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The recovery in the US property market is picking up, writes Stephen "The Kouk" Koukoulas in his latest tweet.
Sales of existing homes picked up in October, with sales up 11% on the same time last year, according to Bloomberg. The number of homes on the market has fallen to its lowest level in a decade. 
Koukoulas also notes that the US stock market is up after four weeks of declines.
<a target="_blank" href="https://twitter.com/TheKouk"><img src="/images/stories/2012/11/kouktweet5.jpg"></a>
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US housing market recovery picking up amid stock market gains: Tweet of the day

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Hotels and resorts operate in a very competitive tourist accommodation market, with a variety of accommodation styles and quality available at a range of prices points to suit particular needs. Over the past five years, the industry has contended with weak global economic conditions and increased competition from the serviced apartments industry.

The hotels and resorts industry suffered large revenue declines in 2008-09 and 2009-10, when the global financial crisis wrought havoc on consumer sentiment and business confidence. For this reason, industry revenue is estimated to decline by an annualised 0.4% over the five years through 2012-13, to total $5.77 billion.
The hotels and resorts industry has responded well in the years since the financial crisis and has posted revenue gains in each of the past two years. Many hotel and resort operators reacted to the adverse economic conditions by cutting room rates and offering additional perks and services as part of packaged deals. While average takings per room remain low by historic standards, the industry's occupancy rate has reached a historic high of 72%. On the back of the high occupancy rate, particularly in city markets, revenue is expected to increase by 1.6% in 2012-13.
In 2012-13, the industry is estimated to employ 66,800 people, down substantially over the past five years. The fall in employment numbers has been a result of hotel and resort operators seeking to cut costs in response to the global financial crisis. More employees have moved into part-time or casual positions as operators have sought to cut fixed costs. In the five years though 2012-13, the industry has slashed $36.1 million in wage costs.
<img src="/images/stories/2012/11/ibisnov8.jpg">
Domestic tourism has been weak over the past five years as Australians have taken advantage of cheap flights to Asia and a favourable exchange rate. Australians are spending 8.6% less on domestic holidays in 2012 than they did 10 years ago. However, the tourism slack has been picked up by international arrivals, especially from Asian countries like China. This has been the main contributor to the industry's growth over the past decade.
<img src="/images/stories/2012/11/ibisnov81.jpg">
The hotels and resorts industry is well positioned to take advantage of the tourism market's paradigm shift towards more Asian travellers. Industry revenue is expected to increase by an annualised 1.8% over the next five years, to total $6.31 billion in 2017-18.
 
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<img src="/images/stories/2012/11/ibisnov82.jpg">
Hotels and resorts in the industry can be segmented via star ratings, which are dependent on the quality of rooms, facilities and services. These star ratings are assessed by the national AAA organisation through the various state motoring organisations, such as NRMA, RACV, RACQ, RAASA, RACWA and RACT. Classification depends on the standard of both facilities and services provided by hotels and resorts.
Overall, the majority of the industry's rooms are in the high-end range of four stars or greater. Four-star and five-star rooms are estimated to account for 56.9% of industry revenue and make up 79% of total hotel rooms in 2012-13. The largest segment in the industry is four-star rooms, which are estimated to account for 34.6% of the market, followed by five-star rooms with 22.3% of the market.
Most hotel operators derive over 30% of their revenue from sources other than accommodation, mainly from the sale of meals and beverages at their restaurants. Some of Australia's major hotels are attached to entertainment complexes that aim to provide guests with the complete on-site experience – for these types of hotels, room tariff revenue almost becomes secondary to non-room revenue.
Other revenue streams include the sale of in-room food and beverages, management fees and charges, interest and the hiring out of function rooms for conventions and meetings. Total estimated revenue derived from conventions and meetings (which includes meals and liquor provided at these receptions) is estimated to make up 9% of total revenue.
<h3>Major players</h3>
<ul>
<li>AAPC Limited (27.6%)</li>
<li>IHG Hotels Management (Australia) Pty Limited (9.6%)</li>
<li>Amalgamated Holdings Limited (9.2%)</li>
<li>Hilton International Australia Pty Limited (4.0%).</li>
</ul>
<h3>Industry outlook</h3>
The industry is expected to perform modestly over the next five years, constrained by a shaky global and domestic economic environment. While international tourist numbers are expected to increase, the European debt crisis, British recession and a slowdown in parts of Asia will continue to plague Australia's main tourism markets. To some extent, domestic tourism will remain at the mercy of exchange rate movements; the Australian dollar – which has been the nail in the industry's coffin over the past two years – is often unpredictable, but is expected to remain at high levels for at least the short term. IBISWorld forecasts that while revenue volatility will continue in the short term, revenue will increase by an annualised 1.8% over the next five years, to total $6.31 billion in 2017-18.
Karen Dobie is general manager Australia of <a target="_blank" href="https://www.ibisworld.com.au/">IBISWorld</a>
To purchase IBISWorld’s full, 37-page report on Australia’s Hotel and Resort Industry, <a rel="nofollow" href="https://www.ibisworld.com.au/industry/default.aspx?indid=1811">click here</a>. 
This story originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Australian hotels and resorts to benefit from increased tourist numbers

