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A new Housing Industry Association report, Stamp Duty Watch, is looking to provide clarity around how much stamp duty is being paid by home buyers across the country.
In the winter 2014 edition, HIA senior economist Shane Garrett said the report confirmed “how onerous the stamp duty burden is for the long-term financial well-being of ordinary home buyers around Australia”.
Here’s what the typical home buyers are required to pay: (Note: These figures are based on the stamp duty bill on the purchase of a median-priced property for owner occupiers as of July 2014)
<ul>
<li>Victoria - $24,100</li>
<li>New South Wales - $19,230</li>
<li>Western Australia - $17,530</li>
<li>Queensland - $5,600</li>
<li>South Australia - $14,830</li>
<li>ACT - $16,550</li>
<li>Tasmania - $8,535</li>
<li>Northern Territory - $15,950</li>
</ul>
Source: HIA. 
And here’s how it affects the overall mortgage repayments: (Note: This is based on the effect of adding the above figure to a 30 year mortgage term at a discounted variable interest rate of 5.1%)
<ul>
<li>Victoria - $46,400</li>
<li>New South Wales - $37,100</li>
<li>Western Australia - $33,800</li>
<li>Queensland - $10,800</li>
<li>South Australia - $28,600</li>
<li>ACT - $31,900</li>
<li>Tasmania - $16,465</li>
<li>Northern Territory - $30,800</li>
</ul>
Source: HIA
“In all but two of the eight jurisdictions, stamp duty will set buyers back at least $15,000 on the median-priced home,” said Garrett.
“With the exception of Queensland, the tax adds at least 3% to the cost of the dwelling. In Victoria, the typical stamp duty bill comes to some 5% of the dwelling price,” he said.
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How much stamp duty is typical – and how much does this add to your mortgage?

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ASIC’s surveillance program that looks to identify illegal phoenix operators has now been widened to look at the building and construction sector’s use of false statutory declarations.
Commissioner Greg Tanzer said that there had been feedback from small businesses, industry bodies and government agencies that false statutory declarations have been used to claim payments for work.
Tanzer said that there are concerns that some officers of larger companies are falsely declaring that they have paid small businesses contracted to work on commercial and residential projects, when this is untrue.
This will see a focus from ASIC on eight major commercial and residential developments that are currently under construction across the country.
“Falsely declaring that you've paid a contractor has serious flow-on effects in the building and construction industry. Many contractors are small business operators who have operating expenses and debts to pay. When they are not paid for work undertaken it puts their businesses, livelihoods and creditors at risk,” he said. “While false statutory declarations and fraud matters are matters for other regulatory and enforcement agencies, company officers who knowingly make a false statement regarding payments to creditors may find themselves facing criminal or civil action by ASIC,” Tanzer explained.
Administrative action may also be taken against company officers who engage in misconduct, under the Corporations Act. This has seen 60 directors banned in the past year over misconduct involving phoenix activity.
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Eight undisclosed major commercial and residential developments on ASIC's radar

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Melbourne-based development company R.Corporation has acquired a 7,620 square metre former textiles factory site in West Brunswick.
The site, at 8 Olive York Way, West Brunswick, has been vacant since 2000 and is six kilometres from the CBD.
The amenity, direct aspect to transport and Citylink, and the characteristics of the neighbourhood, were noted as reasons for the acquisition, particularly as the latest Census 2011 notes that 30% of Brunswick West residents catch public transport, primarily the tram system.
R.Corp, who developed Clara South Yarra, are expected to imitate their previous project.
This new site is adjacent to 1.4 acres of parkland, which are subject to a $300,000 upgrade by council.
At present they are in development planning stage for what is <a href="https://www.rcorporation.com.au/apartment/the-york-west-brunswick/%20" target="_blank" style="line-height: 1.3em;">expected to be called The York</a>, and include one and two bedroom apartments.
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R.Corp makes West Brunswick acquisition, with residential plans

