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<a target="_blank" href="https://Realestate.com.au">Realestate.com.au</a> continues to dominate the online real estate landscape with as many unique visitors and double the page impressions of the next nine biggest real estate websites added together, according to Google Ad Planner.
<a href="https://Realestate.com.au">Realestate.com.au</a> had 3.8 million unique visitors and 300 million page views for January.
This was followed by Domain, Real Estate View and Home Hound at the top of the list.
Real estate portal commentator and former CEO of <a target="_blank" href="https://realestate.com.au">realestate.com.au</a> Simon Baker says nothing has changed over the last 10 years.
“The funny thing is nothing has changed over the last decade.  Ten years ago <a target="_blank" href="https://realestate.com.au">realestate.com.au</a> was the most popular site – double the size of <a target="_blank" href="https://www.domain.com.au/">Domain</a>, followed by <a target="_blank" href="https://Property.com.au">Property.com.au</a>, <a target="_blank" href="https://www.realestateview.com.au/">Real Estate View </a>and <a target="_blank" href="https://www.homehound.com.au/">Home Hound</a>,” he writes.
“<a target="_blank" href="https://Property.com.au">Property.com.au</a> was purchased by <a target="_blank" href="https://realestate.com.au">realestate.com.au</a> (REA Group now) in 2003.”
Franchise group websites were not included on the list of portals but had they been included, LJ Hooker and Ray White would have made the top 10, with Raine &amp; Horne just missing out.
In 1999 IMR Worldwide published a list of the top 40 websites. <a target="_blank" href="https://Realestate.com.au">Realestate.com.au</a> was ranked as the 40th most popular website in Australia, with 67,000 page views a month.
Google Ad Planner is a web analytics tool that allows potential advertisers to research what are the biggest sites.
Facebook.com is the most visited website in Australia with 17 billion page views, according to Google estimates.
This is followed by Youtube.com and Live.com.
 
 
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Realestate.com.au miles ahead of online property portal rivals

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Sydney and Melbourne have each moved down one place on the Worldwide Cost of Living Survey, now ranked seventh and eighth respectively, just below Oslo and Paris.
The strong Australian dollar has kept the Australians high on the list, which is topped by Zurich, according to the The Economist Intelligence Unit Worldwide Cost of Living 2011 report.
“Local inflation in mature markets always has far less influence on the relative cost of living than the currency movements of the countries in question. This also explains the recent presence of Australian cities like Sydney and Melbourne in the 10 most expensive locations as last year saw the Australian dollar pass parity with the US dollar from holding half that value a decade ago,” the report said.
As the report measures things in US dollars and doesn’t take into account local salaries, the report is used to calculate the cost of living for expatriates rather than the cost for locals.
“[The report is used to] calculate cost-of-living allowances and build compensation packages for expatriates and business travellers.”
Just three years ago, Sydney and Melbourne were ranked 32nd and 38th respectively.
According to the report, the cost of a bag of rice has increased 25% in Sydney and 34% Melbourne since last year, while petrol increased 40% in both Sydney and Melbourne. Bread went down 35% in Melbourne and up 40% in Sydney.
The top end of the list has been increasingly populated by Asian cities.
“Singapore’s presence in the top 10 highlights a shift away from western Europe towards Asian hubs. Cities from the Asia Pacific region (including Australasia) now make up half the ten most expensive.”
“That said, western Europe still accounts for 24 of the most expensive cities in the top 50, with 14 hailing from Asia.”
Some traditional European hubs have weathered the eurozone crisis, with Frankfurt and Paris staying in the top 10.
Zurich surged four places to the top of the list due to currency investors moving away from the Euro and into the Swiss Franc, according to the report.
“Investors looking for a haven currency outside the beleaguered Eurozone have invested heavily in the Swiss Franc, prompting an unprecedented move by the Swiss government to peg the Swiss Franc to the Euro to keep the currency competitive.”
Karachi was rated the world’s cheapest city for expatriates, closely followed by Mumbai and Tehran.
India held three places in the ten cheapest cities, showing why it has been such a target of labour outsourcing the report says.
The presence of many Middle Eastern cities in the 10 cheapest was due to price controls and the pegging of currencies to the US dollar.
The presence of Asian cities at the bottom end of the list had a more structural basis, with cheap labour and land costs making India and Pakistan incredibly attractive to those bargain-hungry visitors or investors willing to brave some of the security risks that accompany such low prices, especially in Pakistan.
 
