The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 40-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 40-storey tower, which has just shy of 230 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Consumer Affairs

<html><body>
A Mount Eliza estate agency and its director and officer in effective control have each been penalised $8,500 for contravening Victorian estate agent laws.
The Frankston Magistrates’ Court found that between June 2015 and March 2016, Helen Sly, 64, of Mount Eliza, knowingly authorised or permitted Bay Life Properties to:
<ul>
<li>cause a deficiency in its trust accounts, ranging from $500 to $58,000, by not having sufficient funds in the trust account at all times</li>
<li>on five occasions, fraudulently convert trust money to its business cheque account before it was entitled to the funds. </li>
<li>fail to keep full and accurate accounting records showing particulars of each transaction, and</li>
<li>fail to correctly balance accounts at the end of the month.</li>
</ul>
The five transfers totalled $14,500.
The Consumer Affairs Victoria department became aware of the offences after undertaking an inspection of the business following the receipt of a qualified trust account audit report.
It related to deposits for Mt Eliza and Mt Martha house sales between June 2015 and March 2016.
On each occasion she repaid the money back into the account a few days later.
Defence lawyer Bradley Newton said Sly was under financial pressures from her business and was deeply ashamed of her behaviour.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mt Eliza estate agent fined over contravening Victorian estate agent laws

<html><body>
A leading Melbourne buyers' agent, Mal James, has demanded Consumer Affairs Victoria provide a report on the conduct of The Block Elsternwick auctions.
His concerns revolve around the pass-in of Ronnie and Georgia’s offering:
<ul>
<li>in law</li>
<li>in fairness</li>
<li>in Frank Valentic’s dudded buyer</li>
<li>in the the message it sends about what’s ok at Victorian auctions going forward.</li>
</ul>
James said he thought the auction did not follow Victorian legislation where the passed-into highest bidder has met the reserve in first-up negotiations.
The house passed in on a $2.6 million bid, $20,000 shy of the reserve. The buyers' agent Frank Valentic made two offers higher than the reserve, but his bids were not accepted.
He or she, by law, buys the property when you meet the reserve, James maintained, noting it did not happen.
James cited the CAV and the government website, adding that the CAV had got caught up in 'the Hollywood' of the televised show.
A Consumer Affairs Victoria inspector monitored the auction.
<a href="https://marketnews.com.au/wp-content/uploads/Laws21.jpg"><img src="https://marketnews.com.au/wp-content/uploads/Laws21-540x448.jpg" alt="Laws2" width="540" height="448"></a>
<a href="https://marketnews.com.au/wp-content/uploads/Laws2.jpg"><img src="https://marketnews.com.au/wp-content/uploads/Laws2-597x441.jpg" alt="Laws2" width="597" height="441"></a>
"I am not talking about a minor technical breach here," James said.
"If CAV says this is ok, what sort of chance of fair play does any buyer have at any auction?
"Does nobody care about the buyer of was dudded?"
Television viewers saw Ronnie and Georgia’s home passed into Frank Valentic’s buyer as the highest bidder.
His client’s quick post-auction offer met the reserve.
"So why did he not buy it then and there – why did further negotiations continue?" James asked.
"In fact why did Frank’s buyer not buy it at $2,620,000 – the reserve?
"Why would anyone bid at auction under what we saw on The Block – what protections do we as buyers really have?"
Another buyer, represented by Nicole Jacobs, who it wasn’t passed into, who James suggested didn’t even bid during the auction, bought it.
"Why do we have auction laws and rules? Why are Frank or Nicole not speaking out about this – the rightful buyer (Valentic’s) appears to have been completely dudded and by their silence, they as licensed representatives of buyers, seem to imply this sort of auction behaviour is OK," James claimed.
"Fairness was trampled on, the rightful owner tossed aside, the professional selling agent ignored, the spirit and the laws of Victorian auctions sidelined – I suppose that makes it OK."
Valentic told Fairfax Media that he made two offers — $2,675,000 and $2,725,000 — but both were rejected after the auction. 
The house sold for $2,781,000.
A Consumer Affairs Victoria spokeswoman said the auction process was legally compliant.
"Frank Valentic’s first offer of $2,675,000 technically should have bought the property – yet he didn’t buy it," James noted.
Valentic was resigned to having been outdone by Jacobs.
“We had the money to buy that, we offered more than the reserve price," Valentic told the Herald Sun.
“But that’s The Block auctions. It’s a rollercoaster,” the veteran Block bidder said.
He had been bidding for a young upsizing family with two young children from Malvern East.
White it was "a very disappointing result for our clients" he managed to secure Hannah and Clint’s beautiful house for them for what he believed was the bargain of the auction finale at $2,615,000.
After the auction, Jacobs claimed due process was followed.
“Not unlike most auctions on the street where they pass in, there was a bit of confusion,” she said.
“Clearly I probably should have started bidding a little earlier but I was really waiting, because the other auctions had all stalled, for it to start again.”
</body></html>

