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<a target="_blank" href="/news">Charleville</a>, <a target="_blank" href="/news">Rockhampton</a>, <a target="_blank" href="/news">Mackay </a>and Mount Isa were the only regional areas in Queensland where median house prices rose over the year ending March 2012, according to Residex data.
Mackay has consistently been the best-performing area in Queensland, with 4.96% growth in the last quarter to $408,500, 5.45% growth in the year to March 2012, and an average yearly growth rate of 12.39% over the past decade.
Median house prices dropped in the seven other regional areas surveyed, with Noosa and Cairns recording the biggest decreases of 8.08% to $416,000 and 5.65% to $314,000 respectively.
Noosa has had the lowest average yearly growth over the past 10 years at 6.84%, closely followed by Cairns at 6.9%.
In the recent past Mackay has been performing the strongest with median prices up 3.82% in the last month and 4.96% in the last quarter.
<a target="_blank" href="/news">Cairns</a> has recorded the biggest decreases over the last month, dropping 2.43% to $314,000.
Click to enlarge
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Charleville, Rockhampton, Mackay and Mount Isa only Queensland regional areas with rising house prices over past year: Residex

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Boy band and teenage heartthrobs One Direction have taken Chapel Street by storm with their 1D pop-up shop as part of an increasing trend in Melbourne’s retail sector.
The band’s merchandise store was at 576 Chapel Street nearly four weeks since extending its lease by another week. It was due to close on Sunday.
<img src="/images/stories/2012/06/onedirection.jpg">
The shop was swarmed by a legion of teenage girls when it opened in a made-for-media event. Fans emptied the shelves of stock, which was then replenished. The shop was rarely empty, with teenagers congregating at the site to discuss the band.
Pop-up shops have come into increasing prominence recently as they pick up slack in a market hit by high vacancy rates.
Adrian Boutsakis, the Teska Carson agent who leased the property, says pop-up shops can be risky for owners but they do offer a way to fill gaps between long-term tenants.
<img src="/images/stories/2012/06/onedirection2.jpg">
“Some people try to lease pop-up shops for four to five days. For an owner it’s often not worth the risk for the money. If someone’s offering you $1,500 to $5,000 for a few days and they damage your property the cost will be $5,000 to $10,000”.
One Direction paid about $15,000 to $20,000 for the property, which Boutsakis is currently marketing at $330,000 a year.
Boutsakis is in the process of leasing the shop on a long-term basis.
“The tenants needed to push out the date to design the fit-out, etc. Normally in that time the owner would look at that as dead time which he factors into his costings. A short-term tenants alleviates that issue.”
In March CBRE released data showing pop-up shops had plugged rental gaps in Melbourne, which achieved historically low retail vacancy rates in 2011.
<img src="/images/stories/2012/06/onedirection3.jpg">
Four out of the 10 shop leased on Bridge Road, Richmond, in the second half of 2011 were taken up by pop-up shops, and Chapel Street was identified as a pop-up shop hotspot.
Boutsakis says the size of the One Direction shop makes it an oddity.
“Most pop-up shops don’t want 200-odd square metres. Generally pop-up shops want to pay about $1,500 a week for smaller shops.”
Boutsakis says short-term leases may not earn the agent fees and are sometimes done as a gesture of goodwill to the owner.
“One of the reasons we do short-term leasings is to keep clients happy. If it sits there vacant for a while owners can sometimes lose faith in their agent. Obviously we don’t want to lose clients to other agents.
“Often fees don’t play a part and it’s just to keep the owners happy. We leave it up to them, we don’t push them to do it.”
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One Direction had that one thing with Chapel Street pop-up shop

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The average gross rental yield for houses across Australia was 4.3% for a median price of $470,000, according to RP Data-Rismark Daily home value index. Brisbane, Canberra, Darwin and Hobart were all above the national average. In April, the gross rental yield for houses was 4.2%. 
<img src="/images/stories/2012/06/3point7percent.gif">
The gross rental yield for houses in Melbourne, which has a median house value of $534,450, according to RP Data-Rismark.
 
