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Sydney estate agent John McGrath says Sydney’s property market is on the rebound and entering the beginning of the next growth cycle, though the luxury market may still have to wait.
The founder and current chief executive of McGrath real estate McGrath says Sydney will experience some price growth in 2013 with the surrounding regional areas likely to follow within 12 months.
“I believe the real estate markets in most parts of Australia, certainly Sydney, are past the worst and heading for some blue skies in 2013,” McGrath says in his spring 2012 report.
“That’s not to say I expect either a straight line growth recovery or an instant uplift in prices
“However…we are through the worst and at the beginning of the next growth cycle. We have already seen Sydney median prices grow by just under 2% in the past 12 months.”
To back up his “gut feeling”, McGrath cites lower days on market; a return of investors; increasing rents; and increasing affordability as key signs of a recovery.
McGrath says selling times have dropped from 50-60 days down to 30-40 days while figures show 45% of AFG loans approvals have been for investors suggesting there’s a steady pipeline of investors waiting to buy.
He says bidder turnout has improved in line with higher clearance rates, which hit a two year peak of 68% in August.
McGrath says rents have continued to rise in most metropolitan regions metropolitan regions with the median rent for a three-bedroom house in Sydney increasing by around 5% to $420 per week this year while the median rent for a two-bedroom apartment grew by 6% to $425 per week.
“This both encourages tenants to consider shifting to home ownership and provides investors better yields,” McGrath says.
He says affordability has increased, particularly for first home buyers with home loan rates are around 50 basis points lower than their long term average and fixed rates sitting around 5.39%. He says AFG reported August was its strongest mortgage month for home loan applications in more than three years.
“So, as we look at these factors and observations, it seems to me that all things considered we will see price growth in Sydney in 2013.”
“The surrounding regional areas are likely to follow within 12 months. Historically, these areas have a lag time of 6-12 months behind the major metropolitan markets and I imagine this will likely be the case again.
“Having said that, the property market is also experiencing a two-speed turnaround. Properties under $1m are in strong demand whilst those above $2m are less so.
“Many of the factors I have outlined have greater impact on first and second homebuyers than they do on luxury property owners.
“The key catalyst for the upper end recovery will be the share market. Interest rates, rents and unemployment are not really influencing factors for the top end. Many luxury owners are still awaiting some clearer resolution on the macro economy and the Euro zone before jumping back into the market.
McGrath predicts rents will increase 4% to 5% over 2013 while sale prices for properties under $750,000 will increase 2% to 5%, property prices between $750,000 $1.5m will increase 5% to 8% and prices will remain neutral for sales above $1.5 million for the next nine months before increasing 10% in the 2014 financial year.
He does provide the caveat that if the ASX hits 5000 points the top end of the market will see rapid increases earlier than suggested above.
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Sydney prices recovering: John McGrath

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Rents in Sydney and Perth have hit record highs after median rents skyrocketed over the quarter in both cities, according to Australian Property Monitors' quarterly rental report.
In Sydney house rents grew 4% over the quarter to a record $520 per week for houses and Perth house rents grew 4.7% to a record $450 per week.
In Sydney unit rents are unchanged over the quarter, but they recorded strong growth the previous quarter.
The rises place Sydney as the second most expensive city to rent a house, after Darwin.
“[These rises are] further evidence of the rising cost of housing in the harbour city, though unit rental growth remained flat over the September quarter,” says APM’s Andrew Wilson.
Yields for houses in Sydney have fallen 0.8% over the quarter to 4.67%, while unit yields fell 0.4% to 5.13%.
The report says rent rises in Perth were “extraordinary”, with house rents jumping 4.7% over the quarter and 15.4% over the year while unit rents jumped 2.6% over the quarter and 11.4% over the year.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/apmoct11.jpg"><img src="/images/stories/2012/10/apmoct11thumb.jpg"></a>
Source: APM
House rents in Perth are now at $450 per week, while unit rents are at $390 per week.
“Housing shortages are starting to bite in Perth as immigration levels surge,” says Wilson.
House yields in Perth increased 1.7% over the quarter to 5.12%, while unit yields increased 2.8% to 5.73%.
Rent rises in Darwin eclipsed all other state capitals, with median rents jumping 7.7% for houses and 10.4% for units over the quarter.
The rises consolidate Darwin’s lead as the state capital with the largest median rents for both houses and units.
Weekly rents in Darwin are now at $700 per week for houses and $530 per week for units.
Wilson says the rises in Darwin reflect “to a large degree the impacts of the transient nature of the workforce. Nonetheless, the Darwin rental market continues to struggle with an underlying shortage of available housing.”
House yields in Darwin fell 3.4% over the quarter to 5.14%, while unit yields increased 4.5% to 6.1%.
 