 
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Sydney and Melbourne in top eight most expensive cities in the world for travellers

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Australia maintained strong investor interest despite market sentiment in the Asia Pacific region deteriorating over quarter four 2011, according the latest report by CBRE.
The Asia Pacific ViewPoint report says offshore interest in Australia from Asia and Europe was steady through the quarter as competition from domestic groups including superannuation, funds, wholesale funds and unlisted property trusts grew.
In other Asia Pacific areas, market sentiment deteriorated due to increasing investor concern about the eurozone debt crisis and the uncertain global economic environment.
Despite this sentiment, investment volumes in the region rose during the quarter, bolstered by the completion of isolated larger deals and several related-party transactions.
Domestic Australian groups began to increase acquisitions as more substantial assets reached the market, particularly from the A-REIT sector.
Quarter four brought some large local deals including <a href="https://www.propertyobserver.com.au/western-australia/government-employee-super-fund-to-buy-half-of-perth-office-tower-qv1/2011082551284" target="_blank">Australian Reward Alliance’s $310 million purchase of a 50% stake in the landmark QV1 tower in Perth</a> from Dexus Property Group and Industry Superannuation Property Trust’s $200 million acquisition of a 25% share in <a href="https://www.propertyobserver.com.au/new-south-wales/heritage-buildings-can-now-shoot-for-six-green-stars/2011082151231" target="_blank">161 Castlereagh Street</a>.
Click to enlarge
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Australia remains attractive to offshore investors with high yields, a strong economic outlook and ease in making property deals, with one of the notable transactions being <a href="https://www.propertyobserver.com.au/commercial/offshore-investment-in-australian-commercial-property-at-20-year-high/2011122052916" target="_blank">the $84 million acquisition of 140 Sussex Street in Sydney</a>, according to senior managing director of international investments in Australia Rick Butler.
Most foreign investment came from Asia, predominantly driven by fund managers and Sovereign Wealth Funds in Singapore as well as cashed-up independent investors. The <a href="https://www.propertyobserver.com.au/commercial/offshore-investment-in-australian-commercial-property-at-20-year-high/2011122052916" target="_blank">$185 million sale of the ASX building at 20 Bridge Street</a> in Sydney went to Kwap, a Malaysian pension fund.
Butler is confident about the future of offshore investment in Australia.
“Demand from offshore parties should remain firm in 2012 whilst domestic investors will continue to turn more active,” writes Butler.
“News in January that Charter Hall Office REIT, which owns properties valued at $1.84 billion, had agreed to sell all of its units to an international consortium of PSP and GIC could be a sign of things to come, with investors looking for opportunities to acquire assets from listed and unlisted groups suffering from financial stress.”
China was another country that had sizeable transactions and development deals. Korea and Malaysia also had confident domestic groups.
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Offshore investment in Australian commercial property remains strong in December quarter 2011: CBRE

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Despite growing demand from investors for distressed listed Australian commercial properties, supply is set to easily exceed demand during the first quarter of 2012, according to research by the Royal Institute of Chartered Surveyors.
The report shows levels of distressed commercial properties on the market increased from quarter three to quarter four, the RICS Global Distressed Property Monitor found.
Globally, demand for distressed commercial properties increased as more distressed commercial properties entered the market.
The levels of increasing demand are unprecedented, according to the report, with 80% of the countries surveyed reporting increased investor interest.
“Indeed, in most cases the pace of rising demand picked up at a faster pace than previously seen,” writes RICS economist Matthew Edmond
“The rise in the number of countries reporting rising investor appetite for distressed assets may be viewed as an indication that prices in the market place are getting closer to offering value.”
Scandinavia, UAE, Italy, France and Japan led the push for increasing demand from investors, and only three counties surveyed reported decreasing demand.
Countries at the centre of the eurozone debt crisis are expected to have the fastest rising levels of distressed commercial property entering the market, with the Republic of Ireland, Portugal, Spain and Italy topping the list.
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“Given the ongoing and intensifying problems in Europe, it is little surprise that respondents in many of these countries are more pessimistic,” writes Edmond.
“The continuing debt crisis in the area is clearly adversely affecting sentiment, as property professionals in France and Germany also anticipate further rises in distressed selling.”
Ireland and southern European nations also top the list of countries where supply outstrips demand.
An expected fall in supply was reported by seven counties, two more than in the previous quarter, but the majority of respondents in Europe still expect supply to exceed demand.
 
