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A $56 million project, across 7,500 square metres, in Pascoe Vale South is the brainchild of Coburg-based Better Living Group.
The creation, <a href="https://www.thepasco.com.au" target="_blank">The Pasco</a>, is 10 kilometres from Melbourne CBD on Cumberland Road and will offer 142 one- and two-bedroom apartments. They all come with a car space, a storage cage and lift access to the basement carpark. Street level apartments have individual street access.
Of the apartments, 76 are two-bedroom, two-bathrooms from $415,000, ranging from 78 to 144 square metres including the balcony or courtyard.
One-bedroom, one-bathroom apartments, of which there are 66, will range from 58 square metres including a balcony, and are priced from $315,000.
Some of the top level apartments have uninterrupted CBD views.
Pascoe Vale has recently been cited by Australian Property Monitors' as <a href="/news/vic/suburb-spotlight-glenroy-undergoing-gentrification">one of a number of Melbourne suburbs undergoing a gentrification process</a>. Despite this, affordable options still exist - in February <a href="/news/vic/where-can-you-still-find-affordable-housing-in-melbourne">Robert Larocca noted that one in 10 sales in this area sells for less than $400,000</a> - in line with the pricing of these apartments.
RP Data currently <a href="/news">puts the median apartment price for Pascoe Vale at $418,500</a>, with median asking rent at a soft $340 per week and time on the market dramatically decreasing over recent months.
The project, set across four buildings and three levels, has been designed by Point Architects and interior designers Colab Design Studio.
Two of the buildings have 36 apartments, while the other two have 35.
Director at Better Living Group, Dino Mazzei, said that they have been looking at the concept of community mindedness when creating The Pasco.
“With this in mind, we envisage The Pasco as a private community that celebrates and builds on the warmth of the suburb’s long-time residents and aims to be a positive addition to the growing neighborhood,” said Mazzei.
Timber floors, open plan living, and carpeted bedrooms are the basics of the design. Buyers have the option of a classic light or a dark colour palette.
With 2.7 metre ceilings, floor-to-ceiling windows and balconies opening out onto both personal and communal outdoor areas, they have endeavoured to create the indoor/outdoor feel. They have included private landscaped areas covering almost 2,000 square metres.
At the centre of the development is a communal entertainment area with a gazebo and BBQ area.
The apartments also have passive solar heating, ventilation and a standard 6-star energy rating.
Construction is scheduled for early 2015, with completion for the end of the year.
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jduke-EHk3XBmHkn

Locally developed Melburnian apartments launching in Pascoe Vale

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Calling the increase in strata developments and land sales in Western Australia a “boom”, Consumer Protection has provided some clear guidelines for prospective off the plan buyers.
Revealing a booklet to buying off the plan on their website, acting commissioner for Consumer Protection, Gary Newcombe, said that the biggest risk is if the development fails to go ahead as planned.
“For this reason, it is absolutely essential that buyers ensure that any deposit they pay up front is held in a designated trust account by an independent party such as a real estate agent until the property is ready to settle,” Newcombe said.
“When buying off the plan it is also important to know the status of any planning approvals, the likely timelines for these being settled and what happens if approvals are not granted within acceptable periods.”
He noted that the contracts for developments are usually created by the developer and their agents, and so there’s a risk that the developer’s interests are protected but that consumers’ are not to the same extent.
He also said that buyers should consider whether their own circumstances may change, and then affect their ability to fulfil their contractual requirements.
 “There might be changes in the buyer’s financial situation, interest rates may rise and property values may fall – all factors that will affect their ability to get finance when settlement time comes many months or even years down the track,” he said.
“The risk of a buyer defaulting could mean their deposit is lost and the developer could claim other damages and losses.”
He warned that their guidelines should not replace legal advice.
The top seven questions from the guide:
<ol>
<li> What are the pros and cons of buying off-the-plan? 
</li>
<li> Who should hold the deposit and to whom will interest, if any, be paid? 
</li>
<li> What happens if the buyer can’t go through with the deal, or the development doesn’t proceed as planned? 
</li>
<li> Can the developer increase the price of the land or property after the contract with an agreed price is signed? 
</li>
<li> Can the quality of the property be guaranteed and what happens if the builder changes the plans? 
</li>
<li> What’s at risk if the buyer can’t get finance by the settlement date? 
</li>
<li> Under what circumstances can a buyer pull out of the contract without any penalty?</li>
</ol>
Source: Consumer Protection
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Seven questions every off the plan buyer should be asking

