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A portion of property investing is often related to creating equity in a property – through developments, subdivisions and even renovations.
It's unsurprising, especially with shows such as <a href="/expert-insights/building/want-to-join-the-block-2015-heres-how-to-apply">The Block</a> and <a href="/expert-insights/building/underdogs-adam-and-lisa-win-house-rules-season-two">House Rules</a>, that renovating is a much discussed aspect of real estate for both home owners looking to improve their properties, and investors looking for bang for their buck.
Our Tuesday Q&amp;A is with Renovating for Profit’s Cherie Barber,  where we ask about essential renovation skills, the experts you can’t do without and whether you can really make money from a quick cosmetic fix up. Which skill is more important for renovating – a good eye for design or good management skills? I’d say good management skills are essential, whereas a good eye for design is definitely an asset, but you can always call on professionals to help out with that.
In the renovating game, it’s those with exceptional time management and organisational skills, who are great negotiators and communicators, and who know how to accurately set a budget and stick to it… they’re the ones most likely to succeed and make money.
A creative eye, without all those skills, might get you a beautifully renovated property, but it could send you broke! If you could choose just one professional as your “go to” for a renovation project, who would they be? I rely heavily on all my tradies, so choosing just one is difficult, but I’d say a really skilled carpenter is your biggest asset. They’re a jack of all trades who can turn their hand to most things, whether it’s putting up a stud wall, putting in a kitchen, making built-in seating for a courtyard or just smart shelving.
You really need a second in command on a project that you can depend on, so a carpenter would be my “go to” guy if I had to choose just one. Do you think there are any difficulties for women renovating? To be honest, it took me a couple of renovations to gain my confidence working as the only female on a building site – and not just the only female, but the one in charge! Not all blokes are comfortable with that, especially in a male-dominated industry like the building trade.
I’ve found the key is to be calm, assertive and very clear and direct in my communication style.
Never get emotional. You’ll minimise misunderstandings and disputes by having everything in writing, so if there’s a disagreement over an aspect of work or money, you have your written contract and detailed scope of works to fall back on. “Firm, but fair” is an approach that tradies understand and respect, whether you’re male or female. 
Friendliness goes an awfully long way on a building site. No one likes a dragon lady! Can buyers really make money with a cheap cosmetic renovation?  (Must read: <a href="/expert-insights/what-is-a-cosmetic-renovation-investment-terms-explained">What is a cosmetic renovation?</a>) Absolutely - loads of my students have done it! But you have to target the right properties.
If you’re looking for a two-bedroom apartment to renovate in a certain suburb, and you find that renovated and unrenovated two-bedders are pretty much selling for the same price, then it’s unlikely you’ll make money on the renovation.
You need to find decent “pricing disparity” – suburbs where buyers are willing to pay a premium for smartly renovated properties. That’s why careful research is so critical.
Buy the right property, in the right suburb, at the right price, and yes, you can definitely make money on a cosmetic renovation.   
During your shows you often point out that there are many ugly properties across, what are your most hated design features in a property? There’s a few thing buyers really don’t like. “Popcorn ceilings” are definitely one. They’re the spray-on ceilings that were especially popular throughout the 60s and 70s, and often contain asbestos. Visually they’re ugly and people don’t like the idea of asbestos in their home. Skinny little skirting boards and architraves always look cheap.
I hate bad layouts that don’t make the most of the available floor space, and unruly landscaping that was never properly thought out in the first place. And anything terracotta coloured – whether it’s tiled roofs, pavers or brick houses! Speaking of brick (especially those terracotta and blonde ones), rendering them is absolutely compulsory in my book. Are there any people who should not renovate a property? This probably relates back to question one, and the importance of excellent organisational, budgeting and negotiation skills. Those three cornerstones are just such a big advantage in the renovating game.
If you don’t have a single one of them, well, then you’re really going to struggle. Renovating isn’t an automatic road to riches. It takes time, focus, dedication and a lot of hard work to be successful.
Unless you’re willing to put in the hard yards to educate yourself about what’s required and then get out there and do it, you might be better off sitting at home. Trying to “wing it” is simply a recipe for disaster.
Cherie Barber is a public speaker, TV renovator and the owner of Renovating For Profit, a company that teaches everyday people how to buy and renovate properties for a profit. Cherie Barber’s <a href="https://www.renovatingforprofit.com.au/content/renovating-profit-home-study-cherie-barber-live-workshop-inclusions" target="_blank">next three-day Sydney workshop is August 21</a>.
YOU MIGHT ALSO WANT TO READ:
<a href="/expert-insights/building/three-reasons-you-should-renovate-for-profit">Three reasons you should renovate for profit: Patrick Bright</a>
<a href="/expert-insights/investing/to-renovate-or-not-to-renovate-that-is-the-question">To renovate or not to renovate? That is the question: Jo Chivers</a>
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jduke-EHk3XBmHkn

