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Matthew Perry, best known for his role as henpecked husband Chandler on sitcom Friends, has listed his Malibu house for US$13.5 million. Named The Pier House, it features four bedrooms, five bathrooms, excellent views, a firepit and a swimming pool overlooking the beach.
Perry bought the 10,000-square-metre property through a trust in 2005 for US$6.5 million. It is listed through <a target="_blank" href="https://losangelesrealestatevoice.com/mls-listing-detail/?id=97442390966&amp;from_search=1">Partners Trust Real Estate</a>.
Since the conclusion of Friends Perry has been involved with several short-lived projects, including starring in the Aaron Sorkin dramedy Studio 60 on the Sunset Strip and writing, producing and starring in Mr Sunshine, which only lasted on American network ABC for two months earlier this year.
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Friends star Matthew Perry lists in Malibu

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The Brisbane entertainment precinct of Fortitude Valley is becoming a hotspot for residential development, and a new 191-apartment complex is set to add to it upon its completion in early 2013.
David Devine’s Metro Property Development, in partnership with Pearls Australiasia, have designed the 14-storey Brooklyn complex on Brookes Street as a New York-style apartment building.
The 14-storey complex will comprise six studio apartments from $305,000, 85 one-bedroom apartments from $356,500, 21 two-bedroom, one-bathroom apartments from $489,500 and 79 two-bedroom, two bathroom apartments between $543,000 and $705,000.
“With its close proximity to the Brisbane CBD and Fortitude Valley’s vibrant shopping, restaurant and entertainment precinct, it’s extremely attractive to individuals and couples looking for an exciting inner-city lifestyle,” says Metro Property Development executive chairman David Devine.
Architecture firm Woods Bagot is designing the complex, which will be very modern in feel with extensive use of glass and textured concrete.
Woods Bagot principal Mark Damant says design of the development was inspired by its namesake city.
“The acknowledgement of the wider block and its urban context inspired the ‘New York’ approach to the design – presenting the building as a series of closely related individual towers, rather than a microcosm of a city,” Damant says. “Brooklyn on Brookes exudes cosmopolitan flair yet embraces the traditional rustic feel that is akin to Fortitude Valley’s urban footprint.”
The development officially launched yesterday, October 4, and Metro Property Development says it has had a flood of interest from potential owner-occupiers and investors, but local and overseas.
The building includes a swimming pool and gym, and the living area in each apartment will have full-width glass windows.
<a target="_blank" href="https://www.propertyobserver.com.au/developments/alex-perry-development-and-others-all-the-fashion-in-fortitude-valley/2011091551568">Other Fortitude Valley developments in the work include a 131-apartment building designed by fashion designer Alex Perry, the 20-storey Belise at 510 St Paul’s Terrace and Leighton’s 18-storey Mosaic project.</a>
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Fortitude Valley's Brooklyn development offers a taste of the Big Apple

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The most discounted property in Queensland is the second-most discounted property in Australia, 1350 Wynnum Road, Tingalpa. It has nearly halved its price but has yet to find a buyer in the nearly year it has been on the market. It's been regularly featured on Property Observer as it struggles to find a buyer even at its reduced pricing.
Last week SQM Research released a<a target="_blank" href="https://www.propertyobserver.com.au/victoria/southbank-properties-raise-price-expectations-but-still-feature-on-sqm-s-victorian-discount-list/2011092751713"> list of the most discounted properties in Victoria</a>, and the difference between the two states is striking. The 10th-place Queensland property, 13 Gawler Street, Rochedale South, is discounted by 25%, which is the same discount as the number one property on the Victoria list, 1/9 Albert Place, Hoppers Crossing.
Queensland vendors are offering steeper discounts, and RP Data analysis recently revealed that <a target="_blank" href="https://www.propertyobserver.com.au/residential/queensland-hit-hardest-post-gfc-as-6.3-of-homes-worth-less-than-their-purchase-price/2011092851719">6.3% of Queensland homes are now worth less than their purchase price</a>. Queensland has been hit hard with the declining tourism market and natural disasters and is struggling to recover from the GFC. 
"We believe that for the moment, houses in Brisbane are still considerably overvalued,” SQM director Louis Christopher says.
“House prices are running at a 27% premium to nominal GDP. On any measure, if this overvaluing continues, prices will correct further this year and possibly next year," Christopher says.
"Annually Brisbane house prices fell by 3.6% already over the period to June 2011, and over the 2011 calendar year SQM Research forecasts house prices for Brisbane to fall anywhere between -7.6% to -9.6%."
 
