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{yoogallery src=[images/stories/december9mosman]}
A three-bedroom Mosman home designed and owned by architect Stan Symonds has been on the market since October 2008 and recently withstood two legal attacks on its leafy garden.
The Oswald Street home has two bathrooms, a large family room and a two-car garage. It has an open-plan lounge and dining area opening onto a terrace garden.
The house sits on a 601-square-metre block of land overlooking Reid Park and Mosman Bay.
The garden surrounding the architect’s home is the showcase of the house. Thick vegetation surrounds the home and keeps it hidden from the street. Kaffir Plum, Jacaranda and Hackberry trees frame the view from the living room.
<a href="https://www.propertyobserver.com.au/residential/two-more-mosmanites-fail-to-lop-their-neighbour-s-trees/2011112452521">Last month neighbours attempted legal action against Symonds contending that his trees blocked their views of the harbour and might damage their property</a>. The trees remain safe with the court dismissing both cases.
The home even features a rooftop garden with fish pond and cabana.
David Smeallie from Belle Property Mosman has the listing, with current a current price hopes of more than $1.5 million, down from $1.69 million in October and $2 million in 2009.
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awalsh-7Ub9EypybQ

Organic Mosman apartment on the market

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Melbourne’s industrial rents topped quarterly growth in the Asia Pacific region, according to the latest report by CBRE.
Melbourne’s warehouse rents grew 1.4% in quarter three, to $83.2 per square metre per annum.
This isn’t close to Sydney’s industrial rents, which are at $125.8 per square metre despite a year-on-year decrease of 0.9%. They increased 0.3% in quarter three.
Rental growth in Melbourne was driven by rent rises in the west and inner suburban market, with Melbourne’s overall industrial prime rental now averaging $84.50 per square metre, the report found.
“While leasing activity has remained relatively subdued there is a lack of available, quality stock in prime locations and this has been driving rental growth,” says CBRE regional director of industrial and logistics services Joshua Charles.
“Demand is being driven by logistics and distribution groups and is focused on the west, where cheaper land values are helping to facilitate design build projects and pre-leasing activity.”
The report found that rental growth has accelerated through the wider Asia Pacific Region, with CBRE’s Logistics Rental Index growing by 2% quarter-on-quarter in the third quarter, following 1.4% growth in quarter two.
“This growth was largely due to the strong performance of key Greater China markets, where retailers have been competing to secure quality logistics space in prime areas in anticipation of the peak retail sales period during the lunar new year in January,” the report found.
In Sydney the west sub-region continues to attract occupiers with cheaper land that is close to major transport links.
Sydney’s prime industrial rents remained stable in quarter three with a decline in demand from manufacturing groups offset by increased demand from distribution-related occupier.
“Secondary locations and properties which do not suit modern logistics operators will struggle going forward,” says Charles.
Brisbane experienced increased demand for new and larger units, particularly in well-located areas around the Gateway precincts, and this led to a slight growth in prime rents.
Resource-focused or distribution companies’ preference for modern facilities led to a fall in demand for secondary stock. Speculative development has remained on hold, with financial institutions still requiring a pre-commitment level of up to 80%, according to the report.
In Perth prime industrial rents remained steady as demand from resource-linked occupiers began to outweigh the decline in demand from manufacturing tenants.
Supply remained limited, particularly in the eastern sub-region for properties over 3,000 square metres.
“Given the tight supply pipeline, schemes targeting larger occupier requirements such as Jandakot City and Stockland Industrial Estate are reaping the rewards and land values could increase over the coming months, especially in light of a reported easing in financing restrictions,” Charles says.
Cautious occupiers in Adelaide led to limited demand for industrial accommodation but demand remained strong for well-located buildings close to the airport and in the north-west district. Buildings in secondary locations remained difficult to lease.
“Development finance and the lack of land available for sale remains the hurdles for Adelaide’s supply pipeline,” the report found.
In Canberra prime industrial rents remained stable but leasing activity was subdued. Capital values fell due to the softening of yields in Hume and Mitchell in particular, according to the report.
“Development is presently restricted to refurbishment projects, with very limited new development in the immediate pipeline,” the report found.
In the wider Asia Pacific area, rental growth accelerated in quarter three and capital values increased at a slower pace.
There were slight increases in land values in most Australian markets, with Melbourne recording the strongest growth.
 