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<img src="/images/stories/2012/06/4point3percent.gif">
The gross rental yield for houses in Adelaide, which has a median house value of $385,000, according to RP Data-Rismark.
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<img src="/images/stories/2012/06/4point4percent.gif">
The gross rental yield for houses in Sydney, with a median house value of $628,450, according to RP Data-Rismark.
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<img src="/images/stories/2012/06/4point4percent.gif">
The gross rental yield for houses in Perth, which has a median house value of $470,000, according to RP Data-Rismark.
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<img src="/images/stories/2012/06/4point7percent.gif">
The gross rental yield for houses in Brisbane, which has a median house value of $434,050, according to RP Data-Rismark.
 
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<img src="/images/stories/2012/06/4point8percent.gif">
The gross rental yield for houses in Canberra, which has a median house value of $519,000, according to RP Data-Rismark.
 
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<img src="/images/stories/2012/06/5point3percent.gif">
The rental yield for houses in Hobart, which has a median house value of $360,000, according to RP Data-Rismark.
 
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<img src="/images/stories/2012/06/6percent.gif">
The rental yield for houses in Darwin, which has a median house value of $510,000, according to RP Data-Rismark.
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Capital city house yields by the numbers: A state-by-state analysis: RP Data-Rismark

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Does the disappearance of one timber building make a sound if people aren't around to hear it?
No one will ever know because all cameras were pointed towards the recent launch of Lend Lease's new Forté development as Grocon's Delta plans were quietly put on hold.
Lend Lease have started construction on the world's tallest timber residential building in Docklands.
Grocon had announced plans in March last year to build the world's tallest timber residential building on the former Carlton United Brewery site in Melbourne.
<img src="/images/stories/2012/05/delta3.jpg">
The 10-storey Delta was due to take the title from London's nine-storey Stadthaus, but Lend Lease will now beat Grocon to it.
<a href="https://www.propertyobserver.com.au/developments/lend-leases-docklands-project-forte-will-be-worlds-tallest-residential-timber-building/2012052554840/Page-2">Lend Lease's Forté will rise 32 metres from the ground to be the world's tallest</a>, and Melbourne's first timber residential tower.
Construction is due to be finished in October.
<img src="/images/stories/2012/05/delta2.jpg"> After Grocon's March announcement not much more was heard.
In September last year, Grocon's national design manager and general manager of the CUB site, David Waldren, gave a talk at the Building Australia's Future conference suggesting plans were going ahead.
But Property Observer spoke to Grocon spokesperson Jane Wilson, who confirmed industry whispers that the plans for the building were on hold.
<img src="/images/stories/2012/05/delta4.jpg"> 
"The situation with Delta is pretty much that it's on hold at the moment," Wilson says.
"It's still a concept at the moment, but we do hope to build it next year.
"We certainly do want a timber residential building, and we hope it will go ahead.
"Lend Lease is obviously going to be ahead of us."
<img src="/images/stories/delta.jpg">
Grocon will for now focus on the Swanston Square development on the same site.
"We have been selling apartments in Swanston Square development, which is part of the CUB site.
"We're due to start construction there soon," Wilson says.
Grocon need not worry too much as if any of three mooted plans around the world go to plan, Lend Lease will have the title taken away from them soon enough.
{module Would you buy an apartment in a timber building?}
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Timber! Grocon’s wooden Melbourne building Delta on hold as Lend Lease’s Forté to grow quickly

