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

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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

Industry News

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Former Metro Property Group chief financial officer Travis Deans has been appointed to the role of chief executive officer of land developer Dacland.
Deans joined Metro as one its first employees nearly seven years ago and assisted its expansion to over 150 employees and 63 projects in the portfolio.
He raised in excess of $1.3 billion in debt for Metro while establishing a corporate debt facility with Credit Suisse, to support the fast-growing developer’s needs.
He says he has the same aspirations for his new role as Dacland prepares to launch a new 60-hectare land parcel in Plumpton.
“My aim at Dacland is to build on the platform, corporatise and grow the business and capitalise on new opportunities for bank and equity partners,” Deans said.
“One of the biggest challenges I foresee across the industry in the next five years will be the debt market’s continued lack of availability.
“So in order to deliver innovative funding solutions, relationships will be key, along with the ability to explore non-traditional and alternative opportunities such as corporate facilities or stretched senior debt.”
Dacland’s managing director, John C Dwyer, said that Deans would be an important ingredient in the company’s expansion plans.
“Travis’ passion and approach to finance, along with his experience and motivation to grow a business, were some of the key skills we identified for the role,” he said.
“Dacland has enjoyed steady growth for the last 20 years to become one of the nation’s largest land developers by volume of sales.
“With a number of new projects poised to launch in the next 18 months and a steady foundation of processes and relationships already in place, we are now ready to embrace the next phase of the Dacland journey, with Travis leading that charge.”
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j.ballantyne1990-6AQqhLzZaK

Land developer Dacland appoint new CEO

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A tenanted industrial investment in the heart of a well-established industrial precinct at Southport on the Gold Coast has been sold at auction for $1.31 million.
The freehold industrial complex with seven tenancies at 55 Bailey Crescent, Southport, was sold under the hammer to a private investor by Steven King of Ray White Commercial Gold Coast on behalf of a private owner for a yield of 6.8%.
King said six of the seven tenancies are occupied and the complex is currently generating gross rental income of approximately $90,000 per annum.
“The marketing campaign for this property attracted 36 enquiries and there were four registered bidders at the in-room auction,” he said.
“After some spirited bidding, this strategic industrial investment with development potential sold under the hammer.
“This property provides potential for income upside and is an investment with a diversified holding income stream.”
King said the complex offers a combined net lettable area of up to 2,668 square metres on a site zoned ‘low impact industry’.
“The industrial complex is situated with ample frontage to Bailey Crescent, which leads directly onto Southport Nerang Road enabling travel east-west from Southport, or north-south along Wardoo Street towards Smith Street and the M1,” he said.
“The property is a significant parcel of land within the very tightly held Bailey Crescent industrial area.”
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Southport industrial investment sold for $1.31 million

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The newly formed The Agency website went live yesterday.
But with no sign of their star recruit.
Matt Lahood isn't allowed to take the helm until April after his defection from the McGrath group.
The months of speculation has obviously been accompanied by a few secret signups, lesser-known agents who have joined an array of the many existing agents within the Perth-based group being launched nationally by Ausnet Financial Services.
There are just the nine Sydney residential property listings.
The group's sales team is now headlined by Ben Collier who kicks off his listings with Kathy Ward's Centennial Park offering.
The<a href="https://www.realestate.com.au/property-house-nsw-centennial+park-124601802" target="_blank"> Lang Road holding</a> (below) was bought for $2,505,000 in 2001 by the boss of modelling agency Chic Management. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/110%20Lang%20Road.jpg" alt="">
Collier's colleague Brad Gillespie has three listings.  
The Agency will reportedly offer more lucrative splits for the agents.
Franchise agencies usually take a 50:50 split on all the agents’ sales commissions, with more generous 60:40 splits in the agents’ favour in some cases.
However, The Agency offers agents a starting split of 75:25 split in the agents’ favour, rising to 80:20 and 85:15 as higher targets are met.
The ASX was advised yesterday that Perth-based real estate and financial services group Ausnet Financial Services Limited has entered into a licence agreement and an option to acquire Top Level Real Estate Pty Ltd as part of its planned national roll-out of its The Agency platform, its so-called disruptive and fast growing real estate sales and property management business.
Top Level is the eastern seaboard real estate business with 17 agents, including the following:
Matt Lahood (CEO) – Commences 3 April 2017
Steven Chen (Director of Projects) – Commences 15 February 2017
Maria Carlino (Director of Property Management)
Thomas McGlynn (Director of Sales and Chief Auctioneer)
Ben Collier (Property Partner)
Shad Hassen (Property Partner)
Ausnet advised subject to completion of two non-binding agreements by 30 June 2017, Top Level will have expand by a further 23 agents, with 3,700 properties under management.
Under the licence agreement, Top Level will have rights to use The Agency brand and intellectual property on the East Coast of Australia, while Ausnet will retain an option to acquire Top Level within the next 12 months.
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jchancellor-FAypfDUnLy

