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{yoogallery src=[images/stories/august12sackville]}
49 Sackville Street, <a target="_blank" title="Kew" href="/news">Kew</a>, VIC, 3101
A well-renovated original home in a prized Kew precinct. Sackville Street contains many fine original homes and is leafy, yet it does carry traffic (particularly during school pick-up/drop-off times). The fact that this has car access off John Street is a big plus here, particularly in light of this.  
Main pluses - the floor plan is practical and suits modern living well, block size and northern rear orientation.  Backyard / rear patio is little exposed (given relative levels and block slope), yet this could be addressed if it were to become an issue for the buyer.  
Also being over a single level, an older family may like better bedroom separation, yet the basement living area helps with this and provides a place for older kids to retreat to. Overall a very good property, and one that should attract good competition at the right price point.
- Adam Woledge
Powerful Sackville ward Kew offering with the classic features and agent to make for an exciting auction or post-auction negotiation. Being picky out the back lets it down a bit; but overall you can smell the money as you walk through this home. Circle $4 million - in this market - yep.
- Mal James
James Buyer Advocates gives this property a rating of 787 out of 1000, which is in the Well Above Average category. It sold at auction on Saturday, August 13 for $4.31 million.
Adam Woledge is a registered architect and principal buyer advocate at <a target="_blank" title="James Buyer Advocates" href="https://www.james.net.au/">James Buyer Advocates</a>. Mal James is principal buyer advocate at James Buyer Advocates, which includes home ratings, market news and buying advice on its website.
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cknowlton-QnEa6ntUYP

Well-renovated Kew property has a lot to recommend it

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5 Alex Place, Bligh Park, NSW, 2756
<img src="/images/stories/blighplace.jpg">
This property is currently rented at $400 per week and could make a good prospect for investors. The lease was negotiated about six months ago and has expired, but the tenant is keen to stay on. The three-bedroom, one-bathroom house is light and airy, close to schools and transport and includes a garage or shed with workshop. It is being marketed by <a href="https://www.vibeproperty.com.au/bligh-park-5-alex-place-2/" title="Vibe Property " target="_blank">Vibe Property Richmond</a> agent Michael Mahboub with price hopes of $399,000 plus. If it sells for $399,000 it would net investors a yield of 5.2%, about the same as the suburb's gross indicative yields for houses of 5.3%. It goes to auction on Saturday, August 13 at 11am.
For more information about prices and yields in Bligh Park, see the RP Data suburb page.
For other investment prospects going to auction this weekend, see pages 2 and 3.
 
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64 Emu Parade, Jacana, Victoria, 3047
<img src="/images/stories/emuparade.jpg"> 
A rent assessment of this three-bedroom property estimates the potential for $310 to $340 per week in rent. The land size is 788 square metres, and it includes two carport spaces and one garage space. It is being marketed by <a href="https://www.raywhite.com/vic/jacana/643350/" title="Ray White" target="_blank">Ray White Tullamarine</a> agent Danny Coffey with price hopes of $320,000 plus. The property was passed in at auction on Saturday, August 13 at 11am. 
For more information about prices and indicative yields in Jacana, see the RP Data suburb page.
 
<hr class="system-pagebreak">
  
8/178 Kurraba Road, Neutral Bay, NSW, 2089
<img src="/images/stories/kurabnuetral.jpg"> 
This studio apartment is well located near ferries, parkland and shops and could appeal to tenants. It is within easy community distance of the city and North Sydney. Listing agent Simon Nakhla of <a href="https://www.mcgrath.com.au/buy/apartment-neutral-bay-nsw-2089/131845/?searchID=8202177" title="McGrath" target="_blank">McGrath Neutral Bay</a> says the property has generated a lot of investor interest. It is being marketed with $250,000 plus hopes. Indicative gross yields in the area are 2.5%, according to RP Data. It was passed in with a vendor bid on Saturday, August 13 at 9am. 
For more information about prices and indicative yields in Neutral Bay, visit the RP Data suburb page. 
<div id="_mcePaste" class="mcePaste" style="position: absolute; left: -10000px; top: 344px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;">https://www.propertyobserver.com.au/data/suburb/bligh-park-nsw</div>
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Friday Form Guide: Yields of up to 5.2% in Bligh Park

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{yoogallery src=[images/stories/august11woolworth]}
4 East 80th Street, New York, NY, 10021
Retail chain magnate Frank Woolworth, who was to the United States in the 19th century what Frank Lowy is to Australia today, engaged the famed architect Charles Pierpont Henry Gilbert to build three adjacent townhouses on New York's Upper East Side, the haven of the old moneyed. This property at 4 East 80th Street was built for Helena and was finished in 1916. <a href="https://www.propertyobserver.com.au/https://www.bhsusa.com/manhattan/upper-east-side/east-80th-street/rental/1207018" title="Brown Harris Stevens" target="_blank">Brown Harris Stevens</a> agent Paula Del Nunzio has listed for sale for a whopping $90 million, or for those slightly less cashed-up, for rent for $165,000 per month. Ceilings are four metres high, and the six-storey building includes a roof garden, a dining room that can seat 50, a wood-panelled library, two kitchens (one for the servants, naturally), a gym and a stained-glass skylight. The house was most recently owned by fitness entrepreneur Lucille Roberts, whose 47 eponymous women's gyms are spread throughout the New York metropolitan area. Roberts died in 2003.
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Townhouse for sale for $90 million, for rent for $165,000 a month

