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Regional areas have outperformed capital cities in the year to March, according to ANZ.
"Despite being lower in annual growth terms, regional house prices have been more stable than capital city house prices, which have seen larger price falls across all major states and territories," notes the Australian Housing Chartbook.
"Across states/territories and regions, house price growth has continued to differ, reflecting varying economic performance across Australian industries.
"NSW regional house prices were the strongest across states and territories in the year to March 2012, with the central inland regions of Orange and Dubbo showing the greatest house price growth," notes the report.
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<a title="Click to enlarge" href="/images/stories/2012/07/anzjuly91.jpg" rel="shadowbox"><img src="/images/stories/2012/07/anzjuly91thumb.jpg"></a>
 
Source RP Data, Rismark, ANZ
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Orange leads NSW regional house growth, with Hastings and Richmond-Tweed languishing: ANZ

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The Melbourne and Sydney properties features in auction tipping competition Property Tycoon sold under the hammer this weekend, but only just.
For those who want to have a harmless punt, there's now a tipping website, <a style="font-size: 14px; text-align: left;" rel="nofollow" href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/2012/07/youngman.jpg">
The auction at 4 Youngman Street, Preston (pictured above), was attended by around 50 people but only three declared their intention to call the property home.
With the exception of the successful bidder, who was very quick to respond to any challenger bids, it was tough for the auctioneer to drag out bids from the other punters.
The auction stalled at $630,000 when he referred the bid to the owner but was instructed to go out and get more money. Bidding commenced again before stopping at $653,000 and more instructions were sought. On this occasion the owner gave him the all clear to announce the property on the market. Unfortunately for the owner this did not entice any more bidding, and the property was knocked down.
<img src="/images/stories/2012/07/gilpin.jpg">
In Sydney the two-storey Victorian terrace at 9 Gilpin Street, Camperdown (pictured above), also just fell across the line, selling for $2,000 above the vendor’s reserve.
Three buyers registered their intention to put their hand up at the auction but when the action started only two were prepared to do so. But it only takes two to make an auction, and happily for the vendor the two buyers passed the $1.05 million reserve before bidding stopped at $1,052,000.
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Auction tipping competition properties manage to just get over the line

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353 Lakedge Avenue, Berkeley Vale, NSW, 2261
<img src="/images/stories/2012/07/lakedge.jpg">
With lake views, this three-bedroom house has been rented to the same tenant for the past six years. The lease is expired. The current tenants are paying $350 per week in rent, and listing agent Peter Moran of Property Central says market rent for the house would be about $400 per week. The light and airy property is close to schools, shops and a lakeside walking track
Moran <a href="https://www.propertycentral.com.au/index.cfm?pagecall=property&amp;propertyID=2069954" target="_blank">is marketing the property</a> with price hopes of $349,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.2% at its current rent, below the indicative gross rental yield for Berkeley Vale houses of 5.7%, according to RP Data. At $400 per week it would secure an investor a gross rental yield of $6%. 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 $3,000 and over five years to be $7,000.
The median house price in Berkeley Vale fell 5.2% in the past year and rose 3.2% in the past five years, according to RP Data.
The property will be open for inspection Satuday, July 7 at 1.3opm and will go to auction Saturday, July 14 at 2.30pm.
For more information about prices and yields in Berkeley Vale, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
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1/32 Roberts Road, Airport West, VIC, 3042
<img src="/images/stories/2012/07/robertsrd.jpg" width="470">
This two-bedroom villa unit is currently rented on a month-to-month lease at $1,040 per month, which listing agent David Gigliotti of Moonee Valley Real Estate says is about market rent for the area. The property is close to shops and transport and has a carport and a rear courtyard.
Gigliotti<a target="_blank" href="https://agents.realestate.com.au/cgi-bin/cs/run.pl?_t=Details&amp;_c=MOQAVO&amp;id=110897343&amp;code=54693313&amp;time=1341556385&amp;f=0&amp;p=4&amp;tot=21&amp;t=res"> is marketing the property</a> with price hopes of $260,000 plus, and if it sells for $260,000 that would secure an investor a gross rental yield of 4.8%, above the indicative gross rental yield of 4.1% for Airport West units, 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.
The median unit price in Airport West  fell 5.1% in the past year, according to RP Data.
<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 $4,000 and over five years to be $10,000.
The property will be open for inspection Saturday, July 7 at 10.45am and will go to auction Saturday, August 4 at 11am.
For more about prices and yields in Airport West, see the RP Data suburb page.
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Friday form guide: Yields of up to 6% in Berkeley Vale