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Melbourne rents remain unchanged for the quarter and the year at $360 per week for houses and $350 for units.
“This reflects the higher vacancy rates and wider choice of rental properties for tenants that characterises the Melbourne market,” Wilson says.
Melbourne house yields rose 1.6%  over the quarter to 4.31%, while unit yields fell 0.1% to 4.64%.
Brisbane was almost as flat as Melbourne, with no change over the quarter for houses at $380 per week, though they are up 2.7% for the year while unit rents increased 1.4% over the quarter to $365 per week, the only rise for the year.
“This reflects a generally more subdued housing market in Brisbane,” Wilson says.
Brisbane house yields rose 0.7% over the quarter to 5.24% while unit yields rose 0.6% to 5.37%.
In Adelaide, house rents at $340 per week are unchanged over the quarter and up 1.5% for the year while unit rents dropped 1.8% for the quarter to $275 per week, the only change for the year.
“A generally subdued housing market for both buyer and tenant activity meant house rents were steady,” Wilson says.
Adelaide house yields rose 0.6% over the quarter to 4.83% while unit yields rose 1.1% to 5.14%.
In Canberra, house rents fell 1% over the quarter to $485 per week, though rents are up 3.2% for the year. Unit rents fell 2.3% over the quarter to $430 per week, nullifying rises in the previous quarter.
“[This] can be attributed to increased buyer activity providing less competition for rental properties,” Wilson says.
House yields in Canberra rose 2.6% over the quarter to 5%, while unit yields fell 0.8% to 5.55%.
And in Hobart, house rents rose 2.4% over the quarter, rebounding from declines last quarter, to $320 per week. Unit rents did the opposite, falling 3.8%, going back to September 2011 levels of $250 per week.
Across the nation, median asking rents for houses rose 1.6% over the quarter while units rose by 0.2%.
“Overall, rental markets will continue to produce varied outcomes reflecting the underlying drivers of each capital city,” Wilson says.
“In Sydney, Perth and Darwin, pressure on rents will continue as declining affordability impacts on first home buyers’ borrowing capacity with housing shortages and population increases combining to keep vacancy rates tight.
“For other markets, such as Melbourne, subdued housing market conditions, higher vacancy rates and less competition for available properties should see rental prices remain steady over the shorter-term.”
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Sydney and Perth rents hit record highs: APM