jchancellor-FAypfDUnLy

Consumer Affairs Victoria - and buyers' agents - let down bidders in The Block Elsternwick auction outcome

<html><body>
A former Ray White franchisee is alleged to have breached the Estate Agents Act 1980 while operating as Ray White Werribee.
The Sarain Pty Ltd is the 10th agency alleged to have been underquoting since the Taskforce Vesta crackdown by Consumer Affairs Victoria (CAV).
The CAV has applied to the Victorian Civil and Administrative Tribunal to hold an inquiry in relation to The Sarain Pty Ltd (ACN: 143 731 006) and its director, Surinder Sarain, 42, of Ormond.
It alleges that the company and Sarain contravened the Estate Agents Act 1980 when the company was trading as Ray White Werribee.
Ray White advised Sarain had operated at the brand’s Werribee office for about two-and-a-half years from July 2013 to March 2016.
The grounds of inquiry include that the company and Sarain:
<ul>
<li>advertised 14 properties for sale in the western suburbs at a price that was less than the:
<ul>
<li>vendor's reserve price as stated on the sale authority, or</li>
<li>estimated selling price, or</li>
<li>lower limit of the estimated selling range as stated on the sale authority.</li>
</ul>
</li>
<li>failed to notify the Business Licensing Authority within seven days of employing agents' representatives, and</li>
<li>failed to meet certain trust account record requirements.</li>
</ul>
</body></html>

Former Ray White Werribee agent alleged to have been underquoting

<html><body>
A Yarrawonga real estate agency and its director have been fined $15,000 plus costs after pleading guilty to causing trust account deficiencies and misappropriating funds.
A Consumer Affairs Victoria (CAV) investigation revealed Aldergate Nominees Pty Ltd — trading as Stockdale &amp; Leggo, Yarrawonga — and its sole director, Tracey Anne Smith, 43, of Yarrawonga, misappropriated more than $18,500, relating to 21 transactions, between October 2015 and August 2016.
Smith and Aldergate Nominees’ licences were cancelled as a result of the guilty finding.
Aldergate Nominees Pty Ltd breached the Estate Agents Act 1980 by removing funds from the company's rental trust account and sales trust account, fraudulently converting them for their own use.
The matters came to the VAV attention after its received bank notification that the rental trust account was overdrawn.
CAV staff then conducted an inspection of the agency and reviewed its files.
Smith must also pay costs of more than $1,600 after the matter was finalised at the Wangaratta Magistrates' Court.
</body></html>

Yarrawonga real estate agent's licence cancelled

<html><body>
Twenty formal warnings have been issued to Victorian estate agents as a result of a recent review, with 13 continuing investigations into underquoting at agencies across the state currently underway.
“Consumer Affairs Victoria is determined to level the playing field for Victorian home buyers,” Consumer Affairs Victoria director Simon Cohen said.
Victoria has seen court action with agency Hocking Stuart last month ordered to pay $330,000 for “serious” underquoting.
Legislation has been passed by the Victorian Parliament that will force agents to give greater context around how they reached an estimated sale price, including using at least three comparable sales as a reference point for advertising the estimated price.
A survey by Consumer Affairs Victoria as part of its 12-month review into real estate agent underquoting found a quarter of the properties sold for between 10 and 20 percent more than their advertised estimated price.
Taskforce Vesta reviewed 200 Victorian properties from first listing to sale over the past year, and 63 percent of them sold for above the estimated price.
Some 30 percent of properties sold for between 0.1 and 10% above the estimated price; 26 percent sold for between 10.1 and 19.9 percent above the estimated price; and 7 percent sold for 20 percent or more above the estimated price.
The findings led the consumer watchdog to review 1400 files at 34 real estate agents across the state, SmartCompany reported.
</body></html>

