Lifestyle Communities mulls appeal as residents win VCAT case

The news: Property developer Lifestyle Communities said it is "disappointed" with the decision by Victorian Civil and Administrative Tribunal (VCAT) president Ted Woodward who found that "certain agreements" made by the company with residents at two of its Melbourne housing estates should be declared void.

The context: Lifestyle Communities said it is considering a number of options, including an appeal against the VCAT judgement.

The company has requested to remain in a trading halt until later today, when it will release an update to the market after receiving and considering further legal advice.

The VCAT decision comes after residents accused the Lifestyle Communities of unethical conduct last year. Homeowners lodged claims over fees they believed were excessive and in breach of the law.