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ANZ are predicting the Reserve Bank (RBA) will cut interest rates at their meeting tomorrow to 2.0%.
"Although data released since the April meeting have been quite solid, we expect that the Board will consider all the data released since the Bank last updated its forecasts in the February Statement on Monetary Policy (SoMP)," ANZ's Australia Market Focus report read.
"In our view, taking all the data together suggests that the Bank is likely to downgrade its forecast trajectory for growth."
<img src="/images/2015/05/04/anz%20may%204%20one.png" alt="">
Source: ANZ Research
ANZ said that the RBA will primarily be influenced by the disappointing CAPEX report that was released in late February.
"The April minutes highlighted the risk that mining investment could be even lower than currently expected given lower commodity prices as well as the likelihood of lower resource export volumes, said the report.
"Post Tuesday, the question for markets will be: are there further cuts on the way?
"We expect that the RBA will maintain its easing bias to at least keep pressure on the currency.
"With the market now pricing a terminal cash rate of 1.8%, if the RBA does reduce the cash rate to 2% next Tuesday, we see potential for the market to move to price at least one full further 25bp cut."
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ANZ predicts rate cut at RBA meeting

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Changes to government grants are leading to first home buyers increasingly targeting new houses, research from QBE reveals.
The amount of first home buyers intending to buy a newly constructed home rose in February 2015 from June 2014 (from 44% to 50%), while the amount intending to purchase an existing house fell (from 60% to 56%), according to QBE’s Barometer Report 2015.
However, the proportion of first home buyers who ended up purchasing a newly constructed house increased to 28% from 18%, while existing home purchases fell from 56% to 41%.
<img src="/images/2015/04/28/trends-april-28-one.jpg" alt="">
The report posited changes to first home owner grants (FHOG) requirements were likely to be an influential factor. NSW, the NT and Queensland have all reported declines in loans to first home buyers, which QBE claims is linked to the loss of incentives to purchase existing homes in these states.
The report also noted that low interest rates “may have encouraged the idea first home buyers have increased borrowing capacity and can afford a new property”.
<img src="/images/2015/04/28/trends-april-28-two.jpg" alt="">
 
The survey covered 701 people intending to buy in the next five years, including 176 first home buyers, as well as an extra 656 mortgagors, of which 95 were first home buyers.
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Changes to FHOGs pushing buyers towards new houses: QBE

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CoreLogic RP Data have released a list of the most affordable capital city suburbs in Australia.
Unsurprisingly, given their respective placings at the bottom of capital city home values, Hobart and Adelaide suburbs make up the entire top 10 list.
Suburbs on the eastern shore of the Derwent River were the most affordable in Hobart, while Adelaide's northern Playford region hosts the city's cheapest suburbs for houses.
Top 10 most affordable capital city suburbs for houses
<ol>
<li>
<a href="/news">Gagebrook</a>, Brighton, Greater Hobart, TAS Median Value: $136,649 
</li>
<li>
<a href="/news">Herdsmans Cove</a>, Brighton, Greater Hobart, TAS Median Value: $139,664 
</li>
<li>
<a href="/news">Clarendon Vale</a>, Clarence, Greater Hobart, TAS Median Value: $158,883 
</li>
<li>
<a href="/news">Bridgewater</a>, Brighton, Greater Hobart, TAS Median Value: $169,691 
</li>
<li>
<a href="/news">Risdon Vale</a>, Clarence, Greater Hobart, TAS Median Value: $173,468 
</li>
<li>
<a href="/news">Elizabeth North</a>, Playford, Adelaide, SA Median Value: $174,191 
</li>
<li>
<a href="/news">Davoren Park</a>, Playford, Adelaide, SA Median Value: $178,657 
</li>
<li>
<a href="/news">Smithfield Plains</a>, Playford, Adelaide, SA Median Value: $184,904 
</li>
<li>
<a href="/news">Elizabeth Downs</a>, Playford, Adelaide, SA Median Value: $193,780 
</li>
<li>
<a href="/news">Elizabeth South</a>, Playford, Adelaide, SA Median Value: $196,362
</li>
</ol>
Source: CoreLogic RP Data
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No surprise: Australia's cheapest capital city suburbs