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There were 1,059 residential sales in Perth this week, with 22 of them in East Perth.
<img src="/images/stories/2012/07/reiwajuly5.jpg">
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East Perth WA's top-selling residential suburb this week: REIWA

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Dim the lights, don the snuggie and pass the chocolate; Downton Abbey is back.
Amid all the mooning over Matthew and Mary, viewers may not have noticed that Downton Abbey is actually about property law. Like Jane Austen’s Pride and Prejudice, the central dilemma of the series is the existence of a <a target="_blank" href="https://legal-dictionary.thefreedictionary.com/Fee+Tail">fee tail</a>.
<img src="/images/stories/2012/07/downton1.jpg">
The fee tail stipulates that Grantham Estate cannot be left to beautiful, intelligent, spoilt Mary, but must pass to the nearest male relative, Matthew, a Manchester solicitor. Arguably worse than Austen’s odious Mr Collins in Pride and Prejudice.
Fee tails served an important purpose for a feudal system in which status and wealth were largely determined by accident of birth. Leaving land by will with an entail ensured it would pass down a specific line of descendants and not be dissipated among people unrelated by blood. In the event that a particular line of descendants stopped, the land would revert to the original donor’s family.
Fee tails suited a feudal system of land ownership, but they did not suit emerging or fully fledged capitalist democracies.
First, fee tails were economically stultifying. The interest was effectively only an interest for the life of the current entail holder and thus (invariably) he could not raise money with it, sell it or lease it for longer than his life. Not surprisingly, tenants didn’t like to invest in leases that abruptly ended when their landlord fell off his perch.
Judges and lawyers waged a war of attrition against fee tails for centuries, developing ingenious legal devices to defeat them.
On a micro level, this would give the current holder the economic freedom to deal with his land as he pleased; on a macro level, it forced land out of the hands of families and on to the emerging, free land market. The Dowager Countess engages Matthew to investigate one of these legal devices, although we can be confident that she was not interested in facilitating the onward march of modern capitalism whose values are so antithetical to her own.
Second, fee tails were not just at odds with economic freedom but personal freedom and autonomy; at the risk of understatement, values that had been gaining traction for some time. In the 17th century, the English middle classes had fought hard to free themselves, and most importantly their property, from the arbitrary interference of monarchs. In the 19th century John Stuart Mill wrote eloquently about the necessary limit of government and social power over the individual; so long as people caused no harm to others, they were free to act as they pleased. This concept underpins modern land law (as long as you don’t live in strata, but that’s another story).
As an early 20th century aristocrat, Lord Grantham’s autonomy is not threatened by the government or monarch, but it is by his own ancestors. The fee tail allowed long-dead ancestors to determine land-use and disposition for generations to come. It is an example of “dead-hand control”, the nemesis of modern property law.
There is a delicious irony in the Dowager Countess and Mary’s frustration with Lord Grantham’s inability to freely determine to whom he leaves the land.
Personal freedom is a concept they have learned from the despised middle classes, the very people they are trying to keep the land from. Further, while they would like autonomy and agency for themselves, unlike the politically progressive Lady Sybil, it is not something they want to extend to their own housemaids or chauffeur.
Lord Grantham is at least consistent in his social theory. He does not want his chauffeur to have control of his own life, but neither does he want it for himself. He believes he is the temporary caretaker of his land, not its absolute owner in any modern sense.
The fee tail dilemma is a metaphor for a family trapped between two worlds. The dying world of an aristocracy with its roots in a feudal system and the new world of the capitalist, democratic state. Fittingly, fee tails were abolished in most common law jurisdictions, including the United Kingdom, by the 1920s.
Of course the fee tail dilemma is also a metaphor for the all important dilemma of love. Should Mary marry in the tradition of her ancestors, for money, status and wealth or should she embrace the values of the modern world, exercise her personal freedom and marry for love?
We’ll all have to get back to the sofa and snuggie to find out.
Cathy Sherry is a senior lecturer in the faculty of law at the University of New South Wales.
This article originally appeared on <a target="_blank" href="https://theconversation.edu.au/">TheConversation</a>.
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Downton Abbey a melodrama about property law – and frocks, intrigue and Matthew and Mary

