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Victoria’s four commercial trading ports in Melbourne, Geelong, Hastings and Portland are facing new planning rules that disallow accommodation within the Port Zone.
The newly approved planning zones for Victoria’s major ports, announced by Planning Minister Matthew Guy, have been introduced to create a buffer between port operations and uses in adjoining areas.
“Our ports are handling increasing freight volumes and have great opportunities to grow operations, and we need to balance the importance of protecting port operations with managing their potential impact on surrounding areas,” Guy said.
These changes will mean that port managers will not have to apply for planning permits for buildings and structures associated with the port, including wharves and warehouses. They will, however, still be required to comply with provisions of the relevant planning scheme.
Accommodation, including caretakers’ houses, will not be permitted on port land as it is deemed “sensitive use”.
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New zoning disallows accommodation for Victoria’s major ports

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With first home buyer grants across the country now redirected towards new homes, Tasmania has taken it a step further than any other state or territory, offering $30,000 to quickly push up new home building activity.
With RP Data citing the median dwelling price in Hobart at $300,000, this is a subtantial portion on offer from the government, having previously been half this amount at $15,000.
Premier Lara Giddings, in announcing the new stimulus at a jobs forum, said that it is effective immediately, after a slower take up than expected of the previous grant of $8,000 under the First Home Builder Boost plus the $7,000 inital grant. The new incentive is $23,000 plus the $7,000 initial grant.
“The average cost of constructing a first home in Tasmania was around $234,000 in 2012-13 and this grant will make building an even more attractive proposition," Giddings said.
“Builders have told us that there has been a lot of interest from people wanting to build their first home, but they needed more time to accumulate a deposit," she said.
“That is why we have taken the decision to turbo-charge the incentive for people to build their first home, effectively paying the cost of a deposit on an average new home build."
She pointed to record low interest rates, affordable house and land packages, and a ramped up incentive as pointing to no better time to buy.
“I would encourage anyone who has been thinking about building or even buying a new home off the plan to think seriously about taking advantage of this offer," she said.
“Tasmania already offers a lifestyle that is second to none and it is now amongst the cheapest places in the country to realise the great Australian dream of building a new home," she continued.
The scheme, starting on November 7, will continue through until December 2014 with costs coming from the $24.5 million Tasmanian Jobs Package.
Since the announcement, Giddings has said that strong interest has already been reported.
Today, in a release regarding ABS figures around housing finance on the rise for first home buyers, she said this should further underpin the increase.
“It is pleasing to see an 18% annual increase the number of loans to first home buyers, proving that there is no better place in Australia to realise the dream of home ownership," Giddings said. “The supercharged $30,000 First Home Builders Boost will give a further adrenalin shot to the property sector while creating much needed jobs and activity in the building industry.”
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$30,000 leg up in Tasmania offered to first time buyers

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The Planning Institute Australia has awarded Queensland’s State Assessment and Referral Agency (SARA) with the 2013 Improving Planning Processes and Practices Award.
SARA, launched on July 1, 2013, was created to centralize state referrals and to streamline development application assessments in a ‘one-stop-shop’ approach.
More than 1,100 applications have been lodged through the new system.
The new system has implications for commercial premises development also, explained Minister for State Development and Infrastructure, Jeff Seeney.
“A beverage company, for example, which had sought a new site to expand its operations, had to consult with and obtain approval from five different agencies on a range of matters from waterways and native vegetation to the project’s impact on state transport infrastructure,” Seeney said.
“Now such companies will only have to obtain approval from one agency – a win for common sense.”
Planning Institute Australia’s state president, Kate Isles, said that cost and time inefficiencies for development applications had now been addressed.
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Queensland state planning’s one-stop-shop awarded

<html><body>The latest housing figures for the Illawarra, released today, have revealed that a 10-year decline in supply in the region has been reversed. The New South Wales government's housing figures have found that supply is on the increase again in the area, which may put downward pressure on prices. Minister for Planning and Infrastructure, Brad Hazzard, in releasing the latest trends in the Metropolitan Development Program monthly monitor said that this should be a boost for the local area. “This is also good news for the region’s economy, as more homes under construction means more local jobs for tradies and less people having to commute to Sydney for work.” Housing completions increased from 820 in 2011/2012 to 1,192 in 2012/2013, a jump of 45%. Approvals also increased by 16% over the period. This trend is expected to continue, with the number of dwellings completed looking to reach an average of 1,499 per year to 2016/2017.</body></html>