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Foreign investors were behind 32% of Australian office property purchases in the 12 months to December 2014, according to a new report.
<img src="/images/2015/02/11/chart-feb-11-one.png" alt="">
Savills' World Office Yield Spectrum report detailed who was behind Australian office property purchases in 2014.
The report also noted the return of institutional investors to the market.
"Having been sidelined for several years due to issues surrounding their balance sheet and their units trading at a discount to NTA, the A-REITS are back and buying again," the report stated.
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Foreign investors behind a third of 2014 Australian office purchases: Savills

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JLL have released a new report containing their outlook for Brisbane's near city market for the next 12 months in a chart (see below).
2014 was a challenging year for the Brisbane near city office market after a wave of subleasing flooded the market, according to JLL.
Due to further possible mining contractions, demand is likely to be subdued, the report states.
The most substantial addition will be Lend Lease's Kings Gate development, which currently has 40% commitment for its total 16,300 square metres of office space.
 <img src="/images/2015/02/04/jll-feb-4-two.jpg" alt="">
Source: JLL
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Brisbane's near city office market outlook for 2015: JLL

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"All these computers and digital gadgets are no good. They just fill your head with numbers and that can't be good for you," said the artist formerly and once again known as Prince.<a href="https://www.brainyquote.com/quotes/authors/p/prince" title="view author" style="line-height: 1.3em;"> </a>
And while the 'Purple One' sure knows how to play funky guitar, his estimation of numerical knowledge by digital distribution is questionable.
Here are but a few of the numbers rumbling through property investor zeitgeist this week.
<ul>
<li>28%</li>
</ul>
<a href="/news/qld/miles-queensland-the-limping-surat-basin-hotspot"><img src="/images/2014/11/13/miles-nov-13-breakout.jpg" alt="Miles, Queensland: The limping Surat Basin hotspot"></a>
Photo of Miles main street courtesy of <a href="https://commons.wikimedia.org/wiki/User:Mattinbgn" title="User:Mattinbgn">Mattinbgn</a>/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
Miles, in the Surat Basin Western Downs area of Queensland, is the state's highest yielding suburb, according to RP Data.
But does the <a href="/news/qld/miles-queensland-the-limping-surat-basin-hotspot">11.17% yield figure really stack up?</a>
Over the past year, Miles' median price movement has dropped 8.16%. But that's not the scary figure for anyone considering investing in the regional mining town.
Miles has a vacancy rate of 28%, according to SQM Research. Enough to deter any investor thinking it could represent a sure-fire cash flow hit.
 
<ul>
<li>$450 million</li>
</ul>
<a href="/expert-insights/investing/sydney-hilton-for-sale-with-price-expectations-in-excess-of-450-million"><img src="/images/2014/11/12/hilton-nov-12-breakout.jpg" alt="Sydney Hilton for sale with price expectations in excess of $450 million"></a>
The newly refurbished <a href="/expert-insights/investing/sydney-hilton-for-sale-with-price-expectations-in-excess-of-450-million">Sydney Hilton Hotel is set to hit the market</a>. With offshore investors circling, price expectations for the 579-room hotel are well over $450 million.
<a href="/expert-insights/investing/sydney-hilton-for-sale-with-price-expectations-in-excess-of-450-million"> </a>
<ul>
<li>10.35%</li>
</ul>
<a href="/news/qld/can-you-really-get-a-double-digit-rental-return-in-queenslands-mount-morgan"><img src="/images/2014/11/12/mouhnt-morgan-nov-12-breakout.jpg" alt="Can you really get a double-digit rental return in Queensland's Mount Morgan?"></a>
With a yield of 10.35%, according to RP Data, Queensland's Mount Morgan appears to offer be an attractive target for investors. 
But is this yield really achievable? 
Property Observer crunched the numbers and found that in this small town, <a href="https://propertyobserver.com.au/finding/location/qld/37719-can-you-really-get-a-double-digit-rental-return-in-queensland-s-mount-morgan" target="_blank">not everything is quite as it appears...</a>
 