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a target="_blank" title="1350 Wynnum Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106966579">1350 Wynnum Road, Tingalpa, Queensland, 4173</a>
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $380,000
Reduction: 46%
Days on market: 322
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008940771" target="_blank">102 Fountain Road, Burpengary, Queensland, 4505</a>
On the market since: April 17, 2011
Initial asking price: $1.2million
Current asking price: $699,000
Reduction: 42%
Days on market: 162
 
3
<a target="_blank" title="128 Charlotte Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008735391">3307/128 Charlotte Street, Brisbane, Queensland, 4000</a>
On the market since: December 12, 2010
Initial asking price: $575,000
Current asking price: $399,000
Reduction: 31%
Days on market: 287
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008648371" target="_blank">190 Halls Road, Luscombe, Queensland, 4207</a>
On the market since: October 31, 2010
Initial asking price: $840,000
Current asking price: $600,000
Reduction: 29%
Days on market: 329
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009004616" target="_blank">37 Marlborough Road, Wellington Point, Queensland, 4160</a>
On the market since: May 22, 2011
Initial asking price: $1.25 million
Current asking price: $899,000
Reduction: 28%
Days on market: 126
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008269132" target="_blank">312/51 Hercules Street, Hamilton, Queensland, 4007</a> (pictured)
On the market since: March 14, 2010
Initial asking price: $1.6 million
Current asking price: $1.175 million
Reduction: 27%
Days on market: 560
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107499465">13 Henry Street, Greenslopes, Queensland, 4120</a>
On the market since: June 25, 2011
Initial asking price: $949,000
Current asking price: $699,000
Reduction: 26%
Days on market: 91
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106201967">38 Simon Street, Yeronga, Queensland, 4104</a>
On the market since: December 12, 2009
Initial asking price: $950,000
Current asking price: $700,000
Reduction: 26%
Days on market: 651
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106773785">4 Lower Clifton Terrace, Red Hill, Queensland, 4059</a>
On the market since: August 28, 2010
Initial asking price: $1.2 million
Current asking price: $895,000
Reduction: 25%
Days on market: 392
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107276504" target="_blank">13 Gawler Street, Rochedale South, Queensland, 4123</a>
On the market since: March 26, 2011
Initial asking price: $429,000
Current asking price: $350,000
Reduction: 25%
Days on market: 182
 
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
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Queensland vendors offer far deeper discounts than Victorians

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{yoogallery src=[images/stories/october4mallorca]}
Cielo de Bonaire, one of the world's most expensive villas, has been on the market with price hopes of €50 million ($69.24 million) since 2007 and is yet to find a buyer. Matthias Kuhn built the property on speculation, and it hit the market just before the GFC hit in early 2007. <a target="_blank" href="https://property.timesonline.co.uk/tol/life_and_style/property/overseas/article1834281.ece">The Times of London</a> reported at the time that it was part of the evolution from a cheap holiday destination for British sun-seekers to a billionaires' playground.
The eight-bedroom, eight bathroom mansion has3,500 square metres of living space, a helipad, tennis court, indoor and outdoor pools, five guest suites, servants' accommodation and the best views in Mallorca, as it is perched on a hillside with panoramas over the sea and mountains. 
The property is being marketed by<a target="_blank" href="https://www.propertyobserver.com.au/https://www.mallorca-sothebysrealty.com/en/property/id/573992"> Sotheby's</a>. 
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Luxurious €50 million villa in Mallorca on the market four years and counting

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{yoogallery src=[images/stories/october4zsazsa]}
Ninety-four-year-old actress Zsa Zsa Gabor has knocked $2.1 million off her price hopes for her ornate Beverly Hills mansion. Gabor listed the four-bedroom property in June 2011 for $15 million and now wants $12.9 million for it. 
As showy and glamorous as the Austrian-born star herself, the property features a grand formal sitting room with antique French fireplace, French details, mouldings and doors throughout, high ceilings, four guest quarters, servents' quarters and parking for 24 cars. Gabor says the house once belonged to Howard Hughes and Elvis Presley, according to listing agent Christophe Choo. While many celebrities keep their purchases and sales quiet, Gabor's property is being marketed at <a target="_blank" href="https://www.zsazsagaborbelairmansionforsale.com/">www.zsazsagaborbelairmansionforsale.com</a>. The house is also listed on <a target="_blank" href="https://www.privatecelebritycompound.com/">www.privatecelebritycompound.com</a>, which is also run by Choo.
Gabor came to prominence in the 1940s and is as well known for her multiple husbands (she has had nine, including current spouse Frédéric Prinz von Anhalt) and quick wit as she is for her film and television appearances. Gabor has recently suffered ill health, falling into a six-day coma in May 2011. 
Gabor has lived in the Beverly Hills house since 1974. 
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Zsa Zsa Gabor knocks $2 million off asking price for Beverly Hills mansion

