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Berwick is one of Melbourne’s most popular suburbs but if it’s out of your price range you could consider travelling just 12 kilometres down the road to Cranbourne North where the average house price is 26% cheaper.
Westpac has compiled a list of ten Melbourne suburbs where it’s cheaper to buy than in their more popular neighbouring suburbs.
<img height="200" width="470" src="/images/stories/2013/08/melbourne_house_aug_27_one.jpg" alt="melbourne_house_aug_27_one">
The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price.
“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” said Westpac’s Gai McGrath.
Cremorne, nestled between Richmond and the Yarra is presented as a more affordable alternative to South Yarra. House prices there are 29.8% cheaper. Though if you’re looking at units Burnley is a better option with a saving of 26.7%.
And Ripponlea house prices are 57.5% cheaper than in Brighton. Gardenvale units are 49.3% cheaper than Brighton units.
<img height="195" width="470" src="/images/stories/2013/08/melbourne_units_aug_27_one.jpg" alt="melbourne_units_aug_27_one">
If you wanted to buy a unit in the fourth most popular suburb in Melbourne, Toorak, you could consider travelling just three kilometres down the road to Armadale where the average unit price is 33% cheaper. According to Westpac you could own your home 17 years and one month sooner and save $247,681 in purchase price and $225,613 in interest repayments over time.
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Melbourne's 10 hidden gem suburbs cheaper than their more popular pricier neighbours 

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Sol Kerzner, a billionaire South African hotelier, is reportedly buying Hayman Island in the Whitsundays from Malaysian investment firm Mulpha Australia Ltd.
The Australian Financial Review reports executives from Kerzner International are meeting with top federal and state tourism bureaucrats and senior figures from the Queensland government.
No price has been disclosed for the 292 hectare leasehold holding, but its most recent official conservative book value was $A50 million, at the same time as announcing a $50 million refurbishment program to elevate the resort into a new benchmark of luxury.
Neighbouring Hamilton Island sold in 2003 for $185 million to Bob Oatley who has since been developing the island.
Kerzner will reportedly close the existing resort on the island for three months from January next year as he further renovates the property.
The island was first developed by airline magnate Reg Ansett in the 1950s.
Kerzner runs the luxury hotel chain One&amp;Only, the Atlantis resort on the Palm in Dubai and has properties in The Bahamas, Mexico, Mauritius and The Maldives.
Mulpha bought the island resort in 2004 along with the Sydney Intercontinental, the Melbourne Hilton and Brisbane Sheraton for a combined $400 million total. 
The 78-year old Sol Kerzner was knighted in 2010.
Mulpha's Australian property portfolio is worth around $1 billion with assets including Sanctuary Cove which was acquired in 2002 for $208 million.
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Sol Kerzner rumoured buyer of Hayman Island in Whitsundays

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Almost every off-the-plan purchase in the Oracle development in Surfers Paradise has lost money when resold.
Property Observer has found 42 instances where a unit in the 505-unit tower sold at a loss.
There were just five instances where a property has resold at a higher price than the previous sale.
There was one which resold for the same price.
The worst case was unit 2205 which originally sold for $2.435 million 2012 and resold six months later for $1.675 million – a loss of $760,000.
Unit 2305 originally sold for $2.465 million in 2006 and then resold six years later for $1.725 million – a loss of $740,000.
Unit 3401 originally sold for 1.81 million in 2006 and resold for $1.3 million in 2012 – a $510,000 loss.
And recent speculators have lost money too. Unit 23202 originally sold for $1.9 million in July 2012 and then resold for $1.3 million in February this year – a $600,000 loss.
But some did make money in the building. Unit 906 originally sold for $655,000 in 2006 and then for $405,000 in 2011. But it then sold again for $512,500 in 2012 – $107,000 more.
According to Colliers, high rise stock in the Gold Coast is at its lowest level in a decade with a recent surge of people buying into developments like Oracle.
“Over the past year projects that had a significant overhang of stock, such as Oracle, Hilton and Soul have sold a significant number of apartments and people are buying into those buildings with confidence,” Colliers’ Tony Holland said.
“They know the future looks good for the Gold Coast, with around 10,000 people moving to the region every year and significant projects such as the 2018 Commonwealth Games set to give the area a huge boost.”
There were 13 sales in the two Oracle towers over the June quarter. Tower one is reportedly 80% sold out, and tower two is 75%.
During 2012 units were being sold by the receivers at half their 2005 off-the-plan asking price.
One-bedroom units on the ground floor sold for $460,000 in 2012 – less than half the original asking price.
KordaMentha, the receivers of the troubled project took over from the Nikiforides-run South Sky Investments in December 2010.
They reportedly sold more than 100 during 2012, a third of those to Queenslanders, after relaunching Oracle at the end of 2011.
The results are similar to the Hilton Surfers Paradise development where <a href="https://www.propertyobserver.com.au/queensland/hilton-surfers-paradise-resale-price-collapse-for-but-one-exiting-property-investor/2013082164115">40 of 41 apartments in the ill-fated development, resold  at big losses.</a>
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Poor fortune for those who went to the Oracle on the Gold Coast

