Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Victoria

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Victorian Real Estate Agency Hodges has rebranded to coincide with its 160th birthday with development by creative partner Traffic.
Hodges chief executive officer Carmel Baker said the new look and feel will ensure that we stay fresh, contemporary and relevant.
Trafffic chief executive officer Andrew Beggs said they has kept the orange colour as this had always been a part of the Hodges DNA but  softened the black to a light, warmer grey and added in a fresh yellow to give it a more contemporary, brighter feel.
“The 'H' is made up from the + symbol to bring to life the core promise that 'you get more with Hodges',” he said.
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Victorian agency Hodges rebrands

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The Investar website has identified the cheapest Victorian towns for rents.
Rank Suburb State Postcode Dwelling Type Bedrooms Weekly Median Rent
1 STAWELL VIC 3380 Unit Studio &amp; 1 $115
2 MOE VIC 3825 Unit Studio &amp; 1 $120
3 NEWBOROUGH VIC 3825 Unit Studio &amp; 1 $120
4 MORWELL VIC 3840 Unit Studio &amp; 1 $130
5 HAMILTON VIC 3300 Unit Studio &amp; 1 $130
6 SWAN HILL VIC 3585 Unit Studio &amp; 1 $135
7 PORTLAND VIC 3305 Unit Studio &amp; 1 $145
8 ECHUCA VIC 3564 Unit Studio &amp; 1 $145
9 BENALLA VIC 3672 Unit Studio &amp; 1 $150
10 MOOROOPNA VIC 3629 Unit Studio &amp; 1 $150 
 
{mijopolls 140} 
 
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Stawell leads Victoria's 10 cheapest rental towns: property investor poll

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The Victorian town of Cobram tops CoreLogic RP Data's latest list for median gross yields for units at 7 percent.
Its yield sits considerably higher than the national average of 4.63 percent.
<a href="/images/2016/05/13/Screen%20Shot%202016-05-15%20at%208.36.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/13/Screen%20Shot%202016-05-15%20at%208.36.12%20AM.png" alt="">
Property Observer profiles Cobram from a rental perspective.
The median sale price of a unit in Cobram was $170,000, compared with a national average of $438,000, over the last 12 months, according to the data. 
The median price change over one year was 5.26 percent.
Median rent for units was $230pw in Cobram against a national average of $390.
Property Observer looked up a few units around the median range available for renting around the median for Cobram on www.realestate.com.au.
 <img src="/images/2016/05/17/main.jpg" alt="" width="644" height="483">
1. A two-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-cobram-418414534">2/91 High Street Cobram Vic 3644</a> is available for $210 per week. Last traded price $110,000 in 1992, according to CoreLogic RP Data.
<img src="/images/2016/05/17/main-1.jpg" alt="">
2. A two-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-cobram-418414454">5/69 Campbell Road Cobram</a> is available for a rent of $240 per week.
 
<div> </div>
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Victoria's Cobram tops rental yields for units: CoreLogic RP Data

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The top sale for the week ending 15 May is a five bedroom three bathroom home in the Victorian suburb of North Albert that sold for $7,850,000 according to CoreLogic RP Data.
The property, 24 24 St Vincent Place, North Albert (above) sold through Marshall White Albert Park.
 
