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The passing of the legislation repealing the carbon tax has been welcomed by the Housing Industry Association, who say they have been vocally opposed to the tax since its creation.
HIA chief executive industry policy and media, Graham Wolfe, said that it is a barrier for the industry. Previously, they had c<a href="/news/hia-urges-the-federal-government-to-scrap-the-carbon-tax">alled on the government to scrap it, calling it a “bad tax”, and asking for transparency over the costs added to a new home</a>.
"HIA has advocated against the carbon tax since its inception, as it represents yet another impost on one of the most heavily taxed sectors in the economy," said Wolfe.
"The repeal of the tax was a key part of HIA's 2013 federal election platform to help revive the housing industry."
He noted that it has had direct impact on energy production costs, which in turn had a flow-through effect onto manufacturing and fabrication phases for building material, product and assembly production.
Wolfe says that this drove up the prices of new homes, through manufacturing, jobs and material input costs.
In 2011, they had <a href="/news/carbon-tax-to-add-6-000-to-new-home-costs-hia">estimated the additional cost to a new home at $6,000</a>.
However, <a href="/expert-insights/investing/carbon-tax-wont-increase-housing-costs-much-stockland">Stockland had said that the additional costs would be closer to $2,500</a> – or just 0.6% of their house and land packages.
Property Observer is keen to see if any new home developers actually do reduce the costs of their developments' offerings as a result of the repeal.
RELATED STORIES:
<a href="/news/carbon-conscious-homebuyers-should-be-spared-tax-industry-bodies">Carbon-conscious homebuyers should be spared tax: industry bodies</a>
<a href="/expert-insights/investing/more-than-half-of-potential-home-buyers-put-off-by-spectre-of-carbon-tax">More than half of potential home buyers put off by spectre of carbon tax</a>
<a href="/expert-insights/investing/scaremongering-over-the-carbon-tax-just-a-lot-of-hot-air">Scaremongering over the carbon tax just a lot of hot air</a>
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jduke-EHk3XBmHkn

Carbon tax repeal part of HIA plan to revive housing industry

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North Ryde, Sydney’s Macquarie Centre’s $440 million redevelopment has seen the first stage open as part of the AMP Capital’s Shopping Centres $2.8 billion development plan.
The <a href="https://www.macquariecentre.com.au" target="_blank">Macquarie Centre</a> is located in a total trade area of 337,770 people that expects to reach $6 billion in retail spending by 2021, explained AMP Capital Shopping Centres’ managing director Byran Hynes. He noted that the north-west corridor is the new capital of household wealth in Sydney.
The project’s second stage, set to be complete for this Christmas’ shopping season,will see the centre increase by 38,000 square metres to a new 138,500 square metre total, or the largest shopping centre in suburban Sydney.
“Today we have unveiled, ahead of schedule and on budget, more than 37 food and specialty retailers, 29 of which are new to Macquarie Centre,” he said.
“The centre will offer our customers a one-stop-shop for fresh food, specialty Asian food stores and market-style restaurant options from local producers.”
The first stage includes a Fresh Food Market precinct with Coles, ALDI and a refurbished Woolworths in residence. Costis Seafood Market Macquarie, Inlakesh Living Foods and F &amp; L Gourmet are eateries available.
The centre has also been redeveloped to include a 21-metre curved digital panel, which they note is a first nationally, that is for advertising and other content.
“Consumers are savvier yet more time poor than ever before and are craving distinct experiences in unique environments where they feel special.  We’re transforming Macquarie Centre into a leading contemporary urban centre, offering diverse experiences to the students, residents and workers in the area,” said Hynes.
On completion, international designers and Australian designers, as well as David Jones, will be in residence.
{qtube vid:=yrkUzoGNdbE}
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Sydney's largest suburban shopping centre, AMP Capital's Macquarie Centre, now open