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Units in Arncliffe, just west of the airport, recorded the highest growth in rents for all sectors in Sydney real estate market over the quarter.
Rents in Arncliffe rose 26.2% over the quarter to $530 per week, according to Australian Property Monitors figures.
A number of brand-new apartments are up for lease in the suburb, including units in Meriton’s new 307-unit building Fusion, where <a target="_blank" href="https://www.realestate.com.au/property-unit-nsw-arncliffe-408586779">two-bedroom apartments</a> rent for $590 per week.
A two-bedroom apartment in the building recently sold for $600,000.
The new Serenity building, a 182-unit development, has a number of units for lease.
<a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-arncliffe-408650307">Apartment G507</a> in the building recently sold for $559,000 and is offered for rent at $530 per week, giving a gross yield of 4.93%.
Though the market is dominated by newer developments, there are a number of older units in brick buildings available for rent.
Apartment 9 at 12 Queen Street was one such case. The most recent asking rent was $350 per week for the two-bedroom apartment, up from $290 a week in 2009. The landlords had been asking for $380 earlier this year but have since reduced their expectations.
<a target="_blank" href="https://www.domain.com.au/Property/For-Rent/Apartment-Unit-Flat/NSW/Arncliffe/?adid=7951059">Apartment 8</a> next door, is at a current asking rent of $355 per week, though marketing notes this is a reduced asking rent. It last traded for $230,000 in 2003.
Across Sydney, <a href="https://www.propertyobserver.com.au/landlords/sydney-and-perth-rents-hit-record-highs-apm/2012101057084" target="_blank">rents have hit record highs</a> as median house rents grew 4% over the quarter to $520 per week while unit rents were unchanged over the quarter after recording strong growth in the previous quarter.
Although unit rents remained unchanged over the whole of Sydney, units in some suburbs such as Arncliffe recorded massive growth over the quarter, as reported by Fairfax.
Arncliffe’s massive increase was followed by Granville, near Parramatta, where house rents grew 10% to $440 per week.
In third place was Edgecliff, in the inner east, where unit rents rose 9% to $545 per week.
<table cellpadding="0" cellspacing="0" border="0" width="417"><tbody>
<tr>
<td nowrap valign="bottom" width="64">
Type
</td>
<td nowrap valign="bottom" width="111">
Suburb
</td>
<td nowrap valign="bottom" width="87">
Median weekly rent
</td>
<td nowrap valign="bottom" width="155">
Change over the quarter
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a target="_blank" href="/news">Arncliffe</a>
</td>
<td nowrap valign="bottom" width="87">
$530
</td>
<td nowrap valign="bottom" width="155">
26.2%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
House
</td>
<td nowrap valign="bottom" width="111">
<a target="_blank" href="/news">Granville</a>
</td>
<td nowrap valign="bottom" width="87">
$440
</td>
<td nowrap valign="bottom" width="155">
10%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a target="_blank" href="/news">Edgecliff</a>
</td>
<td nowrap valign="bottom" width="87">
$545
</td>
<td nowrap valign="bottom" width="155">
9%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Balmain</a>
</td>
<td nowrap valign="bottom" width="87">
$595
</td>
<td nowrap valign="bottom" width="155">
8.2%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Fairlight</a>
</td>
<td nowrap valign="bottom" width="87">
$595
</td>
<td nowrap valign="bottom" width="155">
8.2%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Woolloomooloo</a>
</td>
<td nowrap valign="bottom" width="87">
$700
</td>
<td nowrap valign="bottom" width="155">
7.7%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Leichhardt</a>
</td>
<td nowrap valign="bottom" width="87">
$430
</td>
<td nowrap valign="bottom" width="155">
7.5%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">St Leonards</a>
</td>
<td nowrap valign="bottom" width="87">
$590
</td>
<td nowrap valign="bottom" width="155">
7.3%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
Unit
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Rockdale</a>
</td>
<td nowrap valign="bottom" width="87">
$470
</td>
<td nowrap valign="bottom" width="155">
6.8%
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="64">
House
</td>
<td nowrap valign="bottom" width="111">
<a href="/news">Chatswood</a>
</td>
<td nowrap valign="bottom" width="87">
$808
</td>
<td nowrap valign="bottom" width="155">
6.3%
<div></div>
</td>
</tr>
</tbody></table>
Source: APM
Rents fell in some suburbs, such as <a target="_blank" href="/news">Glebe </a>and <a target="_blank" href="/news">Haymarket</a>.
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Arncliffe leads top 10 rental growth suburbs in Sydney: APM

