It was just over a year ago that Ellipse Property Group announced it had received approval for one of the largest, and greenest, masterplanned developments in the booming Castle Hill.

Since then, they've launched the first stage, <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Atrium</a>, sold half of its apartments, and begun groundworks after demolishing the previous buildings on the expansive 3.2-hectare site in the rapidly growing Showground Precinct.

Atrium comprises 147 apartments and sits as the gateway building to nature-fuelled masterplan that has over 30 per cent of site coverage dedicated to green open spaces.

[smartcode_project:default project_id=89496 project_image_fid=216770]

Ellipse Head of Development, Nigel Farquhar, said buyers have responded well to the design and amenity put into the apartments.

"Owner-occupiers have jumped at the opportunity to be a part of what is likely to be the greenest community to be produced in <a href="/developments/castle-hill-nsw-2154">Castle Hill</a>," Farquhar says, adding the team is seeing significant interest in the upper end of the market.

While generally downsizers are happy to wait for construction to be further advanced so they have more firm timelines to get their affairs in order and sell their current home, Farquhar says that hasn't been the case for some purchasers at Atrium.

[smartcode_project:default project_id=89496 project_image_fid=216765]

Downsizers, in particular, have been drawn to the design, finishes, and spacious layouts we offer, as well as the unique opportunity to collaborate with Ellipse's design team to alter floor plans at this early stage of construction,” says Farquhar.

“They are confident in committing, knowing that Ellipse is the developer and Decode, a gold star iCIRT-rated builder, is behind the project. They recognize the distinctiveness we’re offering and don’t want to risk missing out on the one-of-a-kind layouts available at this stage.

Farquhar notes that the architecture by Stanisic Architects and Tony Owen Partners, along with the masterplan’s landscape design by Site Image, has been a major drawcard for buyers.

“Ellipse’s design team, led by Associate Director Puja Khanna, recently refined some of the designs for the upper levels and penthouses. These updates were soft-launched and received a strong market response, with one penthouse being reserved at the early stage of hand sketches,” Farquhar says.

[smartcode_project:default project_id=89496 project_image_fid=216764]

Many apartments in Atrium are tailored to suit downsizers or right-sizing owner-occupiers, featuring expansive internal spaces that open onto generously sized balconies or garden courtyards.

A factor for these buyers has been the abundance of nature and space at Carrington Place, with over 20,000 sqm of recreational space and the one-kilometre boardwalk along Cattai Creek that connects the precinct to the nearby Fred Caterson Reserve.

Farquhar explains that future stages—of which there will be five—are designed to attract a broader range of demographics into the masterplan.

“The next stage will feature more diverse apartment configurations that will appeal to first home buyers and investors, while the current stage is primarily attracting owner-occupiers," he says. "There’s a significant demand for this type of product, but there isn’t much available on the market."

[smartcode_project:default project_id=89496 project_image_fid=216769]

Farquhar highlights that the new metro line has been a game-changer, particularly for investors. “The fundamentals haven’t been favourable for investors in recent years, as seen by the decline in investor activity across Greater Sydney and Australia. However, the shortage of rental apartments in the area, combined with the new metro opening, which provides young professionals with easy access to the city, is expected to offer investors a strong yield."

The new Hills Showground Metro will transport Castle Hill residents to Barangaroo in just 33 minutes.

<a href="/developers/ellipse-property-group">Ellipse Property Group</a> currently has two projects on the market: <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a>, featuring over 750 units, and <a href="/new-apartments/east-cowper-granville-2-6-cowper-street-granville">East and Cowper</a>&nbsp;in <a href="/developments/granville-nsw-2142">Granville</a>, offering 264 units. The group maintains a robust development pipeline with plans to deliver more than 1,000 homes in the next few years.&nbsp;

Ellipse is planning to release the second stage of the Carrington Place masterplan early next year, with <a href="/builders/decode">Decode</a> already on-site at Carrington Place, aiming to complete Atrium by late 2025. The entire masterplan is expected to be finalized by 2032.

&nbsp;

[smartcode_project_cta:default project_id=89496]

Farquhar explains that future stages—of which there will be five—are designed to attract a broader range of demographics into the masterplan

Joel Robinson

Inside the first stage success of Ellipse's $850 million Castle Hill masterplan, Carrington Place

<a href="/developers/coronation-property">Coronation Property</a> has launched the final apartments and terraces in the first stage of its unique multi-residential development in Sydney's inner west.

The $200 million <a href="/new-townhouses/ashbury-terraces-ashbury-165-171-milton-street-ashbury">Ashbury Terraces</a> offers something unseen before in the heritage suburb of <a href="/developments/ashbury-nsw-2193">Ashbury</a>, just past Dulwich Hill and south of Ashfield where there has been little to no new development in decades. That's because the majority of Ashbury is designated as a heritage conservation area, and is dominated by post-war brick bungalows.&nbsp;

There are so few development opportunities in the suburb that is only home to 3,000 people.&nbsp;

Designed by Coronation's longterm architecture partner <a href="/architects/sjb-architects">SJB</a>, Ashbury Terraces comprises 59 garden terraces and 68 premium apartments, as well as three penthouses.