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The outer-Melbourne suburb of Point Cook is set for a new 750-lot development, and developer Wolfdene will release the first 25 in stage 1 Saturday, October 8 at 11am.
Lots in first release of the Saratoga development will range from 392 square metres to 579 square metres and will range in price from $235,000 to $295,000. Oliver Hume Real estate, which is marketing the land, is offering house-and-land packages, or buyers can choose their own builders and designs.
Saratoga aims to combat the notion that new suburbs and developments lack community with a luxury recreation centre designed by SJB architects. The centre will include a swimming pool, gym, wine bar, cafe and meeting spaces.
“Our aim at Saratoga is to create a modern form of private estate living, a sanctuary from the hustle and bustle of city life. It’s a place where people can build their ideal home on one of the many quiet, leafy streets within a few short paces of their own vibrant community hub where they can socialise, exercise or enjoy a coffee,” says Wolfdene managing director Michael Goldthorp.
The entrance to the site is set to be marked by a sculptural feature designed by SJB and designed to include natural elements and the history of Point Cook, which was a pastoral holding dating back to the mid-19th century.
“We’ve created a gateway feature that combines an arrival experience with the sense of a journey as you make your way through the site,” says SJB director Tony Battersby. “The area is completely flat with no elevation, so we are looking at ways of creating a topography where previously there was none, altering the landscape to create unusual forms and incorporating pieces of urban art within a new landscape.”
Point Cook is 25 kilometres from Melbourne CBD, and its population is growing rapidly. Currently home to about 30,000 residents, the suburb is expected to have more than 40,000 by 2016 and 60,000 in 2025.
A display village with 40 different types of homes is expected to be finished in late 2012.
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Point Cook's 750-lot Saratoga development to launch this week

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A six-storey house overlooking Lake Tahoe in Nevada, in the US, has been listed with price hopes of $43 million. The owners, Linda and David Shaheen, began building the 836-square-metre house in 2001, and it was finished in 2010. 
Only the garage is visible from the street, as the rest of the house is built into a slope overlooking the lake. Its walls are angled glass and it includes a spiral glass stairway and glass lift to all six levels. It includes a steel pier out into the lake, a gym and a spa.
According to the <a href="https://online.wsj.com/article/SB10001424053111903791504576584732133926352" target="_blank">Wall Street Journal </a>the Shaheens, who were in the carpet business, bought the land for $2.7 million and tore down the existing structure. The house is being marketed by <a href="https://www.cbselectre.com/homes/NV/Crystal_Bay/89402/580_GONOWABIE_RD/10975280/index" title="Coldwell Banker" target="_blank">Coldwell Banker</a> agent Charlyn Enstad.
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Cold comfort in Nevada

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20 Carrington Street, Granville, NSW, 2142
<img src="/images/stories/carringtonst.jpg">
This renovated three-bedroom home is currently rented out at $430 per week. Although their lease expires on Saturday, October 1 listing agent Graham Ball of <a href="https://www.raywhite.com/nsw/granville/663343/" title="Ray White" target="_blank">Ray White Fairfield</a> says they are keen to stay on. The 638-square-metre block includes a seven-metre driveway to a spacious backyard, which will likely appeal to tenants with families. Bell says there has been considerable investor interest in the property, which he estimates will sell for the "mid-$400,000s". If it sells for $450,000 the buyer would secure a yield of 5%, higher than the indicative gross yield for Granville houses of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property will go to auction on Saturday, October 1 at 3pm. 
For more about indicative gross rental yields and prices in Granville, see the <a href="/news">RP Data suburb page</a>. 
For more investment opportunities going to auction this Saturday, see pages 2 and 3.
 
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1/23 Rathmines Street, Fairfield, VIC, 3078
<img src="/images/stories/faifield.jpg"> 
In a quiet street near Yarra Bend Park and Fairfield Boathouse, this two-bedroom apartment could appeal to tenants. It is close to Station Street shops and cafes and transport. <a target="_blank" href="https://www.jelliscraig.com.au/property/FAIRFIELD-1/23-Rathmines-Street/3098137/">Jellis Craig</a> agent Bev Adam is marketing the property with price hopes of $380,000 plus and says it has the potential to rent for about $300 to $340 per week. If it sells for $380,000 and rents for $420 per week, that would be a gross rental yield of 5.8%, far higher than the indicative gross rental yield for Fairfield units 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. The property will go to auction on Saturday, October 1 at 10am. 
For more about yields and prices in Fairfield, see the <a target="_blank" title="Fairfield" href="/news">RP Data suburb page</a>.
 
