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The number of new house listings in Sydney has dropped 9.3% over the last 12 months, according to RP Data.
There were 6,757 new listings in the last 12 months bringing the total number of listings to 28,484 - down 9.8% over the year.
Meanwhile, in Melbourne, new listings are up 5.3% over the year, with 8,219 additions. Total listings are up 9.2% over the year to 39,985 - the highest for any capital city.
In Darwin new listings increased 16% to 319 listings - the biggest increase for all the capital cities.
The total number of listings in Brisbane has dropped 14% over the last 12 months, with 9.2% fewer new listings this year.
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A new listing is one which has not been advertised for sale over the past 6 months. Total listings include new listings and properties which have been previously advertised.
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awalsh-7Ub9EypybQ

New listings in Sydney drop 9.3% over the year: RP Data

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Lenders have been offering a variety of incentives to borrowers as interest rate fluctuations focus peoples’ attention on whether to switch lenders.
Queensland-based lender Firstmac is offering a <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CFoQFjAA&amp;url=https%3A%2F%2Fwww.firstmac.com.au%2Fhome-loans%2Fbroncos-home-loan&amp;ei=9zOLUfS8DqaaiQe4jICQCw&amp;usg=AFQjCNFV8RKLurkXwDrbzxpbpXHwZln7_g&amp;sig2=IVQCiUEhfuJrLKutHWSLMw&amp;bvm=bv.46226182,d.aGc">three-year family membership to Brisbane Broncos </a>rugby league team on its 5.21% (5.26% comparison rate) Broncos loan.
<img alt="broncosmay10one" height="245" width="470" src="/images/stories/2013/05/broncosmay10one.jpg">
The Broncos last won a premiership in 2006.
Loans.com.au is offering a <a target="_blank" href="https://www.loans.com.au/our-loans/blackboard-special">special rate of 4.75%</a> (4.77% comparison rate) for home owners looking to refinance before May 20.
<img alt="loansmay10one" height="221" width="470" src="/images/stories/2013/05/loansmay10one.jpg">
RAMS is offering refinancers <a target="_blank" href="https://bs.serving-sys.com/BurstingPipe/adServer.bs?cn=tf&amp;c=20&amp;mc=click&amp;pli=7012332&amp;PluID=0&amp;ord=%5Btimestamp%5D%20">$1000 in cash</a> if they choose any RAMS loan for those applying before the end of May.
The Bank of Melbourne is offering those who switch <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CFoQFjAA&amp;url=http%3A%2F%2Fwww.bankofmelbourne.com.au%2Fpersonal%2Fhome-loans%2Fswitch-offer%3Fpid%3Dweb%3Ahome-cfeature-hloffer-mar13&amp;ei=DjSLUeHjIeTwiAek74GACQ&amp;usg=AFQjCNGzd4h44K3hyV96hBs3P3L3c19lCQ&amp;sig2=RMlSSU1qqWTq6hWNAWFmDA&amp;bvm=bv.46226182,d.aGc">$700 in cash</a> for those applying before the end of July.
<img alt="bankofmelbournemay10one" height="237" width="470" src="/images/stories/2013/05/bankofmelbournemay10one.jpg">
Mozo has brought back its <a target="_blank" href="https://mozo.com.au/mystery-bank-deal">mystery bank deal</a> and is offering switchers 5.33% (5.35% comparison rate).
UBank is offering a <a target="_blank" href="https://www.ubank.com.au/ubank/web/products/home-loan/refinance/refinancing-overview?_afrLoop=124791503534000&amp;_afrWindowMode=0&amp;_afrWindowId=null#%40%3F_afrWindowId%3Dnull%26_afrLoop%3D124791503534000%26_afrWindowMode%3D0%26_adf.ctrl-state%3D1dh8n5adaw_9">0.25% per annum upfront discount</a> offer for a limited time with a variable rate of 4.87%.
And Coastline Credit Union is offering switchers <a target="_blank" href="https://www.coastline.com.au/Personal-Banking/Publications/News/Art56.php">$750 in cash</a> to switch over to their offering.
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Lenders offer varied incentives to attract loan switchers

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Sydney corporate law firm Gilbert and Tobin have signed a memorandum of understanding with Lend Lease to take 9,500 square metres of space in International Towers Sydney at Barangaroo South.
It will take the four stories above Westpac, in the second of three towers at the development.
Lend Lease says the memorandum shows the confidence banking, financial services and legal organisations have in the development.
The understanding now means more than 80% of tower two’s space is leased.
It is the first legal tenant to enter the $6 billion development.
Westpac and KPMG were named in June last year as the first confirmed tenants in the foreshore development. Lend Lease will also will taking up space.
The latest leasing agreement means Lend Lease can continue on with the third tower as financial backers required pre-leasing to hit 85% before undertaking further rental negotiations on the third tower.
The Australian Financial Review reports that the leasing deal is worth up to $9 million per year.
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Sydney law firm Gilbert and Tobin to move to Barangaroo South