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Western Australia’s Onslow will see the first large scale residential land sale release in the area in 20 years, with local residents to be given preferential first dibs to the property.
The plan is to evolve the Pilbara town by bringing locals into the new Barrarda Estate, explained Lands Minister Terry Redman.
“Unprecedented demand for new housing due to increased resource industry activity around <a href="/news">Onslow </a>makes this land release crucial,” Redman said.
Onslow’s current population is just 700, with a total 3,300 residents expected over the next eight years due to increased oil and gas activities. This includes Chevron’s Wheatstone Project.
“Property prices have escalated dramatically in Onslow in recent years with land in short supply until now.”
This is a pre-release that will see locals buying off the plan before the titles are issued next year.
Locals who reside in employee housing or who do not own a house in Onslow will be able to buy.
“Applicants will be required to have lived, been employed or owned a business in the town for the previous 12 months,” he said.
Landcorp’s Barrarda Estate’s stages 1A and 1B are being released, including 86 single lots of which 44 are house and land packages, with builders including Fleetwood Pty Ltd, McGrath Homes, DA Burke Builders, BGC Modular and Megara.
General public sales will be later this year, with interest able to be registered from now.
Following the local release, sales to the general public will be available later this year. Interested parties are <a href="https://www.landcorp.com.au/Residential/Onslow/Land-for-sale/" target="_blank">encouraged to register their interest now</a>.
Lot prices start at $230,000 with sizes spanning from 390 square metres to 774 square metres.
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Onslow, WA locals given first dibs to residential lots as resource activity grows

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Real estate agents have been given an official warning to be on high alert for property scams by Attorney-General Simon Corbell after three people were arrested by South African Police over an attempted fraudulent sale of a Western Australian home.
Corbell, who said that it was one of the most serious types of scam, is calling for real estate agents to be on their guard.
"A property scam can result in a home being sold without the lawful owner's knowledge or permission. This type of scam traditionally occurs when the owner lives or is travelling overseas," Corbell said.
"Many professionals apart from those in the real estate industry are involved when a property is sold.”
Each of those professionals must be diligent in checking details, particularly when dealing with overseas transactions, he said.
"Independently confirm any change in contact details for the properties you manage to ensure you are dealing with the real owner.  Signatures should be checked with originals on file.  Have any doubtful documents verified by the issuing authority.”
"Home owners, particularly absentee owners, are also warned to be vigilant.  Have suitable protocols in place, for example, security questions, to prevent the possibility of your home being sold without your knowledge or permission."
Three people were arrested in Johannesburg earlier in the month following a five months investigation by the Major Fraud Squad of the Western Australia Police.
The trio allegedly emailed a <a href="/news">Mandurah</a> real estate agency, which was managing a property owned by a South African person, pretending to be the owner and managed to convince the agency to change the owner’s contact details to their own.
Forged signatures were used, and the <a href="/news/wa/three-arrested-in-south-africa-after-wa-home-sale-scam">property was put on the market before an offer being accepted by the trio</a>.
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Real estate agents put on alert after WA fraud case

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New SQM Research vacancy rate figures have seen increases in the vacancy rate nationally, with the only capital recording a decrease being Hobart.
This is the highest result recorded since December 2013.
<a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>’s managing director Louis Christopher said that while this isn’t a “rout” for investors quite yet, it does paint a picture of rents unexpected to rise above inflation over the next 12 months.
“At this stage the market is increasingly favouring tenants across the country,” said Christopher.
“This means that rental yields will continue to fall, thereby reducing the net cash flows for new property investors in the market place.”
Nationally, vacancies are recorded at 2.3% in May or 69,258 nationally.
Melbourne, whose vacancy rate is the highest of the capital cities, sits at 2.7%, while Darwin, Hobart and Adelaide have the tightest vacancy rates – at 1.6%.
Perth recorded the highest year increase – up 0.9% to 2.5%. Sydney recorded a 1.9% vacancy rate.
See over page for the summary table of vacancy rates and their latest changes.
<hr class="system-pagebreak">
Latest recorded vacancy rates
Click to open in new window: 
<a href="/images/2014/07/17/sqm%20july%2019%20one.png" target="_blank"><img src="/images/2014/07/17/sqm%20july%2019%20one.png" alt=""></a>
Source: SQM Research
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Property investors to see net cash flow fall: SQM Research