13 Victorian estate agents facing underquoting prosecution

<html><body><div class="page" title="Page 1">
<div class="section">The Westpac Melbourne Institute Index of Consumer Sentiment rose by 4.2% in February to 101.3 from 97.3 in January. <div class="layoutArea">
<div class="column">
The Index has now recovered all the ground it lost in January when it fell by 3.5%. 
The Index has now returned to a level (above 100) where optimists outnumber pessimists. This is good news in that there have only been five months over the last two years when we have had optimists in the ascendency. 
Last month we interpreted the 3.5% fall in the Index as being mainly due to respondents’ concerns with the sharp falls in share markets and the oil price from the beginning of the year. 
Between the beginning of the year and the final day of the January survey Australia’s share price Index fell by around 8% and the oil price was down by 20%. 
Over the four weeks to the end of this February survey there has been little net movement in either share markets or the oil price although we have continued to see significant volatility. Respondents were clearly relieved that markets did not follow on from the steep declines we saw in early January. 
While the plunge in the oil price is disturbing from a market perspective, households are now benefitting from lower petrol prices. 
Since the survey in January “average pump price” has fallen by 8.5% providing households with a decent boost to disposable incomes. 
It is important to note that since the February survey closed on February 6 there has been renewed weakness with the Australian share market down by nearly 3% and oil prices down by 8%. 
Of course it is too early to speculate whether markets will continue to weaken over the next few weeks. 
The significant influence of markets on the recent Confidence measures is best demonstrated in the component of the Index measuring how respondents assess family finances relative to a year ago. 
In its recent Statement on Monetary Policy the Reserve Bank highlighted this component in its discussion on consumption indicators. 
In today’s survey ‘family finances relative to a year ago’ lifted by 11.3% following a 9.4% fall in January. This component of the Index is now up by 3.4% compared to a year ago. 
The other component of the Index which measures respondents’ assessments of their own financial position – ‘family finances over the next 12 months’ – was also strong – rising by 3.8%. 
The outlook for the economy improved by less than respondents’ own financial assessments. The sub-indexes tracking expectations for ‘economic conditions over the next 12 months’ fell by 0.6% and ‘economic conditions over the next 5 years’ increased by 4.0%.
<a href="/images/2016/02/10/Screen%20Shot%202016-02-10%20at%2011.26.56%20am.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/10/Screen%20Shot%202016-02-10%20at%2011.26.56%20am.png" alt="" width="371" height="244">
 
 
</div>
<div class="column">
Retail signals were also encouraging with the ‘time to buy a major household item’ sub-index up by 3.1%. 
There has been a disappointing deterioration in respondents’ confidence around the jobs market. Despite ongoing strong employment reports and a marked fall in the unemployment rate the Westpac Melbourne Institute Index of Unemployment Expectations increased by 1.9% to now be 7.7% above its recent low in October (recall that higher reads indicate a more pessimistic outlook for unemployment). Certainly, the Index is still below its level from a year ago by 1.7% but that compares with October when it was down by 9.2% over the previous year and was providing a signal quite consistent with the improving employment reports. 
After sending some encouraging signals in January, sentiment toward housing soured again in February. Some of this variation is likely to be seasonal. The ‘time to buy a dwelling’ index fell 12% to 99.3 after increasing by 14% in January. The Index is now back at its December level. It is 21% below its level of a year ago. 
Despite the overall Index being back at its December level there has been significant movement amongst the states with NSW and Victoria substantially above the December levels and the smaller states all well below. 
We saw a similar story for House Price Expectations. After lifting by 20.5% in January this Index fell by 12.5% in February. However the Index is still comfortably above its December lows. 
The Reserve Bank Board next meets on March 1. Following the recent turmoil, markets are convinced that the Reserve Bank will be cutting rates by May, if not earlier. Today’s report highlights that one of the Bank’s most significant concerns of whether international developments will weigh on domestic demand will need more time to resolve. Certainly the resilience of Consumer 
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Sentiment, and in particular, respondents’ assessments of their own financial position are not pointing to a significant deterioration in domestic demand. 
The other key issue for the Bank is whether recent momentum in the labour market can be sustained. In that regard today’s report provides a less encouraging insight with the Westpac Melbourne Institute Index of Unemployment Expectations printing a disappointing result. 
We are maintaining our call that rates will remain on hold over the course of 2016.
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Consumer sentiment bounces back: Westpac's chief economist Bill Evans

