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A sell out of their latest release of 35 homes in CityVillage, in Queensland’s Robina, has seen Robina Group push forward another wave of properties.
The $200 million project has already seen almost $62 million in sales across their two Robina projects – <a href="https://www.cityvillage.com.au/" target="_blank">CityVillage</a> and Riverlily. After the 35 homes in CityVillage sold out in March, in two days for $16 million, they are pushing another 33 to market.
The Riverlily terrace homes, which were launched in April, also saw strong sales. Currently just a few terrace properties are left from $449,000. Meanwhile, this latest CityVillage stage – number four- includes 33 three-bedroom properties. This includes 20 that are waterside homes from $529,000.
The first tri-level homes in the development, with ground level courtyard and a balcony, are also being sold in this release.
<a href="/news">Robina’s median house price is $525,000</a>, while the median unit price sits at $410,000, according to RP Data.
Robina Group residential sales manager Azura Griffen said that many buyers missed out in the early stage.
"The level of interest in property in Robina is only continuing to rise and we've been fast tracking the design and construction of our developments just to keep pace,” said Griffen.
"Robina is a highly sought after residential address because of the unparalleled mix of amenities on offer literally at the doorstep, including Robina Town Centre, schools, Hospital, Bond University and Cbus Super Stadium, and its relative ease of access."
In total, CityVillage will have 130 terrace homes over four hectares.
If you're marketing off the plan, you should consider signing up to the <a href="/news">Property Observer/Investorist free webinar off the plan marketing masterclass</a>.
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jduke-EHk3XBmHkn

CityVillage, Gold Coast extends release after sell out

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A generational shift may be coming that will substantially alter the property market, according to Club Plus Super. But what that shift is may catch you off guard.
Club Plus Super’s chief executive officer Paul Cahill says that the current structure of superannuation will see many Australians forced to sell the family home to fund their retirement – and move in with their children.
Modelling undertaken by the company has shown that a 65 year old person’s super balance will likely be dried up after just six years in retirement.
This matches an Association of Superannuation Funds of Australia report that saw the majority of Australians relying on modest levels of superannuation, with many retirees relying on the Age Pension. A Club Plus Super survey also discovered that while more than 50% of the 843 respondents understood the funds needed to retire, just one third were making extra contributions.
“This system and the sheer scale of Australia’s rapidly aging population will potentially see hundreds of thousands of retirees run out of funds and not be able to enjoy the retirement they envisaged,” said Cahill.
What will then potentially be seen is a system where retirees sell their large properties, unlock equity and then either rent, downsize or move in with their children.
“These trends could significantly change the dynamics of Australian families, the Australian property market and the Australian economy,” he said, pointing to moving in with children as the most cost effective option for many retirees.
He says that either Australians need to make additional contributions to grow their superannuation, or the government need to overhaul the system.
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The generational shift set to alter the property market: Club Plus Super

