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Property owners with apartments are being urged to look towards solar power to help reduce power bills in unit complexes, with body corporate committees showing signs of reluctance, according to Archers Body Corporate Management.
With solar a potentially viable option for reducing personal and strata energy costs, director of Archers Body Corporate Management, Sharon Withford, said that unit owners need to have a defined approach before approaching their body corporate.
“System cost is often the most disputed factor among unit owners in the solar decision-making process,” Withford said. 
The committee should investigate and shop around for the best price and system available and then recommend the appropriate system for approval at a general meeting, she said.
“The committee needs to be thoroughly involved in this research and must work to keep all owners informed of the benefits of solar to the building.”
The placement of panels, structure and aesthetics in a range of weather conditions are absolutely crucial considerations.
“There have been cases where the weight of the panels or the method of attachment has been detrimental to the building and panels have come unstuck in wild weather," she said.
The savings results of implementing solar power can significantly vary.
“The pay-off period can vary quite dramatically based on system size and the building’s total energy usage.
“To find the right system for your complex, it’s best to contact a solar provider and obtain a proposal that’s tailored to your building," Withford said.
Top questions to ask when looking to install solar:
·	What system is the best for your building, including the type and size of solar panels?
·	Will the panels or system affect the aesthetics of the building?
·	Will the system be covered under the body corporate’s insurance policy?
·	What is the warranty on the system?
·	Does the system need to be maintained? If it does the body corporate may need to implement an annual maintenance plan to keep the system maintained.
·	What is the lifespan of the system?
Source: Archers Body Corporate Management
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jduke-EHk3XBmHkn

Unit owners encouraged to look at bill-reduction techniques

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With other cities around the world clearly presenting a trend towards apartments, current predictions are that this will increasingly be the case in Australia’s cities.
With tenants and owner occupiers becoming increasingly comfortable with living in higher density dwellings, particularly with younger generations aspiring to live nearer to the cities, apartments are becoming a clear long-term investment opportunity, founder of Investorist, Jon Ellis, told Property Observer.
“Look for well-priced very livable apartments in good areas and consider them for the long term,” Ellis said.
While investors have been hearing of concerns about oversupply in apartment-heavy markets, such as Docklands in Melbourne, Ellis said this view is flawed.
“Looking at an area and saying its oversupplied is problematic. I've worked on projects in Docklands now for over 10 years and I've seen oversupply issues for short periods of time,” he said, noting it is the norm for the area.
Those buying into this type of a market in a speculative fashion are likely to find themselves burnt, he said.
“People who had the investment strategy, that I believe is more sensible, for long-term growth have done extremely well,” he said.
He also noted that there has been some talk of South Yarra being oversupplied.
“But I don’t believe it is,” he said. With transport links, educational facilities and desirable aspects such as proximity to Chapel Street, it is on his list as being a good long-term pick.
“The fundamentals of Melbourne are so strong. People want to move here. We need somewhere to house these people and they’re becoming more accustomed to apartment style living,” Ellis said.
When looking at off the plan properties, he has the following advice:
-          Consider the opportunities for others to develop around you. Particularly if these developments increase supply, erode your view or negatively affect your existing condition
-          Ensure you have the reputation of the developer in mind
-          Consider seeking advice of a buyer’s agent if you want to avoid going from display suite to display suite
With the market set to pick up now we are in a post-election market, Ellis said that he expects off the plan properties will become more popular and sales will increase. 
Investorist provided the following infographic about their expectations for a market pick-up.
<img src="/images/stories/2013/09/12/gov_hart.png" alt="gov_hart" width="470" height="942">
Source: Investorist
 
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The trend towards apartments is strong: Investorist