<ul>
<li>14%</li>
</ul>
<a href="/expert-insights/add-14-to-sydney-spring-auction-price-guidance-intelligent-property-services"><img src="/images/3_StockBreakouts/housing-always-up-july-4.jpg" alt="Add 14% to Sydney spring auction price guidance: Intelligent Property Services"></a>
Like the strange smell at the back of my fridge, the issue of underquoting just doesn't seem to go away.
Intelligent Property Services' Ramon Mitchell browsed a selection of Sydney auction results throughout the month of October to find that the selling price is, on average, <a href="/expert-insights/add-14-to-sydney-spring-auction-price-guidance-intelligent-property-services">14% higher than the initial price guidance</a>.
One Newtown property sold for nearly a quarter more than its guidance, while a Homebush house fetched $950,000 more than its guide.
 
<ul>
<li>17</li>
</ul>
<a href="/news/firb-issued-just-17-divestment-orders-to-foreign-buyers-over-past-decade"><img src="/images/3_StockBreakouts/china-keys1-breakout-new.jpg" alt="FIRB issued just 17 divestment orders to foreign buyers over past decade"></a>
According to evidence presented to The House of Representatives economics committee’s inquiry into foreign investment in residential real estate, since 2003, the Foriegn Investment Review Board has issued <a href="/news/firb-issued-just-17-divestment-orders-to-foreign-buyers-over-past-decade">just 17 divestment orders to foreign buyers</a>.
In this time period they have also failed to prosecute a single matter for illegally acquiring property in Australia.
The inquiry heard evidence that the current laws are routinely flouted, with foreigners happy to take the risk of not being caught.
 
<ul>
<li>$136 million</li>
</ul>
<h3><a href="/expert-insights/investing/victorian-politicians-136-million-of-property-what-hope-is-there-of-housing-policy-reform"><img src="/images/2014/11/10/melbourne-aerial-nov-10-breakout.jpg" alt="Victorian politicians' $136 million of property: What hope is there of housing policy reform?"></a></h3>
In the leadup to the Victorian state election there are few issues that unite the jostling parties. But it appears property investment may be one of them.
With Victoria's pollies owning an <a href="https://propertyobserver.us2.list-manage1.com/track/click?u=24bd0766a834290948593f5aa&amp;id=a919f349b0&amp;e=035e81ff9a" target="_blank">estimated $136 million of property between them</a>, three academics asked the question: What hope does Victoria have of meaningful housing policy reform?
 
<ul>
<li>64,000</li>
</ul>
<h3 class="timeline-header"><a href="/news/vic/over-64-000-melbourne-properties-sit-vacant-prosper-australia"><img src="/images/2014/11/13/docklands-nov-13-breakout.jpg" alt="Over 64,000 Melbourne properties sit vacant: Propser Australia"></a></h3>
According to a new report from Prosper Australia, authored by Property Observer's regular columnist Catherine Cashmore,<a href="/news/vic/over-64-000-melbourne-properties-sit-vacant-prosper-australia"> there are over 64,000 vacant properties throughout Melbourne</a>.
According to the report, the Docklands area has the highest proportion of properties that are likely to be vacant based on water consumption.
 
<ul>
<li>$1 million plus</li>
</ul>
<a href="/news/nsw/sydney-s-median-asking-price-tips-over-1-million-mark-sqm-research"><img src="/images/3_StockBreakouts/sydney-aeiral-sept-10-breakout.jpg" alt="Sydney’s median asking price tips over $1 million mark: SQM Research"></a>
Earlier this week, <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=7b7e17db65&amp;e=035e81ff9a" target="_blank">Sydney’s median asking price tipped over the $1 million mark</a>, according to SQM Research.
The research house said that it is impossible to purchase a freestanding house in Sydney’s inner ring for less than seven figures.
 