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Here at Property Observer we talk a lot about buying your first investment property or home, getting your foot onto the ladder and the mistakes you may make earlier on.
However, for many property buyers it’s about planning for a portfolio of properties – rather than just the first one.
For today’s Q&amp;A we spoke to Wakelin Property Advisory’s associate director Jarrod McCabe and asked about how crucial that first purchase is and where it fits in to building a portfolio.
If there are any questions you’d like to see answered, or experts you’d like to see asked, email us with your thoughts: <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>.
What type of property should first time investors be looking at?
Typically, a first-time investor has bought their own house and has some equity in that property. Usually they are employed and have identified some surplus income they feel they would like to invest rather than consume. Often the investor has time on their side – they have 10 or 20 years or more until their envisioned retirement date – and so they are investing for the long-term.
Under these circumstances, a first-time property investor should be seeking a property that is likely to deliver strong capital growth. It is the year-on-year compounding effect of this growth that will deliver the return they are after. 
How crucial is the first investment property to building a portfolio?
The first property is vital.  Get this right and in a few years it will generate sufficient equity to finance the addition of a second property.  Ideally the aim is to repeat this process a number of times.  But if the first property is a dud it won’t deliver the equity to go to stage two. Instead, the investor is stuck with a non-performing asset.  Their best move is then to recognise the error, sell this property quickly and start again. 
However, invariably it takes several years before the investor faces up to the reality of their situation. Not only do they lose thousands of dollars in transaction fees and forgone capital growth, but they lose the most valuable and irreplaceable resource of all – time.
What does the 'perfect' portfolio look like? 
A perfect portfolio would consist of a number of assets situated across a number of blue-chip suburbs in one or more of our larger capital cities. There would be a balance of one and two bedroom apartments in the portfolio as well as a number of single fronted period cottage or terrace homes. 
All the properties would be older-style and be situated on attractive, leafy residential streets with good proximity to local amenities. The apartments would be in smaller boutique blocks with allocated off-street parking.  There would be a range of architectural styles including Victorian, Edwardian, Art Deco, and 1950s through to 1970s.
What does it mean when people refer to “diversifying” their portfolio?
Diversification – not having all your eggs in one basket – is of course just as valid for property as it is for other asset classes. 
In the ‘perfect’ portfolio above, this is achieved in a number of ways: selecting both houses and apartments, selecting one bedroom and two bedroom properties; mixing up the architectural styles; and by selecting properties in different suburbs – and possibly different cities.
But you can over-diversify, if that means compromising on other investment criteria such as sticking to property with scarcity value. So I wouldn’t recommend buying a high-rise property just so I can claim diversification.  One also has to weigh up buying property outside your own state in order to achieve diversity against the increased uncertainty that comes with investing in a less familiar place.
See over page for more on building a portfolio, knowing when to stop acquiring properties and whether or not you should sell.
<hr class="system-pagebreak">
How quickly should a portfolio be built?
Property investment is not about how many properties you have. Rather it’s about building equity. Only invest in the next property when you have the equity to do so and the spare cash-flow to finance it.
How do property investors know when to stop acquiring properties?
Eventually investors recognise they have reached a point when they have achieved their financial aim or they are at a life-stage when they no longer wish to accumulate assets but reap the benefits of those assets.
Do you believe in 'never sell'?
‘Never sell’ is a good state-of-mind to have when investing. It’s the attitude that these assets are locked away for the very long term; that the investor won’t be selling if the property market has a cyclical fall and that they are determined to accept a lower disposable income today in return for greater rewards tomorrow. It is also a recognition of the very large costs involved in property transactions. Of course, this is all predicated on buying quality assets in the first place.
But naturally, life does not always go to plan, and there may be personal reasons why one would sell. 
How do you judge the success of a property investment portfolio?
It probably takes a few years before this can be done. A successful property investment portfolio is one that repays the sacrifices made in the early years of ownership to establish and nurture it. It does this by generating enough rent to not only cover all costs, but to pay out a healthy income on top. It also continues to grow in value every year. And it is so well managed by your advisers that it require little input from the owner.
Any ideas for a Q&amp;A you'd like to see? Email us: <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a> 
For more Q&amp;As, click here.
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Building a well-structured portfolio: Q&A with Jarrod McCabe