[smartcode_project:default project_id=112253 project_image_fid=294597]

The one-bedroom apartments are considered, with a separate study nook positioned off the open-plan living spaces. The one, two and three-bedroom apartments feature integrated Fisher &amp; Paykel appliances and north-facing balconies.

The two and three-bedroom apartments have private balconies for each bedroom. Their balconies overlook The Garden, a private green space with landscaped pathway central to Ashbury Terraces, as well as the neighbouring W H Wagener Oval.

[smartcode_project:default project_id=112253 project_image_fid=294593]

The Terrace Collection features multi-level garden homes with three bedrooms, two bathrooms, and two parking spaces. These terraces are characterised by open atriums, skylights, private rooftop retreats, and spacious backyards and courtyards.

The development also includes several amenities for residents, such as a heated pool, outdoor dining spaces with barbeque facilities, a fully equipped gym, and access to electric car chargers.&nbsp;

with barbeque facilities, a fully equipped gym

[smartcode_project:default project_id=112253 project_image_fid=294629]

The first stage of Ashbury Terraces is now topped out and is expected to see residents move in by Christmas.

The second stage of the development, which has already commenced construction, is slated for completion in late 2025.

[smartcode_project_cta:default project_id=112253]

The first stage of Ashbury Terraces is now topped out and is expected to see residents move in by Christmas

Coronation Property release final residences in first stage of Ashbury Terraces as buyers eye Christmas move-in

Brisbane's apartment and townhouse market hasn't seen a boom like it is currently witnessing for nearly four decades.

It was 1988 the last time the Brisbane unit market was performing better than it is so far in 2024.

Data gathered by Urban from property data analytics firm, CoreLogic, showed that, following a 1.8 per cent jump in unit values in July, Brisbane's unit market is now 12.8 per cent up over 2024 to August.

Units have already grown at a higher rate than the whole of 2023 (12.5 per cent), and in another two months will surpass the boom in 2021 (14.3 per cent).

Back in 1988, growth over the first seven months of the year was 16 per cent.

The 2024 boom has seen the median value of units across Brisbane soar from $561,000 to $638,000, surpassing&nbsp;<a href="/developments/melbourne-vic" target="">Melbourne</a>&nbsp;and Canberra to become the second most expensive capital city unit market in the country.

At the current trajectory, Brisbane units are primed for over 20 per cent growth in 2024, which would take the median unit value to nearly $700,000.

The boom in the unit market has been a lack of supply across the whole city. Brisbane is one of the most undersupplied markets in the country compared with the demand flooding into the Queensland capital, partly driven by the Brisbane 2032 Olympics, partly by the lifestyle benefits of South East Queensland that have been highlighted to the rest of the country since the onset of the pandemic.&nbsp;

The last few years have proved difficult for developers to get new apartment buildings out of the ground, with the majority of builders workbooks full as the government seeks to pour billions into infrastructure upgrades. That, paired with increased labour and material costs, has slowed down supply considerably.

There are some green shoots emerging, however, with construction costs stabilising and developers working toward a new normal.&nbsp;The supply of new apartments is looking a little healthier the deeper we get into 2024, with several major developments coming to market either later this year or early next.

<a href="/developers/kokoda-property" target="">Kokoda Property</a> recently unveiled <a href="/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, on the riverfront Skyring Terrace, which will deliver five buildings as part of the $1.5 billion masterplan. There will be 200 luxury apartments as part of the development, as well as&nbsp;Brisbane’s first Kimpton Hotel, a 200-plus-seat signature restaurant and bar, spa with multiple treatment rooms, a fitness centre, large-scale multi-purpose meeting and event spaces, as well as an open-air Garden Terrace complete with infinity pool, and a rooftop bar with Brisbane city views.&nbsp;

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="1073690d-30f0-456a-94bb-d2a2e6138e79" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-28%20at%2010.07.58%E2%80%AFAM.png?VersionId=5yEzIk0SWZ3Za8TOG3qzVJiQ5szezshn" />

Kokoda has sold over 80 per cent of the apartments in its nearby Milton development, Ruby Ruby, one of the only tower developments to launch in the whole of Brisbane in 2024.

Developer Sarazin had the one before that. They recently appointed Hutchies to build <a href="/new-apartments/murcia-residences-east-brisbane-9-overend-street-east-brisbane">Murcia Residences</a> and in July broke ground at the Overend Street site just 150 metres from The Gabba.

[smartcode_project:default project_id=135094 project_image_fid=214681]

Murcia Residences&nbsp;sits on the border of&nbsp;<a href="/developments/woolloongabba-qld-4102">Woolloongabba</a>&nbsp;and&nbsp;<a href="/developments/east-brisbane-qld-4169">East Brisbane</a>&nbsp;and has been inspired by the Spanish city of Murcia. It comprises 210 one, two and three-bedroom apartments in a Mediterranean-influenced building.

