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It's the Property Observer team's last day before the festive season today. Have a great Christmas, and remember to keep things in perspective.
<blockquote class="twitter-tweet" lang="en">
Very humbling visit to the children's ward at Southend Hospital today, puts things into perspective, hope they're all home for Christmas! X
— Dan Bentley (@dan_bentley1) <a href="https://www.propertyobserver.com.au/https://twitter.com/dan_bentley1/statuses/412982481080840192">December 17, 2013</a>
</blockquote>
Queensland's Kids in Care Christmas Appeal has brought 16,500 donated gifts to children unable to live with their biological parents this Christmas and who are in foster care and other families.
Child Safety Minister Tracy Davis said that any extra presents were being given to NGOs to distribute to disadvantaged or vulnerable families. She said that they are supporting children living in out of home arrangements.
We wish you a very happy Christmas, and hope you're heading home for it. Our thoughts to those who might be going through difficulties and hard times this season.
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jduke-EHk3XBmHkn

Christmas good will

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A beautifully decorated terrace, <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-woollahra-114604603">4 Victoria Avenue, Woollahra</a>, is up for sale. The restored circa 1860s tri-level home with garden studio, dubbed 'Timaru', is on the market, with gorgeous interior decorating speaking of a time of luxury long past.
{yoogallery src=[images/stories/2013/12/19/woollahra/gallery/]}
It's really no surprise that the photography comes with such beautiful furnishings, as owners Annemie Nathalie Stein and James Frederick Stein are antique dealers for Queen Victoria Building located Martin and Stein.
The shop has been established since 1972, with expertise in antique jewellery and decorative arts, with pieces sourced internationally with a focus on the UK, USA and Europe.
{qtube vid:=-9CK9Gm3I4s}
And with a Leonardo Da Vinci book on the living room table, and artworks and intricate cabinets throughout the home, it couldn't be a more perfect property to reflect the antique-side to its owners.
James Stein is also the creator/creative director of Pieter James Interiors, which appears to be partially operated out of Glebe and out of his and AnneMie's 1998-purchased Mount Wilson property. Launched in 2011, he has been developing a range of homewares such as scented candles, textiles, cushions, kitchen accessories and cookware over 2013. This may also be behind the tasteful photographs.
The four-bedroom, two-bathroom property has a master bedroom with an original fireplace and plantation shutters.
<img alt="floorplan1" src="/images/stories/2013/12/19/woollahra/floorplan1.jpg" height="329" width="470">
The property still has its 1860 leadlight doors from Hyderabad, original French cast iron fireplaces and high ceilings. It also features stained glass on one of the doors, as shown in the picture.
It last transacted in 1989 for $725,000, according to RP Data, and was previously listed in 2003 with McGrath.
Recent sales along Victoria Avenue include number 13, a two-storey three-bedroom one-bathroom 112 square metre house, which RP Data notes sold for $1,750,000 earlier this month. Meanwhile, a one storey terrace, number 17 sold for $1,600,000 in July - it has three bedrooms and one bathroom as well and 108 square metres.Timaru has 227 square metres.
It appears Timaru should command a higher price with more bathrooms and significantly more land.
In fact, when narrowing down to homes of more than 200 square metres and with four-bedrooms and two-bathrooms, there are just three recent sales in Woolahra, two of which commanded close to $3.5 million, and one (a renovator), achieving $2.4 million. Each had around 240 square metres.
Woollahra is home to some of the big Sydney names, including <a target="_blank" href="/news">PR maven Roxy Jacenko and her stockbroker husband Oliver Curtis</a>.
Earlier in 2013, National Australia Bank executive <a target="_blank" href="https://www.propertyobserver.com.au/news/nab-s-drew-bradford-lists-%2455-million-woollahra-trophy-mansion/2013081463983">Drew Bradford and wife Allison listed their five-bedroom Woollahra home</a> for $5.5 million.
jduke@propertyobserver.com.au
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Vintage Woollahra treasure trove terrace from antique dealing couple on market