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A 60% surge of the funds outlaid by foreign investors for Australian commercial property has been recorded, with $5.9 billion spent in the last financial year, according to Savills Australia.
In the 12 months prior the funds totalled $3.5 billion.
Savills’ national head of research Tony Crabb said that the current figures are “unprecedented” and there's more to come.
Asian investors totalled $3.9 billion, or 67%. Meanwhile, North Americans and Europeans made their presence felt, with 18% and 15% of the spend respectively.
“The last 12 months buying activity is off the charts as far as recent history is concerned. It is almost as if they have been dipping their toe in the water, they like the temperature and now they are just diving right in,’’ Crabb said.
Australia’s reputation for stability, both in terms of the political and economic climates, remain the typical drivers according to Crabb.
“What has happened in the last 12 months for foreign investors is that circumstances at home are not as attractive in terms of returns – official interest rates are well below Australia’s - political and economic conditions may not be as stable, and property investment markets may not be as mature as Australia’s including restrictions on domestic investment,” he explained.
“In order to maintain growth and dynamism, companies, developers and investors are increasingly turning overseas to find new opportunities”.
Currently, 84% of foreign purchases are occurring in office markets, with 14% buying retail and 2% industrial. Asian investors make up two thirds of the spend in office markets. In total, foreign investors accounted for nearly 50% of CBD office market transactions in the last 12 months.
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“Unprecedented” 60% surge in foreign investment in Australian commercial property

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Strong sales demand and further house price growth is expected over the rest of 2014, according to ANZ.
In the ANZ Australian Housing Market Update, David Cannington noted that auction sales prices have eased with fewer cleared auctions in all capitals for the past week.
Despite this, demand is still strong and in Sydney the elevated auction clearance rate, albeit on a lower number of auctions, was maintained. Melbourne eased below 65% for the first time in 11 weeks.
House prices are continuing to edge higher, with price growth trend remaining strongest in Melbourne, at 1.7% month on month, followed by Sydney at 1.1% month on month.
Brisbane and Perth have remained largely unchanged.
“Reflecting steady consumer confidence in recent weeks, elevated auction sales in Sydney and Melbourne in particular foreshadow strong sales demand and further housing price gains in the remaining months of 2014,” Cannington’s research explained.
<img src="/images/2014/08/27/anz%20aug%2027%20one.png" alt="">
Source: ANZ.
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Strong sales demand and further housing price gains in 2014 for Sydney and Melbourne: ANZ

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Global property portal Lamudi have shared their 10 tell-tale signs that you are ready to start building a property portfolio.
Here are their 10 indicators to look out for:
<ol>
<li>
You are financially ready You have saved enough for the down payment and you have also established your emergency fund. You have taken into account home maintenance expenses. Your credit history is good and you are able to meet all the financial obligations. 
</li>
<li>
You have set your long-term goals You have a clear picture in your mind of the purpose of your investment and you are flexible enough to adjust to changing circumstances. You are not hesitant and when the timing is right, you are able to adapt to the market needs and the development of technologies. 
</li>
<li>
You have done your research You know the neighborhood of your future property well enough to foresee the coming trends and the possible changes in the community. You have researched all the schools in the area as well as the best commuting means and you are able to predict the next home buyers needs. 
</li>
<li>
You have chosen a stable economy The area is financially stable, economic trends are promising and equities are surging. No demographic fluctuation or no irregular variation of population have been recorded in the area. 
</li>
<li>
You understand the country’s policies regarding real estate The policies of the region promote and encourage a positive, innovative environment as well as drive further economic growth. The tax policy in the country is positive for homeowners. Global innovation index is rising in the area. 
</li>
<li>
Infrastructure projects are underway and likely to lead to an increase in property values The infrastructure of the area is being developed with a focus on: transport, energy, solid waste and water management developments. 
</li>
<li>
The region is moving toward sustainable development The region’s awareness of global and local environmental issues is increasing, the demand for eco-friendly homes as well as for sustainable rural and urban development is rising. As more and more people head toward sustainable living, investing in sustainable property will increase its value in the future. 
</li>
<li>
The location draws a lot of interest Whether it is the best travel destination or the hot jobs spot, the location is always on the top of the search engine. It has become a successful startup hub already or is planning to do so in the coming years, driving a lot of job seekers into the area. The number of enrolled students is increasing every year, the area draws interest of international students. 
</li>
<li>
You have found a reliable real estate agent If you are an overseas buyer, it is particularly crucial to make sure you have a good representative on the ground. Your real estate agent is trustworthy and knows the local market well enough to be able to help you make the choice. 
</li>
<li>
You have researched local differences in the property market Whether you plan to invest in a residential property and turn it into a rental or an office space, you are fully aware of all cultural differences that might occur when you deal with a property seller.
</li>
</ol>
You may want to balance them out with <a href="/expert-insights/buying/the-10-signs-that-you-may-not-be-ready-to-buy">these 10 signs that you may not be ready to buy a property yet</a>.
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The 10 signs you’re ready to start investing in property: Lamudi