Crowning the building will be an&nbsp;<a href="/news/qld/the-top-10-best-apartment-rooftops-in-brisbane">impressive rooftop</a>&nbsp;with a&nbsp;heated infinity pool, cold and warm magnesium plunge pools, spa, sauna, bookable private dining room, work-from-home spaces, fully equipped gym and various outdoor alfresco BBQ areas.&nbsp;

[smartcode_project:default project_id=135094 project_image_fid=214685]

Sekisui House Australia is selling the final apartments in the penultimate stage of its $1 billion West Village community in West End. The Opulent Release features the four and five bedroom apartments atop towers UNO and DUO, which make up the <a href="/new-apartments/the-allere-collection-west-village-mollison-street-west-end">Allere Collection</a>.

Only one tower remains in West Village. <a href="/news/qld/first-look-exclusive-sekisuis-plans-for-west-village-final-tower-callista-on-park">Callista on Park</a> is expected to launch next year and will home <a href="/new-apartments/callista-on-park-west-end-49-mollison-street-west-end">just over 70 three and four-bedroom apartments</a>.

[smartcode_project:default project_id=114215 project_image_fid=207148]

Family-run developer Gardner Vaughan is consistently delivering apartments to the undersupplied market.

They'll finish both&nbsp;<a href="/new-apartments/estilo-on-the-park-chermside-81-kittyhawk-drive-chermside">Estilo on the Park</a> in <a href="/developments/chermside-qld-4032">Chermside</a>&nbsp;and <a href="/new-apartments/stonebrook-stones-corner-10-flora-street-stones-corner">Stonebrook</a> in <a href="/new-apartments/stones-corner-qld-4120">Stones Corner</a>&nbsp;in early 2025.

They have more supply coming, in <a href="/developments/nundah-qld-4012">Nundah</a>, where they have the mixed-use precinct <a href="/new-apartments/danby-lane-nundah-village-5-danby-lane-nundah">DANBY LN</a>, 84 apartments above extensive retail.

[smartcode_project:default project_id=114094 project_image_fid=249477]

There's plenty of activity in the affluent <a href="/developments/kangaroo-point-qld-4169">Kangaroo Point</a> where <a href="/developers/pikos-group">Pikos</a> is preparing to launch its second development in the riverside suburb. Having secured a string of sales at the relaunch of its River Terrace development <a href="/new-apartments/skye-residences-kangaroo-point-8-river-terrace-kangaroo-point">Skye Residences</a>, Pikos is soon to launch <a href="/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point">Gaia</a>, just 650 metres away.

Gaia will feature just over 200 two, three and four-bedroom apartments across two 15-level buildings at 108 Lambert Street, one of the best streets in Kangaroo Point.

The development site, unrepeatable in today's expensive land market, will carve out a whole acre dedicated to a community park.

Gaia residents will also have exclusive access to wellness&nbsp;amenities including a riverside pool and pool terrace, with hot and cold plunge pools, set amongst the landscaped gardens, as well as an indoor/outdoor gym, BBQ and outdoor dining, rooftop dining and garden workshop, yoga lawn and outdoor cinema, private dining room, and work-from-home lounge.&nbsp;

<img alt="Gaia" data-entity-type="file" data-entity-uuid="0761d537-6ceb-4f40-b324-9bc0e6f5b2c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-27%20at%203.40.13%E2%80%AFPM.png?VersionId=iNXc0tredew0jCmncN2MaQ.JRLuzKjbD" />

Kenlynn is also preparing to launch its Kangaroo Point development <a href="/new-apartments/130lambert">130Lambert</a>, named after its location just a few doors down from Gaia.

130Lambert, designed by Ellivo Architects, will comprise just 36 apartments with a rooftop pool and fitness zone.

Developer builder Mosaic Property also has a couple of projects in the cross hairs in Kangaroo Point, one on Linton Street, one row back from The Gabba.

The inner-city suburb of&nbsp;Spring Hill is also set for a refresh to its new apartment supply.

<a href="/developers/cbus-property" target="">Cbus Property</a>&nbsp;has just launched <a href="/news/qld/cbus-property-propose-sustainable-rothelowman-designed-brisbane-apartment-development">185 Wharf Street</a>, which has been some nine years in the making.

Cbus secured the prime 1,835 sqm site back in 2015. In 2022 they filed plans for a 30-level <a href="/architects/rothelowman" target="">Rothelowman</a>-designed tower with 125 two, three and four-bedroom apartments.

The all-electric building features a 1,000 sqm sub-tropical garden on level two, featuring a 20-metre open-air swimming pool, spa and sauna, gym, private dining space, lounge and landscaped open gardens with barbeque and children’s play areas.

<img alt="185 Wharf" data-entity-type="file" data-entity-uuid="e673ce8f-5138-4bf7-b6d9-94dc157cac3b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-27%20at%203.03.54%E2%80%AFPM.png?VersionId=I4bNfSJdEAaq1QsvkMl2vDHPOPfSQCTD" />

Franco Di Bartolomeo's <a href="/developers/dibcorp-properties">Dibcorp</a> will also be taking its redevelopment of the Spring Hill Hotel to market in the coming months.

Dibcorp, which sold out Bide Newstead before its completion last year, will be creating an 18-level mixed-use tower <a href="/news/qld/dibcorp-set-to-redevelop-former-spring-hill-hotel-into-apartment-development">above the former Spring Hill Hotel</a> that has fallen into disrepair in recent years.