<ul>
<li>$25,000</li>
</ul>
<a href="/news/wa/busselton-the-market-leader-in-regional-western-australia"><img src="/images/2014/11/11/busselton-nov-11-breakout.jpg" alt="Busselton the market leader in regional Western Australia"></a>
Picture courtesy of  <a href="https://commons.wikimedia.org/wiki/User:Gobeirne" target="_blank" title="User:Gobeirne">Greg O'Beirne</a>/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>.
<a href="/news/wa/busselton-the-market-leader-in-regional-western-australia">Busselton was Western Australia's top performing regional market</a> over the past 12 months, according to REIWA.
Over this time period, 500 house sales lifted the area's median house price $25,000 to $450,000.
Earlier this week, Terry Ryder explained why he had tipped the town to take off in 2014 and which of the western state's markets to approach more cautiously. 
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The top property investment numbers of the week

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A view of the Harbour Bridge is a valuable commodity. Its worth has been confirmed in the latest set of data revealing Australia's top 10 most expensive suburbs for units.
Dawes Point, situated in the westerly shadow of the coathanger, has taken top place on RP Data's list of suburbs for unit median prices.
Clocking in with a median of $2,415,280, more than half a million more than its closest competitor Point Piper, the residents of Dawes Point can no doubt justify the substantial outlay with the grandest of elevated views of the famous landmark.
It’s no surprise the list is dominated by Sydney's prestige harbourside suburbs, with only Tennyson, Queensland managing to crack the monopoly.
Tennyson, located 7 kilometres along the Brisbane River from the CDB, has a median unit price of $1,024,147.
The prestige Sydney apartment market is seeing some heat at the moment. Just last week the <a href="/expert-insights/buying/manar-potts-point-apartment-sets-new-record-price">Potts Point apartment Manar</a> (pictured below) was the most expensive sale, according to RP Data, fetching $3.75 million pre-auction.
<img src="/images/2014/10/21/pots%20point_0003_image4.jpg.jpg" alt="Manar, Potts Point apartment sets new record price">
Earlier this year, Property Observer's contrarian commentators Jonathan Chancellor and Margie Blok rounded up <a href="/news/its-still-crowded-atop-sydneys-penthouse-market-offerings">the top penthouse apartments gracing the market at the time</a>.
Chief among them was the trophy penthouse listing at 1 Macquarie Street (pictured below), overlooking Circular Quay.
<img src="/images/2014/03/21/sydney%20march%2021%20one.jpg">
AUSTRALIA'S TOP 10 MOST EXPENSIVE SUBURBS FOR UNIT MEDIAN PRICE:
<ol>
<li>
<a href="/news">Dawes Point</a>, NSW - $2,415,280 
</li>
<li>
<a href="/news">Point Piper</a>, NSW - $1,895,370
</li>
<li>
<a href="/news">Darling Point</a>, NSW - $1,421,921
</li>
<li>
<a href="/news">Millers Point,</a> NSW - $1,226,920
</li>
<li>
<a href="/news">Cabarita</a>, NSW - $1,191,102
</li>
<li>
<a href="/news">Milsons Point</a>, NSW - $1,128,607
</li>
<li>
<a href="/news">The Rocks</a>, NSW - $1,079,725
</li>
<li>
<a href="/news">Cremorne Point</a>, NSW - $1,029,538
</li>
<li>
<a href="/news">Tennyson</a>, QLD - $1,024,147
</li>
<li>
<a href="/news">Huntleys Cove</a>, NSW - $1,013,153
</li>
</ol>
Source: RP Data (click on the suburb name to view more suburb data).
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Australia’s 10 most expensive unit suburbs