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ME Bank has <a href="/expert-insights/finance/me-bank-takes-three-year-fixed-rate-lower">dropped its three year fixed standard interest rate</a> to the lowest offered since they became a bank in 2001.
The  0.10% cut brings the new three year fixed rate to 4.59%. The comparison rate sits at 5.18% per annum. They note that many of the majors’ fixed rates for this period of time start at 4.94%. 
Earlier this month the <a href="/expert-insights/finance/cba-cuts-three-year-fixed-rates-to-4-94">Commonwealth Bank cut their three year fixed rate to 4.94%</a>.
They had also cut their five-year fixed rate to <a href="/expert-insights/finance/nab-and-westpac-meet-cbas-rate-cut">a record low for CBA, at 4.99%, which was soon after matched by Westpac and NAB</a>.
The five year cut for CBA was a 70 basis point adjustment since July 23.
In July, ME Bank's five-year fixed standard home loan was cut to 4.94%, with previous cuts to the three-year product were made in March and April.
ME Bank CEO Jamie McPhee said that we’re either close to or at the bottom of the interest rate cycle.
“The next Reserve Bank rate change is likely to be an increase of 25 basis points in the first half of 2015,” he said.
“Customers will be able to save on their home loan in the long-term by locking in a lower rate.”
Earlier in August, Property Observer recorded that <a href="/expert-insights/finance/attention-shifts-from-rba-to-lenders-71-five-year-fixed-loans-cut-in-a-fortnight">71 lenders had cut their five-year fixed loans</a>, even while the<a href="/expert-insights/finance/a-year-of-record-low-rates-as-rba-leaves-cash-rate-at-2-5"> RBA's official cash rate has remained stable for 12 months</a>.
The question remains now, with the RBA's next movement expected to be an increase: Just how low will the lenders go?
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Record low fixed rates - Who is offering them?

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The former Mooroolbark Primary School site is being turned into a property development of 79 residences by developer Three Pillars.
It will be known as the <a href="https://threepillars.com.au/portfolio-type/mooroolbark/" target="_blank">Central Ave Mooroolbark</a> estate and will bring life to a site that has been vacant since the school’s closing and subsequent demolition in 2004.
On the corner of Manchester Road and Lincoln Road, Three Pillars purchased the land in 2012 with the new houses to be built by Edgepoint Homes.
The first two stages are nearly sold out, with Stage Three released earlier this month.
Remaining allotments include double- and triple-storey townhouses. They vary up to four bedrooms, but all have two-bedrooms with off-street parking.
From $370,000 to $440,000, they vary from 133 square metres to 188 square metres, looking to attract both homebuyers and investors.
Three Pillars’ director Ben Thomas said that families, first home buyers and downsizers are among the interested buyers.
“We are already seeing confirmation of its universal appeal in our sales results, which reveal that 30&amp; of our buyers are first-home buyers, 40% are second and third home buyers and 30% are investors,” said Thomas.
Three Pillars purchased the site from the Department of Education for $4.6 million.
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Former Mooroolbark Primary School site to become 79 new homes

