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Victoria's Fishermans Bend Urban Renewal Project announced in July 2012 is in the middle of its community consultation that will inform the Strategic Framework Plan.
A letter drop to local residents' and business owners' properties noted that the community engagement for the project concludes on November 22, 2013, with the framework to then be released in the summer of 2014.
The planned redevelopment of Fishermans Bend from the local government will "transform a large area of industrial land on the city's doorstep," the letter reads.
The plan is to provide 80,000 homes and 40,000 workers within 40 years. Currently, 250 hectares has been rezoned for the purpose.Fishermans Bend is bound by Williamstown Road and Boundary Street to the south, City Road to the east, the West Gate Freeway and Lorimer Street to the north and City Link and Todd Road to the west.
Fishermans Bend has previously been contentious, and professor <a href="https://www.google.com/url?q=https://www.propertyobserver.com.au/victoria/fishermans-bend-rezoning-remains-contentious-as-montague-site-to-be-flooded-with-apartments/2013062562627&amp;sa=U&amp;ei=umlcUpz7MIiOiAfglIDwCA&amp;ved=0CAcQFjAA&amp;client=internal-uds-cse&amp;usg=AFQjCNFWNO5NxBkT_iMjJHsbL2SpROJesQRMIT" target="_blank">Michael Buxton has been vocal about the redevelopment</a>.
"You could not get a worse example of how not to develop than Fishermans Bend," Buxton previously said.
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jduke-EHk3XBmHkn

Community consultation underway for Fishermans Bend

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The Real Estate Institute of Tasmania (REIT) has slammed Minister Nick McKim for failing to involve them in the organisation of the Residential Property Transactions Bill 2013 prior to its debate in parliament.
REIT president Adrian Kelly said that in April, McKim had promised them the opportunity to discuss their concerns around the bill, which is now set to be up for debate today.
The bill will introduce new measures into property transactions across Tasmania, including a standard set of disclosure documents, cooling off periods for purchasers, stronger purchasers' rights around rescinding a contract due to unapproved building works and severe penalties for those who do not comply. 
“We have been very proactive in forcing Government to introduce mandatory smoke alarms into all rental properties, as well as assisting in setting minimum standards for rental properties,” said Kelly. These <a target="_blank" href="https://www.propertyobserver.com.au/tasmania/landlord-rules-overhauled-in-tasmania-minimum-standards-rental-increase-limits-six-week-eviction-notice/2013101365661?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">changes will be coming into force soon</a>.
“This new Bill will not solve any of the problems it is intended to. Instead it will make what is currently a simple transactional process so full of red tape and convolution that even the most experienced conveyancor or solicitor will find it difficult to follow," he said.
He noted that the government had not entered into conversation with the organisation due to their vested interests.
He pointed to a petition that had been signed by the "majority of all legal firms in this State" that opposed the bill.
“Surely the Minister can’t honestly believe he knows more about a real estate transaction than all lawyers and estate agents combined?" he said.
“The losers will be those ordinary Tasmanians who wish to sell their family home, because under this new Bill they can easily be duped by an unscrupulous purchaser," he said, while acknowledging that McKim's reasoning is likely to be about consumer protection.
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Residential Property Transactions Bill already seeing sparks