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Consumer Affairs Victoria has ordered that estate agent Scott Hoare may not hold a licence or act as an agent’s representative until October 2024.
Scott Hoare, 40, of Tanjil South, was previously the sole director of SLGH, which traded as Stockdale &amp; Leggo Trafalgar in regional Victoria.
The trust account deficiency was confirmed in early April 2014, after SLGH's trust account auditor advised Consumer Affairs Victoria of irregularities occurring outside the annual audit period beteween July and September 2013.
The Victorian Civil and Administrative Tribunal (VCAT) found that Scott Hoare fraudulently withdrew $37,490 from the trust account.
He also failed to transfer $5,090 of rent into the account after the group’s internal structures brought the matter to the attention of the authorities.
“Scott was expelled from the Stockdale &amp; Leggo group on 19 March 2014 as soon as these issues became apparent, and it was through our due diligence that the authorities were able to act so quickly,” Stockdale &amp; Leggo <a href="https://www.rebonline.com.au/breaking-news/9349-pressured-real-estate-boss-banned-for-fraud" target="_blank">advised the REB industry website</a>.
According to VCAT, the trust account fraud involved “10 instances of early sales commissions drawn, cash deposits not banked and unconfirmed disbursements” between July 2013 and September 2013, instead for personal purposes including evidence that he had made withdrawals at a casino.
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Stockdale & Leggo Trafalgar estate agent banned over trust account fraud

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NSW Fair Trading Commissioner Rod Stowe is warning promoters of property investment schemes across Australia "to operate legally or face sanctions."
Mr Stowe said a common theme was consumers being misled about the financial benefits of buying into a particular scheme.
“Regulators across Australia have initiated court action to stop promoters who promise financial benefits they cannot deliver on or who fail to tell people about their cooling-off rights to get out of a service they were pressured into buying at a ‘free’ seminar,” he said.
<img class="scaledImageFitWidth img" src="https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-xfa1/v/t1.0-9/s480x480/10995568_811488198927700_4622885664525419006_n.jpg?oh=e52c44af6f044ec22fcb98b07d974f4b&amp;oe=5653ECA9&amp;__gda__=1447956603_2edb10507e13315c0aae259a7c4a337d" alt="I Love Real Estate's photo." width="470" height="168">
He noted regulators closely examined the activities of traders between 2013 and 2015 with 20 traders receiving legal notices requiring them to substantiate claims made in advertisements and at their seminars.
"This prompted legal action against at least 10 entities and their associates:
<ul>
<li>No Loan Home Pty Ltd trading as Perth’s Easyhomes WA, Filip Butkovic, Nikola Butkovic, Patricia Susilo, Bryan Susilo and Rowan Lines, led by Consumer Protection Western Australia</li>
<li>We Buy Houses Pty Ltd and its director Rick Otton, led by the Australian Competition and Consumer Commission as a result of a coordinated investigation with NSW Fair Trading</li>
<li>Benjamin David Chislett, Creative Property Australia Pty Ltd and Benny Bull Pty Ltd led by Consumer Affairs Victoria."</li>
</ul>
"In addition, legally-enforceable undertakings were given to regulators by seven traders including Rick Otton and Dymphna Boholt who promised they would modify their behaviour, including changing their advertising and to stop making misrepresentations."
Queensland Fair Trading regulators recently secured the undertaking from the Sunshine Coast-based Dymphna Boholt who was handed a $15,000 penalty and an enforceable undertaking "not to engage in conduct that is liable to mislead the public or any individual within Australian in contravention of Australian Consumer Law (Queensland)''.
Fair Trading investigators found that Boholt made numerous claims in full-page newspaper advertisements promoting her 2013 seminars - and later at the seminars - which were found to be inaccurate.
<div class="uiScaledImageContainer"><img class="scaledImageFitWidth img" src="https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-xpf1/v/t1.0-9/s851x315/11012618_856746371068549_433386019905026974_n.jpg?oh=8f10c7aff10ffef6a24f8aa4c29c2bf3&amp;oe=5651A160&amp;__gda__=1443774695_3282f0b33348c27ce8f823ac676ea220" alt="'The I Love Real Estate Super Conference 2015 is on! and it's bigger than we've ever had before.'" width="470" height="315"></div>
The breaches of the ACL(Q) were outlined in a nine-page document published by Fair Trading suggesting claims made by Boholt in seminar presentations at the Brisbane Convention &amp; Exhibition Centre in August 2013 over stated the level of income earned by the property investors in several instances as Boholt "failed to undertake due diligence" to ensure the investor claims were accurate.
A total of 67 education/warning letters were also issued across Australia.
“We are sending the message to the industry that they have to act fairly with consumers or face action by consumer law regulators using the Australian Consumer Law,” the commissioner said.
“Failure to do so will render the promoter liable for civil and criminal penalties, in some instances up to $1.1 million for a corporation and $220,000 for an individual.”
Before buying an investment property from a property promoter, consumers should conduct their own research and always obtain independent financial and legal advice.
Stowe said consumers should also be wary of:
<ul>
<li>high pressure sales tactics characterised by rushed decision making and contract signing and the payment of fees (including discounts offered to seminar attendees who sign up on the day)</li>
<li>inferences that a system is ‘government approved’</li>
<li>claims of capital growth rates that may not be independent or credible</li>
<li>spruikers who don’t allow questions or who ignore or downplay the risks and costs involved</li>
<li>spruikers who suggest specific investment opportunities such as a particular property development, as they may be receiving a commission or have an undisclosed interest in it</li>
<li>spruikers pushing people to buy properties interstate that cannot be seen, or off the plan properties that do not yet exist</li>
<li>spruikers requiring participants to sign non-disclosure agreements</li>
</ul>
 
