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South Australia's new home grant ends today, with the Urban Development Institute of Australia SA (UDIA) noting that this will be detrimental for home buyers.
The current grant provides $8,500 to South Australians building new homes up to the value of $400,000, with smaller grants achievable up to $450,000.
The UDIA recommends that it should be continued on into 2014, rather than terminated.
“The UDIA is disappointed that the grant will no longer be available to people building a new home in South Australia,” said executive director for UDIA (SA), Terry Walsh.
“The property industry in SA is still only in the early stages of recovery with the rate of new home approvals continuing to disappoint, so we think removing the grant is premature and may serve to dampen consumer confidence even further," he said.
He noted that the current boost has been a good incentive for new home buyers, including young people entering into the market and first home buyers.
“We think removing the grant, particularly in light of relatively weak market conditions, will have the opposite effect and prove detrimental to new homebuyers," he said.
“And if buyer activity slows, so too will the broader property development and construction industry, which provides tens of thousands of jobs for people across the state.”
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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End of South Australia's new home grant to be detrimental in 2014: UDIA SA

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On 1 January 2014, the Consumer, Trader and Tenancy Tribunal is to become the NSW Civil and Administrative Tribunal, replacing the CTTT and twenty other resolution tribunals and boards.
The Tenant's Union has been involved through the State Government's NCAT Reference Group, where they note that their efforts have been based around ensuring that the new tribunal provides tenants with the same level of "access to justice" as the CTTT did.
New South Wales Attorney General, Greg Smith, said that this was to simplify the "complex and bewildering" CTTT system and to increase its accessibility.
“The NSW Civil and Administrative Tribunal (NCAT) will be a one-stop shop for almost all state tribunals, ranging from relatively small bodies such as the Chinese Medicine Tribunal through to the much larger Consumer, Trader &amp; Tenancy Tribunal,” said Smith.
It will be different to Tribunals operating in Victoria, Western Australia, Queensland and the ACT as it will be using specialist experts and separating the tribunal out into specialities.
An internal appeals panel will enable quick and accessible reviews of the majority of tribunal decisions.
“Currently there are limited avenues of appeal against the decisions of some tribunals, but all divisions of NCAT will be accountable for their determinations,” Smith said.
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CTTT to become NSW Civil and Administrative Tribunal (NCAT) as of 2014

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There are currently more than 15.5 million credit cards in circulation, with an average $22 billion spent on credit purchases every month in 2013, however over the holidays you need to keep a close eye on your spending, according to RateCity.

The end of January will be here before you know it, and the last thing you want is to blow 11 months of doing the right thing with your credit card in just a month, warned CEO of RateCity, Alex Parsons.
“The only way to limit the damage from credit cards is to proactively put plans in place that will minimise the cost of overspending and paying unnecessary fees,” said Parsons.
He noted that there are five common traps that can be easily avoided.
1) Be aware that shopping with a card feels different to shopping with cash
When the statement finally arrives, you’ll then realise how much you have spent – when you use the cash it’s a physical reminder, however the card can put it out of your mind.
“Where possible, use cash or a debit card. This will help you control your spending,” he said.
2) Know that minimum repayments can be costly
Parsons points to data they have collected showing that most credit cards have a minimum repayment of just 2% of the outstanding balance.
When looking at a $5,000 debt, paying the average rate of 17%, it could take 30 years to clear the debt.
“By paying the minimum, you don’t cover your interest payments and end up paying more interest overall as it takes you longer to pay off your debt. Ideally, you should pay the balance in full each month. If that’s not possible, pay as much as you can afford,” he said.
3) Cash advance features can also cost you
Cash advance features of a credit card can affect you in unexpected ways. Interest-free periods do not apply to cash advances, for instance, with often exorbitant interest being charged on these. This can be as high as 29.49%.
“But that’s not the only trap associated with cash advances. In many cases, you’ll be hit with interest as soon as you withdraw the cash as well as possibly having to pay a withdrawal fee. This fee may be a percentage of the amount you withdraw or a flat fee,” said Parsons.
4) Introductory and balance transfer deals can revert to high rates
The terms on your introductory and balance transfer credit card deals can note that you revert back to rates of almost 20% on balance transfer cards.
“There’s around a dozen 0% intro-rate credit card deals advertised at the moment, and more than 50 balance-transfer deals offering interest-free for up to 12 months, which can seem like a great way to shed the Christmas credit hangover,” he said.
“But many of these deals wouldn’t exist if the banks weren’t sure that many people will end up paying interest on the revert rates. So only use these if you’ve got the discipline to pay it off in full during the intro period and not rack up more debt."
5) Ensure you are aware of excess fees
Annual fees and interest charges are not the only costs you may be slugged with, as the way you use your card can also see you racking up more debt.
For instance, fees such as exceeding your credit limit, late payment of monthly statements, replacements for cards, using ATMs outside of your network and similar can also cause extra costs.
Spend wisely when out shopping these holidays!
<a href="mailto:Jduke@propertyobserver.com.au">Jduke@propertyobserver.com.au</a>
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Five ways to avoid blowing your home deposit with credit cards: RateCity

