Sydney's affluent Lower North Shore is generally a region which is starved of apartment stock for the majority of the population.

Given the area's status as one of the priciest spots in Sydney, the majority of the apartments are half or full-floor, they sit close to the harbour, and they command prices often starting at around the $5 million mark.

It was this knowledge, pared with market feedback during the early stages of marketing of the new architecturally striking Willoughby development Willoughby Grounds, that developer First Quadrant Properties, who is working alongside funding partner&nbsp;<a href="/developers/qualitas">Qualitas</a>, went back to the Willoughby Council to create more four bedroom apartments.

[smartcode_project:default project_id=135512 project_image_fid=251218]

While already offering a handful, they sought to convert 20 apartments into 10, creating more large-scale, four-bedroom apartments that would give prospective buyers an opportunity to buy something that Willoughby hasn't seen before.

LINK Project Marketing Director Ben Hamblett made the recommendation to create larger apartments having fielded significant enquiry from those looking to buy two two-bedroom units.

Hamblett, who has sold a number of the four-bedroom apartments already, said they're a perfect market fit.

"Four-bedroom apartments don't exist in&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://c-jD404.na1.hs-sales-engage.com/Ctc/W2%2B23284/c-jD404/Jl22-6qcW7lCdLW6lZ3p-W4-pVY58fCxmFW3CvLxJ2bxwW9W2Hjm-j2mJhtsW7WLSfW991ZYZW6SPV5S8kg4KvW8HRg4H3DHX5TV45l0m5MsNP1W8lNk3-1knRSwW6H-_NV6BkslbW1hdgtl6mz3SnW3Tr1MH5BLfvNN7hLb4XpCcMwW5kp7_717N4xLW6d8DWm6MJgD5W1w06bX5CG8RSN4w4Ys_BzlJrW67dFpQ18Cf-7W25jF-s3DtNnvN17M1dSskjwZW6R-TQr8ttLnDMjV31Mgzk-rW2cL1951ZyRpBW7csltm7DmJFQW66rxK07wS40Kf3jrNkz04&amp;source=gmail&amp;ust=1711530027689000&amp;usg=AOvVaw25piQogND_39uC9ZjnACUn" href="https://c-jd404.na1.hs-sales-engage.com/Ctc/W2+23284/c-jD404/Jl22-6qcW7lCdLW6lZ3p-W4-pVY58fCxmFW3CvLxJ2bxwW9W2Hjm-j2mJhtsW7WLSfW991ZYZW6SPV5S8kg4KvW8HRg4H3DHX5TV45l0m5MsNP1W8lNk3-1knRSwW6H-_NV6BkslbW1hdgtl6mz3SnW3Tr1MH5BLfvNN7hLb4XpCcMwW5kp7_717N4xLW6d8DWm6MJgD5W1w06bX5CG8RSN4w4Ys_BzlJrW67dFpQ18Cf-7W25jF-s3DtNnvN17M1dSskjwZW6R-TQr8ttLnDMjV31Mgzk-rW2cL1951ZyRpBW7csltm7DmJFQW66rxK07wS40Kf3jrNkz04" target="_blank">Willoughby</a>, even in some of the other new developments. However there is a strong underlying demand for them," Hamblett says, adding that the only opportunity to buy four bedrooms is in the housing market, and that can cost upwards of $4 million.

"Even at that price, there are likely renovations and maintenance works that need to be considered, which some people can't afford. This four-bedroom product bridges that gap between getting something smaller and having to reach toward a house."

[smartcode_project:default project_id=135512 project_image_fid=251222]

Hamblett says there's a large cohort of buyers who aren't willing to downgrade either in terms of the size of the home or the location.

"With current interest rates and renovation costs, it is nearly impossible for many buyers to upgrade or purchase a quality family house in Willoughby. This recalibration of expectations is perfectly filled by the luxury house-sized apartments found at Willoughby Grounds. This is the way for the family buyers in Willoughby."

Indeed since the launch of the project, which will be delivered in five stages, reflective of the number of buildings there are in the mini-masterplan, over 20 per cent of the enquiry on Urban have been on the four-bedroom configurations, with a further 20 per cent on the large, 200 sqm three-bed apartments on offer.

[smartcode_project:default project_id=135512 project_image_fid=251213]

There will be around 160 apartments spread across the five buildings in Willoughby Grounds, with around 30 to 35 units in each building.

Mo Chehelnabi from Architecture Urbaneia has designed each building to pay homage to the&nbsp;unique industries that used to exist in the&nbsp;<a href="/developments/willoughby-nsw-2068">Willoughby</a>&nbsp;area; tanneries, pottery, blacksmiths, logging and brickworks.&nbsp;

The design brief was to allow the multi-layered architecture and flourishing natural landscape to work in unison to create a sense of serenity and connection to place.

[smartcode_project_cta:default project_id=135512]

LINK Project Marketing Director Ben Hamblett says there's a large cohort of buyers who aren't willing to downgrade either in terms of the size of the home or the location.

Joel Robinson

Buyers look for size on Sydney's Lower North Shore as large apartments snapped up at Willoughby Grounds

The Maroochydore CBD is set for a new apartment development that has been inspired by the ocean and will serve as a "metaphorical umbrella".