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Brisbane CBD's government precinct redevelopment could open the way up for a new casino, new hotels and retail outlets, with proposals to be sought through an Expression of Interest process.
Premier Campbell Newman has said that they are aiming for a landmark development to position the city as an international destination.
“The redevelopment of the precinct presents a once in a generation opportunity for Brisbane and the Government has considered a range of development scenarios for the precinct,” Newman said.
“Market sounding has indicated the best outcome for the precinct and for the protection of heritage sites will be achieved through an integrated development.”
The redevelopment could include six star hotels, retail outlets, restaurants, entertainment zones, theatre and convention facilities and new open spaces.
“The Government has decided that a casino licence will be offered in the EOI process to encourage the provision of a world class integrated development in Brisbane’s CBD,” he said.
Two other casino licences are also under consideration for major integrated resort developments in other parts of Queensland.
“The Government believes Queensland can sustain up to three new integrated resort casinos and believes there would be strong interest in other parts of the state,” Newman said.
Deputy Premier Jeff Seeney said that the Expressions of Interest would be going to market by the end of 2013.
“Integrated developments including casinos have proven their ability to increase visitor numbers and stays elsewhere in the world,” Seeney said.
Pointing to Singapore's foreign visitor numbers having declined in 2008 and 2009 to then see a more than 20% uptick as a result of two integrated resorts with casinos in 2010, he said that he expects similar benefits for Queensland.
“There is no doubt a project of this scope and size holds enormous potential for the development and tourism sectors, for the residents of Brisbane and visitors to the city," he said.
A draft Queensland Casino Policy will be released for public comment.
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Casinos given thumbs up for Queensland, proposals sought

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Break costs, discharge fees and set up costs for a new loan were the most common concerns listed in more than 7,000 questions posed to finder.com.au, according to spokesperson Michelle Hutchinson.
After these concerns taxes, including stamp duty, were listed most commonly, with almost a question each day about capital gains tax over the past few months.
Hutchison said that borrowers expect to be stung by hidden fees and taxes, which discourages them from switching home loans.
She said that it shows many borrowers are too frightened about being ‘stung’ by fees and taxes to consider switching.
"This is despite the fact that it’s relatively cheaper to switch home loans for most borrowers compared to two years ago,” said Hutchison.
"And even though taxes are one of life's certainties, it's still one of the most confusing topics for many borrowers. For instance, many borrowers don't know how to calculate stamp duty costs for a new mortgage, which can easily be found using an online calculator. Another surprising concern was the vast number of enquiries about capital gains tax for owner-occupied mortgages - this only applies to investment properties."
Refinancing was the third most common concern, with borrowers asking about the process and the costs.
Borrowers should noted that since July 2011, lenders have been banned from charging borrowers exit fees on variable home loans entered into after this date.
Hutchison notes that buyers can expect to pay around $1,000 to close their loan and establish a new one.
“It’s really worth asking questions and working out the costs of switching your home loan. Even if you can get a quarter of a percent discount off your current loan, it could mean big savings,” she said.
“However, it may not be worth refinancing if you have less than 20 percent equity as you will incur Lenders Mortgage Insurance (LMI) again which may outweigh the benefit of switching.”
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Borrowers probably too frightened of fees to switch: Finder.com.au

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Residential community Katandra Rise in Melbourne's Doreen saw a significant jump in interest over the weekend, with 200 in attendance and an uptick in first home buyer sales.
Developer Five Squared Property Group showcased the new sales and information centre at the development, said marketing manager Ashley Lewis. 
“We’ve seen a significant jump in our sales this year, which we believe has been influenced by the multiple interest rate cuts and changes to the first home owners grant in July,” Lewis said. 
“A lot of the interest has come from first homebuyers and young families looking for an affordable foothold in the property market in a picturesque and convenient location."
The median price in Doreen is currently $460,000, with a forecast of triple growth by 2031, to 51,272. “Buyers are attracted to Doreen because of its affordability, but they’re also after a lifestyle where they can raise their families,” he said. 
Katandra Rise was launched in 2011, and is located 500 metres from Doreen Town Centre.
It is built on 37 hectares of land, and will contain 475 lots in total. 
The third stage, Redgum Release, is currently underway with completion due in December 2013.
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Interest increasing for Doreen development

