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Luxury apartments and townhouses in Canberra’s waterfront Bridge Point development are being snapped up quickly, with 28 of the 35 dwellings sold off the plan less than two months after they came on the market in late April 2011.
The Kingston development, which is being marketed by Colliers International, comprises seven two-storey townhouses, three whole-floor penthouses and 35 one-, two- and three-bedroom apartments, all with views over Lake Burley Griffith. One-bedroom apartments start at $525,000, and the larger dwellings are all over the $1 million mark.
“Bridge Point is arguably the most prestigious residential address in Canberra and buyers will live on Canberra’s only residential island with private uninterrupted views that will never be built out,” says Colliers International director of residential project marketing Derek Whitcombe.
Colliers says that 98% of buyers are native Canberrans.
Although the ACT Government earmarked the site for 107 units, developer Doma Group decided on a more exclusive project. The building was designed by Colin Stewart Architects, which is also redeveloping the Kingston foreshore. When completed, the foreshore will include a boat harbour and jetty, boardwalk, restaurants and public spaces.
“Whilst there are many luxury apartments for sale in Canberra, there really is no development quite like Bridge Point,” Whitcombe says.
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cknowlton-QnEa6ntUYP

Luxury apartments in Canberra snapped up off the plan

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24 Park Street, South Yarra, Victoria, 3141
If you are looking for a large family home close to the city, parks, schools, shops and dining, then this ticks the boxes. Front formal rooms are a good size. As expected, this doesn't offer the "typical" family layout (e.g. open-plan kitchen and family room overlooking back yard), however, it does provide multiple living areas, a kitchen hub with easy access to the private courtyard, five bedrooms and secure off=street parking. The main bedroom is weak and could be seen as a cut through upstairs from the front of the house to the back. Terraces typically have multiple stairs and this is no exception, with two staircases and landings. However, for larger families this home provides the accommodation in a desired location where large family homes are often hard to find. James Buyer Advocates gives the property a rating of 731/1000, which puts it in the Well Above Average Category. It was sold by <a target="_blank" title="Marshall White" href="https://www.marshallwhite.com.au/?pagecall=property&amp;propertyID=1667175" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Marshall White</a> agents Andrew Hayne and Peter Bennison at auction on Saturday, June 18 at 11.30am for $4.85 million, above expectations of $4.5 million plus. There were two bidders.
 
Kristen Hatt is principal buyer advocate at <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://www.jamesbuyeradvocates.com.au/" target="_self" title="James Buyer Advocates">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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Impressive Victorian fetches the weekend's highest price

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Looking for an auction to attend at the weekend? Property Observer has found four properties going to auction this weekend that would be perfect for investors. 
 
<h2>New South Wales</h2>
<img src="/images/stories/sydneyjune17.jpg">
Unit 67F, 5-29 Wandella Road, Miranda, NSW, 2228
This well-located property with views of the city and bay has polished floorboards, a CaesarStone kitchen and an internal laundry room. The three-bedroom, two-bathroom property has a tenant with an expired lease, who would like to remain in the property. The tenant currently pays $475 per week. The property is being sold by <a target="_blank" title="Highland Property Agents Cronulla" href="https://www.highlandproperty.com.au/buying/NSW/Sutherland/MIRANDA/Apartment/1P2522">Highland Property Agents Cronulla </a>agent Lucas Harwood with an asking price of $449,000. It goes to auction on Saturday, June 18 at 10.30am. 
 
