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The raw data don't lie, says Louis Christopher

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<a href="https://www.propertyobserver.com.au/residential/hanging-gardens-of-the-world/2011062350586" target="_blank">Recently</a> we looked at the growing trend of architects designing buildings with gardens in unlikely places, such as on the roof or walls. Here are 10 examples from around the world of buildings that have gone green all over.</div>
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Triptych - Melbourne’s answer to Sydney’s Patrick Blanc-designed Trio building, which has a 33-metre by five-metre garden on one wall, would no doubt be the 187-square-metre living wall at one of Southbank’s newest developments, Triptych. Rising from levels two to six above the Kavanagh Street entrance, the wall includes 43 species of plants and grasses, selected to withstand the unpredictable Melbourne climate. Gardening firm Fytogreen grew the garden off-site and has also decked out the lobbies with vertical gardens.</div>
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Adelaide Zoo – When Adelaide Zoo unveiled its giant panda exhibit last year, the endangered animals weren’t the only attraction. Fytogreen was also behind the creation of the enclosure’s two vertical garden walls, comprising about 10,000 plants encased in biodegradable foam modules. Fytogreen is currently working on Australia’s largest green roof at the Victorian Desalination Plant, which is worth $4.2 million and due for completion in December 2011.
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MONA, Hobart – Patrick Blanc’s now global brand of vertical gardens has made it across the Tasman to the Museum of Old and New Art, or MONA, in Hobart. As if artworks themselves, Blanc’s internal garden walls sit alongside Egyptian tombs and subversive pieces of contemporary art in David Walsh’s $100 million museum.
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Caixa Forum, Madrid - Adjoining Caixa Forum, a post-modern art gallery in Madrid, is another Patrick Blanc creation. The green wall complements the nearby Botanical Gardens while making a vivid contrast with the gallery’s rusted red steel façade. This 2007 work is one of Blanc’s larger works. His smallest is “la robe vegetal”, a gown made from plants he created with Jean Paul Gaultier.</div>
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Reykjavic City Hall – This 20-year-old civic building in the Icelandic capital is home to an impressive full-moss walls that runs directly into the waters of Lake Tjornin. Phillip Johnson is promoting the moss wall concept to Australia. “It’s a really resilient form of green wall that changes colour when it dries out, then comes back to life when it rains. It works well on south-facing walls and can have an amazing evaporating cooling effect.”
 
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ACROS Fukuoka building –This unconventional Japanese office building was built on top of precious parkland in Fukuoka City. Therefore, the architects sought to recreate the green space by installing tiers of terrace gardens that step up 60 metres from the parkland below. The building is cloaked in 35,000 plants representing 76 species, creating a cool environment for office workers.
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California Academy of Science, San Francisco – Imagine the domed contours of Melbourne’s Southern Cross Station, cover it in 1.7 million plants, and you have something like architect Renzo Piano’s stunning living roof at the California Academy of Science. The one-hectare roof mimics the bay area’s hilly terrain and includes native flora that provides endangered insects with a protected habitat.
 
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Waldspirale, Darmstadt, Germany – Literally translating to Forest Spiral, this residential complex is all colours and curves with a truly unique rooftop garden. Austrian artist and architect Friedensreich Hundertwasser designed Waldspirale in the 1990s and became famous for blending bold colours and uneven levels with the natural landscape.
 
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Kensington Roof Gardens, London – Virtually invisible from the street, Europe’s largest roof garden (6,070 square metres) is accessed via a discrete doorway marked simply “99 Kensington High Street”.
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Commissioned in the 1930s by a department store magnate, the rooftop includes themed Spanish, Tudor and woodland gardens complete with garden pond and resident pink flamingos. Sir Richard Branson purchased the gardens in 1981.
 
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Elizabeth Street Common Ground, Melbourne – Not all vertical and rooftop gardens are for the rich and famous. For example, this social housing development on Elizabeth Street has a large rooftop garden, which developer David Waldren of Grocon says has multiple functions. “It plays an important part of resident rehabilitation, includes a productive veggie garden and provides a safe place for children who live on the upper floors to play.”
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Hanging gardens of the world