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A ten-bedroom, nine-bathroom property, <a href="https://www.harcourts.com.au/Property/508251/THH4324/2-Louisa-Street" target="_blank">2 Louisa Street, Ranelagh, named 'Clifton'</a>, is asking for $1,750,000, and comes with a royal stamp of approval, having been visited by the Queen in the 1970s during a Royal Tour.
The visit was covered at the time in the Australian Women's Weekly, with an example of the article displayed in the library of the home. The Queen's brief visit to <a target="_blank" href="/news">Ranelagh</a> was part of Tasmania's presentation of the apple harvesting process, as seen in the video below.
{qtube vid:=EdqM_xhr7zE&amp;list=PLF9E00A4418A9E812&amp;index=28}
From 6.44 onwards
While the entire property is circa 1850, the main house was built from 1865 and is a landmark of the Huon Valley having once been part of a significant family enterprise before selling outside of the family for the first time in 2000.
The property includes a 25-room house, two cottage rooms, a four-car carport, a three-storey hop drying kilm called Oast House, which includes guest accommodation, two apple pickers' huts and a number of sheds. One of the cottages, Tilly's Cottage, was remodelled in 2007 out of a 1960s paintshed for bed and breakfast guests, with these properties all being constructed at different times.
{yoogallery src=[images/stories/2013/12/19/clifton/gallery]}
 
Including five acres of garden, parkland and paddock, the main house and its adjoining Oast House, are listed by the National Trust. Oast House is the only kiln of its kind south of Hobart and has the original press and drying kiln.
At present it is used as a large family home, however it has been used as a bed and breakfast in the past for around a decade. It picked up a number of tourism awards and accolades.
"The Queen once stopped here for tea and a pee" notes the Lonely Planet guide to Tasmania, referring to the Bed and Breakfast, then called Matilda's, as one of Tasmania's finest. For those interested in restoring the property to a B&amp;B, under the former owners it was achieving from $165 per room per night upwards, including breakfast.
It won hotelaccommodation.com.au's People's Choice Award in 2004 and is noted online as being for lovers of golden retrievers.
It was previously owned by former WA winery 'Matilda Meadow' owners. The former hotelier Don Turnbull and former oil-industry executive Pamela Meldrum-Turnbull, who had five golden retrievers, bought Clifton on a visit to Tasmania.
During restoration they reputedly found an 1863 shilling and an 1873 penny. They also named several of the rooms after their dogs: Roxy, Pinot, Daisy, Blossom and Molly.
Their Matilda Meadow winery, acqured in the late 1980s, undewent refurbishment and was rechristened Rockcliffe by new owner in 2001 Steve Hall, a geologist.
The home includes classic original features, such as timber and marble fireplaces, timber panelling, ceiling roses, wide skirting and architraves and leadlighting.
An original meat safe is still in the kitchen wing, which the listing notes could be turned into a cellar, being naturally cool in the sandstone section.
The library, where the Queen's visit is commemorated, has an original fireplace, builty-in bookshelves and cabinets (recent additions), french doors and a corner box window.
Outside the property there is a chicken coop, a 150 year old Magnolia Grande tree, fruit trees inluding apricot, pear, cherry, nectarine, cherry plum, plum, mulberry, quince, lemon, greengage and apple.
RP Data notes that the property has been on the market since March, however the price has not budged.
The Huon Valley has previously been on Property Observer's radar as <a target="_blank" href="https://www.propertyobserver.com.au/residential/affordability-could-draw-investors-to-tasmania/2011090651232">somewhere that affordability-driven investors might consider</a>.
The owners of Clifton, who have contacted Property Observer, note that they are relocating so cannot keep the property, however expressed their love for the home through the years.
jduke@propertyobserver.com.au
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'Clifton', the Tasmanian beauty that had Her Majesty the Queen visiting