The Agency unveils website with Chic model boss Centennial Park offering

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The boutique real estate group, Belle Property International has opened an office in Melbourne's Docklands.
The founder and principal of Verve Real Estate, John Wong, has made the move to Belle Property.
“We’re excited to open Belle Property International Melbourne and have John Wong leading the team. He brings a wealth of experience and knowledge to Belle Property and he reinforces our commitment to developing strong relationships within the Asian market,” said Peter Hanscomb, CEO of Belle Property.
Starting out in the finance sector, John has been in real estate for the past decade.
He opened his own agency in Melbourne, Verve Real Estate and then expanded into the Asian market, securing a Hong Kong office and channel partners throughout South East Asia.
“John’s unique approach to project marketing was a natural fit for the Belle Property International network,” says Stephen Ivanusa, Director and Co-Founder of Belle Property International.
Melbourne is now a strategic location for the Belle Property group, which operates only in premium lifestyle metro, regional and coastal locations.
With a new office opening in Hong Kong during January 2017, Belle Property International aims to further concrete its presence in South East Asia with further offices opening in 2017.
Belle Property International Melbourne is located at 420-422 Docklands Drive, Docklands Victoria.
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jonathanchancellor-7SQnKwU6yx

Belle Property opens first office in Melbourne 

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The 18-office Victorian estate agency Buxton has a new ownership group.
Buxton Corporate will now have seven directors.
The directors include Mark Earle, David Hart, Ben Riddle, Craig Williamson, Chris Hassall and Nathan Jones.
"We are also excited to announce that we have secured <a href="https://www.linkedin.com/in/nigel-o-neil-6a932813" target="_blank">Nigel O’Neil</a> who will join us as managing director," Mark Earle advised staff this week.
"Nigel has nearly a decade of experience leading and developing another real estate group and brings a wealth of knowledge to that role.
"The new leadership team is extremely excited about the future at Buxton and we look forward to sharing more in 2017."
O'Neil's appointment comes after his rapid exit from hockingstuart in February after 8 and a half years’ service.
"When these discussions commenced, the most important aspect for me was for Buxton to remain as Buxton," Earle added.
"Albeit the last few years have been very strong, we firmly believe our best days are ahead of us.
"Our aim is to make Buxton even more of an attraction brand for vendors, landlords and agents."
The first Buxton office was established by the company's founder John Robert Buxton in South Melbourne in 1861.
Buxton has offices across many key inner-suburban and bayside locations, including the Mornington Peninsula and Greater Geelong.
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Nigel O'Neil appointed to lead Buxton in directorship reshuffle

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Grant Harrod, the former chief executive at direct mail company Salmat, has been appointed head of the real estate network, LJ Hooker. He takes the place of Georg Chmiel.
He has signalled the evaluation and development of its online offerings as his major challenge.
LJ Hooker is a franchise network of more than 700 offices across the Asia-Pacific with more than 8000 employees.
Before Salmat, Harrod spent 13 years with business supplier Corporate Express Australia.
Greg Paramor, the chairman of LJ Hooker, announced the business services specialist yesterday.
Mr Harrod had been CEO and Managing Director of ASX-listed Salmat Pty Ltd (2009 to 2013) and CEO and Managing Director of Corporate Express Australia Ltd (2001 to late 2008). 
“We’re impressed with Grant’s comprehension of the changing real estate marketplace, and his vision for LJ Hooker aligns with our current network growth and market innovations."
Georg Chmiel remains a non-executive board member of LJ Hooker, the iconic Australian company which was founded in 1928.
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Grant Harrod appointed LJ Hooker boss

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The Real Estate Institute of Western Australia has assisted in the introduction of new codes of conduct for real estate agents, sales representatives, settlement agents and land valuers which support industry best practice and provide consumer protection.
REIWA president Hayden Groves thanked the Minister for Commerce, the Hon. Michael Mischin MLC, and the Department of Commerce for carrying out a detailed consultation process and working closely with the institute to develop the new codes.
“We congratulate Minister Mischin for working closely with REIWA and other industry stakeholders to ensure the codes benefit all those involved with buying, selling or leasing property,” Groves said.
“It’s important that there are measures in place to ensure the industry maintains high standards of practice and service.”
The Code of Conduct for Agents and Sales Representatives 2016 comes into effect this month with a two month transition period.
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REIWA recognises new codes of conduct for WA property

