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Canberra unit investors should look for vendors reselling off-the-plan purchases at a loss, according to Herron Todd White.
Recent construction in Belconnen, Gungahlin and in the inner north and south regions means values have dropped from peak sales at the end of 2010.
“Vendors who are desperate to make a quick sale in current market conditions are generally struggling to get top dollar for their property,” Herron Todd White’s latest monthly report says.
“This presents opportunities for informed buyers, ideally with preapproval and a strong financial grounding to make below-market offers and snare a bargain.”
Those looking for long term capital growth are advised to seek inner city houses. Too many greenfield developments on the outer regions means the best value for money remains close to the city centre and on the Kingston foreshore.
Those looking for positively geared properties are advised to look at two and three bedroom townhouses in Belconnen, Gungahlin and Molonglo.
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awalsh-7Ub9EypybQ

Canberra investors should buy from exiting off the plan vendors

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A price bubble at the lower end of the Sydney market means Vaucluse is now the one of the only attractive suburb for first home buyers, according to Herron Todd White’s September review.
It says there is a boom across Sydney at the lower end of the market spurred on by low interest rates and tight supply, pushing prices into unsustainable levels with the rare exception of Vaucluse which has lower demand for the cheapest units.
“There have been some very recent two-bedroom, one-bathroom, car space unit sales in the $550,000 to $600,000 price range,” the report says.
“This is most likely due to the major demand in this suburb being exclusive family homes with unit demand far less. It may represent good buying, as it is inevitable that units in this area will eventually see strong growth due to the general popularity of the suburb.”
One other suburb flagged as not being inflated is Brookvale in Sydney’s Northern Beaches which it says is currently in oversupply following a spate of new construction.
“Although this has helped produce some relatively cheap buying options at the lower end, it does not bode well for future capital growth over the short/medium term.”
Those looking for short term capital growth are advised to look in the local government area of Holroyd, particularly in suburbs such as Pendle Hill and Wentworthville.
“In these suburbs you can still purchase a detached house on a decent sized block of land 28 kilometres from Sydney CBD and 7 kilometres from Parramatta and within close proximity to major arterial roads and train stations,” the report says.
“The larger sized blocks give the owners an option of a large backyard for the kids or provide developers with options to build a granny flat or land bank for future development if permitted by council.”
“The versatility of these dwellings will ensure it appeals to a wider variety of buyers resulting in higher potential for growth.”
Herron Todd White says there may be some relief for first home buyers as more properties come to market.
“The unique combination of historically low interest rates and severe lack of stock have created a real price bubble at this end of the market,” the report says.
“It has really compounded the difficulty to enter the market for this group of people. There may be a let up with increased supply come springtime and after the election, but for now it remains an extremely tight price point in the market.”


<hr>
<img style="float: left;" alt="JC-torso" height="200" width="145" src="/images/stories/2013/10/02/JC-torso.png"><a target="_blank" href="https://www.propertyobserver.com.au/news/grumpy-first-home-buyers-even-face-investor-competition-for-the-vaucluse-crumbs/2013100165413?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=jonathanchancellor'spropertyinsights"><img alt="JC-words" height="110" width="276" src="/images/stories/2013/10/02/JC-words.png"></a>
"The pinpointing of Vaucluse as an attractive option for first home buyers by the Herron Todd White valuation group was akin to looking outside the gift box a bit.
As the traditional FHB inner city stomping ground kicks along with high auction clearance rates and ensuing price growth, the message from the on-the-ground valuers was sometimes its pays to go to possibly less attractive alternatives before everyone else does.
And that needn't be to the cheaper suburbs, but in this case the virtual blueblood suburb of Vaucluse."
Read Jonathan Chancellor's full insight into how <a href="https://www.propertyobserver.com.au/news/grumpy-first-home-buyers-even-face-investor-competition-for-the-vaucluse-crumbs/2013100165413?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=jonathanchancellor'spropertyinsights" title="Grumpy first home buyers even face investor competition for the Vaucluse crumbs">grumpy first home buyers even face investor competition for the Vaucluse crumbs</a>.
 
