<html><body>
Planning approval has been awarded to the Barangaroo redevelopment for a 300-metre long, 30-metre wide pedestrian promenade along Sydney Harbour, NSW planning minister Barry O'Farrell and minister for planning and infrastructure, Brad Hazzard, have announced.
The section of Sydney Harbour becoming part of the redevelopment has been off-limits to the public "for decades" and will extend the connectivity of the Barangaroo Central precinct.
“The harbour will play a vital role in the overall redevelopment of Barangaroo and the central precinct is set to be a hub for public open space and enjoyment of the waterfront," said O'Farrell.
“The new $27 million foreshore walkway will be the next step in completing a ‘missing link’ in a continuous 14-kilometre harbourside walkway from Woolloomooloo all the way to the Anzac Bridge," he said.
Work on the promenade is expected to begin in mid-2014.
“The existing temporary walkway at Barangaroo is already attracting about 21,000 people a month and there is no doubt the new foreshore promenade will be even more popular," said Hazzard.
“The promenade will create a quality connection between the Headland Park and Barangaroo South, with public access to the foreshore extending continuously to King Street Wharf and beyond," he said.
“The approved project also includes an option to create a temporary public domain area on the east of the site that will be available for casual sports and picnicking as well as the potential to host public events.”
</body></html>

jduke-EHk3XBmHkn

Barangaroo extended further with harbour approval

<html><body>
With the recent announcement that Suncorp will recommence writing new home and contents insurance policies in the previously embargoed town of Roma, there could even be reductions in premiums of up to 80%.
After a 16 month embargo on the town, Suncorp Personal Insurance CEO, Mark Milliner, announced that after the construction of a levee to protect Queensland's Roma from flooding, premiums will be re-priced.
New insurance policies will be sold on existing risk levels at present. Some townships had seen <a target="_blank" href="https://www.propertyobserver.com.au/queensland/most-home-owners-lack-flood-insurance-as-claims-rise-above-%24120-million/2013012959015">premiums skyrocket to unheard of levels after floods</a>.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/09/26/infograph-2-sept-27-big.jpg" title="Click to enlarge"><img src="/images/stories/2013/09/26/infograph-2-sept-27-small.jpg"></a>
Current estimates for a typical $300,000 home indicate that Roma residents may see an average reduction of 30% once the levee is completed.
Those in the more floodprone areas may see this jump up to 80%.
“Since 2008 Suncorp paid out more than $100 million within the Roma region in home and motor insurance claims as a result of storms and floods," said Milliner.
“Suncorp prices insurance policies based on the risks that individual properties face, so upon completion of the levee bank we will undertake a major re-pricing of our policies for the entire town of Roma," he said.
This also occured in Charleville, where mitigation works are currently complete. Those with home and contents insurances saw their policies reduced by an average of $400.
"Without their investment in mitigation, theaverage price of a new policy in Charleville would have been more than $3,000, and today it is about $990,” Mr Milliner added.
{module Would you buy a property in a previously flood-affected area if mitigation measures were on the cards?}
</body></html>

Flooding protection to reduce insurance premiums up to 80%

<html><body>
While apartment builders have been targeting chinese buyers, house and land developers are also getting in on the action, with interest up in Coffs Harbour and Tamworth.
Andrew Taylor, CEO of the number one Chinese international property portal, Juwai.com, pointed to statistics showing that Chinese investor interest in Tamworth over August was up 177% over January 2013 figures. 
In Coffs Harbour, it was up 133%. 
These numbers are based on user activity on the websites page views, searches, search results and enquiries. 
"Australia's Foreign Investor Review Board makes it clear that international investors who want to buy house and land packages can almost always get approval. The only condition is usually that they begin construction within a couple of years," said Taylor.
"Our experience with Chinese buyers tells us that some prefer new property, and the chance to design a house around their own lifestyle can be very attractive," he said.
"Some want to have a wok kitchen, which you can't find in most Aussie houses. A wok kitchen is a small room with a sink, stove and powerful exhaust fan just behind a door off the larger, Western-style kitchen." 
Director and West Australia operations manager for Integrity New Homes, Glenn Leet, is offering this type of product in both areas.
Leet said that the company's goal is to increase enquiry from Chinese buyers by 25% within six months.
"What I learned from going to China is that house and land packages are of interest to Chinese buyers, especially those who will be living in Australia. Your best buyers are those who already have their visa or residency sorted out," he said.
</body></html>

