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Over 2013, local institutions, syndicates and private investors were the most active across Perth’s market, however this year the tide will turn towards offshore investment, according to Knight Frank.
Knight Frank noted that while Perth’s market will continue to perform well, it will be buyers offshore, specifically in Asia, who will become more aggressive in their purchasing habits.
Local buyers accounted for 87% of 2013’s $1.26 billion of major sales in Perth. This figure may just change dramatically, suggested Knight Frank managing director of Western Australia, John Corbett. 
Investors offshore secured more than $250 million of Perth property in January this year.
However, the lion’s share was $205 million in a single purchase of Harbour Town by Singaporean company Far East Group. He said there were some significant purchases from Malaysian, Singaporean and US investors outside of this also.
“The decrease in the value of the Australian dollar started to draw foreign attention back to Australia in the latter part of 2013, but it will really begin to gain momentum in 2014,” Corbett said.
“In addition to the favourable dollar, yields in Australia are mostly 8% plus, whereas in Asia they are below 3%,” he said.
He said that the strong economy is making the area attractive to offshore buyers. This was recently emphasized by CBRE in a research analysis that found Australia is the second most attractive country for cross-border investment, after China.
CBRE’s Asia Pacific Investor Intentions Survey 2014 showed that a significant majority, 64%, expected to commit more capital to the Asia Pacific real estate market this year than last.
There are, however, some concerns around investing this year. An economic slowdown or weakness was cited by 23% as the main concern, the perception of property being overpriced was noted by 21% of respondents and the effects of US tapering and rising interest rates were flagged by 17%.
Managing director, capital markets Asia, CBRE, Greg Penn, said that despite this the outlook remains positive for longer term prospects.
“Investors are not just planning to commit more capital to the region, they are looking to commit substantially more. The attractiveness of Asia Pacific as a region persists as a result of economic growth levels that remain higher than global averages, long-term demand for quality commercial property and rapid urbanization,” said Penn.
Their survey still found that, of the Australian cities, Sydney and Melbourne were ranked highest as the offshore investors’ places to buy.
There may, however, be a slowing in capital inflows as we compete on the global stage.
CBRE senior director, international investments, Michael Andrew, said that investor interest is also broadening past the main CBDs, and into our secondary markets.
“Australia is still witnessing very strong demand for core real estate across all sectors, however we have seen the emergence of an appetite for assets in what has often been seen as secondary “non-core” markets, where investors understand they can still get high quality assets, strong covenants and at better yields than in the CBD's,” Andrews said.
Industrial assets regionally have seen an uptick in popularity in the survey, with the industrial and logistics sector particular highlighted as attractive.
Overall, however, the office sector took out top spot in popularity with 32% of results, followed by industrial and logistics, 29%, and residential, 21%.
This survey has been recorded since 2005, was carried out online between January and February 2014 and included a number of different real estate investors including fund or asset managers, private property companies, REITs, banks, insurers and private equity firms.
However, not every overseas investor is set to do well. Those with some local knowledge are likely to outperform others, said Corbett.
He also said that where development sites were 2013’s focus, now it will be income generating assets.
“Canadian pension fund PSP bought a 33% share in Raine Square and Bankwest Place last year, while US investor Blackstone purchased 8 St Georges Terrace, showing strong trans-Pacific interest in our market,” he said.
“We expect that will be the beginning of increased interest in Australia from US and Canadian markets.”
He pointed to opportunities for offshore investors at primarily securely leased CBD office buildings, shopping centres and selected hospitality assets.
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jduke-EHk3XBmHkn