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When it comes to hotspotting and the concept of finding a suburb that’s going to boom in value quickly, not every expert is on side.
“Hotspotting is a bit of a myth. Don't get caught up,” EPS Property Search’s Patrick Bright said to Property Observer.
“Generally when something is written up as a hotspot it's too late. Once the media has a hold of it, generally it's a bit late,” Bright said.
He warns that often when areas are written up for growth they can be just consistent and very clever PR from developers and those with vested interests in the areas. As a result, investors should undertake research into specifically who is pointing to an area as being a hotspot as well.
“I've seen areas in magazines and newspapers and suburbs and locations being talked up for weeks if not months and then all of a sudden there’s a new development for sale and that area has had very clever several weeks and months of brand building, if you like,” he said.
“All of a sudden there's a new development to buy into and a stampede of people buying into these areas and you have to wonder why.”
Referring to Property Observer’s recent analysis on the <a href="https://www.propertyobserver.com.au/news/magazine-top-50-suburbs-two-years-on-show-moderate-gains-and-a-few-misses/2013082663915" target="_blank">poor performance of top property investing magazines’ hotspotting</a> where there were some clear misses and moderate growth, he warns that too many investors are hoping for this instant growth equation.
“I'm a conservative investor and I have a couple of rules. Number one is a preservation of my capital; number two is the return on it.
“Above average return or an area that supposedly will perform well above average that signals alarm bells,” Bright said.
“There is no such thing as return without risk. Logic and mathematical formula of time, ask anybody with half a clue about investing and they will accept that the higher return possible the higher the risk.”
He also said that a lot of investors are hoping for sudden growth full stop, and the one single deal that will make them wealthy.
“They look for one transaction they will get rich out of quickly rather than a dozen smaller ones that they will benefit from over time,” he warned.
Today’s hotspots may very well be next month’s ‘coldspots’ and for the true hotspots investors shoul be looking long-term, he said.
“What's the long-term infrastructure? Why is it suddenly a hotspot and what will make it worth holding in five or 10 years’ time? What I look for are locations that show good history,” he said.
He points to a number of criteria for his investment choices:
- Regentrification of older established areas;
- Inner to middle ring of capital cities where there are lots of jobs (but not the heart of the CBD);
- Good infrastructure, preferably an area that is earmarked for further infrastructure (but don’t bank on ‘planned’ infrastructure until they start turning the soil’);
- Landlocked area where supply cannot be easily increased either up or out into new estates or highrises. This may be areas with tighter controls or restrictions to development or areas bound by geography such as coastal areas;
- A rising population in the future (just because it is rising now doesn’t necessarily mean it will not plateau or decrease).
“If you hear the word ‘boom’, the next question is ‘How long with it last?’,” he said.
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A word of caution about hotspotting: Patrick Bright

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Hotspotting is as much about a mindset as it is about spending days looking at statistics and spreadsheets, and the two approaches are powerful in combination.
Empower Wealth's Ben Kingsley sat down with Property Observer to provide an insight to his philosophy of finding the next suburb to grow in value, particularly in terms of longer-term areas.
He describes some of his philosophy and theories around hotspots here:
{qtube vid:=rsxsylMcdOo}
Kingsley explained that research is a crucial part of his company's hotspotting method, and is the first point of call when it comes to analysing the 15,000 or so suburbs across the country.
By starting with the data, it helps save time that would otherwise be spent trawling the marketplace.
"We do a lot of skimming of different websites for data, so we have someone full time at the business collating the data. Some of the bigger data, batches we're looking for, such as things like clearance rates, we spend a lot of time analysing," he said.
However, it's not on a broader suburb level. Investors must dig right down into the types of properties and number of bedrooms when looking at clearance rate statistics if they are to make the most of this real-time indicator of demand.
"Broadly speaking, supply and demand indicators such as stock on market, vacancy rates, and those types of indicators are worth looking at. 
"But as we drill down to the more scientific stuff we start looking at the socio-demographics of an area, the makeups of the households, the incomes and the level of education that those households have," Kingsley said.
Having buyer's agents in the field is one way that they confirm their suburb choices. After rolling through the data to identify key drivers, they receive feedback from their team on a daily basis as they are out buying for clients.
"There's anecdotal and real life evidence that supports our analysis," he said.
Testing hotspot theories is also important, and back-testing can also help explain whether an area will add-up. 
"So we might take census data from 2011 and 2001 and see if areas changed as anticipated, so did the income we forecast materialise in those areas?  It's hard."
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The psychology of hotspotting, exclusive interview with Ben Kingsley