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Australia’s biggest pastoralist, Australian Agriculture Co, will spend $13,275,000 on the 600-hectare holding, Livingstone Farm, in the Livingstone Valley 50 km south of Darwin.
The acquisition is part of an $83 million plan to build an abattoir able to process about 225,000 head of cattle each year.
The Northern Territory government approved the construction earlier this month. The abattoir is expected to occupy 14 hectares of the site, with the balance acting as a buffer zone, with irrigation zones, natural wetlands and ponds.
The plan won’t stop the controversial live-trade issue, but the company plans to halve the number of cattle trucked to Queensland or southern abattoirs.
Referring to animals unsuitable for live-export to Indonesia, AACo chief David Farley estimates it currently costs $220 t $320 per animal to transport them in Australia – more than value of each cow.
"The project fundamentals around a processing plant in the Northern Territory are compelling and will secure the long-term future of Australia's northern pastoral industry," Farley said in a statement on Wednesday.
"The economic benefits extend well beyond northern Australia, and we believe will also have substantial positive flow-on effects for our northern neighbours."
The proposed abattoir will comply to halal standards, which involved a rigorous set of procedures for stunning and bleeding the animals.
Although the company has the resources to run the program alone, it is considering a joint-venture with a pastoralist or customer.
AACo expects total cattle sales of 244,000 this year, including 92,000 live-export, up from 239,771 last year.
Farley told the ABC that the company still needs to negotiate vital water and power and convince the NT government into funding infrastructure upgrades.
"We're within weeks really, it's just a matter of issues around the port and issues around some of the service supplies.
"If we get a break through with those, we'll be more than comfortable to progress with the tendering of the plant and then ultimately construction."
The company’s ASX statement advocates the proximity to growing Asian markets.
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Australian Agricultural Co buys NT Livingstone Farm with plans to build abattoir

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Melbourne architect Shelley Penn has been elected the 73rd president of the Australian Institute of Architects.
She comes to the job having previously expressed a firm view on the differences between Sydney and Melbourne architectural clients.
"Melbourne clients with small budgets and nothing more than a kitchen extension would still want to do something very good and would interview five or six architects for the project ... In Sydney, architects I know have been contacted by people with $500,000 to spend who simply got their name from the phone book,” she said in 2002.
Work on a Richmond warehouse conversion in 2000 earned Penn a commendation in AIA architectural awards. The turn-of-the-century former vinegar factory retained its 1970s graffiti including a bold “shame Fraser again”.
<img style="float: left; margin: 5px;" width="300" src="/images/stories/2012/05/shellypenn.jpg">
She was the protégé of Melbourne architect Kai Chen for several years before traveling to Europe and Asia in the early 1990s.
Penn has lectured at the University of Melbourne, where she is particularly concerned with the poetic capacity of architecture to enrich the human condition.
She has worked as an adviser to government and private organisations on design matters, including a position as urban design consultant for Melbourne's EastLink project.
In 2000 to 2001 Penn worked as a design director in the office of the NSW Government Architect.
Penn is best more recently known for her review of the controversial Barangaroo development for the incoming O'Farrell government in NSW in 2011.
She is a sole-practising architect, a deputy chair of the Heritage Council of Victoria, acting chair of the National Capital Authority, the government planning organisation for Canberra, and a former associate Victorian government architect.
Penn is a mother of two and her partner, Mark Edgoose, is a silversmith and senior lecturer. She moved from Leichhardt in Sydney to South Williamstown six years ago, drawn by the open spaces and generous blocks close to the beach still only 20 minutes from the city.
"We love the west – the working-class guts of it, the industry that remains, the maritime influence and history of the port here," she told The Age in November 2011.
"Swings hang from trees in front gardens, people sit on their verandas and say 'G'day' as you walk past."
While she loves the area, she says Melbourne’s roads are not coping with the growth in West.
Penn rates her top five Melbourne suburbs as Burnley, Clifton Hill, St Kilda, Williamstown and Windsor.
She says the flat topographical landscape of Melbourne has led to the development of its cultural capital, much like Berlin.
"The flat topography, the network of transport and road access, relative affordability to get to and be 'among' culture, be it arts events, food culture, sport, and interesting, innovative and provocative architecture, that's all part of a city's cultural richness.”
Melbourne’s Etihad Stadium has been the subject of some criticism by Penn.
"The function is fine, but it is in the wrong spot. It blocks the city from Docklands. It's been one of the problems in the development of Docklands in terms of its use by people and its relationship to the CBD. I think Etihad is a bit of a barrier, literally,” she told The Sunday Age.
She says Monaco House is one her favourite Melbourne buildings, a consummate example of how architecture responds to the existing urban landscape. Other Melbourne landmarks she is fond of are Heide II, The National Gallery, Bolte Bridge, St Patrick's Cathedral and ACCA.
AIA chief executive David Parken welcomed Penn to the position at the annual general meeting yesterday.
"We are excited to have Shelley as the next advocate for not only the institute but our members and the broader architectural community."
The 72nd president was Brian Zulaikha, a founding partner of Tonkin Zulaikha Greer.
 
