A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.

The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.

Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.

Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.

<img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" />

Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.

Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.

Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.

The appeal of Rainbow Bay has extended well beyond the surfing community.

International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".

The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.

Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.

<h2>Boutique project draws owner-occupiers</h2>

Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.

The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.

Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.

The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.

After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.

Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.

He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a>

&nbsp;

&nbsp;

&nbsp;

Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.

Online shopping has become one of the clearest examples of that change.

Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.

For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<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/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe>

Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.

The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.

For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Australian Capital Territory

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The fund manager Placer Property Group have bought the NewActon East building in Canberra, home to the head office of the Australian Competition and Consumer Commission (ACCC).
Placer is seeking to raise $26.5 million in equity from self-managed super funds and individual investors for the unlisted property fund.
It offers investors an initial return of 7.75% paid quarterly.
The <a href="https://www.placerproperty.com.au/fund_newacton_east" target="_blank">NewActon East Property Fund</a> is a single-asset syndicate which will run for approximately seven years.
The fund’s only asset will be the commercial component of 21-23 Marcus Clarke Street, an ‘A’-grade, mixed-use building in the NewActon precinct on the fringe of the Canberra CBD. 
It was constructed in 2007 as an eight-storey, mixed-use office, retail and residential development. The fund has only acquired the building’s office and retail components (five storeys plus 115 car parking spaces) – the remaining three storeys of apartments remain in separate hands. 
Purchasing the asset will require $45 million to $49 million, including costs. 
It is expected the asset to produce reliable income, based on: 
<ul>
<li>98.5% occupancy;</li>
<li>Contracted fixed rental increases of at least 3.35% per annum; </li>
<li>A WALE of 9.2 years (by income); and</li>
<li>
A credit-worthy major tenant – 79.8% of passing rent is secured by a lease to the ACCC until 2022, the year after the initial term expires. 
</li>
</ul>
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jchancellor-FAypfDUnLy

ACCC's Canberra head office bought by Placer Property fund

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Two waterfront development sites in Canberra’s Yarralumla Bay have sold for a combined $1.78 million to the neighbouring Canberra Girls Grammar School.
Located on the shores of Lake Burley Griffin, Block 15, Section 17 sold for $860,000 while Block 16, Section 17 sold for $920,000.
The two sites are three kilometres from Capital Hill and five kilometres from Canberra City.
JLL managing director for ACT Andrew Balzanelli and JLL head of investment sales for ACT Greg Lyons handled the Land Development Agency offerings.
There were six registered bidders.
The Canberra Girls Grammar School (CGGS) principal Anne Coutts said the acquisition presented an exciting phase in the development as the school moves towards its 90th anniversary in 2016.
Picture of Canberra Girls Grammar School courtesy of AY Arktos/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/2.5" target="_blank">CC BY-SA 2.5</a>.
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Canberra Girls Grammar School buys adjoining sites

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The ACT’s suburb rental yields for apartments range from as low as Deakin’s 2.75%, but where are the best performing?
Here are the top 10 gross rental yields, as recorded by RP Data, for unit suburbs across the ACT.
<a href="/news"><img src="/images/2014/07/04/yellow-one.jpg" alt="">Scullin</a>
<ul>
<li>Gross rental yield: 7.13%</li>
<li>Median price: $270,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-two.jpg" width="32" height="31">Franklin</a>
<ul>
<li>Gross rental yield: 6.34%</li>
<li>Median price: $308,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-three.jpg" width="31" height="32">City</a>
<ul>
<li>Gross rental yield: 6.08%</li>
<li>Median price: $428,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-four.jpg" width="32" height="32">Curtin</a>
<ol>
<li>Gross rental yield: 5.88%</li>
<li>Median price: $292,000</li>
</ol>
<a href="/news"><img src="/images/2014/07/04/yellow-five.jpg" width="31" height="31">Ngunnawal</a>
<ul>
<li>Gross rental yield: 5.79%</li>
<li>Median price: $350,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-six.jpg" width="34" height="33">Melba</a>
<ul>
<li>Gross rental yield: 5.67%</li>
<li>Median price: $330,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-seven.jpg" width="32" height="32">Theodore</a>
<ul>
<li>Gross rental yield: 5.57%</li>
<li>Median price: $362,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-eight.jpg" width="31" height="30">Banks</a>
<ul>
<li>Gross rental yield: 5.55%</li>
<li>Median price: $375,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-nine.jpg" width="33" height="31">Isabella Plains</a>
<ul>
<li>Gross rental yield: 5.48%</li>
<li>Median price: $375,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-ten.jpg" width="32" height="31">Florey</a>
<ul>
<li>Gross rental yield: 5.47%</li>
<li>Median price: $380,000</li>
</ul>
<a href="/news"><img src="/images/2014/07/04/yellow-ten.jpg" width="32" height="31">Page</a>
<ul>
<li>Gross rental yield: 5.47%</li>
<li>Median price: $380,000</li>
</ul>
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jduke-EHk3XBmHkn