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As part of its plan to develop Point Nepean National Park, the Victorian government is seeking expressions of interest from leasehold operators of it heritage listed quarantine station.
The government is hoping to turn the 17-hectare site, on the western tip of the Mornington Peninsula, into a vibrant tourist destination.
The site is the second oldest intact quarantine station in Australia, established in 1852.
<img src="/images/stories/2013/05/quarantinemay9one.jpg" width="470" height="279" alt="quarantinemay9one">
It was designed to defend the Colony of Victoria against disease and foreign attack.
A 2006 archaeological report said that by 1860, the Melbourne station was the largest and best appointed quarantine ground in Australia.
{yoogallery src=[images/stories/2013/05/may9quarantine]}
It was first built to accommodate the rush of immigrants following the discovery of gold in Victoria in 1851.
The site was developed following the tragic arrival of Ticonderga, a ship that sailed from Birkenhead England but was overrun with yellow fever during its 80-day journey.
<img src="/images/stories/2013/05/quarantinemay9seven.jpg" width="470" height="351" alt="quarantinemay9seven">
According to reports at the time, 100 people of the 795 passengers onboard died and there was not enough room to house all the survivors within the station and many died in tents surrounding it. Others, lured by gold escaped the confines.
Fears of small pox and other diseases meant subsequent arrivals to Victoria were impounded in the station until medical professionals deemed them fit to be released.
It was last used as a quarantine camp in 1954 when 113 army members onboard the Strathaird, were quarantined with smallpox.
It was officially closed in 1978.
<img src="/images/stories/2013/05/quarantinemay9six.jpg" width="470" height="320" alt="quarantinemay9six">
In 1952 a military training camp and army cadet school was established with the accommodation built remaining today. It
In 2005 it was reported there were plants to convert Point Nepean into a marine educational school.
The state government has suggested options including accommodation, restaurants, education uses.
The older buildings will likely be protected while those dating from the 1960s will likely be demolished. Parts of the site are falling into disrepair.
A government report recently recommended sensible and sensitive developments in national parks to unlock Victorian tourism.
It is nearby to a memorial to Prime Minister Harold Holt, who went missing in 1967.
A $13.8 million program to upgrade roads, car parks and infrastructure at Point Nepean is nearing completion.
The government is going through a tender process to select a tenant.
The lease is being marketed by Jones Lang LaSalle agents Matthew George and Peter Harper.
Images courtesy of the State Library of Victoria and the Point Nepean Community Trust.
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Point Nepean quarantine station available for leasehold tourism operators

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The new Stockland boss, Mark Steinert, has shaken up his executive team with the departure of his chief financial officer, Tim Foster, and his head of residential, Mark Hunter and hiring fresh blood.
Steinert has hired Simon Shakesheff, who will join the company in mid-August, in the new position of group executive strategy and stakeholder relations.
Foster will leave the company later this year when a replacement is found.
Shakesheff is an analyst who has advised property groups. Most recently he was managing director at Merrill Lynch’s real estate investment division.
“Having observed Stockland closely over my career, it is a privilege to now be joining the group at this significant time in its history. I look forward to contributing to its future success,” Shakesheff said.
Michael Rosmarin, currently the group executive will take up the role of chief operating officer.
Kingsley Andrew and Andrew Whitson will act as joint interim CEOs.
The move comes ahead of a strategic update on Monday anticipated to change the direction of the company.
Fairfax have reported Steinhert is likely to drop his predecessor’s three ‘r’ focus on residential, retail and retirement, in favour of a focus on medium density residential and retail.
Foster and Hunter were reportedly close allies of former CEO Matthew Quinn, who stood down in July last year following a poor run of earnings.
Goldman Sachs analyst Simon Wheatley says he is suprised by the shake-up.
"In our view, the timing of today's announcement is a surprise in that SGP is poised to provide its 3QFY13 update next Monday, and this is meaningful change amongst senior executives ahead of the update.
"That said, we believe the changes being implemented by the SGP CEO Mark Steinert are a core part of a restructuring of the business, since transitioning into his new role late in November 2012," Wheatley said.

