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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Local government areas (LGAs) are struggling to accommodate the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-22/victoria-public-social-housing-build-local-council-rules/12907336">growing demand for housing in Victoria</a> – a problem which the Victorian Government are planning to address with an investment boost of $5.4 billion.

The Government's plan is to replace obsolete properties and construct 12,000 new homes, providing more social and affordable housing. This funding will, in turn, provide 10,000 jobs each year over four years. 

<h2>Current projects underway</h2>

Bills Street, Hawthorn - The site is prepped and ready for new developments to commence construction once the planning application is approved.

Dunlop Avenue, Ascot Vale - Planning permit has been issued earlier this year.

Elizabeth Street, North Richmond - The new buildings to be established in the vicinity of 147 - 161 Elizabeth Street in Richmond will deliver well designed, safe, secure and modern social and affordable housing. 

Markham Avenue, Ashburton - The site is prepped and ready for development to begin. The new homes will be located next to existing parklands.

Tarakan Street, West Heidelberg - Redevelopment for improved open space is planned for this site.

Victoria Street, Flemington - A new residential development will offer affordable homes due to demand.

<h2>21 LGAs the Government is requesting submissions for:</h2>

<ol>
<li>
	Bendigo
	</li>
	<li>
	Macedon
	</li>
	<li>
	Ballarat
	</li>
	<li>
	Moorabool
	</li>
	<li>
	Melton
	</li>
	<li>
	Wyndham
	</li>
	<li>
	Geelong
	</li>
	<li>
	Shepparton
	</li>
	<li>
	Mitchell
	</li>
	<li>
	Whittlesea
	</li>
	<li>
	Maroondah
	</li>
	<li>
	Casey
	</li>
	<li>
	Cardinia
	</li>
	<li>
	Hume
	</li>
	<li>
	Brimbank
	</li>
	<li>
	Maribyrnong
	</li>
	<li>
	Port Phillip
	</li>
	<li>
	Moreland
	</li>
	<li>
	Darebin
	</li>
	<li>
	Whitehorse
	</li>
	<li>
	Boroondara
	</li>
</ol>
The new initiative will complement the $500 million building works programme, which aims to give the construction industry extra employment security post-COVID-19.
</body></html>