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40-42 The Peninsula Parade, Sovereign Islands, Queensland, 4216
On a 1,412-square-metre block with 43 metres of waterfront, this mansion is built in the style of prestige properties in New York enclave of the rich and famous The Hamptons. The five-bedroom, six-bathroom property includes vast open spaces, a resort-style swimming pool, wet bar and all of the luxurious brand-name and marble extras you would expect from a property being marketed with $4.25 million hopes. The property includes broadwater access, as well-heeled yachties are its target demographic. It is being marketed by <a target="_blank" title="Caldwell Banker Ledgerwood " href="https://www.cblrealty.com.au/buying/QLD/Gold-Coast-and-Hinterland/SOVEREIGN-ISLANDS/House/31P0186">Caldwell Banker Ledgerwood Realty</a> agent James Ledgerwood. 
 
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Resort-style living in Sovereign Islands

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Twenty-one out of the 48 apartments in a new development in the Melbourne suburb of Blackburn have sold in the first three weeks since its launch.
Q2, which will comprise 48 one- and two-bedroom apartments, was designed by Hayball architects and developed by Kokoda property. Construction is expected to begin in late September and is expected to be completed by late next year.
<img src="/images/stories/blackburn1.jpg">
The development is at 2 Queen Street, close to <a target="_blank" title="Blackburn" href="/news">Blackburn </a>railway station and shops and cafes on the Maroondah Highway.
“At the end of Queen Street is the station and all of the shops, so convenience-wise it’s a great spot,” says David Howard, sales associate at Castran Gilbert, which is marketing the property. “You can walk to the end of the street, jump on the train and you’re off to work.”
<img src="/images/stories/blackburn2.jpg">
One-bedroom apartments, which range from 50 to 63 square metres, start from $345,000. Two-bedroom apartments, which range from 61 to 68 square metres, start from $475,000. 
According to RP Data, the median price for apartments in Blackburn is $550,000, and the gross indicative yield for the area is 3.3%.
<img src="/images/stories/blackburn3.jpg">
Howard says most of the interest has come from owner-occupiers who already live in the area.
“We’ve had some people downsizing who already live out in the eastern suburbs and no longer need the big family home,” he says. Howard estimates that most of the buyers come from a five- to 10-kilometre radius of Q2.
However, “you’ll always get investors as well”.
The development launched the weekend of July 16 and 17.</body></html>

Blackburn development 45% sold in three weeks

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{yoogallery src=[images/stories/august9roseville]}
26 Clanville Road, Roseville, NSW, 2069
This five-bedroom, four-bathroom house has been in the same family for 50 years. It has been tastefully updated and includes a heated saltwater pool and a tennis court. The floors are made of blackbutt timber, and all of the bathrooms have marble detailing. It is within walking distance of Roseville train station, shops and cafes. The property is being marketed by<a href="https://www.belleproperty.com/for-sale/NSW/North-Shore-Upper/Roseville/House/25P0169-26-clanville-road-roseville-nsw-2069" title="Belle Property" target="_blank"> Belle Property Killara</a> agent Chana Scotcher with price hopes of $4.6 million. It goes to auction on Saturday, August 27 at 3.30pm. 
 
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Everything's coming up Roseville