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Melbourne architect Shelley Penn named 73rd president of Australian Institute of Architects

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Victoria narrowly pipped Tasmania and South Australia with the biggest percentage increase in properties newly listed for rent, according to RP Data. Victoria also has the highest number of listings of any state, with its 27,193 total listings some 8% higher than in May last year. Some 60% of Victoria's current rental listings are newly advertised. The 14, 553 fresh listings are well up on the same month last year, when there were 10,199 fresh listing.
For increases in new rental listings,Victoria was closely followed by Tasmania and South Australia, up 40% from 773 to 1,081 and 39% from 2,585 to 3,597 respectively.
Across Australia new rental listings for the month ending May 20 have increased 26% from 38,910 last year to 49,020.
Total listings Australia-wide were down 10% from 93,499 in May last year to 83,942 this May. New listings represent 58% of total listings in Australia.
Victoria, South Australia and Tasmania were the only states where total rental listings increased over the year.
For total listings the Northern Territory has experienced the biggest decline over the year. Total rental listings in the territory dropped 33% from 1,139 last year to 765 for the month ending May 20.
Total listings in WA decreased 21% over the year but new listings now represent 66% of total advertised properties.
"Total rental listings are now at their highest level in eight weeks," the report says.
"Although rental listings have risen, they are currently 10.2% lower than at the same time last year nationally and 6.2% lower across the combined capital cities.
"Across individual capital cities, rental listings are lower than at the same time last year in: Sydney (-8.5%), Brisbane(-23.3%), Perth (-22.7%), Darwin (-40.4%) and Canberra (-5.8%). On the other hand, rental listings are higher than a year ago in: Melbourne (7.7%), Adelaide (9.4%) and Hobart (19.2%)"
 
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Victorian rental listings increased 43% in past year, with Tasmania a close second: RP Data

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Despite his distaste of barmaids "hired for their physical attributes rather than their prowess in drawing ale," and his teetotalling ways, early Labor politician King O'Malley often delivered his famous Federation-era speeches from the balcony of Queenstown’s Hunters Hotel – a hotel that is now up for sale.
O’Malley frequently campaigned for workers’ rights from the 1898-built hotel as Tasmanians gathered in the street below.
The hotel has two shop fronts, each leased to long term-tenants. The building has 20 hotel rooms and a bottle shop at the rear.
Classified as a building of national historic significance, the hotel sits on a 1,012-square-metre block of land. The historical façade of the building is heritage listed.
<img src="/images/stories/huntershotel1.jpg">
Agent Bradlee Martin from Roberts Licenced Properties Hobart is looking for between $170,000 and $200,000 for the property.
O’Malley was a pioneer of Labor tradition and had a strong relationship with the miners of Queenstown.
He moved to Tasmania in 1900.
His parliamentary career had a major impact on property being behind the push that explains the ACT leasehold situation.
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Tasmanian Queenstown’s Hunters Hotel – site of King O’Malley’s campaigning speeches – on the market

