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UK rents will rise significantly more than house prices over the next five years, according to research by Savills.
The rise is pushed by rising demand from those unable to buy their own homes and those reluctant to commit in the current market.
“Competition among renters will drive rents higher, with growth in mainstream rents forecast to rise by 20.5% by the end of 2016. This growth significantly outpaces house price growth, which is expected to total just 6% over the same five years,” the report found.
“This differential in capital value growth and rental value growth will push out yields and will be the catalyst for renewed investment activity in the sector by corporates and institutions looking for income rather than individuals looking for capital growth,” says Yolande Barnes, director of Savills residential research.
Median gross yield on residential stock will rise from 5.4% to 6.1% across the five-year period according to the report, and in areas of low owner-occupier demand yields could average as much as 9% by 2016.
In London, capital prices will continue to grow and this growth will remain the major draw for investors.
 
 
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UK rents to outstrip house prices: Savills

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New South Wales mortgage repossession rates were steady in the October quarter.
There were 751 applications between August and October, compared with 745 for the same period in 2010.
But the monthly rate is up slightly on 2010. There has been an average of 246 applications to the NSW Supreme Court per month this year, up from 213 in 2010.
The numbers aren’t a patch on the post-GFC 2009 levels, which had 318 applications per month.
The peak year for possession writs was in 2006, with 447 writs per month in the wake of the low-doc (low document) price boom that swept Sydney's outer-west.
The 2010 tally was the lowest since 2003.
The numbers include applications that were sought but not necessarily proceeded with as court orders.
 
 
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Number of NSW mortgage repossessions holds steady at low levels

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Reader's Feast is coming back to Melbourne after the collapse of REDGroup caused the store to close the doors of its Bourke Street store in July this year.
Owner Mary Dalmau will reopen the store in a 900-square-metre lot in Georges on Collins, having signed a lease with Colliers.
Dalmau plans to open the doors to the new store early next month, just in time for Christmas.
Reader's Feast will take up the mezzanine floor and will stretch from Collins Street through to Little Collins Street.
Ben Tremellen, retail executive of Colliers International, negotiated the lease.
“The Georges building is one of the most iconic buildings along the famous Collins Street strip and to lease the final available space will now breathe new life into the historic building,” Tremellen says.
The REDGroup collapse earlier this year led to closure of 190 bookshops across Australia including Readers Feast.
But Dalmau and four other shareholders bought the bookstore themselves, with Dalmau as the major owner.
''I opened the store for other owners 20 years ago, created it and now, thank God, we are the owners as well, which is fantastic,'' she told The Age.
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Reader's Feast returning to Melbourne

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The liquidators and insurers of collapsed NSW building firm Cosmopolitan Constructions yesterday met the home owners of properties it was contracted to build.
An estimated 130 homes were affected by the collapse of the 47-year-old company, according to insurer’s estimates, and 150 people turned up to the meeting, which ran for more than two hours.
The NSW Fair Trading Department and the Home Warranty Insurance Fund organised the meeting after the collapse two weeks ago, to provide home owners with information on the effect of the liquidation on their home building projects.
After meeting creditors on Wednesday, Nicholas Malanos and Christopher Darin of Worrells Accountants met owners at Ridges Hotel in Rosehill.
In a statement on its website, Cosmopolitan said that during the last year it had remained profitable, but recently it has been slammed with “significant margin erosion” in its projects division.
At the creditors meeting legal representatives reiterated this, attributing the collapse to erosion of profit margin due to the company’s involvement with larger projects.
While most home owners were understandably concerned about the collapse there was a generally positive response to the work and activism of the insurance fund and agents, who advised those affected to file their insurance claims as soon as possible.
The homes affected were in various states of completion, with many now stranded midway through construction.
More than 90% of the people at the meeting were home owners affected by the collapse, the rest being sub-contractors and tradesmen keen to complete work on the projects and to get paid.
The liquidation will only affect Cosmopolitan’s NSW operations, according to Cosmopolitan website.
 
