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John Symond, founder of Aussie Home Loans, said rate cuts by the Reserve Bank of Australia are not working as well as they have in previous years.
He says despite interest rate cuts being a boon for buyers, they are indicative of poor conditions.
“It’s all been negative... We’re going to be in a hole. We’re going to be in debt for many years to come,” Symond told 2GB’s Ross Greenwood last week.
The Reserve Bank of Australia has said the rate cuts are giving a much needed boost to the housing sector but Symond says the recovery isn’t strong enough.
“We’ve seen a slight uptick for the past four to five months but there’s certainly nowhere near the speed of recovery that we’ve seen following interest rates cuts before,” Symond said on Money News.
“It’s still very negative. They’re still very cautious and rightly so. There’s not working yet but the market is better than what it was 12 months ago.
“People are cautious and whether it’s buying homes or people go out shopping, confidence drives people’s spending. And right now, it’s marginally better than what it has been but still nowhere near the level that the economy needs.”
And he said valuers are making it difficult for home-buyers, especially first-home-buyers to buy a property.
A disparity between bank assessments and buyer assessment means buyers are unable to secure loans for properties they want to build or buy.
“Valuers are still very cautious and that really does create a gap because if someone has a 10% deposit and the valuer knocks it down by $50,000 that might only be 5% but all of a sudden...they’re out of the game,”
“Even with existing properties it is still the biggest single problem that they all put their hand up is valuations, even on existing properties.
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Rate cuts not working well enough: Aussie John Symond

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Developer Harry Stamoulis wants to build a 404-metre office tower at 555 Collins Street in Melbourne.
If approved and built would be the tallest building in Australia – 16 metres taller than <a target="_blank" href="https://www.propertyobserver.com.au/victoria/tallest-building-in-southern-hemisphere-approved-for-melbourne/2013031759915">Australia 108</a> which was approved in March.
The 82-storey office tower (pictured below) still needs planning approval from state minister Matthew Guy, but he has already relaxed planning controls to allow the Stamoulis Property Group to apply.
Next week Melbourne City Council will debate a motion that notes with concern the recent decision of the Minister for Planning to remove the overshadowing protection afforded to the Yarra River since 1982.
<img height="264" width="470" src="/images/stories/2013/04/555collinsapril29flicker.jpg" alt="555collinsapril29flicker">
Stamoulis bought the site from the state government in 2002 for $40.7 million, Fairfax Media reported at the time.
The building, Enterprise House, is a 23-storey office tower, leased primarily to NAB. The bank holds the 23,700 square metre lease until the end of 2013. It renewed its lease in 2010.
<img height="260" width="470" src="/images/stories/2013/04/555collinsapril29one.jpg" alt="555collinsapril29one">
At the time Stamoulis said it planned to refurbish the building into “A-grade accommodation” in 2014.
Melbourne’s Lord Mayor, Robert Doyle, has slammed the proposal saying it will cast a shadow over the Yarra’s Southbank.
"I don't have a problem with tall buildings, but can't allow them here there and everywhere," Doyle told 3AW.
"We don't want Surfer's Paradise on the Yarra.”
The site used to be home to the Federal Hotel and Coffee Palace, built in 1880. It was one of the largest and ornate city buildings at the time. It was demolished in 1973 to make way for speculative office development.
The current tallest building in Australia is the Q1 tower in the Gold Coast at 323-metres.
The Stamoulis family have an estimated fortune of $459 million, primarily from the proceeds of the 2004 sale of its Gold Medal soft drink empire. Their property holdings now include Melbourne CBD office buildings, factories, a golf club in Victoria's Yarra Valley, an apartment block in Athens and an island in the Ionian sea.
Images courtesy of <a target="_blank" href="https://www.skyscrapercity.com/">https://www.skyscrapercity.com</a>.
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Proposed 404-metre tower for Melbourne at 555 Collins Street