Above the hotel, and new retail and commercial spaces, will be 126 two and three-bedroom apartments.&nbsp;Jeremy Gilmore at 360 Property will be handling the sales at <a href="/new-apartments/one-hundred-spring-hill">100 Leichhardt Street</a>.

An injection of supply is also expected at the start of 2025, around the same time most markets are expected interest rates to start coming down.

<a href="/developers/shayher-group">Shayher</a>&nbsp;is expected to launch the first stage of its 20-hectare mixed-use precinct, <a href="/new-apartments/bulimba-barracks-stage-1-167-apollo-road-bulimba">Bulimba Barracks</a>. Urban <a href="/news/qld/first-look-exclusive-shayher-group-file-for-first-stage-of-bulimba-barracks">revealed the plans</a> for the first stage when they hit council desks in May.&nbsp;

Shayher is first focusing on a 6,382 sqm block fronting Apollo Road in the northwest corner of the site. They're planning two low-rise apartment buildings with 69 apartments, separated by a laneway from the fabrication workshop which will be restored.

Harry Triguboff's <a href="/developers/meriton">Meriton</a>&nbsp;has plans in the city centre for nearly 800 apartments at <a href="/new-apartments/204-alice-street-brisbane">204 Alice Street</a>, a tower which will replace the old Gardens Apartments building directly across the road from the City Botanic Gardens.

<img alt="Meriton" data-entity-type="file" data-entity-uuid="551e964e-1fd2-4fbd-a3f6-585af070d55b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-27%20at%203.21.50%E2%80%AFPM.png?VersionId=Tjk0gGAt1OcvoeJEZ2xNDfL6Jx.BDwND" />

The $1.3 billion development on a 5,485 sqm site will also include a childcare centre, retail and food and beverage spaces, and communal open space facilities like swimming pools, an outdoor gym and play space on the level five podium level, before it gives way to the main tower structure.

Then there's the proposed 71-level tower at&nbsp;<a href="/new-apartments/25-mary-street-brisbane">25 Mary Street</a>, which would be <a href="/news/qld/inside-koichi-takadas-designs-for-one-of-brisbanes-tallest-apartment-towers">one of the tallest in Brisbane</a>. Plans by James and John Kaias's KS Property are for a <a href="/architects/koichi-takada-architects">Koichi Takada</a>-designed tower with 571 apartments.

Salter Brothers, the owners of Spicers Retreat, will be making its apartment debut in Brisbane with a <a href="/news/qld/first-look-exclusive-salter-brothers-plot-new-brisbane-apartments">new 17-level development in Upper Mt Gravatt</a>,&nbsp;while the likes of <a href="/developers/fortis">Fortis</a> and <a href="/developers/forme">Forme</a> have more boutique developments on the table in <a href="/developments/newstead-qld-4006">Newstead</a> and <a href="/developments/teneriffe-qld-4005">Teneriffe</a>.

At the current trajectory, Brisbane units are primed for over 20 per cent growth in 2024, which would take the median unit value to over $700,000

Brisbane units growing at fastest rate since 1988

Prolific property developer, ALAND, has brought yet another residential development to Sydney's western suburbs.

ALAND Founder and Owner Andrew Hrsto, along with Dr Andrew Charlton and Parramatta&nbsp;Lord Major Cr Pierre Esber, cut the ribbon on Paramount on Parkes, the latest in a long line of new apartment developments <a href="/builders/aland">ALAND</a> has delivered over the last two decades.

The $357 million, 46-level tower features 331 apartments and over 3,000 sqm of premium commercial space, cleverly located on the top five levels of the building.&nbsp;

[smartcode_project:default project_id=9187 project_image_fid=294800]

Dr Andrew Charlton praised ALAND for supplying exactly the type of high-quality homes that Parramatta needs to help drive the city’s future economic growth.

“We’ve got fantastic new transport infrastructure – from the light rail to the new Metro, wonderful new parks and recreation areas, the new pool and a new stadium,” Dr Charlton said at the ribbon cutting.

“What we need in this city is high-quality housing stock and we need it here in the CBD -- and that’s what you’ve provided. ALAND had the vision and the capability to create a building near public transport, in the middle of this thriving city – and that is what Australia needs right now."

<img alt="Hrsto" data-entity-type="file" data-entity-uuid="5a89bb70-5445-4002-8bb8-9039596de03c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Hrsto%20Parramatta.jpg?VersionId=8T4M9K7buOS11RCdL5dRxBKNdvfmbJHv" />Andrew Hrsto alongside Dr Andrew Charlton and Lord Mayor Cr Pierre Esber. Image supplied

<a href="/buildings/paramount-on-parkes-harris-park-14-20-parkes-street-harris-park">Paramount on Parkes</a>, which features amenities such as a swimming pool, landscaped gardens and a children’s play area, was named Best Mixed-Use Development in Australia at the prestigious 2023 Asia Pacific International Property Awards.