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Sydney price bubble means Vaucluse advised for first home buyers: Herron Todd White

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Continuing our series of renovating for under $10,000 Paul Eslick from Reno Kings gives us his guide to maximising profit with minimum outlay.
He says it’s possible to add $100,000 of value to some properties for just $10,000, provided owners learn to do the work themselves.
In general though, Eslick says for every dollar he spends he aims for about a $5 return.
With enough care and an effort, Eslick says it can be possible to do all the following steps for just $10,000.
Paint
“Without a shadow of a doubt the best bang for buck is with paint. I’ve never meant a person who can’t paint and the results are fantastic. We like to start at the top and work down to the bottom. Painting from the outside gives it a lift. We love to increase the street appeal as it gives better value to the tenant who’s driving by, better value to the bank manager who knows where his money is going and more importantly better value for valuer who is doing the restricted assessment – ie a drive by.”
Fence
“Installation of a fence if it doesn’t have one. It’s the frame around the Mona Lisa. The reason the fence would be good value is security for the tenant if they have children and for their pets (in Australia we’re one of the highest pet-owning countries in the world).”
Landscaping
“Some light landscaping. Try and find access off the kitchen to have an area for the indoor-outdoor look. Go and do a paving course for free with Bunnings. Put a paving section in if it’s close to the ground or put in a small deck with a table that fits six people. Have an ABN number and go to the wholesale distributor and you cut out the middle man. Consider doing walkways with stone instead of concrete because you can do it yourself.”
Kitchen
“A quick way to add value to an old kitchen would be to buy laminate paint and paint the front of the doors and buy new handles. If the splashback is tiles, use tile paint and repaint the tiles at the back.”
“Get a good quality, marine grade stainless steel polish and polish the stainless steel sink.”
“Buy single flick mixers for the sink and install them.”
Bathroom
“I’ve seen too many people wasting money throwing out pink baths and odd coloured baths. Invest in Tub 'n' Tile and repaint the baths white.”
“Re-lift the existing tiles by using tile paint. You may paint a bathroom any colour providing it’s white. It will make it bigger brighter and cleaner.”
“Shower curtains and tenants do not mix. Pay the extra for a DIY laminated grass shower screen and install this instead.”
“An old daggy vanity can be replaced quite simply.”
Add an extra bedroom
“I’d look for a big open space in an AVJennings home and put in a $1000 home wall and convert it to a two bedroom house and add $50,000. You take an L shaped room where the dining room used to be, put a wall where the window is and you add a room.”
Window furnishings
“I like putting straight venetian blinds for my window furnishings. The cheap plastic ones seem to break so go up the next level.
Do it all yourself
“You have to be able to do all the work yourself. You can do courses, you can paint, you can do landscaping, building a wall inside is very easy though you may need help with plastering.”
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How to add $100,000 of value with a $10,000 renovation

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Professional renovator Belinda Grundy has seven top tips for the best ways to spend $10,000 to maximise return when renovating. While some of it involves direct cash spending some involves more of a change in thinking.
 