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Vendor Paid Advertising, or VPA, is a term that affects you when you’re selling your home directly, and yet isn’t often discussed in the consumer space.
Essentially, it’s the advertising that is done to sell your property, usually decided upon or discussed with you through a real estate agent. When you’re the one footing the bill, it’s “vendor paid”.
This counts for anything around advertising your property – a signboard, the cost for listing it on a website, newspaper advertisements, and so on. And it comes right out of your pocket. For this reason, you’re right to be astute about what is spent, where it gets spent and the results of your payment. You do not have to agree with a real estate agents approach, particularly when it is your own money on the table. If you want to solely market your property in one form, or ignore print advertising, then that is your decision.
When you give your funds to an agent for vendor paid advertising, they should be put into a trust account. You also have the right to be given receipts for this as well, to ensure the money is spent on what you are paying for.
In fact, vendor paid advertising is now so common that most people will pay for it without thinking about it.
The ongoing debate
There are some vocal commentators against the concept of VPA, as well as some real estate agencies that already practice it.
Earlier on in the debate was <a href="https://www.jenman.com.au/BS_Advertising.php" target="_blank">Neil Jenman, who said that this is a system designed to “dupe” home sellers </a>into “spending millions of dollars on unnecessary real estate advertising”.
“Since the introduction of [VPA], real estate advertising has reached record levels. There is now approximately twenty times as much advertising being done, yet there is no noticeable increase in the number of sales being made. In fact, in most areas, the number of home sales is declining,” wrote Jenman.
“Agents rarely advertise to attract buyers. The buyers are already in the area. Think about it. What is the one thing all home-buyers do before they buy in an area? They come into the area. They choose the area and then they choose the home.
“Take the advertisements away and the buyers won't disappear. Homes would still be sold because buyers would do what they have always done – visit an area before they buy.
“Granted, advertising brings some buyers to an area. But, again, the questions must be asked: At what cost and at whose cost?”
While, <a href="https://eliteagent.com.au/blog/2011/10/04/vendor-paid-advertising-yes-or-no/" target="_blank">Real Estate Mastery’s Terri Cooper told Elite Agent that VPA helps agents</a> determine the motivation of the seller, attracts buyers, builds your profile, takes away any conflict of interest the agent has if they pay for the advertisements (that is, looking to sell quickly to recoup loss) and attracts new clients. It appears Cooper sees it as a win-win for the agency and the buyer.
In <a href="/expert-insights/investing/its-ancient-for-agents-to-ask-vendors-to-spend-thousands-on-print-advertising-terry-ryder">March last year, observer Terry Ryder wrote</a>, “I have published four books on the real estate industry, the first of them in 1998, and they have all warned sellers to avoid agency pressure to spend thousands on unnecessary newspaper advertising.”
“If you’re selling your home and your agent tells you that you need to budget thousands for newspaper advertising, you have appointed the wrong agent. Sack them and find an alternative that has buyers looking for property in your area and therefore doesn’t need to waste your money on advertising,” he said.
Just Think Real Estate's Edwin Almeida also believes that VPA is <a href="/expert-insights/agents-pull-your-heads-in-about-commissions-you-re-getting-more-not-less">just costing the sellers more, often not receiving any better results</a>.
How much is being spent?
Figures vary dramatically from property to property. RealEstateMentors note that <a href="https://www.realestatementors.com.au/real-estate/vendor-paid-advertising/" target="_blank">of their Future of Agents Commissions 2010 survey</a>, 55.2% of agents were spending more than $1,000 to market/advertise a listing, which they deduced meant that many were therefore getting VPA to enhance marketing campaigns. Some, however, include marketing within their overall fee.
Of those in their survey, 28.1% noted $501 to $1,000. Then, 21.9% said $1,001 to $1,500. In this same stage, sellers were increasingly being noted as reluctant to pay VPA due to the rise of the online space and the marketing that can be done online. Many people consider online advertising to be cheap or even free, increasing the number of agencies absorbing the costs of listings websites themselves.
VPA has long been sought out by agents - in 2011, the REINSW ran a course entitled Winning listings and vendor paid advertising, that described itself as the following:
"Every agent wants more listings, more sales and more profit. They also want more vendor paid advertising. This course will show you how you can unlock your creativity and create a better campaign to produce consistently better results!" Much of this did also revolve around using advertising more effectively.
Pros 
<ul>
<li>You have more control over what you allow the agent to do if you are paying for it upfront.</li>
<li>Agent will not be encouraged to rush your sale to recoup losses.</li>
<li>Splashier marketing campaign than you might get from solely relying on the agency's funds.</li>
<li>The agent knows whether you are motivated or not.</li>
</ul>
Cons 
<ul>
<li>Can be said to advertise the agent, not just your property, using your own funds.</li>
<li>If you can't afford it upfront then it can be tricky.</li>
<li>Expensive - and despite increased control, the agent may try to encourage you to spend in a certain way.</li>
<li>If the property doesn't sell, you may find yourself paying out increasing amounts.</li>
<li>What other pros and cons would you add to the list?</li>
</ul>
Note: Overseas, the term VPA may refer to a "Verified Professional Agent".
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What is VPA? Investment terms explained