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The Brisbane suburbs with the top yields for houses could earn investors a 6.2% gross yield, according to the Real Estate Institute of Queensland.
Durack and Inala – postcode 4077 – top the list of Brisbane suburbs with high yields at 6.2%.
Property Observer completed a brief survey of the suburbs to see the reality on the ground. Most yields came close though yields in Wakerley were somewhat below published figures.
Brisbane suburbs rank quite low compared to the rest of Queensland. The top Brisbane locality is beaten by 23 other localities in Queensland.
The median sale price in the locality is $283,804 with a median weekly rent of $337, according to the REIQ.
According to RP Data, median prices in <a target="_blank" href="/news">Durack</a> and <a target="_blank" href="/news">Inala</a>, in the outer south west, dropped 2.4% and 4.6% respectively.
A four-bedroom, two-bathroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-qld-durack-112515023">12 Dongola Street, Durack</a> (pictured below) is listed for sale at $575,000. The house is currently leased at $750 per week giving a potential gross yield of 6.78%.
<img src="/images/stories/2013/04/brisbaneapril23one.jpg" width="470" height="346" alt="brisbaneapril23one">
It is being sold by agent Linh Vo from Ray White.
A three-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-qld-durack-111547215">4 Briset Street, Durack</a> is under contract after being listed for sale at $265,000. It currently rents at $270 per week giving a potential gross yield of 5.3%.
It is being sold by Thu Van from Brisbane Real Estate.com.au.
A three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-inala-108051601'" target="_blank">10 Monoceros Street, Inala</a> (pictured below) is listed for sale at $269,000. Agent Matt Moran from Ray White markets the property as having $300-plus per week rent potential giving a potential gross yield of up to 6%.
<img src="/images/stories/2013/04/brisbaneapril23two.jpg" width="470" height="316" alt="brisbaneapril23two">
According to the ABS, postcode 4077 has a population of 25,157 people with a strong immigrant population. According to the 2011 census, 57.7% of respondents have both parents born overseas and 23% recorded Vietnamese as their language spoken at home.
<a target="_blank" href="/news">Bald Hills</a>, number two on the list, has gross yields of 5.5% according to the REIQ.
The median price in the outer northern suburb is $365,000 and the median weekly rent is $387. According to RP Data, the median price increased 1.8% last year.
A four-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-qld-bald+hills-113075491">11 Portico Place, Bald Hills</a> was listed for sale at $340,000. In March it was advertised for rent at $355 per week giving a potential gross yield of 5.43%.
It was being sold by David Kopelke from Ray White.
A three-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-qld-bald+hills-112127015">125 Miles Street, Bald Hills</a> (pictured below) is listed for sale at $395,000. In May last year it was advertised for rent at $380 per week, giving a potential gross yield of 5%.
<img alt="brisbaneapril23three" height="349" width="470" src="/images/stories/2013/04/brisbaneapril23three.jpg">
It is being sold by Carl Calio from Calio &amp; Scott.
<a target="_blank" href="/news">Wakerley</a>, in the outer south east, has yields of 5.4%, according to the REIQ. The median price is $529,250 and the median weekly rent is $547.
According to RP Data, the median price dropped 3.2% in the last year.
A four-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-qld-wakerley-113261135">13 Lexey Crescent, Wakerley</a> is listed for sale at $495,000. It is currently leased at $470 per week giving a potential gross yield of 4.94%.
It is being sold by Debbie Evans from livinghere.
A three-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-qld-wakerley-113368203">612 Manly Road, Wakerley</a> is listed for sale at $379,000. It currently rents at $300 per week giving a potential gross yield of 4.12%.
It is being sold by Tony Dean from James Dean Residential.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/04/brisbaneapril22one.gif" title="Click to enlarge"><img src="/images/stories/2013/04/brisbaneapril22onethumb.gif"></a>
Source: REIQ
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Durack and Inala top the REIQ Brisbane's 12 highest yielding suburbs for housing investment

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Depite the obvious strengthening in the 2013 property market, there has only been a slight improvement in estate agent price estimations since the Easter break.
Melbourne agents have seemingly slightly tweaked their auction sale price expectations, according to the latest Property Observer analysis.
But homes that sell at auction are still selling well above pre-auction price guides provided by agents, albeit by a slightly reduced amount.
Before Easter, a survey of 142 Melbourne auction sales found <a href="https://www.propertyobserver.com.au/victoria/melbourne-autumn-residential-auction-prices-fetching-well-above-price-guides/2013041160327">83% of sales fetched above pre-auction price guides</a>. Those 83% sold, on average, for 9.55% above the upper price bracket of the pre-auction price guide indication.
A new post-Easter survey of 69 Melbourne auction sales has found slightly more sales, 86%, exceeded price guides but they were slightly closer to the upper price bracket – an average of 8% over.
Of the 69 sales analysed, 22, or 32%, of them sold more than 10% above the upper price bracket. That’s compared to 30% of the pre-Easter auction sales.
The shift in near accuracy - or buyer over-bidding hestitation - came amid the homes selling for more than $1 million.
Before Easter, 91% of homes analysed which sold for more than $1 million went for above pre-auction price estimates. And 48% went for more than 10% above the upper price bracket of the price guide.
Those that sold above went for an average of 15% over.
But in the post-Easter results for the $1 milllion plus category, 85% sold for above pre-auction price estimates and 23% for more than 10% above.
Those that sold above went for an average of just 5.3% over.
The analysis comes from auction results recorded by National Property Buyers. The sales are usually desirable homes that National Property Buyers deems to somewhat worth buying for investors.
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Only a mild improvement in Melbourne auction price guidance since Easter break