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Major banks have dipped slightly out of favour, with property buyers financed with non-major lenders now making up one in every six residential home loan across the country, a new data analysis has found.
RateCity, referring to an analysis of Australian Prudential Regulation Authority data, said that the big four banks collectively lost 0.52% market share to smaller banks and lenders.
This change is largely due to ramped up competition, incentives and discount rates on offer from non-major lenders, said RateCity CEO Alex Pasons.
“Although the major banks still hold the lion’s share of the home loan market, that’s slowly shifting as more people realise that smaller lenders, in the most part, offer better rates – often with the service to match,” he said.
“People are getting smarter with their home loans and realising that paying the higher rates is a waste of their money.”
Some mortgage providers off rates at 4.55% on variable loans. The average of the big four banks for variable rates is 5.24% or 5.04% with package discounts.
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Investors turning towards smaller banks and lenders

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Our article about advertising and <a href="https://www.propertyobserver.com.au/news/under-scrutiny-how-far-does-the-property-media-industry-go-to-protect-their-readers/2013100965608" target="_blank">how far property publications go to protect their readers</a> received a lot of angry responses, as well as some supportive ones.
Let’s have some background.
I was hired as a journalist by a property investment title as a junior and I built up my knowledge about the industry as we grew that magazine. Within our editorial meetings, our publisher, writers and, a while later in the game, a sales representative, would regularly talk about the direction and feel of the title. It was a great environment to work in, and I was never unhappy being there.
The overarching view of the approach to editorial from magazines in the property space, and beyond, appears to be something like this: "Teach them to fish, don't give them the fish"; meaning, teach them how to work out if it's a good investment property, rather than pointing out the properties.
It also means this: teach them to catch a spruiker, rather than point out who the spruikers are. My arguments against specific spokespeople in the past have easily been countered with arguments for them. None of this was done in bad faith.
Property media, and I’d imagine all three magazines as well as news outlets, have dedicated staff who work long, tireless hours, pouring a lot of care into the final product. Property slowly became an inextricable part of my life and how I view the world. But the most gratifying part of the job has always been speaking to the readers. I feel a sense of duty to the people who stumble into the property investing world wide-eyed as I once did.
Regardless of the rivalries that people imagine exist between publications, for the most part those rivalries are imaginary, and there's a huge amount of respect in this small crowd of property journalists, editors and publishers.
But there's a conversation we're not having. And it is this one: important coverage appears to be being restricted, and it shouldn’t be.
The property industry, that we all love and live within, is filled with both trustworthy and untrustworthy characters.
Teaching investors how to find a spruiker is hugely important. Provide articles about the hallmarks of a spruiker and explain to them those famous 'top ten questions to ask [insert whichever expert title here]'. By all means, tell them to undertake their due diligence.
But do not restrict coverage of who the spruikers are. It is wrong when coverage of potentially illegal activities by property industry members is non-existent, and it is wrong when the interests of advertisers get in the way of how editorial is shaped.
The pressure on journalists in any company to shape articles a certain way has the potential to be significant, and I’m not just talking about property journalism. It might make some angry, but it's time we talked about it.
What struck me about last Friday’s Today Tonight episode was firstly how few other investment titles, specifically where the subject was an advertiser, decided to run the story or follow up on it on their websites or otherwise. This wasn’t a case of it being a story that didn’t interest their readers – many of whom are likely to be our readers too. It’s also not a case of calling magazines spruikers, or saying that they don't care about their readers, which would plainly be incorrect.
What I am saying is that in the past I have definitely had conversations about sources that I did not want to be quoting, and others that I had an uncertain feeling about, and I did not always end up content.
The property industry is a minefield. It's filled with people who dislike each other; experts that some say are excellent, while others say they are wrong in every way. The one line that is widely agreed with is this: "There isn't one [property expert] who hasn't had anything bad said about them."
But it accompanies a whole host of issues: How do you know who to trust? Which sources are accurate? What is illegal versus unethical and whether you stop quoting anyone that has a certain amount said about them?
