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<img src="/images/stories/2013/01/minus4point4percent.gif">
 
The capital growth for Darwin houses in December, according to RP Data. House prices are up 7.6% for the year to a median price of $550,000. The median house yield is 6.1%.
 
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<img src="/images/stories/2013/01/minus0point9percent.gif">
The capital growth for Sydney houses in December, according to RP Data. House prices are up 1.3% for the year to a median price of $665,000. The median house yield is 4.3%.
 
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<img src="/images/stories/2013/01/0percent.gif">
The capital growth for Brisbane houses in December, according to RP Data. House prices are down 0.5% for the year to a median price of $440,000. The median house yield is 4.7%.
 
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<img src="/images/stories/2013/01/0point1percent.gif">
The capital growth for Adelaide houses in December, according to RP Data. House prices are down 0.8% for the year to a median price of $395,000. The median house yield is 4.3%.
 
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The capital growth for Perth houses in December, according to RP Data. House prices are up 0.6% for the year to a median price of $493,000. The median house yield is 4.5%.
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<img src="/images/stories/2013/01/0point5percent.gif">
The capital growth for Melbourne houses in December, according to RP Data. House prices are down 2.9% for the year to a median price of $550000. The median house yield is 3.6%.
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<img src="/images/stories/2013/01/0point7percent.gif">
The capital growth for Hobart houses in December, according to RP Data. House prices are down 0.5% for the year to a median price of $325,000. The median house yield is 5.4%.
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Darwin house prices up 7.6% in 2012: An RP Data state-by-state analysis

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8/127-129 Polding Street, Fairfield Heights, NSW, 2165 <img alt="polding" height="353" width="470" src="/images/stories/2012/12/polding.jpg">
There is no pre-Christmas slowdown in the market in Fairfield Heights, according to Ray White agent Graham Ball, who is marketing this three-bedroom house. 
"We're going to be busy right up until Christmas Eve," says Ball.
"The market is buzzing along in our area."
The townhouse is within easy walking distance of Fairfield Heights Shopping Centre and has a bus stop out the front. It is currently leased until April for $460 per week, which Ball says is a great return for the property. He says the tenants are keen to stay on longer if possible. 
Ball <a href="https://www.raywhite.com/nsw/fairfield-heights/889178/" target="_blank">is marketing the property</a> with price hopes of around $350,000, and if it sells for that price, that would secure an investor a gross rental yield of 6.8% at its current rent, well above the gross rental yield for Fairfield Heights houses of 5.1%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $28,000.
The median house price in Fairfield Heights rose 0.6% in the past year and rose 30.3% in the past five years, according to RP Data.
For more information about prices and yields in <a target="_blank" href="/news">Fairfield Heights, see the RP Data suburb page.</a>
The property will go to auction on December 22 at noon.
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Friday form guide: Yields of up to 6.8% in the last pre-Christmas auction weekend

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Developer Hamton is adding luxury riverfront homes to the mix of housing currently in the works or built in the inner-Melbourne suburb of Abbotsford, which is becoming something of a development hotspot. 
<img src="/images/stories/2012/12/riverhaven.jpg">
Hamton's Riverfront Terrace Homes at Haven will comprise 15 two-level residences, with nine already sold since the July launch. Two-bedroom homes will start from $820,000, the three-bedroom terraces start from $930,000, and the four-bedroom models start from $1.91 million.
<img src="/images/stories/2012/12/riverhaven2.jpg">
The Hamton project is one of several that were approved before the Victorian government instituted a nine-storey height limit on all new development abutting the Yarra River. 
Hamton joint managing director Paul Hameister says the homes, about five kilometres from the CBD, are affordably priced.
“We wanted to design a series of high-end homes where the natural surrounds were the hero, creating an urban yet quintessentially Australian lifestyle in the heart of Melbourne. Riverfront homes in this location sell for well in excess of $6 million, meaning our low-maintenance homes represent outstanding value,” says Hameister.
<img src="/images/stories/2012/12/havenriver.jpg">
Many of the homes include a private walkway to the rivefront Yarra Trail.
The Riverfront Terrace Homes at Haven part of stage two of Hamton's three-part Abbotsford development. The first stage was the 201-unit Eden, with all units sold out. The second stage is Haven, with 75% of its 148 units sold since its launch just over a year ago. The three together are set to have 560 apartments. 
“With Eden, we were overwhelmed with demand from owner-occupiers currently living in the affluent suburbs across the river from our site," says Hameister.
“They were looking for larger luxury apartments with high-end finishes, allowing them to downsize to a low maintenance lock-up-and-leave lifestyle in essentially the same location as their current home. We have sought to address this demand with Haven.”
<img src="/images/stories/haven3.jpg">
Haven's apartment component will include a mix of one-, two-, three- and four-bedroom units. One-bedroom units will range in size from 41 square metres to 72 square metres internally and are priced between $365,000 and $581,000. Two-bedroom units will be between 66 square metres and 134 square metres internally and range in price from between $680,000 and $1.3 million. Three- and four-bedroom units will be between 124 square metres and 235 square metres internally and are priced between $1.38 million and  $3.9 million.
Between Haven and Eden will be Acacia Place, a series of landscaped spaces and a public walkway connecting the Yarra to Victoria Street.
“One of the key elements of our master plan for the site is Acacia Place, which allows the public to share this unique piece of river bend and bring activity and vibrancy to the precinct,” Hameister says.
 