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A bluestone church in Hexham, Victoria, has been listed for sale, just 50km south-east of where a church in the southern Grampians sold recently for double pre-auction price expectations.
The 1862-built St Andrews Uniting Church has reported price expectations of between $150,000 and $200,000.
It is being sold by Rob Rickard from Elders in Mortlake and Camperdown.
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/dunkeld-church-sells-for-nearly-double-expectations/2013041560397">A 1914-built church</a> in Dunkeld, 250 kilometres west of Melbourne, sold earlier ths month for $230,000, which was nearly double its price expectations going into auction.
The vendor bought the latest listing, a Hexham building, at <a href="https://www.realestate.com.au/property-other-vic-hexham-113453443">Roger Street</a>, from the Uniting Church two years ago and made some slight alterations before deciding to now sell.
“He’s decided he doesn’t have the time to put in it, but feels that somebody else should have the opportunity,” Rickard told Fairfax Media.
Rob Rickard was the selling agent in February 2010 when it sold for $162,000, almost triple its reserve of $60,000. There were 200 people at that auction with bids coming from New South Wales, South Australia and Melbourne.
The church closed in 2009 due to a dwindling congregation.
The auction includes the pews and pulpit.
Planning documents say the church is one of the oldest churches in the district with a distinctive crenellated bell tower and landscaping.
According to heritage documents it was designed by Andrew Kerr of Warrnambool “in a most unusual castellated mode”.
It was formerly a Presbyterian church, St Andrews.
Other buildings of heritage interest in the town include the Temperance Hall built in 1876, and the police building built in 1860.
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Hexham's 1862 church listed in Grampians

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Melbourne house price growth outperformed Sydney in the March quarter, according to Australian Property Monitors.
Melbourne’s median house price grew 3.6% over the quarter to $538,922 while Sydney’s grew 1.6% to $673,681.
Andrew Wilson, APM’s senior economist, says, “Melbourne was the standout performer."
Year on year, Sydney price growth is still outperforming Melbourne though, growing 4.2% compared to 3.7% in Melbourne.
"Sydney has now posted consecutive quarters of record level median house prices to clearly move from the recovery phase that commenced early in 2012 into a solid expansionary phase of cyclical house price growth," Wilson says. 
Sydney’s median house price is at a record high.
In Sydney, the median apartment price dropped 1.6% over the quarter after a 3.6% rise in December. In Melbourne median apartment prices rose 2.6% over the quarter, the third consecutive rise.
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"This is the best performance by the Melbourne housing market since the March quarter of 2010.
"Melbourne’s median house price has now risen by 3.7% over the past year but remains 4.2% below its previous peak level," Wilson says.
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Across the nation, house prices grew 1.7% over the quarter and 3.2% over the year. Apartments dropped 0.7% though they are still 0.7% up for the year.
Wilson says this is the best start to the year for country since strong conditions in 2010. He says there is little sign of this changing.
“Buyer activity is set to increase through the remainder of 2013 driven by growing optimism and record low interest rates that have likely bottomed out," he says.
But he says the extent of continued growth will depend on the performance of both the national and local economies.
The national median house price has now risen solidly for two quarters in a row, up by 1.7 % over the March quarter.
Brisbane house prices increase for the third quarter in a row for the first time in three years.
Adelaide and Canberra buck the national trend with median house prices falling over the March quarter.
<img src="/images/stories/2013/04/apmapril24one.gif" width="470" height="275" alt="apmapril24one">
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Melbourne house price growth outperforms Sydney in March quarter: APM