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The amount of vendor discounting required to secure residential property sales peaked mid- to late last year, a "chill chart" released by Australian Property Monitors shows.
In Sydney, the average discount required in June 2012 was 6.7%, compared with 7.1% in August 2011. However, this is still higher than the average discount Sydney vendors had to offer in June 2010, which was 5.9%.
Melbourne discounting peaked in November 2011 at 8.1%, whereas in June 2012 Melbourne vendors offered discounts of 6.9% off initial price hopes to secure sales. Melbourne's average discount was 5.4% in June 2010. 
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The required discounting for Brisbane property hovered around 10.7% from June to September 2011, with the average discount in June 2012 at 8.4%. 
Adelaide vendors offered an average discount of 8.6% in September 2011, but in June 2012 that had fallen to 7.7%. However, the previous month the average discount required was 8.1% in Adelaide, not at its 2011 peak but still in the "red zone", according to APM. 
Perth vendors offered discounts as deep as 10.6% in August 2011, but June 2012's average discount for the WA capital was 7.3%. This is still up on the 6.4% average discount in June 2010. 
The average discount required in Canberra hit a peak of 6% in June 2011 and was not far off that in June 2012, at 5.5%. However, these "red" percentages for Canberra are still at or below "green" figures for other capitals, as Canberra vendors in general do not have to sweeten the deal as much as those in other cities.
Darwin's average discount for dwelling sales hit 10% in June 2011 and was at a much lower 5.8% in June 2012. This is only marginally up from the 5.4% average discount in June 2010.
Hobart's average discount has crept up in recent months, to be at 10.3% in June 2012. This is not as high as the 10.8% average discount in August 2011, but higher than the 8.4% and 8.5% in some months between August last year and June this year. In June 2010 the average vendor discount in Hobart was 6.6%.  
 
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Discounts required to secure residential property sales peaked in mid to late 2011: APM chill chart

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The inner-Brisbane suburb to Teneriffe is the most crowded suburb in Queensland, according to RP Data. The suburb, which covers less than a square kilometre, has 4,699 people or a density of 6,518 people per square kilometre.
The office-dominated Brisbane City has the lowest population density in Brisbane, at a roomy 3,965 people per square kilometre.
Mermaid Beach is shown to have the highest population density on the Gold Coast, at 3,743 people per square kilometre, but the figures are based on permanent residents. As other areas of the Gold Coast have more temporary residents and are not reported in the statistics, Mermaid Beach with its single-familyhomes has come out ahead of more high-rise area.
"Mermaid Beach is mainly permanent and full of young children and families, that's why the figures there were the highest," property analyst Kerrie Young told the <a target="_blank" href="https://www.goldcoast.com.au/index">Gold Coast Bulletin.</a>
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Teneriffe the most crowded Brisbane suburb, with Mermaid Beach taking the Gold Coast mantle: RP Data

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<img src="/images/stories/2012/07/3point7percent.gif">
The median rental yield for houses in Melbourne in June, according to RP Data.
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<img src="/images/stories/2012/07/4point3percent.gif">
The median rental yield for houses in Adelaide, in June, according to RP Data.
 
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<img src="/images/stories/2012/07/4point4percent.gif">
The median rental yield for houses in Sydney in June, according to RP Data.
 
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<img src="/images/stories/2012/07/4point4percent.gif">
The median rental yield for houses in Perth in June, according to RP Data.
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<img src="/images/stories/2012/07/4point6percent.gif">
The median rental yield for houses in Brisbane in June, according to RP Data.
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<img src="/images/stories/2012/07/4point6percent.gif">
The median rental yield for houses in Canberra in June, according to RP Data.
 
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<img src="/images/stories/2012/07/5point1percent.gif">
The median rental yield for houses in Hobart in June, according to RP Data.
 
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<img src="/images/stories/2012/07/6point1percent.gif">
The median rental yield for houses in Darwin in June, according to RP Data.
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Capital city house yield by the numbers, with Melbourne landlords securing the lowest return: RP Data

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The Reserve Bank of Australia should keep the official cash rate steady at 3.5%, according to the Centre for Applied Macroeconomic Analysis (CAMA) shadow board, which gives its views ahead of the decision by central bank’s actual board.