<hr class="system-pagebreak">
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">South Australia</h2>
<img src="/images/stories/southaustraliajune17.jpg">
9/18 Bewes Street, Adelaide, 5000
Currently tenanted at $400 per week to a professional couple who would like to extend their lease, this apartment in the heart of Adelaide offers reverse-cycle air-conditioning, a car park and a balcony. The two-bedroom apartment is listed for sale by <a target="_blank" title="Phillis Real Estate" href="https://www.propertyobserver.com.au/https://www.phillisrealestate.com.au/property/details/403906994">Phillis Real Estate'</a>s Andrew Downing with an asking price of $350,000 plus. The property goes to auction at 11.45am on Saturday, June 18.
<h2>
<hr class="system-pagebreak">
Victoria</h2>
<img src="/images/stories/victoriajune17.jpg">
1/ 15 Petrie Street, Frankston
Only 500 metres from Frankston train station, this recently refurbished apartment in a boutique development has a tenant with a long-term lease paying $295 per week. The two-bedroom, one-bathroom unit has polished timber floorboards, a double carport and an undercover entertainment area. <a target="_blank" title="Bayside Real Estate" href="https://www.baysidere.com.au/properties/view/363/15-Petrie-St/Frankston/Vic/Australia/">Bayside Real Estate</a> agent Darren Dowel is selling the property, which has an asking price of $290,000 plus. It is being auctioned on Saturday, June 18 at 10 am.
<h2>
<hr class="system-pagebreak">
Australian Capital Territory</h2>
<img src="/images/stories/actjune17.jpg">
2/1 McGee Place, Pearce, 2607
In a quiet block in the heart of Pearce, this two-bedroom unit is only a few hundred metres from shops in Pearce. The tenant in the property currently pays $330 per week and has a long-term lease, making the property a good purchase for an investor. <a target="_blank" title="Ray White Woden" href="https://www.raywhite.com/act/pearce/613431/">Ray White Woden</a> agent Scott Crossman is listing the property with an asking price of $295,000 plus. It goes to auction at 10.30am on Saturday, June 18.
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Friday Form Guide: This weekend's investment prospects

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{yoogallery src=[images/stories/june16estencia]}
Estancia Punta del Agua, a 400,318-hectare piece of land north west of San Juan, in Argentina, is on the market. The massive piece of agricultural land is in one of Argentina's most prolific wine regions, and it is believed that the Argentinian Government would support a move to bring the entirety of the holding into full agricultural production.
The land, which is being marketed by Savills and joint agents Gateway to South America, is 3.5 times the size of Hong Kong and 1.5 times the size of the US state of Rhode Island. It is being marketed to international investors.
“This is probably the largest ring-fenced freehold block of land to be offered for sale in the open market ever," says Ken Jones, head of international farmland for Savills. 
“Given the current interest in farmland from international investors, we expect the Estancia to appeal to a number of potential purchasers. With soil reports showing vast areas of silt soils, and the potential of tapping into one of the largest aquifers in Argentina, the Estancia needs an investor who understands agriculture and has the capital to invest after the purchase in a scheme of works to bring the land into line with 21st-entury farming techniques."
About 400 people farmed the land of the Estancia using rudimentary irrigation in the mid-20th century, but a lack of infrastructure in the area meant they could not compete with other large landholdings at the time. However, an upgraded rail and road network, combined with a more reliable electricity grid and modern irrigation technology, make it likely that the property can become a viable commercial agricultural business. 
The current owners have had the property since 1983.
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Land three times the size of Hong Kong comes on market