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Melbourne’s newest pedestrian laneway is open for business after Australand put the final touches on 357 Collins Street.
The reborn laneway, Fulham Place, has 1,800 square metres of retail which is fully leased and includes a 140-seat food court and dine-in restaurants.
Ground floor tenants include fashion label Thomas Pink, restaurant Vapiano, Crema Espresso Café, and Café Mesh, run by the proprietors of about 15 other café operations in Melbourne.
Lower ground retailers, around the food court, include Japanese store O-Bento, sandwich shop Nashi, café Basic Bites, Thai store Rock the Wok, popular burger joint Huxtaburger, Vietnamese store Roll’d, restaurant/Café Mr Banks, juice shop Feeling Fruity, JPG’s Shoe Repairs and convenience store Trafik.
The lane is closed to pedestrian traffic from 10am to 3pm.
The 22-level office building now offers 30,286 square metres of lettable office space, with 74% of that already leased to Commonwealth Bank with 13,543 square metres, telecommunications provider Service Stream with 7558 square metres, property investment group Growthpoint with 361 square metres on the top floor and investment group Wilson HTM with 770 square metres.
Almost the entire upper section of the building remains vacant including tenancies with access to exclusive outdoor terraces on the 12th and 15th storeys.
The building has been awarded a 5-Star NABERS energy rating and has extensive bicycle facilities and parking for 41 cars.
The energy efficiency is due to reduce outgoing costs normally associated with office tenancies with the total outgoings estimated at $102.5 per square metre including common area cleaning.
Energy costs in the building are expected to be less than half those of a 4-star awarded building.
The building was completed in late 2012.
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Finishing touches put on Melbourne's newest laneway off Flinders Lane

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A Point Piper harbourfront mansion - nicknamed the Bank and Olufsen house - has sold for about $34 million, reputedly to a Chinese buyer.
The McWilliam family had bought the property for $24 million in 2006.
The three-level residence was built in the mid-1980s by Brian Johnson of Pennant Properties.
Singer Elton John nicknamed the house the Bang and Olufsen house due to its distinctive tinted glass stereo speaker design spotting it while sailing Sydney Harbour.
After an unsolicited $11 million offer from Elton John which didn't progress preceded Brian Johnson's sale of the property for $11.25 million to the Taechaubol family in 1990. They then sold it to the McWilliam's.
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Point Piper mansion sells for about $34 million

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Australia needs to rework its superannuation system to cope with a wave of five million expected retirees by 2033, according to Westpac’s BT Financial Group chief executive Brad Cooper.
Speaking at an American Chamber of Commerce lunch in Sydney last week, covered by The Weekend Australian and The Sydney Morning Herald, Cooper warned the superannuation system will fail many, despite it being the biggest pension system in the world relative to GDP.
He encouraged political parties to work together to build a system that encourages more voluntary contributions, otherwise the system will be unsustainable. But he said any tax breaks should cut out once people reach a certain level of wealth.
He said should be a formal target on how much super should aim to provide in retirement.
“To shift most super balances towards a healthy income replacement rate, we need to acknowledge the importance of voluntary contributions in our system,” Cooper said.
He says to live comfortably, retirees need to be earning 65% to 70% of their pre-retirement income, but at the current rate many won’t be able to achieve that.
“Take a 20-year old male who enters the workforce and earns an average salary of $72,000 during his working life,” Cooper said.
“He receives 12% compulsory contributions, makes no voluntary contributions and retires at 65.”
Johnson said at a rate of return of 5%, the figure used in recent government announcements, he will earn just 51% of his average salary.
“So, on the compulsory super payments alone, a person earning the average salary cannot get near the preferred income replacement rate of 70%,” Cooper said.
“When you look at the adequacy of compulsory super contributions, you realise that even those earning $90,000 a year or $120,000 a year will also have a large shortfall. They will replace just 45% and 37% respectively.”
Only those who earned $40,000 a year in their working life would reach the 70% standard, but only because of top-ups by age pension.
“Without a government age pension, they would only replace 31%,” Cooper said.
He said this should be ringing alarm bells as the system was designed to ease the burden on future generations of paying for age pension.
With retirees to represent a larger share of the economy, Cooper said that it makes economic sense to foster a system that allows retirees to live comfortably and spend on services.
“Regardless of what we think of the financial challenges facing the governments of today, they’ll be many times worse in 20 years if we do not create an adequate system of savings,” Cooper said.
“If today’s 30-year-olds are the government ages pensioners in 2050, our future economy is in real trouble.”
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Superannuation system will fall short: Westpac’s BT Financial Group chief executive Brad Cooper 

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Another portion of Sir Graham McCamley’s rural empire in central Queensland has been listed for auction.
Two aggregations of 15,186 hectares and 46,184 hectares have been listed for sale through Elders Real Estate Rockhampton.
The listings include Tarrus, Royles, Oakleigh, Stoodleigh, Tanderra and Glenprairie estates.
They go to auction on June 5 in Rockhampton.
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McCamley lists more of his rural empire

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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

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."

[smartcode_project:default project_id=150713 project_image_fid=373827]

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."

[smartcode_project:default project_id=151449 project_image_fid=357463]

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<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.

[smartcode_project_cta:default project_id=134951]

Alistair Walsh

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