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All three of the properties Property Observer focused on last Friday were passed in at auction.
<h2>South Australia</h2>
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6 Stephen Street, Mount Barker, South Australia, 5251
A local landmark, this four-bedroom, two-bathroom house is known to residents in the area as "Stephen's house". Originally a stone cottage built around 1900, the property has been seamlessly updated and extended throughout the years and now has plenty of space. It is only 20 minutes by public transport to Adelaide CBD. The house has a rental potential of $550 to $600 per week. The house was passed in at auction on Saturday, June 25. It is being marketed by <a href="https://www.popenitschke.com.au/?pagecall=property&amp;propertyID=1669895" title="First National Pope Nitschke" target="_blank">First National Pope Nitschke</a> agent Ally Woolcock, with price expectations of $560,000 plus before the auction. Woolcock says the vendors are now saying price on application for the property.
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Victoria</h2>
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4/ 43 St Vigeons Road, Reservoir, Victoria, 3073
This one-bedroom unit has a tenant on a secure lease until the end of 2011, making it a good purchase for investors. Average rent in the area for units is $300 per week. The property has a private courtyard, landscaped gardens and timber floorboards, and it is within walking distance of Leslie Reserver, Banff Street shops and Reservoir Views Primary. The unit was passed in at auction on Saturday, June 25. It is being sold by <a target="_blank" href="https://www.raywhite.com/vic/reservoir/618675/">Ray White Reservoir</a> agent John Catanzariti, who said price expectations were about $270,000 plus before auction, but now says the owners are hoping to secure about $315,000 plus. 
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New South Wales</h2>
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76 Rawson Road, Guildford, NSW, 2161
This renovated, three-bedroom house faces north and is light and airy. It would be a good property for an investor, with rents in the area about $400 per week. The bathroom and kitchen have been updated, and a large back yard means it should be easy to find families to rent it. The house was passed in at auction on Saturday, June 25. It is being sold by <a href="https://www.raywhitegranville.com.au/pol/property/search.asp?f_propertyID=1681204&amp;xsl=3923&amp;f_st=1&amp;f_ct=&amp;f_ps=2" title="Ray White Granville" target="_blank">Ray White Granville</a> agents George Jammal and Gassan Mahfoud, who gave a pre-auction price guide of about $380,000 plus. Now Mahfoud says the owners hope for $429,000 plus.
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Form guide wrap: Investors stay on the sidelines

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30 St Vincent Place, Albert Park, Victoria, 3206
This historical landmark property built in 1866 and sitting on approximately 1000 square metres of land has been rated as land only.
Behind the classic double fronted Italianate facade is an original Victorian property, almost unchanged from the day it was built. Surprisingly, this property comes complete with stables to the east and two small Victorian cottages to the west, which some may find quite inconvenient as they take up a large portion of the land. The excellent rear street access allows the possibility to convert these outbuildings into a more practical arrangement – the stables could transform  into a double garage with studio apartment above, and the two cottages could be used as a teenager's retreat or elderly parent's small home away from home.
The main home itself presents a unique opportunity for the purchaser to completely refurbish the property, as its original condition renders it unliveable. There is scope to further improve the home by extending the north-facing rear to create flexibility and connection to the outside. Therefore, the additional expense of adding a second storey to the home in order to create extra space and light may not be necessary.
The issues from a buyer's perspective will be the significant financial expenditure required to bring this home into the 21st century, dealing with heritage overlay restrictions and the length of time, possibly eighteen months or more, which may be needed to complete the restoration and construction. That said, this is possibly one of Melbourne's most prestigious streets, close to everything with an opportunity to create a property that would equal some of the best in the country. James Buyer Advocates gives the property a rating of 765/1000, which puts it in the Well Above Average Category.
The property was sold by <a target="_blank" title="Marshall White" href="https://www.marshallwhite.com.au/?pagecall=property&amp;propertyID=1670314">Marshall White</a> agents Simon Gowling and Oliver Bruce at auction on Sunday, June 26 at noon. It sold for $6.62 million.
Guy Angwin is a buyer advocate at <a title="James Buyer Advocates" target="_self" href="https://www.jamesbuyeradvocates.com.au/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. James provides home ratings, weekly auction reports and market analysis on its website. 
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Unrivalled potential in Albert Park attracts four bidders

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63 and 67 155 Brebner Drive, West Lakes, SA, 5021
The penthouse and subpenthouse of a luxury development in West Lakes offer a perfect position, stunning features and fittings and opulence in spades. The penthouse has threebedrooms and a study, and the sub-penthouse has three bedrooms. Both feature marble bathrooms and huge home theatre rooms (the penthouse home theatre room comes with a built-in bar). The master ensuites in each features a sauna and spa. They are being sold by<a target="_blank" title="LJ Hooker West Lakes" href="https://www.ljhooker.com.au/westlakes"> LJ Hooker West Lakes </a>agent Justin Peters with a price expectations starting at $3.2 million.
 