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It was the Sydney Home Buyer and Property Investor show over the weekend.
It is indisputably one of my favourite yearly events as familiar faces are brought into the one room to speak to the people we write for and educate all year round.
Every time I attend, I am struck with how it reflects the trends in the housing market – a microcosm of what is currently happening on a wider scale. Each city reflects the confidence in that area, for instance this time round I was told by Right Property Group that they saw more activity on the first day of the Sydney show than they did the entire time of the Perth show, an observation that many others conceded to be correct. This is no exact art, and yet it proves surprisingly accurate each year.
The trends in what is “en vogue” for investing itself are also present for those keenly observing. Where mining towns were once the dominant theme of new exhibitors, and then the United States, China, granny flats and self-managed super funds, this year there was little of any particularly new theme. There remained one company that appeared to be pitching to Chinese investors only – speaking to them in their own tongue, and there remained a granny flat builder, selling it more to those interested in the services than pitching it as an investment solution.
I didn’t note a single US property guru. In fact, it seemed to be that the exhibitor list was slightly whittled down to a core of those who have been in the market for a long time. While I wouldn’t spend money with every person on the exhibitor list, for a number of reasons, there are many on there that I respect.
<img src="/images/2014/07/21/home-show-july-21-two.jpg" alt="">
While there are a huge number of new companies deserving applaud for the ground they are breaking in property, and their education offerings and ethics, the “test of time” is still one of the better gauges for success in the property industry – not in the least because property is a long-term asset, and it’s expected that good experts are able to retain a good name and deliver on their predictions and offerings over this time. We see many new companies and trends come and go, but solid investing principles and ethics see the same businesses stay in the game year after year as past exhibitors vanish or hang on with blackened names.
I was also struck by one other detail – the increasing concern and diligence of the public. Spending some time over at the Property Investment Professionals of Australia stand, where they have a petition for regulation of the industry, I heard people say that they felt ‘overwhelmed’ a number of times and sign the petition willingly.
<img src="/images/2014/07/21/home-show-july-21-three.jpg" alt="">
This article continues on the next page. Please click below.
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In the past, explaining the dangers of the industry, many attendees were surprised.
This time, it seems the message is getting through – be prepared, do your research, don’t hand your money over without your due diligence. The “splashy” sales pitches of the past, with huge price gain claims, seemed to be less common.
When listening to my editor-at-large Jonathan Chancellor’s speech on the resi stage, where he spoke about the difficulties of investing using mining town Zeehan in Tasmania as his example, the crowd furiously wrote down notes. He said that he wasn’t trying to put anyone off the property market, but rather off the idea that it is easy, that it’s fast money and that it doesn’t require hard work from yourself as a consumer.
<img src="/images/2014/07/21/home-show-july-21-one.jpg" alt="">
Providing his research tips, some of which he has taught myself and the editorial team for the way in which we look for stories (setting up alerts for announcements about infrastructure, for instance), I felt very proud of what the industry is achieving, and also for the increasing sophistication of investors and home buyers.
