The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

New South Wales

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Investa Land has exchanged contracts for their Central Coast Kooindah Waters Residential Golf and Spa Resort to ensure the company's focus remains on residential and industrial property.
Harman Global Holdings are the buyers of the 18 hole golf course, 108 room Mercure resort and remaining residential lots, in an off market transaction.
<img src="/images/2014/07/28/kooindah-july-28-breakout.jpg" alt="">
Investa Land chief executive officer Cameron Holt said that this is a strategic sale for the business.
“Investa Land acquired Kooindah Waters as part of a broader portfolio. The golf course and resort elements of this project are not core assets and are not consistent with our business model,” said Holt. They had bought the 95 hectare site in Wyong as part of its acquisition of Clarendon Property Group in 2005.
It includes a purpose built day spa, six conference rooms, restaurant, bar, 25 metre indoor lap pool, outdoor pool, tennis courts, gym and spa.
“The divestment will enable the company to focus on the delivery of sustainable residential and industrial development projects,” he said.
He noted that they were not intending to sell the residential component of the resort, however Harman wanted the remaining land in addition to the assets they were selling.
Investa Land will continue to be involved in the operations of the resort until an expected November 2014 settlement, and Harman has noted that Accor and Troon Golf will continue to manage the property after this time.
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jduke-EHk3XBmHkn

Investa Land sells golf and spa resort to focus on residential and industrial

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Patonga Beach Hotel on NSW’s Central Coast has been sold, five months after being listed with $10 million sale hopes.
Listed by the Osborne family, the Patonga Beach Hotel and the adjoining fish shop is set in the gully on the shores of Broken Bay at the mouth of the Hawkesbury River.
No sale price or buyer has yet been revealed.
It is the only hotel in a 12-kilometre radius.
It is opposite the Patonga Beach ferry wharf, popular with day-trippers and visitors from the Central Coast.
<a href="https://rca.joneslanglasalle.com.au/property-hotel+leisure-nsw-patonga-501053471" target="_blank">Jones Lang LaSalle Hotel and Hospitality Group agent John Musca</a> had the 1546 square metre hotel offering, the only hotel in the two bays.
"There's no doubt that by incorporating the adjoining fish shop building and subject to necessary approvals, you could expand the boutique accommodation to become another Raes on Wategos, in Byron Bay," Musca said.
"Many in the industry believe the hotel would be perfect for a celebrity chef hotel style repositioning, similar to that being embarked upon by TV chef George Calombaris in recent acquisition of the Hobsons Bay Hotel in Preston," the marketing suggested.
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jchancellor-FAypfDUnLy

Patonga Beach Hotel sold on NSW Central Coast

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Redlands, the Tudor-style mansion in 1.2 hectare gardens at Mittagong in the NSW Southern Highlands has been listed for sale.
Set high on Mt Gibraltar, the garden dates back to the 1930s design by Paul Sorensen.
The garden was commonly regarded as saved from ivy and blackberry by Michele Scamps and Dale Goodman who sold it for $3,575,000 in 2003 to the current vendor, the Klumper family.
It was briefly listed in 2012 at $3.3 million.
Now it has been <a href="https://www.mcgrath.com.au/buy/house-mittagong-nsw-2575/225094/?searchID=40807500" target="_blank">listed at $2.99 million plus through McGrath</a> agent Simon Doak.
Apparently there are some 130 plus trees including an European larch on the front lawn and another the pyramidal hornbeam.
Past owners included economist Dr John Hewson who bought it for $106,000 in 1977 and sold for $380,000 in 1985, a little before his stint as Federal opposition leader.
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Tudor-styled Redlands in the Southern Highlands listed