Parramatta Lord Mayor Cr Esber told the gathering that he would like to see many more buildings like Paramount on Parkes going up around the city in order to meet Parramatta’s current and future housing needs.

“There are only a few [construction] firms in Sydney that are capable of doing these projects and ALAND is one of them,” he said.&nbsp;

[smartcode_project:default project_id=9187 project_image_fid=294803]

Andrew Hrsto paid tribute to the entire ALAND team that has worked on Paramount on Parkes – the tallest structure in its 22-year history.

“I couldn’t be prouder of this building,” he said. “It’s a great achievement.”

Hrsto said putting his company’s name on the top of the building symbolised ALAND’s ongoing role in the development of Parramatta.

“This project is a centrepiece for ALAND, so much so that we will be moving our corporate headquarters here next year. That’s how committed we are to the future of Parramatta.”

ALAND has six display apartments to show prospective buyers.

Paramount on Parkes is expected to welcome its first residents next month.

[smartcode_project_cta:default project_id=9187]

Andrew Hrsto paid tribute to the entire ALAND team that has worked on Paramount on Parkes – the tallest structure in its 22-year history

ALAND opens Paramount on Parkes, Parramatta's new landmark apartment development

Rosella, the only new apartment development in Melbourne's&nbsp;<a href="/developments/murrumbeena-vic-3163">Murrumbeena</a>, is gathering significant traction in both its sales and construction.

Over half of the 70 apartments have already sold in the Rosella Street project by <a href="/developers/damgar-group">Damgar Property Group</a> which is slated for completion in late 2025.

<a href="/new-apartments/rosella-murrumbeena-50-rosella-street-murrumbeena-vic-3163">Rosella</a>, designed by <a href="/architects/cera-stribley-architects">Cera Stribley</a> and ideally located across the road from Hughesdale Station and Hughesdale Village, presents a rare opportunity to buy brand new in the south-east Melbourne suburb.

Only 100 new apartments were delivered between the 2016 and 2021 census, primarily due to a scarcity of development sites.

[smartcode_project:default project_id=142221 project_image_fid=288651]

<a href="/architects/cera-stribley-architects">Cera Stribley</a>&nbsp;crafted Rosella's facade to feature a combination of rough-cast concrete, dark terrazzo, and warm copper accents.&nbsp;

The idea was to mirror the curves of the underpasses at Hughesdale Station, while also using different materials and tones to differentiate the ground-level podium, which will be home to several commercial tenancies, with the residential component above.

The curved facade informs the interiors of each apartment, with visually appealing curved interior walls, a feature more commonly found in higher-end apartment developments.

[smartcode_project:default project_id=142221 project_image_fid=288652]

The apartments have open plan kitchen, living and dining spaces that open to large terraces.

At seven levels, Rosella will be one of the tallest buildings in the area, so Cera Stribley has created a communal rooftop space with outdoor kitchen and alfresco dining that will offer views over the neighbouring suburbs and back to Melbourne.

[smartcode_project:default project_id=142221 project_image_fid=288656]

Rosella residents will be on the doorstep of Hughedale Village which has several cafes, a wine bar, The O.C Public Bar and Hellenic Depot across the road.

Within a three-minute drive is Chadstone Shopping Centre, the biggest shopping centre in Australia.

Builder Markscon is progressing well with construction. Buyers are expected to move in before Christmas 2025.

[smartcode_project_cta:default project_id=142221]

&nbsp;

Rosella Murrumbeena apartments snapped up as construction advances

Diversified New Zealand developer&nbsp;<a href="/developers/safari-group">Safari Group</a>&nbsp;is expecting its newest apartment development to appeal to both locals and overseas investors, given its prime location on the fringe of Queenstown.

Safari Group is set to launch&nbsp;Mountain Oak Apartments in Frankton, just seven kilometres outside of Queenstown's centre and&nbsp;three kilometres from the airport.

Mountain Oak Apartments will have a mix of 141 one, two and three-bedroom apartments starting from NZ$639,000 (AU$586,000).

Residents of Queenstown, as well as local and overseas investors, are expected to show significant interest in the apartments that are located close to one of Queenstown's best ski slopes, The Remarkables.

Apartments start from 49 sqm and range in size to 249 sqm. There will be 36 one-bedroom and one-bedroom flexi apartments, 40 two-bedroom and two-bedroom flexi apartments, four three-bedroom apartments, three penthouses, and four private entry apartments.&nbsp;

Dual-key apartments from 74 sqm are also available. A dual-key apartment is legally one property held under one title, but they are actually two separate residences. There is a shared entryway but two separate front doors, providing an opportunity for double rental income.

Mountain Oak Apartments deliberately doesn't have extensive onsite facilities, knowing their likely usage is for ski holidays. The idea is to keep body corporate costs down for investors.

Architecture firm Studio 37 designed Mountain Oak Apartments.

Studio 37 Director,&nbsp;Gary Bickerton, said&nbsp;Queenstown’s beautiful environment is the inspiration for the design of the apartment building.

"The inspiration from the environment is reflected in the choice of natural colours and materials in the design of the building.&nbsp;The building design is derived from classic proportions, modulated to create a natural balance in the articulated facades.