As the article indicated yesterday, for publishers there lies an added legal complexity about saying 'no' to a potential advertiser who hasn't been found guilty of anything - even if you could add "yet" to the end of that sentence.
If Property Secrets are found to be guilty of these allegations, it’s hard to doubt that the magazines and other media outlets will act appropriately. I don’t think that even needs to be questioned.
What we wanted to know, was this: What is the limit until advertising and sources do get pulled?
How were we all going to react and when?
Would it be the day after the allegations are made? After a review period? What will it be, and is there even a process?
How far does it need to go, until we can stand there and safely say we’re not using them in any capacity?
That is what we set out to find out. It wasn’t attacking the different magazines; we were not berating them for having those advertisements on the title – far from it.
Many people mentioned yesterday how much more valuable editorial is than advertising. Anyone who knows how PR works, and how they calculate their worth to the client based on editorial placements using a company's media kit, will be able to attest to this.
But what doesn’t often get a mention, again the conversation we're not having, is the pressure that comes from other departments to ignore the signals. Signals that may include what we read on forums about certain members of the industry, what other industry sources begin to say and, worst of all, to ignore what our readers start saying to us about different ‘experts’.
It's unfair to completely shun a spokesperson because of unsubstantiated comments, or a complaint from someone else in the industry who likely has a vested interest, but it's also unfair to use that same line "there isn't one who hasn't had anything bad said about them"  to ensure that they are allowed a comment. This is the dilemma facing us, particularly when we are not privy to all the information about whichever individual is being discussed, as is likely the case here.
Whether it’s magazines, online or otherwise, we all rely on our readers to speak to us, and if their comments fall on deaf ears then what are we doing?
At the same time, we can't possibly be aware of all the people who are doing the wrong thing and as someone else mentioned yesterday, there's certainly a case for innocent until proven guilty. I did have a phone call with an industry member who said how awful it would be if all the allegations do turn out to be untrue, and how much it would have potentially wrecked the livelihood of an innocent man. No one would want that.
There are certain checks that can be made, and I hope we all get better at making them. But if a publisher, if an editorial team, are truly unaware about what has occurred – then the steps they will need to take will be post-event. That is, potentially, right now.
We can call for regulation until the cows come home - certainly a conversation I have with numerous people on a regular basis - but the best thing we can do is allow open coverage of what is occurring.
While some may roll their eyes, what I can promise is the following.
I will never tell a journalist not to use an expert because I personally dislike them, or for any other reason than a concern about their appropriateness to an article or similar. I will also never force a journalist to use a source for any other reason than that they’re a knowledgeable person on that topic and it wouldn’t make sense not to include them.
I will never restrict reporting, and will never allow restrictions, on sensitive topics that might irritate anyone in the property space. I have created friendships with different property professionals, but I will not allow this, and my own opinions about property and investing, to cloud what we report.
Every case for and against using an expert will be debated on its own merit. And we will never shy away from a story about someone who has done our consumers wrong, provided we gather the evidence as is appropriate. Sometimes gathering enough evidence is harder than you might think.
While I was met with a barrage of emails yesterday, some about wrecking relationships, others thanking me for a frank and much-needed discussion, the aim was not to prompt anger or to tarnish other journalists’ work, but to ask for a simple conversation. Unfortunately, this might be a little painful, but the more important parts of life often are.
The conversation needs to start with a question about how we react in response to allegations against an expert who we use. But it should probably then turn into a bit of an analysis of how we’re currently providing content to our readers, and the way we choose the spokespeople initially.
A large part of property journalism is indisputably "teaching them to fish" and we will not stop providing this sort of information either. It's really not a bad mantra.
But it needs to be added to until the approach looks more like the following: “Teach them to fish, don't give them the fish… but let's shine the light on the sharks that swim in the same murky water.”
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Letter from the editor: Property reporting