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NSW Fair Trading has recently prosecuted a former real estate agent for misappropriation of trust funds in relation to a property development in Narwee.
Alan Temelkov was convicted of 7 offences under the Property Stock and Business Agents Act and sentenced to 18 months imprisonment, to be served in the community. He was also ordered to pay over $235,000 in reparation for his offences.
In September 2012, Mr Temelkov, director of Tyron Holdings Pty Ltd, trading as AMJ Properties, was contracted to manage the sale of a number of units in a Narwee development.
Tyron Holdings Pty Ltd received a number of house deposits which should have been deposited into a trust account and held on behalf of the sellers until completion of the sale.
During Fair Trading’s investigation, Mr Temelkov admitted to his failure to deposit the funds in the trust account, instead spending the money on business expenses and his personal gambling habit.
As a result, the sellers were left significantly out of pocket and were required to make application to the Property Services Compensation fund for restitution.
Fair Trading Commissioner, Rod Stowe, advises that trust account fraud is a serious offence and warns that Fair Trading will actively pursue any persons that fail to comply with their trust account obligations. 
“Property is a significant purchase. Real estate agents should be trusted to deposit payments received for sales into the correct account,” Mr Stowe said.
Mr Temelkov was sentenced on Thursday 8 September 2016 and has 28 days to appeal. 
 
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Alan Temelkov convicted after Narwee trust fund misappropriation

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The McGrath Group has lost another senior estate agent with Steven Chen departing the listed estate agency.
The McGrath veteran Steven Chen's departure was announced internally on Monday.
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<div class="column left">
He has been the director of its besieged project marketing division. His most recent annual sales tally was $168 million, with a $1.2 million average sale price.
His career spanned over 19 years with the McGrath Group. He was a board member in 2011-12.
"I have to announce the resignation of Steven Chen as director of project marketing, from McGrath Limited," the newly installed McGrath Group chief, Cameron Judson advised staff Monday afternoon.
It followed the departure of the director of sales Matt Lahood.
"Both Matt and Steven have had a long and important history with McGrath. Since joining our business they have built and established lifelong friendships within the McGrath family and both will be greatly missed. Their commitment, contribution and dedication to the success of the McGrath brand, its people and business is immeasurable.They each continue to be shareholders in McGrath, with individual holdings in excess of 2% of the company," 
Chen boasted he had personally transacted in excess of $2.5 billion in projects and residential sales.
Establishing the McGrath Projects division, Steven lead a team of over 60 agents and support staff in Sydney, Brisbane &amp; Gold Coast.
He also directed a specialist team of 20 experienced Chinese agents catering for the local and international Asian market, selling Australian property in Hong Kong, Shanghai, Beijing, Xiamen, Guangzhou and Wuhan-China. 
His division attracted blame in April when the listed real estate group announced a profit downgrade, and lowered its dividend target following a revision to forecast volumes and sales.
Postponed project launches by the project division was one of the reason for the revenue decline.
Last week McGrath lost its Millers Point specialist, Richard Shalhoub, who was also involved in the sale of the former CEO John McGrath's personal portfolio of harbourfront apartments through the years.
In 2014-2015 he sold $92 million worth of property and in 2015-2016 he sold around $117 million, at a $2.5 million average.
Lahood, Chen and Shalhoub have worked a combined 50 plus years in real estate.
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Steven Chen follows Lahood and Shalhoub out the door at McGrath Group

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McGrath Limited has lost its head of sales, Matt Lahood, it announced to the stockmarket on Monday.
It announced the appointment of Kon Stathopoulos into the role.
The company shares slipped to $1.13 today, still well down on its $2.10 float price last December.
Lahood, who declined to respond to Property Observer's query last Thursday on the then rumoured departure, has been with the McGrath business since 1997. He was director of sales for 12 years.
The besieged group acknowledged he had been pivotal in driving the growth of company owned sales, and then leading the sales team through the turbulent period involving the recent listing on the ASX.
McGrath founder John McGrath said Matt has had a long and important history with the business.
Kon Stathopoulos has been with McGrath since the beginning of 2014, currently as McGrath’s general manager of sales, NSW.
Before joining McGrath he was with Neopost, the mailroom digital communications and logistics solutions company.
The new McGrath’s chief executive officer, Cameron Judson said he was looking forward to the "next exciting phase for McGrath.” 
Lahood's company profile advised he was a trusted mentor to a team of 300 inspired sales professionals, adding Matt Lahood had been "a driving force behind McGrath’s continued success in a competitive property industry."
"He is an esteemed real estate expert among colleagues and carries a multi-generational client base where he combines a wealth of experience acquired over 22 years in property sales with a clear passion for helping to generate a personal success for those whom he meets along the way."
Judson in the internal notification advised other staff that Lahood retained his shareholding.
Founded in 1988 by John McGrath, McGrath has been established as one of the leading residential real estate service providers in Australia with a strong market presence in NSW and the ACT, a growing presence in Queensland and entered the Victorian market at the end of 2015.
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