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An exclusive preview of Focus @ Coburg Hill, a new townhouse development on the historic Kodak site, will be released tonight at a VIP launch event.
The release of 10 boutique townhouses, from $575,000 to $595,000, is called the '<a href="https://www.focuscoburghill.com.au" target="_blank">F-series</a>' and is being given a send off by the Satterley and Boutique teams tonight at the K1 Display Home at Coburg Hill, 139 Elizabeth Street, Coburg North.
Interested parties are required to enter a ballot by 7pm tonight, with a draw at 7.15pm. Those successful in the ballot will be required to deposit $5,000 via Cheque, EFT or EFTPOS along with a signed Contract of Sale to secure the purchase.
“For three decades, Satterley’s focus has been on delivering communities of outstanding quality. We saw great potential at Coburg Hill to create a unique kind of urban living; the pinnacle being the ‘Focus’ @ Coburg Hill Exclusive F-Series Release," said Nigel Satterley AM managing director and chief executive.
"To achieve this, we are proud to partner with Boutique Homes and Mills Gorman Architects who share the same unwavering commitment and vision," said Satterley.
Property Observer previously covered <a href="https://www.propertyobserver.com.au/land/satterley-expands-its-victorian-landbank-with-point-cook-acquisition/2013052761674" target="_blank">Satterley's acquisition of the Kodak site</a>.
*Images are artist impressions and for illustrative purposes only. Images may depict fixtures, finishes, features and furnishings not included in standard pricing and not supplied by Boutique Homes including, but not limited to, furniture, additional landscaping and upgraded appliances and finishes. Please refer to working drawings and elevations for further details. For detailed home pricing, please talk to a Sales Consultant
 
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jduke-EHk3XBmHkn

Coburg Hill development hosting VIP launch tonight

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A two-bedroom, one-bathroom townhouse in Sydney’s Surry Hills has sold for more than $200,000 over reserve, and it may be partially due to the number.
Having been tightly held for more than 50 years, 88 Campbell Street, <a href="/news">Surry Hills</a>, has sold for $840,000 after being listed with a $640,000 reserve.
For Jonathan Chancellor's insights about the sale, read his perspective on <a target="_blank" href="https://www.propertyobserver.com.au/news/surry-hills-auction-price-silliness-won-t-necessarily-be-contagious/2013092365215?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=jonathanchancellor'spropertyinsights">Surry Hills auction price silliness here</a>.
The approximately 51sqm rundown townhouse, with no yard or car space, was said to have gone for the price for a number of reasons, one of which may have been the house price number.
Eight is an auspicious number in Chinese culture, and Ray White Surry Hills/Alexandria agent, Jack McGhee, who sold the property said it was a busy auction with a number of Chinese buyers. The 'double luck' number of 88 might have made a difference, he said.
The mixed commercial/residential zoned property was advertised as a ‘renovator’s delight’ and attracted a number of people to the 9am Saturday auction.
There were 24 registered bidders on the day, with eight actively bidding and two at the end “going for it” McGhee told Property Observer.
Interestingly, the property was on a T-intersection, which he said may be seen in a bad light by many Chinese buyers.
The final buyer, an investor, will be required to spend $250,000 to $300,000 on the property to get it back to a livable condition.
“It has been empty for ten years, it’s derelict [and] unlivable,” he said. As a previous family home, the owner then moved on to a nursing home, holding the property for several years before putting it onto the market.
A property with similar specs, at 172 Campbell Street, Surry Hills, currently has an <a href="https://www.onthehouse.com.au/reports/property_profile/12189017/172_Campbell_Street_SURRY_HILLS_NSW_2010/" target="_blank">online valuation ‘guesstimate’</a> of $678,100 to $764,100.
Meanwhile, McGhee pointed to a townhouse nearby that sold last year for $765,000 but was fully renovated.
Throughout the 28-day auction campaign the property achieved a lot of interest, with offers from $440,000 to $640,000 prior.
“Everything is going pretty strong, but there's not many of these left around in Surry Hills anymore, there aren't that many derelict properties in Surry Hills,” he said.
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Chinese bidders push townhouse ‘88’ over reserve