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There were 770 sales in Perth this week, up 15% from 670 the same week last year. The most actively traded suburb was East Perth, with 23 sales, followed by Scarborough, with 19. 
 
<img src="/images/stories/2012/11/reiwanov7.gif">
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Perth sales up 15% on same week last year: REIWA

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54 Nasmyth Street, Young, NSW, 2594 <img src="/images/stories/2012/11/naysmith.jpg" width="470">
This two-bedroom cottage in the NSW town of Young was recently rented for $150 per week and is currently vacant. LJ Hooker agent Christian Rowan says it would be a great investment opportunity. It is on a 758-square-metre block with a garage and is within walking distance of schools.
Rowan is marketing the property<a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $100,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 7.8% at a rent of $150 per week,  well above the gross rental yield for Young houses of 5.6%, 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 $2,000 and over five years to be $4,000.
The median house price in Young rose 6.5% in the past year and 13.6% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Young, see the RP Data suburb page.</a>
The property will go to auction Saturday, November 10 at 10am. 
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Friday form guide: Yields of up to 7.8% in Young

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<a target="_blank" href="/news"><img src="/images/stories/2012/10/10mplus.gif"></a>
The price hopes <a target="_blank" href="/news">Stockland Property Group's departing managing director Matthew Quinn</a> has for his McMahons Point home. Quinn announced in July that he would leave Stockland after 12 years.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500"><img src="/images/stories/2012/10/75percent.gif"></a>
The approximate percentage of Melbourne properties surveyed by Property Observer in October <a target="_blank" href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500">that sold for above their quoted pre-auction price guide</a>. On average, those 55 properties sold for 8.7% above the upper bracket of the price range indicated by the agents.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/12point5mplus.gif"></a>
The <a target="_blank" href="/news">price hopes Dirty Deeds filmmaker Deborah Balderstone</a> and her husband, John, an investment manager, have for their Elizabeth Bay villa. Hidden from the street by a high wall within gardens designed by William Dangar, it's on Billyard Avenue non-waterfront block, although it comes with shared jetty access.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/higher-discounts-required-in-sydney-and-melbourne-to-achive-spring-sales-apm/2012103057498"><img src="/images/stories/2012/10/9point1percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/higher-discounts-required-in-sydney-and-melbourne-to-achive-spring-sales-apm/2012103057498">average amount of discounting required to sell properties in Hobart</a>, according to APM. This was the highest required discounting of all state capitals.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/50percent.gif"></a>
The <a target="_blank" href="/news">likelihood that the RBA will cut the cash rate on Melbourne Cup Day</a>, according to Commonwealth Bank chief economist Michael Blythe. Economists had thought it was a sure bet until a speech this week by RBA deputy governor Philip Lowe.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/developments/dwelling-approvals-rise-78-in-september-and-dampen-melbourne-cup-cash-rate-cut-prospects/2012103157544"><img src="/images/stories/2012/10/7point8percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/developments/dwelling-approvals-rise-78-in-september-and-dampen-melbourne-cup-cash-rate-cut-prospects/2012103157544">rise in dwelling approvals in September</a>. This was the second consecutive month they have risen following a 6.4% rise in August. Dwelling approvals fell 21.2% in July.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fairfax-media-director-michael-anderson-sells-hopewood-house-in-southern-highlands/2012103157501"><img src="/images/stories/2012/10/5point25m.gif"></a>
The approximate price <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fairfax-media-director-michael-anderson-sells-hopewood-house-in-southern-highlands/2012103157501">Fairfax Media director Michael Anderson</a> and his wife, Susie, secured for Hopewood House, their historic matrimonial Southern Highlands mansion.
 