Olivia Round

Fast-start project: Victoria's $5.4 billion Big Housing Build

j.ballantyne1990-6AQqhLzZaK

Victorian homes are being snapped up in record time: REIV

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EXPERT OBSERVER
Victoria’s virus flare up and subsequent lockdown has hit the south-eastern state’s economy hard. The implementation of level 4 restrictions in Melbourne and level 3 constraints in regional Victoria – including curfews – led to the shutdown of 90 per cent of Victoria’s shopping centres and retail stores in August, according to Kepler Analytics. So it’s no surprise that retail spending in Victoria fell by whopping 12.6 per cent in the month. According to Commonwealth Bank card spending data, Victorian credit and debit card spending plunged by 14.8 per cent in the week to August 14 from a year ago after being down just 0.8 per cent in the prior week.
The damage to Victorian businesses and workers from the two COVID-19 lockdowns is evident in the latest Statistical Area 4 (SA4) weekly payroll jobs data. Since March 14 (the week Australia recorded its 100th confirmed COVID-19 case) payroll jobs have decreased most in Melbourne’s Inner (-9.8 per cent), North-Western (-9.3 per cent) and Western (-8.7 per cent) suburbs. And regional Victoria hasn’t been spared with payrolls down 8.8 per cent in North-Western Victoria and the Mornington Peninsula (-8.5 per cent). Job losses also exceed 7 per cent across Geelong, Ballarat, Bendigo and Latrobe-Gippsland.
Victoria’s labour market scarring is likely to persist in the near term with skilled job vacancies falling 7.5 per cent in August – the only state or territory to post a decline in ads during the month. In Greater Melbourne job vacancies are down 44.6 per cent over the year to August.
Australia’s manufacturers have weathered the coronavirus shock better than most sectors of the economy. Despite manufacturing’s share of Aussie economic output declining from peaks of just under 30 per cent of GDP in the early 1960s to 5.6 per cent of GDP in 2019, its importance has been underlined by global supply disruptions (freight delays and import restrictions) during the pandemic.
Australia is making more hi-tech manufactured goods than ever before, including the manufacture of food, wine, beverages, vitamins, baby formula, building materials, mining machinery and medical equipment. In fact, the latest survey of purchasing managers shows that manufacturing activity rose to the highest level in 29 months in September, supported by a pick-up in production, sales, export orders and building capacity pressures.
Importantly, IHS Markit report that manufacturers employed more factory workers for the first time since November 2019. This is good news given that manufacturing is Australia’s sixth largest employer, employing around 852,800 (or 7 per cent of the total workforce).
What do the figures show?
‘Preliminary’ retail trade – August
‘Preliminary’ retail trade fell by 4.2 per cent in August after rising by 3.2 per cent in July. Retail spending is still up 6.9 per cent on the year and 6 per cent above pre-COVID-19 levels in February. The final August data is scheduled for October 2.
According to the ABS, “Victoria led the falls, down 12.6 per cent compared to July 2020. Stage-4 restrictions in Melbourne, and Stage-3 restrictions in Regional Victoria, restricted trading for non-essential retail businesses.
“Excluding Victoria, the rest of Australia fell 1.5 per cent from July 2020 to August 2020.
All industries fell, primarily driven by the Victorian result, although there were falls in most states and territories.
At the industry level, Household goods retailing led the falls, although sales in this industry remain 20 per cent above the levels of August 2019.
Clothing, footwear and personal accessory retailing, Department stores, and Cafes, restaurants and takeaway food services, also saw large monthly falls, with the largest falls recorded in Victoria. New South Wales saw a large fall in Cafes, restaurants and takeaway food services.
Food retailing saw a small fall, with mixed results amongst the states and territories.”
Regional payrolls – Week ending September 5
The Australian Bureau of Statistics (ABS) has released the regional (SA4) payroll indexes.
Between March 14 (date of 100th case of COVID-19) and September 5, payrolls fell most in Melbourne - Inner (-9.8 per cent). Thirteen of the 15 regions with the biggest declines in payrolls can be found in Victoria. Sydney’s City and Inner South also feature with payrolls down 8.3 per cent for the period.
Of the 15 regions with the smallest declines in payrolls over the period, seven can be found in Western Australia. Perth’s South-West recorded just a 1 per cent fall in payrolls from March 14 to September 5. But the New England and North-West region of NSW performed best with payrolls down just 0.9 per cent over the period.
Skilled job vacancies – August
In seasonally adjusted terms, the Internet Vacancy Index (IVI) increased by 1.3 per cent (or 1,700 job advertisements) in August to stand at 133,400. Despite this increase, job advertisements are 19.5 per cent (or 32,400 advertisements) below the level recorded a year ago.
In August, job advertisements increased in three of the eight occupational groups. The strongest gains were recorded for Professionals (up 2,300 or 5.8 per cent), followed by Clerical and Administrative Workers (up 350 or 1.9 per cent); and Managers (up 120 or 0.9 per cent). But ads fell most for Labourers (down 420 or 4.1 per cent).
Over the year to August, job vacancies for Machinery Operators and Drivers (up 480 or 6.5 per cent) and Labourers (up 180 or 1.9 per cent) lifted most and now exceed pre COVID-19 levels. But vacancies fell for the other six occupational groups, led by declines for Managers (down 7,300 or 34.4 per cent) and Clerical and Administrative Workers (down 8,700 or 31.4 per cent).
All states and both territories recorded an increase in job advertisements in August, except Victoria. NSW (up 2.4 per cent); Victoria (down 7.5 per cent); Queensland (up 0.4 per cent); South Australia (up 7.4 per cent); Western Australia (up 8.7 per cent); Tasmania (up 8.1 per cent); Northern Territory (up 6.8 per cent); ACT (up 8.3 per cent).
Over the year to August, job ads increased in Western Australia (up 1,700 or 10.6 per cent), South Australia (up 760 or 10.2 per cent) and Tasmania (up 30 or 1.9 per cent). All remaining states and both territories recorded falls in job advertisements over the year with the biggest falls in Victoria (down 21,200 or 45.7 per cent) and NSW (down 11,500 or 20 per cent).
Over the year to August, in three-month moving average terms, job ads increased in 20 of the 37 IVI regions. Dubbo &amp; Western NSW posted the strongest increase in vacancies (up 50.7 per cent), followed by Southern Highlands &amp; Snowy NSW (up 34.6 per cent), South-West Western Australia (up 32.5 per cent), Yorke Peninsula &amp; Clare Valley South Australia (up 26 per cent) and Fleurieu Peninsula &amp; Murray Mallee South Australia (up 24.2 per cent). But Melbourne recorded the biggest decline (down 44.6 per cent), followed by Sydney (down 38.4 per cent), Geelong &amp; Surf Coast Victoria (down 32.0 per cent), Ballarat &amp; Central Highlands Victoria (down 23.4 per cent) and Brisbane (down 20.7 per cent).
‘Flash’ IHS Markit Purchasing Managers’ Indexes (PMI) - September
The IHS Markit ‘flash’ PMI for manufacturing rose from 53.6 in August to a 29-month high of 55.5 in September. The services PMI lifted from 49 in August to 50 in September. The composite PMI rose from 49.4 in August to 50.5 in September. A reading above 50 indicates an expansion in activity.
According to IHS Markit economists, “The latest PMI data showed signs of stabilisation in Australia's private sector business conditions during September, with activity and sales increasing marginally after falling in August amid tightening containment measures to contain a surge in new infection cases. However, other survey indicators suggest that the rebound may lack legs going forward. The absence of capacity pressure led to a further and sharper decline in workforce numbers, highlighting the prospect of rising unemployment.
The survey also showed a divergence in the sectors participating in the economic recovery. Services business activity remained subdued, coinciding with weak sales as the sector was more adversely hit by COVID-19 restrictions. Meanwhile, manufacturing output continued to increase, supported by renewed growth in export sales.
Government spending on public works and expectations of an eventual easing of containment measures, including crossborder restrictions, boosted business sentiment, which rose to the highest for just over two years."
What are the implications for investors?
Yet another central bank has provided an update on its policy ‘tool kit’ – this time the Reserve Bank of New Zealand. Kiwi monetary policy makers have made it abundantly clear that they will implement negative interest rates if more stimulus is required to prop up the economy after Auckland’s virus setback.
As excitable Aussie investors reacted to Reserve Bank of Australia Deputy Governor Guy Debelle’s ‘monetary policy approaches’ speech yesterday by aggressively pricing in a rate cut to 0.1 per cent on October 6, Reserve Bank of New Zealand Governor Adrian Orr calmly reiterated that the Bank intends to hold the official cash rate at 0.25 per cent until March 2021 - as communicated on March 16. Governor Orr also suggested that instruments including a Funding for Lending Programme (FLP) and purchases of foreign assets are additional policy options, along with a negative official cash rate.
The divergence between Victoria and the rest of Australia continues. The re-opening of the NSW-South Australian border is encouraging with border closures - and associated restrictions - inhibiting the economic recovery. What is also positive is that recruitment activity in South Australia and Western Australia is now above pre-COVID-19 levels with Tasmania just 1 per cent below these levels in August. Regional areas outside of Victoria are performing better than their city peers with lower unemployment, more job vacancies and more stable housing markets.
The next few weeks are critical to the economic outlook. The Reserve Bank’s monetary policy meeting and Federal Government’s Budget are both delivered on October 6. Expectations for a co-ordinated policy response to Victoria’s health and economic crisis are growing. It appears that the Morrison Government will announce more infrastructure spending and bring forward personal income tax cuts at a time when the JobKeeper wage subsidy and JobKeeper government payments are reduced. But as yesterday’s weekly payrolls jobs data shows, a continued targeted approach in supporting small and medium sized enterprises (SMEs) is equally, if not more important. The acceleration of payroll losses (-1.9 per cent) for businesses with 20 or fewer employees between August 22 and September 5 will trouble policymakers.
Ryan Felsman is a Senior Economist at CommSec
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Victoria has dominated job losses as retail trade tumbles: CommSec's Ryan Felsman