"The master planning of the building allows the design of the apartment’s living spaces to have spectacular views of the surrounding landscape of Queenstown."

<img alt="Frankton" data-entity-type="file" data-entity-uuid="9b4c0033-d2ae-45d4-b3ea-2a05bf81e213" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%202.54.06%E2%80%AFPM.png?VersionId=Y9YCJHiDxsgXEKjZlKhuWbbRm4_.Ah0C" />

Queenstown is a popular holiday destination year-round, but is busiest during the snow season, which runs from around mid-June to mid-September. Queenstown’s popularity means short-term visitor accommodations are in high demand, and Safari Group has calculated that the average annual gross return for a Mountain Oak Apartment running as a visitor accommodation is 7.43 per cent.

After New Zealand locals, Australians are the second most active buyers in the New Zealand property market. Of the 33,609 home transfers in the June 2024 quarter, 804 were to buyers who stated an overseas tax residency, according to Statistics NZ. Of the 804, 306 were from Australia.

There is no stamp/transfer duty for Australians to pay when they buy property in New Zealand, in comparison to the four per cent minimum they have to pay in Australia.

Safari Group was founded in the mid-1990s, and has since established a reputation for building some of New Zealand’s most prized mixed-use properties. Safari Group is still one of the only vertically integrated property developers, handling both the development and the construction process.

Safari Group has had success in Queenstown before, developing four mixed-use residential hotel properties in the area since 2016: the La Quinta, Wyndham Garden and two Ramada Hotel and Suites.

Safari Group Senior Development Manager, Josh Van Veen, said Queenstown is a place that is high on people’s travel lists, both from locals and those living internationally.

"Queenstown is the premier all-seasons visitor destination of the South Island,"&nbsp;Van Veen said.

"It peaks all year round in both winter for skiing and snowboarding, and summer for hiking, cycling and water sports."

Van Veen said the property market in Queenstown is always strong due to strong rental demand.

"There is a high tourist and residential living demand and a shortage of housing options, with a limited supply of stock for both renters and home buyers.

"There are lots of short-term visitors and long-term tourism workers always in the area looking for a place to stay or live.

"Queenstown properties generally give a good return on investment, so this is an opportunity for investors to either dip their toes into property investment or continue their investment journey and add another property to their portfolio."

Aussies drawn to Queenstown ski fields for affordability and investment potential

Gold Coast locals, alongside Sydney and Melbourne buyers, have jumped at the opportunity to be a part of an exclusive collection of apartments in one of Main Beach's newest developments.

It was only last month that <a href="/developers/drew-group">Drew Group</a> revealed the Signature Collection, just 12 sub penthouses and three luxury penthouses atop their two-tower development <a href="/new-apartments/lagoon-main-beach-11-23-cronin-avenue-main-beach">Lagoon Main Beach</a>, currently under construction by <a href="/builders/hutchinson-builders">Hutchinson Builders</a>.

They've already had several strong enquiries in the penthouse apartments, and three sub-penthouse sales, with all buyers coming from the local area.

"The unrepeatable nature of these apartments hasn't been lost on buyers," Drew Group Managing Director Jon Drew told Urban.

"It will be hard to replicate the sheer size of these apartments. No expense has been spared to create these luxurious sub-penthouses and penthouses. At this price point, it’s an opportunity that may never be repeated in a new Main Beach development."

The Sunrise and Sunset towers, standing at 32 and 24 levels respectively, offer sweeping views of the ocean, Broadwater, and Gold Coast Hinterland. The two towers, which are already 85 per cent sold through Pezet Matheson, feature 143 apartments in Sunrise and 116 in Sunset.

[smartcode_project:default project_id=108747 project_image_fid=284864]

The Signature Collection at&nbsp;<a href="/new-apartments/lagoon-main-beach-11-23-cronin-avenue-main-beach">Lagoon</a> incorporates the top four levels of the Sunrise building and just one exclusive level of the Sunset building. The apartments are anchored by a central kitchen with an integrated fridge and Gaggenau appliances, Vintec wine fridges, zip taps and a full-bodied waterfall edge natural stone island bench, forming the heart of the home.

The sub-penthouses, which are priced from $3.25 million, start from just over 200 sqm and have three bedrooms plus a multipurpose room, while the three dual-level penthouses from $5.95 million, range in size from 402 to 486 sqm and have four bedrooms plus a multipurpose room and a luxury bar area with a wine fridge.

The most impressive feature of the penthouses is the second level, accessed by a curved stairway. They include a master suite with balcony and ensuite, and a second living area that opens a private recreation deck with alfresco space, outdoor kitchen, and a plunge pool on a raised podium.

[smartcode_project:default project_id=108747 project_image_fid=293106]

Lagoon is strategically positioned in the heart of Main Beach on Cronin Avenue, a short walk to the bustling retail and commercial precinct of Tedder Avenue.

The area is undergoing a drastic transformation from a lifestyle perspective with the redevelopment of the Marina Mirage shopping precinct, the Manta Ray residential and commercial development and Ritz Carlton hotel among several other key developments that will put <a href="/developments/main-beach-qld-4217">Main Beach</a> on the world map. The focus in the residential development market has been on bespoke luxury, rather than the traditional high-rise developments that appeal more to the masses rather than the few.