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The 7 must-know numbers of the week, starting with Stockland boss Matthew Quinn's McMahons Point price hopes

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<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/7a-79-atherton-road-oakleigh/Property-Details-buy-residential-4593451">7a/79 Atherton Road, Oakleigh, VIC, 3166</a>
<img src="/images/stories/2012/10/atherton.jpg" width="470">
Within easy walking distance of Oakleigh train station, shops and cafes, this two-bedroom apartment is currently leased at $380 per week on a month-to-month lease. Listing agent Nick Blow of Hodges says this is about at market rent for the unit. It has reverse-cycle air-conditioning as well as a basement car park and storage.
Blow <a href="https://www.barryplant.com.au/property.cfm?propertyID=2175147&amp;realestate=1_Balmoral_Way_PAKENHAM_VIC_3810&amp;menuItemID=41771" target="_blank">is marketing the property</a><a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $350,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.7% at a rent of $350 per week,  well above the gross rental yield for Oakleigh units of 4%, 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 $9,000 and over five years to be $31,000.
The median unit price in Oakleigh rose 16.8% in the past year and 29.4% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Oakleigh, see the RP Data suburb page.</a>
The property will be open for inspection on Saturday, October 27 at noon and will go to auction on Saturday, November 3 at noon.
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Friday form guide: Yields of up to 5.7% in Oakleigh

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<img src="/images/stories/2012/10/20point8percent.gif">
The amount by which unit rents have increased in Perth in the 12 months to September, according to Residex. The median unit asking rent is $435, and the median yield is 5.3%.
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<img src="/images/stories/2012/10/20percent.gif">
The amount by which unit rents have increased in Sydney in the 12 months to September, according to Residex. The median unit asking rent is $540, and the median yield is 5.6%.
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<img src="/images/stories/2012/10/12point5percent.gif">
The amount by which unit rents have increased in Melbourne in the 12 months to September, according to Residex. The median unit asking rent is $405, and the median yield is 4.9%.
 
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<img src="/images/stories/2012/10/12point2percent.gif">
The amount by which unit rents have increased in Darwin in the 12 months to September, according to Residex. The median unit asking rent is $505, and the median yield is 6.4%.
 
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<img src="/images/stories/2012/10/5point8percent.gif">
The amount by which unit rents have increased in ACT in the 12 months to September, according to Residex. The median unit asking rent is $460, and the median yield is 5.8%.
 
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<img src="/images/stories/2012/10/4point2percent.gif">
The amount by which unit rents have increased in Brisbane in the 12 months to September, according to Residex. The median unit asking rent is $370, and the median yield is 5.5%.
 
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<img src="/images/stories/2012/10/3point6percent.gif">
The amount by which unit rents have increased in Hobart in the 12 months to September, according to Residex. The median unit asking rent is $285, and the median yield is 5.9%.
 
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<img src="/images/stories/2012/10/3point5percent.gif">
The amount by which unit rents have increased in Adelaide in the 12 months to September, according to Residex. The median unit asking rent is $295, and the median yield is 5.1%.
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<img src="/images/stories/2012/10/13point9percet.gif">
The amount by which unit rents have increased across Australia in the 12 months to September, according to Residex. The median unit asking rent is $410, and the median yield is 5.4%.
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Double-digit unit rental growth in major capitals, bar Brisbane, in past year: Residex

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Western Australia's property market is not necessarily benefiting fully from the resources boom, according to SQM Research director Louis Christopher, as temporary migrants to the state tend to rent rather than buy. 
Noting that three properties on SQM Research's top 10 most discounted properties list are in WA, Christopher says increased migration and increased jobs do not translate necessarily into property sales. They are a house, a flat and a residential development site.
"Because employment opportunities are in may cases short term, those recruited into such positions would rather rent that buy homes in these localities as they do not intend to reside there for the long term," he says.
"This could potentially explain why there have been ongoing substantially discounted homes hanging around on the market in Perth and other regions within WA, as making a permanent investment in property is not necessarily as popular as the demand for temporary accommodation."
 