 
 
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Supply of distressed commercial properties to outstrip demand: Royal Institute of Chartered Surveyors

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The safety cordon around the 1960s office block at 447 Collins Street remains in place as owner Industry Superannuation Property Trust’s engineers undertake safety assessments and remove loose panels, and tenants in the building are yet to find out what they will receive for lost income.
The Godfrey &amp; Spowers-designed building was cordoned off last week after a two-metre-by-one-metre marble panel became dislodged and plummeted into the courtyard – a popular lunchspot for nearby office workers. No one was injured.
<img style="float: left; margin: 5px;" src="/images/stories/collinsst3.jpg">
The panel, one of a reported 1,200 that coat the building, likely fell due to a combination of age and weather, according to a Melbourne City Council spokesperson.
“The panels are fixed to the building using a combination of mechanical fixings to support the load and an adhesive to keep the panel in position.”
“It appears that over time the adhesive has permitted sufficient movement so as to allow the panel to move beyond the safe limit of the mechanical support.”
ISPT chief executive Daryl Browning says the weather could have affected the adhesive.
“Just as windows can break, adhesions or fixings can be affected by weather, extreme weather. There could be some breakdown in the metal or the adhesive. It unfortunately does happen.”
“The reality is there are not that many failures. In my working career there have been a few buildings ... that have had facade issues.”
Since 2006 ISPT has had approval to build a Buchan Group-designed 11-storey office block and a two-storey restaurant on the site. The permit was extended in September and is due to expire in December 2015. However, the building was recommended for heritage protection in July 2011 by Melbourne City Council.
ISPT has contested the decision, arguing “the condition of the existing building means it is not feasible to retain the existing building in its current form”, according to a December Melbourne City Council document.
The inclusion in a heritage overlay would affect future approvals if the owners were to allow the current approval for plans to lapse.
There are currently no specific regulations requiring owners to periodically maintain facades, however ISPT did undertake inspections in 2011, according to the council spokesman.
“The owner had engaged a contractor to do some facade inspections late last year. The extent of these inspections is unclear, and it is understood that there was no cause for concern at that time.”
<img src="/images/stories/collinsst5.jpg">
The safety cordon extends approximately 30 metres from the north (Collins Street) side of the building; however on the western (William Street) side the cordon is only the width of the pavement, although the council says the panel fell several metres from the building.
<img src="/images/stories/collinsst4.jpg">
“The panel hit the balustrade on the level below and was then propelled away from the facade. It appears the main impact area was a few metres from the face of the building,” says the council spokesman.
<img style="float: left; margin: 5px;" src="/images/stories/collinsst6.jpg">
“The areas that have been barricaded are similar to those that would be protected by a gantry if the building was under construction.”
The cordon has forced many ground-floor retail businesses to close. The owner of one business says the building’s owners have been unwilling to discuss compensation for lost business.
“We've been waiting for three or four days and we've still heard nothing. I think there’ll be a meeting [on Friday].” says one business owner.
“There will certainly be a discussion... They obviously have had to close and there’ll be income that they’ve forgone. And that will all be considered,” Browning says.
Managing agent Knight Frank was recently offering space for lease in the building but the lease sign at the front was taken down mid-week.
ISPT is one of the largest property funds in Australia, managing $7 billion of investments. In Melbourne it owns 500 Bourke Street, Casselden Place, 114 William Street, Melbourne GPO, 474 St Kilda Road and 50 Lonsdale Street.
ISPT bought 447 Collins Street for $81 million from AXA in November 2004.
On February 10 ISPT met with business owners , who say compensation matters have been discussed. The meeting was 11 days after the January 31 incident.
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Tenants yet to get compensation guidance after emergency closure of Collins Street office building

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Collins Street, Melbourne certainly  had impressive Christmas decorations, as the photo package by Alistair Walsh shows. 333 Collins Street did the CBD proud. We're not not sure about the Town Hall gift wrapping, though.
<img src="/images/stories/christmas5.jpg">
101 Collins Street
<img src="/images/stories/christmas2.jpg">
45 Collins Street
<img src="/images/stories/christmas3.jpg">
Melbourne Town Hall
<img src="/images/stories/christmas4.jpg">
333 Collins Street
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Melbourne's Collins Street dons decorations for Christmas cheer

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Rural property listing site Farmbuy.com is now selling rural properties from Elders Real Estate.
Farmbuy.com is Australia's largest dedicated rural property listing site, with more than 13,000 rural and lifestyle properties listed and more than 50,000 visits every month.
Elders started listing on December 1 and now has 1,500 to 2000 properties on the site. This represents about 60% of Elders’ properties, and this is expected to increase by the end of the month.
Elder is the biggest agency by sold value on the website. First National Networks lists the most properties, but these are mostly lifestyle properties under two hectares according to Farmbuy.com founder Philip Sondhu.
After starting up in 2009, the site has approximately 450 agencies advertising through the site. It generates revenue from monthly agent subscriptions and display advertising from companies looking to reach an Agribusiness audience.
Elders sold 8,338 properties for a combined total value of $3.23 billion in the 2010 financial year.
“We've been lucky to have had great support over the journey from Australia's major agents and have been pushing hard to feed our users more properties. Now with Elders, arguably Australia's largest rural agent network,  we give our user base more choice, more rural property and therefore assist them further in finding a rural property which suits their needs,” says Sondhu.
The website has also signed a preferred supplier agreement with the LJ Hooker franchise network.
Sondhu says this is a more difficult task considering the agency is entirely franchised.
“As of two weeks ago we’ve signed a deal with them… We’re expecting a whole bunch of them to come on the next month or two,” he says.
Sondhu is confident many bigger agencies will start listing.
“The next cab off the rank should be the Ray White network.”
The website launched nationwide in 2009 as the only dedicated rural property site. The first companies to list with them were First National Rural Company and Landmark Property.
“The agents really liked it. It addressed something realestate.com.au and domain.com.au weren’t doing.”
 