 
 
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Castles in the sky in West Lakes

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A group of real estate agencies is preparing to limit the amount of data they provide advertising giant REA Group and its property site realestate.com.au in order to have more control over payment terms.
But real estate classifieds veteran and former REA Group chief executive Simon Baker has dismissed the plan as “noise”.
According to Real Estate Industry of Australia president David Airey, “Project Rebellion” is being headed up by various real estate groups including the Professionals and Ray White in order to reduce their costs for online listings.
“I think the agents are starting to feel like they’re giving away the farm. The information has been essentially enslaved by realestate.com.au and to a lesser extent Domain.com.au, but realestate.com.au has been the main one here,” Airey says.
“As a lot of the agents would say, they’ve enslaved the industry because you can’t do without them.”
Airey’s comments coincide with a report in The Australian Financial Review this morning which claims groups including LJ Hooker, Ray White, Raine &amp; Home and Century 21 are preparing to discuss how they can set up alternatives to REA Group.
Airey says a meeting set to take place in the next few weeks will see companies decide on their next course of action.
While real estate agents have long said they are unhappy with the high costs associated with putting data online through REA Group, alternative ventures to combat realestate.com.au have lacked momentum. Now, Airey says, that may change.
“The franchised groups and a few others are looking at restraining the flow of data. Agents will probably start to retain their own data and then release it to the institutes.
“You do have real estate institutes running web portals, information on sales, and so on. The aim is to start controlling their own data, and let’s say this is little footsteps of returning control to industry portals.”
This has happened before, however. Real estate companies have previously attempted to combat REA Group, but former chief executive Simon Baker says it’s incredibly difficult to do so.
“I would say the industry for many years has complained about pricing – it’s all too much, in their mind. But it’s okay to spend more than on print. So you always get this noise, and so I think it’s just that – noise.”
“You have to do a number of things here. You have to set up a website with an equivalent number of listings, because if you have less listings people aren’t going to visit your website.”
Then, he says, the site needs to create awareness, and then convince users they need to go to the new site instead of REA. Traffic is a huge issue, he says.  “Consumers need a reason to go from looking at REA to looking at your site.”
“Good luck at getting all those into place. You also have to get agents to stop dealing with REA. But you have to see a co-ordinated effort to change anything.”
Airey, however, remains positive.
“Previously when this has occurred everyone thinks, “Oh, it won’t happen.” But the biggest issue for agents is that their costs have blown out, and for the slightest thing you can be charged a large amount of money. Agents want more control.”
This article was originally published by <a href="https://www.smartcompany.com.au">SmartCompany.com.au</a>
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Real-estate agents planning rebellion against REA dominance