1 <a href="https://www.realestate.com.au/property-house-qld-closeburn-107603313" target="_blank">34 Seraya Court, Closeburn, Queensland 4520</a>
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Forresters-Beach/?adid=2008587390"></a>Days on the market: 434 Initial asking price: $145 million Current asking price: $798,000 Reduction: 45%
2
<a target="_blank" href="https://www.realestate.com.au/property-other-tas-taranna-106879142">5756 Arthur Highway, Taranna, Tasmania, 7180</a>
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420"></a>Days on the market: 741 Initial asking price: $499,000 Current asking price: $299,000 Reduction: 40%
3
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420">19 Lychee Drive, Caboolture, Queensland, 4510</a>
Days on the market: 881 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
4
<a target="_parent" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
Days on the market: 643 Initial asking price: $2.95 million Current asking price: $1.85 million Reduction: 37%
5
<a href="https://www.realestate.com.au/property-unit-qld-bellara-108744741" target="_blank">4/5 Thornely Close, Bellara, Queensland, 4507</a>
Days on the market: 336 Initial asking price: $599,000 Current asking price: $380,000 Reduction: 37%
6
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228">15 Gretel Two Rocks, WA, 6037</a>
Days on the market: 1,029 Initial asking price: $1.1 million Current asking price: $690,000 Reduction: 36%
7
<a target="_blank" href="https://www.realestate.com.au/property-house-tas-white+beach-106479093">588 White Beach Road, White Beach, Tasmania, 7184</a>
Days on the market: 881 Initial asking price: $780,000 Current asking price: $499,000 Reduction: 36%
8
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Magenta/?adid=2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
Days on the market: 1,586 Initial asking price: $700,000 Current asking price: $450,000 Reduction: 36%
 
9
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-armadale-105464925">99 Lowanna Way, Armadale, WA, 6112</a>
Days on the market: 1,298 Initial asking price: $1.85 million Current asking price: $1.2 million Reduction: 35%
10
<a href="https://www.realestate.com.au/property-apartment-wa-scarborough-105849569" target="_blank">15/2 Brighton Road, Scarborough, WA, 6019</a>
Days on market: 1,199 Initial asking price: $1.2 million Current asking price: $790,000 Reduction: 34%
 
SQM Research also offers a list of the <a target="_blank" href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research">Top 100 Biggest Bargains in Australia </a>for sale.
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Resources boom helping rental market, but not property sales, in WA: SQM Research