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1. Offering vendor financing
It is possible to sell to buyers with poor credit ratings by selling the property under contract to settle at a higher price at a predetermined future time. In the meantime the buyer lives and pays a sort of rent which works out to the loan repayment plus a bit more. Then when they settle the buyer purchases it at a price which is hopefully below the market value ensuring it’s easier to get a loan. Be careful with this though, people interested in buying this way have been determined by banks as being a liability for a reason, there are few reasons to ignore that assessment.
2. Running a self managed super fund
Running a self-managed super fund is a great idea if you’re absolutely ready to commit a lot of time and research into investment. A lot of people have lost their valuable nest egg through poor strategies and poorly executed ideas. Plus you can't live in a property owned by your super fund and you can't rent one from it either.
3. Taking bridging loans
It might seem like a no-brainer, taking a temporary interest-only loan on a new property before you’ve sold your old one but you risk defaulting on your loan if you can’t sell your old property.
4. Being a guarantor for a family member
Agreeing to guarantee a loan for a family member could mean the bank chasing you if they default. This might mean losing your house. It’s hard to say no, but a better option might be to pony up some cash so they can afford a bigger deposit or buying the property yourself and transferring it when the payments are more manageable.
5. Cross collateralising
Using multiple properties as collateral for one loan might be tempting but lenders can then reduce your borrowing capacity if they apply their own credit criteria to your income position to assess serviceability.  They could force you to sell your properties to reduce your debts if your property falls in value. You might be better off buying in a joint venture.
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Five investment finance strategies fraught with risk

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Former senator Barnaby Joyce, now the Nationals' candidate for New England, is to sell his rural acreage in north-western NSW to avoid a conflict of interests.
He acquired his Gwabegar property in 2006 for $230,000 in what he said was a cheap way to get back into the land after a career in politics. He acquired the neighbouring lot in 2008 for $342,000, bringing the total holding to 970 hectares.
But the presence of coal seam gas in the area sparked a conflict of interests for Joyce who must strike a balance between anti coal seam gas farmers in his electorate and the mining interests of the coalition.
The marginal grazing land is close to coal seam gas exploration fields in the Pilliga.
Eastern Star gas started exploration there in 2002 and has plans for 1100 gas wells, according to The Sydney Morning Herald.
In October 2007, Eastern Star Gas appointed former Nationals leader and deputy prime minister John Anderson as its chairman – the same man who is now working as campaign manager for Joyce.
But in 2011 Joyce denied knowing the company had a petroleum exploration licence over his properties.
Joyce told The Sydney Morning Herald he wants no part in the boom.
“I'm happy to sell it, it's for sale,” he said.
“If someone wants to take it off my hands and make a million dollars, go right ahead.”
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Barnaby Joyce to sell coal seam gas property

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New South Wales was home to nine of the 10 worst-performing postcodes for mortgage delinquencies over the June quarter, according to ratings agency Standard &amp; Poors.
Postcode 2315 in Port Stephens  – also home to Corlette, Fingal Bay, Gan Gan, Nelson Bay and Shoal Bay – had the highest delinquency rate on mortgages in the June quarter, according to the report, RMBS Performance Watch: Australia.
<table cellpadding="0" cellspacing="0" border="0" style="border: 0px solid #1a87e4; width: 470px;"><tbody>
<tr>
<td nowrap width="64" valign="bottom">
State
</td>
<td nowrap width="104" valign="bottom">
Suburb
</td>
<td nowrap width="64" valign="bottom">
Postcode
</td>
<td nowrap width="105" valign="bottom">
Loans in arrears
</td>
<td nowrap width="64" valign="bottom">
Loan count
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Corlette
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2315
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
7.12%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
371
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Berkshire Park
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2765
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
7.02%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
298
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Casuarina
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2487
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
6.77%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
313
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Eagle Vale
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2558
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.69%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
506
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Aberdare
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2325
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.28%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
602
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Blackwall
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2256
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.03%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
438
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Eastern Creek
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2766
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
4.00%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
474
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Annangrove
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2156
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
3.87%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
314
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
VIC
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Broadmeadows
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
3047
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
3.80%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
453
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
NSW
</td>
<td nowrap width="104" valign="bottom" style="text-align: justify;">
Alpine
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
2575
</td>
<td nowrap width="105" valign="bottom" style="text-align: justify;">
3.75%
</td>
<td nowrap width="64" valign="bottom" style="text-align: justify;">
455
</td>
</tr>
</tbody></table>
Its rate of mortgage delinquencies more than 30 days overdue was 7.12% - more than five times the national average of 1.29%. That means roughly one in 14 mortgages are overdue in the postcode.
The area has historically featured strongly on the list of most mortgage delinquent suburbs.
In 2012 the area was identified by Fitch Ratings as being the most mortgage delinquent suburb though agents at the time blamed it on <a href="/news">starry eyed holiday makers</a> making poor investment choices.
It remained at the top of Fitch’s list <a href="https://www.propertyobserver.com.au/residential/nelson-bay-retains-most-delinquent-postcode-crown-but-surfers-paradise-drops-down-list-fitch/2013070162882">this year</a> as well.
The other eight NSW postcodes are a mixture of coastal areas and suburbs on the outskirts of Sydney.
Broadmeadows in Victoria came in at number nine.
Overall arrears declined from the previous quarter.
“The quarter-on-quarter decline may be attributed to the impact of lower interest rates and seasonal factors such as Christmas spending commonly associated with the Q1 arrears performance,” the report says.
Tasmania continued to record the highest level of mortgage arrears.
During quarter two, loans greater than 30 days in arrears in totalled 1.68% in Tasmania, 1.48% in New South Wales and 1.4% in Queensland.
The data is from residential mortgage-backed securities (RMBS) which are a means for lenders to raise funds by selling bundles of loans to investors. It involves a high proportion of non-bank originators and financial institutions and subprime and low-doc lenders.  
{yoogallery src=[images/stories/2013/08/aug26nel]}
The most recent mortgagee sale in postcode 2315 is a two bedroom unit at <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-nelson+bay-114171971">42/1A Tomaree Street Nelson Bay</a> (pictured above). After a 601 day marketing campaign which started at $355,000, it sold for $205,000 through Rebecca Dean from PRDnationwide.
The one bedroom unit at <a rel="listingName" href="https://www.realestate.com.au/property-unit-vic-dallas-114532887">4/18 King Street, Dallas, Vic 3047</a> (pictured below) is listed for mortgagee auction in the Broadmeadows postcode.
{yoogallery src=[images/stories/2013/08/aug26broad2]}
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NSW home to nine of 10 most mortgage delinquent postcodes