The ACT's top 10 yielding unit suburbs

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The ACT is a market that not every investor looks to tackle, with most heading to neighbouring New South Wales for strong performance.
However, while <a href="/expert-insights/investing/john-mcgrath-s-10-sydney-suburb-picks">Sydney did secure 10 places on industry expert John McGrath’s hotspot list</a>, Canberra took out three choices.
Property Observer decided to take a closer look at his three selections, the prominent statistics and the differences between the areas.
<ul>
<li><a href="/news">AINSLIE</a></li>
</ul>
McGrath calls north-east Canberra’s Ainslie a “strong reliable performer”. The large and tightly-held area caught his eye for a significant segment of the suburb that is elevated and able to capture city views, as well as that it backs onto bush reserve.
The reserve in question is Mt Majura Nature Reserve, which sits to the east of the suburb. It is further bound by Limestone Avenue and Majura Avenue to the west.
“It is walking distance to the city with wide leafy streets and vibrant village shops and cafes. Also has easy access to the employment hubs of Russell &amp; Barton,” he said.
Less than a 10 minute drive to the centre of Canberra, it appears that it could take around 40 minutes to walk.
The area includes a number of leafy reserves and open space areas, including Corroborree Park, Majura Oval and Ainslie Football Park, as well as trails through the reserve.
It has bus routes through the main local roads of Campbell Street, Ebden Street, Office Crescent and Cowper Street. The suburb includes an IGA supermarket at its centre, a laundrette, pharmacy, liquor store, and a few eateries. There is a local football and social club.
The 2011 Census put the area as containing 5,100 people, with a median age of 40. Of the dwellings, 82.8% are separate houses, with the majority including three bedrooms (49.2%), closely followed by three bedrooms and two bedrooms at 22.3% and 20.7% respectively. In total, 38.3% were recorded as renters.
Statistics to know
<ul>
<li>Vacancy rate: 2.3%</li>
</ul>
Source: SQM Research
Houses
<ul>
<li>Median price: $695,000</li>
<li>Median advertised weekly rent: $510</li>
<li>Gross rental yield: 3.82%</li>
<li>12 month growth: 3.42%</li>
</ul>
Units
<ul>
<li>Median price: $717,000</li>
<li>Median advertised weekly rent: $550</li>
<li>Gross rental yield: 3.99%</li>
<li>12 month growth: -5.35%</li>
</ul>
Source: RP Data
Other neighbouring suburbs: <a href="/news">Braddon</a>, <a href="/news">Dickson</a>, <a href="/news">Hackett</a>, <a href="/news">Campbell</a>
See over page for McGrath's other ACT picks - Turner, Crace and Franklin
<hr class="system-pagebreak">
<ul>
<li><a href="/news">TURNER</a></li>
</ul>
Turner is seen by McGrath as a “very solid performer” and one of the closest established suburbs to the CBD. He notes that a lot of new boutique developments of apartments and townhouses are going in, and that it has “low long-term vacancy rates &amp; reliable capital growth”.
It is also close to the Australian National University (ANU), which he says makes it popular with students, academics and CBD executives.
A five minute drive north of the CBD, and less than 30 minutes to walk, the suburb is bound by Northbourne Avenue to the east, Barry Drive to the south and David Street to the north. It has a substantial amount of green parkland throughout, particularly through the central corridor, including Masson Street Oval and Haig Park West. Much of this surrounds Sullivans Creek, which runs vertically through the centre of the suburb.
Bus routes are regular along Boldrewood Street, McCaughey Street and Northbourne Avenue.
The area is home to Treehouse in the Park Early Learning Centre and Turner School, with adjacent Turner School Playing Field. ANU is just outside the suburb’s boundaries, to the south. Those looking for options to buy units, should note that higher density dwellings are more common in the northern part of the suburb.
The 2011 Census recorded 3,595 people in residence in the suburb, with a median age of 30. In total, 72% of the dwellings were recorded as flats, units or apartments, with another 20.2% recorded as separate houses. The most common dwelling were two bedrooms, at 42.6%, followed by one bedroom and three bedrooms at 27.4% and 20.4% respectively. In the area, 62.8% are rented.
Statistics to know
<ul>
<li>Vacancy rate: 2%</li>
</ul>
Source: SQM Research
Houses
<ul>
<li>Median price: $1,185,000</li>
<li>Median advertised weekly rent: $520</li>
<li>Gross rental yield: 2.28%</li>
<li>12 month growth: 29.37%</li>
</ul>
Units
<ul>
<li>Median price: $460,000</li>
<li>Median advertised weekly rent: $455</li>