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Dymphna Boholt gives undertakings after caught in examinations by regulator into property promotion investment schemes

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A Brisbane real estate agent has been ordered to pay $12,687 in fines and compensation by the Queensland Civil and Administrative Tribunal for operating without a real estate agent licence and the improper use of a trust account.
Damien Grimsey was fined $5,000 for trading unlicensed. He was disqualified from holding any form of real estate licence or certificate for seven years.
Grimsey was also ordered to pay $7,687 compensation to a client for failing to pass on an insurance claim payment.
The tribunal heard Grimsey stepped in to take over his father’s real estate business, State Invest Property Services, while his father was hospitalised.
Grimsey operated without a licence from July 2008 to November 2008 and May 2011 to January 2012.
After a receiver was placed in charge of State Invest Property Services, Grimsey opened another trust account under a similar name and sent notices to clients falsely stating that normal trading would shortly resume under the new trust account.
Fair Trading executive director Brian Bauer said that even in unfortunate circumstances, family members could not simply take over a licensed business.
“The property industry is licenced and regulated to protect the public and maintain a high level of professionalism,” Bauer said.
“Consumers have the right to expect their real estate agent is appropriately licensed, and has the training and knowledge to be able to carry out the job properly."
The law does allow a principal licensee to appoint a substitute licensee for a period of not more than 30 days providing certain conditions are satisfied under the Property Occupations Act 2014.
 
 
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Queensland 'agent' fined for taking over sick dad's estate agency

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The ‘cooling off period’ is a right that the buyer has when they sign the contract for sale of a residential property. It provides them a number of days to back out of the contract.
If you don’t know what a cooling off period is, you can <a href="/expert-insights/buying/what-is-the-cooling-off-period-investment-terms-explained">read more about it in our quick explainer here</a>.
The terms of the contract vary from state to state, though there are many similarities.
Consumer Affairs Victoria details six occasions where a buyer, usually, cannot cool off. They also note that a clause in a contract cannot be used to remove the right to cool off where it is allowed.
<ol>
<li>On commercial or industrial properties. 
</li>
<li>On rural properties larger than 20 hectares. 
</li>
<li>On a property sold at public auction, or within three clear business days before or after an auction. 
</li>
<li>If they are an estate agent or an agent's representative. 
</li>
<li>If they are a company. 
</li>
<li>If they have previously entered into a contract of sale with the seller for the same property with substantially the same terms.</li>
</ol>
Ensure you obtain legal advice around the nature of your cooling off period.
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