Now, more than ever, we are sent in detailed questions from readers who don’t want to just know “what” something is, but how to use it themselves. They don’t always want a hotspot list, or to be handed a property on a plate – although these are useful and fun in their own ways. They want to equip themselves with the skills to do the research themselves, or to at least ensure their investment team is doing the right thing.
We don’t suggest going it alone in the property field, but we do suggest undertaking your own due diligence and research. Test your own theories on property, for instance. After his talk, I overheard Jonathan speaking to one of the audience members and telling them to choose a suburb they know well to research and do a “practice run” with getting the latest information if they’re not experienced with getting it right the first time round. This will allow you to see any flaws in your process, and understand what to look for, before you start researching an area you do not know.
We all think we understand property better than everyone else. But it is time consuming, and you are expecting to dedicate some work into getting the information you need to save yourself the funds in the future from the market moving backwards. And, as RBA governor Glenn Stevens re-iterated in the much-discussed speech, the market can and does move backwards – it is by no means unheard of. We would hate any person to suffer through bad property choices, particularly when the situation could have been avoided through a little more education and effort - or through better choice of expert. Bad decisions happen frequently and, as we know, hindsight is 20/20 while foresight is basically a thick fog.
But is it possible to make money through property? Yes, it is. Is it certain or simple? No, it is not. To suggest it's easy is irresponsible. It’s not a sexy message, and it doesn’t make a good headline. The sales pitch “It’s hard work, not certain, expensive and you may not make as much money as you think” isn’t particularly enticing. No one was ever interested in writing about the suburb that is a ‘quiet achiever’ and growing just slightly above the national average. It’s a hard sell for us to write a story about a suburb that isn’t “booming”, it’s a hard sell for someone to push property there or to suggest someone invests there – and so these areas can often be ignored.
Jonathan told the crowd that this is actually exactly what they’re looking for.
The hotspot lists help you know where not to buy – where the herds are buying and everyone else is investing – instead, you want the quiet places that no one else is talking about yet. These are places that, while we do our best, aren’t always going to make it into our headlines. We write based on what we hear and what we're told by investors and experts, each with their own agenda, so you can understand where we come in during the process.
After everything, I found myself smiling and cheerful at the show – those with ethics, who are forward thinking and care for their clients, they will see long-term success and repeat business. And consumers who are the same, who are diligent and careful, do their research and educate themselves – they are putting themselves in a better position as well.
We can’t be naïve to think that another investment trend won’t be seen – that there won’t be another form of investing that hits a chord for a while (and, yes, makes some people plenty of money), but we can hope that by the time the next property sensation takes off the next wave of buyers are ready to truly analyse it and work out whether or not it’s for them.
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Letter from the editor: Property investing isn't about the sexy sales pitch

