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Marketed as the 'Neighbours House' at 3 Pin Oak Court, also seen as Ramsay Street in Neighbours, snapped up $127,000 over reserve price, and has been the property integral in winning a real estate marketing award.
You may know the property better as <a href="/news">'30 Ramsay Street' or home to Toadfish 'Toadie' Rebecchi</a>. It is a four-bedroom, two-bathroom and three-car spot property in Vermont South.
Winning the Residential Marketing Award, with a budget between $2,000 and $10,000, Barry Plant Monash Group said they had a marketing budget of $7,000.
Organiser of the campaign, general manager of Barry Plant Monash Group, Mitch Palmer, said that it added a significant amount more value than the outlay.
“The marketing budget for this campaign was just over $7,000 but I believe that with all the media attention and publicity generated, the campaign was worth in excess of $50,000," Palmer said.
“The proof that our campaign reached its target market is that the buyer was actually a UK based investor, a passionate Neighbours fan, who now owns two houses on ‘Ramsay Street’.”
It was advertised as "Your chance to own a piece of Australian television history!"
"Wise families and astute investors alike will also be interested in the significant returns on offer from Fremantle Media," the listing read.
The property sold at auction in February, to a crowd of more than 300 people, with eight competitive bidders.
The buyer paid $867,000 for the 747 square metre property. It had a $740,000 reserve. The median price currently listed by RP Data for <a href="/news">houses in Vermont South</a> is $669,000.
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jduke-EHk3XBmHkn

Neighbours' Ramsay Street home sells $127,000 over reserve, wins award

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Strata-title properties in tropical Queensland should undergo regular engineering inspections to ensure they are resistant to extreme weather events, according to an independent study by James Cook University's Cyclone Testing Station.
A three month study, commissioned by the Insurance Council of Australia (ICA) was developed to focus on assisting strata owners in Far North Queensland, and analysed policies active in 2010 and 2011, as well as claims associated with Cyclone Yasi.
Recommendations of the study included engineering-based inspections every seven to 10 years, awareness development around appropriate maintenance (including well-maintained cladding, additional bolts and locks, etc) and a new study about water ingress from wind driven rain.
ICA CEO, Rob Whelan, said that the study found the age of a property had less influence than other factors, when looking at the impact of a cyclone on a building.
Surprisingly, water ingress from wind-driven rain and the compounding effect that damage from items such as television aerials and fences could have, were seen to be more damaging.
“The combination of high winds and driving rains typical of cyclones mean that water can find its way through doors and windows, while damage to a TV aerial or to guttering can leave a roof exposed to water and further damage to the interior of a property,” Whelan said.
More than 80% of analysed claims saw some damage due to water ingress. Multi-storey buildings were seen to have a higher incidence of claims, and higher costs, than low-rise.
Where the risks of cyclones are higher, this is generally reflected in higher insurance premiums, said Whelan.
“However, the ICA and the insurance industry are committed to working with governments and communities to reduce these risks where possible," he said.
In the past 20 years, the ICA has declared 12 cyclones as catastrophes, with these causing combined insured losses of $2.32 billion. The biggest event, Cyclone Yasi in 2011, caused $1.4 billion in insurance losses. Damage caused by ex-Cyclone Oswald in 2013 caused a further $1.1 billion in losses in Queensland and New South Wales.
The <a target="_blank" href="https://www.insurancecouncil.com.au/assets/report/Independent%20strata%20study.pdf">full report is available online</a>.
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Reducing Queensland cyclone insurance premiums: Independent strata study