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Not everyone has the luxury of a large yard to barbecue in over the summer season, however those with a balcony can still enjoy a good cook up provided they take care around certain risks.
Archers Body Corporate Management’s managing director, Colin Archer, warns that unit occupants should be careful when cooking on balconies to ensure gas cylinders are checked regularly. This should help avoid fire or injury.
LPG and barbecue fires are largely caused by wear and tear on gas hoses and burners, or unsafe use of barbecues, said Archer.
In confined spaces, the risks can often be maximised due to the consequences of fire and explosions in small areas.
“Every year the Fire Service is called out to fires in unit complexes caused by barbeques that are faulty or have been used incorrectly,” he said.
“These fires can cause extensive damage to the property, or worse, injury or fatalities.”
Bodies corporate should check communal barbecues, yet those on balconies are the responsibility of the tenant. They should still comply with by-laws.
LPG cylinders should never be used in confined spaces, and the gas always needs to be turned off after use.
Archer’s tips for barbecuing in the holiday season:
<ol start="1">
<li>Ensure smoke is not disturbing neighbours or damaging the walls or paint. </li>
<li>Ensure smells are not excessive. Positioning the barbeque in an area where there is adequate air flow will help with this.</li>
<li>Check to ensure the gas bottle and connections are safe, in good condition and checked by a professional regularly.</li>
<li>Ensure noise from visitors is within an acceptable level and ceases at a reasonable hour.</li>
<li>Ensure the balcony is not overcrowded and any rubbish from the BBQ and guests is not thrown over the balcony.</li>
<li>Ensure the balcony and barbeque is cleaned after use and food scraps are disposed of, these can attract pests or rodents.</li>
</ol>
<a href="mailto:Jduke@propertyobserver.com.au">Jduke@propertyobserver.com.au</a>
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Tenants and unit owners: A practical guide to barbecuing

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The threat of burglary can often escalate at Christmas time, and in the days following up to New Years, when many are away holidaying or spending their nights at relatives homes, and property owners should be aware of the risks and potential mitigation, warns Angus Raine, executive chairman and CEO of Raine &amp; Horne.
While surveillance has helped in recent times, there are still a number of precautions that often get overlooked by tenants and home owners alike.
Ensuring doors have high-quality locks, such as deadlocks, as well as ensuring windows have keyed locks or security grills, should be on your list, said Raine.
“If your home has sliding doors or windows, a simple metal or wooden rod wedged in the cavity can prevent them being opened from the outside," he said.
For those with the time, installing a security alarm and locking up the power box to prevent tampering with the system, including security lights and ensuring gates are locked and gaps in fences are repaired can help.
Also presenting an image that the home is occupied over the period can be a simple yet helpful deterrent.
“Leaving blinds or curtains in normal positions and installing a sensor light to flick on when someone approaches can ward off aspiring intruders,” he said.
“Set a timer to switch on your lights and a radio or television at different times, while hanging some old clothes on the line and leaving a pair of shoes at the front door are other ways to give the impression your home is occupied.”
He also said that home owners should turn down the ring tone on their home phone so that when it rings out, it won’t be obvious to those around. Leaving a message on the answering machine or voicemail telling those who call you are away is also not a good idea.
“You should also suspend newspaper or magazine subscriptions during your absence,” he said, for those gone for longer periods of time.
Trustworthy neighbours can also be good allies – looking out for unusual behaviour and also putting your bins out or moving your mail as necessary.
The following tips can be applied all year round, said Raine.
<ul>
<li>Don’t leave spare keys in obvious places;</li>
<li>Put small valuables such as cash or jewellery in a safe deposit box;</li>
<li>Mark or engrave valuables with your driver’s licence number and keep a list and photographs of them;</li>
<li>Keep home and contents insurance up-to-date.</li>
</ul>
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Holiday break ins: Protect your property