 
 
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Liquidators of collapsed Cosmopolitan Construction meet with home owners

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Mosman dominates the NSW Land and Environment Court neighbourhood disputes over trees blocking views, with the number of court cases having soared since new legislation came into effect in August 2010.
The Trees (Disputes Between Neighbours) Act paved the way for the court to rule on matters regarding trees, hedges and even vines typically after quick one-day hearings with site inspections.
There have been 41 published court judgements across NSW this year. Mosman led the push, with 10 judgements over disputes taking place in the litigious affluent Sydney suburb this year.
Across NSW there were just 10 published cases about obstruction of views in the seven months before the legislation – and then in the last five months of 2010 after the new legislation it jumped to 28 cases.
One Mosman resident faced two concurrent proceedings from neighbours on her north and south sides relating to her bamboo. The applicants wanted the neighbour to remove the bamboo, which she argued provided privacy to her garden and house. The court dismissed both cases.
“We are not satisfied that, as of today, there is any obstruction from any of the viewpoints, let alone a severe one,” Commissioner Linda Pearson noted.
That ruling is a common finding despite the expansion of the laws. Judges found the residents of Mosman to be a little keen in their arboriculture objections, with eight of the 10 cases in Mosman dismissed.
In one Mosman case Senior Commissioner Tim Moore ordered the applicant pay for the capture of a possum that had taken residence in an offending tree. Pruning could only take place when the possum was away, so the neighbour could either remove the possum or hire an arborist to prune the tree in the middle of the night, which was “clearly an absurdity”. (Coleman vs Scern)
In another Mosman case (Boddington v Julianan) Commissioner Judy Fakes was scathing of an applicant’s argument that a row of Leyland Cypress trees in a neighbour’s yard unacceptably obstructed her views of the harbour.
“I find that the applicant is able to obtain expansive views of Middle Harbour and the surrounding district from many positions at the rear of her dwelling. The views the applicant seeks to regain are views in a relatively narrow corridor over side boundaries and those views are affected by vegetation well beyond the respondents' property. I also note that some water views to the west are available from [another vantage point].”
Out of the 31 other cases published by the NSW Court in 2011, 14 were upheld. <a href="https://www.propertyobserver.com.au/residential/pines-face-the-chop-after-tree-court-case-dispute/2011111852424" target="_blank">One was in Watsons Bay.</a> 
The judges were willing to uphold rulings in cases where they found the views acceptably compromised.
In a case in Birchgrove (Sheehy vs jufferman) Fakes ordered the respondent to keep hedges trimmed to a maximum height of 2 metres to restore the applicant’s view of the Harbour Bridge.
“The view of the Harbour Bridge is iconic,” Fakes ruled.
Almost all of the 41 cases involved water views, although there were cases inland including Pymble and Cherrybrook and they tended to relate to issues of sunlight.
In one case the applicant argued that “all east-rising sun is totally blocked” from her Cherrybrook property. In a lengthy review of shadow diagrams, expert testimony and on-sight photography Fakes ruled “the evidence is clear that there is no severe obstruction of sunlight to any window of the applicant's dwelling as a result of the trees”.
“The configuration and aspect of the applicant's dwelling, combined with the plants in the applicant's own garden, are such that the windows on the southern elevation are not capable of receiving direct sunlight even in the absence of the respondent's trees.”
In many cases being pushed through with the new hedge amendment, arguments came down to semantics with the definition of a hedge. Judges found some applicants to be liberal with their definition of a hedge.
Fakes said of a Vaucluse case (Muraben v Elmowy) “The applicant considers that the intermingling of the canopies of the trees can and should be interpreted as a 'hedge'. This could also imply that a forest is a ‘hedge.'”
In a case in Hunters Hill (Ridley v The Owners Strata Plan No 60662) Fakes said: “The critical element is whether they are planted 'so as to form a hedge'. I am satisfied that they meet part of the description in Wisdom v Payn at [45] in that there is ... 'a degree of regularity and arrangement, in a linear fashion, of the trees being considered. Whilst such an arrangement may be more than one tree deep and does not need to be in a perfectly straight line’.”
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Mosmanites who can't see the harbour for the trees take neighbours to court as land and environment cases rise

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Mortgage brokers are not adequately checking the income of applicants, according to research by ASIC.
New licensing requirements and lending obligations were imposed on brokers with the introduction of The National Consumer Credit Protection Act 2009 (National Credit Act), which rolled out from July 2010 to January 2011.
While most brokers were adequately aware of these new responsible lending obligations there was “room for improvement”, a six-month review by ASIC found.
“We undertook this review to assess how the home loan industry was complying with the new responsible lending obligations in the early days of the regime,” ASIC Commissioner Peter Kell says.
“Loans promoted as low doc (low documentation) were a particular focus given the role these products played in the lead-up to the US sub-prime crisis and in equity stripping.”
ASIC found some brokers not verifying income claims by consumers and were simply taking applicants’ word.
“We observed files for home loans promoted as low doc where there was no evidence of any steps taken by the credit assistance provider to verify the consumer’s income,” the report found.
Some brokers failed to record details on what the consumers planned to do with the loans, details of their living expenses or how they would repay the loans.
“ASIC considers that the inquiries and verifications a credit licensee must make to satisfy their responsible lending obligations are scalable depending on the circumstances of the consumer. In some circumstances, fewer inquiries may be needed,” Kell says.
“This does not mean, however, that inquiries and verifications may be scaled down simply because of the label applied to a product, such as low doc”.
 