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The monthly private sector credit numbers for June 2011 were released by the Reserve Bank last week. The data highlights the amount of outstanding credit for the private sector. Of particular interest is the housing credit data.
<img src="/images/stories/tighthousing1.jpg">
Housing credit is broken into two parts: owner occupier and investor credit. Total housing credit grew by just 6.0% over the 12 months to June 2011, the slowest annual rate of growth in housing credit over the length of the time series which dates back to January 1991. Owner occupier credit increased by just 6.5% over the year and investor credit grew by 5.8%. Annual owner occupier credit growth was the lowest in history while investor finance growth reached a low of 2.3% in October 2009.
The limited growth in credit is indicative of the response to the Global Financial Crisis (GFC) by financiers, having tightened credit requirements for home loans. It is also representative of the higher interest rate environment resulting in lower home loan demand and consumer caution which is resulting in home loan owners paying down debt.
The annual growth in housing credit across Australia has actually been easing ever since March 2004, which was also the time the housing boom of 2001-04 was starting to run out of puff. As the graph shows, ever since private sector housing credit peaked the rate of capital growth in property values has also been slower.
<img src="/images/stories/tighthousing2.jpg">
The most recent RP Data-Rismark Capital City Home Value data is to June 2011, 74 months since housing credit began to fall. Over this time, home values across the combined capital cities have increased by a total of 40%. During the preceding 74 months, capital city home values increased by a total of 97.4%. The evidence certainly suggests that as growth in housing credit slows so too does the rate of property value appreciation.
Although a decline in housing credit is likely to result in lower levels of home value growth, there is no precedent that it will result in substantial falls in home values.
<img src="/images/stories/tighthousing3.jpg">
What is a likely result of lower growth in housing credit is a lower number of housing transactions. When the volume of home sales in the three largest cities (Sydney, Melbourne and Brisbane) are plotted against the annual change in housing credit you can see that volumes have been trending lower since growth in housing credit peaked during March 2004.
Obviously this changing market dynamic is going to have an acute impact on home owners and property professionals.
Home values are unlikely to grow at a similar pace to that which they have grown in recent years. It is important to note that this shift has been happening without much notice in recent years. Over the past five years, capital city home values have grown at an average annual rate of 5.5% compared to annual growth of 7.1% on average over the decade. So clearly the last five years have recorded a much slower rate of capital gains than the preceding five years. Lower rates of capital growth mean less equity in homes and as a result less housing market speculation. In-turn, we will likely see fewer investors actively looking to invest in property unless rental returns climb markedly from their current levels, providing opportunities for positive gearing.
For property professionals, fewer transactions coupled with lower equity levels is likely to result in less commission and lower demand.
How long will these conditions last? Who's to say but affordability is an issue and not one that is likely to be improved upon quickly so these conditions are the new normal with property values likely to grow more in-line with household incomes going forward. The banks have stated that consumers will have to get used to lower levels of credit after the GFC, now obviously that won't continue forever but a restricted credit supply is likely to remain for a number of years, especially while debt problems persist in many economies.
Tim Lawless is the head of research for<a target="_blank" title="RP Data" href="https://www.rpdata.net.au/"> RP Data</a>. This article originally appeard on <a target="_blank" title="SmartyCompany" href="https://www.smartcompany.com.au/property/20110808-tight-housing-credit-brings-little-joy-to-the-market">SmartCompany</a>.
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Tight housing credit brings little joy

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After a sharp slump in share markets – as we are now seeing – it is natural to wonder what the implications for residential property market might be. 
Will investors rush into property as a safer alternative to shares much as occurred after the 1987 share crash? Or will the deteriorating economic backdrop cause buyers to sit on the sidelines as distressed selling picks up, much as occurred initially around the GFC? 
Our view is that the odds favour the later. As in 2008, the environment today is very different to what see saw after the 1987 share market crash – there is much more economic uncertainty, house prices are percieved as overvalued and affordability is terrible. Investor surveys show that property is almost as out of favour for investors as shares are.
With non-mining parts of the economy already struggling, the global outlook taking a turn for the worst, share markets falling and unemployment likely to start drifting up again, it is likely we will see an increase in the supply of homes on the market over the next few months, particularly at the upper end. This combined with fear of the unknown keeping potential buyers on the sidelines is likely to ensure that the recent softening in house prices will continue into year end.
Eventually the RBA will start to cut interest rates and this should start to help the residential property market from around the middle of next year, but in the meantime its hard to see the property market picking up.
Shane Oliver is chief economist at <a href="https://www.ampcapital.com.au/" title="AMP Capital Investors" target="_blank">AMP Capital Investors</a>.
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Property to be sidelined until mid next year

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{yoogallery src=[images/stories/august8story]}
75 Storys Creek Road, Avoca, TAS, 7213
Bona Vista Farm is part of Bona Vista Estate, which was granted to Simeon Lord in 1826. The farm has been leased since 1997 and comprises 2,015 hectares of grazing land and 1,380 hectares of native grassland and forest. It includes a four-bedroom farm manager's house, a two-bedroom station hand's cottage and a machinery shed. The property is on the South Esk River and is about an hour from Launceston. The property is being marketed by<a href="https://www.robertsre.com.au/cgi-bin/clients/robre/home.cgi?gid=23201" title="Robert Rural Real Estate" target="_blank"> Roberts Rural Real Estate</a> Launceston agent Peter Stackhouse with price hopes of $3 million plus.
 
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Bona Vista beauty in Avoca

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{yoogallery src=[images/stories/august5annanicole]}
3646 Avenida Del Sol, Studio City, CA, 91604
The Mediterranean-style mansion where the late Anna Nicole Smith lived and filmed her reality show The Anna Nicole Smith Show has been listed with price hopes of $1.75 million. The 440-square-metre five-bedroom house has panoramic city and canyon views. The mansion features a four-car garage, wrap-around balconies and of course a pool. Smith, a former Playboy Playmate, came into the public eye when she married octogenarian oil tycoon and billionaire J. Howard Marshall in 1994. Thirteen months later Marshall died, leaving Smith half his $1.6 billion estate. Smith died in 2007 of drug intoxication. Blockshopper.com shows the property's owners as Smith's production company, Hot Smoochie Lips, and Smith's onetime partner Howard K. Stern.
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Anna Nicole Smith's former house for sale

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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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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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