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Vendor discounting, or the amount that a seller reduces their asking price by, is an interesting gauge of what is occurring in the markets across the country.
Property Observer casts our gaze at the latest Real Estate Institute of Queensland statistics, for the June 2014 quarter, and compared them to the June 2013 quarter to see which areas are worse off than 12 months ago.
Note: all figures represent a discount (that is, a negative percentage).
<ul>
<li>Brisbane SD</li>
</ul>
June 2014: 5.7% June 2013: 9.9% Decrease in discounting on last year
<ul>
<li>Brisbane</li>
</ul>
June 2014: 5.6% June 2013: 8.9% Decrease in discounting on last year
<ul>
<li>Gold Coast</li>
</ul>
June 2014: 6.1% June 2013: 12.9% Decrease in discounting on last year
<ul>
<li>Sunshine Coast (including Noosa)</li>
</ul>
June 2014: 6% June 2013: 13% Decrease in discounting on last year
<ul>
<li>Gladstone</li>
</ul>
June 2014: 9.8% June 2013: 9.1% Increase in discounting on last year
<ul>
<li>Fraser Coast</li>
</ul>
June 2014: 7.5% June 2013: 12.8% Decrease in discounting on last year
<ul>
<li>Cairns</li>
</ul>
June 2014: 6% June 2013: 11.6% Decrease in discounting on last year
<ul>
<li>Toowoomba</li>
</ul>
June 2014: 4.6% June 2013: 7.3% Decrease in discounting on last year
<ul>
<li>Mackay</li>
</ul>
June 2014: 8.5% June 2013: 7.5% Increase in discounting on last year
<ul>
<li>Bundaberg</li>
</ul>
June 2014: 7% June 2013: 9.7% Decrease in discounting on last year
<ul>
<li>Rockhampton</li>
</ul>
June 2014: 7.7% June 2013: 9.8% Decrease in discounting on last year
<ul>
<li>Townsville</li>
</ul>
June 2014: 7.4% June 2013: 9.7% Decrease in discounting on last year
Source: REIQ 
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Queensland’s vendor discounting: Which areas are worse than last year?