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A petition has been launched by citizens in Victoria to resume the real estate industry under Stage 4 lockdown.
"The requirement to find a home is unquestionably essential", the petition advisees.
"Agents and consumers would like to see the resumption of one-on-one private appointments which would be conducted safely according to COVID safe guidelines.
<div class="row-fluid fabrikElementContainer">
<div class=" plg-textarea fb_el_pov_ep_council_petition___grievance_ro span12">
<div class="fabrikElement">
<div id="pov_ep_council_petition___grievance_ro" class="fabrikElementReadOnly">"We are asking the Andrews Government, along with the Real Estate Institute of Victoria, to re-open the real estate industry with the implementation of a COVID-19 Safe Plan.</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">"These practices may include a record of attendees at one-on-one appointments, open house permits, limited attendance of open house, temperature checks upon arrival, no-touch inspection, social distancing and sanitising of door handles and surfaces. Contact tracing data would be lodged with the Department of Health and Human Services."</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">The petition says that waiting until October 26 to reopen the industry will "cripple people financially", adding that waiting until November 23 for 'COVID normal' will leave people under "significant financial pressure".</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">"Those who have purchased and need to sell and those who’ve been evicted due to landlords returning to occupy and cannot inspect a new rental home have been burdened by the COVID-19 restrictions.</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">"Over the last 6 months, sacrifices have been made by everyone over a truly testing period. We must look forward and discuss our ability to offer a safe and considered service for those who require it. 
</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">The petition, which can <a href="https://www.propertyobserver.com.au/https://www.parliament.vic.gov.au/council/petitions/electronic-petitions/view-e-petitions/details/12/243" target="_blank">be found here</a>, will close October 10.</div>
</div>
</div>
</div>
<div class="row-fluid fabrikElementContainer"> </div>
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jrobinson-rf4aSBido9