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A man who took out home renovation work without a licence, as well as breached home building legislation, has been ordered to pay $40,000 in fines and costs, after facing the Parramatta Local Court this month.
Buddy Charbel Challita, a 42 year old from Greenacre, was convicted ex-parte on 2 May, fined $6,000 for unlicensed contracting of specialist work, $18,000 for thrice demanding/receiving payment before the work had commenced and $18,000 for thrice contracting residential work without an insurance certificate.
Challita also had to pay professional and court costs, totalling $2,095, costing him $44,095 in overall.
He had applied to Fair Trading for a contractor licence in 2009. This was refused as he had a bankrupt status.
Despite this, in April 2013 he contracted with an East Hills home owner to create two new bathrooms, a laundry and a kitchen. The amount of the work would be $33,420. Under New South Wales requirements, this would need a licence. No home warranty insurance was in place.
He also received a $4,000 deposit from that property owner – this is above the 5% maximum allowed under the Home Building Act. After paying these sums, three months passed with little work undertaken. The property owner was then required to pay for other contractors to complete the work.
Acting Fair Trading Commissioner, Rob Vellar, said that the whole idea of the Home Building Act is to protect consumers from these situations.
“Unlicensed building and commencing work without Home Warranty Insurance in place can not only have a potentially adverse impact upon the future re-sale value of a property,” said Vellar.
“It can also been downright dangerous. Always check your builder is appropriately licensed before entering into any contract for home renovations.”
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Unlicensed home renovator and builder ordered to pay more than $40,000

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New data has made its way onto the Property Observer chart of the day list - this time a list of the top number of applications in Victoria.
Here are the top areas, according to the Office of State Revenue, Victoria.
 If you're a first home buyer wondering where you can afford - you can see our free suburb data here.
There should be more information coming soon - in the meantime, you can see <a href="/news/vic/where-are-victorian-first-home-buyers-purchasing">how first home buyers differed in their purchasing habits over October to December 201</a>3.
The below data is based on the number of applications for the first home owners' grant.
<img src="/images/2014/05/09/chart-of-the-week-may-9.jpg" alt="">
Source: State Venue Office of Victoria
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Where are new first home buyers purchasing in Victoria?

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CEO of Ray White Surfers Paradise, Andrew Bell, has said that he welcomes the legislation changes in Queensland that will stop price guides being put on auction properties.
Bell said that the state government were right to stamp out the flawed practice, saying that setting price guides did not serve the best interests of buyers.
“Auctions are meant to be presented based on a free market system and this has been recognised by the state government under these legislative changes,” he said.
“People have missed out on properties because of misleading price guides under systems which allow price guides, such as in the southern states where there is a great deal of consumer dissatisfaction.”
Despite this, Consumer Affairs Victoria has recently been in record noting that there are few complaints, while others cannot agree on the severity of the problem in New South Wales or Victoria.
He said that price guides are often not reflective of a property’s selling range.
An amendment does, however, allow electronic listings provider to be given price range information to determine a search criteria – however, only if they are “satisfied” the provider won’t disclose this information.
{module Do you think the changes should be rolled out to other states and territories?}
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Ray White Surfers Paradise’s Andrew Bell welcomes Queensland legislation changes

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Brisbane CBD's new tallest tower, 81-level Meriton Serviced Apartments Brisbane, includes the highest apartment in Brisbane.
The development, at 43 Herschel Street, includes a penthouse collection where the apartments are offered with three-bedrooms, each with own bathroom, and bases the design on a previously successful launch in Sydney.
Meriton Serviced Apartments' national manager Matthew Thomas, said that <a href="https://www.meritonapartments.com.au/brisbane/herschel-street" target="_blank">these top-floor penthouses</a> include imported marble, custom-made carpeting and prestige leather sofas and dining chairs.
They include views of the city skyline and the Brisbane River to the mountains.
The complex also includes a heated indoor swimming pool and spa, private gym and a sauna.
There is a daily housekeeping service to all the apartments, and also a bi-weekly full housekeeping service.
It appears if you were to book for tonight, a 122 square metre penthouse will set you back around $895 per night, with a sleeping capacity of six people. Booking further in advance may net you the penthouse for under $600 a night.
Each room comes with either one king zip bed, or two single beds. One of the bathrooms has a shower and a bath, where the others have showers.
A TV with some Foxtel channels and a Blu-ray player is included, as well as iPod/iPhone docks in each bedroom, individually controlled heating/air-conditioning, an espresso machine with coffee pods and an internal laundry.
“The penthouses are the perfect special occasion, once-in-a-lifetime experience,” said Matthew Thomas.
Local restaurants provide meal delivery straight to the apartment.
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A sneak peek inside Brisbane's highest apartment