Illawara house prices to soften as 10-year supply decline reverses

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The number of properties being passed in at weekend auction on a vendor bid is on the decline, according to the Real Estate Institute of Victoria’s (REIV) CEO Enzo Raimondo.
Looking at statistics over the year, Raimondo said that this year 16% of properties had passed in on a vendor bid, compared to 26% last year.
He noted that this decline suggests that there has been more bidding activity from potential buyers, as opposed to auctioneers announcing a vendor bid to get things moving.
“By law, the auctioneer must announce when a vendor bid is being made,” said Raimondo.
“There is clearly an increase in the level of open competition at auctions lately and this can be measured not just through the clearance rate but also in the way the property passed in,” he concluded.
Currently, this year is recording a clearance rate of 72%, with the remainder passed in or passed in on a vendor bid.
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Passing in on a vendor bid on the decline: REIV

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For property managers, landlords, and short-term rental owners, schoolies can understandably be a significant time of stress with young high-school grads likely resident in your properties, particularly around coastal and holiday areas.
Recently, schoolies <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/schoolies-warned-not-to-trash-apartments/2013101465683">have been warned not to trash apartments</a>, and while it can be a nervous time, much damage can easily be avoided with some simple risk mitigation and ground rules, according to Archers Body Corporate Management senior body corporate manager Michael Ryall.  
“To assist with preventing any misbehaviour or tragic events unit owners should revisit their behaviour management plan and schoolies ‘House Rules’ now,” said Ryall, noting the majority of graduates are actually well behaved.  
Sending the rules to school leavers early, to ensure they understand expectations, can be a quick and easy way to stamp out any issues.  
“A body corporate has control over the common property but cannot independently take action such as locking doors to restrict access to areas within a single lot,” he said.  
“If owners are looking to lock balcony doors they should discuss this with the resident managers of their buildings.”  
With many schoolies concerned about getting their bond money returned, he said that it’s unlikely trouble will occur, however resident managers on site should be enforcing the house rules.
He suggested some of the following guidelines: 
<ul>
<li>No glass bottles in the room or pool area (bag checks can be carried out by onsite security)</li>
<li>Maximum of two external guests permitted to the room at any time, with identification held at reception (this restricts likelihood of parties)</li>
<li>Noise must be kept to a minimum</li>
<li>Dangerous behaviour will be dealt with by police</li>
</ul>
“Any damage made to the room or contents during a stay will come out of the bond amount. If schoolies encounter problems, the best way to come to a resolution is to talk to the accommodation provider with respect,” he said.  
“Accommodation providers are required to have a complaint handling process and schoolies are entitled to lodge a written complaint if they feel that they have been treated unfairly.”  
Tips for schoolies looking to get their bond back:   
<ul>
<li>Obtain a receipt, find out when the money will be paid back and how any potential disputes will be resolved</li>
<li>Become very familiar with your house rules and responsibilities under the accommodation’s booking conditions and make sure you and your friends abide by them</li>
<li>Inspect the room very well as soon as you arrive and report any damage as soon as possible. Take photos of any damage or marks so you have a record</li>
<li>Be present and attentive during the check-out inspection and talk to the accommodation provider about the final report</li>
</ul>
Source: Archers Body Corporate Management  
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Schoolies are on their way to a rental near you: Risk mitigation tips

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Properties under $350,000 hold something of a special place in many investors' hearts, and are often those that form the basis of stories about investors facing off against first home buyers. Homes in a lower price bracket also mean that investors may have some extra dollars leftover for substantial renovations.
However, what is marketed as a renovator's dream, may also just as likely be a renovator's nightmare. Property Observer delved into current online listings to find five properties from around the country that have been marketed as a renovator's dream property for under $350,000.
Which of these would you want to renovate? 
1) <a href="https://andrewmcmath.com.au/real-estate/property/679330/for-sale/house/vic/seville-east-3139/39-old-warburton-highway/" target="_blank">39 Old Warburton Highway, Seville East, Victoria</a>
{yoogallery src=[images/stories/2013/11/11/nov11renoflickr/warburton]}
Said to be a project with 'huge potential', a large 2,300 square metre block and with a big deck and beautiful views, it appears the bones may already be in place.
With three bedrooms, two bathrooms and two car spots, it's being advertised as $300,000 to $330,000. The master bedroom has an ensuite and outside access.
<img width="470" height="560" alt="warburtonfloorplan470" src="/images/stories/2013/11/11/nov11renoflickr/warburtonfloorplan470.jpg">
2) <a href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-eungai+creek-114957935" target="_blank">Unspecified address, Eungai Creek, New South Wales</a>
{yoogallery src=[images/stories/2013/11/11/nov11renoflickr/eungai]}
Listed at $239,000, this two storey cedar cottage with two bedrooms and one bathroom looks like a quaint holiday escape. Sitting on 2.06 hectares, it comes with a solar power system, including solar hot water and gas.
A large shed, that could be used as a teenager's retreat, and a 34,000 litre water tank system is also included.
See Page Two for more properties
 