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Harry Triguboff's Meriton intends to amend approved plans for an 18 storey development in Dee Why, adding another storey to the mixed-use towers.
Formerly known as the Brookfield Multiplex site, the plot's previous owners had their plans approved in 2008. As works in accordance with those approved plans have been undertaken on the site, the council consent remains active.
Although Meriton plans to build a 19 storey development, the developers plan to keep the towers under the same 78 metre threshold. The company also wants to fit a greater proportion of residences into the site, and make changes to parking provisions and vehicle access.
In 2004, a masterplan with guiding principles for the site's development was put forward, including plans for a new Town Square.
The site is bounded by Oaks Avenue, Howard Avenue and Pittwater Road in Dee Why (pictured above).
The council is accepting public comment on Meriton's proposals until <a href="https://yoursaywarringah.com.au/planning-proposal-meriton-site-howard-avenue-dee-why-site-b-2014" target="_blank">4 August at their website</a>.
If you're marketing off the plan, you should consider signing up to the <a href="/news">Property Observer/Investorist free webinar off the plan marketing masterclass</a>.
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jrichardson-uRX5hFdKfN

Meriton files plans for Dee Why development

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Renovators and home builders can expect to be assisted under draft supporting regulations for new laws from New South Wales Fair Trading Minister, Matthew Mason-Cox.
Measures proposed by Mason-Cox as pat of the Home Building Act reforms include fast-tracking IPART reforms, that allow residential work under $5,000 to be done without a permit.
Also, property owners will be able to do work on their home up to the value of $10,000 without an owner-builder permit.
These are additions to amendments passed by the New South Wales Parliament in May that cleared up definitions around structural defects, and tightened licence eligibility to stamp out <a href="https://www.timebase.com.au/news/2013/AT644-article" target="_blank">phoenixing</a> (defined by ASIC as "the fraudulent act of transferring the assets of an indebted company into a new company to avoid paying creditors, tax or employee entitlements"). 
“For most consumers, building or renovating their home is one of the biggest financial undertakings they will ever make in life,” said Mason-Cox.
“Modernising the Home Building Act is absolutely essential to enhancing consumer protection and ensuring the ongoing viability of the building sector.
Other changes may include a review of the scope of some categories of work for licences and certifications. Feedback is also being sought on deregulating excavation work, cleaning work and some fencing so that licences and home warranty isn’t required.
“The reforms will reduce the cost of providing building and maintenance services and help ease the cost of living pressures for consumers across NSW, while still providing an appropriate level of consumer protection,” he said.
Stakeholders can <a href="https://www.fairtrading.nsw.gov.au">still comment on the reforms</a>, with a submission deadline of 15 August 2014. Resulting new laws are expected later this year. 
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Draft regulations to assist renovators released: NSW Fair Trading

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Kiloren, the six-hectare Southern Tablelands property with Edna Walling gardens, has been relisted for sale. 
It was installed in 1951 around the three-bedroom Crookwell house designed by architect John Mansfield for the Broadbent family. Walling was familiar with the climate given her Markdale, Binda commission for the Ashton family in the late 1940s. 
The Kiloren garden has been in the care of gardening author Jennie Churchill and her husband, vet Rob Churchill, for more than three decades.
<a href="https://www.drewlindsay.com.au/?property=kiloren-southern-tablelands" target="_blank">Drew Lindsay Real Estate is seeking </a>$1.2 million.
The six-hectare Crookwell property comes with one of the most intact Edna Walling gardens.
 Its classic Walling features include basalt walls and pathways softened by relaxed planting. 
Walling described it as one of her less formal designs. She believed that landscape architects should be involved from the earliest stage of the project when she worked around the house under construction on a bare hillside with just one tree. 
She brought plants from her own nursery at Bickleigh Vale, near Melbourne. There is a cottage within the grounds. 
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Edna Walling garden for sale at Crookwell's Kiloren