TOP TEN SALES
24 St Vincent Place, North Albert, Vic, 5 bed, 3 bath, 2 car house $7,850,000 Marshall White Albert Park 
23 Marine Parade, Watsons Bay, NSW 4 bed, 3 bath, 2 car house $7,450,000 BradfieldCleary Double Bay 
36 Viret Street, Hunters Hill, NSW 3 bed, 2 bath, 2 car house $7,025,000 McGrath Estate Agents 
72 Raglan Street, Mosman, NSW 5 bed, 5 bath, 1 car house $4,700,000 McGrath Estate Agents 
312 Glenferrie Road, Malvern, Vic 4 bed, 3 bath, 2 car house $4,700,000 Marshall White Armadale 
59/155 Macquarie Street, Sydney, NSW 3 bed, 2 bath, 4 car unit $4,250,000 McGrath Estate Agents 
30 Shackel Avenue, Clovelly, NSW 5 bed, 2 bath, 2 car house $4,200,000 Ballard Property Group Double Bay 
7 Violet Street, Bronte, NSW 5 bed, 3 bath, 2 car house $3,975,000 Phillips Pantzer Donnelley Woollahra 
12 David Place, Seaforth, NSW 3 bed, 3 bath, 2 car house $3,750,000 Belle Property Seaforth 
46 Bulls Road, Burraneer, NSW 7 bed, 4 bath, 6 car house $3,600,000 Apac Group Property Agents 
 
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Five bedroom North Albert trophy leads CoreLogic top ten sales

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A 195-hectare Surf Coast development, The Sands Torquay Resort, is set to hit the market in Victoria's coastal township of Torquay with price expectations of $25 million.
The master-planned subdivision at 2 Sands Boulevarde comprises a hotel Peppers The Sands, an 18-hole championship golf course, clubhouse and health club facilities integrated with a residential subdivision surrounding the course and an additional 4000 sqm of vacant land opposite the clubhouse with potential for further development.
Colliers International’s Guy Wells, Stephen Burt and Raymond Tran have been appointed to sell the property on behalf of the Handbury Group. 
“This major landholding within the fast-growing township of Torquay represents a one-off investment and development opportunity in one of Victoria’s most popular destinations,” Wells said.
“Torquay is well known as the home of surfing in Victoria and is a hub of major surfing activity at the northern end of the Great Ocean Road. The township of Torquay has grown significantly in the past 10 years and developments such as The Sands Torquay Resort have added to the popularity of the location."
The golf course was designed by Stuart Appleby and the resort has a pro shop, members locker rooms and clubhouse facilities. There is also a separately operated health club with an indoor pool.
 <img src="/images/2016/05/16/Peppers-The-Sands-Conference7.t48527.jpg" alt="" width="608" height="405">
Adjacent to the clubhouse is the Peppers The Sands hotel comprising 112 rooms and suites over three levels, conference facilities, restaurant and bar facilities and tennis courts.
<img src="/images/2016/05/16/Peppers-The-Sands-Deluxe-Room-Lounge.t35201.jpg" alt="" width="611" height="407"> 
<img src="/images/2016/05/16/Peppers-The-Sands-Premier-Suite-View.t45649.jpg" alt="" width="605" height="403">
<img src="/images/2016/05/16/Peppers-The-Sands-Room4.t35226.jpg" alt="" width="605" height="403">
<img src="/images/2016/05/16/Peppers-The-Sands-Conference.jpg" alt="" width="611" height="407">
“This distinctive hotel, designed by award-winning Melbourne architects Perrott Lyon Mathieson, is unique to the area and draws visitors from the surrounding region and beyond from Melbourne,” he said. “The hotel operates under a marketing agreement with Mantra Group and under the Peppers Brand. This agreement could be transferred to a new owner as desired.”
The Sands Torquay Resort is part of a residential development known as The Sands which includes about 400 residential homes and 150 townhouses around the picturesque golf course. 
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Surf Coast's The Sands Torquay resort to hit the market, $25 million expected

