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

COVID

EXPERT OPINION

COVID-19 has changed the world in ways that will never be undone, and just as we&rsquo;ve adapted to the &lsquo;new normal&rsquo;, we&rsquo;ve also acquired a new perspective on how we view our homes.

Up until recently, the notion of spending every hour of every day for months on end cooped up inside your home - with your entire family - would have seemed absurd, and a little terrifying. For many, our sanctuaries became stressful cesspools, as work, school, and play became compressed inside our four walls. It&rsquo;s no wonder Australians are spending a record one billion dollars a month on renovations.

COVID lockdowns have magnified the niggling inadequacies of our homes and caused shortcomings we previously overlooked to become daily bugbears. The old desk shoved in the spare room doesn&rsquo;t cut it as a functional space to work from home, the kitchen counter can&rsquo;t double as a classroom for weeks on end, and the low maintenance yard, for those of us lucky enough to have one, doesn&rsquo;t add much spice to a life that&rsquo;s become infinitely more constrained. COVID&rsquo;s forced us all to re-evaluate many aspects of our lives, and one big-ticket item is our home. Homeowners are realising the importance of having a space that&rsquo;s far more functional and comfortable to inhabit.

Research by Stockland reveals almost three quarters of Australians are rethinking their living situation, while 80% say they&rsquo;re more aware of how their home and environment affects their wellbeing, and 10% are currently planning to move to a new dwelling that better suits their needs. But what are these needs exactly?

<img alt="" height="634" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lennox_pool_.jpg" width="1200" /> 
The swimming pool in The Lennox in Parramatta. Image supplied

Health and wellbeing

Pre COVID-19, most of us had never given aerosols the slightest thought, but no doubt anyone living in an apartment this past year has wondered at some point what airborne intruders might be wafting under the door or through the vents. Air purifiers sold out during the Black Summer bushfires, and who can forget the Sydney water crisis in the late 90s, which forced millions of residents to boil their tap water due to parasite contamination.

Lockdown has increased the intimacy we have with our homes, and our reliance on them. A simple investment like a water purification system for a building project can pay dividends. Some reports suggest 70% of buyers would be willing to spend an extra US$1,000 for air and water filtration systems alone in a property. Developers shouldn&rsquo;t underestimate the pull of such features when marketing their properties. Relatively small investments like these can have a big impact on how desirable the property is to buyers. Other ways to stand out when marketing your property include offering low VOC paint options, antimicrobial surfaces such as benchtops and handles, and even low allergy flooring.

Biophilic design is becoming a must too. It aims to integrate nature into the built environment and improve the wellbeing of occupants. Numerous studies have shown the stress and wellbeing benefits of indoor plants, and incorporating greenery and functional outside spaces into your design is another simple way to entice buyers. For those looking at the prospect of apartment living, simply having a space to take your child for a quick play without having to leave your address can be very valuable. But the space must be functional and appeal to the target demographic of your project. Communal spaces should not be a &lsquo;cut and paste&rsquo; addition, they should be designed with the buyer in mind.

With the Waterbrook Retirement Lifestyle Resort, we created a sense of serenity and calm by incorporating floor to ceiling windows and skylights to flood shared amenities with natural light and sustain a variety of plants inside the building. Knowing the residents would rely heavily on the communal spaces for their leisure time, we wanted to create a serene and pleasant environment that feels like an extension of their private residences.

Bespoke design at an affordable price

One factor hampering apartment living is the often the dull, generic, and limited design alternatives on offer. You only have to look at the lacklustre performance of some developments in areas like Zetland, Waterloo in Sydney, or Docklands in Melbourne to see that poor standards or a glut of cookie-cutter options puts buyers off. But, by adding some smart features and options you can position your property as a preferable alternative to others on the market.

Increasing fitout and design options usually increases costs and complexity of the build, but it doesn&rsquo;t have to. When designing The Lennox, we wanted to ensure buyers at every price point felt like they could make their space their home.