Offshore investors eyeing Perth commercial market

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Melbourne-based developer GURNER has acquired a 5,000 square metre site in Brisbane’s Fortitude Valley, in the centre of Brunswick Street, Alfred Street and Barry Parade, in their first foray interstate.
The site is to be a $600 million mixed use development landmark, with hopes of rejuvenating the area.
Award-winning architects Elenberg Fraser will take on the project and the site will include a number of towers, totaling more than 730 apartments, a 100 apartment 4.5 star hotel, a 5,000 square metre real estate precinct, 3,000 square meteres of resident-only resort style club and landscaped area, designed by landscape architects 360 who also undertook work at Sydney’s The Ivy.
A U-shaped infinity pool, private bars, BBQ areas, outdoor cinema, sun deck, gym, library and formal dining rooms that residents can book will all be within the site.
The development application was submitted last week for the proposal.
The decision to move into Brisbane was due to the growing interest across the Australian market for the inner-city apartments in the area, something Property Observer has long noted regarding investors. GURNER was searching for a Brisbane site since early last year. 
The new site, in keeping with this philosophy, is 50 metres from the train station and 800 metres to the CBD.
GURNER has purchased three sites in Melbourne in the last three months alone, including 24-28 Stanley Street, Collingwood, 107 Cambridge Street, Collingwood and 74 Eastern Road, South Melbourne. These will be $30 million, $55 million and $45 million respectively, with the latest development to be their most significant.
The development company has been around since 2012, after Tum Gurner’s involvement with Pan Urban and Urban Inc.
Gurner said that these sites represent an opportunity to cater for population growth.
“With the development site market being so hot at the moment it is making acquisitions very difficult for local private companies. We are thrilled to have been able to secure four incredible sites that will offer our clients a very unique home or investment opportunities that are beautifully designed with great local amenity,” he said.
Stage 1 of the mixed use project is expected for launch mid-2014, hanging on Brisbane City Council’s approval of the DA.
“The inner city Brisbane market is very attractive for investors and owner-occupiers, with very low vacancy rates, great affordability and increasing rental yields. Brisbane prices are now around 40% lower than comparable apartments in Sydney and over 20% cheaper than Melbourne, while rents are not far behind. Brisbane has not had the amazing run that Melbourne and Sydney have had over the past 12 to 24 months. But we are very confident that the time has come for the Brisbane market to gain momentum over the next two to five years as investors grow wary of Melbourne and Sydney’s supply and growth rates,” he said.
The sale of the largest part of the site was negotiated by Neville Jensen of Ray White Metro.
The Collongwood Stanley Street development, to be designed by Warren and Mahoney, will bring 50 apartments and retail to the market, with the Cambridge Street development, also designed by the same architects, permitted for 95 apartments and retail outlets. The South Melbourne site is being re-planned, with ideas for 65 apartments and a café, spanning eight levels, and designed by Elenberg Fraser.
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>.
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Melbourne-based GURNER submits DA for $600 million landmark Brisbane creation

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Master Builders have welcomed the new legislation introduced in Parliament this week looking to repeal red tape, applauding it as an important signal of support for an industry dealing with over regulation and associated compliance costs.
CEO of Master Builders Australia, Wilhelm Harrisch, said that this should be just the start of other changes to come, saying that “Red Tape Repeal Day” needs to be backed up.
“Red tape may sound mundane until you connect it with business people spending hours grappling with excessive paperwork instead of directing their energies to the productivity of their businesses and creating new jobs,” said Harrisch.
“Building and construction is one of Australia's most intensely regulated industries and the nation's third largest employer. Cutting red tape will boost the productivity of the industry allowing it to generate more jobs and provide better value to consumers,” he said.
A report for the Australian Building Codes Board found that the simplification of national regulation covering the building industry would benefit the economy by $300 million a year.
“We will continue to champion regulation review and reform of the national building standards National Construction Code, and of the work of Standards Australia, both of which have large regulatory footprints on the building and construction industry,” he said.
The reforms are also being pushed to help tackle the undersupply of housing and housing affordability, as well as to accelerate projects in the commercial sector.
Some of the inefficient regulations being changed include the requirement to register with the Commonwealth any construction equipment hired for more than 90 days. Another mentioned was the requirement for contractors to report to the ATO for each transaction they have with another contractor, which he claimed was a measure that penalised the masses to catch the few breaking the law.
“New regulation should only ever be considered following a rigorous assessment about whether it is needed in the first place including a requirement to closely consult with business. Where a need is established there needs to be a greater discipline and rigour in the Regulatory Impact Statements,” he said. 
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Legislation to reduce construction industry red tape applauded by Master Builders