 
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Mortgage brokers lax on checking up on applicants: ASIC

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Office buildings need to be more bike-friendly to keep tenants happy, according to recent research by Colliers International.
“On-site bike racks, changing rooms and shower facilities are becoming increasingly popular with tenants and there is now greater focus on this by business owners,” writes Colliers national director of research Nerida Conisbee.
“Having sufficient bike racks, changing rooms and shower facilities was seen as less important than having on-site secure car parking in 2005; however by 2010, both factors were seen almost equally as important.”
Looking at future-proofing office buildings the report also found an increased demand for environmental sustainability.
“Increasing costs of energy and a greater focus by tenants and owners on sustainability and workspace performance is a key consideration for owners when future-proofing an existing building,” Conisbee says.
Dicky air-conditioning remains a point of vexation with tenants, consistently rated as important as proximity to public transport.
“Having excellent indoor air quality and thermal comfort has remained one of the most important attributes and ensuring that these systems are working is critical in future-proofing an asset. For building managers, it typically rates high on the list of complaints by user groups,” Conisbee says.
“Similarly, high levels of natural light are also important, and working out ways to open up dark areas within buildings is also critical.”
The report touched on the recently passed carbon pricing mechanism saying projects will aim for maximum environmental rating.
“The main impact on existing buildings is the increase in electricity costs, although much of this increase is expected to occur irrespective of carbon pricing due to investment required in ageing energy distribution infrastructure and new electricity power stations. Either way, this is likely to further increase the desirability of higher NABERS-rated building by owners and tenants in the office sector and drive up the importance of energy efficiency in all other building and industry sectors.”
The report says the scheme will cost $2 to $4 per square meter for a $25 per tonne carbon price, assuming a five- and four-green-star building respectively.
 
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Bike racks one key to securing office tenants: Colliers

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Only a third of 1,100 enclosed regional shopping malls in the US are currently viable, according to The International Council of Shopping Centres.
Developers in the US have been moving away from the enclosed-mall format in favour of big-box centres anchored by free-standing giants such as WalMart.
A shift in online spending as well as large big box retailers like Costco entering the market may see Australia follow suit, says Lisa Scharoun, assistant professor of graphic design at UC.
“The recent bankruptcies of the Colorado Group and the RED group may signal a potential downturn in the viability of the enclosed shopping mall environment in Australia.”
Scharoun says big-box centres have replaced enclosed shopping malls in many areas across the US and pose a threat to public space in urban and social areas with their lack of seating, community spaces and food courts.
“The shopping mall – it’s an essential part of American culture – the quintessential US shopping experience. And Australia isn’t far behind. More and more of us are ditching local stores for the convenience of the one-stop shop.”
“In the newly created American suburbs of the early 1950s, a problem emerged about how to make shopping more convenient when cars were the dominant form of transport.”
“Designer Victor Gruen envisioned a fully enclosed shopping centre that would be ‘the nucleus of a utopian experiment’,” she wrote on <a href="https://theconversation.edu.au/dawn-of-the-dead-mall-will-we-follow-the-us-and-dump-the-shopping-centre-3507?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=a97078fa21-DailyNewsletter&amp;utm_medium=email">The Conversation website.</a>
“He wanted to create a space that would be something more than simply a place to buy essentials.”
“His goal was to design an enclosed interior pedestrian city surrounded by ample parking that would encourage the consumer to linger longer, thus extending the possibilities of socialisation and community.”
“The first fully enclosed mall, Southdale Mall in Edina Minnesota, opened in 1952. Free from the perils of car traffic, Gruen’s dream of an internal pedestrian city was realised,” Scharoun writes
“Gruen’s design called for expansive, windowless cement exteriors, punctuated by ‘big blocks of color and inviting entrance arcades’. The mute exterior of the mall offered nothing to the sidewalks and parking areas and created a distinct divide between the private shop and the cityscape.”
“Instead, the entire streetscape was brought indoors, into the more easily managed interior mall space.”
“The Southdale shopping mall design was so successful that it became the standard for retail construction in America for over 50 years.”
“The impact of the mass reproduction of this centrally controlled, privatised marketplace has been vast," she says.
“The success of Southdale was a catalyst for retail change. Hundreds of shopping malls copied its model across the country. It contributed to the decline of Main Street America and many inner cities across the country.”
“The enclosed shopping mall has proved to re-define the concept of a ‘town centre’ by stripping away the sense of authentic community and freedom that existed in the traditional town centres of rural and urban areas across America.”
“Despite the negative connotations associated with the shopping mall, however, it has been referred to as a “temple of consumerism” and is discussed as offering a replacement for traditional temples of worship in an increasingly secular population.”
“Although the privatised and controlled nature of a shopping mall has led to the homogenisation of public space, the mall has engendered a sense of community amongst specific demographic groups, such as adolescents and the elderly, who use the space as a primary site for identity creation, companionship and social interaction.”
“The enclosed shopping mall has also become a symbol of American culture, and is frequently used as a backdrop for films and popular media depicting the American condition. And the model has been replicated in suburban and urban environments throughout the world.”
“Australia adapted this model very early on, building the first suburban shopping centre, Chermside, in Brisbane in 1957.”
“Myers completed the design for the Chadstone shopping centre in the suburbs of Melbourne around the same period, and so the die was cast: suburban enclosed shopping malls started popping up across the country.”
“According to the Shopping Centre Council of Australia, currently there are 1,338 shopping centres in this country.”
“And, it says, ‘some of the larger centres attract well over 15 million shopper visits per year. Across Australia, there are 1.75 billion shopper visits each year. That means, on average, each Australian visits a shopping centre twice a week’.”
“Shopping trends in Australia are often directly tied to the United States. Research by Morgan Stanley relays that Australia lags behind the US by about five years in their adoption of shopping trends.”
 