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Garden product manufacturing and distributing group Yates Garden Products has spent $3.2 million on an office and warehouse property in Morwell, in Victoria’s south-east.
The former state electricity commission property at lot 3C Rail Road has 14,000 square metres of buildings including a 450-square-metre office, a 6000-square-metre mill building and a main warehouse of 7,550 square metres.
The 3.6-hectare property also includes cranes and fire sprinklers in the buildings as well as extensive hardstand yards and three road frontages.
The vacant possession sale was negotiated by Savills Australia senior industrial executive Keith Kooloos.
The buildings were originally built as maintenance workshops and stores depot for the State Electricity Commission of Victoria.
The commission was responsible for developing coal power in the area, which is a major coal mining and fossil-fuel power generation hub for Victoria.
The LaTrobe Valley city has a long history of coal mining and energy production with the construction of Yallourn open-cut coal mine in the 1920s.
Koolos says Yates required a larger property to cater for recent growth in the business.
Kooloos says there was strong interest in the property, with several buyers competing.
“Two other, vacant sites, were also sold and now, due to the strong local interest and demand, Savills is offering the remaining five hardstand lots for auction on November 1,” Koolos says.
Owner-occupier McCormack Demby Timber was selling the property, which it had run as a saw mill until about a year ago.
The roots of Yates date back to 1883 when Englishman Arthur Yates started a gardening business in Auckland.
Yates celebrated it’s 125th anniversary this year.
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Gardening company Yates spends $3.2 million in La Trobe Valley

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Knight Frank is selling 15 apartments in the AEA Sydney Airport Serviced Apartments building in Mascot in a receivership sale.
The company is offering the 15 strata-titled one- and two-bedroom apartments in one line.
The most recent sale in the building was one-bedroom apartment number 15, which sold for $234,000.
The properties are being sold by agents Brett Burridge and Richard Garland.
The building a short trolley push away from Sydney airport, seven kilometres south of the CBD.
The last review for the property on Trip Advisor complained of poor conditions and lack of service.
“The first calamity was to try to enter the property at 4pm. At the front door (off a busy cross street to Botany Road) the buzzer brought no one. A telephone call to the onsite manager, reservations number and then manager again, finally brought a tall, shoeless man in socks and dirty shorts and T-shirt to open the locked door for us,” reviewer EleWaggaWagga complained.
Rooms in the apartments start at $109 a night.
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Group of 15 Sydney airport serviced apartments for sale in one line

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An 1870s St Kilda mansion that was the birthplace of former Prime Minister Stanley Melbourne Bruce has been listed for sale by the Presentation Sisters.
The 1,761-square-metre property has been the home to the Sisters of the Society of Australian Congregations of the Presentation of the Blessed Virgin Mary, better known as the Presentation Sisters, since 1919.
The property named Stradbroke was built by Thomas Moore Esq in 1873.
In 1919 the Presentation Sisters purchased the property from the Sisters of Mercy.
The mansion includes arcaded verandas over its two levels and an 18-room interior, including a chapel and a wine cellar.
Bruce, the prime minster of Australia from 1923 to 1929, was born in the property on April 15, 1883, in the house.
From windows overlooking Port Phillip Bay, its occupants would have been able to see ships laden with goods from the mother country sailing from the Great Southern Ocean, writer David Lee said in his book Stanley Melbourne Bruce: Australian Internationalist.
Bruce’s family is better associated with Wombalano, a large colonial-style Toorak mansion.
<img src="/images/stories/2012/09/bruceplaque.jpg">
A plaque unveiled by politician Barry Jones stands outside the Grey Street, St Kilda mansion celebrating his birth.
Bruce was the second youngest prime minister to serve in Australia, taking office at age 39.
The property comes with 788 square metres of vacant land, which is being marketed as prime for development.
Agent Iain Carmichael from BennisonMackinnon is expecting $3 million to $3.5 million for the mansion and around $1.5 million for the land.
The property is being sold by <a target="_blank" href="https://www.benmac.com.au/index.cfm?pageCall=property&amp;propertyID=2177197&amp;showBackToResults=true&amp;realestate=71_&amp;_71a_Grey_Street_ST_KILDA_VIC_3182">BennisonMackinnon agents</a> Iain Carmichael and Andrew Macmillan as well as <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/71-and-71a-grey-street-st-kilda/Property-Details-buy-commercial-4515469">Greg Hocking agent</a> John Holdsworth.
The property is being offered by expressions of interest both as a whole and separately.
Any buyers will have to agree to keep a magnificent English oak tree, which is protected by Vegetation Protection Overlay recently applied by the Port Phillip Council.
Council documents show the protected tree was planted in 1919 by the sisters as a symbol of the congregation.
The 13-metre tree can be seen from the reserve and is thought to offer aesthetic and amenity value to the local area.
The English oak is also thought to hold horticultural value with the species in cultivation in Victoria between 1855 and 1889.The Grey Street
A <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/3917348">Grey Street purchase, St Fintans </a>, a primary school run by the nuns was reported in 1928. 
The full original Presentation Sisters' property included what the area now known as Newton Reserve adjoining the southwest of property. The nuns will retain other property on Grey Street.
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Birthplace of former prime minister Stanley Melbourne Bruce listed by St Kilda nuns