Petition launched to open real estate up in Victoria

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Victorian land buyers continue to lock in purchases despite the State’s strict lockdowns, with developer and government incentives encouraging many to push ahead despite being unable to visit most estate.
The State’s leading project marketing group Oliver Hume has achieved an average of 70 reservations per week over the last six weeks as a result of new innovative processes for selling land as well as a sales and marketing team that have lead the way in educating buyers virtually.
Oliver Hume has also launched a new $25,000 initiative which matches the Federal Government’s $25,000 Home Builder grant. The $25,000 Perfect Match campaign is available at selected projects marketed by Oliver Hume. Buyers can also utilise Oliver Hume’s new online deposit system which has experienced strong demand during lockdowns.
Oliver Hume Chief Executive Officer Julian Coppini said the new bonus had been in high demand since it was launched in late August.
“While buyer demand has been impacted by the lockdown we are still seeing strong levels of enquiry and sustained sales which has our current sales rate still higher than March, April and May before the HomeBuilder grant was announced,” he said.
“Many buyers have understood the new processes due to being in a lockdown and are happy to rely much more on digital presentations, inspections and communication as part of their purchase decision.”
“Buyers understand the extraordinary nature of the current market and appreciate the opportunity to utilise the support measures and grants from the state and federal governments in conjunction to developers providing attractive offers in market”
“The incentives and grants combined with low interest rates have generated some of the best buying conditions in a generation.”
Mr Coppini said the industry was quickly adapting to managing sales through the lockdowns with buyers becoming more confident navigating the purchase decision in a fully digital environment.
“Oliver Hume is thankful for the ongoing digital transformation it started on years ago as it has been a major benefit to our vendors and purchasers over the last six months. Many of the systems and processes we have put in place will become permanent features in the land buying process,” he said.
Earlier this year, Oliver Hume launched a new digital deposit platform that allows buyers to secure and pay a deposit on their new block of land, without ever visiting a sales office or meeting in-person with a developer representative.
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Victorian land sales are holding up as grants kick in: Oliver Hume

