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Amid a somewhat lacklustre environment for the new housing sector, home builder Peet Limited has secured its 100th sale in its Aston development, in the outer-Melbourne suburb of Craigieburn.
Aston launched in June 2011, and the 100th buyer, the Singh family, purchased a block of land in late January. The Singhs plan to begin construction next winter.
The family have lived in Craigieburn, about 30 kilometres north of Melbourne, for most of 2011 and they are glad to have secured a home in the area.
“It’s a nice, quiet area close to everything we want and it’s an easy 20-minute trip in to work for me,” Rupinder Singh says.
But not many Australian families are following the Singhs’ example, with detached new home sales falling 7.7% in the December quarter, according to the Housing Industry Association.
“Weakness in the new home building sector reflects a combination of subdued demand and an excessive cost base driven by high and inefficient taxation, the latter of which was further highlighted in 2011 by the modest decline in existing property values,” HIA chief economist Harley Dale says.
Victoria was hit particularly hard in the December 2011 quarter, with a 10.5% decline in new detached home sales.
Land sales are not doing much better, according to HIA-RP Data. Although land sales increased by 1.3% in the September 2011 quarter, they were 16.8% lower than in the September 2010 quarter and substantially lower than their September 2009 peak.
But despite hard times for the sector as a whole, Aston has proven popular with buyers. It will offer residents a total of 20 hectares of parkland and open space, including three sports fields.
<img src="/images/stories/aston.jpg">
December was the best month for sales in the development since its launch.
Land it set aside for an onsite retail sector and a school, and the development is close to several primary and secondary schools and is within a short drive of Greenvale, Craigieburn and Roxburgh Park Shopping Centres.
Blocks in the development range from 315 square metres through to 494 square metres, with frontages varying from 14 metres to 17.6 metres. Prices range from $180,000 through to $220,000.
The median house price in Craigieburn increased 3.2% last year, according to RP Data.
The median value for capital cities land rose by 1% in the September 2011 quarter to $213,718, or 2.5% higher than one year earlier.
 
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cknowlton-QnEa6ntUYP

Buyers snapping up vacant land in Peet's Aston development, despite lacklustre sector

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The <a href="https://www.propertyobserver.com.au/queensland/big-pineapple-ploughing-begins-as-plans-come-to-fruition/2011121952891" target="_blank">Big Pineapple</a> and <a href="https://www.propertyobserver.com.au/new-south-wales/bunnings-shells-out-for-big-prawn-site-but-has-no-plans-for-its-renovation/2011081851207" target="_blank">Big Prawn</a> recently sold, but South Australia's Big Olive has not been so lucky. 
It has been on the market for several years with no success, according to Colliers International agent Phil Schell, who was marketing the property, and it has now been withdrawn from sale. 
The 1,103-hectare property includes more than 100,000 olive trees, 6,500 pine-nut trees, pomegranate and gourmet fig trees and 61 hectares of vineyard. It has a state-of-the-art olive processing facility onsite along with a water allocation of 6,237 megalitres. 
It produces Ozolio, The Big Olive, Bene Vita and Coorong extra-virgin olive oils, along with tapenades, table olives and Royal Monastery wine.
The processing, bottling and packaging factory was established in 1998, and The Big Olive sculpture was erected in 2005 as a tourist attraction. The fibreglass sculpture is eight metres tall and weighs more than a tonne. 
"I have a passion for the product and we believe in its potential," The Big Olive managing director Jo Hani told The Murray Valley Standard at the time.
It was listed for sale or seeking a potential partner in 2008, according to OliveGrower.com.au, and at the time it was on 2,726 hectares, of which 385 hectares was plnted with olives. It was estimated to be valued at between $25 million and $30 million.
The property is about 100 kilometres from Adelaide and enjoys a perfect climate for growing olives.
There is expansion potential for further planting, and the property holds water licences and prepared ground for the planting of 12,000 almond trees.
 
 
 
 
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No celebratory giant martini as Big Olive withdrawn from market after unsuccessful campaign

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<img src="/images/stories/535.jpg">
The median asking rent for houses in Sydney in January 2012, according to Residex. This is up 2.9% on the same time last year.
 
<hr>
 
<img src="/images/stories/520.jpg">
The median asking rent for houses in Darwin in January 2012, according to Residex. This is down 1% on the same time last year.
 
<hr>
<img src="/images/stories/510.jpg">
The median asking rent for houses in ACT in January 2012, according to Residex. This is up 5.2% on the same time last year.
 
<hr>
 
<img src="/images/stories/425.jpg">
The median asking rent for houses in Perth in January 2012, according to Residex. This is up 11.8% on the same time last year.
 
<hr>
<img src="/images/stories/410.jpg">
 
The median asking rent for houses in Melbourne in January 2012, according to Residex. This is up 7.9% on the same time last year.
 
<hr>
<img style="border-style: initial; border-color: initial;" src="/images/stories/410.jpg">  
The median asking rent for houses in Brisbane in January 2012, according to Residex. This is up 5.1% on the same time last year.
 