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On 3,300 square metres of riverfront land, <a target="_blank" href="https://www.realestate.com.au/property-house-tas-richmond-115107415">Tasmania's Yew Tree Cottage</a> is given this name as it is right near Australia's oldest Yew tree.
In Richmond, 52 St Johns Circle is a cottage with a history. The lower level, solid convict brick and sandstone, originally formed part of the convent beneath St John's Catholic Church circa 1836.
Since renovated and updated, it has four bedrooms, two bathrooms and four car spaces and is on the market asking for $895,000 plus.
{yoogallery src=[images/stories/2013/12/19/tassie/gallery]}
RP Data records show that its last sale was for $1,055,000 in 2007. It has previously been on the market from 2009 to 2011 for $1,000,000.
It was listed for rent at $500 per week in November 2011.
It has a glass conservatory, clear in the pictures, and views of gardens and Coal River.
<img alt="floorplan1" src="/images/stories/2013/12/19/tassie/floorplan1.jpg" height="378" width="470">
It was previously base to FlyLife Publishing, publisher for the fly-fishing print and online quarterly journal FlyLife. The journal is edited and published by Rob Sloane, with subscriptions handled by his wife, Libby. They are now based at 45 Bridge Street, Richmond.
Sloane is the author of a number of books, including Fly Fishing Fundamentals and The Truth About Trout, as well as editor on a number of titles such as Short Casts and Fifty Places to Fish Before You Die.
He has previously worked in research and management around Tasmanian fisheries, as well as spending six years as the Commissioner of Inland Fisheries.
Penguin Books Australia notes that he has done much to encourage Australian trout-fishing writers and fishing guides. His focus has largely been on trout fishing and saltwater fly-fishing in recent times.
The listing notes the river has good trout for keen fishers, and has images of the river and a kayak.
For fishing and property enthusiasts, Sloane notes on FlyLife’s websites that his favourite trout waters include the Monaro streams, rivers of north-east Victoria and the Western Lakes in his “home state” of Tasmania.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Fly-fishing author's cottage, next to oldest Yew Tree in Australia, listed

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New changes to the State Environmental Planning Policy (Expempt and Complying Development) are set to make renovations easier, according to New South Wales Planning and Infrastructure Minister, Brad Hazzard.
After two years of consultation, up to $7,000 will be saved on the cost of building a new home by getting approval as a complying development, said Hazzard.
“They will give homeowners and businesses faster, simpler approvals for low-impact developments such as building or renovating a home or business," he said.
“This will help streamline the delivery of new housing, create jobs and deliver more certainty in the planning process.”
These changes also impact on businesses, which are now able to open 24 hours in the two weeks leading up to Christmas 2014, without requiring planning approval. This will only be in business zones where residents are not affected.
For homeowners, it will make it easier to:
- Install aerials and antennas
- Build fences, driveways and paths
- Get fast-track approvals for single storey backayrd studios
- Get fast-track approvals for home food production businesses
Fast track approvals are also going to be expanded to included homes and home extensions partially built to one side boundary. This will be for lots between eight and 12.5 metres. Currently it is between eight and 10 metres.
Commercial building alterations will also have red tape cut, including internal changes and erecting of signage.
If you're a neighbour within a 20 metre radius of a complying development proposal, you will need to be given 14 days before the application is approved, and then seven days before construction stards (previously it was two).
Privacy rules will be increased, with screens required for balconies and windows overlooking neighbours.
NSW executive director of the Property Council of Australia, Glenn Byres, agreed with the changes and the red tape reduction to lower the time and costs faced by property owners and buyers.
“Residents shouldn’t have to jump through major planning hurdles if what they are doing is low-impact and doesn’t affect neighbours," said Byres.
“Roughly a third of regular development applications are for minor developments worth less than $25,000 – showing that there is room for significant improvements in this area," he said.
For more information, see the <a target="_blank" href="https://www.planning.nsw.gov.au/exemptandcomplying">Planning website regarding Expempt and Complying developments</a>. 
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Small renovations and home building to become easier: Brad Hazzard