 
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Melbourne industrial rental growth leads Asia Pacific: CBRE

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Greater Dandenong is the feeling the most housing stress in Melbourne as renters and home purchasers struggle with high housing costs across the region, according to the latest Australians for Affordable Housing report.
In Greater Dandenong 21% of households experienced housing stress, as did 19% of residents in Hume and Melbourne local government areas.
In Greater Dandenong 31% of mortgagees and 38% of those in private rentals experienced housing stress.
Residents in the municipalities Bayside and Nilumbik experienced the least amount of housing stress, at only 9%.
“Housing is the single biggest cost of living pressure in Australia. When low-income households spend more than 30% of their income on housing costs they are officially in housing stress. This means they have very little left over to cover other costs like food, transport, bills or money for emergencies,” says AAH spokesman Sarah Toohey.
The report found renters tended to have a harder time than mortgagees with renters experiencing greater stress that mortgagees in every area surveyed.
Click to enlarge
<img src="/images/stories/stress.gif">
Toohey used the report to call for a government focus on cheaper housing.
“Urgent action is needed by both the Victorian and Commonwealth governments, with a proper housing strategy that includes more than releasing land on the city fringe,” she says.
“Premier Ballieu needs to invest in more affordable housing options close to jobs and services to reduce the squeeze on weekly budgets.”
 
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Greater Dandenong tops list of Melbourne suburbs with most housing stress

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<table width="285" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="69">
Postcode
</td>
<td valign="bottom" nowrap width="123">
Suburb
</td>
<td valign="bottom" nowrap width="93">
Median house price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5081
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">MEDINDIE</a>
</td>
<td valign="bottom" nowrap width="93">
$1,505,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5061
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">UNLEY PARK</a>
</td>
<td valign="bottom" nowrap width="93">
$1,457,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5067
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">ROSE PARK</a>
</td>
<td valign="bottom" nowrap width="93">
$1,192,750
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5065
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">TOORAK GARDENS</a>
</td>
<td valign="bottom" nowrap width="93">
$1,128,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5068
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">LEABROOK</a>
</td>
<td valign="bottom" nowrap width="93">
$1,072,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5006
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">NORTH ADELAIDE</a>
</td>
<td valign="bottom" nowrap width="93">
$1,045,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5022
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">TENNYSON</a>
</td>
<td valign="bottom" nowrap width="93">
$1,045,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5065
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">TUSMORE</a>
</td>
<td valign="bottom" nowrap width="93">
$1,030,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5070
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">JOSLIN</a>
</td>
<td valign="bottom" nowrap width="93">
$980,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5061
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">MALVERN</a>
</td>
<td valign="bottom" nowrap width="93">
$970,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
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Top 10 most expensive suburbs in SA for house prices: RP Data

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Former head of Macquarie Group’s real estate and banking Bill Moss has bought Tasmania’s Cradle Mountain Lodge with a group of investors, amid a struggling tourism sector.
Moss Capital bought the property for $25 million through CBRE. It previously traded for $21 million in 2009.
Moss advocates investing in the tourism sector, which is struggling due to high Australian dollar, low patronage and cheap flights.
“If we become interested we like to think we can increase the future value,” Moss says.
“You will hear about us buying more tourism assets.”
<img src="/images/stories/cradlemountain3.jpg">
The lodge was developed 25 years ago. The property borders the World Heritage-listed Cradle Mountain and Lake St Clair National Park.
Tasmania had 450,000 holiday arrivals in 2007-08 but this has dropped to fewer than 375,000 visitors according to Tourism Industry Council of Tasmania chief executive Luke Martin.
“There’s been a real softening. We are no different to any other tourism destination in the country, which is a reflection of the high Australian dollar, unprecedented low international airfares and the enormous incentives for Australians to travel overseas,” he told The Financial Review.
Across Australia occupancy rates and average room rate have improved slightly over the last two years, with revenue per available room expected to grow 6% this year, according to Deloitte research.
<a target="_blank" href="https://www.propertyobserver.com.au/leisure/dunk-island-in-fnq-rumoured-to-have-sold-to-linc-energy-boss-peter-bond/2011120252645">The purchase comes as Linc Energy founder Peter Bond spent $10 million on Queensland’s Dunk Island last week as a private getaway.</a>
Moss says he will continue to buy hotels and resorts.
“[I have] private families interested in buying iconic assets.”
The previous owners purchased the lodge in July 2009 for $21 million.
The lodge was opened in 1971 by four Tasmanians after they bought 324 hectares of property on the border of the national park.
In 1984 the lodge was bought by Simon and Anne Currant, who refurbished the property. P&amp;O bought the property in 1988 and did further works before passing it on to Voyages Hotels and Resorts, which sold it on in 2009.
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Former Macquarie Group executive director Bill Moss heads Cradle Mountain Lodge buying syndicate