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First home buyers are delaying buying their first home, according to a survey by RAMS.
Just one in eight respondents to the First Home Buyers’ Pulse Check are seeking to purchase their first home or an investment property within the next three months even though three out of four agree it's a good time to buy.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/08/RAMS-aug-27-big.gif" rel="shadowbox"><img src="/images/stories/2013/08/RAMS-aug-27-small.gif"></a>
“Today results show more than 75% respondents believe now is a great time to buy with the majority of respondents increasingly motivated to enter the property market to stop paying rent, take advantage of the current low fixed and variable interest rates,” RAMS’ Sulicich said.
“However, now it appears first home buyers are more cautious, taking a ‘wait and see approach’ to purchasing. Many first home buyer respondents still feel buying a home is out of reach due to challenges of saving for a home loan deposit and finding a home in the right location. Results also indicate a fear of unemployment, uncertainty around future earnings and a lack of housing supply are key concerns for this market,” he said.
The typical first home buyer has changed somewhat.
Survey results found a third of first home buyers are now more likely to be aged over 36, have a household income between $50 000 - $100,000 and 72% live in capital cities.
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First-home buyers delaying purchase: RAMS 

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The Gold Coast looks to be on the verge of a recovery, according to Australian Property Monitors' latest housing market report.
"The Gold Coast market is showing positive signs of reactivation, following a lengthy period of subdued buyer activity," the report says.
"Although the median house price fell marginally by 0.3% over the June quarter, house prices have risen by 2.1% over the first half of 2013, and are up by 3.2% over the full year ending June."
 
<img height="322" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-15.gif" alt="apm-aug-26-chart-15">
 
 
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Gold Coast shows positive signs: APM

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Perth's median house price rose 3.2% over the June quarter - the greatest quarterly rise since December 2009, according to Australian Property Monitors.
Perth’s house prices have increased 7.5% over the 2013 financial year – the strongest performance of any capital city housing market, according to APM's latest housing market report.
"Perth’s median house price has now risen for 6 consecutive quarters, and is now at an all-time high of $584,487," the report says.
"The strength of the Western Australian economy is a key driver of the Perth housing market, evidenced by the lowest unemployment rate of any state, at 4.6 percent in July"
 
<img height="347" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-7.gif" alt="apm-aug-26-chart-7">
 
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Perth house prices rise 3.2% over quarter - most since 2009

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There are signs of increased buyer activity in the subdued Adelaide housing market, according to APM's latest housing market report.
"Latest ABS home loan data for South Australia reports seasonally adjusted owner occupied loans up by 8.7% over the first half of 2013 compared to the same period last year," the report says.
"Adelaide median house prices have started to rise again, up by 0.8% over the June quarter, for an increase of 0.9 percent over the 2013 financial year.
<img alt="apm-aug-26-chart-4" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-4.gif" width="470" height="348">
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"The performance of the local economy however remains a concern, with the July unemployment rate for South Australia rising steeply to 7.1% - the highest of all the mainland states."
 
<img height="360" width="470" src="/images/stories/2013/08/aug27apm/apm-aug-26-chart-3.gif" alt="apm-aug-26-chart-3">
 
 
 
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Adelaide shows signs of increased activity: APM

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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Alistair Walsh

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