TIP One – Think like a buyer!
You have to disconnect yourself from the property and start looking at it from a buyer’s point of view. Walk through your home and inspect it like a house-hunter and take note of the things or areas you liked and disliked. This will give you an idea on the areas that you need to repair or change. Don’t think like an owner and change hats. This will save you some money.
TIP Two – Know your market.
Time to quiz your real estate agent. Ask them the type of buyer who will buy your home. Also, you have to ask your agent the type of buyers who buy homes in your neighborhood. The information you get will be very useful in deciding how you will charm these kinds of buyers to your home. As an example, if your home is suitable for retirees, then you should highlight the areas that you think most seniors would love to see. These are the parts of your home that you need to spend on to give your prospective buyers a ‘something to consider’ in their decision in buying your home.
TIP Three – The street appeal.
Make the exterior of your home a real ‘head-turner’.  You want to pull those buyers in. Give them the ‘love at first sight effect’. So how do we do this? Stand back and look at your property. You might paint the exterior of your home, pull out all the weeds, add some stones and neat and tidy plants – make your home look picture perfect even from afar.
Do not think that painting your home is costly. Actually, this is the best cost-cutting solution to make something old brand-new. So you want to budget your cash, right? This will really make your home appear well-maintained and even stand out.
TIP Four – WOW rooms.
Choose your room that you want to highlight and devote some of your budget to make this a WOW room. The WOW room is usually the room that made you buy the property. We want the buyers to feel an emotional buy in to this room. We want them to imagine themselves in that room spending their afternoon after a hard day’s work or with their children. For an investor, this room needs to be the room that they know the tenant will suit and love.
How do we create this WOW room? Easy – you can position your furniture to make the room look as large as possible. Make the room feel airy and spacious. Leave good walkways through the room so that people can move around easily.
Creating the WOW room need not be expensive. If you think your furniture seem outdated, you can always hire this in the weeks you need to present your home. Always remember that WOW rooms are about showing off, not overdoing it… and remember it is for your target market.
TIP Five – It’s the little things!
If you’re planning to change something in your home, like your door knobs or furniture, don’t just buy the first thing that you see in improvement stores. First, be mindful of the design you want. Then, you have to scour what’s available. You will be surprised to know that you can find the perfect items for your home at a cheaper price. 
Putting more effort in looking for anything that you need for your renovation can save you more dollars.  Some of my favourite and creative ways are exactly that, going with a contemporary theme of little things like changing fittings - for example tap ware accessories and door handles. 
You would be amazed that a spray of tiles in a 60s bathroom, fix any window furnishings and changing the furniture to replicas can work wonders, all for minimal dollars. A bathroom, for example, with a spray, glass shower screen and fittings could be $1,500
TIP Six – Declutter, clean, organise.
This is probably the simplest way to give your home the appeal it needs and could be free! Everyone wants to enter a home that is clean and neat. Make the floors sparkling clean, remember hygiene sells – doing this will catch the eye of anyone. It gives the impression that this house is really well maintained. If you want to get a cozy effect, aside from being clean, put some fresh flowers on the counter of your kitchen. The smell of fresh flowers gives a feeling of being cared for. Appeal is not only seen through the eyes. Stimulating the senses and allowing no clutter or mess distractions are other ways of putting more appeal to your home and allowing buyers to imagine themselves or their tenant there.
TIP Seven – Light it up!
Install new lights to brighten and open up your home. It’s quite attractive to see a home full of contemporary subtle lights as it gives us a welcoming and cared for impression. Install lights outside your home for the ‘drive-bys’, the entryway, the hallways, the living room – everywhere as much as possible. Having lights all around your home will help highlight the WOW rooms, your street appeal, and the cleanliness and size of your home.
Making your home the ‘beauty queen’ of the market is not costly at all. Just by knowing where to put your money to maximise your home appeal on the market can definitely save you dollars along with broadening your market appeal.
 
<hr>
 Belinda Grundy specialises in pre-sale property presentation. She has a <a href="https://www.propertystylingonline.com.au" target="_blank">DIY Sellers Property Styling Program</a> and an <a href="https://www.bgpropertystyling.com.au" target="_blank">in-home consultation service</a> in Sydney’s Northern Beaches.
 
 
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Belinda Grundy's seven pre-sale renovation tips

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The voting public believe online mortgage providers loans.com.au have the cheapest loans in Australia.
More than 28,000 customers of the mortgage comparison site Mozo.com.au voted  to award Loans.com.au the title of “Australia’s cheapest home loans”.
Loans.com.au has variable home loans rates from 4.49% (5.51% comparison rate).
Managing Director Marie Mortimer encouraged mortgage holders to switch lenders.
“We have interest rates on par with rates in Australia during the 1950s. These awards are always a good reminder for people to consider their loans and decide whether they are paying too much.”
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Loans.com.au has cheapest perceived cheapest loans