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It’s tax time again, when you need to go through the process of working out your taxable income and calculating your tax bill or a tax refund cheque you’re likely to receive. Here are some handy end-of-financial-year tips on maximising your tax benefits, and tax traps to avoid if you own an investment property.
At the outset it is best that you credit all rental income you receive to your personal cheque account, and all rental expenses should be paid by cheque. This will help you keep track of your income and expenses and quickly prepare your annual tax return. With respect to investment properties, keep all your rental statements, invoices and receipts to substantiate your rental income and tax deductions.
 Rental income
Rent is liable to tax when it’s paid or credited to your account. If you lease a property make sure you charge a commercial rate of rent. Otherwise the Tax Office could reduce or disallow all your rental deductions.
 What’s tax deductible?
Under Australian tax law you can claim as a tax deduction expenses you incur in deriving your rental income. This means there must be a relevant connection between the rent you receive and your rental deductions. The following types of expenses you’re likely to incur normally have that relevant connection.
<ul>
<li>Advertising costs to find a suitable tenant</li>
<li>Agent’s commission to collect the rent on your behalf</li>
<li>Capital works deductions (or building write-off deductions)</li>
<li>Depreciation of approved items that you can write off</li>
<li>Insurance on buildings that you lease</li>
<li>Interest on borrowings to purchase an investment property</li>
<li>Rates and land taxes</li>
<li>Repairs to your investment property</li>
<li>Security costs</li>
<li>Travel costs to inspect your investment property</li>
<li>Water and sewerage charges</li>
</ul>
 Common tax traps to avoid
Australia’s tax system operates on a self-assessment basis, and the Australian Taxation Office will ordinarily accept what you disclose in your tax return as true and correct. However, the Tax Office conducts routine tax audits and data-matching programs to keep you honest and to check that you’re not cooking the books. So it’s important that you comply with <country-region><place>Australia</place></country-region>’s complex tax laws. Stiff financial and criminal penalties may apply if you get it wrong or deliberately cheat the system (Not guilty, Your Honour!). The common mistakes associated with investment properties are listed here:
 Rental income
<ul>
<li>Not declaring all the rental income you receive, and more particularly not declaring rental income on holiday homes you lease during the financial year</li>
</ul>
Tax deductions
<ul>
<li>Overstating your rental expenses and claiming tax deductions for investment properties that are not genuinely available for rent</li>
<li>Claiming a tax deduction for expenses relating to the private use of a property such as a holiday home and your main residence</li>
<li>Incorrectly depreciating items that are not tax deductible</li>
<li>Incorrectly claiming borrowing costs. These expenses are deductible over the period of the loan or five years</li>
<li>Incorrectly claiming interest deductions in respect to loans that are partly investment-related and partly private. For example, you might lease a shop and reside at the back of the premises.</li>
<li>Incorrectly claiming travel expenses to inspect an investment property when the trip is also partly for private purposes. For example, if you reside in Hobart and you own an investment property in sunny Queensland, you might inspect it just when your footy team happens to be playing there.</li>
<li>Incorrectly claiming capital work deductions that exceed the construction expenditure</li>
<li>Claiming initial repairs as repairs and maintenance costs rather than including these costs as part of the property’s cost base. Initial repairs are repairs you make to a newly acquired investment property (for example, if you paint a property you recently purchased before leasing it)</li>
</ul>
Capital gains tax
<ul>
<li>Not declaring capital gains you make on sale of investment properties, holiday homes and vacant land you own</li>
<li>Incorrectly calculating the amount of capital gain or capital loss you make on sale</li>
<li>Incorrectly claiming a main residence exemption that’s not your fair dinkum place of residence</li>
</ul>
 Tax Office publications
To help you comply with Australia’s tax laws, the Tax Office has published numerous fact sheets and booklets, and they’re all free of charge (who said you can’t get blood from a stone?).
<ul>
<li>Deductions for prepaid expenses (NAT 4170)</li>
<li>Guide to depreciating assets (NAT 1996)</li>
<li>Personal investor’s guide to capital gains tax (NAT 4152)</li>
<li>Rental properties (NAT 1729)</li>
<li>Rental properties – avoiding common mistakes</li>
<li>Rental expenses – claiming capital works deductions (NAT 72840)</li>
<li>Rental properties – claiming legal expenses (NAT 71956)</li>
<li>Rental properties– claiming repairs and maintenance (NAT 72841)</li>
<li>Rental property deductions – know what you can claim 
<ul>
<li>Tax pack for individuals</li>
<li>Tax Pack Supplement for individuals with investments</li>
</ul>
</li>
</ul>
 Jimmy B Prince is a tax specialist and author of <a title="Tax for Australians for Dummies and Property&amp;Taxation" href="https://au.wiley.com/WileyCDA/WileyTitle/productCd-0730375528" target="_blank">Tax for Australians for Dummies and Property &amp; Taxation</a> (Wily Publishing Australia Pty Ltd)
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Landlords should take care not to get caught out by the taxman

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{yoogallery src=[images/stories/June14sherrington]}
26 Sherrington Road, Port Douglas, 4877
On 2.175 hectares, this property is fully fenced into generously sized horse paddocks. The six-bay stables is complete with a tack bay and built-in saddle racks. The property is ringed by crown land, and the beach is a short ride away. The house itself is a beautiful tropical home, with four bedrooms, three bathrooms and timber floors. Owner<a target="_blank" title="Email Alexander Duff" href="mailto:on%20a.duff@yahoo.co.uk"> Alexander Duff </a> is selling the property himself, with an asking price of $1.25 million. 
 