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Sydney’s off-the-plan apartment market is in a property ‘bubble’ and is an inflated market that valuers are seeing through, according to Just Think Real Estate’s Edwin Almeida.
Pointing to the Sydney suburbs around Parramatta, including Westmead and Granville, Almeida told Property Observer that overseas buyers are falsely inflating property values by trying to ‘save face’ when valuations come in short.
“In a lot of these markets the marketing companies that are selling these units are selling to Asian markets and Asian investors. When it comes to settlement obviously the valuations are ordered,” Almeida said.
He explained that, knowing many valuers and mortgage brokers, current conversations he is having are that the apartments’ valuations are often coming in 15% below what they’re purchased for three months prior.
“You don't hear of this because the Asian community doesn’t like to lose face, so they settle and get the money from overseas. If they did get angry they don't like to go through the litigation process of taking the agent to tribunal for deceptive misconduct,” he said.
He also explained that as losing a 10% deposit is a big incentive, and the purchaser believes the market is ‘running hot’, many buyers still go through with the purchase.
In some instances, properties that sold for $560,000 are coming back with valuations of $440,000 to $450,000.
He said that while he believes this is causing a bubble in new stock, the secondary stock is not experiencing this.
“These three-bedroom apartments were selling in the $520,000 mark, miles from Parramatta CBD,” Almeida said.
“I thought they would be worth around $420,000, and the valuer confirmed that they were around $425,000.”
This gives a false impression the market is growing.
Within the next 18 months, as some of these properties start to sell, he said we’ll see the ‘real value’ of the properties emerge, and likely the market will soften as a result.
Have you heard of this happening? Contact jduke@propertyobserver.com.au 
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Off-the-plan values coming back at 15% below purchase price

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For investors and property buyers needing a quick response from their bank, a new initiative is offering $500 in the customer’s pocket if the initial credit assessment isn’t returned within 48 hours.
Head of intermediaries for Suncorp Bank, Steven Heavey, said that the Suncorp service guarantee will assist brokers to give confidence to customers.
Initial credit decisions being returned within 48 hours has been occurring for over 12 months, he said.
“We encourage brokers who have not used us to give us an opportunity to experience quick and consistent turnaround times,” said Heavey.
Initial credit assessment is an application review that results in the file being approved, approved subject to conditions, approved subject to valuation, pre-approved or declined.
The service guarantee applies to broker-introduced, electronically-lodged applications.
Some applications will be excluded from this guarantee, including those that are manually lodged, those with missing information and those referred to a higher credit authority for further assessment.
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48-hour loan application or $500 in your pocket

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Our Friday poll found that the majority of respondents are looking to purchase in the $300,000 to $400,000 bracket, further suggesting that they may be pushing up against first home buyers.
With 26.9% of readers pointing to the $300,000 to $400,000 bracket, and 62.7% looking to purchase under $500,000 in total, it looks like investors will be driving the affordable bracket.
<img alt="poll-results-sept-23" height="320" width="470" src="/images/stories/2013/09/23/poll-results-sept-23.jpg">
With investors pouring into the market, and talks of prices rising substantially in some capitals, it’s no wonder that first time buyers are starting to feel the heat.
Of course, there are two waves of thought here. One goes along the lines of ‘get in now before everything jumps in value and prices you out’, while another perspective is ‘wait until there isn’t any competition in the market’.
Similarly, if you’re sitting on a 5% deposit, then the temptation to hold off of entering can be strong.
In fact, investors have <a href="/news">recently been blamed for first home buyer woes</a>, and SQM Research announced that<a href="https://www.propertyobserver.com.au/finance/first-home-buyers-priced-out-of-the-market/2013092265179?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank"> first time buyers are already getting priced out</a> of the market.
All this comes at a time when markets are heating up.
 
{module Should first time buyers be holding off or jumping into the market now?}
 
 
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Should first time buyers purchase now?