[smartcode_project:default project_id=5743 project_image_fid=82396]

We were able to offer six variations of the two main themes offered: sleek and classic. We did this by selecting colours and materials that worked well together in a variety of combinations, which allowed us to turn the usual two- tone option into several alternatives for buyers. We also selected a different plank width and installation pattern for a more opulent feel in the larger apartments. We offered ceramic and marble alternatives in a single tile pattern and gave options for the benchtop stone to be wrapped around the island in place of wood to create a more luxurious effect for buyers who wanted it. By implementing clever design, we were able to maximise choice for buyers, while maintaining a streamlined process for the developer and builder.

Customisable design is another string in your marketing bow. Buyers conduct about 90% of their research for a new home online, so having customisable options to show in your sales collateral is a huge plus for your project. Creating a design that&rsquo;s tailored to your project&rsquo;s demographics doesn&rsquo;t need to be difficult, you just need to select a good designer who can create a unique identity for your project that will catch the eye of the right buyers.

About Lorena

Lorena is an award-winning interior designer with more than 20 years&rsquo; experience designing for property developers, including several Fortune 500 companies, in the US, China, and Australia.&nbsp;

Some of her most recent projects here include&nbsp;The Lennox&nbsp;in Parramatta for which she won a Gold Nugget Award, and the&nbsp;Waterbrook&nbsp;Retirement Lifestyle Resort in Bowral. She also has an extensive&nbsp;portfolio&nbsp;of work for individual homeowners. Lorena&rsquo;s based in Sydney where she heads an all-female team of interior architects and designers.&nbsp;

One factor hampering apartment living is the often the dull, generic, and limited design alternatives on offer

What the ‘new normal’ means for developers as buyer expectations shift: Interior designer Lorena Gaxiola

The NSW Government has ruled that residential tenants will have greater protection during the escalating lockdown with a targeted eviction moratorium.  

Additionally residential landlords who decrease rent for impacted tenants can apply for a grant of up to $1,500 or land tax reductions depending on their circumstances.
 
Commercial and retail landlords will need to attempt mediation before recovering a security bond, or locking out or evicting a commercial or retail tenant impacted by the Public Health Order.

Commercial, retail and residential landlords liable for land tax will be eligible for a land tax concession where they reduce the rent of their tenant.

The temporary tenancy moratorium introduced in 2020 to restrict when landlords could evict tenants due to rental arrears as a result of COVID-19 ended on 26 March 2021.

From 27 March 2021, a six-month transitional period had begun.

The six-month transitional period saw COVID-19 impacted tenants who accrued rent arrears between 15 April 2020 and 26 March 2021 not being subject to the standard tenancy eviction rules for those arrears.

Tenants and landlords were being assisted by Fair Trading to negotiate repayment plans for arrears accrued during the moratorium period. Under the transition landlords were only be able to evict these tenants for these arrears if they have first attempted in good faith to negotiate a repayment plan. 

It also has to be fair and reasonable to evict.

If a landlord and tenant have agreed to a repayment plan, the tenant cannot be evicted unless they have failed to meet agreed repayments on two consecutive occasions.

COVID-19 impacted tenants are also permanently protected from being listed on tenancy databases for arrears accrued during the moratorium period.

Landlords were able to terminate any tenant under standard provisions for arrears accrued after the moratorium measures ended on 26 March 2021.

The NSW Government has announced the new support for landlords included up to $210 million in grants to eligible landlords.The land tax relief will be equal to the value of rent reductions provided by landlords to financially distressed tenants, up to 100 per cent of the 2021 land tax year liability.
 
Minister for Better Regulation Kevin Anderson said the short-term tenancy and landlords support package will provide renters and landlords with immediate assistance during the COVID-19 lockdown.
 
“These measures hinge on landlords and tenants working together through this challenging period and we encourage both parties to enter negotiations in good faith.
  
For more information visit: https://www.fairtrading.nsw.gov.au/

The latest eviction measures were announced by the NSW Government amid an economic support package worth billions of dollars aimed at helping businesses and people right across the state fight through the current COVID-19 lockdown.
 