Coffs Harbour and Tamworth on Chinese investors' radars

<html><body>
Home buyers are not only encouraged to pay for a professional building and pest inspection report, but also to consider negotiating with it.
With recent claims of a <a target="_blank" href="https://www.propertyobserver.com.au/news/a-third-of-properties-unsafe/2013092265185">third of properties being unsafe</a>, and Archicentre also seeing around 30% of properties with a major flaw (see infographic below), some of these properties may still present an opportunity.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/09/26/infographic-sept-27-big2.jpg" title="Click to enlarge"><img src="/images/stories/2013/09/26/infographic-sept-27-small.jpg"></a>
Director of Consumer Affairs Victoria, Claire Noone, urged buyers to undertake a pest and building inspection as in some cases major faults may be indicated. This may include issues with the sub-floor and roof structures, or termite damage.
 Some properties will be worth avoiding altogether.
“If you’re highly motivated to buy a property, getting a professional building or pest inspection can be one of the final stages in researching the home before you buy,” Noone said.
“The fee for a professional inspection service can be small when compared with the cost of buying a property that needs extensive, unforeseen repairs," she said.
“You may also be able to use the report to negotiate the price and conditions in the contract.”
Investors and home buyers wishing to use a building and pest inspection for potential negotiation should include <a target="_blank" href="https://www.propertyobserver.com.au/residential/the-importance-of-building-inspections-in-property-transactions-tim-mansfield/2012052054762">relevant clauses in their contract</a> to allow it to be conditional for this inspection to take place.
A building inspection typically lists any faults, whether these can be repaired, and the potential cost. 
“Buyers negotiating a private sale can make the inspection report a condition of the contract,” Noone said.
“However, if you’re buying at auction you will need to consider whether you get an inspection beforehand – as you cannot make the contract subject to conditions, and you don’t get a cooling-off period to change your mind."
Full professional indemnity insurance is crucial for the inspection service you choose to use, ensure that they have this cover.
If your building and pest inspection has you confused, it might also be worth reading observer Jo Chivers' <a target="_blank" href="https://www.propertyobserver.com.au/renovating/how-to-read-between-the-lines-of-a-pest-and-building-report-jo-chivers/2012040454169">guide to reading between the lines</a>.
</body></html>

Renegotiate with your building and pest report

<html><body>
First home buyers are causing a spike in sales in Sydney’s Upper North Shore, according to a real estate agency in the area.
Principal of Mcconnell Bourn, Matthew Bourn, said that their agency has recently recorded 11 unit sales valued in excess of $5.2 million, with an average of 16 days on the market compared to 45 earlier in the year.
Bourn attributes this to first home buyers.
“Our recent unit sales show the buyer profile is predominately from a younger demographic, with 60% of our purchasers being first home buyers,” said Bourn. 
“These buyers are looking to get out of the renting cycle by taking advantage of low interest rates which have made it as affordable to meet repayments on a home loan as it is to pay rent,” he said.
The majority of recent sales for the agency have been selling at above list price.“Our last 11 sales of two-bedroom units have sold at around 4% above property market valuation,” he said.
“Interestingly, we are also noticing investors making a return to the property market as consumer confidence rises. Some locals are using their superfunds to purchase investment property in the area,” he said. 
He points to the following recent sales evidence (September 2013 sales):
<a target="_blank" href="https://www.mcconnellbourn.com.au/selling/NSW/North-Shore-Upper/ROSEVILLE/Apartment/1P3537">2/174 Pacific Highway, Roseville</a>
{yoogallery src=[images/stories/2013/09/25/rose]}
Apartment: Two-bedroom, one-bathroom
Features: Ground floor, built in wardrobe, lock-up garage, north facing balcony, laundry
Strata fees: $913.35 per quarter
Council rates: $303.00 per quarter
Water rates: $156.55 per quarter
Purchased one week after listing for $535,000
<a target="_parent" href="https://www.realestate.com.au/property-apartment-nsw-killara-114693823">2/642 Pacific Highway, Killara</a>
{yoogallery src=[images/stories/2013/09/25/kill]}
Apartment: Two-bedroom, one-bathroom
Features: Boutique block of ten units, high ceilings, undercover car space 
Levies: $1,532.00 per quarter
Council: $285.00 per quarter
Water: $156.55 per quarter
Purchased for $565,000 after first open home
</body></html>