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A median price value will only get you so far when you're judging the true worth of a property, and there are individual factors in each home that determine how much you should pay for it, or expect it to sell for.
It's particularly useful to familiarise yourself with the process as it should enable you to spot the better deals more quickly.
Firstly in this series, let's have a brief look at how the experts approach figuring out an individual property's value. Remember, no matter who the expert is, you'll want to see evidence of their reasoning and the number they provide in black and white.
This article relates to existing property. Stay tuned for how to assess the value of an off-the-plan property.
Valuers
When thinking about valuations, it makes sense that the first thing we often think about are valuers. However, not all valuations are equal and it's commonly said that it's not an 'exact science'.
While you'll be paying for an independent valuation yourself if you feel it's necessary, it may just be worthwhile if you're doing your checks and balances before purchasing. Observer Cameron McEvoy previously provided these <a href="https://www.propertyobserver.com.au/residential/five-great-reasons-to-get-an-independent-valuation-cameron-mcevoy/2013041860506" target="_blank">five reasons to get an independent valuation</a>.
If you're unsure what information you'll find in a valuation, this PDF download of a <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=2&amp;ved=0CEwQFjAB&amp;url=http%3A%2F%2Fwww.myrp.com.au%2Fservlet%2FsampleReportSampleFileUploader%3Fop%3DdownloadSampleReportFile%26sampleReport%3D7&amp;ei=oM9uUpuCJ4SplQWekoCgBQ&amp;usg=AFQjCNGQxc2MXDH1fwF7PkqmdVs_qosNVw&amp;sig2=C2FL4qDbcI2DGJvvPGJJ3Q&amp;bvm=bv.55123115,bs.1,d.dGI" target="_blank">long form example from RP Data of what a valuation may look like</a>, and the useful information that you can glean from it, is a great one to sink your teeth into. Having an independent assessor back up, or query, your assumptions and personal analysis can be critical.
RP Data lists four different types of valuation that you'll want to understand:
Full valuation
Short form or pro forma valuation
Restricted valuation (to include “restricted assessment”, “kerbside” and “drive by” valuations)
Desktop (to include electronic valuer review - EVR)
For a detailed analysis into these different forms of valuation, RP Data's white paper '<a href="https://www.rpdata.com/images/stories/content/brochures/rpd_valuation_white_paper_mar10.pdf" target="_blank">Comparing the quality of property valuation methodologies</a>' is worth a read. Essentially, as you go down the list, the rigorous nature of the valuation decreases. A full valuation requires a valuer to walk through your property, and take photos, to provide a detailed report. A desktop is just that, it requires them looking on a computer.
What do valuers use to come up with this price?
Recent comparable sales is the key part of this process, according to RP Data.
"Sales comparison is the most common approach to residential property valuation by valuers and is also very frequently used by AVMs. The concept behind the comparison approach is one of substitution: a reasonable buyer will pay no more than the value of a comparable good and a reasonable seller will sell for no less than the value of a comparable good," the paper notes.
This is the superior versus inferior test, and for those with an emotional stake in the property it can be hard to judge this clearly. We'll be delving into this later in the series.
To assess a property’s value, a valuer must inspect the property, record details on the number and type of rooms, along with fixtures, fittings and any improvements, observer Michael Matusik explains in his <a href="https://www.propertyobserver.com.au/residential/property-valuation-101/2012022153484" target="_blank">property valuation 101</a>.  A property’s unique attributes will also be taken into account, such as:
- Location
- Building structure and its condition
- Standard of presentation and fit-out
- Standard of fixtures, fittings and facilities
- Zoning and whether and planning restrictions apply
Valuers tend to come under a lot of flack from the industry. Whether this is rightly so or not is largely debatable, however one of the more common criticisms from the investment space is that valuers are 'conservative'.
For those interested in what it takes to become a valuer, this <a href="https://jobguide.thegoodguides.com.au/occupation/Valuer/NSW" target="_blank">job guide explains more</a>.  Or, you can see the modules involved in one pathway into becoming a valuer - through a <a href="https://www.sydneytafe.edu.au/coursefinder//27872#link0" target="_blank">Property Services - Valuation Course advanced diploma </a>with TAFE.
If you're looking to get the most from a valuer, here are some tips:
- Provide them a list of comparable sales (potentially inside the same project, as well as some that are not). While not all valuers will use them, some will.
- Apply for finance six months before completion, not six days and if you find the valuation comes in low it gives you time to get a third and a fourth.
- Attain your own valuation, using a valuer that is on your bank's panel of valuers.
- Ask to see a soft valuation so you can check the comparables used and the comments made.
- Bear in mind that the valuer often has a different valuation for mortgage purposes as opposed to sale purposes.
- Do your research beforehand.  Go out and look at 100 or even 10 before you make a purchase decision. If you've done your research you should be confident it will value up.
Source: CPM Realty
Real estate agents
Real estate agents provide what is known as an 'appraisal', rather than a valuation. When speaking to the more active agents in an area, you will be able to get information on comparable sales that may have only just sold - and are potentially more up to date than those provided as comparables by a valuer.
Local agents will also have an extremely intimate knowledge of the area, as well as the type of buyers and any current changes in interest. This will put you in good stead.
Be aware that if you are looking to purchase, an agent works for the vendor, not for you. For this reason, it's clear that they're likely going to tell you positives about a property and work to get you paying more. That's their job, afterall.
If, however, you're looking for them to put your property on the market, you'll want to be clear with them what they truly expect it can sell for and what they may be able to get for it with clever marketing. Many agents can also suggest smaller improvements that can be made for a better re-sale value.
We recently reported about <a href="https://www.propertyobserver.com.au/news/real-estate-agents-presenting-inappropriate-comparables/2013090964873" target="_blank">agents presenting inappropriate comparables</a>, so this is certainly a case of doing your due diligence. Do you really know if that property is comparable if you don't know the local area? Is it on a busy road you don't know about, or is the property on the good or bad side of a suburb?
While buyer's agents work for you, you'll still want to understand their reasoning behind the value they're suggesting.
Online portals 
While not an expert per se, online valuation methods are regularly turned to as a first-look quick and easy report. While these valuations can provide useful general information, remember that no one has walked through the property and factors that make it comparable or not comparable may have been lost in translation.
Previously, price estimates added to online listings portals, such as Domain.com.au, have been <a href="https://www.propertyobserver.com.au/residential/unders-and-overs-apm-s-askew-market-price-estimates-upsetting-domain-agents-listings-aplenty/2013021359339" target="_blank">famously out of sync with list prices</a>. EPS Property Search's Patrick Bright also explains that they don't take into account the size of the block, the shape of the block, the slope, and <a href="https://www.propertyobserver.com.au/industry-news/friday-feb-15-observer-why-you-should-not-rely-on-property-data-reports-patrick-bright/2013021459354" target="_blank">other fundamental aspects involved in truly assessing value</a>.
In our next articles, we'll have a look at whether that property you're looking at is truly comparable or not, what can make judging value difficult, and what to do if your valuation comes in soft.
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How much is my home worth? Judging a property's value