<hr>
 
<img src="/images/stories/355.jpg">
The median asking rent for houses in Hobart in January 2012, according to Residex. This is up 1.4% on the same time last year.
 
<hr>
<img src="/images/stories/350.jpg">
The median asking rent for houses in Adelaide in January 2012, according to Residex. This is up 6.1% on the same time last year.
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Capital city house rents: A state-by-state analysis: Residex

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<img src="/images/stories/reiwafeb16.gif">
Source: Real Estate Institute of Western Australia
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Perth sales volumes up 25% on same week last year: REIWA

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Australian Property Monitors (APM) has released a list of results from 68 auctions in Melbourne for the weekend of February 11. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf">Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
 
 
 
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APM's 68 Melbourne weekend auction results

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Australian Property Monitors (APM) has released a list of results from auctions in Brisbane for the weekend of February 11.<a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
 
 
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APM's Brisbane weekend auction results

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Australian Property Monitors (APM) has released a list of results from auctions in Adelaide for the weekend of February 11. <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf">Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
 
 
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APM's Adelaide weekend auction results

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108 Ormond Road, East Geelong, VIC, 3219
<img src="/images/stories/ormondrd.jpg" style="border-style: initial; border-color: initial;">
This two-bedroom house in East Geelong is tenanted at $280 per week until November 2012, and its high rental yield could make it a good prospect for investors.  Geelong has become an investor magnet in recent times, with hotspotting.com.au director Terry Ryder and Your Investment Property magazine picking the regional city <a href="https://www.propertyobserver.com.au/victoria/hotspot-geelong-s-on-the-ball-with-rising-yields/2011100451798" target="_blank">as a fast-growing hotspot</a>. Barry Plant Geelong agent Natalie Timonowicz <a target="_blank" href="https://www.barryplant.com.au/geelong/index.cfm?pagecall=property&amp;propertyID=1951591&amp;realestate=108_Ormond_Road_EAST_GEELONG_VIC_3219&amp;menuItemID=49535&amp;propertyIDList=1952986,1951591">sold this property</a> under the hammer on Saturday, February 11 for $248,500. There was one bidder. Before auction Timonowicz gave price hopes of $250,000 plus. The sale price reflects a gross rental yield of 5.9%, much higher than the indicative gross rental yield for East Geelong houses of 3.9%, 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 $3,000 and over five years to be $5,000. The house, on a 651-square-metre block, is close to shops and public transport. 
For more information about prices and yields in East Geelong, see the <a target="_blank" href="/news">RP Data suburb page</a>.
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Investor Form Guide Wrap: Gross yield of 5.9% in East Geelong

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56/12 Wylde Street, Potts Point, NSW, 2011
<img src="/images/stories/wyldest.jpg">
This one-bedroom apartment with harbour views has the potential to rent for $585 per week, according to <a target="_blank" href="https://www.raywhite.com/nsw/potts-point/723973/">Ray White Elizabeth Bay</a> agents Nick Harrington and Mike Cotton-Stapleton, who are marketing the property. The 54-square-metre apartment on the fourth floor includes a balcony and an internal laundry.
Cotton-Stapleton and Harrington provide details of comparable sales, including the apartment at 16/4 Macleay Street, Potts Point, which sold for $500,000 in December 2011, and the apartment at 8/108 Victoria Street, Potts Point, which sold for $540,000 in September 2011. If the Wylde Street property sells for $500,000 and is rented out for $585 per week, that would secure an investor a gross rental yield of 6.1%, higher than the indicative gross rental yield for Potts Point units of 5.3%, 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 strata levies for this property are $823 per quarter, the water levies are $144 per quarter and the coucnil rates are $188 per quarter.
The median price for Potts Point units went up 10.5% in the past year, according to RP Data. 
The property is open for inspection on Saturday, February 11 at 11am and will go to auction on Thursday, February 16 at 6.30pm. 
For more information about yields and prices in Potts Points, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 


<hr class="system-pagebreak">
22 Lubrano Street, Brighton East, VIC, 3187
<img src="/images/stories/lubrano1.jpg"> 
This 1920s California bungalow on 666 square metres is currently leased until June 2012 at $481 per week. The three-bedroom house includes high ceilings and polished timber floorboards and is within walking distance of the Hawthorn Road tram and Gardenvale Primary School.
Century 21 agent Michael Egan <a target="_blank" href="https://www.century21.com.au/c21/propertySearch/brochure.cfm?grplstno=VIC619037&amp;listing=residential&amp;buyrent=buy&amp;sbrb=BrightonEast&amp;State=ViC&amp;pcde=3187">is marketing the property </a>with price hopes of $920,000 plus, which would secure an investor a gross rental yield of 2.7%, below the indicative gross rental yield of 3.3% for Brighton East houses, 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 price for Brighton East houses fell by 9.3% in the past year, according to RP Data. 
The property will be open for inspection on Saturday, February 11 at 1.45pm and will go to auction on Saturday, March 3 at 11am. 
For more about prices and yields in Brighton East, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
 