<li>Gross rental yield: 5.14%</li>
<li>12 month growth: -1.07%</li>
</ul>
Source: RP Data
Other neighbouring suburbs: <a href="/news">O’Connor</a>, <a href="/news">Braddon</a>, <a href="/news">Acton</a>
See over page for John McGrath's third pick - Crace and Franklin
<hr class="system-pagebreak">
<ul>
<li><a href="/news">CRACE</a>, <a href="/news">FRANKLIN</a></li>
</ul>
These two suburbs are neighbours, and thus make the list as one entry. McGrath notes that they’re relatively new and popular with families due to their modern housing, landscaped parks, sporting facilities, cafes and schools.
“Crace is Australia’s fastest growing housing market according to the Housing Industry Association, based on the value of new home approvals and population growth,” he said.
Crace and Franklin are located within a 40 minute drive of each other, the lengthy time to drive to a neighbouring suburb due to the presence of Gungaderra Grasslands Nature Reserve between the two. Both are located within a 15 minute drive north of the CBD, some 10 kilometres away, and both are within the Gungahlin District.
The leafy Crace includes a number of parks, a Hilltop Reserve and even a community garden. It is bound by the Barton Highway and Gundaroo Drive. It saw the roads and display homes finished in 2009, so has some time until it is established. It was <a href="https://www.crace.com.au/" target="_blank">developed over the past five years as a joint venture</a> between project manager CIC Australia, and Land Development Agency, as well as Defence Housing Australia, Community Housing Canberra and Tatebrook Pty Ltd.
The sales and information centre closed permanently from the end of January this year, and the area won the 2014 ACT Property Council of the Year award for Project Development of the Year, as well as Best Masterplanned Community in the Innovation and Excellence Awards.
The area includes Abena North apartments (featuring 20 units), on the main boulevard, as well as terraces, including 17 townhouses in the Greenleigh Park development, and freestanding homes across the estate. About 1,600 homes were estimated on completion, with sales strong in the latter part of 2013. A number of other apartment projects are also located in Crace.
The bus route is not as comprehensive in this area, with services at Langtree Crescent and Abena Avenue.
Of course, the 2011 Census data will be a little less up to date than that for other suburbs. As of 2011, it notes that 563 people were in residence, with a median age of 27. There were 327 dwellings, with 45.6% of them being semi-detached, row or terrace houses, most likely with three bedrooms (35.2%) or two bedrooms (32.2%). At that point in time, 36.3% were rented.
Franklin, which is adjacent to the Mulanggari Grasslands Nature Reserve, also includes the Guburb Dhaura Heritage Park. It is primarily bound by Flemington Road, Well Station Drive and Gungahlin Drive.
The main bus route covers Hoskins Street, Oodgeroo Avenue and Flemington Road. There is an early childhood home in the area.
The 2011 Census data records a total of 3,804 people in the suburb, with a median age of 28. Of the dwellings, 82.3% were separate houses, of which 57.2% had four or more bedrooms. A further 30% had three bedrooms. Tenants in the area amount to 29.1% of the population.
Statistics to know (Crace) (Vacancy rate and unit data not available)
Houses
<ul>
<li>Median price: $562,000</li>
<li>Median advertised weekly rent: $450</li>
<li>Gross rental yield: 4.16%</li>
<li>12 month growth: 0.81%</li>
</ul>
Source: RP Data
Statistics to know (Franklin)
<ul>
<li>Vacancy rate: 2.6%</li>
</ul>
Source: SQM Research
Houses
<ul>
<li>Median price: $543,000</li>
<li>Median advertised weekly rent: $460</li>
<li>Gross rental yield: 4.41%</li>
<li>12 month growth: -7.26%</li>
</ul>
Units
<ul>
<li>Median price: $308,000</li>
<li>Median advertised weekly rent: $375</li>
<li>Gross rental yield: 6.34%</li>
<li>12 month growth: -3.30%</li>
</ul>
Source: RP Data
Other neighbouring suburbs: <a href="/news">Gungahlin</a>, <a href="/news">Mitchell</a>, <a href="/news">Harrison</a>, <a href="/news">Palmerston</a>, <a href="/news">Giralang</a>, <a href="/news">Kaleen</a>, <a href="/news">Nicholls</a>
YOU MIGHT ALSO WANT TO READ: 
<a href="/news/qld/john-mcgrath-s-five-south-east-queensland-hotspots">John McGrath's five south east Queensland hotspots</a>
<a href="/news/act/canberra-ranked-the-best-place-to-live-but-its-certainly-not-the-best-place-to-buy">Canberra ranked "the best place to live", but it's certainly not the best place to buy: Terry Ryder</a>
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John McGrath’s three Canberra hotspots under the microscope