<hr class="system-pagebreak">
 
3) <a href="https://www.professionalsgympie.com.au/real-estate/property/685181/house/qld/gympie-4570/3-tweed-lane/" target="_blank">3 Tweed Lane, Gympie, Queensland</a>
{yoogallery src=[images/stories/2013/11/11/nov11renoflickr/gympie]} 
For $185,000, the listing explains that the Queenslander-style home is a three-bedroom one-bathroon home on 1,335 square metres of land.
The kitchen and bathroom have already been modernised, and it features a covered deck, 10 solar panels and two street frontages.
4) <a href="https://www.portadelaideprofessionals.com.au/real-estate/property/656437/house/sa/taperoo-5017/9-gertrude-street/" target="_blank">9 Gertrude Street, Taperoo, South Australia</a>
{yoogallery src=[images/stories/2013/11/11/nov11renoflickr/taperoo]}
At $305,000 this South Australian three-bedroom one-bathroom house is a deceased estate with a lock up garage on the side of the property. It also has redevelopment potential, the listing explains.
<img width="470" height="433" alt="taperoofloorplan470" src="/images/stories/2013/11/11/nov11renoflickr/taperoofloorplan470.jpg">
5)<a href="https://www.barrandstandley.com.au/view-property.php?id=ZPCAFD_1_6942" target="_blank"> 22A Halsey Street, South Bunbury, Western Australia </a>
{yoogallery src=[images/stories/2013/11/11/nov11renoflickr/bunbury]}
Offers over $279,000 are asked for this high ceilinged three-bedroom one-bathroom home on a 363 square metre block. Built in 1928, it has 'other features' noted as a renovator's dream, with a loft ladder and 'ornate ceilings'.
It's close to the beach, and is the "perfect investment or affordable first home" the listing reads.
 
{module Which of these properties would you most like to renovate?} 
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Five renovator's dream homes for under $350,000

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A 20 hectare Adelaide Hills lifestyle estate with two titles, Manyara, has <a href="https://rca.colliers.com.au/property-commercial+farming-sa-balhannah-500937075" target="_blank">come onto the market</a>, including an eight hectare vineyard, a modern wine storage facility and a purpose-built wine cellar in Balhannah, within the Adelaide Hills Wine Region.
Colliers International’s Tim Altsschwager, Jesse Manuel and Nick Dean, have been appointed by the Lipman family to sell the property.
Established in 1995 <a href="https://www.manyaravineyard.com.au/" target="_blank">by the extended Lipman family</a>, including Munros, Herzbergs and Forwoods it is at an altitude of 350 metres and includes a tenanted three bedroom gatehouse and stable flat.
{yoogallery src=[images/stories/2013/11/11/nov11manyara]}
“Manyara was developed by the Lipman family in the 1960s and has been meticulously maintained,” Manuel said of the 380 and 384 Onkaparinga Valley Road, Balhannah property.
“There is an imposing two-storey homestead in an elevated botanic setting, overlooking a private lake, along with a three-bedroom gatehouse and a stable flat, both of which are currently tenanted.”
The eight hectare vineyard includes Sauvignon Blanc, Chardonnay and Pinot Noir grape varieties, and comes with a swimming pool, tennis court and rainwater storage.
Previously, Manyara was a thoroughbred horse resting and pre-training establishment which was home to famous horses including Deyana, Leilani, Golden Black and Think Big. A training track, round yard and extensive stabling is still on site as a result.
Manyara adjoins producer Shaw and Smith.
“Manyara’s vineyards produce the highest quality Hills wine,” Altschwager said, pointing to its chardonnay being supplied to Penfolds for its Yattama label. Winestate Magazine gave the Manyara 2010 Chardonnay four stars earlier this year.
The property is being sold by expression of interest, with offers closing December 10 at 4pm.</body></html>