First home buyers purchasing in Sydney's north

<html><body>
In response to Property Observer's story yesterday about <a href="https://www.propertyobserver.com.au/finance/off-the-plan-values-coming-back-at-15-below-purchase-price/2013092365217" target="_blank">valuations coming in 15% below purchase price</a> on a number of off-the-plan properties in Sydney, an industry spokesperson has called for a shakeup in the valuation industry.
With a background as a valuer, CPM Realty managing director, Sam Elbanna, has said that while Just Think Real Estate's Edwin Almeida said yesterday it was an issue related to the buyers overpaying, he thinks it's more an issue related to the valuers themselves.
“The fact that this is happening warrants the whole valuation industry is in need of a shakeup. Valuers always come in low when the market is hot. This always happens at this point in time in the property cycle," Elbanna said. 
“You will notice that the conservative banks will always do two or three valuations and you will see in these that in these cases that two out of the three will get it right and the odd one out will come out well under the market rate. You can read into the odd one out that sits 15% lower which will always favour people selling existing stock. As project marketers selling new stock we need to make it clear that this is rarely the case when settlement valuations are correctly looked at on new stock.”
After all is said and done, a valuation is determined by what a buyer, and subsequent buyers, are willing to pay.
He pointed to a unit in Roseberry that was bought off-the-plan for $519,000 in 2010. In 2012, it was then given a $490,000 tag from a valuer. The same unit, a day later, was given a second valuation for over $590,000. It sold for just under $600,000 a week later.
"I am suggesting that in the article, we had an agent saying that people are overpaying for properties. It's not overpaying, it's the market," he said.
One buyer may be seen to overpay, but if this happens from a number of buyers, this becomes the new market value.
The number of sales actually occuring to overseas buyers are also up for closer attention.
Elbanna said that it's a very small percentage of the market still.The real issue isn't buyers overpaying, it's valuers being underpaid and not having enough time to undertake the research required.
"They need to be given time to do the valuations, and they need to be paid for them well," he said.
"I think the whole valuation industry needs a massive overhaul. They don't get paid enough, they rarely go to the property. They do desktop valuations. Some of them do inspect the property, see it's brand new and still compare it to 10 year old properties."
Tips for those wanting to get the best from a valuer:
- 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.
But mainly:
- 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
</body></html>