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The fourth stage of Wentworth Point Marinas' development site has seen the design begin, with architects Scott Carver creating the offivial plans. Pre-launch sales for the third block, Regatta, were strong. This fourth residential block is called Point Marinas and is a mixed-use development including a 20 storey tower and an eight storey pedium. This fourth stage includes 350 apartments, retail units and a community precinct. Another three blocks, in six stages, and a foreshore park, will be delivered in the masterplan. The entire development will house 5,000 residents by 2020.
<img alt="flicker4story" height="727" width="470" src="/images/stories/2013/12/19/flicker4/flicker4story.jpg"> In order to connect all of the residential buildings, activated street frontage has been focused on by the architects. “This is the most interesting stage to date, because it is in the centre of the 11-hectare Wentworth Point Marinas site and incorporates a retail component,” said director of Scott Carver, Bob Perry. The architecture firm has been working with Billbergia Developments on this project for almost 10 years. An alliance of the property owners has been created to finance and construct a footbridge through a Voluntary Planning Agreement with the New South Wales Government. This bridge, for pedestrians, buses and emergency vehicles, connects the residents to the retail, ferry and rail facilities at Rhodes. With a further three blocks split into six stages in the masterplan plus a foreshore park, the total development by Billbergia will ultimately be home to over 5,000 residents by 2020. The image above is of stage three, Regatta.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Wentworth Point's 5,000 residents by 2020 plan sees fourth stage designed

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The City of Perth Council has responded to a Department of Planning discussion paper by asking that affordable housing be considered an essential basic infrastructure to be provided by the State Government.
In their submission, the council noted that affordable housing was vital to the social and economic wellbeing of the city and that government intervention on a continued and sustained basis is a necessary step.
Lord Mayor Lisa Scaffidi noted that the Planning Provisions For Affordable Housing discussion paper has been welcomed by the council, and that they have support for the proposal that local governments use a mix of planning measures to facilitate development for affordable dwellings.
“There is clear evidence that housing affordability problems are persistent and worsening in Western Australia,” Scaffidi said.
“Analysis of the 2011 Census indicates higher levels of rental and mortgage stress in both low and moderate income households."
She noted that the council has been promoting affordable housing, having developed a 48-unit complex in Goderich Street, East Perth. It opened earlier this year, and is fully tenanted at 80% of the market rate.
“We now encourage the WA Planning Commission to consider having a higher proportion of affordable housing on State Government-owned land over and above the current 15 per cent," she said.
Higher densities and greater diversity through strategies such as infill, strategic areas and fringe areas, would assist in the delivery of affordable dwellings, she said.
The council has already changed the City Planning Scheme to increase the density in an attempt to start working on this shift.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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City of Perth backs affordability for property

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A $10,200 penalty has been paid by SMSF Property Capital Pty Ltd, to comply with an infringement notice from ASIC, after the company presented potentially misleading statements referring to 'ASIC approved' financial products.
The payment of the notice is not taken as an admission of liability.
Deputy chairman for ASIC, Peter Kell, said that this should be taken as a warning to anyone advertising financial products.
"It is crucial that consumers are not misled about the level of risk associated with any investment," Kell said.
"ASIC takes the misuse of language such as 'ASIC endorsed' or 'ASIC approved' very seriously, especially in the area of SMSFs. Creating a false impression of the level of regulatory approval for investments can lead to consumers making poor decisions," he said.
Queensland-based SMSF Property Capital had acted quickly to remove the statements from its website after ASIC approached them.
The representations included in the infringment notice were said to include the following on webpage smsfproperty.net.au around August 2013.
"SMSF Property Advisers has a pipeline of management property investments through Australian Securities and Investments Commission approved schemes."
"By partnering with many other SMSF investors in an ASIC approved managed fund our clients receive the significant benefits of a development project achieved without carrying any bank debt."
"Using an Australian Securities and Investments Commission (ASIC) approved structure, we give our clients access to developer profit margins, relatively short turn-around investment returns, and developments without debt."
If SMSF Property Capital did not comply with <a target="_blank" href="https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/B661581.pdf/%24file/B661581.pdf">the ASIC infringement notice</a>, they may have had to pay up to $1.7 million maximum for the alleged contravention.
Online advertising has been a focus of ASIC lately, with <a href="https://www.propertyobserver.com.au/finance/asic-penalises-mortgage-choice-for-claims-of-saving-customers-%2410k-over-five-years/2013112766653" target="_blank">Mortgage Choice</a><a target="_blank" href="https://www.propertyobserver.com.au/finance/asic-penalises-mortgage-choice-for-claims-of-saving-customers-%2410k-over-five-years/2013112766653"> recently being fined</a> and <a target="_blank" href="https://www.propertyobserver.com.au/finance/myrate-makes-changes-in-response-to-asic-concerns/2013120966843">MyRate similarly responding to ASIC concerns</a>.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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SMSF Property Capital pays penalty over 'ASIC approved' statements