 
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Friday Form Guide: Yields of up to 6.1% in Potts Point

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<table style="width: 436px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="64" valign="top">
				Rank 2011
			</td>
			<td width="45" valign="top">
				Rank 2012
			</td>
			<td width="69" valign="top">
				Location
			</td>
			<td width="96" valign="top">
				Occupancy Cost (€/sq.m/year)
			</td>
			<td width="100" valign="top">
				Occupancy Cost US $/sq.ft/year
			</td>
			<td width="62" valign="top">
				Rental growth/decline (%)
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				1
			</td>
			<td width="45" valign="bottom">
				1
			</td>
			<td width="69" valign="bottom">
				Hong Kong
			</td>
			<td width="96" nowrap valign="bottom">
				2026
			</td>
			<td width="100" nowrap valign="bottom">
				244
			</td>
			<td width="62" valign="top">
				1
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				2
			</td>
			<td width="45" valign="bottom">
				2
			</td>
			<td width="69" valign="bottom">
				London (West End)
			</td>
			<td width="96" nowrap valign="bottom">
				1978
			</td>
			<td width="100" nowrap valign="bottom">
				239
			</td>
			<td width="62" valign="top">
				8
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				3
			</td>
			<td width="45" valign="bottom">
				3
			</td>
			<td width="69" valign="bottom">
				Tokyo
			</td>
			<td width="96" nowrap valign="bottom">
				1635
			</td>
			<td width="100" nowrap valign="bottom">
				197
			</td>
			<td width="62" valign="top">
				7
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				7
			</td>
			<td width="45" valign="bottom">
				4
			</td>
			<td width="69" valign="bottom">
				Moscow
			</td>
			<td width="96" nowrap valign="bottom">
				1223
			</td>
			<td width="100" nowrap valign="bottom">
				148
			</td>
			<td width="62" valign="top">
				41
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				n/a
			</td>
			<td width="45" valign="bottom">
				5
			</td>
			<td width="69" valign="bottom">
				Beijing
			</td>
			<td width="96" nowrap valign="bottom">
				1082
			</td>
			<td width="100" nowrap valign="bottom">
				130
			</td>
			<td width="62" valign="top">
				75
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				5
			</td>
			<td width="45" valign="bottom">
				6
			</td>
			<td width="69" valign="bottom">
				New York (Midtown)
			</td>
			<td width="96" nowrap valign="bottom">
				992
			</td>
			<td width="100" nowrap valign="bottom">
				120
			</td>
			<td width="62" valign="top">
				4
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				6
			</td>
			<td width="45" valign="bottom">
				7
			</td>
			<td width="69" valign="bottom">
				Sydney
			</td>
			<td width="96" nowrap valign="bottom">
				987
			</td>
			<td width="100" nowrap valign="bottom">
				119
			</td>
			<td width="62" valign="top">
				6
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				4
			</td>
			<td width="45" valign="bottom">
				8
			</td>
			<td width="69" valign="bottom">
				Rio de Janeiro
			</td>
			<td width="96" nowrap valign="bottom">
				904
			</td>
			<td width="100" nowrap valign="bottom">
				109
			</td>
			<td width="62" valign="top">
				-8
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				9
			</td>
			<td width="45" valign="bottom">
				9
			</td>
			<td width="69" valign="bottom">
				Paris
			</td>
			<td width="96" nowrap valign="bottom">
				875
			</td>
			<td width="100" nowrap valign="bottom">
				106
			</td>
			<td width="62" valign="top">
				5
			</td>
		</tr>
<tr>
<td width="64" nowrap valign="bottom">
				10
			</td>
			<td width="45" valign="bottom">
				10
			</td>
			<td width="69" valign="bottom">
				Zurich
			</td>
			<td width="96" nowrap valign="bottom">
				809
			</td>
			<td width="100" nowrap valign="bottom">
				98
			</td>
			<td width="62" valign="top">
				-3
			</td>
		</tr>
</tbody></table>
 Source: Cushman &amp; Wakefield 2011
David Woolford, Cushman &amp; Wakefield managing director, Australia, emphasised that although Sydney fell by one place in the rankings, it is clearly a world-class city.
“A comparison of occupancy costs between Sydney, New York and London shows the strength of the property market in Sydney. It is important to understand however that this is an average occupancy cost calculation across the numerous city submarkets, each of which has the capacity to vary significantly depending on building grade and location,” Woolford says.
“These variations can be quite dramatic, so it’s important to understand these submarkets before any location decisions are made.”
 
Technical notes: For comparison purposes, since rents are often quoted on a different measurement basis in different markets, occupancy costs in the chart above are inclusive of office rents that have been standardized by adjusting the rent to a net internal area basis. In addition, total occupancy costs take into account service charges and local taxes to allow direct comparisons between countries.
 
 
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Sydney slips to seventh on list of world’s most expensive office locations 2012

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

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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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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