Calls for an overhaul of the valuation industry

<html><body>
A position paper setting out reforms to the 1989 Home Building Act was released yesterday by fair trading minister, Anthony Roberts.
Created to address some of the unnecessary complexities for New South Wales, that had been causing disputes between homeowners and builders, so far there has been a positive reaction from the industry to the proposed reforms.
“In July last year the Government released an Issues Paper Reform of the Home Building Act for consultation and more than 600 responses were received," said Roberts.
After 15 months of consultation with industry, building groups and community, the proposed reforms cover a number of aspects of home building legislation. Dispute resolution, statutory warranties, home building contracts, owner-builders' obligations, home warranty insurance and licensing are all covered.
Roberts said that the aim was to provide regulation and protection for homeowners, while supporting building activity and investment in NSW.
Master Builders Association NSW executive director, Brian Seidler, said that the reforms are a good foundation and highlighted a few of the standout changes.
"By providing a clear definition of what constitutes a major defect, the Government is ensuring that clarity and certainty are introduced into the home building sector," said Seidler.
"Lifting the general works contract threshold from $5,000 to 20,000 will remove unnecessary red tape for smaller jobs."
The allowance of a termination clause was also said to be a good way to ensure obligations between builders and home owners are clear.
Housing Industry Association NSW executive director, David Bare, was similarly positive about the changes.
Bare said that the reform had been undertaken with the industry in an open and transparent manner.
Urban Tasforce CEO, Chris Johnson, has also put his hand up in approval of the proposed reforms.
“Too much time and money is currently spent on litigation between owners corporations and developers in the resolution of defects that can be better spent on ensuring houses and apartments are well built and managed,” said Johnson. 
“Most building contracts have a sum of money retained to cover the resolution of defects that can become apparent as a building is used and weathers and clearly the builder needs to ensure that any defects are quickly rectified. Unfortunately disputes have developed over the rectification of defects and the reforms now reduce ambit claims, require homeowners to give builders access to make rectification and require homeowners to notify defects early. These are all changes that can lead to a better relationship between all parties.”
You can read the review of home building legislation <a href="https://www.fairtrading.nsw.gov.au/ftw/About_us/Have_your_say/Review_of_home_building_legislation.page?DCSext.ref=HomePageClick:Whats_new" target="_blank">here on the Fair Trading website</a>.
</body></html>

Home building reforms to provide industry clarity

<html><body>
Even though the federal election has passed, the country and our property market has a long way to go until favourable economic conditions and consumer confidence returns, accordng to 1300HomeLoan managing director, John Kolenda.
Pointing to the Australian Bureau of Statistics' rising housing finance figures for each consecutive month over the last seven, he said this was largely due to an increase in investment demand and refinancing activity for lower rates.
“From what we see, a recent surge in real estate activity in Sydney is mainly from higher end foreign investors and this sort of interest is not being repeated in most parts of Australia,” Kolenda said.
“Activity from first home buyers remains subdued despite interest rates being at record lows and it is widely acknowledged that we haven’t seen any kind of blow out in borrowing,” he said.
The Reserve Bank of Australia's reduction to an all-time low of 2.5% has helped to maintain activity in the property market, and current discussions of a property bubble similar to that in the US are off the mark, he said.
“It could be disastrous to see the RBA react in the near future to headline grabbing speculation about property bubbles by applying an interest rate handbrake."
In fact, he noted that Australians are paying down debt and increasing savings.
“In my view, APRA’s comments urging banks and non-bank lenders to continue to lend responsibly are fair, but they are hardly a warning of a coming financial meltdown and housing bubble," he said.
“It doesn’t help confidence when some commentators and sections of the media keep talking up property prices. Australia is expensive compared to most parts of the world but the reality is that prices have largely fallen in recent years.”
</body></html>