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13/1 Wellington Crescent, East Melbourne, VIC, 3002
<img src="/images/stories/wellingtoncresc.jpg"> 
This recently redecorated one-bedroom apartment is on the edge of the city and is likely to appeal to young professional tenants. The building includes a gym, pool and sauna. The apartment also comes with a car parking space. <a target="_blank" title="Caine Real Estate" href="https://www.caine.com.au/view.php?OID=3097505">Caine Real Estate </a>agent Paul Caine is marketing the property with price hopes of $400,000 plus and says a rental analysis estimates the property could rent for between $440 and $480 per week. If it sells for $400,000 and rents at $480 per week, this would be a gross yield of 6.2%, far higher than the indicative gross rental yield of 3.6% for East Melbourne 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 property will go to auction on Saturday, October 1 at 10am. 
For more information about prices and yields in East Melbourne, see the <a target="_blank" href="/news">RP Data suburb page</a>.
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Friday Form Guide: Yields of up to 5% in Granville

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New home sales have concluded a dramatic bout of declines by rising 1.1% in August, according to latest figures from the Housing Industry Association, although improvements have been confined to a few states.
The figures show sales rose by 1.1% after plummeting 8% in July and 8.7% in June, strengthening the group’s push for industry assistance at next week’s Tax Forum.
HIA chief economist Harley Dale says although the result appears positive “there is a little bit of devil in the detail”.
“If you look at the results in Queensland, during the month of August this was actually the first month that the state government building boost came in,” he says.
“That has given the industry a small lift off a very low base.
“You’ve got a modestly better month in Victoria within an overall downward trend and that has been the healthiest markets.
“There are specific results that have led to the boost in the headline rate.”
The results show that detached home sales rose by 1.5% but overall are down by 15% over the August quarter.
Sales of multi-units fell by 2.2%. In Queensland sales of detached homes rose by a massive 9.8% while Victorian sales rose by 3%.
But Dale points out that New South Wales sales fell by 5.8% – the fourth straight decline – while sales fell by 4.7% in South Australia and by 0.7% in Western Australia.
<img src="/images/stories/hiasept28.gif">
Dale warns that while the results may show an improvement for this month overall they show a severe downward trend.
“Sales are still down by about 15% and we continue to get signs that new home building conditions are deteriorating, and those are deteriorating amid concerns about the global economy,” he says.
Lower consumer confidence has restricted sales and small businesses are collapsing as a result.
During the past six months various building and construction firms have been placed into receivership or administration due to lower demand for construction.
CommSec economist Craig James commented on the result by comparing them to a “dead-cat bounce”.
“Aussie consumers and home-buyers remain super cautious and that mood is continuing to constrain activity for retailers and housing dependent businesses,” he says.
“Anecdotally the recent drop in fixed term interest rates is boosting enquiry levels in the housing market but it is yet to show up in the data.”
Dale says the results in Queensland bolster the call for national stimulus.
“The case for stimulus is strengthening as the industry weakens,” he says.
This article originally appeared on <a href="https://www.smartcompany.com.au/property/20110928-new-home-sales-rise-1-1-but-housing-industry-still-concerned" title="SmartCompany" target="_blank">SmartCompany.</a>
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New home sales rise by 1.1% but housing industry still concerned

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A private island off the coast of the ritzy Connecticut town of Stanford has been listed for sale with price hopes of $18.9 million. The 1.2-hectare island is connected to the mainland US by a bridge and includes a 1,300-square-metre, 11-bedroom main house, guest house, greenhouse and staff quarters to look after it all. The property is being marketed by <a target="_blank" title="Houlihan Laurence" href="https://www.houlihanlawrence.com/real-estate/propertydetail/79166/STAMFORD/140-WALLACKS-DR,ST,-Greenwich,-CT-06902">Houliahan Lawrence</a> estate agents. 
Those with deep pockets who would like their own private island but don't want to withstand the metres of snow a New England winter can bring could consider buying closer to home, as <a href="https://www.propertyobserver.com.au/rural/nsw-farming-island-hoped-to-attract-luxury-buyers/2011082851314" title="Rural island up for sale" target="_blank">Urunga Island</a> off the coast of NSW and <a href="https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465" title="NQR islands in FNQ" target="_blank">Dunk and Beddara islands</a>, slightly storm-damaged but still in tropical far north Queensland, are also up for sale.
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Island offering for $18.9 million

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.

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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."

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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."

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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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