Can cosmetic renovations really make money? Q&A with Cherie Barber

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New riverside planning controls have been proposed to protect the middle section of the Yarra River from over-development.
Planning Minister Matthew Guy noted that the controls are to ensure consistent rules around building height, setback and density controls, and would be across a 70 kilometre stretch of the river. This includes through Banyule, Manningham and Nillumbik.
“We’re proposing strict mandatory controls that will prevent development intruding on the natural character of the river corridor, its banks and much valued vegetation and parkland,” said Guy.
Mandatory proposed height limits are between eight and 12 metres, with setbacks of between 30 and 100 metres from the Yarra.
Minimum lot sizes are also likely to be increased, particularly along the rural and lower density areas, and a Neighbourhood Residential Zoning will be applied along the inner urban stretch.
The <a href="https://www.dpcd.vic.gov.au/planning/plansandpolicies/waterways-planning/yarra-river-planning/middle-yarra-river-study" target="_blank">draft recommendations are up for submission until 22 August 2014</a>.
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Middle Yarra over-development protection measures proposed

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A real estate agent in Redcliffe, Queensland, has been fined $10,000 and ordered to pay more than $39,000 by QCAT over wrongful conversion of trust monies, following multiple charges brought by the Office of Fair Trading.
The real estate agent, Jason Hoppner, was found guilty of the multiple charges.
The funds in the trust account were due to be paid to five landlords, but the money was then diverted into three separate bank accounts. Each of these were owned by Hopper. In total, thirteen payments were diverted to his accounts from December 2010 and April 2011.
The funds totalled over $12,000, and 23 affected consumers saw themselves paid $30,368.21 by the Office of Fair Trading, with another five currently owed $8668.11.
Hopper has been ordered to pay $39,036.32 and has been disqualified from holding a real estate agent’s license for 15 years.
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Redcliffe, Queensland agent fined $10,000 for trust account abuse

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Harry Triguboff has said that Meriton’s strata management arm has little to do with competing with other strata management companies, and all to do with service offering.
Triguboff told Strata Live that while buyers are educated when it comes to buying a property, these buyers avoid getting involved in strata management of their own buildings due to the legislation and responsibilities.
“One of the reasons we started our own strata division, is so we could help owners with that process. We already offer buyers vendor finance, we guarantee tenants for investors and we manage their apartments," Triguboff said.
“Managing the strata in our buildings is something we probably should have started years ago."
“Who knows the buildings better than we do?  Every brick, every pipe, every cable has fallen into the hands of a Meriton expert."
 The service is an additional offering for owners if they opt to use it, with many choosing to do so. Some now fear that legislation changes will stop them from using the service.
“It is not about competing with other strata companies.  I think many of the strata companies would agree that Meriton has given them a great deal of business over the years,” Triguboff said.
“It is about constantly improving and implementing new services that are for the betterment of our lot owners.”
Picture of Harry Triguboff courtesy of Wikipedia/Creative Commons.
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Harry Triguboff says Meriton’s strata management not about competing