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On Friday, the Insurance Council of Australia (ICA) estimated losses at $138 million, with 1,011 claims lodged with insurers.
ICA CEO Rob Whelan said that home owners, when returning to their properties, needed to consider the advice of local authorities.
For instance, the community of Winmalee has been briefed on asbestos-related safety issues by Workcover.
"While claims lodgements have stabilised over the past couple of days, we expect these to begin climbing again as returning residents assess any property damage," Whelan said
"Insurance assessors have reviewed a number of properties with some policyholders already receiving payouts from their home or contents insurance,” he said.
"Assessors will continue this review process and also begin inspecting damage in areas not previously accessible.”
The ICA urges all property owners to lodge a claim as soon as possible, even if they are unaware  of the full extent their losses.
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Bushfire insurance claims estimate $138 million losses

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Digging out some of the UK Grand Designs properties of the past, PrimeLocationBlog asks whether or not they made a profit.
The <a target="_blank" href="https://blog.primelocation.com/2013/10/10/grand-designs-houses-did-they-make-a-profit/">results they came up with certainly looked impressive</a>, even though we'd have been keen to see some more the costs and numbers involved - such as marketing costs - rather than just the build costs.
For instance, one Bristol property, featured on Grand Designs in 2008, cost £350,000 to build (plus £425,000 for the land). PrimeLocationBlog says that the current asking price is £1,500,000.
<blockquote class="twitter-tweet">
We have tracked down some Grand Designs properties to find out how much theyare now worth - <a target="_blank" href="https://t.co/cYKjzEF6pq">https://t.co/cYKjzEF6pq</a>
— PrimeLocation (@PrimeLocation) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/PrimeLocation/statuses/394476329611296768">October 27, 2013</a>
</blockquote>
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Did the UK Grand Designs houses make a profit?

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Queensland's Blackwater East has had a Priority Development Area's (PDA) draft plan released for public consultation today, with proposals to provide 100 hectares for new properties.
Deputy Premier and Minister for State Development, Infrastructure and Planning, Jeff Seeney, said that this particular PDA was requested by the council.
"The Blackwater East Priority Development Area was requested by council and is an exciting proposal that may see people working in Blackwater able to purchase a home close to where they work," said Seeney.
Residents, those interested in the community and local businesses are able to view the proposed development scheme and make a written submission.
The public notification period extends from today until 6 December 2013.
The PDA calls for a mix of densities, types, designs, tenures and levels of affordability of housing.
It can <a href="https://www.dsdip.qld.gov.au/infrastructure-and-planning/blackwater-east" target="_blank">be viewed online</a>, with submissions made to the <a href="https://www.dsdip.qld.gov.au/resources/plan/pda/blackwater-east-proposed-development-scheme.pdf" target="_blank">Queensland department website here</a>.
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Blackwater East draft plan released today

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Planning Minister, Matthew Guy, has announced an independent assessment committee to provide recommendations for the East West Link's first stage.
Created to provide advice and recommendations on the impact assessment of Stage 1, Guy said that public submissions received during exhibition would be reviewed by the committee.
Formal public hearings will be conducted in early-2014.
"I am pleased to appoint the independent assessment committee members who bring an enormous amount of experience in transport and town planning, engineering, environmental science and urban design across a wide range of major projects," said Guy.
Detailed terms of reference regarding how the committee will consider traffic issues, urban design and environmental management have been approced by Guy.
"The composition of the committee is drawn from Planning Panels Victoria so members have firsthand experience of being involved in significant Panels and Advisory Committees and dealing with the assessment of major and complex projects."
The Comprehensive Impact Statement will be exhibited on 31 October 2013.
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East West Link independent assessment committee announced