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Construction has begun on the first of 800 planned homes that make up developer Peet Limited’s new Victorian project Quarters.
Peet has commissioned construction companies Burbank, Carlisle, Metricon and Simonds to build the Cranbourne West homes.
Land prices start at $164,000 for a 294-square-metre block and from $210,000 for a 516-square-metre block. These will increase $15,000 on December 23 when Peet’s discounting period stops.
Quarters was officially launched in February 2011. To date 119 have been released, of which 93 have sold.
The next land release will be in March 2012.
The development is on Evans Road, three kilometres from Cranbourne’s town centre.
Some homes have their frames and roofs built, whiles others are still just foundations in the dirt.
“Quarters offers affordable housing in a high-growth area so, not surprisingly, the community is proving a popular choice amongst first-time buyers and young families,” says Peet Limited managing director and CEO Brendan Gore.
“Peet is offering a variety of lot sizes well-suited to a wide range of home designs that suit different buyers and families.”
The City of Casey is one of the fastest-growing municipalities in Australia, with development concentrated Berwick, Cranbourne, Narre Warren South and Lyndhurst, according to June research by Oliver Hume.
The municipality's population grew by 3.3% over the last 12 months to June 2011 according to state government’s Department of Planning and Community Development.
The median price for houses in Cranbourne West is $318,000.
For advice on buying house-and-land packages, <a href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-buying-house-and-land-packages-what-investors-need-to-know" target="_blank">download our free eBook.</a>
 
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Construction begins on Peet’s Cranbourne development Quarters

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Buying a home became a little bit easier in the September quarter in most capitals for the third consecutive time, according to the latest HIA housing affordability report.
Dwellings became 1.2% more affordable over the quarter, 5.2% more affordable than the same time in 2010.
“Continued earnings growth and a small decrease in the mortgage lending rates worked to further improve housing affordability… These factors more than offset a modest increase in the median house price,” says HIA senior economist Andrew Harvey.
“Affordability looks to now be trending in the right direction, and with interest rate cuts in November and December we will hopefully see this trend continue. However, potential home buyers should be aware that these underlying factors could see housing return to sustained price growth at some stage in 2012.”
<img src="/images/stories/hiadec81.gif">
Housing affordability increased in all Australian capitals, with the exception of Hobart.
Sydney improved 1.9%, Melbourne 0.8%, Brisbane 0.7%, Adelaide 4.5%, Perth 0.4% and Canberra 1.8%. Hobart went down 0.5%.
Affordability improved in all non-metropolitan areas. New South Wales improved 1.2%, Victoria 1.6%, Queensland 0.3%, Western Australia 1.3%, South Australia 6.6% and Tasmania 0.1%.
 
 
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Housing affordability improving slowly in all mainland capitals: HIA