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Stockland executive team shake-up as Tim Foster and Mark Hunter departing

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Sydney house prices have increased more than any other capital city so far this year, rising 2.9% in the year to date, according to RP Data.
It was closely followed by Melbourne at 2.5% so far this year.
Over the last 12 months Perth has increased the most, at 4.8%, but a drop of 1.8% in the last month has put the year to date growth at 2.8%.
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Sydney house price growth greater than other cities this year: RP Data

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Mirvac could pull forward sales and construction at its Harold Park project in Glebe after strong sales from the first two releases, according to a Goldman Sachs report.
Analyst Simon Wheatley’s report on Harold Park says stage 3 could be released ahead of timetable after pre-sales on stage one and two were strong with sales prices “potentially slightly ahead of feasibility”.
The report says around 90% of stage one is sold and 70% of stage two with recent sales numbers accelerating.
<img alt="haroldparkmay8one" height="264" width="470" src="/images/stories/2013/05/haroldparkmay8one.jpg">
“Consequently, we believe that the release of stage 3 could be fast-tracked and may be brought to the market imminently,” Wheatley says.
He says pulling the project forward could result in a plateau in earnings for Mirvac after project completion but they are willing to take the risk because “the ducks are quacking”.
“Demand is strong at Harold Park currently and the release will be timed to meet this demand,” Wheatley says.
<img alt="haroldparkmay8two" height="261" width="470" src="/images/stories/2013/05/haroldparkmay8two.jpg">
He says Mirvac are worried if they don’t pull the project forward they might be left with excess stock if the property market suddenly weakens.
Given the success of the Harold Park and Chatswood Era projects, Wheatley says Mirvac’s profits will likely be higher than previously anticipated.
Wheatley says Mirvac hope to achieve an earnings before interest and taxes figure on the project of more than $200 million.
He puts the total end value of the project, which he was given a tour of by Mirvac, at $1.2 billion.
In March more than 300 people attended the weekend launch of the project in Glebe.
One-bedroom apartments started at $525,000.
<img alt="haroldparkmay8three" height="277" width="470" src="/images/stories/2013/05/haroldparkmay8three.jpg">
There were 27 one-bedders on offer ranging from 50 square metres to 75 square metres; 33 two-bedders (75 to 100 square metres) from $830,000; five three-bedders (105 to 125 square metres) from $1,325,000 and nine three-bed terraces (165 to 180-square metres) from $1.74 million.
The priciest offerings were $1.895 million four-bedroom terraces.
Mirvac is transforming the former Harold Park Paceway into a $1 billion-plus infill housing development.
The Harold Park master plan allows for 1,250 dwellings with a 208,000 square metre network of landscaped parks.
<img src="/images/stories/2013/05/haroldparkmay8four.jpg" width="470" height="161" alt="haroldparkmay8four">
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Mirvac to pull forward Harold Park project sales and construction: Goldman Sachs

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A new voodoo-themed bar is set to launch in a vacant laneway car park in Sydney.
The proprietors of the planned <a target="_blank" href="https://www.hanzic.com.au/103491/972739/home/papa-gedes-bar-sydney-branding-and-typography">Papa Gede bar</a>, have secured a five year lease for a lower ground floor car-park at 207 Clarence Street.
<img height="539" width="400" src="/images/stories/2013/05/papagedemay6one.jpg" alt="papagedemay6one">
The space - located on the lower ground 139 square metre site area - was formerly used by the office tenants to park four cars with storage space and bathing facilities.
<img height="534" width="400" src="/images/stories/2013/05/papagedemay6two.jpg" alt="papagedemay6two">
The leasing agent, John Skufris from <a target="_blank" href="https://www.raywhite.net/?p=7344">Ray White</a>, says the tenants have either started taking public transport or have found other parking.
“The city’s western corridor has proven extremely popular for small bar operators, particularly the precinct bounded by Market, Erskine, George and Kent streets,” Skufris says.
“We received more enquiries for the lower ground floor of 207 Clarence Street from small bar operators than traditional car parking requirements.
“We also received enquiries from prospects including gym, bicycle and wellbeing groups partly due to the availability of weekend building access.”
According to branding of the bar designed by graphic designer Steve Hanzic, drinks will include 'corpse reviver #2', 'death in the afternoon' and 'hangman’s blood'.
<img height="408" width="470" src="/images/stories/2013/05/papagedemay6five.jpg" alt="papagedemay6five">
The building, known as CBD House, has four levels plus a basement area located between King and Market streets. The 109 square metre top floor is up for lease through Ray White.
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Voodoo bar to animate former Clarence Street, Sydney car parking space