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Malaysian developer SP Setia has been offering Malaysian investors exclusive deals for Fulton Lane, Melbourne purchases.
Potential buyers at a recent showcase at the luxury Marriott Hotel in Kuala Lumpur were offered 10% interest per annum on off-the-plan deposits for the final release of apartments as well as a cash rebate of 1% of the purchase price.
The developer is also offering a “buyer get buyer special” where a buyer and a friend will be given an additional 1% cash rebate if they refer each other.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/fulton.jpg"><img src="/images/stories/2012/09/fultonthumb.jpg"></a>
The two-tower development consists of one,- two- and three-bedroom apartments.
On A’Beckett Street, one tower is due to rise 145.5 metres to 45 levels, while the other will be 90 metres over 29 levels.
Demolition of the site has just been completed, and construction of the project currently due to finish in 2014.
 
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SP Setia says the 10% deal has never been offered before for apartments in Melbourne, although Lend Lease made a similar offer in March to buyers within its Richmond project Studio 9.
A spokesperson for SP Setia did not respond to Property Observer requests for details over the past week.
Lend Lease is offering all its buyers an annual 10% return on deposits on off-the-plan apartments in its Richmond Studio 9 development.
With Lend Lease having a completion date of late 2013, buyers are earning up to $11,000 in interest.
The limited offer led to increased buyer activity, according to Lend Lease.
“We have received a high level of positive interest from both investors and owner occupiers since launching the 10% return on deposits initiative for Studio 9 and have noticed an increase in the uptake of sales as a result of the offer,” a spokesperson says.
Apartments in the Fulton Lane development range from $360,000 to $1.35 million.
SP Setia has also promised a 6% rental guarantee.
The company bought the 4,340-square-metre former car park from businessman Solomon Lew for just over $30 million in 2010.
The 810-unit was approved by Planning Minister Matthew Guy in early 2011.
The development is named after a street that was swallowed up by an expansion of the Queen Victoria Market.
The first stage was released in mid-2011, selling 70% of the 291 apartments on offer within three days, mostly to Malaysian investors. Apartments in the larger tower were first offered late last year.
SP Setia bought a 2.2-hectare site at 557 St Kilda Road in September 2011 from Lloyd Williams’ company Hudson Conway, which is due to be redeveloped as a 23-level skyscraper.
An SP Setia spokesperson did not respond in time for publication.
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Fulton Lane Melbourne residential tower offers Malaysian buyers exclusive sweeteners

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The red brick Cronulla house used as the location of the Vickers' family house in the Channel 10 series Puberty Blues (pictured below) sold at recent auction for $1,382,500.
{yoogallery src=[images/stories/2012/09/sept6puberty]}
The home, last sold 47 years ago, was very much in mint 1970s condition, including the seven different types of wallpaper, patterned carpet, coloured bathroom and wood light fittings.
The television series location manager Peter Hicks scoured for months to find the right house with authentic '70s interiors.
Inspired by the recent <a href="https://www.propertyobserver.com.au/new-south-wales/no-blues-for-the-property-market-as-70s-icon-sells/2012090956471" target="_blank">Puberty Blues series</a> – which seems set to return to our wide screens again – and the home sale, Property Observer has taken the trip back to find the top 1970s homes that are currently on the market or have recently sold.
The list is mainly populated by Victoria and New South Wales properties, but other states do get a mention. The list is organised by the style features that are indicative of a 1970s property.
 
<hr class="system-pagebreak">
<h1>Orange and brown</h1>
Maybe it was all the John Lennon tinted sunglasses, but people in the 1970s loved orange and brown. The world couldn’t get enough – orange and brown pants, orange and brown carpet, orange and brown typewriters and orange and brown homes. 