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You've moved in, children (or no children) in tow, and are busily awaiting Christmas day and your visit from Santa.
The christmas carols are on, the tofurkey is stuffed ready to go in the oven for Christmas, and you're enjoying your beautiful home.
Except, there's something missing. A fireplace.
Here are some quick solutions to bring in the fireplace ambiance, without the complete installation of a chimney-situation. We've chosen three quick fixes from no cost to more expensive, so there's something for everyone.
1) The free option - Go digital
Grab your laptop, or computer, and hop onto Youtube where there are hours and hours, literally, of fireplace footage.
{qtube vid:=EuP5s1n_U0A}
For a small outlay you can even buy smartphone and tablet apps with this effect, however we think there are some good enough free options available. It requires basically no effort, and while it doesn't create any extra heat and isn't the most realistic proposition, if ambiance is what you're after then this will be your instant fix.
Definitely a good option for tenants who are unable to materially change any part of the property in which they live.
2) The budget options - Look for minimalism
This may take a bit more effort and DIY handiwork, however <a target="_blank" href="https://blog.diynetwork.com/maderemade/2013/11/13/create-a-festive-and-glowing-fireplace-without-the-fire/">getting yourself a mantel to decorate</a>, or choosing a focal point in a room to create a faux-fireplace, can be a low budget option.
Consider grabbing some logs, candles and/or fairylights and make your own. There are plenty of online tutorials and <a target="_blank" href="https://www.pinterest.com/search/pins/?q=fake%20fireplace">inspiration boards, such as on Pinterest</a>, to help you make something that, while perhaps not authentic, will pass for your Christmas day.
There's also <a target="_blank" href="https://www.wikihow.com/Make-a-Fake-Fireplace">this option from Wikihow </a>that has three solutions for crafty home improvers using an old dresser, plant pillars or cardboard boxes to create something resembling a fake fire.
3) The lavish option - A portable fireplaces
<a target="_blank" href="https://www.ecosmartfire.com/bioethanol-fireplace-products/fireplace-inserts/available-models/page-650ss">Portable fireplaces, such as these here</a>, are a constant source of debate for interior addicts, some of whom hate them and some of whom love them. They can be costly, spanning into the thousands, but can also be snapped up for a few hundred (also check out your eBay and Gumtree sites for potential secondhanders). With actual flame effects, these lookalikes can also sometimes dispel heat.
An outdoor heater can also be a good option, some of which have real fire or similar effects and will really heat you up (just remember these must still be used outside!).
Choose wisely.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Three solutions for a property without a fireplace

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Christmas is the time for holidaying, and it seems that it quickly identifies where is back in favour for holidaymakers, with Gold Coast occupancy rates back up to 95%.
Byron Bay is nearing 100% occupancy rates for the 2013/2014 summer holiday period, while bookings are up 30% on the NSW South Coast, according to Raine &amp; Horne.
Executive chairman and CEO of Raine &amp; Horne, Angus Raine, said that Australians are holidaying locally pushing down the vacancy rates in many holiday home areas.
If you’ve left it until now to secure on of these properties for your holiday, it may just be too late.
Raine &amp; Horne Byron Bay principal Sophie Christou said that the no vacancy sign is not far off for the 28 December to 4 January week.
“Our holiday lettings booked out about three months ago for that week, which is an improvement on last year,” said Christou.
“It helps that there are international flights from New Zealand to the Gold Coast and then it’s a 45 minute drive to Byron Bay,” she said, noting two-bedroom holiday homes start from $2,000 a week during the Christmas season.
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Gold Coast hols in favour, occupancy rates up to 95%: Raine & Horne