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The Block television personality Shelley Craft and her estate agent husband, Christian Sergiacomi, didn't find a buyer when their Byron Bay hinterland home, The Rise went to school holiday auction.
<a href="https://www.byronbaypropertysales.com.au/listing-71213-The-Rise" target="_blank">The tropical five bedroom, three bathroom hideaway </a>sits on 6,100 square metres at Ewingsdale in the hinterland.
The five-bedroon Ewingsdale offering has around 290 square metres floor space.
Jeremy Bennett, of Byron Bay Property Sales has it listed at $1.5 million plus.
It has been home to The Block co-presenter and husband, known as Serge, who has been a cameraman on The Block, since they bought it in 2010 for $1.61 million.
The couple recently spent $2.05 million on an 8,050 square metre property at neighbouring McLeods Shoot, a substantial discount as it had been initially listed for sale at $3.5 million-plus in 2010.
The couple are busy building on the property which was long owned by the McGettigan pioneering family who who first settled in Byron Bay in 1882.
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Shelley Craft yet to sell Byron Bay home

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Denfield House, the 1837 Georgian homestead at St Helens Park near Campbelltown, has been listed for sale.
More than $1.2 million is tipped by <a href="https://www.realestate.com.au/property-house-nsw-st+helens+park-117358807" target="_blank">Tim Doyle of Ray White Macarthur Group</a> for its 26 July auction.
It was built by early settler John Farley with the meticulously restored farmhouse now coming with four bedrooms, a study and a cellar. 
The one hectare grounds comes with a pool, cricket net, vegetable garden, fruit trees and enough room for the pony, the ad suggests. 
It is being marketed as one of the Macarthur's most treasured estates.
{qtube vid:=wZyBMVO-fVE}
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Denfield House, the 1837 St Helens Park Georgian homestead listed

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Vacancy rate changes are becoming notable within New South Wales and Sydney, and the the June 2014 Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey has noted what is occurring across the state.
REINSW president Malcolm Gunning noted that rates above 2% are considered neutral, and that some areas will be seeing an increase in vacancy rate as new rental accommodation is constructed.
Here are 10 locations in New South Wales notable in the survey.
<ul>
<li>ALBURY</li>
</ul>
Current vacancy rate: 1.1%
The vacancy rate has dropped by 0.5%, and this is down to levels that the REINSW notes they last saw in March 2003 where they dropped to 0.7%.
“Albury is a vibrant regional centre with lots of activity. It is growing and has solid employment opportunities. Less incentives for first homebuyers see people in the area renting for longer or those from metropolitan areas moving to enjoy a tree-change,” Gunning said.
<ul>
<li>ILLAWARRA</li>
</ul>
Current vacancy rate: 1.8%
The Illawarra’s vacancy rate has tightened by 0.1%.
<ul>
<li>WOLLONGONG</li>
</ul>
Current vacancy rate: 2.1%
This is a decrease of 0.3%.
<ul>
<li>HUNTER</li>
</ul>
Current vacancy rate: 3.3%
The area had a drop of 0.1%, led by a 0.4% decrease in Newcastle, to 3.5%.
<ul>
<li>CENTRAL WEST</li>
</ul>
Current vacancy rate: 4.4%
The area is down 0.3%.
<ul>
<li>RIVERINA</li>
</ul>
Current vacancy rate: 3.6%
The area is up 0.3%.
<ul>
<li>COFFS HARBOUR</li>
</ul>
Current vacancy rate: 3.6%
Coffs Harbour is up 0.2%.
See over page for Sydney metro (inner, middle and outer) vacancy rate details.
<hr class="system-pagebreak">
SYDNEY METRO:
Current vacancy rate overall: 1.8%
Across Sydney, the residential vacancy rates were notably unchanged on the whole – with opportunities for those looking for rentals.
Across Sydney’s entirety, the rate dropped 0.1%.
<ul>
<li>INNER</li>
</ul>
Current vacancy rate: 1.9%
<ul>
<li>MIDDLE</li>
</ul>
Current vacancy rate: 2.1% (biggest mover with a 0.4% drop)
<ul>
<li>OUTER</li>
</ul>
Current vacancy rate: 1.5%
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Vacancy rates to know: 10 New South Wales locations