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Finding a real estate agent to sell your property can be quite a difficult task, however there are steps that can be taken to quickly gauge the best in an area, explains managing director of Vengent Australia, Marcus Gould.
As a company who look to find the best agents for vendors, Gould undertakes two types of research that he said investors should be doing themselves as well.
"Agents these days are chosen on the individual and not the business," Gould told Property Observer.
While some are more comfortable heading to a larger franchise, he said that it is usually the case that a vendor will head to numerous agencies before picking the real estate agent they preferred.
In fact, there's a far savvier way to approach this process.
"We assess the number of properties avaialbe for sale and then cross check against what has been sold in the last six months and then see the list to sale ratios of agencies that operate in that area.
"This give us a basic idea of any discounting that may be occuring and an assumption about who may be overpricing to get a listing," he said.
They then use average days on market details, from providers such as APM and RP Data, and compare them to the results being seen by individual agencies, and combine it with other key performance indicators.
It then comes down to assessing a specific agent and their response system.
"That's like secret shopping style emails. We can see how quick the agents respond to the email and, if they respond at all, the quality of the response," Gould said. 
Worryingly, just 48 per cent of the time agents respond within the 48 hour timeframe necessary to be chosen.
It's also crucial to undertake open home research, heading there to determine the presentation of the agent, the property and the agent's response to the potential buyers.
Marcus Gould's top tips for sellers looking for the best agent:
Find out how the agent will best protect your price: You're looking for them to say that they'll work openly with you and the buyers, and will create trust with these buyers.
Ensure they understanding marketing: Have a look at how they have presented other properties in the past. 
Ask about their ongoing training and industry education: This is especially important when it comes to their negotiation skills, so you'll want to know that they're learning regularly.
Longevity in a suburb and good knowledge of the area is important: If you're knowledgeable, ask them some questions to check how much they know and can tell you. Find out if they live in the area, and how long they have been operating there for.
A solid and provable track record of premium prices: You want them to be able to demonstrate that they can achieve more than what they are quoting in the price bracket. Many vendors choose the agent who provides them the highest price quote, yet you should be looking for a realistic quote.
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Choosing the best real estate agent

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Since an opinion piece published by Property Observer last week, where one buyer's agent said he'd stay clear of the National Rental Affordability Scheme, another buyer's agent has come out against NRAS properties.
Last week, Todd Hunter, buyer’s agent, director and location researcher for Sydney-based wHeregroup, said that he would "<a href="https://www.propertyobserver.com.au/news/id-rather-stick-a-fork-in-my-eye-than-buy-nras-todd-hunter/2013090464795">rather stick a fork in his eye than buy NRAS</a>."
Now Propertyology's managing director, and Australia's Buyer's Agent of the Year in 2012 and 2013, Simon Pressley,  told Property Observer that he believes that NRAS properties are "terrible investments".
"NRAS is something which has attracted considerable air play and clients often ask me for my opinion on them. NRAS was introduced in July 2008 as part of the Federal Government’s (GFC) building industry stimulus package. It was designed to give the building industry a boost and address the growing shortfall of affordable accommodation. It is a not a property investment scheme," Pressley said.
“There are tax incentives for developers on projects which meet specific NRAS criteria. Similarly, there are tax incentives of up to $9,140pa to property investors who elect to buy one of the NRAS properties," he said.
Pointing out that on the face of the scheme, the rental returns and tax incentives look great, he believes otherwise.
“If they were such good investments why wouldn’t the federal government themselves hold on to them? Or, the state government? Or, the local councils? Instead, the government is trying to lure investors via tax incentives and rental guarantees on properties that are over-priced, mass-produced, and offer very limited capital growth potential," he said.
He warned that marketing companies promoting NRAS on behalf of developers often lead with 'positive geared' and 'rent guaranteed' tags.
“I give NRAS properties a big “Buyer Beware”! Whether it’s a new housing estate or a large apartment block, owners of NRAS properties must have their property managed by NRAS agents and the properties can only be rented to NRAS eligible tenants."
He pointed to property management fees around the 13% mark, compared to 8.5% for standard residential, rents at a 20% discount and "quite involved" lease documents diluting the extra tax incentives.
“A number of banks are not comfortable lending money against NRAS properties. The banks which are comfortable with them require a minimum 20% deposit because mortgage insurers will not accept the properties," he said.
“Now, picture this, you purchased a NRAS property a few years ago and an investor within the same complex or estate as yours now wants to sell. The extra red tape and constraints imposed on owners will result in less interested buyers for the property. They certainly will not be in a position to attract a premium sale price and will probably have to discount the price substantially in order to move on. The minute this sale occurs a benchmark has been set for valuers and potential buyers of your property.  In addition to all of this, the fact that NRAS properties are located within large (mass-produced) complexes and estates places an additional ‘ceiling’ on capital growth.”
<hr>
Do you have a different view on NRAS?
Email: <a target="_blank" href="mailto:%20jduke@propertyobserver.com.au">jduke@propertyobserver.com.au </a>to have your say
Corrections from Simon Pressley:
I am currently purchasing an NRAS property with 10% deposit off from a large financial institution
If you want to sell you can opt out of the NRAS scheme if desired to "attract more buyers".   
You are not locked in for the full ten years in any way
 