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ASIC has permanently banned Victoria-based Clestus Remegius Weerappah, former director of Dollarforce Financial Services, from providing any financial services after he was convicted of serious fraud offences surrounding three property developments.
Dollarforce, collapsed in 2009 with a $24 million deficiency, lost investors more than $8 million collectively.
Weerappah, 48, Oakleigh Victoria, has pleaded guilty in the Victorian Count Court.
He pleaded guilty to using his position dishonestly with the intention of gaining an advantage by misleading investors into the following purchases and developments (he was a director of all three):
- $1,200,000 for the Ivory Property Group
- $1,780,000 for My Building No. 1 Pty Ltd
- $1,286,950 for Bennett Street Developments
He has also had a guilty plea for one charge of falsifying a document lodged with ASIC concerning a $2,955,000 loan that had been forgiven by the company and one charge of falsifying books relating to Altitude Property Number 1 Pty Ltd in regards to the sale of a Balwyn Property for $1,300,000.
Weerappah will serve two years before he is eligible for parole, and has been ordered to repay $3.7 million to some investors.
He does have the right to appeal to the Administrative Appeals Tribunal for a review of the decision.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Two years imprisonment after investors misled over property developments: ASIC

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The CEO of LJ Hooker, Georg Chmiel, has resigned after 18 months, to take up an offer from iProperty Group, Asia's number one property portal site.
Chmiel will stay with LJ Hooker as the managing director for six months, as the board searches for a replacement CEO.
He was <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=11&amp;ved=0CF8QFjAK&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fappointments%2Flj-hooker-appoints-georg-chmiel-as-new-ceo&amp;ei=F_uwUqXQJomQiQe52ID4Bg&amp;usg=AFQjCNHWH5kBDuy9HMJ3eL7l093Ti2LiRw&amp;sig2=qdkwgxD_HoAFGQykZ8UkSQ&amp;bvm=bv.58187178,d.dGI">appointed as CEO in April 2012</a>, having previously joined LJ Hooker in 2010 as the chief operating officer. He took over as CEO from L. Janusz Hooker, who became deputy chair.
He has been a member of the Technology Committee of iProperty Group (ASX: IPP) and his <a target="_blank" href="https://www.linkedin.com/pub/georg-chmiel/2/9aa/b57">LinkedIn profile notes</a> he has been a non-executive director for iProperty for three years.
He was previously CFO and general manager - international at REA Group Ltd (ASX: REA), for a period of almost six years where the business reportedly grew from a market cap of $100 million to $1.6 billion.
Property Observer recently reported that <a target="_blank" href="https://www.propertyobserver.com.au/news/rea-group-ceo-greg-ellis-resigns/2013121666970?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">REA Group CEO, Greg Ellis, has also resigned</a>.
Chmiel holds an MBA, a Computer Science degree, and is a CPA (USA).
He was integral in seeing a recent industry first, where L J Hooker announced they were introducing a dedicated China concierge with Chinese and English fluent Jessie Zhong.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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LJ Hooker CEO resigns to take top job at Asian property portal site

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

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

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

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

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

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

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