<img src="/images/stories/2012/09/trentwood.jpg">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-balwyn+north-109451346">21 Trentwood Avenue, Balwyn North, Vic 3104</a> (pictured above)
In excess of $1 million
The fire, the furniture, the brown carpet and the wood veneer show this house's makeover in the 1970s. Walk into the open home day and you’ll likely hear Bee Gees’ Trafalgar pumping from the stereo. This home was actually built in the 1960s but underwent a hefty renovation in the '70s. The property was designed by Kevin Borland. The four-bedroom brick home is listed through Dawn Kay from Fletchers Balwyn North.
 
<hr class="system-pagebreak">
<h1>Exposed Brick</h1>
Brick was best, according to the 1970s psyche. Big, imposing (orange) brick walls were a key feature of Australian homes in the 1970s.

<img src="/images/stories/2012/09/vernon.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-hunters+hill-111544867">8 Vernon Street, Hunters Hill, NSW 2110</a> (pictured above) $3.49 million

There’s a big brick wall here, but the owners have adorned it in true '70s style with a lovely big hanging tapestry. The roof angles down leading onto a concrete entertainer's deck. Settle back in the period futon and get groovy, man. The home comes with 180-degree views over the bay. It comes with its own pool and private access to the bay. Nicholas McEvoy from McGrath Hunters Hill is listing the property.
<img src="/images/stories/2012/09/williamedward.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-longueville-110477853">19 William Edward Street, Longueville, NSW 2066</a> (pictured above) $1.59 million

The interior is stylistically similar to the previous property. The dining room here is framed by the big brick walls to give a homely feel. The Longueville property comes on 1,250 square metres for the true Australian dream lifestyle. It is being listed by Mary-Anne Fitzgerald from Blunts Real Estate Lane Cove.
 
<hr class="system-pagebreak">
<h1>Tiled kitchens and bathrooms</h1>
Big tiles were the big thing back then, and who can blame them? Patterened tiles, striped tiles, orange tiles – anything to make a statement.
<img src="/images/stories/2012/09/hooke.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-dungog-109339186">112 Hooke Street, Dungog, NSW 2420</a> (pictured above) $359,000

Big and bold are the words to describe these tiles. The fern in the upper right does inject some greenery into the earth tones of the bathroom. The brick home is in Dungog, North of Newcastle. Natasha McElwaine from McElwaine Hunter Valley is selling the property.
<img src="/images/stories/2012/09/park.jpg">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-brunswick-111096111">833 Park Street, Brunswick, Vic 3056</a> (pictured above)
$1,350,000

Very similar tiles here, maybe Waltons was having a sale at the time. Offered for the first time in 28 years, this property is a blast from the past. Property Observer particularly likes the lovely blind just peeking into the frame. Property Observer notes it's not quite authentic though, with a complete lack of any Macramé. The solid-brick Californian bungalow is close to Melbourne and comes with the classic three bedrooms and two bathrooms. Chris Goulding from Barry Plant Brunswick is selling the property.
 
<hr class="system-pagebreak">
<h1>Billiards and pool rooms</h1>
Someone in the 1970s decided that billiards and pool rooms were a good idea. The space-hungry rooms are a common feature of homes of this period.

<img src="/images/stories/2012/09/belmont.jpg">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-surrey+hills-111303151">5 Belmont Street, Surrey Hills, Vic 3127</a> (pictured above)
$1. 4 million

There’s ample room to play a few rounds of pool around this table, there’s no need to buy shorter cues, which are so often required in pool rooms. The generous space is a sure feature from the '70s. The four-bedroom Surrey Hills home comes has no shortage of space at all, as it’s set on 1,139 square metres. It’s being sold by Loger Chen and Janssen Xiang from Aussie Home Real Estate Kew.
<img src="/images/stories/2012/09/robinson.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/18-20-robinson-place-portsea/Property-Details-buy-residential-3732841">18-20 Robinson Place, Portsea, Vic, 3944</a> (pictured above) $1.6 million

Big pool room, big tiles, orange stylised furniture – this has to be the feature home on our list. The wood-panelled roofing leading out into the entertaining area is lovely. The four-bedroom home comes on 2,000 square metres and is close to the local tennis and golf club. It’s being sold by Ilze Moran and Lloyd Robinson from RT Edgar Portsea.
 