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Fitzroy’s music venue The Night Cat will live on after selling for $4.63 million at auction yesterday.
The venue was saved from being turned into a Reese Plumbing shop after neighbouring property owner Andrew Demetriou outbid developers for the site.<img src="/images/stories/nightcat1.jpg">
Reese’s Plumbing was reportedly hoping to set up an owner-occupier shop in the premises, but Demetriou (not the AFL boss) outbid the company.
“It was the most vicious battle I’ve ever seen at an auction,” says Night Cat operator Max Bella.
“It was the most stressful thing. Thank God Andrew had balls of steel.”
Bella says he will be signing a new lease with Demetriou soon.
<img src="/images/stories/nightcat2.jpg">
“He wants to keep The Night Cat as The Night Cat. Isn’t that a beautiful thing? Culture remains in Fitzroy.”
“It’s the best news for live music in Fitzroy for a long time. We haven’t stopped partying,” Bella says.
“Who could ever want to put a plumbing display shop there, oh God.”
Colliers agent Jeremy Gruzewski says both he and Bella were happy with the auction result.
“It was a strong auction. It was bought by a neighbouring property owner. He’s increasing his portfolio in Fitzroy.”
“Max was yelling and cheering, popping the Moet champagne. He was very thrilled.
“The Night Cat lives on.”
<img src="/images/stories/nightcat3.jpg">
Agents had been expecting $3.2 million plus for the property.
The Night Cat currently pays annual rent of $195,000, with a fixed 4% increase due February 2013 taking the passing rental to $202,772.48 per year net.
The current lease expires on January 2014.
 
 
 
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Fitzroy's Night Cat lands on its feet and sells to neighbour at auction

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Until <a target="_blank" href="https://www.propertyobserver.com.au/developments/lend-leases-docklands-project-forte-will-be-worlds-tallest-residential-timber-building/2012052554840">Lend Lease's Docklands project Forté is completed, </a>London currently holds the record for the world’s tallest timber residential building with Waugh Thistleton's nine-storey Stadthaus (pictured below).
The building took just 49 weeks to complete, with the basic structure taking just nine weeks.
Some 265 trees were used in its construction. It houses 29 apartments and a ground-floor office.
<img src="/images/stories/stadhaus.jpg">
Photo courtesy of Waugh Thistleton
One building perhaps not counted among official records was Russian gangster Nikolai Sutyagin's DIY creation (pictured below). He cobbled together 13 storeys to build a reported 43-metre ramshackle house in Arkhangelsk. Unfortunately it was partially torn down in 2009 and the remaining structure burnt down earlier this month.
<img src="/images/stories/russian.jpg">
Arkhangelsk wooden mansion. Photo courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>
And it seems Melbourne isn’t the only city to reach for the canopy.
Vancouver has mooted plans for a 30-storey wooden tower aptly titled Tall Wood Tower. Michael Green Architecture designed the tower.
<img src="/images/stories/tallwood.jpg">
Tall Wood Tower. Photo courtesy of Michael Green Architecture
Dornbirn in Austria may soon be home to a 20-30 storey mixed used wooden tower called the LifeCycle Tower, designed by Creative Renewable Energy and Efficiency.
<img src="/images/stories/lifecycle.jpg" width="470">
LifeCycle Tower. Photo courtesy of CREE
And Kirkenes in Norway will join the game too, with plans approved to build the 20-storey Barentshouse Kirkenes.
<img src="/images/stories/barents.jpg" width="470">
Barentshouse Kirkenes. Photo courtesy of Reiulf Ramstad Arkitekter
Building things entirely out of wood isn’t a new concept, either. Considered the tallest wooden structure in Europe, Northern Transylvania’s 56-metre Barsana Monastery was built in 1720.
<img src="/images/stories/monastery.jpg">
 
Barsana Monastery. Photo by Brandon Atkinson, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>
The tallest wooden structure still standing is a radio tower in Gliwice Poland built in 1935. It stands at 118 metres. It’s still not as tall as the tallest wooden tower ever built though. The 1933-built Mühlacker Transmission Tower in Germany once stood at 190 metre before it was destroyed in 1945.
<img src="/images/stories/radiotower.jpg">
Gliwice tower. Photo courtesy of the Ministry of Foreign Affairs of the Republic of Poland
 
 
{module Would you buy an apartment in a timber building?} 
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Seeing the wood for the buildings: Telling tall timber tales around the world

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

Joel Robinson

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

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

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

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

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Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

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

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