 
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Online retailing and big-box centres killing shopping centres: Academic

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McGrath will open two new offices in Canberra, the latest in a series of interstate expansions.
The company will launch branches in Dickson and Woden after entering the ACT market last year with an office in Gungahlin in north ACT.
The Canberra market is holding up better than any other market, says company owner John McGrath.
“Without doubt, Canberra is one of the most exciting real estate regions in Australia at present, having survived better than any other capital the GFC in terms of median price growth and rental demand and yield,” John McGrath says in a McGrath press release.
“Disposable income is 13% higher than the Australian average, unemployment is lower and the population forecasts suggest a growth rate of around 15%.”
McGrath currently has 42 offices, 12 of them opened since the start of this year.
Established in Sydney, the agency has recently expanded interstate operations. In 2009 it branched in Queensland and last year McGrath entered ACT.
Four years ago it started branching out into regional NSW, opening offices around the state.
The Woden office will open this week and will be run by franchisees Greg Ward and Cameron Whitnall.
The Dickson office will open early next year and will cover Canberra’s upmarket inner-northern and inner-southern suburbs
McGrath sold 5,993 homes in the 2011 financial year, which generated $5.7 billion, up from 5,095 properties generating $5 billion in the previous year.
 
 
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McGrath expands from outer to inner Canberra

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Medium-density living in Canberra is rising in popularity amid a shift in ACT government direction towards urban densification, according to a report by Colliers International.
The report shows that units now represent 44% of the Canberra real estate market, up from 31% in 2001.
<img src="/images/stories/colliersnov11.gif">
“Traditionally detached houses have been the main type of dwelling in Canberra,” Colliers International state chief executive Paul Powderly says.
“However, according to our latest research on the apartment market in the ACT, this trend has started to shift, with medium-density dwellings gaining in popularity. In 2010 the number of medium-density dwellings approved exceeded the detached dwelling market.”
Powderly explains that a significant number of new apartment projects have come onto the market in the past 12 months, and all have sold well.
The ACT government’s recent draft planning strategy was launched by Minister for Environment and Sustainable Development Simon Corbell in October.
The strategy is set to guide to development of Canberra over the next 30 years and aims to make Canberra a compact and efficient city. One of the key targets of the strategy is to build 50% of new housing within the established urban area of Canberra and to facilitate a 25% increase in non-detached houses in each district.
“It was pleasing to see the ACT government’s draft planning strategy has recognised this shift and looks at expanding the volume and type of accommodation options available around town centres and along transport route,” Powderly says.
“We know that in major cities overseas people have embraced apartment living as a way to reside close to work and amenities and Canberra looks to be following suit. This will have significant environmental benefits as it reduces commuter traffic and helps protect the capital’s bush setting against urban sprawl.”
 
 
 
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Canberrans moving in closer together as medium-density living on the rise

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

Joel Robinson

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

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

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

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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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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