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The largest real estate group in Victoria holds great concern for many of its customers following the announcement by the Victorian Government that private inspections of properties will not be allowed until 26 October, 2020.
As managing director of the Ray White Group, I am asking the Victorian Government to reconsider its ban on private inspections.
Private inspections alone will enable the industry to safely serve its customers and ensure that the most important financial transactions of their lives can be undertaken without further delays.
It has been a devastating day. Many of our customers often need to move properties for fundamental reasons - be it illness, divorce or other hardships like unemployment. It’s been distressing to listen to the feedback from customers now facing significant financial consequences as a result of these restrictions.
It makes absolutely no sense to forbid private inspections when you compare the safe environment we can create compared to the activities that are being allowed.
Despite many customers needing to buy and sell, yesterday’s decision means that many customers will be racing the clock to achieve a settlement before Christmas, given the time required to market property and the usual settlement period. It also applies significant pressure to those searching for a rental property or trying to lease their property.
Our leading group has been inundated with calls from customers who are distraught at the prospect of further significant delays in the marketing and sales of their properties.
Distraught customers include 70-year-old Brenda Hemphill, of Ringwood, who has bone marrow cancer and just needs to find a rental property to move into on September 25.
"I have to be out of the house by September 25 as my husband’s business went bankrupt and forced the sale,” said Mrs Hemphill, who recently sold her unit at auction through Ray White Ringwood.
“I have bone marrow cancer and need to stay close to the hospital for treatments. We have had to sell our forever home and there’s no chance of delaying the settlement as my husband went bankrupt but the house was in both names,” Mrs Hemphill said.
“I cannot go and view any rental properties. I am imploring Dan Andrew to make life a bit easier for us as not everything is around the corner to get the things we need.”
Another distressed client named Judy, who has her home on the market with Ray White Chelsea, simply wants to move to Queensland to help support her daughter.
“My son-in-law is a pilot and due to COVID-19, he has been relocated to Sydney to fly freight planes and my daughter is a working mum trying to juggle work around their two year old child. I’m a nurse and I’m incredibly disappointed that real estate activity hasn’t been reinstated because with the correct COVID procedures in place, the risk to the public is absolutely minimal when privately inspecting a property,” Judy said.
“I’m all alone down here and my daughter is all alone up there, and she’s had her own emergencies. All I want is to be in a financial position to sell soon and go to her when the borders finally reopens.”
Based on the people we have spoken to, there would be thousands of Victorians in distress as a result of the announcement.
The Big Four Australian banks have all spoken at length about the size and extent of mortgage deferrals. While they confirmed that loan deferrals will be extended on a case-by-case basis to March 2021, the message is clear: “the property market is holding up well, you may want to make the decision to sell and put yourself on a stronger footing”. Unfortunately for our Victorian customers with mortgage deferrals in place, they will be unable to do so.
In collaboration with the industry, Ray White has developed a detailed set of operating protocols for conducting private inspections to keep our customers safe.
These include a single buyer and agent inspecting for less than 15 minutes, without touching surfaces and observing social distancing.
We are not aware of any community transmission occurring in Australia as a result of real estate activity, and we estimate that nearly 180,000 properties were listed and marketed across Australia since April. That includes conducting open homes and auctions throughout Sydney throughout July and August and private inspections in the lead up to the Stage 4 Melbourne lockdown, when community outbreaks were occurring in both cities.
We note that physical on-site meetings will be permitted from 13 September in the construction industry and display homes will be open by appointment only from 28 September. We see no difference between these settings (particularly for many properties that are vacant) and believe the same settings can be achieved in the real estate industry.
We call on the government to review its decision and would welcome any opportunity to work collaboratively, for the good of the Victorian community.
Dan White is the Ray White Group Managing Director
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Victorian real estate customers stuck in limbo: Dan White

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The Real Estate Institute of Victoria (REIV) has called for an independent review of the roadmap announced by the Andrews government when it comes to real estate listings. 
It labelled the Victorian government’s response as disproportionate, alarmist and short sighted. 
"There is no dispute that health and safety of the community is a priority and the roadmap out of the lockdown must ensure safety of all Victorians," the REIV advised.
"However, the path proposed jeopardises livelihoods and assets of hard-working Victorians who have abided by the rules and restrictions for over six months.
"Pushing the Victorian economy to the brink of collapse cannot be the only method of preventing the spread of coronavirus."
The REIV has criticised the lack of genuine consultation by government with business.  
"The irreversible impact of these decisions on the mental and financial well-being of ordinary people is being ignored.
"People who have saved and invested in an asset like property are unable to sell it to tide over these difficult times. 
The REIV urged the Federal government to immediately initiate an independent review of the roadmap, every Victorian is being impacted by the lack of vision and planning shown by the Andrews government.
The REIV president Leah Calnan said the decisions compounded the financial stress on Victorians and the Victorian economy. 
“We have cases being reported every day where people need to sell their property to get through these financial challenging times, and they can’t do so because the government won’t allow even a one-on-one inspection.” 
 