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Federal Minister for Human Services Marise Payne alerted NSW Premier, Barry O'Farrell, that at least one landlord in the Lower Blue Mountains was seeking to increase their rental charge to take advantage of the bushfire crisis.
Due to the number of people who have lost their properties and will be seeking temporary accommodation, O'Farrell said that the landlord was hiking up their rent. He has warned landlords from doing the same.
“This sort of low act will not be tolerated and I warn people even thinking about it that the NSW government [will] come after you,” O’Farrell said.
“Anyone seeking to cash in on this crisis is a heartless grub. Just don’t do it,” he said.
“Not only will they named and shamed, they’ll face a fine of up to $220,000 or $1.1 million for corporations."
Minister for Fair Trading, Anthony Roberts, has ordered inspectors to be on the ground looking for "this behaviour".
“Whether you’re a landlord, tradesman, or retailer don’t try it on because it won’t be worth it," he said.
For tradespeople, it could also cause cancellations or suspensions of licences.
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"Heartless grub" landlord hiking rent for bushfire victims: O'Farrell

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The Western Australian government have sold 1,112 properties through the Opening Doors initiative over the past two years, having launched in September 2011.
As part of the government's Affordable Housing Strategy, Opening Doors delivers properties substantially below the median house price under a shared ownership scheme.
The median price of properties under this project is $293,000, which is around $200,000 below the current median of Perth.
Housing Minister, Bill Marmion, said that the government retained up to 30% equity in the property through the Department of Housing's shared ownership scheme, or sold with the purchaser acquiring 100%, depending on the situation.
Currently, 79% were sold through shared equity, however those looking for 100% ownership are increasing in numbers.
"Most people who purchase a home under the shared home ownership scheme pay less in monthly mortgage repayments than they would pay in rent for a similar home in the same suburb,” said Marmion.
"As of October 1, 2013, 1,112 properties have been sold through this initiative. The success in reaching this milestone in less than two years is a strong signal that the State Government is delivering quality housing at an affordable price," he said.
Properties ranged from one-bedroom units to four-bedroom houses and are located in suburbs throughout the Perth metropolitan area. Some regional towns are also home to these properties.
Marmion noted that the majority have been in the suburbs of West Perth, Mirrabooka, Fremantle, Cockburn Central, Butler, Brighton, Banksia Grove, Ellenbrook, Avely, Girrawheen, Brookdale, Bertram, Wellard and Baldivis.
Under the Affordable Housing Strategy in total, 10,000 homes have been delivered. The aim is for 20,000 by 2020.
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More than 1,100 properties sold through WA's affordability initiative

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With rates still currently at record lows, and predictions being made as to when we may start to see them rise, it's time to consider the affect of a rise, according to Smartline Personal Mortgage Advisers.
The impact of interest rate rises on household finances, and the actions that can be taken to manage the impacts, should be at the forefront of all mortgage holders' minds, said Smartline's executive director, Joe Sirianni.
"Interest rates are at historic lows and there is widespread speculation as to where they will go from here,” said Sirianni.
"Recent comments by the RBA indicate that the interest rate cut door is still slightly open, but money markets seem to think that it’s more likely that they won’t cut again," he said.
"That means we are moving closer to the time when rates will start to rise again, particularly if the economy improves. For those who haven’t already, now is the time to perhaps look at locking into a fixed rate and considering other ways of managing higher interest rates.”
AMP Capital's Shane Oliver also said that this week, with a speech from Reserve Bank governor, Glenn Stevens, to be released, it's time to watch closely for clues regarding the outlook.
"Given the confidence Deputy Governor Lowe recently expressed in the economic outlook, it’s likely that Governor Stevens will signal a degree of comfort with current interest rate settings – assuming he offers any comments on current economic conditions," Oliver said.
Currently, when assessing an application for a loan, banks factor in a potential 1.5% to 2.0% on top of the current rate, to ensure the applicant can afford an increase.
Sirianni recommends mortgage holders also consider the following:
·    Consider fixing part or all of your home loan 
·    Don’t forget the rate lock
·    Carefully consider your fixed rate term
·    Get into the habit of making higher repayments
·    Understand your spending patterns
·    Get good advice
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Start considering interest rate hikes now: Smartline

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."

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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."

[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.

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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.

[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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