That shift has primarily been driven by both interstate money flooding into the Gold Coast, but also the availability and cost of land given extraordinary demand for property in the region over the last few years.&nbsp;

[smartcode_project:default project_id=108747 project_image_fid=293107]

To put it into context, other developments either recently completed, under construction, or earmarked for development, are predominantly beachside and sit on sites no greater than 1,500 sqm. Lagoon sits on over 4,000 sqm, the largest site amalgamation in Main Beach since the 1980s.

Fully funded and slated for completion in late 2025, Lagoon will rise from the heart of Main Beach on Cronin Avenue.

The award-winning, <a href="/architects/plus-architecture">Plus Architecture</a>-designed towers are being built around a central lagoon pool and have a raft of other building amenities, from an exclusive podium-level resident’s entertainment lounge and garden with designer cooking stations and a fitness centre with an adjoining yoga terrace to a 24/7 network-connected boardroom and dedicated work spaces to meet the work from home lifestyle.

[smartcode_project_cta:default project_id=108747]

Fully funded and slated for completion in late 2025, Lagoon will rise from the heart of Main Beach on Cronin Avenue

Buyers snap up Drew Group's Signature Collection at Lagoon Main Beach

Willing Property has marked the construction of its latest Perth apartment development, West Residences in Mt Lawley.

A groundbreaking ceremony was attended by Minister for Housing, Hon. John Carey MLA, and Willing Property Founder Tim Willing to mark the start of construction that will be handled by Willing Property's inhouse building arm, Willing Build.

West Residences is set to be an iconic addition to <a href="/developments/mount-lawley-wa-6050">Mount Lawley</a>, designed in collaboration with acclaimed architects Klopper &amp; Davis and internationally renowned landscape architects CAPA.

They were inspired by the New York landmark the Flatiron building. <a href="/new-apartments/west-residences-mount-lawley-141-west-parade-mount-lawley">West Residences</a> will home 29 large-scale apartments atop a Willing Coffee shop on the ground floor.

[smartcode_project:default project_id=138755 project_image_fid=280579]

Three generations of the <a href="/developers/willing-property">Willing</a> family have resided in Mount Lawley, a suburb which Tim says he has a "life-long love for."

"I want to provide the opportunity for people to stay in an area they love, as well as give others the chance to move in and create family memories like the ones I've been fortunate enough to make.”

Tim said&nbsp;West Residences represents Willing's commitment to quality and design.

"We've paid special attention to every detail, ensuring each residence offers a unique living experience with all the modern conveniences. From the interiors to the views, West Residences is designed to provide an unparalleled living experience in Mount Lawley."

[smartcode_project:default project_id=138755 project_image_fid=280563]

Future residents of West Residences will benefit from the convenience of being just a short walk from Beaufort Street, a cycle ride to the river, or a short train ride to the city.

The apartments are designed in angular forms, resulting in a unique collection of residences. High 2.7m ceilings, thoughtful solar access and ventilation will create uplifting homes with a calming sense of space. Oversized private balconies extend the living areas outdoors, offering rare panoramic city, river and hill views.

Sam Klopper, Director of <a href="/architects/klopper-davis-architects">Klopper &amp; Davis Architects</a>, highlighted the distinctiveness of the project.

“Like New York’s Flatiron building, the site of West forms the junction between the orderly and the sublime," Klopper said.

"The avenues of Mount Lawley are crossed by West Parade, creating an opportunity to celebrate this contrast with a beautiful, angled form building.”

[smartcode_project:default project_id=138755 project_image_fid=280567]

West Residences adheres to 7-Star Nationwide House Energy Rating Scheme (NatHERS) performance criteria and will achieve carbon neutrality with standards that focus on the highest level of green rating. This includes a grid-connected solar PV system to deliver renewable power to all common amenities and EV charging.

West Residences is slated for completion in 2026.

[smartcode_project_cta:default project_id=138755]

Three generations of the Willing family have resided in Mount Lawley, a suburb which Tim says he has a "life-long love for."

Willing Property mark construction start of Mount Lawley apartment development, West Residences

Deicorp's Marquet &amp; Mary, the prolific developer's first apartment development in <a href="/developments/rhodes-nsw-2138">Rhodes</a>, has got off to a flying start.

They've just secured a record two-bedroom apartment sale for the suburb, with an 87 sqm apartment on the 30-th level of the 32-level tower selling for $1.72 million.

The price was driven both by the track record that Deicorp is bringing to Rhodes, and the sweeping views the apartment will offer.

[smartcode_project:default project_id=141515 project_image_fid=287870]

Interest in the project has been high since the unveiling of its display suite at suite 803/5 Rider Boulevard, Rhodes, less than 300 metres from the site of the development at 1-9 Marquet Street.

<a href="/new-apartments/marquet-mary-rhodes-1-9-marquet-street-rhodes-nsw-2138">Marquet &amp; Mary</a> offers a total of 212 apartments in a building designed by popular architect&nbsp;<a href="/architects/fk-australia">Fender Katsalidis</a>&nbsp;who were appointed after winning a design excellence competition last year.