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Australia's top 20 hotspots for both population growth and residential construction have been identified by the Housing Industry Association Economics Group in their Population and Residential Building Construction report.
To make the list, suburbs were required to have a population growth rater faster than the national average, as well as approved residential building work in excess of $100 million, for regions in New South Wales, Queensland, Victoria and Western Australia, or in excess of $50 million for South Australia. The Northern Territory and ACT were required to record over $20 million. In Tasmania the threshold was $5 million.
The report notes that with such a high population growth at a national level, or 1.8%, just 698 suburbs came above this, with just 50 falling into the required building work level.
“In terms of building work approved, the Waterloo-Beaconsfield area in Sydney’s inner south recorded the greatest value of new residential work approved with $513.2 million during the year. Being an area with a relatively large population already, the 4.6% growth in the population in 2012/13 is impressive but is not sufficient to rank among the top 20 hot spots nationally,” the report explains.
“Three new suburbs in the ACT took out the top three spots on the list this year, with Crace leading the way followed by Bonner (top of last year’s list) and Casey. All three of these areas recorded population growth in excess of 40% in 2012/13. The high rate of growth reflects a stage in the emergence of a new suburb whereby households are moving into their new homes in an area which had previously been unoccupied vacant land.”
This is therefore an irregular situation seeing ACT take out the top three spaces, and if they had not then Victoria’s Brunswick East, Craigieburn-Mickleham and Queensland’s Clinton-New Auckland would have achieved bottom spaces on the top 20.
Their top 20 hotspots (Statistical Area Level 2):
<ol>
<li><a href="/news">Crace</a> ACT (58.1%) </li>
<li><a href="/news">Bonner</a> ACT (43.3%) </li>
<li><a href="/news">Casey </a>ACT (40.6%)</li>
<li><a href="/news">Melbourne </a>VIC (22.7%)</li>
<li><a href="/news">Abbotsford </a>VIC (19.7%)</li>
<li><a href="/news">Forrestdale</a>/<a href="/news">Harrisdale</a>/<a href="/news">Piara Waters</a> WA (19.1%)</li>
<li><a href="/news">Cranbourne East</a> VIC (16.5%)</li>
<li><a href="/news">Baldivis </a>WA (15.8%)</li>
<li><a href="/news">Docklands </a>VIC (15.3%)</li>
<li><a href="/news">Yanchep </a>WA (14.8%)</li>
<li><a href="/news">Parklea</a>/<a href="/news">Kellyville Ridge</a> NSW (13.3%)</li>
<li><a href="/news">South Morang</a> VIC (12.6%)</li>
<li><a href="/news">Truganina </a>VIC (11.0%)</li>
<li><a href="/news">Cobbitty </a>– <a href="/news">Leppington </a>NSW (10.8%)</li>
<li><a href="/news">Ellenbrook </a>WA (9.3%)</li>
<li><a href="/news">Homebush Bay</a>/<a href="/news">Silverwater </a>NSW (9.2%)</li>
<li><a href="/news">Epping </a>VIC (9.1%)</li>
<li><a href="/news">Deeragun </a>QLD (8.9%)</li>
<li><a href="/news">North Lakes</a>/<a href="/news">Mango Hill </a>QLD (8.8%)</li>
<li><a href="/news">Point Cook</a> VIC (8.7%)</li>
</ol>
Source: HIA
Interestingly, the report also notes that there have been strong leading indicators of activity in New South Wales and Western Australia, as well as improving signs for Queensland.
These developments, however, are past this report’s cut off and will perhaps alter the list in next year’s.
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List of the day: Top 20 building and population hotspots

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The third building in Parramatta’s $550 million Promenade development from Starryland Australia has been released, bringing 153 apartments to market.
On the northern bank of the Parramatta River, they follow Promenade’s first two buildings with 124 apartments, that sold out in May 2014 at launch.
The first two towers are currently under construction, expected to complete in late-2016.
It is expected that 11 towers will be built in total by Starryland Australia, which was <a href="/expert-insights/buying/chinese-developer-taking-550-million-step-into-sydney-with-11-towers-in-parramatta">established by the 23rd largest publicly-listed company in China, Fuxing Huiyu Real Estate Co Ltd</a>.
A display centre at 1/28 Macquarie Street has been built for Building Three.
Marketing the project is Savills Residential, who expect interest from investors and owner occupiers.
Director of Savills Residential Projects, Irene Lau, said that there had been many young couples making their first property purchase.
“For business people the close proximity to transport, dining, shopping and recreational facilities were influencing factors,” said Lau.
Each apartment will have a balcony or courtyard, with the entire development to have 1.2 hectares of landscaped open space, a pedestrian bridge over the river and a walking/cycling network.
There will be six one-bedroom apartments, from $440,000 with 44.2 square metres to 49.4 square metres. Those with studies, of which there are another 17, are from $465,000, and span 46.7 square metres to 69.9 square metres.
The majority will be two-bedroom apartments, with 125 up for sale from $585,000. They are sized from 63.1 square metres to 98.8 square metres. Lastly, there will be five three-bedroom apartments from 83.8 square metres to 112.4 square metres, and priced from $850,000.
Each apartment has one or two secure car spaces, with 70 visitor slots allocated.
Parramatta Lord Mayor John Chedid said that it’s an exciting development and called it a “welcome addition to our expanding skyline”.
<a href="/expert-insights/buying/slab-to-be-set-on-highest-residential-tower-in-parramatta-v-by-crown-today">Chedid previously was on site at nearby V by Crown development</a>, excited for the new developments in Sydney’s “second CBD”.
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Third building released in $550 million Parramatta Promenade project