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<h3>In most cases, the flat, unit or apartment you are considering will be strata title:</h3>
<ul>
<li>Strata title is individual ownership of a unit or apartment within a multi-unit complex. At settlement, you will receive a certificate of title for the unit you bought and become a joint owner of the common property (common areas shared by all the unit owners).  </li>
<li>The unit owners are members of the owners corporation (formerly body corporate), which owns and manages the common property. An owners corporation is automatically created when a plan of subdivision containing common property is registered at Land Victoria.</li>
</ul>
<h3>If you buy the property, you will have the right to vote on decisions about the operation of the owners corporation and, among other responsibilities, must: </h3>
<ul>
<li>pay annual owners corporation fees, levies and charges </li>
<li>obey owners corporation rules. Rules may include things such as renovations to the property, pet ownership and noise levels. </li>
</ul>
<h3>You can research the owners corporation by reviewing: </h3>
<ul>
<li>the owners corporation certificate attached to the Section 32 statement (also known as a vendor's statement). This has details of current fees, insurance cover and maintenance works carried out. It also details any proposed works, fee increases and any potential or existing legal claims affecting the property  </li>
<li>the owners corporation manager’s details on the <a href="https://www.consumer.vic.gov.au/businesses/registered-businesses/owners-corporation-managers/public-register" target="_blank">public register of owners corporation managers </a>
</li>
<li>any contracts, agreements, leases or licenses affecting the common property  </li>
<li>the minutes of the owners corporation’s annual general meetings  </li>
<li>the contract of sale. </li>
</ul>
<h3>Finances: </h3>
<ul>
<li>What are annual owners corporation fees, levies and charges? Are you able to manage any increases in annual fees and special levies?  </li>
<li>Are there any fees or other monies owing to the owners corporation?  </li>
<li>Is there a bank account in the name of the owners corporation or a trust fund held by the manager?  </li>
<li>Can you see the owners corporation’s register or most recent financial statements, and the budget?  </li>
<li>Does the owners corporation have a credit balance or is it in debt?  </li>
<li>Has the owners corporation borrowed any money? Does it have other financial liabilities? If so, how much?  </li>
<li>Does the owners corporation have a maintenance fund? How much are you required to contribute? </li>
</ul>
<h3>Plan of subdivision: </h3>
<ul>
<li>Will you be a member of more than one owners corporation? </li>
<li>What would your lot entitlements (voting rights) and lot liabilities (your contribution to the owners corporation/s) be as part of the whole development?  </li>
<li>Check the measurements of the apartment and the car space. Are they the same as shown in the plan of subdivision, brochure and the contract of sale?  </li>
<li>Is the car parking space a lot and part of your title? If so, ensure that the car parking space is transferred with the title.  </li>
<li>Is the car parking space common property? If so, ensure you have a lease or a licence. </li>
</ul>
<h3>Maintenance and repairs: </h3>
<ul>
<li>Are there any proposed maintenance, renovations or other building works? Has the owners corporation already raised the funds to cover the cost of the building works? Will there be a special levy? </li>
<li>Is there a maintenance plan? If so, ask to see it. If there is a plan, there must be a maintenance fund.  </li>
<li>Are there any guarantees and warranties on building works and finishes? Are the documents referred to in the contract of sale? </li>
<li>Are the building works and finishes completed? Are there any defect claims?  </li>
<li>Is there sufficient reinstatement and replacement insurance cover for the building? </li>
<li>Are there any obvious structural issues, damage or repairs needed to the building? Consider organising an independent building inspection. </li>
</ul>
<h3>Management issues: </h3>
<ul>
<li>Does the owners corporation have a registered manager? Check their registration on the public register of owners corporation managers</li>
<li>Is there a resident building manager or caretaker manager?  </li>
<li>When was the last annual general meeting? Ask to see its minutes. How many complaints were reported to the owners corporation?  </li>
<li>Is there a committee? Can you contact the chairperson?  </li>
<li>Does the owners corporation have rules? Are the rules registered at Land Victoria? </li>
<li>What is the grievance procedure?  </li>
<li>Are any legal proceedings affecting the owners corporation? If so, ask for details or copies of the application or complaint. You should get legal advice before signing the contract.  </li>
<li>Check for any record of a Victorian Civil and Administrative Tribunal decision affecting the owners corporation or the address or the building. The tribunal’s decisions are available for download from the <a href="https://www.austlii.edu.au/" target="_blank">Australasian Legal Information Institute website</a>. </li>
</ul>
<h3>When looking at an apartment or unit, consider:</h3>
<ul>
<li>Can you hear people walking and talking in other apartments?</li>
<li>Can you smell cooking? </li>
<li>Are you near the garbage bins or waste collection areas? Are there any odours? </li>
</ul>
 