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Real estate is a competitive business, and there are few people in the industry as competitive as real estate sales agents.
The new <a href="https://www.ratemyagent.com.au">ratemyagent.com.au</a> website, top agent rating and statistics website, platform provided Property Observer a list of the top 10 agents by state and territory across the country for the six months until the end of the 2014 financial year (1 January to 30 June) based on the number of sales recorded over this period (including sales where multiple agents are involved).
In discussing these figures, director and co-founder Mark Armstrong explained that the statistics come from available online listings and information agents can provide themselves.
The information on the website reveals how many sales the agent has been involved in, the total value of those sales and other information to assist consumers in choosing the agent to sell their property.
Agents are able to add information to their profile, however ultimately the strength comes from client-provided testimonials requested by the agent from sellers.
Today, we’re revealing those in New South Wales.
TOP NSW SALES AGENTS
<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/2014/07/04/yellow-one.jpg" alt="" style="float: left;"> Alexander Phillips (78)<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/2014/07/15/phillips-july-15-profile.jpg" alt="" style="float: right;">
Scoring a significant 78 sales, some 10 extra above the next sales agent on the list, Phillips from Phillips Pantzer Donnelley in <a href="/news">Woollahra </a>notes online that his annual sales range at 100 plus, and usually between $180 million to $200 million in annual turnover – and it appears he’s certainly on track to exceed the 100 sales for the year.
He sells anything from “$300,000 studios to multi-million dollar homes” and notes that: “For the last three years his listings have averaged just 22 days on market - less than half of the Sydney average.” <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/2014/07/04/yellow-two.jpg" alt="" style="float: left;"> Andrew Sorensen (68)<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/2014/07/15/sorense-july-15-profile.jpg" alt="" style="float: right;">
Next on the list is Raine &amp; Horne Charmhaven’s principal Andrew Sorensen who has been a much-decorated member of the real estate industry.
You might have seen him as a speaker at AREC this year. He also secured the number one ranking for sales and auctions nationally in 2013, as well as second in auction listings nationally in 2013 and third as salesperson ranked on principal dollar value across Australia.
It seems this isn’t slowing down and his ranking might secure him some more honours this year.
Sorensen also made it onto the much-enjoyed trade magazine Real Estate Business lists last year as both a top 100 agent and in the top 50 sales offices.
He has worked in the industry for 12 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/2014/07/04/yellow-three.jpg" alt="" style="float: left;"> Penny Stylianou (66)<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/2014/07/15/Stylianou-july-15-profile.jpg" alt="" style="float: right;">
From Century 21 John Ross Combined, located in Seven Hills, Stylianou is the director – sales consultant and has worked for the agency since 1994, with experience in real estate since 1983.
She has also been highly lauded, with a Centurion Award, putting her in the top 2% of the Century 21 group worldwide.
<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/2014/07/04/yellow-four.jpg" alt="" style="float: left;"> Norman So (62)<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/2014/07/15/Norman-So-july-15-profile.jpg" alt="" style="float: right;">
Strathfield Partners’ sales director So was previously Westpac Banks’ top finance lender in the Inner West, and his success has transferred well over to real estate.
So notes he moves 1.4 properties a week, has 3,000 buyers on his books, and holds a number of records across <a href="/news">Strathfield</a>, <a href="/news">Burwood</a>, <a href="/news">Homebush </a>and <a href="/news">Homebush West</a>.
His sales highlights for this year are noted as including Homebush West’s 29 Hampstead Road, which sold for $3.125 million, and 2 Barker Road Strathfield, which secured $2.25 million.
<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/2014/07/04/yellow-five.jpg" alt="" style="float: left;"> Tracy Yap (60)<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/2014/07/15/Tracey-Yap-profile.jpg" alt="" style="float: right;">