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We recently saw this tweet from Australian Mining who alerted us that there's no mining camp coming for Singleton. 
The application was for a 1,300-room, $101 million development.
“Our Singleton village would also not proceed unless there is a change in demand for accommodation,” MAC managing director Peter McCann told Australian Mining.
<blockquote class="twitter-tweet">
No mining camp for Singleton: Application denied <a target="_blank" href="https://t.co/Ty0I2uxgxP">https://t.co/Ty0I2uxgxP</a>
— Australian Mining (@ozmining) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/ozmining/statuses/388445987116556288">October 10, 2013</a>
</blockquote>
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No mining camp coming from Singleton

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Perth investors have seen a tough run of luck lately, and this isn't yet set to stop with about 80% more rental stock now on the market than at the same time last year, according to the Real Estate Institute of Western Australia (REIWA).
With Perth landlords recently being reported as <a href="https://www.propertyobserver.com.au/news/perth-landlords-lower-rents-to-dissuade-potential-buyers/2013090264735" target="_blank">lowering rents to dissuade potential buyers</a> the <a href="https://www.propertyobserver.com.au/western-australia/perth-rental-market-intensity-eases-slighly-reiwa/2013011658797" target="_blank">REIWA mentioned that the market was starting to ease</a> back in January of this year.
While across the board the median rent drop calculated by REIWA data was $5 per week to $470, the rent decrease jumps up to $30 per week in the City of Perth.
The western suburbs, South Perth and Victoria Park, Mundaring, Melville, Vincent and northwest Wanneroo were also poorly affected, with median rents dropping by $25, $25 $23, $22, $20 and $20 respectively.
A $10 drop was seen in Bayswater and Bassendean, northeast and southern Wanneroo, Cockburn and Rockingham. Around 65% of vacant properties were seen within 10 kilometres of the CBD.
Despite this, REIWA's Hayden Groves cautions tenants against breaking their leases, warning that the costs of doing so could outweigh the rental reduction they may achieve.
"Equally, it’s important for owners to understand that conditions have changed and they need to adjust their expectations of rental return by talking to their property manager to set the right price," Groves said.
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Median rents drop by up to $30 per week in Perth

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Reader Letter 1: 
I read your article about the <a href="https://www.propertyobserver.com.au/finance/off-the-plan-values-coming-back-at-15-below-purchase-price/2013092365217" target="_blank">Off-the-plan values coming back at 15% below purchase price</a>. 
I have purchased an apartment in Melbourne with one bedroom one bath at $347,500 and after the valuation they said  it will be around $320,000. 
I feel I’ve been ripped off in many different ways.
This apartment meant to be completed early this year and has extended till [dates withheld for anonymity]. 
Is there anything I can fight with developer? or claim the difference of $27,000?
- Response: We're currently investigating.
Reader Letter 2
Why do people refer to gross rental yields and not nett rental yields ? 
Wouldn't it be easier to compare properties after costs rather than before ? 
Can you explain what the reason is behind this use in the real estate market for me because it doesn't appear to make sense ? 
- Response: The reason that gross rental yields are used rather than net is that costs vary for every individual property and every investor, and aren't always clear unless you've undertaken a thorough analysis of that particular investor's costs.
For instance, a unit may have higher outgoing costs e.g. it has elevators and pools, and therefore strata fees are higher, it's older and therefore needs more maintenance (refer to depreciation schedule) and the investor may have put down a 30% deposit meaning that the mortgage monthly interest costs are lower than an investor who put down 20%.
There's no way to calculate this for every property from a media perspective, and so gross rental yields are generally used as it helps compare properties/suburbs solely on this return, rather than investor-specific. Also, it gives a gauge on what is happening in that area in terms of overall trends (e.g. market forces affecting yield) rather than the specific finances of individual investors that might not be as useful. 
For individual investors, gross yields can help find an area trending the right way/with good overall numbers. Net yield should then be further used to knuckle down between individual properties that have been selected and to get an understanding of how properties are truly performing individually within a portfolio.
If you have something you want discussed, email: <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au </a>
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LETTERS TO THE EDITOR: Rental yields, off-the-plan vals

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

Joel Robinson

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

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

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

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

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&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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