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<a target="_blank" href="/news">Abbotsford </a>is shedding its industrial past and buyers look for inner-city living on the Yarra River.
Some developers are revamping the existing factory and warehouse buildings to create contemporary designs with a nod to the past, while others are going the more modern route.
<img src="/images/stories/trenerry-river.jpg">
One example of the former is the Trenerry project (pictured above and below), a 109-unit development in a heritage industrial building. All 109 have been released to the market, with the final release of 33 launching in July. Some 87 units have sold, including more than a third of the final release.
“It also features a chimney stack, giving Trenerry a look and feel that is unmistakably Abbotsford,” says Rob DiCintio, director of Trenerry Property Group.
<img src="/images/stories/trenerrycar.jpg">
Builder Hamilton Marino has begun construction on the development, which is due for completion in mid-2013.
The apartments went on sale in October last year.
Its one-bedroom, one-bathroom apartments are priced from $465,000, with the two-bedroom, two-bathroom apartments from $530,000. Both configurations come with one car park. Some 92 of the two-bedroom apartments will have two-bathrooms, along with all the three-bedroom apartments.
The average apartment size will be 75 square metres internally, plus all apartments come with balconies, offering riverfront, CBD or Studley Park views. The development comes with easy access to the Capital City Trail.
It has been designed by Carabott Holt Architects.
 
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<img src="/images/stories/greensquare2.jpg">
A developer taking the opposite approach in Abbotsford is Salta, whose Green Square development (pictured above and below) is ultra-contemporary with an emphasis on sustainability.
Far from an industrial focus, the appropriately named Green Square aims to embrace the natural environment, with numerous open spaces for residents.
<img src="/images/stories/greensquare1.jpg">
“The architectural vision for Green Square is to bring together the energy of contemporary urban living with the calm and gentle amenity of the adjoining Yarra River that will imbue the green open spaces permeating the project,” says Charles Justin of SJB Architects, which is designing the project.
The development will feature 467 one- and two-bedroom apartments across four buildings, 210 one-bedroom units and 257 units with two bedrooms. Just over 300 apartments have sold so far. Of the two-bedders, 222 will include two bathrooms.
One-bedroom apartments will range in size from 47 square metres to 57 square metres and start from $369,000.
<img src="/images/stories/greensquare5.jpg">
Two-bedroom apartments, which start from $525,000, range in size from 63 square metres to 92 square metres. All of the units come with outdoor areas.
<img src="/images/stories/greensquare6.jpg">
The development launched in February 2011. Construction has started and is due to finish in May 2014.
So far, two-thirds of buyers who have been owner-occupiers.
Jack Merlo of Jack Merlo Design says buyers are drawn to a sense of community fostered by the project.
<img src="/images/stories/greensquare7.jpg">
“The importance of recreational space is often overlooked when designing residential apartments – we have been fortunate to set a new precedent with Green Square. The combination of semi-secluded and open spaces encourages people to indulge in private and public amenities including an edge pool, barbecue areas, day beds and shaded spaces,” Merlo says.
And other developers agree.
“The desire for waterfront living in city-fringe areas is an evolving trend in the Melbourne market,” says Rob DiCintio, director of Trenerry Property Group.
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Hamton's riverfront homes the latest in Abbotsford living as Melbourne suburb sheds industrial past