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A recent ruling calls attention to the fact that you must be accurate with your property dealings and ensure you stick to the specifics of your contract, even if the dollar value difference is minimal.
In the Supreme Court of Victoria, plaintiffs Gregory Maurice Putt and Lee Stacey Walker were refused a $59,500 deposit refund on a conditonal loan, due to asking for a loan of $1,000 more than specified in the contract and not then taking further steps after their finance was refused.
In the case of Putt &amp; Anor v Perfect Builders Pty Ltd, the plaintiffs sought a refund on their deposit for Apartment 203, 449 Hawthorn Road, <a target="_blank" href="/news">Caulfield South</a> after signing the contract of sale dated 27 May 2013. 
The plaintiffs say that, on its proper construction, general condition 14 of the contract entitles them to have the deposit returned.
In the contract, the following was stated:
The following details apply if this contract is subject to a loan being approved.
Lender: AFG Home Loans
Loan amount: $475,000 Approval date: 4th June 2013
However, when Walker and Putt went to apply for the AFG loan, a 'Requested Loan Amount' of $476,000 was stated.
The court transcript details:
The application form exhibited to her affidavit states the purpose of the loan as ‘O/Occ’ and the ‘Purpose Amount’ as $631,000, made up of a ‘Requested Loan Amount’ of $476,000 and $155,000 of the plaintiffs’ ‘Own Funds’. The application notes that the plaintiffs seek approval for ‘an 80% LVR facility of $476,000 to enable them to purchase an owner occupied property to the value of $595,000’.
The plaintiff's solicitors informed the defendant's solicitors that the finance application had been denied before 4pm on 14 June 2013 and requested a cheque for the refund.
While the plaintiffs argued that due to a small amount of difference, $1,000, they should be entitled to a refund, the application was refused.
"First of all, there is insufficient evidence to persuade me that the plaintiffs applied for a loan of the amount of $475,000 specified in the contract," the judge noted. If the plaintiff had applied for $475,000 the issue would not have occurred.
"Even if that is not correct and the plaintiffs should, logically, be regarded as having applied for a loan of $475,000 by asking for the higher amount, I am not satisfied by the evidence that they would have fulfilled their obligation under general condition 14.2(b) to do everything reasonably required to obtain approval of such a loan."
For a full copy of the court discussion and decisions,<a target="_blank" href="https://www.austlii.edu.au/au/cases/vic/VSC/2013/442s"> see Austlii</a>.
If you are looking to buy off-the-plan, <a target="_blank" href="/guides">consider these three top tips</a>.
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Off-the-plan $59,500 deposit refund refused due to $1,000 discrepancy

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A building inspection company has found that a serious safety hazard is present in one of every three homes they inspect as part of buyers’ pre-purchase inspections.
Jim’s Building Inspectors, who conduct more than 500 inspections each month across the country, have warned that a large proportion of properties are unsafe with the most common issue being electrical in nature.
Renovators, in particular, are being warned about this issue.
“We commonly see poorly installed down lights in renovations and extensions that can be a potential fire hazard in roof spaces as well as older homes that simply have damaged and degraded wiring,” said Suzanne Commerford, director of Jim’s Building Inspections.
This can cause much expense to the property buyer, as well as a significant safety issue.
Any property built before 1980 is advised, by Energy Safe Victoria, to have an electrical inspection undertaken.
“Importantly consumers should be cautious as electrical wiring is generally excluded from routine pre-purchase inspections.  It’s why we offer premium inspection services where we ensure all electrical, plumbing and gas systems have been checked as well as the buildings overall condition and structures,” said Commerford.
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A third of properties unsafe

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With savings on offer from lower interest rates, many investors may find that their properties turn from negative to positive cash flow, according to Smartline Personal Mortgage Advisers.
Looking at rate cuts totalling 2.2% over the last two years, investor activity has increased and loans of $300,000 are seeing interest savings of around $6,000.
“$6,000 a year or $115 a week is a considerable sum of money and would take many investment properties from being cash flow negative to positive,” said executive director for Smartline, Joe Sirianni.
“Removing the cash drain opens up opportunities for an increased number of investors to make the move for the first time, and the scope for some investors to add to their existing portfolio," Sirianni said.
“While there is widespread talk of a lack of consumer and business confidence, we are not seeing this at all".
Currently, he noted that the environment is favourable for investors with growing rental income. 
“However, it needs to be remembered that rates won’t stay at these record lows forever,” Mr Sirianni said.
“Investors need to ensure that the numbers add up on their property investment in the face of rising rates and that they can continue to afford their investment if it does become cash flow negative in the future."
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Negative cash flow quickly turning positive