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Getting into property investing can be a tricky process, it’s often as much about what you can afford as where and what you should be buying.
Previously, Wakelin Property Advisory discussed <a href="/news/vic/what-is-an-investment-grade-property-in-melbourne-and-where-can-you-buy-for-your-budget">how much it costs to get an entry-level investment grade stock in different areas of the Melbourne market</a>. They gathered that around $400,000 is going to be the amount you’ll be looking for on the lower end of the market.
This time, Wakelin’s Jarrod McCabe speaks to Howitt Partners Mortgage &amp; Finance’s Charles Howitt on exactly how much extra cash flow you need in the household budget to finance this sort of an investment.
Factoring in cash flow, mortgage repayments, expenses and some conservative assumptions around costs, they come up with the figure you need to have aside on a weekly basis to fund the property.
You can see their explanations in the video below. Remember, you will need to undertake your own calculations to see what works for your individual circumstances – this is a case study only.
{qtube vid:=ECR0sOBgSS8}
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="135">
 
</td>
<td colspan="2" valign="bottom" nowrap width="149">
$400,000 property
</td>
</tr>
<tr>
<td width="135">
Marginal tax rate (+ Medicare levy) + Temporary Budget Repair Levy
</td>
<td nowrap width="78">
Top
(49%)
</td>
<td nowrap width="71">
Second tier
(39%)
</td>
</tr>
<tr>
<td width="135">
Gross annual rental income @ 3.5%
</td>
<td colspan="2" nowrap width="149">
14,000
</td>
</tr>
<tr>
<td width="135">
Management and other ongoing costs (25% of rental income)
</td>
<td colspan="2" nowrap width="149">
3,500
</td>
</tr>
<tr>
<td width="135">
Net annual rental income
</td>
<td colspan="2" nowrap width="149">
10,500
</td>
</tr>
<tr>
<td width="135">
Annual borrowing costs @ 5% interest only
</td>
<td colspan="2" nowrap width="149">
20,000
</td>
</tr>
<tr>
<td width="135">
Funding difference per annum before tax
</td>
<td colspan="2" nowrap width="149">
9,500
</td>
</tr>
<tr>
<td width="135">
Funding difference per annum after tax
</td>
<td nowrap width="78">
4,845
</td>
<td nowrap width="71">
5,795
</td>
</tr>
<tr>
<td width="135">
Monthly cost after tax
</td>
<td nowrap width="78">
$403.75
</td>
<td nowrap width="71">
$482.91
</td>
</tr>
</tbody></table>
Source: Wakelin Property Advisory
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How much money do you need to invest in the Melbourne market?

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Renovators and home builders can expect to be assisted under draft supporting regulations for new laws from New South Wales Fair Trading Minister, Matthew Mason-Cox.
Measures proposed by Mason-Cox as pat of the Home Building Act reforms include fast-tracking IPART reforms, that allow residential work under $5,000 to be done without a permit.
Also, property owners will be able to do work on their home up to the value of $10,000 without an owner-builder permit.
These are additions to amendments passed by the New South Wales Parliament in May that cleared up definitions around structural defects, and tightened licence eligibility to stamp out <a href="https://www.timebase.com.au/news/2013/AT644-article" target="_blank">phoenixing</a> (defined by ASIC as "the fraudulent act of transferring the assets of an indebted company into a new company to avoid paying creditors, tax or employee entitlements"). 
“For most consumers, building or renovating their home is one of the biggest financial undertakings they will ever make in life,” said Mason-Cox.
“Modernising the Home Building Act is absolutely essential to enhancing consumer protection and ensuring the ongoing viability of the building sector.
Other changes may include a review of the scope of some categories of work for licences and certifications. Feedback is also being sought on deregulating excavation work, cleaning work and some fencing so that licences and home warranty isn’t required.
“The reforms will reduce the cost of providing building and maintenance services and help ease the cost of living pressures for consumers across NSW, while still providing an appropriate level of consumer protection,” he said.
Stakeholders can <a href="https://www.fairtrading.nsw.gov.au">still comment on the reforms</a>, with a submission deadline of 15 August 2014. Resulting new laws are expected later this year. 
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Draft regulations to assist renovators released: NSW Fair Trading