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The rise of the internet over the last 10 years has changed property investing materially – and the number of free resources that you can access right at your fingertips, any time of day or night, is astounding.
Here are some of Property Observer’s favourite “go to” free websites and resources for pushing your investments that one step further.
<ul>
<li>Google Alerts</li>
</ul>
Much-used and much-loved, <a href="https://www.google.com/alerts" target="_blank">Google Alerts</a> can be set up for news on any area of your liking. Property Observer editor at large Jonathan Chancellor suggested in his speech at the Home Show that setting up alerts for your chosen suburb or locality plus keywords like ‘infrastructure’ or ‘government spending’ are possible approaches to ensure you buy in ahead of the pack. This scrapes local news online, as well as other commentary, and sends it straight to you.
You can set them up to be as frequent or infrequent as you like, all you need to do is send them to your Google account. You may want to also consider using an RSS reader or a bookmarking system.
<ul>
<li>A favourite listings website</li>
</ul>
While it’s suggested that you peruse a number of listings websites (not all agents list on every portal), it’s worthwhile having a favourite that you can check in on regularly. Whether it’s <a href="https://www.realestateVIEW.com.au">realestateVIEW</a>, <a href="https://www.realestate.com.au">realestate.com.au</a>, <a href="https://www.Domain.com.au">Domain</a>, <a href="https://www.Homely.com.au">Homely</a>, <a href="https://www.homehound.com.au" target="_blank">Homehound</a> or another, be active in viewing them.  Property price guidance might come from sites like <a href="https://www.onthehouse.com.au" target="_blank">onthehouse</a>. Keep an eye on areas of interest, new listings in your price range and even how much properties are renting for – this will quickly show you changes in the market, and what is selling. You’ll also get an idea of the active agents in the area. This brings us to…
<ul>
<li>Agent rating websites</li>
</ul>
It’s good to know the active real estate agents you can call and speak to, and potentially list your property with in future. <a href="https://ratemyagent.com.au/" target="_blank">RateMyAgent</a> is one of these sites, that shows you which agents are the busiest and selling the most and provides some localised data.
<ul>
<li>Google Earth and Maps</li>
</ul>
Such an easy portal to use, <a href="https://www.google.com/earth/" target="_blank">Google Earth</a> and <a href="https://www.google.com.au/maps/preview" target="_blank">Google Maps</a> will tell you a huge amount of invaluable information and orientate you instantly. Whether it’s using the Street View portal to get a better look at just how close it is to the main road, and whether you can see any graffiti in the pictures, it can also show you how close the property is to the nearest school, shops, public transport and even how close the suburb is to the capital. This is a first stop when researching a new area.
<ul>
<li>Local tenancy portals</li>
</ul>
If you’re a landlord, then get yourself armed with information. All of the legislation is online, and now there are even hubs that provide guides and assistance for landlords and investors. Consider spending some time on different Tenants Union websites as well, these help quickly show you common renters’ concerns and how you might assist as a property owner. You will also want to have the details for your local tribunal on hand.
Legislation by state and territory:
<a href="https://www.legislation.nsw.gov.au/maintop/view/inforce/act+42+2010+cd+0+N" target="_blank">New South Wales</a>
<a href="https://www.rta.qld.gov.au/About-the-RTA/Legislation" target="_blank">Queensland</a>
<a href="https://www.slp.wa.gov.au/legislation/statutes.nsf/main_mrtitle_821_homepage" target="_blank">Western Australia</a>
<a href="https://www.legislation.sa.gov.au/LZ/C/A/RESIDENTIAL%20TENANCIES%20ACT%201995/CURRENT/1995.63.UN.PDF" target="_blank">South Australia</a>
<a href="https://notes.nt.gov.au/dcm/legislat/legislat.nsf/linkreference/RESIDENTIAL%20TENANCIES%20ACT?opendocument" target="_blank">Northern Territory</a>
<a href="https://www.legislation.act.gov.au/a/1997-84/" target="_blank">ACT</a>
<a href="https://www.thelaw.tas.gov.au/tocview/index.w3p;cond=;doc_id=82%2B%2B1997%2BAT%40EN%2B20140825000000;histon=;prompt=;rec=;term=" target="_blank">Tasmania</a>
<a href="https://www.legislation.vic.gov.au/Domino/Web_Notes/LDMS/PubStatbook.nsf/edfb620cf7503d1aca256da4001b08af/c7f3c6d8118d4bcaca256e5b00213c3d/%24FILE/97-109a.pdf" target="_blank">Victoria</a>
<ul>
<li>Investor forums</li>
</ul>
Investing in property doesn’t have to be a lonely task and that doesn’t mean you always have to spend money to attend groups and meetups. A number of forums exist for you to speak your mind with other property buyers, and naysayers. From <a href="https://somersoft.com/forums/" target="_blank">Somersoft</a> to renovation forum <a href="https://forum.homeone.com.au/" target="_blank">Home One</a>, whatever your investment tastes there’s something for you. A number of industry experts are often also online and able to answer questions via the forums.
<ul>
<li>Television re-runs</li>
</ul>
Missed that episode of <a href="https://www.jump-in.com.au/show/theblock/glasshouse/?ocid=blocksem" target="_blank">The Block </a>that everyone’s discussing (it gets tense when it’s up against My Kitchen Rules)? Or want to get some background on <a href="https://www.lifestyle.com.au/tv/location-location-location-australia/" target="_blank">Location Location Location</a>? They stream them through their websites, and at least include past seasons for you to get your fix.
<ul>
<li>Brand new and coming soon resources</li>
</ul>
The <a href="/news/new-free-online-tool-for-property-industry-welcomed-by-hia">National Building Code of Australia</a> will be freely available online as of next year under new changes - great news for owner builders and anyone considering a structural renovation. And, in the last year, we've seen a crop of new websites offering useful assistance in all areas of investing. Genworth launched their <a href="/news/genworth-australia-launches-free-online-lmi-toolkit">LMI Toolkit</a> in November last year, and <a href="/news/can-this-algorithm-determine-what-a-bad-property-is">new website and app realAs</a> believes they have the algorithm that will accurately determine what a property will sell for (with a success rate of usually within 5%). Another startup, <a href="/news/act/new-website-allows-owners-to-advertise-their-intention-to-sell">Next For Sale</a>, allows potential sellers to list before they are actually sellers.
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Eight free online resources that every property investor should know about

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

Joel Robinson

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.

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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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La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

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The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

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<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

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Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

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Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Jennifer Duke

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