium take-up levels to continue over the next 12 months, with a need for incentives to continue.
A Canberra CBD two storey commercial building of approximately 365 square metre has been sold for $1.025 million (pictured below).
<a href="https://www.realcommercial.com.au/property-retail-act-city-501962422" target="_blank">Located at 19-21 East Row</a>, it is within close proximity to the End of Trip for the proposed Light Rail on corner of Northbourne Avenue &amp; Alinga Street.
As a part of the Iconic Sydney Building, the ground floor has leased to Alice Thai Restaurant, while first Floor is presently vacant.
<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/2018/4/11/east%20row.jpg" alt="">
A Phillip property currently set up as a restaurant in the Sky Plaza has been listed for sale with $875,000 hopes (pictured below).
It is presented by David Toner from BMR Commercial. 
<a href="https://www.realcommercial.com.au/property-retail-act-phillip-502744322" target="_blank">Located at unit 167, 98 Corinna St</a>, the 121 square metre property features car parking and an exclusive designated alfresco area.
<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/2018/4/11/corinna%20st.jpg" alt="">
 A Weston 136sqm unit has been listed currently on the rental market is priced at $66,733 (pictured below).
<a href="https://www.realcommercial.com.au/property-retail-act-weston-502431134" target="_blank">The 8/21 Brierly St unit</a> is approximately 136 square metres and directly adjacent to the entrance of Cooleman Court.
The unit has recently been refurbished to create a more modern retail premise.It includes a large open shopfront, shopfront windows, access to toilets, and a back office/stock room. <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/2018/4/11/weston%20.jpg" alt="">
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