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Vegetarian favourite in Melbourne’s Fitzroy, The Bear Café, is closing up shop – but just for renovations.
At 439 Brunswick Street, they initially started with VIP coffee deliveries in late-2012 to Fitzroy, before expanding and including retail with food and coffee, and specialised groceries.
The café has been a more recent staple at the same address of "Animal Lovers by Neo Tokyo's" retail store, which has operated since 1998. Their focus is on gluten-free and dairy-free alternatives, but they do also provide dairy options.
It seems there was some online speculation that they are closing up for good, with outraged online comments lamenting and calling the believed closure ‘sad,’ despite no official word out from the owners themselves.
However, vegetarians and Brunswick Street lovers can breathe a sigh of relief – it’s just believed to be a temporary closure as the owners carry out renovations.
A sign out front says 'The Bear is hibernating', however Property Observer understands that it will be back up and running in three to four weeks.
<a href="https://www.propertyobserver.com.au/https://www.facebook.com/pages/The-Bear-Cafe/411756705573879" target="_blank">The Bear Cafe Facebook page</a> has been silent since January, however they had been open and busy until earlier this month.
Picture courtesy of Facebook.
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The Bear Café, Brunswick Street hibernates, but for reno only

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In what is potentially many an investors' childhood dream, a Dunsborough theme park investment freehold property opportunity has hit the market.
A high level of interest expected, according to exclusive sales agents CBRE’s Ryan McGinnity and David Kennedy, who note that it is offered with a long-term lease.
The Xscape at the Cape Fun Park is on Caves Road, and includes an 18-hole mini golf cause, water slides, a Mine Shaft Maze and an ice-creamery.
Owner and operator, Douglas Campbell, is selling the property to further invest in his growing theme park business – also being the operator of Mirrabooka’s Action Park and Hillary Boat Harbour’s The Greast Escape.
“Xscape at the Cape is outstanding opportunity for those looking for a long term secure investment,” McGinnity said.
“Mr Campbell’s experience in the theme park sector, and his willingness to take a long term lease of the property, means the investment is secured by one of Australia’s best operators.”
The site also includes a kids train, a Jump N Tramp, the bouncy castle Tiki Island and state of the art playground Jungle Mountain.
The site is being offered by private treaty.
“Set on over a hectare of land, this property represents an outstanding investment opportunity, with a net rental of $160,000 per annum and initial 15-year lease with two 10 year options,” said Kennedy.
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Western Australia theme park up for sale, with long-term lease

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In the light of high commercial vacancy rates along the retail strip on Sydney’s Oxford Street, stretching from Hyde Park to Bondi Junction, Raine &amp; Horne’s Max Raine has weighed in with support for calls to the Sydney City Council to take over management from Woollahra Council.
Raine, a local property owner and recognised industry member, said that the growing vacancies are affecting Oxford Street’s name as a leading fashion and lifestyle destination, and that it’s time boundaries were changed to bring it under the financial clout of the City of Sydney.
“As a lifetime resident of Sydney’s Eastern Suburbs, I am truly gutted that this famous retail strip, which is also home to many heritage buildings such as the Paddington Town Hall and Victoria Barracks, has fallen on such hard times,” said Raine.
“Oxford Street is at the risk of becoming a retail white elephant like Newcastle’s once bustling Hunter Street, and it would be a significant blight on the history of this great city if this iconic strip is not restored to its past glories.”
A Property Observer survey in February 2013 found <a href="/news/nsw">35 out of 198 storefronts on the north side of Paddington’s Oxford Street shopping strip</a> – between Barcom Street and Jersey Road – were empty. Some were recorded as having been unoccupied for more than six months.
Notably, <a href="/expert-insights/investing/darlinghursts-oxford-square-retail-centre-listed-with-70-million-plus-hopes">Darlinghurst's Oxford Square retail centre was listed with $70 million-plus hopes in April 2013</a>.
Then, in February this year, a <a href="/news/nsw/oxford-street-retail-building-offered-for-sale">1,946 square metre retail building was offered up for sale in the Paddington section of Oxford Street</a>.
And in April 2014, <a href="/expert-insights/investing/oxford-street-sydneys-oldest-gay-hotel-venue-up-for-sale">Sydney's oldest gay venue on Oxford Street, Darlinghurst hit the market</a>.
The call comes a few months after a comprehensive Sydney Morning Herald feature on Oxford Street, which noted a mass retail and restaurant exodus from Oxford Street had the empty shops numbering 29 in the City of Sydney, 41 in Woollahra and 19 in Waverley. Paddington, bearing the brunt of the storm, clocks up 46, a vacancy rate of just over 18 per cent. In the area immediately surrounding Jersey Road, it is as much as 65 per cent.
The Activate Oxford St draft proposal commissioned by Woollahra Municipal Council was welcomed by Raine, although he notes it misses the problem of a parking station.
“The report suggests ways to improve the struggling street, such as creating new uses for vacant shops, the introduction of street theatre activities, as well as implementing improvements to the operation of Paddington Markets, however what the strip needs more of is parking, to attract shoppers back to the boutiques, cafes, bars and restaurants,” he said.
“It’s pretty simple, if you can’t park, then you can’t shop and there are some properties along Oxford Street that would make perfect sites for additional parking, including the site of the underutilised St Matthias Church on the corner of Oxford Street and Moore Park Road.” Improvements in parking infrastructure will be a costly exercise, which is part of the reason the Sydney City Council is being called upon to control the strip.
“Woollahra Council has done its best but Oxford Street desperately needs the financial clout of Sydney City Council to help return it to its former glories,” he said, promising his support behind any representations to the New South Wales Local Government Minister Paul Toole around boundary changes.
Photo of Oxford Street Mall courtesy of Wikimedia Commons.
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Oxford Street at risk of becoming a "retail white elephant": Max Raine