"Disastrous" if RBA reacts to bubble claims: John Kolenda

<html><body>
Stockland's largest ever residential development in New South Wales opened their Sales and Information Centre at 11am today, with New South Wales minister for planning and infrastructure, Brad Hazzard, at the forefront.
The Willowdale development is a new 350-hectare community with 3,000 homes planned. Shops, 25 acres of parks and playgrounds and a proposed school will also be included.
It is located in the East Leppington growth precinct, 1.5 kilometres from the Leppington Train Station, currently nearing completion. It is 15 kilometres from Liverpool, and 37 kilometres from Parramatta.
The <a href="https://www.propertyobserver.com.au/developments/stockland-launches-willowdale-as-part-of-%241-billion-residential-development-at-east-leppington/2013081564198" target="_blank">fi</a><a target="_blank" href="https://www.propertyobserver.com.au/developments/stockland-launches-willowdale-as-part-of-%241-billion-residential-development-at-east-leppington/2013081564198">rst two stages of land released at Willowdale</a>, 49 and then 46 lots, sold out within the day of release. Stage 3 lots are looking at a release early next month.
Sizes range from 350sqm to 600sqm, with land prices starting from $234,000. A house and land package indicative pricing estimate is $429,000 for the 350sqm plot, with an estimated $195,000 for the house.
First settlements are estimated for June 2014, with residents ready to move in for the end of next year.
The launch event, celebrating the official opening of the on-site Sales and Information Centre, was hosted by Stockland's managing director and CEO Mark Steinert, and CEO residential, Andrew Whitson. 
“In Sydney’s South West, we’re now seeing a once-in-a-generation infrastructure development program, which has been thoughtfully and strategically mapped out to coincide with the rezoning and release of new residential land,” said Steinert. 
“Willowdale is perfectly located in Denham Court at the heart of this important growth corridor and early land sales have been very encouraging.”
He said that it is just one of a number of large scale projects they're fuelling in the western suburbs of Sydney. There's a plan to bring a Marsden Park residential development to market in 2014, and they've recently announced a $222 million redevelopment of Stockland Wetherill Park Shopping Centre.
“The NSW Government’s initiative to declare growth areas and rezone precincts for urban development has allowed us to plan with confidence and invest with certainty to provide affordable new housing for the Sydney market,” Steinert  said.
“We have received good support from several key NSW government departments and formed strong partnership with Campbelltown and Camden Councils.”
Other prominent guests included Bryan Doyle, member for Campbelltown; Melanie Gibbons, member for Menai; Clinton Mead, mayor of Campbelltown; and Theresa Fedeli, from Camden Council. 
The centre will be open to the public from October 5, seven days a week.
</body></html>

Stockland's largest ever residential development launched

<html><body>
A property expert has said that despite NRAS gaining traction in Mackay, many remain confused about what the incentive actually is.
Xcel Properties managing director, and developer of Plantation Palms in Mackay, Kim Clarke said that the National Rental Affordability Scheme is a minimum risk approach that attracts first time investors.
“Affordable rental properties in Mackay have been scarce for the past 10 years, which guarantees demand for these properties,” said Clarke.
“We’ve recently received an influx of potential investors enquiring about further education, especially around topics such as who will be living in their home, and who will be controlling their investment," said Clarke.
"As a major developer of affordable housing in the Northern Beaches area we have a responsibility to provide these potential investors with sound advice that helps support their decision.”
The top five NRAS misconceptions
1. NRAS properties are used for social housing These affordable rental dwellings are private property and the investor/owner has complete control over who occupies their property. A couple with three children can earn $109,264 pa (rising to $136,580) and still qualify to rent.
2. NRAS investors are large business groups only Potential participants in NRAS include everyone from ‘mum and dad’ investors, financial institutions, non-profit organisations, private developers, and community housing providers. 
3.	NRAS property schemes are operated by government Although the NRAS is an initiative funded by the Australian Government, it is an approved scheme operator that puts the operating agreement in place between them and individual investors. This can vary widely and investors are encouraged to thoroughly review the provisions contained in their agreement and seek help from a professional before finalising an investment.
4.	Tenancy conditions change when it comes to NRAS renters NRAS homes may be funded by the incentive for up to a period of 10 years and tenants are entitled to the same rights given as tenants of relevant residential tenancy law in their respective State or Territory.
5.	Grant payments remain unchanged despite increased rental value The NRAS incentive is paid per dwelling, and is indexed each year (Dec – Dec) in line with movements of the Rents component of the Consumer Price Index. This is calculated using the weighted average rate of the eight capital cities housing component, and is effective from 1 May 2013.
(Source: Xcel Property)
</body></html>

NRAS misconceptions explained: Kim Clarke

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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>.

[smartcode_project_cta:default project_id=151449]

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.

[smartcode_project_cta:default project_id=134951]

Jennifer Duke

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News