One of Adelaide Hills’ finest, Manyara, hits market

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Property cycles go from hot to cold and back again, and at the moment interest in property is at a high. This means that we're seeing some trying to take advantage of market conditions.
We live in a culture of victim blaming, and property is not kept separate from this. In the property industry, opinions and advice are everywhere. Some of this advice is dodgy, and some of these dodgy operators are harder to pinpoint than others.
Regularly, when someone gets scammed, or takes bad advice, we're told they must have been "stupid" or "lazy". But it's worth remembering that it's not just those who don't undertake due diligence, or who "should've known better" that can get tripped up. It's also worth being aware that not everyone was brought up in a household where property investing was a 'thing' or where they were even exposed to a property being bought or sold once - I know many people who have bunkered down from when their children were born until their children moved out.
It's also worth remembering that people can be strangely trusting. That unless the dodgy agent, or broker, or whoever, shows up in a melodramatic black cape, with slicked-back hair and a Dr. Evil cat, it sometimes never occurs to them that this person could be doing anything other than what they claim to be doing on the box. We have to remember that while some do get ripped off unnecessarily (yes, they should have known better), regularly investors are time poor individuals like the rest of the country – with families, jobs, hobbies and commitments.
Search the words 'fraud', 'scam', 'illegal' and other buzz words via our search engine and you'll no doubt come up with countless examples on Property Observer alone, and search Google and you’ll find even more.
Picking the low hanging fruit 
The best way to protect yourself is to change your personal mantra. Many people are trusting of those they come into contact to, however it's perhaps best to consider 'Guilty until proven innocent' when undertaking your research into individuals. With this in mind, consider everything to be a potential scam when you first see it. Those with the more obvious traits will quickly reveal themselves.
The first way to find out whether or not to deal with someone suggesting their advice to you is to <a target="_blank" href="https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with">head onto Money Smart</a>. The government has, handily, provided a list of "companies you should not deal with" - which is a fairly easy way to rule out the more notorious.
These are companies who have been soliciting investment business and do not hold an Australian Financial Services (AFS) or Australian credit licences from ASIC. Consider subscribing to ASIC alerts. However, as property is not considered a 'financial product' it's a little harder to quickly rule out a number of different operators.
You then want to find out if anyone else has done the hard work, and outed them as a scammer, spruiker or otherwise. Be aware of vested interests, particularly from those posting anonymously in comments or on forums (who could be competitors), but keep your ears open. The best scams are regularly masquerading as decent opportunities, and the most dangerous are those that purport to be on your side, bringing your guard down.
Never assume that a good looking website, the fact they have aligned themselves with a spokesperson of decent repute, or a well put together appearance, makes them more trustworthy than anyone else.
Property Observer's personal rules. Be wary if:
- The advertisements tell you that you need little to no money, and little to no borrowing capacity.
- It's said to be extremely low risk or 100% risk free. No investment is risk free.
- You are told you can get rich quickly, or with little effort. Usually the opposite is true with property.
- You are offered a 'one stop shop' and encouraged not to seek any external advice (particularly around legal advice).
- You are told that "anyone" can do it. This is simply not true.
- They call themselves "Australia's best" or similar without providing any source. Who said this? Was there an award? What did they need to do to attain this title?
While none of these rules guarantees that anything untoward is occurring, you should immediately be on your guard.
Then you need to be asking questions. However, it's not just about asking the right questions, but also testing the responses. The testing part is one many investors regularly forget to do. A common one, for instance: Do they really own $10 million worth of property, or is it $9 million worth of loans and $1 million of equity they're sitting on? How can you be sure?
And, if you need to fall back on it, there's always the simple "too good to be true" test.
One thing we'll be doing is continually covering when there has been bad advice, and how to spot it before you make the wrong mistake. We'll also look into just what to do if you have found yourself victim to untoward activity.
 
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Letter from the editor: Scam watching

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While Property Observer previously reported about <a target="_blank" href="/news">the Big Four upping their rates on certain fixed products</a>, it appears that new data shows a number of lenders upping their fixed home loan rates under the radar of many.
As investors wonder if they should be fixing soon or risk missing the bottom of the rate cutting cycle, RateCity's latest data pointing to 85 lenders increasing the fixed rates since early October, has CEO Alex Parsons saying they've missed it already.
Longer term fixed rates, such as five year terms, were the first to be adjusted upwards, with shorter terms now following the pattern, said Parsons.
“Fixed rates appear to have bottomed out and are now starting to rise, with 85 lenders increasing some of their fixed rates in the past month,” he said.
“We know fixed rates usually start to rise well before variable rates, and borrowers often miss the lowest point. After all, the banks have a far better chance of predicting future rate movements than the average borrower.”
With fixed rates still below the long-term average, he said that there are still opportunities for those looking to fix soon, with data pointing to a three-year fixed rate average of 5.09%, but possibilities of rates as low as 4.69%, and down to 4.29% for one-year terms. The historic average of three-year fixed rates is 6.94%.
“Fixed rates are starting to go up and it’s likely they will continue to do so. But there is no guarantee they will continue on an extended upward trend – it’s always a bet between you and bank,” said Parsons.
“People often fix their interest rates out of panic; in the lead up to the GFC, fixing got progressively more popular as rates increased, to the point where one quarter of new loans were fixed at over 9% in March 2008.”
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Investors warned: 85 lenders have upped fixed rates

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

Joel Robinson

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

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

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&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."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<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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