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A new zoning plan and planning controls for much of the City of Sydney’s employment lands has been endorsed by the council for exhibition. This covers much land currently zoned for business or industrial purposes.
Some industrial areas are expected to be retained for traditional uses, while other zones are to be introduced or expanded. This includes a B6 Enterprise Corridor zone to add to the B7 Business Park zone.
Knight Frank’s manager of town planning for Sydney, David Workman, said that the proposed changes are extensive and it is crucial to be aware of the implications on an individual property basis.
“A small change can often make a significant difference either positive or negative, particularly in terms the type of development permitted within a new zone and at what density,” Workman said.
The report that had been prepared for the Council included the following proposed changes:
<ul>
<li>A core industrial zone in the South West part that will continue to accommodate ‘traditional industrial’ uses;</li>
<li>A flexible enterprise corridor zone through the centre part that will accommodate lower density industrial and commercial uses; and</li>
<li>Business park zones in the North West and South East parts that are close to transport, services and amenities and that will provide for denser commercial activity over time.</li>
</ul>
Source: Knight Frank
It’s noted that private residential development will be restricted on the employment lands, with the exception of a Botany Road section that currently permits shop-top housing and senior housing.
Affordable housing opportunities may also be provided for.
Daniel O’Brien, Knight Frank South Sydney agency director, said that the rezoning for some of those currently zoned IN1 General Industrial means good things with the potential for higher order commercial uses than currently allowed. He also noted that it’s expected to drive employment, and therefore commercial development.
“The trend for older industrial style buildings, to be regenerated into funky office space will only gather more pace and as long as the current demand for this type of office accommodation remains strong, it will be a win:win for developers, tenants and occupiers and building owners,” Mr O’Brien said.
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How the City of Sydney’s new zoning plan affects commercial property: Knight Frank

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Vacancy rates in Perth’s CBD office market are expected to remain above 10% for the next four years at a minimum, according to BIS Shrapnel.
The  Perth Commercial Property Prospects 2014 to 2024 report found that even when an optimistic scenario was tested for Perth, modelling the impact of high levels of minerals production on office demand, the vacancy rate will increase to around 15% by June 2015. It was then expected to decline to 12% by 2018.
Currently, the vacancy rate sits at 10% to 13%.
BIS Shrapnel’s senior project manager and report author Lee Walker said that the forecasts suggest that engineering construction is to fall by a third over the next four years, and the drop in resources investment – a key driver for office space – will leave the absorption of this commercial stock very weak.
“The real problem on the demand side is that the downturn in resources investment has only just begun. It is the investment phase of the cycle, and particularly growth in investment, that underpins employment within office buildings and which drove the record levels of net absorption of office space in Perth in recent years” said Walker.
There are also a significant number of new completions in the pipeline, with 164,000 square metres of new completions currently under construction set to enter the market by December 2015.
“Even though around 65% of this new office space is pre-committed, we are worried about the volume of un-committed space, as well as the back-fill space that will be created as tenants relocate. All this space will need to be absorbed and we don’t believe there will be enough demand,” Walker said.
If this situation was to be turned around, an “exceptionally strong growth stimulus from export growth” would be needed to generate enough office demand to complete the additional space built in the next 18 months. Walker warned that he does not foresee this occurring.
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Perth office market needs “exceptionally strong growth stimulus”: BIS Shrapnel

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>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[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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