Yap, principal of Traey Yap Realty, with offices in <a href="/news">Epping </a>and <a href="/news">Chatswood</a>, has sold 2,000 properties over the past 15 years in the Northern District.
She is currently a finalist for Principal of the Year – Metropolitan award at Real Estate Business’ upcoming awards.
Yap opened her own office in 2004 and just recently opened the Chatswood branch.
To see who the other top five in the state are, see the next page.
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TOP NSW SALES AGENTS 5 TO 10
<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/2014/07/04/yellow-six.jpg" alt="" style="float: left;"> Alistair Agius (60)<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/2014/07/15/Alistair-Agius-july-15-profile.jpg" alt="" style="float: right;">
Century 21 John Ross Combined Seven Hills’s sales consultant Agius has a pharmacy background and has also previously been a commercial property manager for two years.
His latest sale is 23 Stuart Mould Crescent, <a href="/news">Lalor Park</a>, which is current under contract.
<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/2014/07/04/yellow-seven.jpg" alt="" style="float: left;"> Mark Kentwell (58)<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/2014/07/15/Mark-Kentwell-profile.jpg" alt="" style="float: right;">
PRD Nationwide Newcastle &amp; Lake Macquarie’s managing director and principal Kentwell was ranked as the number one selling principal nationally over the past six years.
He also achieved the Newcastle and Hunter Young Achiever of the Year Award and achieved the Harvey Douglas Award for Outstanding Contribution to the Real Estate Industry in 2010.
<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/2014/07/04/yellow-eight.jpg" alt="" style="float: left;"> David Choy (57)<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/2014/07/15/David-Choy-profile.jpg" alt="" style="float: right;">
McGrath Castle Hill sales agent Choy, a life time resident of the Hills District whose speciality suburbs include <a href="/news">Baulkham Hills</a>,<a href="/news"> Bella Vista</a> and <a href="/news">Castle Hill</a>, has worked the Hills property round for the last 17 years.
He has previously ranked as the number one agent in the state for a major real estate group, and is one of the top five within the McGrath brand internationally.
He makes equal eighth place.
<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/2014/07/04/yellow-eight.jpg" alt="" style="float: left;"> Ray Fayad (57)<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/2014/07/15/Ray-Fayad-profiile.jpg" alt="" style="float: right;">
Laing + Simmons Granville’s group principal Ray Fayad was the next to be ranked.
Having started his real estate career in 1996, it’s notable that he ranks in the top three income producing agents across the company, and has been involved in the sale of nearly 3,000 properties – including some that secured suburb records.
He currently heads the Laing + Simmons results across the state for sales, auction listings, exclusive listings and project marketing.
He makes equal eighth place.
<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/2014/07/04/yellow-eight.jpg" alt="" style="float: left;"> Renee Wright (57)<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/2014/07/15/Renee-Wright-profile.jpg" alt="" style="float: right;">
Wright has made seventh place through being involved in a number of sales, although not being the sole selling agent.
Actually Raine &amp; Horne Charmhaven’s principal Andrew Sorensen’s assistant, and a buyer’s agent, she has secured equal eighth place through her involvement in 57 sales from their office (based on listings online).
She was the 2008 Professional Assistant of the Year while working with RE/MAX Coastal Waters and previously had experienced as a property manager at George Brand Real Estate.
She has worked at Raine &amp; Horne Charmhaven since 2011.
As a result, we have included an extra sales agent on the list...
 
George Rafty (55)<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/2014/07/15/George-Rafty-profile.jpg" alt="" style="float: right;">
Rafty, noted as PRD Nationwide's top Australian selling agent for the past three years and a sales agent for PRD Nationwide Newcastle and Lake Macquarie sells over 100 properties a year and has worked in the real estate industry in Newcastle and its surrounds for the past 20 years.
He previously secured a record for <a href="/news">Adamstown </a>with a sale in excess of $1 million.
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