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Strathfield’s newest residential development, marketed as a "one-of-a-kind for the up and coming area", Centric Strathfrield from Lumex Property Group launched on Saturday achieving a high number of sales - currently just a few of the penthouses remain.
The <a href="/expert-insights/buying/centric-strathfield-to-be-launched-with-57-inner-west-apartments">swish launch at the display suite on 9-13 Parnell Street</a>, just a two minute walk from the station, saw tuxedo-wearing staff members welcoming a large crowd into the development. While many of those looking to buy were of Asian appearance, Property Observer notes that the majority seemed to be local buyers – some moving from other areas of the inner west. Despite this, some investors were present.
<img src="/images/2014/07/21/strathfield-july-21-one.jpg" alt="">
Halfway between Parramatta and the city (less than 15 kilometres from both), the apartments launched to considerable success.
Just over halfway through the 8am to 10am launch, a CBRE marketing representative said that just six of the 57 one and two bedroom apartments were remaining. Prior to the commencement of the launch, a sell out was anticipated.
<img src="/images/2014/07/21/strathfield-july-21-three.jpg" alt="">
Centric Strathfield has positioned itself towards the owner occupier market, looking to offer top end finishes. Most apartments have northerly orientations, with winter gardens and terraces. All come with basement car parking and separate storage, as well as lift access.
The roof terraces offer CBD and Harbour Bridge views.
Spanning eight residential floors, and a commercial space at ground level, 51 square metre to 59 square metre one-bedroom apartments were being sold from $629,000. One bedroom and a study, 59 square metres, were selling from $685,000. Two bedrooms, from 71 square metres to 88 square metres were selling from $780,000.
The majority of the available apartments, 29 of them, were two bedrooms, with 24 one bedrooms and four one bedroom plus studies.
According to RP Data, the <a href="/news">median price currently recorded for a Strathfield unit is $570,000</a>, with a median advertised weekly rental price of $500 per week. The median unit price has significantly increased over the past year, profiting in on the growth seen across Sydney.
The designs, from SJB Architects, were also said to be a major drawcard for the interest in the development. Within the apartment building, there will be a number of community areas – including a roof top garden and an atrium lobby.
The properties themselves include limed European oak floors, AEG appliances and integrated banquette seats.
The display suited had been open from 5 July for interested viewers before the launch on 19 July.
Construction on <a href="https://www.centricstrathfield.com.au" target="_blank">Centric Strathfield</a> is expected to be finished by mid-2016.
How do property developers sell out mega residential projects? Where can financial planners find off the plan projects on one website? And what is all the fuss about with China?
Register now to join an expert panel in off the plan property marketing for an informative discussion and live Q&amp;A on Property Observer, in association with Investorist.
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Centric Strathfield's weekend launch success - handful of penthouses remain 

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The NSW government has announced a summit to help decide upon the future of Sydney Harbour's Bays Precinct.
The move that had been welcomed by the Urban Development Institute of Australia’s New South Wales branch who are interested to see what private sector opportunities there may be for the harbourfront land.
UDIA NSW chief executive Stephen Albin said that the 5.5 kilometre site of prime land has been dormant, with this decision coming almost two years since The Bays Precinct Taskforce released its Strategic Framework Report. This report looked at the future of Blackwattle Bay, Rozelle Bay, White Bay and Glebe Island.
“After years of stagnation at the Bays Precinct site it’s positive to see the Government reigniting a discussion about future uses for the area,” said Albin.
“Previously, there’s been little information about the role the private sector could play in delivering future outcomes at the Bays Precinct,” he said, noting their interest in hearing about potential opportunity.
Albin believes this site will help cater for growth, and that while there are innovations occurring offshore, it’s worth recognising talent on Australian shores.
What would you do with the site?
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Bays Precinct, Sydney Harbour summit welcomed after “years of stagnation”: UDIA

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Lara West, in the northern area of Greater Geelong, has been rezoned to include a 62-acre, 650 lot, subdivision called Manzeene Village.
Planning Minister Matthew Guy said that it will make a link between central <a href="/news">Lara</a> and the Lara West growth area, being one of the most significant in Geelong with forecasts of accommodating 10,000 people.
Earlier this year, in February, a 390-hectare Lara West precinct was approved.
"Manzeene Village completes the planning picture for the Lara West growth front, which will feature an employment precinct, a large neighbourhood activity hub, three new schools, community services, sporting facilities and parkland that can be enjoyed by everyone in the region,” said Guy.
A local commercial area will be built, as well as 5,000 square metres of local parkland.
"Development at Lara West will be undertaken gradually over 30 years to help meet the needs of the projected 500,000 extra residents in the Greater Geelong region by 2050," he said.
New suburbs Lovely Banks and Batesford South are the next planned for Geelong’s north.
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Greater Geelong rezoning includes new Lara West subdivision

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

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.

[smartcode_project:default project_id=135546 project_image_fid=367096]

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;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<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;

[smartcode_project:default project_id=135546 project_image_fid=363509]

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;

[smartcode_project_cta:default project_id=135546]

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.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<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" />

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.

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 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.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, 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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