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Only a few days ago <a href="/news/western-australia-building-company-to-pay-10-000-penalty-after-misleading-city-of-geraldton">Property Observer reported about a builder misleading the City of Geraldton</a>, copping a total of $10,000 in fines. This time, it's the City of Stirling who claim to have been misled.
The West Perth builder John Joseph Dryka will pay $10,000 in fines and $2,000 of costs for misleading conduct under the Building Services (Registration) Act 2011, according to the State Administrative Tribunal.
The proceedings, initiated by the Building Services Board, were finalised at the end of March. Essentially, the builder was found to have misled the council, as well as an insurer, as to the estimated value of a Scarborough property's building work, that would involve constructing a three-storey dwelling.
The building licence and home indemnity insurance, that he applied for in December 2007 and November 2007 respectively, were to the value of $850,000. The contract he entered into, however, was $1,799,996.
He then failed to update the local government and insurers of the true value.
Building Commissioner Peter Gow said that being a registered builder is a statement that you have qualifications and experience enough to provide an acceptable service. It also means that the builder is accountable for compliance with building laws and standards.
“Providing building services is an important job – if it’s not done correctly it can put public safety, consumers’ wellbeing and the reputation of the building industry at risk," said Gow.
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Another WA builder fined for misleading council

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Pialligo and Wanniassa, ACT residents are being asked to comment on variations to the Territory Plan that define new maximum height limits for developments and new zoning.
Minister for Environment and Sustainable Development, Simon Corbell, said that the key challenge of the Pialligo masterplan was to protect the agricultural, environmental and historic aspects, while at the same time encouraging “sympathetic” development.
"Draft variation 321 (DV321), addresses these challenges by permitting, restricting and, in some instances prohibiting, a variety of land uses,” he said.
Low-scale agricultural and ancillary commercial developments close to Beltana Road will be encouraged, with control of development to the rear of blocks to assist in retaining high quality soil.
"The project presents an opportunity to encourage low-scale agricultural/commercial character along Beltana Road, while retaining the bulk of the land for agricultural uses," Corbell said.
Meanwhile, Waniassa, and its Erindale Centre, are another focus of Corbell’s.
New roads and a bus interchange site, as well as height increases, are slated for Erindale Centre, with plans for this variation to guide development in the area for the next 10 to 20 years.
Changes will include maximum building heights within the centre between two to five storeys, specifying locations where residential development is permitted as well as introducing commercial opportunities, identifying the location of the bus interchange and rezoning several areas.
"This draft variation contains a road map for how the Erindale Centre and proposed new bus interchange can best develop over time, but it also identifies opportunities for commercial and residential development consistent with the Erindale masterplan,” he said.
Both draft variations – 321 for Pialligo and 320 for Wanniassa – are open for comment until 13 June 2014.
Photo courtesy of Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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ACT’s Wanniassa and Pialligo to see variations to Territory Plan

