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La Trobe University, Parkville, Monash Clayton and Sunshine are all tipped to be included as future employment hotspots in Melbourne’s new 40 year vision paper to be released Wednesday.
The Napthine Government is replacing Labor’s Melbourne 2030 plan in a new strategy which Fairfax says will outline key housing and employment growth areas and transport priorities.
It reports the draft will expand on a vision in the previous paper which creates services, entertainment and jobs within 20 minutes of residential areas.
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Four Melbourne suburbs to become employment hubs

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Realestate.com.au has revealed the suburbs most-searched for by property buyers in Australia.
The South Australian suburb of Parkside tops the list, followed by Freshwater in NSW and Belair in South Australia.
The list is published every quarter.
Belair, Ashwood, Blackburn South and Stanmore are all newcomers to the list, while Freshwater, Fullarton and Newmarket regained popularity with buyers after dropping off last quarter.
The top 10 suburbs are:
1. <a target="_blank" href="/news">Parkside </a>(SA)
2. <a target="_blank" href="/news">Freshwater </a>(NSW)
3. <a target="_parent" href="/news">Belair</a> (SA)
4. <a target="_blank" href="/news">Newmarket </a>(QLD)
5. <a target="_blank" href="/news">Surrey Hills</a> (VIC)
6. <a target="_blank" href="/news">Ashwood</a> (VIC)
7. <a target="_blank" href="/news">Blackburn South</a> (VIC)
8. <a target="_blank" href="/news">Fitzroy North </a>(VIC)
9. <a target="_blank" href="/news">Stanmore </a>(NSW)
10. <a target="_parent" href="/news">Fullarton </a>(SA)
Parkside also took out top spot in the website's <a target="_blank" href="/news">July report</a>. 
At the same time last year the top 10 suburbs were:
1. <a href="/news">Parkside</a> (SA)
2. <a target="_blank" href="/news">Norwood </a>(SA)
3. <a target="_blank" href="/news">Walkerville </a>(SA)
4. <a target="_blank" href="/news">Hazelwood Park</a> (SA)
5. <a target="_blank" href="/news">Mont Albert</a> (VIC)
6. <a target="_blank" href="/news">Clifton Hill</a> (VIC)
7. <a target="_blank" href="/news">Park Orchards</a> (VIC)
8. <a target="_blank" href="/news">Unley </a>(SA)
9. <a target="_blank" href="/news">North Rocks</a> (NSW)
10. <a target="_blank" href="/news">Carlton North</a> (VIC)
 
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Top 10 most searched for suburbs in Australia