<hr class="system-pagebreak">
<h1>Fireplaces</h1>

Home builders in the 1970s loved their fireplaces. If there’s one way to quickly tell if a home was built in the 1970s, rush to the lounge room and see if there’s an open fireplace. Big and brick and likely orange.

<img src="/images/stories/2012/09/clarke.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-sa-walkerville-108186616">6 Clarke Street, Walkerville, SA 5081</a> (pictured above) $875,000 to $950,000 Built in the 1970s, this home was recently renovated to bring it up to date. But it’s been tastefully done and keeps its original styling cues. White walls started to creep into fashion in the 1970s as architects advocated large modern-looking rooms. The original builders took an interesting take on the requisite 1970s fireplace and have made it a feature point of the open-plan dining and lounge room. It’s being sold by Judy Morris from Klemich Real Estate.
<img src="/images/stories/2012/09/small.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-woollahra-111201083">13 Small Street, Woollahra, NSW 2025</a> (pictured above) Above $2 million

There’s some '70s-influenced styling here with the fireplace and the Organic-style architecture. It comes with views over the city skyline, which would have looked somewhat different in the 1970s. The rest of the house is furnished with period furniture and detailing. It’s being sold by Walter Antonelli from Raine &amp; Horne Double Bay.
 
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<h1>Trippy patterns</h1>


Stare at some of the patterns around in the 1970s long enough and you’ll eventually lose your mind. There’s nothing subtle about the carpets and wallpaper around at the time.
<img src="/images/stories/2012/09/watts.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-vic-mount+eliza-108199666">44 Watts Parade, Mount Eliza, Vic 3930</a> (pictured above) $950,000

What a kitchen. Property Observer likes the styling and the big floor tiles. The kitchen is in a three-bedroom Mount Eliza home absolutely full of 1970s furniture. The property is being sold by James Crowder from Community Real Estate Mount Eliza.
<img src="/images/stories/2012/09/sheoke.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-vic-sorrento-107134026">5 Sheoke Grove, Sorrento, Vic 3943</a> $675,000

This Sorrento property hasn’t been touched in a long time. There's wonderful wooden bedheads. The zig-zag carpet is unrelenting yet mesmerising. And then to complete the magic eye illusion, it’s offset by the fluoro curtains. The brick home is set on 776 square metres of land. It’s being sold by Liz Jensen from Kay &amp; Burton Portsea.
 
<img src="/images/stories/2012/09/yarrabat.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-vic-balwyn-108169516">97 Yarrbat Avenue, Balwyn, Vic 3103</a> (pictured above) $ Undisclosed

This home was originally designed by  Dale Fisher, an Australian architect active through the 1970s. It has made use of the classic '70s wallpaper, but it’s used in restraint and works quite well. The interior of the home is like a museum of 1970s styling. The four-bedroom home comes on 1,812 square metres of land in Balwyn. It recently sold through Diana Healy from Jellis Craig Hawthorn.
 
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<h1>Outdoor spaces</h1>
Entertaining has always been an Australian tradition, and this was no different in the 1970s. The spaces there were built to 1970s tastes.

<img src="/images/stories/2012/09/helenslea.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-vic-caulfield+north-111417947">7 Helenslea Road, Caulfield North, Vic 3161</a> (pictured above) 

This is a classic 1970s outdoor space. The deck is concrete tiled, and the angled roof comes down to give a small timber-clad covering to half of it. The patio looks out to the expansive backyard and into the family room. The home has been updated over the years, but the undeniable soul of the '70s remains. The four-bedroom Caulfield North home is set on 835 square metres and comes with a kosher kitchen and an undercover car port.