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It's the last week of Christmas and if you haven't bought everything you needed to (don't worry, we're likely the same), then you're in luck.
Property enthusiasts aren't always the easiest to buy for - unless they've asked for something specific for interior decoration, or you're rich enough to buy them a property for the festive season - so we've compiled a list of "what to get" your property loving friend.
1) Books
While some see books as the 'worst' gift, others really value them - particularly when selected carefully. While you could buy them something educational, such as the number of titles that fall on the 'Property Investing' shelf in a number of bookstores (such as Dymocks), sometimes it's nice to get something just-because as well.
Here are some of my personal favourites that recently jumped onto my list.
Fashion House by Megan Hess fell into my collection during a romp through the Penthouse at South Yarra. Each visitor was given a copy, and this gladly graces my bookcase at the moment. The stunning book includes lovely illustrations from Hess (who is famously known for the Sex And The City covers) of interiors. She covers fashion-brad homes, such as Versace, as well as styles and feelings e.g. bohemian and converted warehouse styles. It's truly beautiful.
Mulitudes by HASSELL was another that I acquired. Heading over to the book launch to speak with the architects themselves, it was amazing how much of the team's heart and soul was poured into this very hefty 75-year-anniversary tome. The photos through time really did it for me. Seeing landmarks in Sydney and Melbourne in the book that make you suddenly look around you and think 'someone actually designed this building I'm standing in right now and it didn't even occur to me' was a great experience. For instance, the Parramatta Interchange and the Qantas Terminal. For all architecture fans and those just curious about the built world around them.
Regency House Styles by Trevor Yorke is a slim stocking-filler sized volume that is easily purchased online (check shipping times). It has hand-drawn illustrations, gorgeous depictions of different British properties, and if you're designing a home then this is a perfect option for you.
2) Vouchers
Yep, a bit of a cop out, we know, however every time I ask my parents (or other house proud people) what they'd like then some sort of voucher comes up. Consider places like Bunnings (my Dad's favourite, and great as it's basically an all-rounder option) where you can also grab a copy of Handyman magazine to add to the gift, Masters or even Ikea.
Unfortunately, the Victoria's Basement gift card section on their website is still 'coming soon' or I'd quickly add that to the list too.
3) Online subscriptions and software
You can get Property Observer for free (so we're assuming they've already subscribed!) but there are a range of online search engines and portals that require paid access. You might want to ask them for their preference, and they can often be costly, but for an up and coming property investor this is the ultimate gift of information.
Software can also be another one to consider. While many people are keen on using simple excel systems and also keep track using their iPads and smart phones, others are big on pre-designed systems that do it all for you.
4) Redballoon ideas
Redballoon is excellent for a number of reasons. There's plenty of choice, it's quick, it's easy and they provide somewhat helpful categories. Property-lover, however, isn't one of them. They do have a <a target="_blank" href="https://www.redballoon.com.au/creative-gifts/house-garden">House and Garden category</a> though.
Depending on the style of your loved one, colleague or friend, you may want to consider one of the following. Remember, you can always shop around further on the internet, regularly gift hunters use Redballoon for ideas.
A <a target="_blank" href="https://www.redballoon.com.au/creative-gifts/personalised-gifts/home-handyman-or-gardener-2-hours">home handyman or gardener </a>for a set period of time.
<a target="_blank" href="https://www.redballoon.com.au/creative-gifts/art-craft-classes/stone-sculpture-for-your-home-or-garden">Stone sculptures for your house or garden</a> that you get taught to make yourself.
There's anything from floristry workshops to home cooking help and gingerbread homes pre-made. You can even book in for holidays at some of the beautiful mansions across the country (why not).
5) Games and frippery
We don't want to be serious all the time. For investors, it might be a Monopoly board (who doesn't want to play with houses and hotels?), you might get them a ticket to one of the numbers of property raffles across the country (make sure it <a target="_blank" href="https://www.dob.nt.gov.au/gambling-licensing/gambling/lotteries/Pages/lotteries-raffles.aspx">complys with the rules</a> first) or head over to <a target="_blank" href="https://boardgamegeek.com/boardgame/2645/prize-property">Board Game Geek</a> to find some more. Prize Property, the 1974 board game, for instance is all about developing, and there are a number of others listed.
6) DVDs
Many of our readers are enthusiasts of The Block, and so a box set from JB HiFi might just be the helpful solution you need. Don't forget other series such as Location, Location, Location Australia, as well as overseas counterparts. One of our favourites is UK's Changing Rooms (1996 to 2004), and we also love Grand Designs.
What did you get your fellow property enthusiasts for Christmas? (Even if they're not property related gifts, we still want to know!)
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Last minute gifts for real estate enthusiasts

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We all love a bit of Youtube, particularly when it comes to getting inspiration for putting up decorations or doing anything crafty or DIY-related. When it comes to getting your home ready for Christmas (and a quick FYI for those not looking at their calendars - you have four days!), it's worth seeing what help you can get from the online community.
Here's some free inspiration to help you along.
 