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A five-bedroom Killara house that sold under the hammer for $4,225,000 was this week's top sale, according to RP Data. 
The house, which was sold by McConnell Bourn Lindfield agent Roslynne Rogers, in conjunction with McGrath agent Philip Waller, was originally put on the market in December last  year with $7.5 million hopes through Century 21. When it had not sold by May of this year with reduced price hopes of $6 million plus, the agents took over the listing with a price guide of $5.5 million plus, according to RP Data. By early July of this year the price guide had been taken off the listing.
Rogers says there were two registered bidders on Saturday, but only one willing to put up a hand. She says the vendor is happy with the sale price achieved.
The 2,700-square-metre property includes a full-sized tennis court, three-car garage and swimming pool. It last sold for $1.75  million in 1988.
1. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/44_northcote_avenue_killara_nsw_2071/3329601" target="_blank">44 Northcote Avenue, Killara, NSW, 2071</a>, five-bedroom house, sold at auction on October 27 by McConnell Bourn Lindfield for $4.225 million
2. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/24_dean_street_kew_vic_3101/14558866" target="_blank">24 Dean Street, Kew, VIC, 3101</a>, four-bedroom house, sold at auction on October 27 by Marshall White Real Estate for $3.92 million
3. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/49_the_boulevarde_cammeray_nsw_2062/1695176" target="_blank">49 The Boulevarde, Cammeray, NSW, 2062</a>, three-bedroom house, sold at auction on October 25 by Ray White Lower North Shore for $3.75 million
4. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/6_the_terrace_abbotsford_nsw_2046/7928600" target="_blank">6 The Terrace, Abbotsford, NSW, 2046</a>, four-bedroom house, sold at auction on October 27 by McGrath Estate Agents for $3.6 million
5. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/77_st_vincent_street_albert_park_vic_3206/9183831" target="_blank">77 St Vincent Street, Albert Park, VIC, 3206</a>, four-bedroom house, sold at auction on October 28 by Cayzer Real Estate Albert Park for $3.325 million
6. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/23_mermaid_avenue_maroubra_nsw_2035/4046325" target="_blank">23 Mermaid Avenue, Maroubra, NSW, 2035</a>, four-bedroom house, sold at auction on October 27 by Black Lifestyle Property for $2.725 million
7.  <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/284_domain_road_south_yarra_vic_3141/13136177" target="_blank">284 Domain Road, South Yarra, VIC, 3141</a>, four-bedroom house, sold at auction on October 27 by Bennison Mackinnon Real Estate Armadale for $2.65 million
8. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/6_coastview_place_freshwater_nsw_2096/15786147" target="_blank">6 Coastview Place, Freshwater, NSW, 2096</a>, five-bedroom house, sold at auction on October 25 by L J Hooker Seaforth for $2.5 million
9. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/124_rowell_avenue_camberwell_vic_3124/10227076" target="_blank">124 Rowell Avenue, Camberwell, VIC, 3124</a>, five-bedroom house, sold at auction on October 27 by Jellis Craig Real Estate Hawthorn for $2.47 million
10. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/145_seaforth_crescent_seaforth_nsw_2092/6144387" target="_blank">145 Seaforth Crescent, Seaforth, NSW, 2092</a>, four-bedroom house, sold on October 24 by Richardson &amp; Wrench Seaforth for $2.4 million
 
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Five-bedroom Killara home top sale of the week: RP Data

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<img src="/images/stories/2012/10/21point5percent.gif">
The amount that house rents have increased in Perth in the 12 months to September, according to Residex. The median weekly asking rent for houses is $480 and the median yield is 5%.
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<img src="/images/stories/2012/10/11point8percent.gif">
The amount that house rents have increased in Melbourne in the 12 months to September, according to Residex. The median weekly asking rent for houses is $425 and the median yield is 4%.
 
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<img src="/images/stories/2012/10/10point7percent.gif">
The amount that house rents have increased in Sydney in the 12 months to September, according to Residex. The median weekly asking rent for houses is $570 and the median yield is 4.5%.
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<img src="/images/stories/2012/10/10point6percent.gif">
The amount that house rents have increased in Canberra in the 12 months to September, according to Residex. The median weekly asking rent for houses is $520 and the median yield is 5.2%.
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<img src="/images/stories/2012/10/10point5percent.gif">
The amount that house rents have increased in Brisbane in the 12 months to September, according to Residex. The median weekly asking rent for houses is $420 and the median yield is 5.2%.
 
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<img src="/images/stories/2012/10/8point4percent.gif">
The amount that house rents have increased in Darwin in the 12 months to September, according to Residex. The median weekly asking rent for houses is $580 and the median yield is 6%.
 
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<img src="/images/stories/2012/10/7point4percent.gif">
The amount that house rents have increased in Hobart in the 12 months to September, according to Residex. The median weekly asking rent for houses is $365 and the median yield is 5.2%.
 
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<img src="/images/stories/2012/10/4point6percent.gif">
The amount that house rents have increased in Adelaide in the 12 months to September, according to Residex. The median weekly asking rent for houses is $345 and the median yield is 4.7%.
 
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<img src="/images/stories/2012/10/9point3percent.gif">
The amount that house rents have increased across Australia in the 12 months to September, according to Residex. The median weekly asking rent for houses is $420 and the median yield is 5%.
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Perth house rents up 22% in a year: Residex state-by-state analysis

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>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

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

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

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

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

Cassidy Knowlton

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