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REIV calls for an independent review of Victoria’s real estate roadmap

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GUEST OBSERVATION
The Victorian government today announced the eagerly anticipated roadmap out of COVID-19 lockdown. It features several steps that reflect a much slower relaxing of restrictions than last time around.
While the government has provided a provisional time frame for the various steps, it is data, not dates, that will determine when restrictions are actually eased.
We applaud this strategy. The virus does not obey a timeline. Rather, we have to beat it down to a level at which easing of restrictions is safer.
What was announced?
Metropolitan Melbourne’s current stage 4 restrictions will be extended for two weeks, to September 27. But from 11:59pm on September 13, there will be a few key changes.
The nightly curfew will be shortened by one hour, and will be in place from 9pm to 5am. Also, two people or a single household can meet outdoors for two hours maximum, up from the previous one hour, for exercise or recreation.
For people living alone, and single parents with children under 18, there will be a “single person bubble” policy that allows them to designate one other person who can visit their home.
Regional Victoria is already faring better than Melbourne, and will have a faster timeline.
Premier Daniel Andrews wants to maximise the chance of getting to Christmas in something like stage 1, while minimising the chance of a third wave of infection that sends the state back into lockdown. This means staying in strict restrictions for longer, and easing out more gradually.
How did data influence the decision?
The Victorian government’s decision was based in part on the output of a model developed by researchers at the University of Melbourne and the University of New England. It simulates population movements in a simplified world, based on parameters that describe the spread of COVID-19 and people’s interactions with each other.
In the real world, these patterns are highly random. So the researchers ran the model 1,000 times, with thresholds for relaxing (or tightening) restrictions set at an average of 25, 10, and 5 cases per day on a fortnightly basis. The model could then report the probability, under a given set of policy settings, of having to lock Victoria down again before Christmas.
 
Opening up too soon is likely to cause a third wave. In simulations in which restrictions were eased once average daily cases dipped below 25 per day, there was a 62% likelihood of new lockdowns. But with restrictions retained until daily cases dropped below 5 daily cases, the lockdown likelihood was just 3%.
Viewed in that light, it is easy to see why the Andrews government opted to set strict criteria for lifting restrictions, knowing that short-term pain is better than the economic ravages of another lockdown in the long term.
What might hold Victoria back?
First, there’s the elephant in the room — the quality of Victorian contact tracing (especially in comparison to New South Wales). Living with the virus requires high-quality contact tracing. There’s no doubt contact tracing in Victoria has improved since June when our second wave started. There is therefore a real possibility that we may get the case numbers down faster, and hold off resurgences of case numbers more effectively or for longer than the modelling suggests.
Second, infection disease control in health care and aged care has not been up to scratch in Victoria (compared with, dare we say it again, New South Wales). These represent particularly dangerous settings. Older adults are much more likely to become severely ill with COVID-19, whereas health-care workers who become infected with the coronavirus risk infecting the most vulnerable and reduce health capacity when it is most needed.
And of course, health and aged care workers live in the community too, and if community restrictions are relaxed the virus will leak back out through family members and surge again. The Victorian government decided to deal with both community and health-care transmission simultaneously. We think that it is the right approach.
Is elimination still possible?
There were strong arguments for an explicit <a href="https://www.mja.com.au/journal/2020/probability-6-week-lockdown-victoria-commencing-9-july-2020-achieving-elimination">elimination strategy back in early July</a>, requiring “going hard” for a six-week lockdown. Unfortunately, Victoria didn’t go hard early enough. The government waited three weeks, numbers got out of control, and then we went into stage 4. With the benefit of hindsight, it was a huge missed opportunity.
The Grattan Institute is also <a href="https://grattan.edu.au/report/how-australia-can-get-to-zero-covid-19-cases/">arguing strongly</a> for an explicit elimination strategy and much longer hard lockdowns. It argues this will result in better economic outcomes in the long run. An <a href="https://www.medrxiv.org/content/10.1101/2020.08.31.20185587v1">impressive modelling paper</a> by Australian National University researchers also supports the theory that elimination is better for both health and the economy in the long run (although this paper has not yet been peer-reviewed).
However, things have changed in the past two months. First, we are now closer to a vaccine, so in theory the long-term payoff for short-term pain will arrive sooner. Second, New Zealand (and Queensland) have taught us that elimination can be lost. Third, NSW has taught us you can live with the virus at low levels (so far). Fourth, the imminent border openings and hotspot strategy are not really consistent with the hard border controls needed to defend elimination in places that achieve it.
Andrews aptly termed the state’s strategy “aggressive suppression”. It may even achieve elimination, as the first wave effort so nearly did. We hope it does – but do not bank on it.
It’s in our hands now, both the government and citizens. With some good luck – and few would begrudge Victorians a little of that – the roadmap will pan out as planned.<img src="https://counter.theconversation.com/content/145558/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/laxman-bablani-1153311">Laxman Bablani</a>, Research Fellow, Population Interventions Unit, Centre for Epidemiology and Biostatistics, Melbourne School of Population and Global Health, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</a> and <a href="https://theconversation.com/profiles/driss-ait-ouakrim-1153309">Driss Ait Ouakrim</a>, Research Fellow, Population Interventions Unit, Centre for Epidemiology and Biostatistics, Melbourne School of Population and Global Health, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/slow-and-steady-exit-from-lockdown-as-victorian-government-sets-sights-on-covid-normal-christmas-145558">original article</a>.
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Victorian government has set its sights on a 'COVID-normal' Christmas