The <a href="https://cbe.anu.edu.au/college/schools-centres/cama/pro-pol/" target="_blank">shadow board</a> is made up of <a href="https://cbe.anu.edu.au/college/schools-centres/cama/pro-pol/" target="_blank">influential economists from the private sector and academia</a>.
They were asked to rank their preferred outcomes for the cash rate. Keeping the interest rate unchanged at 3.5% was given a 65% weighting, well above the next most popular, an increase to 3.75%, with a 19% weighting.
Support for a cut in the cash rate of 25 basis points or more received a 16% weighting.
Professors Warwick McKibbin and Jeffrey Sheen were the strongest proponents of higher rates this month, with both indicating a most preferred outcome of 3.75%.
In the longer term, the CAMA shadow board see the risks to rates as equally balanced.
The probability that rates should be higher in 12 months is approximately equal to the probability that rates should be lower.
The comments by individual shadow board members can be obtained from the <a href="https://cbe.anu.edu.au/college/schools-centres/cama/pro-pol/" target="_blank">CAMA website</a> and are reported below.
<img src="/images/stories/2012/07/cama.gif">
Paul Bloxham, Chief Economist (Australia and New Zealand), HSBC Bank Australia Ltd:
“I would recommend the RBA stay on hold this month. Having cut rates by a total of 75 basis points in the past two months, the RBA should now sit still to assess the impact that these rate cuts have had on the economy. Local conditions still look to be fairly solid, with employment growing strongly in May and GDP for Q1 an upside surprise.
“There is a clearly a risk that things have slowed down since then, with business and consumer surveys weakening, and the downside risks from abroad rising. But some part of this risk has already been accounted for in last month’s cut. Rates are now clearly stimulatory. With the AUD no longer appreciating, upside risks to inflation are also building. A discussion about cutting this month could be had around global risks, but I would not recommend a cut this month, having just gone last month.
“There are also risks due to the China slowdown, though these seem much less concerning at this point than those emanating from Europe.”
Saul Eslake, Chief Economist, Bank of America Merrill Lynch Australia
“Noting that last month’s decision to cut rates was "finely balanced” (according to the minutes), and since then we’ve had the second Greek elections (the outcome of which has lowered the near-term probability of a disorderly Greek exit from the euro), and much stronger Q1 GDP and May labour force survey data, I think there’s zero chance that the RBA Board should do anything other than leave rates on hold at this week’s meeting. 
“The six-month view (and my 12-month view) reflects a view that there are (broadly speaking) two plausible monetary policy scenarios – one, with 80% probability, that there isn’t another major global financial shock, and that the Australian economy slows from its Q1 pace (with unemployment riding towards 6%), prompting one (or possibly two) 25 basis points reductions in the cash rate; and a second, with 20% probability, that there is another major global financial shock, prompting a more aggressive easing from the RBA.”
James Morley, Professor, University of New South Wales, CAMA:
Slow adjustment back to neutral, but always ready for quick response to unusual developments in inflation or financial conditions: 
“After cuts in the policy rate over the past few months, monetary policy is currently in an accommodative stance. This provides some insurance against any possible deterioration in the domestic economy or spillovers from continuing problems in the rest of the world. However, in the absence of a full-blown financial crisis in the Eurozone, the main focus of policy should be on the appropriate timing to return to a more neutral stance over the next six to twelve months. This timing will depend in part on the inflation outlook, with the current outlook allowing for a fairly gradual adjustment. 
“As always, monetary policy should be ready to respond immediately to a new global financial crisis. But it should not do so pre-emptively unless the likelihood of a full-blown crisis rises substantially before the next policy meeting.”
Jeffrey Sheen, Professor and Head of Department of Economics, Macquarie University, Editor, The Economic Record, CAMA: 
“The cash rate was cut last month, which was a move that I did not support, but does constrain what I recommend now. Since then, the March quarter national accounts data have come out, showing real GDP growth at 4.3%, well above normal. 
“This may well be revised downward later, but not by enough to justify any further pessimism about the overall Australian economy. The source of expenditure growth was not only (mining) investment, but also consumption, which broadens the base for the recovery. In addition, employment growth (particularly, full-time) in May was positive, as was participation (which actually meant unemployment rose a little, but is still very low). 
Though the trend growth and level of productivity remains a concern, this is not something monetary policy can properly address. Global risks have declined following the outcome of the Greek election, and then the agreement by European leaders to allow direct recapitalisation of troubled banks and to encourage stimulus policies as well as a closer economic union in the longer run. Disaster would seem to be averted, but its hard to see ailing Europe as anything but the new Japan in the medium term."
This article originally appeared on <a href="https://theconversation.edu.au/" target="_blank">The Conversation</a>
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The RBA should keep rates on hold: CAMA shadow board

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The Victorian auction clearance rate has eased from 62% in May to 56% in June, according to the Real Estate Institute of Victoria. The highest clearance rates in June (for suburbs where there were 20 or more auctions) were in Glen Iris, Armadale, Malvern, Toorak and Brunswick.
The current Victorian auction clearance rate of 56% is about the same as it was in October 2008, with the clearance rate peaking at a high of 87% in mid-2009 and early 2010. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/reivjuly2.jpg"><img src="/images/stories/2012/07/reivjuly2thumb.jpg"></a>
Source: <a href="https://www.reiv.com.au/Property-Research/Housing-Indicators.aspx" target="_blank">REIV</a>
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Victorian auction clearance rate has trended downwards since March 2010: REIV

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

Joel Robinson

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

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

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

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

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

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.

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Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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Cassidy Knowlton

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