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Canberra continues to rank as the most affordable state in Australia, however first home buyers shouldn’t get their hopes up.
The Adelaide Bank/REIA Housing Affordability Report notes that while it looks good on paper, the reality may be a different story.
For the ninth year in a row, Canberra records the highest affordability level based on a median house price of $535,000 put into the ratio of median family income to average loan repayments. This sees the proportion for the ACT stand at 19.8%, compared to New South Wales with the worst result at 35.3%.
REIA president Peter Bushby said that the report showed a positive for Victoria, Queensland, South Australia and Tasmania home buyers, with affordability improvements over the last quarter. The ACT recorded the strongest annual improvement, despite remaining unchanged over the quarter.
However, Bushby said that first home buyers might not be consider it to be the case in the ACT.
“While on paper, Canberrans have access to the most affordable homes, I suspect many people don’t feel that this is the case, especially first home buyers,” he said.
“While the ACT recorded a 9.7% increase in the number of loans to first home buyers this quarter, this figure is down 34.4% when compared to this time last year,” Bushby explained.
With the First Home Owner Grant for established homes ending a year ago, this was unsurprising, he explained, noting that most states now have restrictions on the established market that he considers “disappointing”.
Canberra’s high median family income sat at $2,491 for the June quarter, with New South Wales recording a median family income at $1,562, where their median house price is $811,837. It seems the high earners in the ACT may be what is behind the territory’s achievement of the “most affordable” title.
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Canberran first time buyers left in the lurch, despite highest affordability level

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A new review into the Residential Tenancies Act 1997 has been announced to balance out the rights of landlords and tenants, according to Attorney-General Simon Corbell.
Corbell said the review would look for an “appropriate” balance of rights for tenants and landlords.
"It gives everyone an opportunity to have their say about whether the law is operating fairly and effectively,” he said.
In property circles it’s commonly believed that tenants are given more flexibility at tribunal.
It will also look at issues around share housing, rental home sustainability and rental accommodation standards.
The sustainability discussion looks at the effects of mandating or providing incentives to lessors or tenants retrofitting sustainability measures, as well as to whether there are any impediments at present.
Share home issues include whether the Act should be required to impose a legal framework.
Submissions are invited by 12 September, 2014 on the discussion papers, which are currently available on www.justice.act.gov.au and there is also an online survey.
The review is being conducted by the Justice and Community Safety Directorate.
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ACT tenants and landlord rights to be re-balanced under Residential Tenancies Act review

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ACT police are investigating a real estate fraud after a Canberra home sold without the consent of the absentee landlord home owner.
The real estate scam at <a href="/news">Macgregor</a> has all the hallmarks of prior fraudulent sales by overseas fraudsters.
The owner, living in South Africa, discovered the north side house had been sold after contacting her local ACT property manager as she had not receive the past four rental payments. 
ACT Police has taken control of the investigation in consultation with police in South Africa. 
"Police will investigate a series of exchanges which led to the sale of the property without the owner’s knowledge or consent, and the disbursement of the funds generated by the deception," the statement said.
The ACT Attorney General Simon Corbell has warned home owners to be vigilant of scammers.
The details of the Macgregor scam have not been publicly released, but Property Observer notes sales over the period between last October and February this year ranged between $200,000 and $560,000. There was a $335,000 average sale price.
There have been similar cases in WA including two successful sales and six attempted real estate frauds.
The ACT Real Estate Institute CEO, Ron Bell told 2CC Capital Radio that agents and homeowners must be wary as the scammers tend to get through the web.
YOU MAY ALSO LIKE TO READ: 
<a href="/news/14-anti-fraud-tips-for-investment-property-owners-and-vendors">14 anti-fraud tips for investment property vendors</a>
 
 
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Absentee Macgregor landlord loses ACT home to South African fraudster