For more information <a href="https://www.consumer.vic.gov.au/housing-and-accommodation/buying-and-selling-property/checklists/buying-an-apartment-or-unit" target="_blank">visit the Victoria government website here</a>
 
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jchancellor-FAypfDUnLy

Buying an apartment in Victoria

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Mildura in Victoria was at the start of the recovery period in Herron Todd White's latest property clock, a simple broad brush means to indicate where property prices are, and where they are going.
<a href="/images/2016/05/12/Screen%20Shot%202016-05-06%20at%202.03.00%20PM.png" target="_blank">Click to enlarge</a>
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While many of the dwellings constructed in Mildura’s early days were of a fairly basic standard, many have survived and continue to receive good buyer demand. These older dwellings are located within easy walking distance of Mildura’s town centre, dining and nightlife precinct and therefore appeal to both young professionals and older downsizers.
The better standard homes in Mildura are traditionally located west of Deakin Avenue, with the older character homes always well sought after.
Demand remains strong, particularly for properties with good street appeal. Values in these areas vary depending on the size of the land and residence and standard of external features, however, they typically range between $300,000 and $500,000, with some unrenovated dwellings fetching lower prices.
In the past few years there has been improving demand for homes in some inner areas on the eastern side of Deakin Avenue, in those locations within one kilometre of the town centre.
Homes in these areas are typically smaller and more affordable. Recent sales in these areas have generally been in the range of $180,000 to $280,000, with the cheaper end of this range being for dwellings that require renovation.
<img src="/images/2016/05/12/image4.jpg" alt="" style="font-size: 12.16px; line-height: 1.3em;">
To illustrate this affordability, Property Observer came across a two-bedroom bungalow at <a href="https://www.realestate.com.au/property-house-vic-mildura-121817926" target="_blank">109 Olive Avenue, Mildura</a> (above) for $287,500 on realestate.com.au
There has been a gradual trend for the more basic dwellings in these areas to be either demolished or renovated, which has contributed to an improved profile.
HTW expects these areas to continue to receive good demand from budget-conscious buyers who seek the convenience of living close to the town centre and are prepared to undertake some renovation work. 
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Victoria's Mildura is for the budget-conscious buyer: HTW

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Sunshine cracked the $1 million club after a period-style family home sold under the hammer for a record-breaking $1.03 million.
It was the<a href="https://www.realestate.com.au/property-house-vic-sunshine-122361326" target="_blank"> four-bedroom house at 1 Walter St</a>, located on 810 sqm in the coveted Matthews Hill precinct that bettered the $935,000 record set in February this year.
CoreLogic RP Data put the house median at $552,500.
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Sunshine property surpasses $1 million for first time