The commitment will now be up to $5.1 billion, including more than $1 billion from the Commonwealth as part of a business and employee support program.
 
The business grants program announced two weeks ago has been expanded, with grants between $7,500 and $15,000 available to eligible businesses with annual wages up to $10 million. 

A new grant program has also been introduced for smaller micro businesses with turnover between $30,000 and $75,000.



Residential landlords who decrease rent for impacted tenants can apply for a grant 

jchancellor-FAypfDUnLy

Sydney apartment tenants secure eviction moratorium in lockdown measures

The Lewis Land Group are providing its staff of 650 with two days paid vaccination leave.

The aim was to encourage their whole team to get the jab as soon as possible, its chief executive, Matthew McCarron said.

&quot;We know that the only pathway out of the dangerous and disruptive cycle of lockdown is via vaccination.&nbsp;

&quot;We also believe that it&rsquo;s incumbent on all businesses &ndash; big and small &ndash; to support the acceleration and advancement of this effort.&quot;

Lewis Land have also offered sites as community vaccination hubs.

Lewis Land Group is Australia&#39;s oldest private property developer having been founded by Bernard Lewis in 1957.

[smartcode_project:default project_id=32227 project_image_fid=93945]

It has since developed more than 20,000 residential lots including land at Endeavour Hills in Melbourne and Campbelltown in Sydney.

In the 1980s it developed waterfront canal and inland island developments such as Paradise Point Keys, Huntington Harbour, Key Biscayne, Grand Canal, Biggera Waters and Runaway Islands.&nbsp;

&quot;The crown of these was The Sovereign Islands, followed by Ephraim Island,&quot; their website advises.

Its current major project is Sovereign Hills is a mixed-use master planned community in Port Macquarie, which will have 2,400 lots plus a 25,000 sqm town centre with retail, commercial and leisure space, schooling and childcare, recreational facilities, and parklands.

The display village at Sovereign Hills was newest opened last April by Minister for Housing Michael Sukkar with 14 builders and 21 homes, the largest village between Newcastle and the Gold Coast.&nbsp;

Lewis Land Group are providing all 650 staff with two days paid vaccination leave to encourage their whole team to get the jab as soon as possible

Lewis Land Group lead property industry with Covid vaccination leave initiative 

From Tuesday 13 July 2021 you must wear a fitted face mask when you are in an indoor area of common property in a Sydney residential apartment building.

It covers strata titled, community titled and company titled complex.

Residents do not need to wear a mask inside their apartment.

It comes as a block of 29 apartments in Sydney's east has seen a covid breakout within five apartments in the complex.

The common areas where you must wear a mask include: 

a shared foyer or lobby of an apartment block; the lifts, stairwells and corridors and shared laundry facilities.

Masks must be worn by anyone entering including residents and visitors, building managers, concierge staff and cleaners.

Masks must also be worn by people providing goods and services including tradespeople and contractors along with people delivering food, mail and parcels. 

From Tuesday 13 July 2021 you must wear a fitted face mask when you are in an indoor area of common property in a Sydney residential building 

Masks compulsory from July 13 on Sydney apartment common property

<html><body>
Expert Observer

The standout feature of the behaviour of our politicians is the degree to which they are out of touch with their constituents and the impact of the decisions they make.

In the real estate sphere, the most startling recent example was the knee-jerk decision-making of state and territory governments in favour of pandemic-affected tenants, without any regard for the impact on the mum-and-dad households who own an investment property.

Equally, our elected representatives collectively appear oblivious to the rental shortage crisis that exists in most (not all) locations across the nation.

The situation has become dire in many parts of Australia, with queues of prospective tenants showing up at open houses and candidates offering more than the asking rent and/or offering to pay six or 12 months in advance to beat the competition.

Here’s the current situation …

According to the monthly report from SQM Research, vacancy rates in our already-tight rental markets fell in six of the capital cities and were unchanged in the other two in January.

The national average vacancy rate fell from 2.2% in December to 2% in January, but five capital cities – Perth, Adelaide, Canberra, Darwin and Hobart – all have vacancy rates below 1%, while Brisbane sits at 1.7%.