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Another expert comes out against NRAS

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There are some simple ways to get your offer accepted and to negotiate effectively, however many investors are not aware of them, explains a real estate author and buyer's agent.
EPS Property Search's director, Patrick Bright, said that  investors trying to secure the property they currently have their mind set on should consider attached a 10% deposit cheque to a signed contract.
The powerful incentive of the signed check should leave a reluctant vendor with a powerful incentive to accept, even if the offer is below the asking price.
“It’s a very persuasive strategy,” said Bright.
“The vendor’s looking at the cheque filled in for the 10% deposit and it can be extremely hard to give back," he said.
There are also a number of negotiating tips that will assist you to push that offer across the line.
Bright provided his top four tips:
1)  Never disclose your budget to the selling agent
Once they know your budget, the selling agent will do everything they can to extract every cent out of you, especially if they haven’t reached the reserve or the vendor’s bottom line yet.
2) Never let the agent see you fall in love with the home
A few rules I tell my clients before we inspect a property is not to talk about the property until we leave. Don’t make comments or talk about the property while we’re there and don’t answer the sales agent’s questions. You could save yourself several thousand dollars by just keeping quiet.
3) Always put your offer in writing
By law, the agent must communicate all offers to the vendor but this doesn’t always happen especially if the agent considers the offer ‘too low’. If you put your offer in writing there’s much less chance of the agent putting it to one side. If there’s written evidence of an offer it’s easier for the agent to get caught out if they don’t pass the offer on to the vendor.
4) Never let the agent know if you are motivated to buy
When you’re going to open homes and talking to sales agents on the phone always play the indifferent buyer. Never let them know what your motivation is to buy. If they know you’re in a tight situation they’ll use that information to negotiate with you, just as you will use your knowledge of how motivated the vendor is to sell to your advantage. If you’re buying property with your partner, it’s a good idea to let one person do all of the talking with the agent.
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How to get your low offer accepted

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New statistics have revealed that for the past three years, more than half a million borrowers have left their lender for a better home loan deal, according to the Australian Bureau of Statistics (ABS) and finder.com.au.
Looking at the past three years, from June 2010 to July 2013, 560,965 borrowers moved from their lender - this works out as one in five households since June 2010. 
During July 2013, the highest number of loans were refinanced since April 2008 at the height of the GFC, with 18,056 recorded by the ABS.
Spokesperson at finder.com.au, Michelle Hutchison, said dissatisfaction with lenders does not come as a surprise.
"You'd think most borrowers would sit back and enjoy their extra savings coming in from lower interest rates, but this isn't the case," Hutchison said.
With eight cash rate cuts since November 2011, a total of 2.25%, comparing a 7.5% and 5.5% rate over a 30-year term on a typical $300,000 loan it equates to $400 less in repayments.
"With mortgage season now in full swing, it's a great time to refinance if you're in the right position to do so. This is the busiest time of year for lenders and they are competing harder for new customers, so it's worth checking what's out there and finding out how much you can save," she said.
If you're choosing whether or not to refinance, finder.com.au has a number of suggestions
Refinance if:
You have more than 20% equity - so you won't have to pay lenders mortgage insurance
You have a variable interest rate
You found a better home loan with lower rates and/or fees
Your loan was opened after July 1, 2011 so you won't be charged early exit fees (these were banned from this date)
The charges for exiting your old loan and starting a new one will be recouped within the first 2 years
Don't refinance if:
You have less than 20% equity - otherwise you will have to pay lenders mortgage insurance again
You have a fixed interest rate - most come with hefty break costs
Your loan was opened before July 1, 2011 - you may be charged hefty early exit fees
The charges for exiting your old loan and starting a new one won't be recouped within the first 2 years
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More than half a million switch lenders