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Killcare on the Bouddi Peninsula north of Sydney is Australia’s highest yielding waterfront suburb for houses, according to Real Estate Investar.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/09/30/Highest-yielding-sept-30-big.jpg" title="Click to enlarge"><img src="/images/stories/2013/09/30/Highest-yielding-sept-30-small.jpg"></a>
With a median house price of $725,000 and a median house rent of $2,340, the suburb has a yield of 16.78% for houses.
House prices have dropped 8.81% in the past year while rents have increased 24.46%.
The yield applies to just three-bedroom houses.
Property Observer notes that properties renting at around $2,300 tend to be short term holiday rentals and may not represent year-round fully leased rents.
A three bedroom home at <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/killcare/properties/178503">32 Araluen Drive</a> (pictured below) is listed for short term rent at $2,180 per week. It last sold in 2000 for $550,000, according to RP Data.
{yoogallery src=[images/stories/2013/09/30/kill]}
 
A four bedroom house at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/killcare/properties/178492">61 Grandview Crescent</a> (pictured below) is listed for short term rent at $3,600 per week. It hasn’t sold since 1992 when it went for $342,000.
{yoogallery src=[images/stories/2013/09/30/kill2]}
 
A three bedroom house at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/killcare/properties/178541">16 Macdonald Street</a> (pictured below) is listed for short term rent at $2,650 per week. It last sold for $1.95 million in 2005.
{yoogallery src=[images/stories/2013/09/30/kill3]}
 
And a three bedroom house at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/killcare/properties/178489">38 Grandview Crescent</a> (pictured below) is listed for short term rent at $1,930 per week. It last sold in 2000 for $595,000.
{yoogallery src=[images/stories/2013/09/30/kill4]}
 
Miami, a Gold Coast suburb, is the highest yielding waterfront suburb for units, according to Real Estate Investar.
Studios and one-bedroom apartments have a median price of $110,000 and a median rent of $270 per week giving a yield of 12.76%.
Unit prices fell 25.18% over the past year and rents grew 3.84%.
A two-bedroom unit at 2/84 Dawn Parade (pictured below) recently sold for $387,000. It was marketed for rent the next day at $415 per week giving a yield of 5.58%.
{yoogallery src=[images/stories/2013/09/30/mer]}
 
A one bedroom unit at 26/286 The Esplanade (pictured below) recently sold for $273,000 and was marketed for rent at $290 per week giving a yield of 5.52%.
{yoogallery src=[images/stories/2013/09/30/mi]}
 
In March a one bedroom unit at 35/286 The Esplanade (pictured below) sold for $215,000. In February last year it was listed for rent at $250 per week giving a yield of 6.05%.
{yoogallery src=[images/stories/2013/09/30/mi2]}
 
In December last year a one bedroom unit at 8/28 Chairlift Avenue (pictured below) sold for $230,000. Prior to that it was listed for rent at $340 per week giving a yield of 7.69%.
{yoogallery src=[images/stories/2013/09/30/nob]}
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The highest yielding waterfront suburbs identified

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Eastmark Holdings, a privately held Sydney-based company run by Jin Yong Park, says a proposed $400 million office tower will create a new centre in North Sydney.
The 30-level tower at 1 Denison Street will include 2000 square metres of retail space with a supermarket, restaurants and cafes.
It is a 45,720 square metres grade-A commercial building near Greenwood Plaza and the train station. It has a targeted 5 Star Green Star rating and a 5 Star NABERS rating.
CBRE and capital.z are marketing the property to potential tenants. IAG Insurance and Zurich Insurance Group are both interested, The Australian Financial Review reports.
“Denison Street is basically going to be reconfigured into a new public plaza, like a mini Martin Place,” CBRE director Ari Petrovs told The Australian Financial Review.
He says it will create a “a new heart” in North Sydney.
Average rents in the building will be around $640 per square metre.
Depending on leasing commitments it will be completed in late 2016 or early 2017.
"The office market in North Sydney has little to offer in the way of quality space to any major tenant wishing to relocate there," Derek Zillman of capital.z told The Australian.
"1 Denison will meet this need, and it has the ability to attract tenants from outside North Sydney."
It’s not the only office developer eyeing off North Sydney though. Leighton has plans to develop a 40,000 square metre, 30-level tower while Mirvac and Laing O'Rourke are marketing a proposed $400 million development.
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$400 million office tower in North Sydney to provide new urban centre: developer