[smartcode_project:default project_id=8240]

Throughout regional Australia, many centres have vacancy rates below 1% in what represents a national rental crisis for people seeking tenancies. It’s common to find regional locations where the vacancy rate is closer to zero than to 1%.

Keep in mind the industry benchmark is that vacancy rates below 3% represent a shortage of rental properties. Below 1% is a dire situation.

The two biggest cities, where vacancies are highest, showed marked improvements in January, with Sydney falling from 3.6% in December to 3.2%, and Melbourne falling from 4.7% to 4.4%.

SQM CEO Louis Christopher says the figures provide more evidence the worse is over for landlords in the Sydney and Melbourne rental markets. 

He says: “The falls in vacancy rates for the month in those two cities, combined with the increased tightness in other cities and regions, has now brought rental vacancy rates down to below where they were prior to the outbreak of Covid19.”

Christopher says the data, overall, suggests that 2021 will remain largely a tenant’s market in the inner-city areas of the biggest cities “but will also very much remain a landlord’s market for regional Australia”. It would add to that the smaller capital cities – as shown earlier, six of them have ultra-tight rental markets. 
He also notes that rents for both houses and units have risen in the capital cities, on average, over the past month.

In annual terms, the national average is a 10% rise in house rents and a 4% increase in apartments rents.

The growth has been higher in regional markets than in the capital cities, with Sydney and Melbourne rents still lower on average than a year ago.

But there have been strong rises in Perth, Canberra and Darwin.

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In Perth, rents have risen 11.5% for houses and 12.3% for apartments, while in Darwin house rents have increased 27% in 12 months. In Canberra rents have risen around 6% for both houses and units.

The repercussions are spreading well beyond the immediate participants, tenants and landlords. Businesses in regional areas are struggling to find the workers they need because people interested in taking the jobs on offer can’t find anywhere to rent in those areas.

So what are our elected representatives doing about that? Essentially, nothing. They give the impression that aren’t even aware of the problem. This situation is just not part of the national discussion.

Partly mainstream media is to blame. Our major newspapers, especially the Fairfax ones, have been focusing their coverage on the few places in the nation that have high vacancies, specifically inner-city Melbourne and inner-city Sydney and creating the impression that we have an over-supply of dwellings – which is laughable.

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Federal Labor, if they had their way, would make matters worse by scrapping negative gearing, which would be a huge disincentive to investors.

What we need is the opposite – measures to encourage people to buy investment properties and make them available for rental. Rental vacancies are an outcome of the activity of investor buyers – and their absence in recent years is a chief reason we have this crisis.

HomeBuilder is helping the situation by encouraging the creation of new dwellings, but more needs to be done.

If politicians want to help tenants, they need to encourage landlords – instead of treating property investors (most of them ordinary mum-and-dad households) as a criminal class.

Terry Ryder is the founder of hotspotting.com.au

ryder@hotspotting.com.au

twitter.com/hotspotting
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According to the monthly report from SQM Research, vacancy rates in our already-tight rental markets fell in six of the capital cities and were unchanged in the other two in January.



terryryder

Mum and dad investors hit by favourable COVID-affected tenant rules: Hotspotting's Terry Ryder

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Internal migration resulted in a net loss of 11,200 people from Australia’s capital cities in the September quarter of 2020, according to Australian Bureau of Statistics <a href="https://www.abs.gov.au/statistics/people/population/regional-internal-migration-estimates-provisional/latest-release">data</a> released this month. At the same time, some regional areas experienced significant <a href="https://www.abc.net.au/news/2021-01-04/house-prices-rise-1pc-regional-beats-capital-cities/13029268#:%7E:text=Annual%20data%20by%20real%20estate,research%20director%20Tim%20Lawless%20said.">growth in house prices</a> as <a href="https://thenewdaily.com.au/finance/property/2020/12/04/regional-australia-property-boom/">demand for properties</a> increased. So this has raised the questions: are we starting to see an <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2021-02-02/abs-data-confirms-city-exodus-during-covid/13112868">exodus from our cities</a>, and is this related to the COVID-19 pandemic?