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Teams and leveraging off of the expertise of professionals is absolutely crucial, particularly when it comes to the complexities of property investing.
Having a team with a number of professionals, such as a mortgage broker and investment adviser, ultimately helps investors head for success. While we've previously discussed <a href="https://www.propertyobserver.com.au/residential/how-to-build-a-successful-property-investment-team-melissa-opie/2012071054297" target="_blank">how to put a team together</a>, it seems finding the best experts is still difficult for many.
Property Observer's most recent poll has found that the majority of respondents use recommendations and referrals to determine whether or not to trust an expert with 50% selecting this option.
References and testimonials came in second, with 17.2% selecting this item - closely followed by 12.1% who use forums and 10.3% who mainly rely on a general Google search. Just 6.9% pointed to ASIC/Fair Trading/other government site with 3.4% selecting news websites.
<img alt="poll-results-sept-10" height="325" width="470" src="/images/stories/2013/09/10/poll-results-sept-10.jpg">
The Property Investment Professionals of Australia (PIPA) chair, Ben Kingsley, provided Property Observer with their top three guidelines to ensure you are speaking to the most reputable expert for your team.
Their three guidelines:
1) Are they ‘formally Qualified’ to property investment advice?
2) Ask how are they being paid?  If it’s a fee for service the consumer know upfront, if they are being paid by the developer, builder or marketing company, then they must fully disclose all their fees, including any hidden fees, commission or kick backs between businesses.  Consumer must be fully informed before making their judgement as to whether they are working in their (the consumers) best interests or their own.
3) Are they promoting one set strategy or way to build so called wealth.  If so, the consumer must ask themselves is this best suited to my personal needs, meaning is it a tailored solution to their needs or are they being ‘sold’ a so called ‘only way to wealth’ set model.
Which experts are most crucial to you in your investing team?
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Creating your investment team

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Property investors who are relying on real estate agent's comparables are in trouble when it comes to purchasing at fair value, according to a renovation expert.
Renovating for Profit's Cherie Barber told Property Observer that she sees real estate agents using inappropriate comparables all the time to justify the price they want the buyer to pay, and it's those who trust them that will get bitten.
"With my level of research I have specific details about a property, whereas agents will quote a price for a property that has sold with the same bathrooms and bedrooms, but makes no mention about the interior condition or quality," Barber said.
Selective choice of comparables leaves buyers vulnerable to aspects that are ignored, such as the slope of the block. 
"If it's a level block comparable and the block you're looking at is sloping, then you won't know," she said.
Even the number of rooms is up for debate. Ensure that the four-bedroom property you are looking at, and being given comparables for, isn't really a three-bedroom with an oversized study.
"Most people dont have that level of detail and are benchmarking on number of bedrooms and bathrooms," she said.
The difference can be tens of thousands of dollars, depending on the suburb. In Sydney's Balmain for instance, Barber points out that there are six distinctive price pockets. In the majority of suburbs there's a minimum of two - often called a 'good side' and a 'bad side' to the suburb.
Property investors must ensure they are not being given comparables in the more expensive areas.
"A lot of people put far too much trust in [real estate agents] than they should. The agent is working for the vendor. Most are very friendly to the buyer but really they're screwing you over so to speak. You need to remember that that's their job - to get the best dollar for the vendor."
If you're relying on their comparables, then you're off the mark.
"You should have the knowledge yourself. Otherwise, your in trouble," she said.
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Real estate agents presenting inappropriate comparables

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."

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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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