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The Reserve Bank of Australia is warning property investors not to expect the sort of price growth that happened in previous booms.
It says people are exposing themselves to more risk in property investing, particularly within the self-managed super fund sector.
“It is important that those purchasing property maintain realistic expectations of future dwelling price growth; in contrast to the decades leading up to the crisis – when dwelling prices grew rapidly in response to disinflation and financial deregulation – long-run future growth in dwelling prices might be expected to be more in line with income growth,” the RBA writes in its Financial Stability Review.
It highlights New South Wales as a market particularly dominated by investors with 40% of home loans going to investors.
“The increase in investor activity has been associated with a recent pick-up in Sydney housing price growth and reports of sale prices exceeding price guidance and valuations by wide margins,” the report says.
It says increased speculation and borrowing by self-managed super funds for property investment presents risks not previously seen in Australia.
“One risk of the increase in property investment by SMSFs is that at least some of it is a new source of demand that could potentially exacerbate property price cycles. It also raises consumer protection concerns in the event SMSF members are exposed to greater financial risks than they envisage,” it says.
“There is also evidence that SMSFs have been a large part of the recent demand by retail investors for the non-common equity capital being issued by banks, as well as hybrid securities more generally.
These instruments attract a high yield as they combine features of debt and equity, and are also quite complex products that carry higher risk than more traditional debt securities.
It is therefore important that these risks are adequately communicated to, and understood by, the purchasers of these products”
There has been a rise in lending to SMSF by smaller lenders and mid-tier banks which is exposing the lenders to higher risks.
“The potential for a further increase in property gearing in SMSFs is a development that will be monitored closely by authorities for its implications both for risks to financial stability and consumer protection.”
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Don't expect price growth like previous booms: RBA

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The Victorian Government will buy almost every apartment in the Evo development in Parkville which will be surrounded by off-ramps from the East West Link.
Of the 158 off-the-plan investors in the building, a reported 156 have taken up Linking Melbourne Authority’s offer to buy their apartments before settlement.
The remaining two will either sell with 90 days of settlement or keep the apartments and apply for compensation later.
Those who accepted the plan now have to wait for the valuations of the apartments which are due by next Thursday.
The LMA says the valuations will be unaffected by the impending East West Link construction.
It is also in negotiations with the developer to buy the remaining 17 unsold apartments.
The buyback will reportedly cost somewhere in the vicinity of $90 million.
Buyers in the Pace Development Group had been demanding action from LMA after plans for the massive freeway development revealed the tower would <a href="https://www.propertyobserver.com.au/developments/doubt-cast-over-jardin-australand-parkville-project-but-evo-buyers-caught-in-east-west-link-plans/2013071663349">literally be surrounded by off-ramps</a> up to five-storeys high.
<img alt="evo-sept-26-one" height="276" width="470" src="/images/stories/2013/09/26/evo-sept-26-one.jpg">
Earlier this month <a href="https://www.propertyobserver.com.au/victoria/napthine-government-to-buy-east-west-link-affected-units/2013091164968">LMA offered buyers three compensatory options.</a>
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Almost every buyer in freeway affected Evo to sell to government in circa $90m deal

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The Western Australian governing is seeking expressions of interest for a 125 hectare residential development in Port Hedland in the Pilbara.
The Styles Road site is earmarked for a mix of single residential and medium density lots.
The site is next to the Pretty Pool residential estate and four minutes from the Port Hedland CBD
Regional Development and Lands Minister Brendon Grylls said the site provided a rare opportunity for a landmark development.
“It would allow a developer with vision to make their mark on the region,” Grylls said.
“Submissions can be made for all or part of the site and LandCorp will encourage innovative developers who want to build sustainable housing that works in the Pilbara’s climate.”
Other projects currently under way in Port Hedland include the Athol Street, Cooke Point Project; the Spoilbank Marina Precinct; the old hospital site; and the Pretty Pool residential development.
Expressions close on October 31 and the winner will be announced before the end of the year.
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Government seeks expressions of interest for 125 hectare Port Hedland residential project

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

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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."

[smartcode_project:default project_id=151449 project_image_fid=357463]

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

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>.

[smartcode_project_cta:default project_id=151449]

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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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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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.

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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;

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<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;

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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;

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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;

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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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