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Two-tier marketing is a phrase that has been around for many years, and in a nutshell it is a practice that can result in inflated prices, to the disadvantage of the buyer.
Essentially, it means that properties are marketed to different groups at different prices. Usually, this is due to the knowledge of those buying within an area, or the locals, as opposed to those from other areas who are less able to ascertain value. These out of town buyers are, as a result, more likely to pay over the market value.
In 2003, Neil Jenman reported that “the most commonly known two-tier marketing scams are in south-east Queensland. Indeed, 'two-tier marketing' has almost become a synonym for 'Queensland property scam'.”
Two-tier marketing quickly became the buzz conversation that year, with <a href="https://www.abc.net.au/4corners/content/2003/20030421_tall_stories/int_connolly.htm" target="_blank">Four Corners discussing how it could be legislated against</a>.
Stephen McDonell interviewed Chris Connolly from UNSW's Consumer Policy Centre to be told that the growth in the practice had been rapid.
"It's surprising that Queensland - which does have Fair Trading legislation - didn't exercise the powers in that legislation earlier and crack down on such an obvious scam. They seem quite willing to allow two-tier property marketing to take place - especially in south-east Queensland - because of the economic growth which resulted, basically from ripping off people from other states," he was recorded as saying.
At the time, Jenman noted that valuer Iain Herriot came up with the term in the 90s after he noticed that some sales were also starting to be valued at the higher price due to comparisons made with sales that had already been inflated.
Imagine going to see a development in an area you have never heard of. You’re buying a premium product, and you’re told that very little like it has been created before this time. You buy a two-bedroom apartment for $600,000. Later, you find out that a number of other local buyers bought the same property for $480,000. Perhaps you fail to do your due diligence, or you trust an adviser who does not work in your best interest. Either way, you’ve just been scammed into paying more than what it is worth.
It’s only when the property sells that this may become clear.
In fact, in June/July 1999 Iain Herriot took to the pages of Australian Property Investor (API) magazine to discuss the practice he first noted in 1991. He said that when valuations were not stacking up, developers, investment groups and similar took to blaming ‘conservative’ valuers.
Jenman went on to note in 2003 that it was a national epidemic.
“In ten years from now, we are going to look back on this period, see the tens, probably hundreds of thousands of victims who have lost billions of dollars between them and ask one question. How could this happen?”
The Real Estate Institute of Australia has also overtly told real estate agents not to be involved in such selling schemes.
For instance, they include the following points in their guidelines:
<ul>
<li>Real estate agents must not engage in the practice of setting different tiers of pricing, with higher prices being charged to consumers who are, for example, resident outside the particular area of the property or who are otherwise unaware of material facts such that they are prepared to pay prices for the property that are higher than the prices that those who are aware of those facts would be prepared to pay. 
</li>
<li>Real estate agents must not induce potential purchasers of property to believe that the stated price of a property is a fair market value when the price has been inflated by matters irrelevant to the value of the property such as marketing fees, commissions and profits.</li>
</ul>
Clearly, it is not only unethical but illegal to take part in selling in this manner.
Now, 11 years since Jenman posted his blog suggested we would be dealing with a nationwide epidemic, it appears he may be correct.
Terry Ryder has been overt in <a href="/expert-insights/buying/the-inner-melbourne-boom-is-toxic-growth">suggesting that some properties in Melbourne may be subject to two-tier marketing</a>.
However, it is not just interstate buyers being fed inflated prices, but those offshore who are not clear on the costs. With 'out of town' replaced with 'overseas' buyers, who are arguably even less familiar with specific Australian real estate markets and their rights, the debate has started to surged again.
Recently, Property Observer reported that GiFang.com’s Michael Yang<a href="/news/china-based-estate-agencies-selling-australian-properties-through-inflated-two-tiered-pricing-schemes"> believes that China-based estate agencies are selling properties to China-based buyers at inflated prices</a>. It was noted that 10% of those agents are expected to be taking part in two-tier marketing, as Chinese buyers are offered 'exclusive' lots at different prices to those sold locally.
This is currently up for debate. However, two-tier marketing appears ready to hit the limelight again as a topic of discussion.
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What is ‘two-tier marketing’ and why are we hearing more about it?

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Property Observer <a href="/news/reia-urges-government-to-allow-fhbs-to-dip-into-superannuation-for-a-home">previously reported about the REIA's proposals for the 2014/2015 federal budget</a>.
Here are the 10 wishes they look to see fulfilled next week.
The REIA’s 10-item pre-budget submission wishlist:
<ol>
<li>Ensure the availability of reliable data on housing demand and supply to formulate appropriate policies and to monitor their effectiveness. 
</li>
<li>All states and territories uphold the initial intent of the Intergovernmental Agreement in Federal Financial Relations Schedule A, that assistance to first home buyers will be “uniform” and that “an eligible home will be new or established”. 
</li>
<li>Review the amount of the First Home Owner Grant annually to maintain relativity with house price movements. 
</li>
<li>Allow first home buyers access to their superannuation for the purchase of a home. 
</li>
<li>Retention of current arrangements for negative gearing of property investments. 
</li>
<li>No increase in capital gains tax on property investments. 
</li>
<li>Abolish stamp duty on property transactions in favour of an efficient source of revenue for states and territories. 
</li>
<li>Improve the supply of housing for social housing tenants transitioning to private rental by utilising private investment. 
</li>
<li>Monitor Housing Affordability Fund (HAF) and National Rental Affordability Scheme (NRAS) to observe its effects on housing supply and to conduct a review which  considers additional measures to bridge the demand-supply imbalance. 
</li>
<li>Ensure the Australian Skills Quality Authority (ASQA) funding is adequate to ensure nationally approved quality standards are met for vocational education and training. It is also imperative that outcomes be assessed by government around how well the Authority has ensured the integrity of the VET sector.</li>
</ol>
Source: REIA Budget submission. You can <a href="https://reia.asn.au/wp-content/uploads/2014/03/REIA-Pre-Budget-Submission-2014-15.pdf" target="_blank">read it in its entirety here</a>.
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The REIA's 10 point wishlist for the federal budget

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[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

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

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

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