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In an ASX announcement, Lend Lease indicated that they are now the appointed preferred tenderer for the nine kilometre NorthConnex Motorway design and construction in Sydney.
Partnering with French construction group Bouygues Construction to deliver the project, the joint venture contract award is still subject to planning approval being obtained and contract terms finalised. The entire link is expected to be open for 2019.
While north west Sydney residents, notably those in the underserviced Hills District, will be excited by the news, they’re likely to be less so by the recent discovery by Ninemsn that more than 50 properties will need to be destroyed for the project.
The $2.65 billion project is a tolled link that spans from the southern end of the M1 Pacific Motorway, which long time Sydneysiders are likely to know of as the F3 Freeway, at Wahroonga, to the Hills’ M2 Motorway at the Pennant Hills Road interchange.
As anyone who has lived and commuted in the north-west area for any length of time can tell you – it’s much needed.
The project itself is in the hands of Transurban Limited and partners Westlink M7.
On Tuesday, however, a spokesperson for the New South Wales government’s Roads Minister Duncan Gay told Ninemsn that potentially 52 commercial, industrial and residential properties would need to be acquired and destroyed. And the compensation for the owners is still unclear.
The properties in questions are those along the route itself and those at main work sites and where the existing roads need to be altered.
"It is too early to determine the level of compensation required - the project team is committed to working closely with those affected to allow the necessary acquisition to be progressed ahead of work starting in 2015,” the spokesperson was reported as saying.
Whether property owners have or have not been contacted yet is unclear.
It is noted that the $2.65 billion total for the project includes funds for required acquisitions. You can <a href="https://www.northconnex.com.au/explore.php" target="_blank">see the route online</a>.
The route heads through Thornleigh, Normanhurst, Wahroonga and West Pennant Hills, many of which have properties that span into the millions of dollars and some in markets that saw fairly impressive results last year.
Some of the particular roads that appear to be near to the action on the maps include the Hills District’s Wilson Road, Darling Mills Creek, Barclay Road and Yale Close. Within the Northern ventilation includes Woonona Avenue and Bareena Avenue.
Ventilation outlets are also identified at Coral Tree Drive, Karloon Road. See <a href="https://gisapps.aecomgis.com/northconnex/map" target="_blank">the detailed map for more information</a>.
If you know of any properties to be acquired throughout this process, contact us: <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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NorthConnex Motorway link advancing, but how much will the government pay for 50 properties that need destroying?

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With $1 billion in direct investment to be poured into Victoria through the Station Precinct Enhancement Program it’s unsurprising that many investors are asking where the money will be spent.
Under the funding, more than 3,000 direct project delivery jobs will be created and underutilised government land will be unlocked to deliver housing, retail, commercial and public spaces for communities, as well as improved railway stations.
The funding was announced by Premier Denis Napthine who said that there would be a number of benefits to many communities.
“The program will deliver a significant economic boost to Victoria. It will create more than 3,000 direct project delivery jobs, a further 5,000 indirect jobs through construction and the potential to support more than 800 full-time commercial and retail jobs after project completion,” said Napthine.
Meanwhile, Minister for Public Transport, Terry Mulder, said that there have been 10 sites that have already been identified, including two where the improvements have already been brought to the market – at Jewell and Hampton. Alphington expects to see an expressions of interest process mid-2014.
“This program will deliver the right mix of housing, retail, commercial and community spaces located right next to the rail corridor, which will in turn create vibrant, dynamic, liveable and accessible places – places where people want to live,” Mulder said.
In total, there will be 10 Victorian suburbs for development, with the other seven currently being investigated:
<ol>
<li>Jewell</li>
<li>Hampton</li>
<li>Alphinton</li>
<li>Essendon</li>
<li>Windsor</li>
<li>West Footscray</li>
<li>Collingwood</li>
<li>East Richmond</li>
<li>Ringwood</li>
<li>Watsonia</li>
</ol>
MacroPlan Dimasi, a research hub used by developers and other bodies, has undertaken economic modelling that has shown that the 10 sites will facilitate further investment opportunities – to the tune of $1 billion – over the next three to five years, as well as $5 billion in economic stimulus.
And, Napthine announced, there will be a competitive process for the release of the land for both private sector investment and development.
“The program will deliver developments across metropolitan Melbourne of varied scale appropriate to their location, with the community and public transport users benefiting via new and upgraded facilities in the surrounding station and broader precinct,” he said.
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10 Victorian suburbs that may benefit under $1 billion of new public infrastructure