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<div>
<table width="292" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="64">
Postcode
</td>
<td valign="bottom" nowrap width="135">
Suburb
</td>
<td valign="bottom" nowrap width="93">
Median house price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4213
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">SPRINGBROOK</a>
</td>
<td valign="bottom" nowrap width="93">
$350,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4211
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">NERANG</a>
</td>
<td valign="bottom" nowrap width="93">
$370,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4209
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">PIMPAMA</a>
</td>
<td valign="bottom" nowrap width="93">
$380,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4209
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">COOMERA</a>
</td>
<td valign="bottom" nowrap width="93">
$384,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4216
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">COOMBABAH</a>
</td>
<td valign="bottom" nowrap width="93">
$395,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4209
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">UPPER COOMERA</a>
</td>
<td valign="bottom" nowrap width="93">
$405,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4211
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">LOWER BEECHMONT</a>
</td>
<td valign="bottom" nowrap width="93">
$405,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4215
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">LABRADOR</a>
</td>
<td valign="bottom" nowrap width="93">
$405,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4226
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">MERRIMAC</a>
</td>
<td valign="bottom" nowrap width="93">
$408,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4208
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">JACOBS WELL</a>
</td>
<td valign="bottom" nowrap width="93">
$415,000
</td>
</tr>
</tbody></table>
</div>
<div></div>
<div>Source: RP Data</div>
<div></div>
<div></div>
<div></div>
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Top 10 cheapest suburbs on the Gold Coast for house prices: RP Data

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London’s iconic Admiralty Arch is being sold by the UK government through Savills with reported hopes of more than £75 million.
Plans to sell the long leasehold interest in the building were announced in November as part of a bid to levy funds from the government’s property portfolio, saying the building was no longer suitable for modern office working practices.
The building lies on the south-west corner of Trafalgar Square and acts as the entrance to The Mall, which leads to Buckingham Palace.
The 13,685-square-metre building was most recently home to the Ministry of Defence and the Cabinet Office.
“This is a world-famous historic property in a prime central London location and will be of substantial interest to a wide range of organisations and investors,” says Savills director of Savills Robert Seabrook.
The building was originally commissioned by King Edward VII as a tribute to his mother and was completed in 1912 after his death.
The arch was designed by the architect Sir Aston Webb and built by John Mowlem and Co, now owned by construction giants Carillion.
The government says its objective is to protect the building’s heritage and enable public access, meaning it might not go to the highest cash bidder.
The move is part of austerity measures in the UK where civil servants have exited 36 property holdings in central London since last year’s election, reportedly saving more than £90 million.
 
 
 
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Admiralty Arch, a piece of London's history, up for sale

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Australian engineering firm UGL has paid ?77.5 million for the trading operations of global real estate company DTZ Holdings in a distressed sale, a move some analysts say is a poor decision.
DTZ Holdings was placed into administration in the UK immediately prior to the transaction, as part of the deal.
The acquisition will bring the property component of UGL up to 40% from 30% and push property revenue to nearly $2 billion, according to managing director and chief executive of UGL Richard Leupen.
“It brings a very strong presence in Europe that goes back over 200 years,” Leupen told CNBC.
“We will pick up a big presence in the UK and a very significant valuation and research capability that didn’t previously exist.”
The company will also pick up a large presence in China and Singapore, an important move for the company according to Leupen.
The sale will put the company at the “number one-position in China, with nearly 2,000 people in 18 offices across China,” he says.
“Here in Australia we continue to be driven by China.”
But Morgan Stanley analyst Nicholas Robinson says the move might not pay off.
“We believe UGL is buying what is largely a distressed European real estate broker at a time when the European growth outlook is deteriorating,” he says.
“DTZ lacks a real facilities management offering in contrast to UGL’s North American model, suggesting European facilities management capabilities may still need to be developed post acquisition to deliver on global ambitions,” he adds.
However, Robinson concedes UGL has a successful history of integrating acquisitions including US property businesses Equis and Unicco.
Leupen hinted at future acquisitions in English speaking countries, adding it might take some time.
“We’ve got a bit of digestion here before we buy anything else.”
The sale was 100% debt funded, but Leupen is confident that the company retains a strong debt to equity ratio.
“I can tell you from our perspective that the markets are quite a lot healthier today than it was six to 12 months ago,” Leupen says.
“This investment is at the bottom of the [property] cycle, we hope”.
DTZ, founded in the UK in 1784, was ranked top for valuations in China, and in the top three in the UK and European markets.
UGL is a multinational engineering group that provides infrastructure, rail, resources and services. The company has a market capitalisation of over $3.3 billion and annual revenue approaching $4 billion.
 
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Aussie engineering firm UGL buys distressed centuries-old real estate company DTZ

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."

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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.

&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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