To work out what is happening there are a few important things to consider.

<h2>In Australia we move a lot</h2>

The first thing to keep in mind is that Australia has one of the <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0%7E2016%7EMain%20Features%7EPopulation%20Shift:%20Understanding%20Internal%20Migration%20in%20Australia%7E69">most internally mobile populations</a> in the world. About 40% of the population change their addresses at least once within a five-year period. However, the level of internal migration within Australia has <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0%7E2016%7EMain%20Features%7EPopulation%20Shift:%20Understanding%20Internal%20Migration%20in%20Australia%7E69">fallen since the 1990s</a>.

The greatest fall has been for long-distance moves between Australia cities and regions, which <a href="https://www.abs.gov.au/statistics/people/population/migration-australia">declined by 25%</a> between 1991 and 2016. Moves between states and territories <a href="https://www.abs.gov.au/statistics/people/population/migration-australia">fell by 16%</a> over this period. An increase or decrease in internal migration from year to year is not unusual.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="chart showing net internal migration figures from September quarter 2010 to September quarter 2020" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=420&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=420&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=420&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=528&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=528&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/383668/original/file-20210211-19-dvgm7d.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=528&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption><a class="source" href="https://www.abs.gov.au/statistics/people/population/regional-internal-migration-estimates-provisional/latest-release">Data: Australian Bureau of Statistics, Regional internal migration estimates</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/">CC BY</a></figcaption></figure><h2>Putting the numbers into context</h2>

While the recent loss of 11,200 people from Australia’s capital cities is the largest on record, it’s not a significant proportion of the population. Australia’s population has grown and so we expect to see the number of internal migrants to grow too.

The net loss of 11,200 people from capital cities is only 0.06% of the <a href="https://www.abs.gov.au/statistics/people/population/regional-population/2018-19">total population</a> – 17.2 million – living in these cities. This is comparable to recent years.

While net loss – those arriving less those departing – is interesting, it is also important to consider the actual numbers of people who are moving to or leaving capital cities. The growth in the net loss of population from capital cities in the September quarter was not the result of a city exodus. What happened in 2020 was that fewer people moved into capital cities.

Drilling down further behind the headline data, we find Brisbane, Perth and Darwin all had net population gains. Brisbane has gained residents through internal migration in <a href="https://www.abs.gov.au/statistics/people/population/regional-internal-migration-estimates-provisional/sep-2020/3412055005DS0001_202003.xls">each quarter since 2014</a>.

The greatest contributor to the recent net quarterly loss of 11,200 was Sydney, with a net loss of 7,782 people. Melbourne was close behind with a net loss of 7,445.

While this might look alarming at first, Sydney and Melbourne are the largest population centres in Australia. And Sydney has recorded a net loss of population through internal migration <a href="https://www.abs.gov.au/statistics/people/population/regional-internal-migration-estimates-provisional/sep-2020/3412055005DS0001_202003.xls">every quarter for the past two decades</a>. Melbourne recorded net losses until 2012 and then since 2017.

Sydney and Melbourne’s overall population continued to grow over this period due to international migration. Population churn is part of the rhythm of these global cities.

The <a href="https://www.abs.gov.au/statistics/people/population/regional-internal-migration-estimates-provisional/sep-2020/3412055005DS0001_202003.xls">data</a> also reveal that, on average, regional Australia has been gaining population for many years – decades actually. Moving to regional Australia is not new.

The past year’s COVID-19 restrictions closed Australia’s borders to the previously <a href="https://www.abs.gov.au/statistics/people/population/migration-australia/latest-release#net-overseas-migration">large numbers of international migrants</a>. Without these international migrants moving to capital cities, the long-term trend of people relocating to urban areas around major cities has become more apparent.

<h2>Have the capital cities lost their appeal?</h2>

Just considering the September 2020 quarter, <a href="https://www.abs.gov.au/statistics/people/population/regional-internal-migration-estimates-provisional/latest-release">nearly 42,000 people</a> moved to capital cities. This is comparable to the March and June quarters of 2020.