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After a long period of falling dwelling values, Brisbane's property market is showing signs of a turnaround, according to Australian Property Monitors.
"Brisbane has at last give positive indications of turning the corner from what has been a prolonged period of falling house prices," says APM.
"This is despite an underperforming local economy with unemployment rates persistently above 6% due in large part to state government job cuts."
APM predicts that investors will return to Brisbane in 2013 and forecasts house prices in Brisbane to rise from 3% to 5% in the new year. 
"Established inner and middle-suburban housing markets will continue to attract value buyers. High listings in the outer suburbs, particularly to the north, will however continue to place a lid on prices growth in those regions.
"The inner-city apartment market looks particularly promising with Hamilton and New Farm set to continue their renewal and expansion."
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<a rel="shadowbox" href="/images/stories/2012/12/apmdec18.gif" title="Click to enlarge"><img src="/images/stories/2012/12/apmdec18thumb.gif"></a>
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<img src="/images/stories/2012/12/apmdec182.gif">
Source: APM
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Brisbane property market turning the corner: APM

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Melbourne's median house price increased by a "relatively subdued" 0.5% for the first 10 months of 2012, according to Australian Property Monitors. 
"Melbourne’s housing market saw increased activity from first-home buyers and a lift in buyer activity in the prestige market," says APM. 
"Investors and first home buyer are set to remain relatively inactive as a consequence of Australia’s least competitive capital city rental market."
APM notes a "looming oversupply" of apartment stock coming on line and as a consequence forecasts high vacancy rates, stagnant rental growth and falling unit prices in the Victorian capital. 
 
"Melbourne house prices should increase by up to 3% in 2013."
This is below expectations for many other capital cities.
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<a title="Click to enlarge" href="/images/stories/2012/12/apmdec131.gif" rel="shadowbox"><img src="/images/stories/2012/12/apmdec132.gif"></a>
 
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<img src="/images/stories/2012/12/apmdec171.gif">
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Melbourne house prices in 2013 - zero to 3% forecast range: APM

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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/chateau-le-marais-the-fink-family-s-wallis-island-%2420-million-mansion-listing/2012120958356"><img src="/images/stories/2012/12/20m1.gif"></a>
The price hopes the Fink family have for <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/chateau-le-marais-the-fink-family-s-wallis-island-%2420-million-mansion-listing/2012120958356">Chateau Le Marais, </a>an imposing neo-classical five-bedroom residence built of stone masonry on its 105-hectare estate on Wallis Island. 
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/12/68percent.gif"></a>
The percentage of mortgage holders surveyed by Nielsen who said their<a target="_blank" href="/news"> number one financial goal </a>was to pay off their home loans, confirming the view that Australians regard owning their home outright as key for their financial future.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/news/john-so-snaps-up-west-melbourne-mixed-use-terrace-offering/2012120958361"><img src="/images/stories/2012/12/2point28m.gif"></a>
The price former <a target="_blank" href="https://www.propertyobserver.com.au/news/john-so-snaps-up-west-melbourne-mixed-use-terrace-offering/2012120958361">Melbourne lord mayor John So paid for two double-storey Victorian terrace houses</a> combined into a single property on William Street in West Melbourne. The combined seven-bedroom ornate Victorian terrace came with mixed-use zoning.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/12/0point1percent.gif"></a>
The amount by which <a target="_blank" href="/news">owner-occupied housing finance commitments rose in October,</a> according to the ABS. This was well below market expectations of 3%, with Westpac forecasting the number of loans to owner-occupiers to rise by 3.4% in the month.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/landlords/perth-and-darwin-register-double-digit-annual-rental-growth-defying-flat-market-reia/2012121158424"><img src="/images/stories/2012/12/15point4percent1.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/landlords/perth-and-darwin-register-double-digit-annual-rental-growth-defying-flat-market-reia/2012121158424">annual rent increase for three-bedroom houses in Perth</a>, which was the best-performing rental market in the 12 months to September, according to the Real Estate Institute of Australia. 
 