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An 11-hectare expansion of Wyndham Harbour by Lyons Capital has been voted against by local MP Tim Pallas, causing planning minister Matthew Guy to slam his decision.
Amendment C156 to the Wyndham Planning Scheme was approved earlier this year by Guy, allowing for the expansion of the Wyndham Harbour project located in Melbourne's west.
At the time, he said the planning scheme amendment will support the growth of the Harbour to a community of 1,400 residents and help fast-track a planned ferry service link to Docklands and Melbourne CBD.
The amendment rezoned 11 hectares of land to accelerate the development of the 1,000 berth marina and to allow for 10 kilometres of extensions of gas and water mains and reticulated sewage. 
Up to 3,000 jobs during the five-year construction, and then 440 ongoing jobs associated with marina operations, were expected, along with higher density housing.
Pallas voted against the development recently, prompting Guy to accuse the Labor MP of being against job creation.
Claiming Pallas wrote to the developer, Lyons Capital, in May in support of the project, expressing enthusiasm, Guy queried the about-turn. 
“One month Labor are vehemently in favour of a development, the next month  they oppose it,” he said.
“The Labor Opposition need to explain to the people of Melbourne’s fast  growing Western suburbs why they are voting against planning scheme  amendments that create local jobs and local investment in areas where it’s  needed the most.
“Local Labor MP and Shadow Treasurer Tim Pallas has demolished his own  credibility by purporting to back local Wyndham jobs; even writing to  developers to say so, then doing the exact opposite by voting against the  Wyndham Harbour development in Parliament.”
When Property Observer approached Pallas' office for comment, they said his letter had been taken out of context, and provided a full copy.
Pallas' office particularly referred to the section below:
As discussed at our briefing, given the lack of access along the western shoreline of Port Phillip Bay due to water depth and environmental constraints, I wish to confirm my support for:
1. The establishment of a ferry terminal at Wyndham Harbour (to be funded by the developer of the service)
2. The expansion of an additional 45 hectares of land at Werribee South needed to increase population around a Transit Orientated Development to be known as Wyndham Cove. Any such extension will need to go through the appropriate planning approval processes and I will be keen to ensure that any proposed development makes provision for all necessary community infrastructure to cope with any added population.
The above support is provided on the following basis:
1. The ferry service is not subsidised by the Victorian State Government;
2. Lyons commitment to creating a publically accessible park along the Werribee South Beach foreshore;
3. Lyons does not represent the ferry initiative as a mass transit solution but as a niche transport solution to Point Cook and neighbouring localities;
4. All capital costs of the establishment of the service to be borne by Lyons Capital Pty Ltd.
Tim Pallas has been approached for further comment. Lyons Capital has also been approached for comment. 
Property Observer will provide updates as they come through.
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Eleven hectare development scuttled

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While a busy road, rough neighbourhood and poor fixtures and fittings might be many assumptions as the number one buyer turn off, a new survey suggests that it's something far different.
Research from Aussie Home Loans into the top features buyers look for, and what they dislike, has found that the smell of cigarette smoke is the biggest turn off, with 69.1% of house hunters and renters saying it makes them steer clear. Pet smells came in far lower at 53%.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/09/20/home-sep20-table-big.jpg" title="Click to enlarge"><img src="/images/stories/2013/09/20/home-sep20-table-small.jpg"></a>
This distaste for cigarette smells was even more evident from the younger generations, aged 25 to 34, with 71.9% finding it to be the most offensive.
A busy road location, as expected, came in second with 65.8% of respondents citing it, with a dirty house coming in third with 61.6%.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/09/20/home-sep20-table-two-big.jpg" title="Click to enlarge"><img src="/images/stories/2013/09/20/home-sep20-table-two-small.jpg"></a>
While it may come as a surprise to renovators, while a good neighbourhood is the most appealing attribute (68.2%), a modern kitchen came in down the list at third, 63.4% and a modern bathrooom was number seven, with 50.2% citing it.
“We undertook the survey feeling confident that we would know the outcome, but were surprised to find some things were not as much of an issue for homebuyers as we expected,” said Aussie’s general manager for marketing and product, Stuart Tucker. 
“It should be a great guide on whether they need to renovate or tidy some rooms, how to dress their house, and an idea of what areas may be beyond their control, like their neighbourhood and location. Also how to prioritise their advertising message with their real estate agent," said Tucker.
“With the real estate market hotting up this Spring, this list should help canny sellers get a head start on the competition,” he said.
Nine Rewards surveyed 1,000 people for this Aussie Home Loans research.
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Biggest buyer turn off might not be as expected

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.

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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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