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Just as COVID-19 hit, inspectors from Consumer Affairs Victoria indicated will be checking more estate agent trust accounts, more often, for discrepancies.  
Victorian estate agents held 5,188 trust accounts worth $2.43 billion at the end of 2019. 
Inspectors were conducting random desktop inspections of estate agents’ trust accounts, searching for inconsistencies that may point to misuse of trust money, in addition to their usual on-site inspections.  
These desktop checks will significantly increase the amount of trust account inspections undertaken each year.  
During 2018-19, Consumer Affairs Victoria conducted 425 trust account inspections for compliance with relevant laws and processed more than 4,300 trust account audits.  
Increasing the number of trust account inspections will allow Consumer Affairs Victoria to act faster to identify estate agents who have broken the law.  
Estate agents will be required to produce documents to prove trust money is being handled appropriately, with inspections conducted on top of the yearly trust account audits. 
There are strict laws surrounding how estate agents should keep and file money they receive.  
Advance funds must be deposited into an estate agent’s trust account, and records must be kept showing details of each trust money transaction.  
Acting Director of Consumer Affairs Victoria Michelle Osborne said failing to handle trust account money appropriately may result in the delay or failure of property purchases, causing emotional and financial stress for those involved.  
“Consumer Affairs Victoria takes the misuse of trust account money seriously and has zero tolerance for estate agents who do so,” said Ms Osborne.  
“Good agents who have done nothing wrong have nothing to fear from the new approach.”  
Failing to appropriately manage trust money is a significant offence, with estate agents facing fines of up to $82,000, or 10 years’ imprisonment. 
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Consumer Affairs Victoria increasing the number of trust account inspections

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Consumer Affairs Victoria has commenced criminal action against Thomas Aloysius, 47, of Hallam, for alleged breaches of the Estate Agents Act 1980 (the Act) and its Regulations. 
It is alleged that, while working as an estate agent’s representative between May and June 2017, Mr Aloysius: 
<ul>
<li>advised a vendor that he had received an offer of $600,000 to purchase the vendor’s property, when the offer made by the purchaser was $620,000, and</li>
<li>accepted a $20,000 partial deposit from the purchaser into his personal bank account, instead of the required trust account. </li>
</ul>
Mr Aloysius faces six charges: 
<ul>
<li>Three relate to his alleged misuse of the $20,000, in breach of the Act. </li>
<li>Three relate to alleged breaches of the Estate Agents (Professional Conduct) Regulations 2008; these include that Mr Aloysius:
<ul>
<li>did not act in his principal’s best interests; and </li>
<li>engaged in conduct detrimental to the industry’s interests and reputation. </li>
</ul>
</li>
</ul>
The matter was brought to our attention through a consumer complaint. 
Estate agents or agent’s representatives who misuse trust funds can face penalties including fines, or jail for more serious breaches under the Act. 
The matter will be heard in the Dandenong Magistrates’ Court.
 
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