For the house proud
This video has interior designer, Rebecca Robeson, take you through her home and her Christmas decorating. While the video is from 2012, the tips are timeless. We'll warn ahead, this may not necessarily be for the time poor, although it's beautiful and very tastefully put together.
"During the holidays, I like to bring Christmas throughout my entire home," Robeson says in the video. She's not kidding - every surface has a Christmas candle, cushion or decoration. This certainly won't be for those on a tight budget, but if you're entertaining, or hosting some sort of event, this may be right up your street.
Her home is there to tell a story, from when you put your keys down to when you walk through. Her colour theme is Winter White, Snow White, gold and touches of turquoise. We're not quite sure what the difference between winter and snow white is, but it looks good.
"I even change my pillows for this time of year," she says, pointing to her subtle design - including snow flakes hung in front of a ten foot tall mirror with LED lights to give the sense it's snowing indoors.
{qtube vid:=TZADnkwNEO8}
 
For the artsy
Slightly more upbeat, and something that can probably be done as a family, this video is about how to make wreaths out of dollar shop Christmas ornaments, a bit of ribbon and a wire coat hanger.
It's pretty quick and fantastic, and the instructions are very clear.
{qtube vid:=ZKIPYpOgD3g}
 
For those on a budget (room by room)
This video is all about re-use and clever use of colour and thrift shop items to get the biggest impact. We particularly like the 'Christmas bar' idea using the bookcase.
{qtube vid:=H7VB6d9lwA8}
If ypu're after even more DIY tips, then there's<a target="_blank" href="https://www.youtube.com/watch?v=BneK-k08JLQ&amp;list=PLvhr5ptjCvrVdUnSmSlZOfywEsR6dd0Gd"> a series of videos, starting with one from FAWN</a>, who shows you how to glam up your home on the cheap. He suggests bringing the outside in with pinecones, glitter and use twigs. There are also some good tips on placing fairylights and candles around your home. Other videos in the set looking at making your own wreaths on the cheap and making winter votives.
 
For the time poor
If you're looking for quick Christmas decorations around your home, and aren't looking to necessarily spend an arm and a leg, then there are plenty of options for you too.
This video includes some quick tips (even looking at how mood lighting can help), combined with some slightly more time-consuming tasks (planting little trees, for instance). It also looks at using scents, such as spicy cinnamon, to bring in the Christmas feel.
{qtube vid:=YgXHKIRk0O4}
 
Finally, sit back and enjoy
{qtube vid:=D30s2XqiXLI}
 
Snap some photos of your holiday decorations and send them in.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Video: How to decorate your home for Xmas

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Noted as one of Hobart's 'true' mansions, 1905-built Roscraig was constructed for Mr Brownell, the owner of Brownell Brothers Ltd, the first department store in Hobart.
The property is on approvimately 2,246 square metres on the high side of the road, and has views over New Town, North Hobart, the Hobart Docks and the Eastern Shore.
The four-bedroom, two-bathroom home, <a target="_blank" href="https://www.realestate.com.au/property-house-tas-mount+stuart-115397639">21 Mortimer Avenue, Mount Stuart</a>, includes an operational original servants bell and six car spaces.
{yoogallery src=[images/stories/2013/12/19/mortimer/gallery/]}
The pictures show beautiful stained glass windows and period-features, such as bay windows and fireplaces.
It's currently listed asking for $1.2 million. RP Data records show that previously, it was bought in 2005 for $650,000, having been purchased for $205,500 in 1987.
<img src="/images/stories/2013/12/19/mortimer/floorplan1.jpg" alt="floorplan1" height="627" width="470">
Brownwells originally began as David Moses' London Mart, which was a drapery and general store builty in 1836. It then became Brownwell Brothers in 1888, according to <a target="_blank" href="https://www.utas.edu.au/library/companion_to_tasmanian_history/B/Brownells.htm">The Companion to Tasmanian History</a>, before becoming a public company in 1902.
It was remodelled in the 1950s with American techniques, becoming Tasmania's largest department store, before being taken over by Myer in 1959.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Historic Tasmanian home with department store fame

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.

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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."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

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

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

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