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You must keep full and accurate accounting records that:
<ul>
<li>show the true position of all trust money received </li>
<li>enable your trust accounts to be properly audited. </li>
</ul>
Your accounting records must show:
<ul>
<li>who is entitled to the trust money </li>
<li>details of each trust money transaction </li>
<li>dates on which, or the period during which, each transaction took place. </li>
</ul>
Whenever a trust money transaction occurs, you must update your accounting records by the end of the next business day. 
The Estate Agents (General, Accounts and Audit) Regulations 2008 set out the required:
<ul>
<li>accounting documents </li>
<li>procedures </li>
<li>details to be kept.</li>
</ul>
If you are seeking technical or accounting information, or information not available on our website, ask your accountant or auditor for advice in the first instance.
Cash receipts journal
You must keep a trust account cash receipts journal, recording all money received daily.
This must include the:
<ul>
<li>number of the receipt </li>
<li>date the receipt was made out and, if different, the date on which the trust money was received </li>
<li>amount of money received</li>
<li>form in which the money was received; for example, cash, cheque or EFT </li>
<li>name of the person from whom the money was received </li>
<li>name and reference number or other identification of the person on whose behalf the money was received </li>
<li>details clearly stating why the money was received </li>
<li>details identifying the ledger account to be credited.</li>
</ul>
Cash payments journal
You must update a cash payments journal with all daily withdrawals from the account.
For payments made by cheque, this must include the:
<ul>
<li>date, serial number and amount of the cheque </li>
<li>name of the person the payment was made to; or, for a cheque made payable to an authorised financial institution, the institution’s name or BSB and the name of the person receiving the benefit of the payment </li>
<li>name and reference number or other identification of the person on whose behalf the cheque was drawn </li>
<li>details of the account in the trust ledger to which the cheque is to be debited </li>
<li>details of the purpose for which the cheque was drawn.</li>
</ul>
For payments made by EFT, this must include the:
<ul>
<li>date, reference number and amount of the transfer </li>
<li>name of the person to whom the payment was made; or, for a payment to an authorised financial institution, the institution’s name or BSB and the name of the person receiving the benefit of the payment </li>
<li>name and number of the account, including the BSB number, to which the amount was transferred </li>
<li>name and reference number or other identification of the person on whose behalf the transfer was made </li>
<li>details of the account in the trust ledger to which the payment is to be debited </li>
<li>details of the purpose for which the payment was made.</li>
</ul>
Payments must be recorded in the order in which they were made.
Transfers
You must not transfer money between accounts in the trust ledger unless you are entitled to transfer the money for that purpose. 
For example, you may transfer money from a landlord’s ledger to a commission ledger if the landlord has signed a property management authority that entitles you to claim commission.
You must record transfers in a journal kept exclusively for that purpose.
Entries in a transfer journal must include:
<ul>
<li>the date of the transfer </li>
<li>the amount transferred to and from each ledger account </li>
<li>the names of all ledger accounts to be debited or credited, including identifying references </li>
<li>details that clearly identify the purpose for which the money was transferred.</li>
</ul>
Trust ledger accounts
You must keep a ledger consisting of a separate identifiable account for each:
<ul>
<li>person on whose behalf you hold trust money </li>
<li>transaction for which you hold trust money.</li>
</ul>
The title of each ledger account must include the:
<ul>
<li>name and address of your client</li>
<li>purpose for which the money was received.</li>
</ul>
You must record the following details in the trust ledger account when you receive trust money, cheque payments, electronic funds transfer (EFT) payments or transfer of funds via journal entry:
<ul>
<li>date of issuing receipt, receiving money, making payment, or funds transfer </li>
<li>receipt, cheque, EFT payment or journal number </li>
<li>name of the person the money was received or paid from, or ledger account the money was transferred to</li>
<li>purpose for which the money was received, paid or transferred </li>
<li>amount received, paid or transferred.</li>
</ul>
You must record transactions relating to trust money in the trust ledger account in the order in which they occur.
You must also ensure that a trust ledger account has a continuous running balance, showing the amount held.
Monthly reconciliations
You must balance your trust accounts and prepare statements each month. The balances you must reconcile are:
<ul>
<li>cash journals </li>
<li>ledger accounts </li>
<li>accounts at your authorised financial institution.</li>
</ul>
The principal agent or officer in effective control must verify the reconciliation statements as true and accurate within 14 days of the end of each month. 
Storage and back-up of records