<img src="/images/stories/2012/09/nelson.jpg">
 <a target="_blank" href="https://www.realestate.com.au/property-house-wa-bedfordale-110374989">30 Nelson Street, Bedfordale, WA 6112</a> $559,000

That façade is so '70s it must have been designed right about the time Gough Whitlam was sacked by John Kerr. The façade is from a five-bedroom brick home on 5590 square metres in the semi-rural suburb in the south-east of Perth, Bedfordale. It’s being sold by Sam Saffioti from Roleystone Real Estate Roleystone.
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Got the right day but got the wrong week: the 14 houses living in the '70s

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Kathy Lette, author of Puberty Blues, has expressed hope there may be a second series of the Channel 10 series set in the 1970s in the Sutherland Shire in Sydney.
<a target="_blank" href="https://twitter.com/KathyLette"><img src="/images/stories/2012/09/pubertytweet.jpg"></a>
It was her 1979 novel that was the basis for a highly successful TV series portraying Australian beachside culture in the 1970s.
The eight-episode ratings hit concluded this week. A second series would show the continuing relationship between Debbie Vickers, Susie Knight and the Greenhills Gang.
Meanwhile,<a target="_blank" href="https://www.propertyobserver.com.au/residential/flicker-3-got-the-right-day-but-got-the-wrong-week-14-houses-living-in-the-70s/2012091856533"> take a look at the homes found by Property Observer that are still living in the '70s.</a> They could be used as a likely locations if the recently sold Cronulla house used as the Vickers home location gets modernised by its recent buyers.
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Puberty Blues could be back for a second season after Vickers' home sells: Tweet of the day

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It seems Melbourne real estate agents continue to underquote prices of properties going to auction, according to a Property Observer survey.
An analysis of sales data by Property Observer from the results of auctions attended in the last month by buyers advocate group National Property Buyers shows 75% of homes sold for more than the upper price bracket indicated by real estate agents before the auction.
Out of the 61 sales analysed, 11 sold for more than 10% above the upper price bracket given by agents.
In cases where properties sold for above the indicated price range, the average difference was 6.5% above the upper bracket.
The analysis does not include properties that passed in or those for which the agents did not indicate a price range.
Underquoting was most rampant among properties selling for less than $600,000. Out of the 24 sales examined, just four fell within the price range indicated by agents before auction. Four sales went for more than 10% above the upper bracket.
There were 23 properties that sold for between $600,000 and $1 million, 16 of which sold for above the price range indicated, including four that went for more than 10% above.
There were 14 properties that sold for more than $1 million, 10 of which sold for above the price range indicated, including three that sold for more than 10% above.
The most extreme example was a three-bedroom house in Yarraville that had a price guide of $1.15 million to $1.3 million. It actually sold at $1,565,000, 20% above the highest price in the agent's bracket.
Out of the 61 sales analysed, just one sold for under the price bracket, falling short by just $2,500.
Of the 15 sales that fell in the middle of the agent's price guide, six sold for exactly the same figure as the highest indicated, and most the rest were very close to the highest figure.
 
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Buyers' agent Catherine Cashmore from National Property Buyers, from which the raw data was taken, says the quotes are generally recorded as close to the auction data as possible.
"If the quote is not openly published, we aim to get it as close to the auction date as possible.  A lot of agents 'step quote'  – it's a common practice to gain as much interest as possible at the start of a campaign and up the quote in the last week to avoid any issues when the reserve is revealed during the auction – specially in a sluggish market," Cashmore says.
"However, when we catalogue the auctions, we do so during the last week of the campaign to avoid any discrepancies." 
A previous analysis of 220 auction results<a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435"> found 77% of properties </a>were selling above price guides. Those that sold above were going for an average of 5% above expectations.
Commenting on those results, Cashmore says agents who don't suggest a somewhat low figure risk scaring potential bidders away from auctions.
"Selling agents know that to run a successful auction means attracting as many buyers as possible. The more buyers prepared to put their hand up at auction the better the result."
"No agent is going to risk 'over cooking' a property by quoting too high. It will always be placed – at the very least – a 'conservative' level.
"Whilst I’m in full agreement of fair legislation outlawing deceitful advertising and agree that price quotes which vary between agencies can be a wishy-washy guideline in purchasers' eyes, buyers should not be misled into believing further legislation will change the sales process to work in their favour."
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Underquoting still rife for Melbourne auction offerings

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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>.

[smartcode_project_cta:default project_id=151449]

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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