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Hanging from a rock face 30 metres from the ground is not usually the time or place for thinking about your garden.
But for Phillip Johnson it was scaling the heights of the Grampians’ Mt Arapiles that inspired him to take a leap into the world of vertical gardens.
The daredevil-turned-horticulturalist has since taken his love for gardens to the most extreme and unlikely of places – the soaring wall of TRIO apartments in the Sydney suburb Camperdown.
Last month his 33-metre by five-metre vertical garden, which spans 12 storeys and includes 4,528 native plants, picked up the top gong for commercial landscaping at the Australian Landscape Excellence Awards.
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The stunning design (pictured above), and Australia’s tallest living wall, was created in partnership with botanist Patrick Blanc, a flamboyant Frenchman whom Johnson describes as “the grandfather of green walls around the world”.
Their win was described as “pioneering” – a term Blanc knows well but one Johnson will have to get use to.
“It is still very early days in Australia,” he says. “The vertical garden movement is starting, but I say bring on the revolution.”
Johnson believes we are a good 10 years behind Japan and some cities in Europe and North America, which due to high-density living were more prone to greening up irregular spaces like walls and rooftops.
“In Japan idea of green walls is so evolved that they call them bio-lungs, which acknowledges the bio-diversity and the improved air quality they bring to the urban environment.”
Johnson says Australian developers and property investors need to understand that vertical gardens are more than just window and wall dressing.
“We all know what plants do for removing Co2, but these gardens also become living habitats attracting birds and butterflies to their buildings.
“They are also effective for insulating against heat and reducing city noise,” he says.
“Greening up our cities is in everyone’s interest, and contrary to what many people think, it doesn’t need to be complicated. If we use the right systems and have the proper level of maintenance, it can be achieved.
“And we need to show how landscapes like this can add value to property.”
Although it can be difficult and costly to install vertical gardens in existing buildings, the “revolution” depends on developers who see the benefits –but also the commercial viability – of including living green spaces in their new projects.
Frasers Property, the company behind Trio and the planned One Central Park apartments in inner Sydney, is one developer flying the green flag.
“We’ve looked carefully at the installation and operational costs of vertical gardens, and in our experience, they are no more costly to install than commonly used stone-clad facades, but they are clearly more appealing,” CEO Guy Pahor says.
“With respect to ongoing maintenance, when amortised across the 623 apartments at One Central Park, it will become a minor part of the overall building maintenance expense.”
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The ambitious project (pictured above) led by celebrated architect Jean Nouvel and Patrick Blanc will incorporate 44,000 plants over 23 vertical panels (or 1,100 square metres) and seven linear kilometres of planter boxes containing an additional 150,000 plants.
The gardens are fed by an external hydroponic watering system using water collected from the site.
Pahor is convinced that “organic architecture is global and growing”, but other developers are less willing to meet the start-up and ongoing expenses.
At Hamton’s Eden development in the riverside Melbourne suburb of Abbottsford, installing permanent vertical and rooftop gardens was considered too costly, but also environmentally unsustainable.
“We worked with landscapers to create a look using creepers and planter boxes that softens the façade and blends in with the natural surrounds, but doesn’t require large amounts of water or energy-intensive lights to keep the plants alive,” Hamton managing director Steve Buxton says.
“This will ensure costs are kept down for residents.”
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A different approach is being taken by CK Designworks, which is designing the Crystal Gardens development in Russell Street (pictured above), in Melbourne’s CBD. The architect has designed the 35-storey building such that it will have a park every six storeys.
“Melbourne consistently rates as one of the world’s most liveable cities, partly due to its expansive parks and gardens, but developers should now look at rooftop gardens and high-rise parks as the next step in the greening of the world’s cities,” CK Designworks partner and project architect Robert Caulfield says.
<img src="/images/stories/skyparkanother.jpg">
Nearby at Melbourne’s Flagstaff Gardens, the planned SkyPark Tower hotel and apartments (pictured above) will include, as the name implies, an activity and fitness park high up on the 32nd floor.
The catch is that this park will be completely covered in synthetic grass and has no plants or vegetation.
Architect Billy Kavellaris, director of Kavellaris Urban Design, says vertical and rooftop gardens are often “good design initiatives”, but are not the only way to produce “good design outcomes”, particularly when it comes to engaging people in open spaces.
“They have become fashionable, but I am concerned they are often added on to justify the lack of other sustainability measures within the overall building or design,” he says.
“The SkyPark offers a critique on this discussion and is a good way to generate debate in the industry.”
<img style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;" src="/images/stories/skypark.jpg">
SkyPark Tower includes a half basketball court, gym, barbecue area and a climbing wall (pictured above), which unlike Johnson’s preferred rock face, will be completely devoid of plants and grasses.
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Up in the air - it's a bird, it's a plane, it's a garden, as residential development goes green

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51 Comorant Parade, Pakenham, Victoria, 3810
With lake frontage, this five-bedroom, three-bathroom house has luxurious fittings and finishes. It has a huge family room and separate retreat, a modern kitchen and a beautiful "outdoor room" with a spa and entertainment area. The house is within walking distance of shops and cafes, and it has a double garage with internal access. The house is being sold by <a href="https://www.century21.com.au/c21/propertySearch/brochure.cfm?grplstno=VIC60406581&amp;listing=residential&amp;buyrent=buy&amp;sbrb=PAKENHAM&amp;State=ViC&amp;pcde=3810" title="Century 21" target="_blank">Century 21</a> agent Craig Currie, with expectations of $650,000 plus.
 
 
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Lakeside luxury in Pakenham

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13 Shellbank Avenue, Mosman, NSW, 2088
Yachties will be in heaven in this four-bedroom, five-bathroom waterfront residence with its own jetty, boat shed, pontoon and mooring shed. The contemporary, light-filled house has an infinity pool and large outdoor entertainment area, and those who don't want to climb the stairs to the third level will be glad to learn there is a lift. All four double bedrooms have ensuites and walk-in wardrobes, and the house also features a home study. It is being sold by <a href="https://www.propertyobserver.com.au/https://www.rwm.com.au/136041" title="Richardson and Wrench" target="_blank">Richardson and Wrench</a> agents Richard Simeon and Mark Manners, with price expectations of $13 million plus.
 
 
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Waterfront indulgence in Mosman

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166 Preston Point Road, East Freemantle, WA, 6158
Over three levels, this riverfront East Freemantle house has 556 square metres of living space and stylish features and fittings. The four-bedroom, three-bathroom house has a triple garage, large games/billiard room and sweeping views up the Swan River. The house has a workshop, storeroom and storage room, and a lift services the upper floors. It is being sold by<a target="_blank" title="LJ Hooker Freemantle" href="https://www.ljhooker.com.au/B6SH35"> LJ Hooker Freemantle </a>agent Andrew Johns with expectations of $2.69 million plus. 
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River views with style to spare

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."

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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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