 
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Elders Real Estate signs deal with rural listing site Farmbuy.com

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{yoogallery src=[images/stories/december19tennyson]}
A Mediterranean-style beach mansion with a private observatory is up for sale in Tennyson, the Adelaide beachside suburb.
The 1990-built house has unobstructed views over Gulf St Vincent, with the house backing directly onto sand dunes with a sandy footpath to the water.
It has five bedrooms, seven bathrooms to wash the seawater off, and a variety of entertaining rooms across its three stories. The observation tower has 360-degree views over the surroundings.
Lynette McMahon from Phil McMahon Real Estate is the agent for the house, which sits on a 972-square-metre block of land. McMahon is looking to sell for $2.9 million plus to $3,190,000. McMahon bills the house as being “reminiscent of the beachside mansions of California”.
It lasted traded at $2.3 million in 2005.
The most recent beachfront sales on Tennyson Heights Court have been $2.1 million in December 2010 and a $1.65 million sale in March 2011.
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Mediterranean beachfront mansion in Tennyson on the market

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The Queensland hotel market is due to recover after recent poor performance, particularly in sites like the Gold Coast and Sunshine Coast, according to the latest report by CBRE.
Queensland’s hotel market should grow 5.2% from 2012 to 2016, outperforming any other state and the 3.3% national average, according to the report.
“Queensland is still in the midst of a difficult economic period which commenced with the GFC. This has continued to the present day due to ongoing problems in the construction and tourism industries as well as the damage caused by the floods and cyclones at the beginning of 2011,” the report finds.
“Further forwards, however, forecast growth rates are strong.
“Capital expenditure is the major contributor to this growth outlook, with many resource related projects providing strong prospects for the state. “
The report also cites the announcement of the 2018 Commonwealth Games in Queensland as a catalyst for growth.
Queensland has suffered a slump in room rates this year, which is not expected to recover until 2012.
“Floods and cyclones have impacted heavily, as did the recent grounding of the Qantas fleet. These one-off events came on top of a consistently high Aussie dollar, which has resulted in less international visitors and a propensity of Australians to take advantage of greater purchasing power and head overseas for their holidays,” says the report.
International tourist arrivals are forecast to increase 8.6% in 2012, then 7.8% in 2013 and 7.6% in 2014. Most international arrivals stayed level from 2001 except for Japan, which fell from more than 450,000 in 2004 to 200,000 in 2011.
The report finds most purchasers for major hotel assets in 2012 are likely to be private investors, foreign interests (especially Asian based) and operators seeking to grow the number of rooms/apartments under management.
“A litmus test for the accommodation market is likely to be the upcoming listing of the Commonwealth Property Fund Hotel portfolio with assets in Brisbane, Sydney and Melbourne,” says senior associate director of global research and consulting at CBRE Craig Godber.
“The listing will provide a good indication of both the true depth of the investment market as well as pricing.”
 
 
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Queensland hotel market set for recovery in 2012 after bad year: CBRE

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Victorian property buyers will have just 30 days to pay stamp duty from April next year as the state government slashes the payment deadline, which is traditionally 90 days from the date of transaction.
The Duties Act 2000 (Vic) amendment comes into effect on April 1 next year.
“Purchasers of property will now need to take account of the implications of the new stamping requirements when considering their finance requests,” says TressCox lawyer Dan Flynn.
“The reduced time for payment means that it will no longer be possible to hold funds for up to three months, allowing investment of funds, or use of it for other purposes, during the period before payment is made.”
Flynn recommends parties involved in dutiable transactions adopt practices that enable them to comply with the reduced time period to avoid penalties.
The act also ensures the same level of stamp duty benefits for concession card holders and pensioners are available to purchasers of existing homes, off-the-plan purchasers and owner-builders.
The base point for calculating the concession for off-the-plan sales to pensioners and concession card holders is now defined as the aggregate of the value of the land and the cost of construction, rather than the dutiable value of the property.
 
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Victorian home buyers to pay off stamp duty in just 30 days from April

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."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

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

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

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