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A one-bedroom apartment in St Kilda’s The Face, which has a balcony facing on to Luna Park’s own iconic, if slightly eerie, face, is heading to auction next month.
Looking for $415,000 plus buyers the April 5th auction, at 12.30pm, sits on Acland Street and Carlisle Street.
It features built-in robes, a Euro laundry, secure one-car parking and an entertaining balcony.
<img src="/images/2014/03/19/st-kilda-march-17-three.jpg" alt="">
At 204/72 Acland Street, St Kilda, it is one of around 30 apartments, which range from 39 square metre studios to 240 square metres for three bedroom terraces. There is 450 square metres of retail at the ground level.
The building itself is four storeys, and the ARM development websites explains that the Luna Park Mr Moon face is a metaphorical link to the Carlise Street façade, based on Salvador Dali’s 1937 painting ‘Sleep’ – an image of a face on crutches.
<img src="/images/2014/03/19/dali%20sleep%20march%2017.jpg" width="460">
Photo: 'Sleep' by Salvador Dali.
<img src="/images/2014/03/19/luna%20park%20march%2017.jpg" width="460">
Photo: The front entrance to Luna Park in St Kilda, source: Wikicommons
Meanwhile, the north-east and north-west facades are based on Dali’s 1936 ‘The Anthropomorphic Cabinet’ and 1937 ‘The Burning Giraffe’.
The development was completed in 2012 by ARNO Corporation, with a $12 million value, and designed by architect Ashton Raggat McDougall (ARM).
At the time of development there was significant resistance from locals, including Port Phillip Council, to the change in streetscape due to the demolition of eatery Freasy Joe’s and four adjacent heritage buildings, however VCAT ruled in favour of the development. There were 21 initial objections.
<img src="/images/2014/03/19/st-kilda-march-17-two.jpg" alt="">
St Kilda ward councillor Karen Sait was angered by the decision at the time. "The Face might be a high-quality design, but it comes at a terrible price - the demolition of five heritage-listed buildings which are part and parcel of the area's inter-war character" Sait said, calling it an “overdevelopment”.
Despite this, VCAT said that it actually enhanced the character of St Kilda, by enhancing the flamboyance and diversity of the area.
One of the two-bedroom apartments on Stayz asks for $160 to $220 per night for holiday bookings.
<img src="/images/2014/03/19/st-kilda-march-17-foru.jpg" alt="">
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St Kilda Dali-inspired The Face apartment set for auction