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<a target="_blank" href="https://www.propertyobserver.com.au/queensland/thursday-flicker-4-cooktown-queensland-s-slowest-suburb-top-10/2012121258431"><img src="/images/stories/2012/12/258.gif"></a>
The average number of days it takes to sell a property in Cooktown,<a target="_blank" href="https://www.propertyobserver.com.au/queensland/thursday-flicker-4-cooktown-queensland-s-slowest-suburb-top-10/2012121258431"> Queensland's slowest-selling suburb</a>. 
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/thursday-flicker-2-residential-property-prices-to-rise-6-in-2012-shane-oliver/2012121258437"><img src="/images/stories/2012/12/5percent1.gif"></a>
The amount by which <a target="_blank" href="https://www.propertyobserver.com.au/residential/thursday-flicker-2-residential-property-prices-to-rise-6-in-2012-shane-oliver/2012121258437">AMP Capital chief economist Shane Oliver</a> predicts property prices will rise in 2013. Oliver expects only modest returns for property investors compared with other asset classes.
 
 
 
 
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The 7 must-know numbers of the week, starting with the price hopes for Chateau Le Marais

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3A Bamfield Street, Yagoona, NSW 2199 <img width="470" src="/images/stories/2012/12/bamfield.jpg">
This one-year-old, four-bedroom duplex is currently tenanted at $600 a week to tenants on an expired lease who are keen to stay on. It includes a single lock-up garage and two bathrooms. 
Raine &amp; Horne listing agent Charlie Wakim <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/253909" target="_blank">is marketing the property</a> with price hopes of $500,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 6.2% at its current rent, well above the gross rental yield for Yagoona houses of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $13,000 and over five years to be $45,000.
The median house price in Yagoona fell 2% in the past year but rose 27.2% in the past five years, according to RP Data.
For more information about prices and yields in <a target="_blank" href="/news">Yagoona, see the RP Data suburb page.</a>
The property will be open for inspection Saturday, December 15 at 3pm and will go to auction on December 22. 
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Friday form guide: Yields of up to 6.2% in Yagoona

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Sydney's median house price grew 1.5% in the 10 months to October, according to Australian Property Monitors.
"Sydney’s low and mid-price range housing markets will continue to attract solid buyer activity through 2013, particularly in the inner west, Canterbury-Bankstown and Hills suburban areas," says APM. 
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/12/apmdec14.gif" title="Click to enlarge"><img src="/images/stories/2012/12/apmdec14thumb.gif"></a>
<img src="/images/stories/2012/12/apmdec141.gif">
Source: APM
 
 
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'Reasonable momentum' for Sydney's housing market in 2012: APM

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Melbourne had the highest gross value of unit sales in 2012, according to RP Data.
The mining boom town of South Hedland showed the highest increase in median unit values in the past five year. 
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/12/rpdec133.gif" title="Click to enlarge"><img src="/images/stories/2012/12/rpdec133thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
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The Rocks and Carlton feature on RP Data's top 10 best-performing unit locations of 2012

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The RBA has released the <a target="_blank" href="https://www.rba.gov.au/publications/confs/2012/conf-vol-2012.pdf">proceedings of a conference</a> held in August on Australia's property markets. It includes discussion papers on land and housing price measurement in China, housing finance, when a housing market is overheated enough to threaten stability, and the commercial property cycle. 
In one discussion paper, <a href="https://www.propertyobserver.com.au/economy/lower-interest-rates-following-bust-can-have-toxic-consequences-glenn-stevens/2012121158408?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">RBA governor Glenn Stevens warns </a>that lowering interest rates following an “asset price bust” to stimulate lending can have "toxic consequences".
 
<a target="_blank" href="https://twitter.com/CCASHMORE_BUYER"><img src="/images/stories/2012/12/cashmoretweet2.jpg"></a>
Oxford University macroeconomist <a href="https://www.propertyobserver.com.au/economy/profitable-banks-and-cautious-lending-practices-protecting-australia-against-boom-bust-housing-cycles-oxford-university-economist/2012121158407?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">John Muellbauer also looked at the risks posed to financial stability from "boom-bust" housing cycles</a>. Muellbauer provided an overall positive assessment of Australia’s prudential and regulatory oversight.
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RBA releases conference papers on Australia's property markets: Tweet of the day

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."

[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.

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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.

Cassidy Knowlton

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