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ACT real estate agent Mark Blinksell, ex-director of Grapevine Property &amp; Business, has been fined $10,000 after using a client’s deposit from a trust fund to pay down his own mortgage.
In February, <a href="/news/act/canberra-agent-s-license-cancelled-after-taking-trust-money-to-fund-home-loan">Property Observer reported that Blinksell had his license cancelled for five years</a> and had been disqualified for applying for a real estate of business salesperson’s registration for three years after he was found guilty of engaging in dishonest conduct by misapplying deposit monies received in 2013.
The deposit funds, that had been received around 7 January, 2013, in his role as vendor’s agent, were effectively stolen. He subsequently misrepresented and lied about where the funds were. He had been engaged by the vendor in October 2012, and received $22,000 in a deposit cheque from the buyers in the January.
Blinksell was given a six-month suspended jail sentence and a three year good behaviour bond. He had paid back the money with interest.
ACT Commissioner for Fair Trading Brett Phillips said that the ACT government takes real estate agents’ breaches of the law seriously.
"Real estate agents regularly handle large sums of money for their clients, and it is vital that they understand the gravity of such a responsibility," said Phillips.
Blinksell had operated Grapevine since 2009. He previously held positions at Mirvac and Capital Property Trust.
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Agent fined for using client’s deposit to pay off own mortgage

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Bankstown, 20 kilometres south-west of Sydney, is seeing the introduction of 54 apartment creation Bankstown Gardens, from architect Tony Owen and property developer JR Investment Group.
Aiming to be favourable to the investor crowd, and to owner occupiers, the <a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3670&amp;wlid=274f147d-d2b9-4c0b-a8c7-73d07f77daab" target="_blank">Bankstown Gardens</a> development offers one, two, and three bedroom apartments spanning the eight storey block.
Sales commence this month, with one bedrooms from $385,000, two bedrooms from $466,000 and three bedrooms from $588,000. It appears the prices span to $670,000.
<img src="/images/2014/07/14/Bankstown%20Exterior.jpg" alt="">
The current median price for <a href="/news">Bankstown</a> units is $362,000 with median advertised weekly rent at $390.
Located on 6-8 Cross Street, they are a 10 minute walk from Bankstown Station.
Marketing the project is CPM Realty, with managing director Sam Elbanna noting that the idea is to bring city living to Bankstown. 
“There is a new level of sophistication spreading throughout Sydney and people are clamouring for a luxury style development in more affordable locations. This is what we are delivering in Bankstown Gardens,” said Elbanna.
The development has a completion expectation for early 2016.
In 2011, total works were expected to amount to $12,500,000. It appears it took some time to get approval from council.
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Bankstown Gardens development bringing 54 apartments to market

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The Housing Industry Association’s Housing Scorecard report has found that New South Wales is a strong performer, having rapidly turned around over the past six months.
HIA chief economist Harley Dale said that the rapid turn of fortunes for New South Wales is evident.
“Six months ago we noted there was momentum building in NSW and this has been confirmed by the latest analysis. NSW is now the second strongest residential building market in the country, having been ranked number five only six months earlier,” said Dale.
“Much of the recovery in NSW can be attributed to the surge in activity in the multi-unit sector, but the detached home market in NSW ranks among the strongest in the country. The renovations market remains a soft spot for NSW, but there are signs that conditions in this part of the market are improving,” he said.
Western Australia topped the overall ranking, ahead of New South Wales, and these two states hold the lead strongly.
However, while it’s positive news for New South Wales and Western Australia, it remains less so for Tasmania – recording the weakest residential building sector in the country.
“This is an unenviable position the state has now held for six consecutive quarters. There have been some signs of improving conditions in the Tasmanian economy, but we are yet to see this flow through into the residential building sector,” he said.
The ACT, Victoria and the Northern Territory are very close in the middle of the group, with South Australia and Queensland seeing improvement but remaining just slightly more subdued.
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New South Wales detached home building strongest in country: HIA