[smartcode_project:default project_id=141515 project_image_fid=287857]

The tower's apartments range from one to three bedrooms, with views either towards the Sydney skyline to the east or the Blue Mountains to the west.&nbsp;

The apartments will sit above a four-level podium that will include commercial and retail space.&nbsp;Residents will also have access to a rooftop terrace and garden, as well as another courtyard garden.

[smartcode_project:default project_id=141515 project_image_fid=287863]

<a href="/developers/deicorp">Deicorp</a>&nbsp;has had overwhelming success at the first stage of its <a href="/news/nsw/melrose-central-apartments-fly-off-the-shelves-at-weekend-launch">other recently launched apartment development</a>, Melrose Central.

CBRE took 50 contracts over the first weekend of its launch.&nbsp;<a href="/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>&nbsp;will deliver a new community in the heart of the new Melrose Park Town Centre, on the edge of the Parramatta River. It will comprise around 500 apartments set above 30,000 sqm of retail and commercial space.

[smartcode_project_cta:default project_id=141515]

Marquet & Mary offers a total of 212 apartments in a building designed by popular architect Fender Katsalidis

Deicorp set new Rhodes apartment record with Marquet & Mary sale

The shortage of new apartments in Melbourne has been well-documented in the last 12 months.

It's proving more difficult than anywhere else in the country to develop new projects.&nbsp;

Charter Keck Cramer Associate Director, Ben Carter, says&nbsp;the least discussed issue is how the cost of development is shaping the unit mix of the apartment supply pipeline.

"Charter Keck Cramer has observed, and in certain cases advised for, a reduced proportion of one-bedroom accommodation within upcoming apartment developments in Melbourne," Carter says, adding that the&nbsp;central constraint is the price ceiling of one-bedroom apartments and the associated inability to offset higher project costs.

"In short, prices of one-bedroom apartments cannot be increased to the same degree as other configurations due to the generally limited financial capacity of the purchaser and the ultimate rental value if intended for an investment," Carter suggests.

However, Charter Keck Cramer is expecting Melbourne’s established unit market will continue to recalibrate upwards over the next 12 months. With the upward&nbsp;recalibration, that will see the price gap between new and established apartments narrow, they anticipate an "elastic response in demand" for off the plan one-bedroom apartments at higher price points.

"At present, the gap between the price of off the plan one-bedroom product close to a project’s required blended rate (around $14,000 per sqm) versus established one-bedroom (and in some cases two-bedroom) units is too large to attract widespread purchaser demand," Carter says.

"Until such a time that pricing in the established market increases, the feasible delivery of one-bedroom apartments at higher values will remain challenged for many BTS projects."

Carter says in the meantime,&nbsp;projects that are well positioned to deliver competitively priced and well-designed one-bedroom apartments are expected to be met with market acceptance from a variety of purchasers and face little competition from new supply.

There is likely to be an increase in demand for one-bedroom apartments in the medium to long term, given more than 30 per cent of lone-person households&nbsp;occupy one-bedroom apartments across Melbourne.

"Assuming this propensity remains equal (which is conservative), this would equate to a need for an additional 30,000 one-bedroom apartments across metro Melbourne by 2031. By the same logic, couples will drive demand for an additional 20K one-bedroom apartments."

Carter says many recent projects are targeting downsizer purchasers with premium quality two and three-bedroom apartments that carry lofty price tags which leaves younger purchasers out in the cold.

"For younger purchasers, one-bedroom apartments often represent an affordable housing option in a less affordable location. This allows them to transition from share houses or the family home and benefit from the security of home ownership while not sacrificing proximity to lifestyle and employment opportunities.

"Many of these persons are finding themselves priced out of new projects, leading them to become increasingly active in the established market or choosing to remain on the sidelines, thus contributing to latent demand."

Carter believes there are opportunities for Government to step in.

"Delivering one-bedroom apartments is important to achieve various Federal, State and Local Government housing goals. This includes meeting overall dwelling targets (particularly within inner city locations) and providing a diversity of housing, as well as affordable and key worker housing."

He said more flexible planning policy would allow for more supply, as would the reintroduction of off the plan duty concessions and exemptions for investors and a reduction of foreign buyer levies.

"Property tax reform is an essential step to boost housing supply across Melbourne.

"There has been a marked decline in Melbourne’s apartment launches and subsequent completions since the abolition of investor stamp duty concessions and exemptions for off-the-plan properties (2017) and the increases to foreign investor surcharge (2016 &amp; 2019).

"Recent rises in construction costs and interest rates have only compounded this slowdown. Despite political reservations about investors, it is crucial to acknowledge their role in supporting new housing supply for Victorians. This cohort will drive sales (and rental supply) of new one-bedroom apartments due to the attractive yields and price points."

Charter Keck Cramer is expecting Melbourne’s established unit market will continue to recalibrate upwards over the next 12 months, and the price gap between new and established apartments will narrow.



Opportunities for new one-bedroom apartments in Melbourne?

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]

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Joel Robinson

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