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Newly released Bondi apartment development, Maison Blanc, has sold 10 of its 16 apartments, with downsizers appearing to be some of the more active buyers.
The boutique development from Fiducia Property Group and Manning Property Development is a north facing block that includes views of the Royal Sydney Golf Course to the CBD, with 180 degrees of harbour views.
<a href="https://www.maisonblanc.com.au" target="_blank">Maison Blanc</a> is located on the corner of Old South Head Road and Roe Street in <a href="/news">Bondi</a>, with a street address of 403-405 Old South Head Road.
<img src="/images/2014/03/19/bondi-march-19-six.jpg" alt="">
Completion is expected for the development by early-2015, with the remaining apartments including two-bedroom, two-bedroom plus study, and split-level penthouses, with prices from $925,000 to $1.39 million. Initially there were also one bedroom properties on offer from $650,000.
<img src="/images/2014/03/19/bondi-march-19-two.jpg" alt="">
It appears initial expectations were for a late-2014 completion.
Each has an open plan style, whitewashed interiors and a balcony or terrace access.
Associate director CBRE, residential projects, Colin Griffin, said that it’s close to Bondi Beach, a café lifestyle and coastal walks with convenience and a good location.
<img src="/images/2014/03/19/bondi-march-19-three.jpg" alt="">
Secure parking and external storage is also included.
There was a ‘VIP’ launch for the development on the 1st March 2014. The sales display is currently open for other prospective buyers.
<img src="/images/2014/03/19/bondi-march-19-four.jpg" alt="">
There are currently several Bondi and Bondi Junction developments slated for the next couple of years, including <a href="/news/pacific-bondi-beach-the-lofts-to-launch-this-weekend">prestigious The Lofts development</a>.
The slick sales website for the Mason Blanc apartments comes from Sydney-based advertising and design agency ‘Made’.
<img src="/images/2014/03/19/bondi-march-19-five.jpg" alt="">
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>.
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Boutique Bondi development Maison Blanc sells 10 of 16 apartments

SMSF ‘SuperHelp’ magazine advertising on ASIC's radar after 'free' claims

Online petition for mandatory reserve price publishing launched

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New developments and affordability incentives are being jump started in some of Queensland’s mining towns as a result of increasing rents and prices for homes.
State land has been fast tracked for houses and industry through the Regional and Resource Towns Action Plan in resource region towns.
Now one year since the plan has been put into place, 40% of the 136 actions have been implemented.
Premier Jeff Seeney said that resource towns had been hindered in the past by poor planning and tight restrictions, leading to unaffordable housing.
The plan, finalised in March 2013, used council input to determine what could be done about the difficult situations for those living in mining towns.
For instance, back in 2013 in Queensland’s Roma, the government built and offered 13 homes to low and middle income families. There were more than 300 expressions of interest from those fitting the criteria.
The homes are currently rented at a discount of almost 50% of the market value: One-bedroom: $190 per week Two-bedroom: $230 per week Three-bedroom: $260 per week
The Regional and Resource Towns Action Plan Implementation Report indicates that rents of up to $600 per week for one-bedroom units in Roma have been seen.
“For me, a stand out success story of this plan is Roma,” Seeney said.
“Here the government has fast-tracked development of the Clearview Rise residential development, improving the supply of residential land in Roma,” he explained.
“In addition, $2.12 million has been provided to undertake sewer augmentation, $1.12 million to upgrade the sewer trunk servicing the Clearview Rise and $2.3 million to improve stormwater infrastructure within Roma.” Clearview Rise, in Roma’s Priority Development Area, will provide 300 homes – from four-bedroom houses to studio apartments, terraces and lofts – for affordable prices.
Several stages have been fast tracked by Economic Development Queensland, including Stage 4 by four months and Stage 2 by 10 months. Stages 1, 2 and 4 are currently complete.
Current packages available for house and land from $239,000 to $466,900, and land only from $94,000.
“The South-West Queensland town of Roma has been heavily impacted by the growth of the resource sector in the Surat Basin,” the report explains.
“The imbalance of housing supply and demand has led to spiralling housing purchase and rental prices, and a lack of appropriate housing options.”
Seeney also pointed to a 112 hectare parcel of land being transferred to the Maranoa Regional Council to complement a 500 hectare parcel of and adjacent to it.
“These initiatives accelerated the release of land to market and will see council better able to deliver affordable housing to Roma residents,” he said.
Seeney is now looking at developing land at the Whitsunday Coast Airport, and is working with Member for Whitsunday, Jason Costigan, who welcomes the opportunities for the area.
“The resource sector plays a massive role in the economy of the Whitsundays and the neighbouring local government areas of Mackay and Isaac,” Costigan said.
“I’m delighted to see the Whitsundays included in this plan which over time will help our region to better reap the benefits and meet the challenges resulting from the important resource sector.”
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Queensland mining towns’ skyrocketing rents and prices see government intervention

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.

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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.

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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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Jennifer Duke

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