 
{module 238}
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Horsing around

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{yoogallery src=[images/stories/June14normanby]}
6 Normanby Avenue, Caulfield North, Victoria, 3161
Global Reviews CEO Greg Muller and his wife, Jacquelyn, are selling their Caulfield North home with an asking price of $1.5 million plus. The house has period charm and modern elegance, comprising three bedrooms and two bathrooms. <a target="_blank" title="Marshall White" href="https://www.marshallwhite.com.au/?pagecall=property&amp;propertyID=1670130">Marshall White</a> agents Justin Krongold and John Manton are selling the property, which will go to auction on June 25. The house, which is full of natural light, has high ceilings and a landcaped garden.
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Period charm in North Caulfield

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CB Richard Ellis has appointed Ashley Kerfoot as an associate director of the company’s Structured Transactions &amp; Advisory Service in Western Australia.
The Perth-based team at St Georges Terrace advises institutions, government bodies and companies about landmark projects in all states and territories.
“Ashley’s appointment is an exciting move that will enable us to expand our already strong position in Western Australia,” CBRE senior managing director Peter Agostino says.
Kerfoot’s previous role was at the WA Department of Housing, where he worked in capital management.
Kerfoot began his new role on June 1, 2011.
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CBRE appoints associate director of Strategic Transactions & Advisory Service team

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{yoogallery src=[images/stories/istana]}
The Istana, Bukit, Bali, Indonesia
The Istana private villa in Bali was designed by Australian-based French architect Fredo Taffin as a tranquil piece of tropical grandeur. The 5,200-metre estate has two infinity-edge pools and ocean views from all angles. The villa's team features a Western chef, four butlers, two drivers, two masseuse and spa staff, housekeeping and maintenance people and a round-the-clock security team.
“The Istana was Bali's first destination villa and was designed to offer world-class amenities and the highest level of service. Architecturally speaking the low elevation keeps the building 'down to earth' with proportions that are discreet and elegant, rather than intimidating,” Taffin says.
In 2007 architect Gary Fell renovated and upgraded the 2002 villa to give it a more contemporary edge.
"Throughout the villa, contemporary furniture finished with high-gloss lacquer and custom-made silk wall panels play against the more rustic teak floors. Modern ceiling treatments channel light into the volumes created by the open, traditional roof structure," Fell says.
The Istana, which is a Malay word for palace, has been operated as both a private villa and a commercial resort. It is being sold by <a href="https://www.TheIstana.com" title="The Istana" target="_blank">Elite Havens</a>' <a href="mailto:matthew@elitehavens.com" title="Email Matthew Georgeson" target="_blank">Matthew Georgeson </a> with an asking price of around $7 million.
 
{module 238}
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Bali high

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{yoogallery src=[images/stories/June9kawana]}
7 Santorini Court, Parrearra, Queenland, 4575
A stunning architectural design makes this three-bedroom, three-bathroom Queensland masterpiece special. The waterfront property has a uniquely designed 19-metre swimming pool and views overlooking a private pontoon and an open waterway. <a target="_blank" title="Century 21" href="https://www.century21.com.au/maroochydore/">Century 21 on Duporth</a> agent Damien Said is listing the property with a price of $1.285 million plus. All three bedrooms have ensuites, and the main bedroom overlooks the pool and beyond to the canal. A timber deck allows for appreciation of Queensland's sunny climes.
 
{module 238}
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Kawana Island beauty

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

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

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