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The new project from Salta Properties, Essence, in South Yarra will be launched to the public this weekend.
The site at 35 Wilson Street, South Yarra is located close to the famous Chapel Street retail strip. It will include a public thoroughfare parallel to the private lobby that will connect Wilson Street and Garden Lane.
<img src="/images/2014/09/04/south-yarra-sept-4-one.jpg" alt="">
Designed by <a href="https://www.rothelowman.com.au/" target="_blank">Rothelowman</a>, the development will contain a total 92 one and two bedroom apartments across eight floors. Prices start from $379,000, with construction set to begin later this year.
Sam Tarascio, managing director of Salta Properties, said that the company was focussed on providing a sustainable contribution to the area which captured the style of the area.
<img src="/images/2014/09/04/south-yarra-sept-4-two.jpg" alt="">
“As developers, it is important to create urban buildings that can strengthen and enrich people’s lives. Essence is a timeless and unique addition to the neighbourhood,” said Tarascio.
Speaking at a launch gala last night, Tarascio said that design features, such as moving the study into the bedroom and a floating kitchen bench, were designed to maximise space inside the units, while other building utilities will be hidden inside the walls.
<img src="/images/2014/09/04/south-yarra-sept-4-three.jpg" alt="">
<a href="https://www.essencesouthyarra.com.au/" target="_blank">Essence</a> will also include a rooftop terrace for communal entertaining and vertical gardens.
The display suite on Chapel Street (pictured in the gallery above) will be open to the public from Saturday.
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Salta Properties' Essence, South Yarra to be launched this weekend

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It’s fair to say that the name Baz Luhrmann is not exactly synonymous with restraint.
The Australian director best known for pulling off meticulous and extravagant displays of debauchery in films such as The Great Gatsby, Moulin Rouge and Romeo + Juliet, brought his trademark touch to the grand opening of Melbourne’s Emporium shopping centre last night.
The $1.2 billion centre in the shell of the former Lonsdale Street Myer building was looking suitably glamourous for the event's 1,500 attendees.
The opening came at a great time for the centre’s owners, CFS Retail Property Group, who just announced a $400 million net profit for the 2014 financial year.
International retailers Top Shop and Uniqlo are among the tenants who have been welcoming customers for a few months preceding the launch. Though a few of centre's tenants are still waiting to open, the 225 retail spaces at Emporium are fully leased.
Luhrmann's vision for the opening was a "reimagined" Melbourne. While the opening event's giant tennis ball, beneath a cavorting acrobat, was a nod to the Australian Open, and a pink and purple horse sculpture a tip of the fascinator towards the spring racing carnival, other features of the launch had more tenuous links to the city.
<img src="/images/2014/08/21/26.jpeg" alt="">
Choreographed dancers wearing soldier and nurse costumes? A stretch.
<img src="/images/2014/08/21/3.jpeg" alt="">
A slick band seemingly swimming amongst a sea of gladioli? Not so sure…
<img src="/images/2014/08/21/2.jpeg" alt="">
Roller skating waiters eager to top up your glass of champers? I’ll roll with it.
The efforts certainly impressed attendees, including swimmer Michael Klim, singer Natalie Bassingthwaite and pyjama designer Peter Alexander. Property Observer also noted the attendance of The Block Glasshouse’s Darren and Dee.
However, Luhrmann was undoubtedly the star of the show. On a tour of the party, the director was mobbed by attendees, who had no doubt forgotten the nearly three hour ordeal that was Australia.
<img src="/images/2014/08/21/10625049_10152411629248640_3586282144434533793_n.jpg" alt="">
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Baz Luhrmann opens Melbourne's Emporium in a riotous glitzy affair

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Super Retail Group, owner of brands including Rebel Sport and Supercheap Auto, has reported a 5.6% jump in profits for 2014.
The retail group’s net profit after tax rose to $108.4 million, while revenue lifted by 4.6% to $2.11 billion.
Super Retail Group managing director and chief executive Peter Birtles said in a statement the result, while in-line with forecasts, reflected mixed performance across the group.
Birtles said the auto retailing division was an outstanding performer with around 10% growth, but the company’s leisure and sports retailing arms had lagged.
“In the leisure retailing division, the BCF business was impacted by a slowdown in sales in stores that had previously benefited from investment in the mining industry,” said Birtles.
“The sports retailing division had a solid start to the year but performance was impacted by inventory supply challenges resulting from the implementation of new merchandise and supply management systems in October and from a slowdown in customer demand following the federal budget and a warmer start to winter.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Super Retail Group reports 5.6% jump in profits

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

Joel Robinson

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>.

[smartcode_project_cta:default project_id=151449]

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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La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

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The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

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<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

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Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

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Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Jacob Robinson

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