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In a painful lesson to get insured upon settlement, a Canberra home was left with $100,000 worth of damage after 70 teenagers turned up for a party.
<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-07-09/teen-vandals-trash-home-at-kambah-during-house-part-owners/5584810" target="_blank">According to the ABC</a>, the uninhabited house was advertised as a free house party on a social media website, attracting around 70 15 to 18 year olds who smashed windows, pulled down doors and kicked in walls. Police said the owners, who were renovating the house and living elsewhere, did not know any of the teenagers and had not heard about the party invitation. They had only recently bought the <a href="/news">Tuggeranong</a> house.
Police arrived at the home just after 9pm on Tuesday, finding teenagers leaving.
The ABC reports that Sergeant Mark Roswell, Tuggeranong Station's acting officer in-charge, said the owners were "obviously quite upset and pretty devastated by the damage caused to their house".
"For any teens that were involved, I urge you to come forward and talk to us... It would be better for them to come forward than wait for police to come knock on their door,"said Roswell. He said the owners of cars on the street that night would be contacted.
"This is a rarity, it doesn't happen often in Canberra," he said.
"People do have house parties often, most people don't break into other people's houses to do so."
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jrichardson-uRX5hFdKfN

$100,000 worth of damage as teenagers vandalise Canberra home

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ACT real estate agent Mark Blinksell, ex-director of Grapevine Property &amp; Business, has been fined $10,000 after using a client’s deposit from a trust fund to pay down his own mortgage.
In February, <a href="/news/act/canberra-agent-s-license-cancelled-after-taking-trust-money-to-fund-home-loan">Property Observer reported that Blinksell had his license cancelled for five years</a> and had been disqualified for applying for a real estate of business salesperson’s registration for three years after he was found guilty of engaging in dishonest conduct by misapplying deposit monies received in 2013.
The deposit funds, that had been received around 7 January, 2013, in his role as vendor’s agent, were effectively stolen. He subsequently misrepresented and lied about where the funds were. He had been engaged by the vendor in October 2012, and received $22,000 in a deposit cheque from the buyers in the January.
Blinksell was given a six-month suspended jail sentence and a three year good behaviour bond. He had paid back the money with interest.
ACT Commissioner for Fair Trading Brett Phillips said that the ACT government takes real estate agents’ breaches of the law seriously.
"Real estate agents regularly handle large sums of money for their clients, and it is vital that they understand the gravity of such a responsibility," said Phillips.
Blinksell had operated Grapevine since 2009. He previously held positions at Mirvac and Capital Property Trust.
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Agent fined for using client’s deposit to pay off own mortgage

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You may be surprised to learn that the greatest place to live in Australia is … wait for it, Canberra!
In another of those pointless exercises in which bureaucrats take delight, the Organisation of Economic Co-operation has developed a global well-being matching tool, which considers factors such as safety, health, services, life expectancy, environment, crime rates and income.
Using this exciting new technology, it has determined that Canberra outranks every other city in Australia as the best place to live out your days.
This being so, you might wonder why Sydney has 4.6 million residents and Canberra 380,000, and why there are eight Australia cities with more people than Canberra. Even Tasmania has more residents than the ACT.
Apparently all those poor saps in Sydney don’t know that Canberra is a superior city. Imagine - four million Australians, living a lie.
But here’s an important thought: despite what the OECD tool says about life expectancy, you don’t live longer in Canberra, it just feels that way.
Do the OECD boffins realise that living in Canberra means having Tony Abbott as a neighbour? Or, even worse, Clive Palmer?
Another relevant question is this: if Canberra’s so damn good, how come it’s the worst-performing property market in capital city Australia?
Every other city is showing at least some forward movement in its property markets, but Australia’s best place to be is going nowhere.
Prices have stagnated at a time of very high growth down the road in inferior Sydney. Canberra rents are going backwards and developers of apartment buildings are having to downsize through lack of buyer interest.
Auction clearance rates are 53% for houses and 36% for apartments.
<a href="/news">Goulburn</a>, not far from Canberra, is showing solid growth, but in the capital there’s little in the way of meaningful growth.
<a href="/news">Gosford</a>, where the federal government plans to send 600 Canberra jobs, apparently oblivious to the OECD’s findings, is booming.
Canberra markets are stalled by uncertainty and nervousness resulting from the federal government’s plans to make big cuts to the public sector workforce.
Canberra has maintained consistent turnover of residential property, quarter by quarter, throughout 2013 and into early 2014. The city seems to churn through 1,250 to 1,300 home sales each quarter with consistency.
But, unlike every other capital city in Australia, it has no suburbs charging forward price-wise.
At the top end of the Canberra market, prices are falling. In upmarket <a href="/news">Yarralumla</a>, the median price has dropped 7% in the past 12 months. In <a href="/news">Griffith</a>, the median price has fallen 12% (but remains above $1 million). Equally swanky <a href="/news">Red Hill</a> has dropped 14% in 12 months.
So, a damn fine place to live, if you don’t mind stiff winters and lousy neighbours, but not a great place to own real estate at the moment.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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