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If you're looking at buying a first home, or perhaps a first investment property, there are many hoops to jump through.
For those of you who have just started considering and becoming serious about purchasing, here are 11 questions that you should be looking at answering for yourself - including links to more helpful information.
If there's a question you'd like assistance with, or answered, then leave a comment and Property Observer will take it to the experts.
<ol>
<li>
What time frame am I looking at? If you’re looking to buy within the next month, then you need to ensure that you have everything in order, including your deposit and funds for costs as well as any auction practice or professionals you need to have engaged. If you have longer, then you are able to save more – and put a budget plan into place as necessary – and spend more time to research. Your personal time frame will shape how you approach the other questions in this list. 
</li>
<li>
Who should I speak to for advice? There are many professionals out there, and you’d be wise to engage with an accountant, broker and potentially even a buyer’s agent early on in the piece – not to mention start to scope out real estate agents (though remember, they work for the vendor not for you). You will also want to eventually grow your team to include either a solicitor or a lawyer, perhaps a building and pest inspector and so on. You can see a number of articles on how to choose these experts here. 
</li>
<li>
What deposit do I have? If you have a small deposit, it’s time to <a href="/expert-insights/finance/what-is-an-lvr-investment-terms-explained">understand LVRs and how LMI might play a factor in this</a>. This may cause you to re-think how much money you’re putting in, and perhaps have you saving for longer. Remember, also, that you will also need funds to cover <a href="/news/vic/how-to-work-out-how-much-buying-a-home-costs">all those extra hidden costs</a>. 
</li>
<li>
How much can I borrow? An online calculator can quickly help with rough estimates around what you can borrow. A broker can further assist you with this. Knowing this figure, the bank’s limit, can quickly help you understand what is out of your reach. You can also ask your broker what you can do to push this limit up if it comes in too low (for instance, increasing earnings and minimising expenditure). Here are some <a href="/expert-insights/finance/six-tips-to-help-improve-your-serviceability">other tips on improving serviceability</a>. 
</li>
<li>
How much can I afford? Just because the banks are willing to give it to you, <a href="/expert-insights/finance/just-how-much-should-you-prudently-borrow-even-if-the-banks-ignore-the-rba-cheap-money-warning">it doesn’t necessarily mean that you can service the debt and maintain your lifestyle</a>. Now is time to practice putting aside the repayment amounts, and factoring in aspects such as interest rate increases, to see if you can really afford it. Speak to your mortgage broker about <a href="/expert-insights/investing/speak-to-your-mortgage-broker-and-banker-to-know-what-you-can-afford-with-a-nice-buffer">the importance of buffers and not overstretching yourself financially</a>. 
</li>
<li>
What type of property am I looking at? Are you looking for a run down property to renovate, or a new build? An apartment or a house? How many bedrooms? Get a clear picture in your mind about the type of property you’re after, and what you’ll need for your own situation. For some with pets, a garden is non-negotiable. For those with children on the way, consider how long you may need to be in this property for and the space available.   
</li>
<li>
What suburbs am I interested in? Now look to the areas that you are keen to live in. Look at what is selling and the prices, and see whether what you can borrow matches up with the area and the type of property you need. If not, see the next question. You can check the median prices and movements with our free suburb data here. 
</li>
<li>
Which factors am I prepared to negotiate on? It’s<a href="/expert-insights/investing/sacrifice-and-compromise-the-reality-of-first-home-ownership-terry-ryder"> time to do some compromising with yourself or some sacrificing</a>. Could you go a couple of suburbs further away where it becomes cheaper? How about a smaller property? If you can’t afford it, sadly you’re going to need to compromise. Perhaps the compromise is waiting for longer until you can afford it. This is a growing reality for first home buyers – just remember, it’s your first home, not your last. 
</li>
<li>
Do I need pre-approval? If you’re looking to head to an auction soon, or would just like some peace of mind, <a href="/expert-insights/finance/why-you-should-secure-finance-pre-approval-before-looking-for-property">have a pre-approval at the ready</a>. Be wary of the limitations around these documents as explained here in this <a href="/expert-insights/finance/a-quick-guide-to-home-loan-pre-approval">quick guide to pre-approvals</a>. 
</li>
<li>
Have I thought about the risks? Taking on any amount of debt comes at a risk to you, and with a substantial amount of debt comes a substantial amount of risk. While you may have heard the term “safe as houses”, buying a property leaves you open to the mercy of the market. You need to be prepared for any eventuality that may affect your financial situation. This includes, but is of course not limited to, losing your job, becoming sick, perhaps having a child, damage to the property, divorce, death and so on. Prepare insurances adequately, and ensure you have a clear understanding of what you’re purchasing. Here are some <a href="/guides" target="_blank" style="line-height: 1.3em;">examples of off-the-plan risks</a>, and here are <a href="/expert-insights/investing/10-risks-first-time-property-investors-need-to-overcome">10 risks that first time investors need to overcome</a>. 
</li>
<li>
What grants and assistance are available to me? Lastly, look into what is currently available to you in terms of first home buyer grants and stamp duty exemptions. These are easily accessed by your state or territory’s office of state revenue or treasury, however you can also <a href="/expert-insights/buying/the-national-guide-to-first-home-buyer-grants">see our cheat sheet guide here</a>. They regularly change, so ensure you seek careful advice.
</li>
</ol>
YOU MAY ALSO WANT TO READ
Letter from the editor: <a href="/expert-insights/buying">FHBs, if you’re not wealthy, you will have to compromise</a>
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The 11 questions every first home buyer should ask themselves

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.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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La Vera closes in on completion as Macquarie Park continues residential transformation

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

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

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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