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It has only been a week since the Victorian government announced a June 30 deadline on changes to the first-home owner scheme grants but agents have already noticed an uptick in interest on established homes across Victoria.
It's forecast this interest could translate closer to a "mad rush" of buying closer to the deadline.
The Barry Plant Preston office says auctions have performed better after the announcement that the grant would be removed for established homes.
Melbourne buyers agent Frank Valentic suggests the rush is set to come.
The state government last week announced it would remove the first-home owners grant of $7000 on existing homes but would increase the grant to $10,000 for new homes prompting commentators to predict an unhealthy rush to buy established homes.
There will still be a stamp duty discount for all home buyers though, increasing from 30% to 40%.
Barry Plant Preston sold <a target="_blank" href="https://www.realestate.com.au/property-house-vic-preston-113356691">85 Albert Street</a> (pictured below) for $391,000 – well above the pre-auction price guide of $300,000 to $330,000 on the weekend.
<img height="347" width="470" src="/images/stories/2013/05/fhbmay7one.jpg" alt="fhbmay7one">
There were five to six bidders at the auction with agents suggesting buyers were motivated by the first-home owners grant deadline.
Barry Plant last week issued first quarter results showing sales volumes were up 13.8%.
 
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The group says the results are even better than they look as they lost almost an entire week of sales volume due to Easter this year which would normally have put them down 20% rather up 13.8%.
"We are not back in boom-times and in fact we are still travelling below the 2010 figures, however our results are proof that if agents are prepared to work hard they can achieve great results for our clients,” says CEO Mike McCarthy.
"Across the group we have reported an increase in people attending open for inspections, bidding at auction and increased page views on our web advertising, so there are definitely more buyers out there."
Buyers agent Frank Valentic from Advantage Property Consulting says he has had more inquiries from first-home buyers since the announcement.
“We’ve noticed a pick-up in inquiry and at inspections there are more first home buyers. Its already happening. It’s just now seven weeks now,” Valentic told Property Observer.
“People are getting in before the mad rush.”
A two-bedroom unit at <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/VIC/Richmond/?adid=2010398473">4/31 Mary Street</a> (pictured below) sold for $483,000 after being marketed at $380,000 to $420,000.
<img height="302" width="470" src="/images/stories/2013/05/fhbmay7two.jpg" alt="fhbmay7two">
Valentic says there were five to six bidders at the auction who were mostly first-home buyers.
He warns buyers that while they might capture the $7000 grant before it ends, they shouldn’t get emotional and bid above the value of the house.
“It’s the same as what we saw in 2010 with the last deadline. My advice to first-home buyers is to do your research,” Valentic says.
And there have been big jumps in the median price of houses and units in the cheapest two precincts in Melbourne, according to Australian Property Monitors data.
The median price for units in the north precinct increased from $438,000 last week to $472,500 this week.
And the median price for houses in the west precinct increased from $557,500 last week to $587,000 this week.
 
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Victorian first-home buyer uptick in one week since FHOG deadline announcement

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The Housing Industry Association has ramped up its pre-budget campaign saying high taxes, fees and levies make homes unaffordable as the building industry contracts.
It posted a half page ad (pictured below) in The Australian saying Australia is facing a housing shortage as the less homes are built due to costs being too high.
<img height="640" width="470" src="/images/stories/2013/05/hiaonemay6one.jpg" alt="hiaonemay6one">
The website for its Australia Needs Building campaign says “taxes are the single biggest issue Australians faced when it comes to house affordability.”
The campaign says 150,000 families will miss out on a new home by 2020. It says the industry will build 25,000 fewer homes this year than it did 10 years ago.
Director Shane Goodwin said last week the home building industry needs more support from governments.
“Governments can’t ignore housing any longer. They need to act more constructively, cooperatively and determinedly to meet the housing needs of Australians and their families,” Goodwin said.
“With 2013 being an election year, it is essential that all parties embrace policies that will improve housing affordability and cut through the red and green tape that is strangling new housing development.”
He has yet to suggest what the HIA wants but its campaign details the taxes and levies faced by home-builders in each state.
“Taxes, levies, fees and charges account for 40% of the cost of building a new home. In some housing markets it’s even higher,” its campaign says.
“Tax on new homes in Sydney is 44% of the purchase price, 38% in Melbourne, 36% in Brisbane and 41% in Perth, in Adelaide its 39%.
“This means households will pay an extra $670 per month for the life of a loan, which is the equivalent raising the interest rate on the loan by 5.5%.”
The HIA will further its campaign on May 9, releasing 50 action strategies for housing. 
Shane Goodwin, the managing director is the key note speaker at Thursday's launch.
"We will be releasing 50 policies that run across the economy, taxation, industrial relations and small business red tape," the HIA advised.
The federal budget is announced on Tuesday May 14.
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HIA has 50 action ideas to invigorate the housing industry

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."

[smartcode_project:default project_id=1979 project_image_fid=363228]

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."

[smartcode_project_cta:default project_id=1979]

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.

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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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