You must keep trust records for at least seven years.
You must back up electronic records at least once a month. The principal agent or officer in effective control must keep back-up copies and a complete set of copies must be stored at a separate location.
Computerised accounting systems
If you use a computerised accounting system, it must:
<ul>
<li>keep a record of any information created, amended or deleted that relates to the:</li>
<ul>
<li>seller’s or landlord’s name and address, reference number or other identification </li>
<li>description of each transaction </li>
<li>ledger account reference number or other identification for each trust ledger account</li>
</ul>
</ul>
The record must show the details before and after this information was created, amended or deleted
<ul>
<li>not accept entries of transactions that result in a debit balance in a trust account, unless there is a chronological record of the details of the change that can be produced on request </li>
<li>not be able to delete a trust ledger account unless the balance is zero and all outstanding cheques have been presented. When the account is deleted, the system must retain a permanent copy </li>
<li>not be able to amend the details of a transaction already recorded, except by recording a separate transaction that makes the amendment </li>
<li>require input in every field of a transaction data entry screen that receives information required by the Act and the Regulations </li>
<li>be backed up at least once a month. Each back-up copy must be retained by the agent in charge of the business or the officer in effective control, and a complete set of the back-up copies must be kept in a separate location.</li>
</ul>
Using an estate agent trust accounting software package can make it easier to comply with many of these requirements. 
General accounting software packages may also be of some assistance; whichever system you use, it is your responsibility to ensure you comply with the Act and Regulations.
Register of securities 
If you hold securities, documents of title or receipts for trust money on behalf of another person, you must keep a register of these. 
The register must show:
<ul>
<li>the date the security, document of title or receipt was received </li>
<li>a description of the security, document of title or receipt </li>
<li>the value or amount of the security or money deposited </li>
<li>the name of the person the security, document of title or receipt is held for</li>
<li>the date you delivered the security, document of title, or receipt to another person, and the name of the person you gave it to</li>
<li>the reason the security, document of title or receipt is being held </li>
<li>if the security, document of title or receipt is held jointly with another estate agent, the name under which they operate an estate agency business.</li>
</ul>
Deficiencies in a trust account
You must notify us, the agency director and your auditor within three business days of becoming aware of a deficiency in a trust account or trust ledger account.
This notification must include: 
<ul>
<li>the date on which the deficiency occurred </li>
<li>the amount </li>
<li>the reason it occurred </li>
<li>any action taken to restore it. </li>
</ul>
You do not need to notify us if the deficiency was: 
<ul>
<li>accidental, or caused solely by an error by an authorised financial institution, and</li>
<li>rectified within two business days after you became aware of it.</li>
</ul>
Unclaimed money
If you cannot identify the person entitled to trust money, those funds may be considered unclaimed money under the Unclaimed Money Act 2008.
For information on what to do with unclaimed money, visit the <a href="https://www.sro.vic.gov.au/" target="_blank">Victorian State Revenue Office website here</a>.
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Property 101: Accounting for trust money - rules for estate agents in Victoria

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Victorian stamp duty revenue is expected to drop by 6.4 per cent in 2016-17 after significant growth in revenue over the past few years, according to the Victorian Budget papers.
Land transfer duty will fall to $5.7 billion in the coming financial year after revenue growth of 23 per cent in 2015-16.
But Victoria’s land tax revenue is forecast to grow by 28 per cent to $2.2 billion in 2016-17, but average 2.5 per cent a year over the forward estimates.
“The boom in Victoria’s property market over the past few years has been driven by a strengthening labour market, historically low interest rates, increased investor demand and strong population growth,” the Victorian Budget paper states.
The government confirmed it will more than double the stamp duty surcharge on foreign residential property buyers, from 3 to 7 per cent on the purchase price.
The surcharge will apply to contracts inked from July 2016, and is expected to generate $53 million in revenue over 2016-17 and $321 million over the forward estimates.
The absentee landowner surcharge will also triple from 0.5 to 1.5 percent from next year. This initiative is expected to generate $28 million over 2016-17, and $84 million over the forward estimates.
The State Revenue Office will receive additional funding to establish and expand compliance programs involving the land tax principal place of residence exemption, foreigner purchaser additional duty, and absentee owner surcharge.
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