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A number of property analysts say the Cairns property market is on the verge of a recovery, but mainly for houses.
Property prices in the far north Queensland town suffered greatly during the global financial crisis but it may be about to spring back.
“The Cairns market is improving. Once again detached housing very much so, with units there isn't much improvement there. It’s much more investor driven and run by employment,” Tim Lawless says.
“Cairns is benefiting from more air travel coming in from China which is having a real impact on the local economy but values are still a lot lower than 2007. It will take a long time.”
Herron Todd White say the market there is nudging close to a recovery but there are still low priced opportunities to be found.
“Pockets of low priced housing exist in a number of suburbs, but the traditionally cheaper areas are <a href="/news">Manoora</a>, <a href="/news">Woree</a>, <a href="/news">White Rock</a> and the lower parts of <a href="/news">Mooroobool</a>,” Herron Todd White’s latest monthly report says.
“House prices in these areas tend to start at around $200,000 and show median prices of around $270,000. Also worthy of consideration are <a href="/news">Manunda</a>, <a href="/news">Bungalow</a> and <a href="/news">Westcourt</a>, which are in a better ranked socio-economic stratum but still show median prices sub $300,000.
“The unit market is showing large numbers of properties for sale and units have become extremely difficult to sell unless at bargain basement prices.”
Buyers agent Rich Harvey says investors are still slightly.
“I have put a couple of clients into the Cairns market many years ago, and it's coming back on a few peoples radar but it's very tourism reliant. There's a bit of agriculture, but it's not as diverse as Townsville. Townsville has defence, education, mining and agriculture.”
Data from the REIQ released on September 6 shows house prices remained unchanged for the year ending June 2013 across the Cairns LGA. Over the quarter house prices fell 2.6%.
But certain suburbs have performed quite well. House prices in <a href="/news">Clifton Beach</a> rose 18.5% over the year, 10.3% in <a href="/news">Gordonvale</a> and 9.7% in <a href="/news">Smithfield</a>.
Over the quarter <a href="/news">Mount Sheridan</a> was the strongest performer, followed by <a href="/news">Bentley Park</a> at 9.4% followed by <a href="/news">Bayview Heights</a> at 8.7%.
The unit market didn’t perform quite so well with prices fall 9.3% for the year across Cairns and 10% over the past quarter.
<a href="/news">Manoora</a> and <a href="/news">Trinity Beach</a> were the only unit markets to increase in value over the quarter, going up 9.4% and 5.1% respectively. Compare that to Cairns City where prices fell 38.1%.
The current median house price in <a href="/news">Clifton Beach</a> is $523,000.
A four bedroom home with a swimming pool at <a href="https://www.realestate.com.au/property-house-qld-clifton+beach-111009839">5 Spur Close</a> is listed for sale at $509,000. It’s been on the market for more than a year. In 2005 it sold for $385,000, according to RP Data.
A five-bedroom home with an even bigger pool at <a href="https://www.realestate.com.au/property-house-qld-clifton+beach-114749659">50 Endeavour Road</a> is on the market for $530,000. In 2005 it was on the market, but didn’t sell, for $420,000, according to RP Data.</body></html>

Cairns property market poised for recovery in houses

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A 100-site retirement village on the far south coast of New South Wales has been listed for sale.
Homes in the 8 hectare Acacia Ponds Village near Merimbula are owner occupied but residents pay a weekly rent of around $85 per week for the land.
Home sites advertised on the <a href="https://www.acaciaponds.com.au/forsale.htm">website</a> are priced from $195,000. Residents who wish to resell their house must pay a commission to do so and must sell to someone aged over 50 who will sign a lease with the management.
The site is currently run by Manor Park Homes
The estate has been listed by CBRE’s Andrew Jackson.
“We expect strong interest in this Manufactured Home Estate, from both local and interstate buyers because of the solid consistent rent returns and room for upside,” Jackson says.
“With 100 approved sites, 83 of which have homes providing a weekly rental, the village provides an incoming purchaser with great returns upon purchase. Additionally, there is potential to fill the remaining sites and significantly increase income both through development profits on home sales as well as the increased rents subsequently being generated.”
CBRE recently sold the Oaklands Village Manufactured Home Estate in Wollongong to Alceon in an off market transaction for $13.4 million.
“These assets offer a secure, consistent income source and are relatively passive. Our ageing yet mobile population is also drawn towards the relatively low cost housing options offered by manufactured home villages, which also provide a range of facilities and a great community atmosphere, which means that they generally have little to no vacancy,” Jackson says.
“This depth to the market is evident by the crisp yields being paid for quality parks, with upside potential such as revenue uplift through rental increases or further expansion potential.”
<a href="https://www.realestate.com.au/property-villa-nsw-millingandi-110724117">Home 84</a> was the most recent sale in the village, according to RP Data. The two bedroom weatherboard home sold in May after being listed for six months at $185,000.
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Retirement village listed on NSW south coast