This inflow is noteworthy. At a time when many capital cities had mobility restrictions related to COVID-19 in place, people were still moving to these cities. Australia’s capital cities <a href="https://www.abs.gov.au/articles/300000-more-people-living-capital-cities">have not lost their appeal</a>.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="Table showing quarterly internal migration for greater capital cities in September 2019, June 2020 and September 2020" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=241&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=241&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=241&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=302&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=302&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/383690/original/file-20210211-23-ncinci.png?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=302&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>Click on table to enlarge. <a class="source" href="https://www.abs.gov.au/statistics/people/population/regional-internal-migration-estimates-provisional/latest-release">Data: Australian Bureau of Statistics, Regional internal migration estimates Feb. 2021</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/">CC BY</a></figcaption></figure>There is a risk in interpreting net migration from capital cities as an indicator of decreasing satisfaction with city lifestyles or a growing desire for rural lifestyles. It masks the <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook43p/regionalpopulation">considerable variability</a> in the types of moves people are making, where they are going and why.

Outside of capital cities are a whole range of different community types. They range from expansive city areas such as the Gold Coast and Geelong through to tiny agricultural and fishing hamlets.

The <a href="https://www.abs.gov.au/statistics/people/population/regional-population/latest-release">fastest-growing areas outside capital cities</a> are those that offer sophisticated urban settings. They have diverse employment options and high-order social, education and healthcare infrastructure. So when people leave a capital city, more often than not <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Previousproducts/3218.0Feature%20Article12016-17?opendocument&amp;tabname=Summary&amp;prodno=3218.0&amp;issue=2016-17&amp;num=&amp;view=">they are moving to a large city</a>.

<h2>Will COVID-19 lead to growth in smaller centres?</h2>

Australia’s overall population growth has <a href="https://www.pmc.gov.au/sites/default/files/publications/planning-for-australia%27s-future-population.pdf">promoted the growth of capital cities and larger regional cities</a>. Some smaller communities, particularly high-amenity coastal towns, have also experienced periods of sustained population growth.

Distributing this growth further inland to smaller towns and cities is both possible and plausible.

A major barrier to population growth in smaller rural communities is the lack of diverse local employment options. For those who have made the transition to <a href="https://theconversation.com/coronavirus-could-spark-a-revolution-in-working-from-home-are-we-ready-133070">working fully or partially online</a> as a result of COVID-19 restrictions, <a href="https://theconversation.com/more-urban-sprawl-while-jobs-cluster-working-from-home-will-reshape-the-nation-144409">moving further from their workplace more permanently</a> – and perhaps to the country – could be on the cards.

<h2>So is there a pandemic-related exodus?</h2>

The COVID-19 pandemic is disrupting the way we live our lives but, no, there is not an exodus from Australia’s capital cities. For some, pandemic-related disruptions might have heightened their dissatisfaction with where they live. For others, working from home might have provided them with the opportunity to consider alternative living arrangements.

However, right now, given the data we have, it is unlikely that COVID-19 is driving a shift away from capital cities or city lifestyles.<img alt="The Conversation" height="1" src="https://counter.theconversation.com/content/154724/count.gif?distributor=republish-lightbox-basic" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" width="1">

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/has-covid-really-caused-an-exodus-from-our-cities-in-fact-moving-to-the-regions-is-nothing-new-154724">original article</a>.

 

<h2>READ MORE:</h2>

<a href="/expert-insights/buying/regional-markets-see-a-significant-increase-in-value-corelogic" target="_blank">Regional markets see a significant increase in value: CoreLogic</a>

<a href="/expert-insights/buying/first-home-buyer-trends-will-2021-be-the-renaissance-of-the-suburbs" target="_blank">First home buyer trends: Will 2021 be the renaissance of the suburbs?</a>
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The 'exodus' from capital cities amounts to 0.06% of their populations – similar to recent years – and people are still moving to the cities. What's missing is growth driven by international migrants

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