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The New South Wales government has introduced stricter controls on the activities of coal seam gas (CSG) companies.
It has expanded exclusion zones which limit CSG operations close to residential areas.
There will be an additional level of scrutiny applied to potential CSG projects within the 2.8 million hectares of land identified as the state’s most valuable farming land.
The so called Gateway process examines the impact of resource development on agriculture and water.
The regions included are the Central West; Mid and Far North Coast, Southern Highlands, Western, South Coast and Illawarra.
Minister for Primary Industries Katrina Hodgkinson says the reforms ensure the integrity of important agricultural land.
“When the NSW Government released its Aquifer Interference Policy last September, it ensured this State put in place the best groundwater protection framework of any jurisdiction in Australia,” Ms Hodgkinson said.
“Today’s announcement takes the NSW Government one step further towards balancing the responsible growth of the mining and resource industries with the needs of primary industries and communities.”
The reforms identify residential villages which weren’t previously protected. And it identifies future growth areas in 56 council areas across NSW.
Minister for Planning and Infrastructure Brad Hazzard said the Government was pleased to put in place the first stage of CSG exclusion zones.
“We always said that we would also examine the exclusion zones in future proposed residential areas – along with rural residential areas which could be regarded as villages – and are now seeking feedback on this,” Hazzard said.
“Importantly, however, the Government has also made it clear that, now we’ve defined these sensitive areas, we will fully support mining proposals which are in the right places and pass our rigorous and independent assessment system.”
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Stricter controls imposed on CSG near residential areas

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Homeowners in NSW can publicly register their intentions to sell on a newly launched website.
Nextforsale.com.au lets owners indicate their interest in selling while those looking to buy can see which properties are likely to be listed.
There are two million NSW properties listed on the site which buyers can request to be notified about when they come to market.
Those paying to have their properties listed on the site include Colliers International and Crown International
The website allows businesses offering property services to contact those who list their intention to sell and request an introduction.
Real estate agents, financial institutions, valuers, pest and building inspectors, conveyancers, property photographers and others can offer their services to buyers and sellers.
Herron Todd White, EYEON, Teddington Legal, Vengent and Top Snap are the launch partners offering their services on the site.
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New website allows owners to advertise their intention to sell

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Unemployment will limit future property price growth, according to CBRE.
Population growth, stock scarcity and strong rental conditions in most cities will provide stability, but unemployment needs to be kept under control to ensure capital growth, according to , CBRE’s Sam Reilly.
“GDP growth and forecasts are trending down in the short term and jobs and income growth is commensurately soft,” Reilly says.
“We believe that broad based growth in job markets is still fundamental for a sustained recovery in residential capital values and at this point an improvement in the economy is not expected until the second half of next year.”
In Perth a slowdown in resources spending is expected to impact the market. In Adelaide sales volumes and capital growth are gradually improving though the employment outlook is hindered by a struggling manufacturing sector. And in Canberra there are significant challenges due to the expected contraction of the public service.
CBRE’s Tom Edwards says improvement in sales volumes was most apparent in the lower price brackets where there was improved affordability.
“The higher volume of stock that is expected to come to the market over Q3 and Q4 will provide the most accurate illustration of the strength of the residential market,” Edwards says.
“While auction clearance rates are currently quite high, we will have a more complete view of the market when buyers have greater choice than what is currently available.”
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Unemployment will limit future price growth: CBRE

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The Reserve Bank of Australia has left the official cash rate unchanged at 2.5%, in line with analysts' predictions.
It’s the second month in the row the Bank has left rates unchanged at a 53-year low.
All nine analysts queried by Finder.com.au <a target="_blank" href="/news">predicted no movement in the official cash rate</a>.
And all 33 economists surveyed by Bloomberg predicted no change for October.
But 12 of the 33 predicted a rate cut of 25 basis points for November.
The next RBA Board meeting is on November 5.
The Bank has previously cut rates in August 2013, May 2013, December 2012, October 2012, June 2012, May 2012, November 2011 and December 2011.
RP Data's Tim Lawless says the current interest rate setting is providing an appropriate level of stimulus. 
He says housing values across the combined capital cities have recently reached a new historic high after recording a 7.7% peak to decline correction between October 2010 and May 2012. 
"Not only are home values up by 8.7% since the recovery trend kicked off in June last year, but there has also been a sharp improvement in the level of credit demand for new housing," Lawless says.
The number of mortgage commitments for new housing has risen by more than 50% over the 12 months to July, mortgage activity is continuing to trend higher indicating that housing finance demand is continuing to gather momentum as the market moves through spring.
"Dwelling approvals have also been trending higher which is another positive sign that the low interest rate setting is flowing through to new housing investment which is one of the key desired outcomes from the low cash rate setting," he says.
"While the housing market is broadly tracking consistently higher in value, the benefits of the low mortgage rate environment aren’t being felt across all regions.  Dwelling values across Australia’s third largest city, Brisbane, have hardly budged over the last year and dwelling values are lower over the year in both Adelaide and Hobart. 
"Additionally, momentum has left the Perth and Darwin housing markets with values rising by just 1.3% and 0.1% respectively over the past three months.  These cities would certainly benefit from mortgage rates remaining at their low setting."
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RBA leaves rates unchanged

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Brisbane investors should be prepared to outlay enough to buy a blue-chip investment if they wish to take advantage of a looming property recovery, according to Herron Todd White.
Brisbane’s fundamentals are strong but it’s real estate is still affordable, Herron Todd White says in its latest report.
“If history is set to repeat, than it would be fair enough to think we might start to see some reasonable growth going into 2014, particularly as the election will be well and truly behind us,” it says.
The report advises investors to look at properties as blue chip as possible.
“We realise this can be a little bit tough when the kick-off price for property in a suburb like Paddington now sits mostly over $700,000, but maybe now is the time to aim for true entry level in good locations,” it says.
“Stay as close as you can to town and try to be near great lifestyle facilities. Once you’ve found your favoured locale, check the budget and buy the best quality property you can afford.”
Those with slightly less to invest should be looking at second hand units near city locations away from busy roads and train lines.
They are usually quite big and any dodgy floor plans can be easily changed.
“If you have $350,000 to $400,000 there is most defiantly something out there for you in this sector. The great thing is these properties makes terrific starters for first home buyers.”
First home buyers are advised to buy these properties then hold on to them when they buy again.
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Brisbane investors should buy blue chip: Herron Todd White

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Melbourne bargain hunting investors should seek properties in Frankston North, according to Herron Todd White.
“Our pick for ‘dirt cheap’ (if there is such a thing?) is in Pines Estate Frankston North (ex-commission area built in the 60s),” Herron Todd White says in its latest monthly report.
“This market remains below its 2010 peak and between $220,000 to $260,000 can get you a solid 60s brick veneer with three bedrooms, and one bathroom (they’re all pretty similar) on a good size block.”
They tend to yield around 5.5% to 6% and Herron Todd White says they can be cash flow neutral depending on the mortgage.
“Long term capital growth is expected from these low base price levels,” the report says.
“Case in hand is <a href="https://www.realestate.com.au/property-house-vic-frankston%20north-114322559">37 Aleppo Crescent</a> which is under contract for $236,000 with a good tenant paying $270 per week. Land size is around 600 square metres improved with a neat and tidy but original 3-bedroom, 1-bathroom dwelling. With an interest only loan this property is cash flow positive for most investors.”
Nearby <a href="https://www.realestate.com.au/property-house-vic-frankston+north-105036326">53 Rosemary Crescent</a> was listed for sale at $215,000 to $260,000. It was recently listed for rent at $250 per week giving an approximate gross yield of 5%.
And nearby <a href="https://www.realestate.com.au/property-house-vic-frankston+north-111471851">39 Candlebark Crescent</a> is listed for sale for more than $255,000. It was last advertised for rent at $240 per week giving a potential gross yield of 4.89%.
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Melbourne bargain hunters should look to Frankston North: Herron Todd White

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

Joel Robinson

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Alistair Walsh

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