The 12-level building at&nbsp;<a href="/new-apartments/el-parasol-15-17-ocean-street-maroochydore">15-17 Ocean Street</a>, Maroochydore, is being planned by building firm <a href="/builders/rocking-horse-constructions">Rocking Horse Constructions</a>, who had Ferro Chow Architecture create the unique design for the project which they are calling&nbsp;El Parasol.

El Parasol will bring 53 apartments to the heart of the Maroochydore CBD, in a pocket that hasn't had much supply in recent years.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ff08f8d7-84d6-4a0b-b3c1-9ecb10eeb505" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-25%20at%204.49.55%20pm.png?VersionId=SlXVWpQk_ClwDMZkwsGJq4gJnW.ri_62" />

There will be 16 two-bedroom apartments and 32 three-bed units, half of which will have their own study. Four four-bedroom apartments occupy the penthouse level on level 12.

There are communal facilities on level three in the form of a swimming pool and spa with cabanas, a gym, and a kitchen and dining area.

The ground level will have a hospitality venue, while level two and the other half of level three will home four two-level office spaces.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="3c706474-84e2-4dce-8761-646da091d213" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-25%20at%204.52.39%20pm.png?VersionId=DUTd7IIHWK7oNzTieRdLd_FU1wu7NB0x" />

There will be 128 parking spaces, 82 for the apartments, 14 for visitors, 15 for the retail space, and 17 for the offices.

Ferro Chow wrote in their documentation submitted to the Sunshine Coast Council that their architectural vision is to seamlessly weave multiple dwellings, a vibrant food and drink outlet, and flexible office spaces into a harmonious, multi-residential community.

"Our vision is to create a thriving, interconnected community that embodies the spirit of Maroochydore while embracing the beauty of the ocean’s forms and the patterns of life in a vibrant, evolving city,"&nbsp;the report read.

“El Parasol, an embodiment of an ‘umbrella: providing shelter from the sun,’ symbolizes our inspiration. Drawing from the dynamic lifestyle and mixing multiple uses, our project is poised to transform Maroochydore’s celebrated landscape."

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="2f72c15f-510c-42be-9ecb-c15bc2692b19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-25%20at%204.52.02%20pm.png?VersionId=5W9KOLWhLC3hEVfc9v7nDcMLTEwoRaSr" />

Ferro Chow, led by Jared Chow, said the building&nbsp;integrates seamlessly into a vibrant entertainment precinct surrounded by various retail and commercial establishments.

"The street-level experience is thoughtfully curated, boasting an activated and landscaped podium with abundant greenery for screening, fostering a strong connection between common areas and the lively street."

They said El Parasol employs&nbsp;earthy, pared-back materials, sculpting a form that is both sculptural and sensitive to its coastal landscape.

"The use of off-form concrete, timber, and rammed earth contributes to a natural, organic aesthetic, further enhanced by hanging planters and perimeter planting, reducing the building’s mass."

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="def2fd20-d242-4e9f-a1b6-f98bf3f05e84" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-25%20at%204.54.00%20pm.png?VersionId=BtPqERtx1xfxT5DbkvHoT7CuEoYdHPxS" />

&nbsp;

The project, on a 2,190 sqm site which is currently a retail strip, will sit directly opposite&nbsp;Big Top Shopping Centre.

The new plans are a scaled-down version of the plans approved back in 2020. That had 66 apartments and 44 short-term accommodation units across a larger 4,200 sqm site.

Rocking Horse Constructions is led by building veteran Alex Schiavo and is currently building Sorano House, the luxury Kangaroo Point apartment development.&nbsp;

&nbsp;

El Parasol will bring 53 apartments to the heart of the Maroochydore CBD, in a pocket that hasn't had much supply in recent years

"El Parasol": First look at new apartments planned for Maroochydore's centre

One Darling Point, the much talked about project on the corner of New South Head Road and Darling Point Road, is set for a new owner.

International development company Anka Property, directed by Andrew and Vera Boyarsky, have long been in discussion with the Woollahra Council for the 1,748 sqm site at 136-148 New South Head Road, opposite the Edgecliff Centre and Edgecliff Station.

Despite initially being refused by the council back in 2021, they backflipped on the design earlier this year, paving the way for the tower which is nearly four times the area height limited.

<img alt="NSW" data-entity-type="file" data-entity-uuid="9b5105e3-6b5c-4403-9e59-1660542fc593" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-25%20at%201.45.39%20pm.png?VersionId=aZErgrJecn5kZrMVudRd14xCggm2yH2h" />

The 12-level building is expected to home around 40 apartments, the majority two and three-beds.

Group CSA said in the initial Urban Design Report that the&nbsp;site’s access to the Edgecliff public transport interchange and proximity to the Sydney CBD makes it a good location for promoting transit-oriented development (TOD), supported by well-designed public spaces and a vibrant local economy.

"The site location responds to 30-minute city established by the Greater Sydney Commission and can leverage nearby natural environments and proximity to infrastructure as potential opportunities in the design response," the report read.

"The vision of the metropolis of three cities seeks to further increase Edgecliff’s role as a key transport interchange. This direction is therefore likely to impact on Edgecliff’s strategic position in the future."<img alt="One Darling Point For Sale - Views" data-entity-type="file" data-entity-uuid="65ce4b4c-9a2c-4661-93fc-ce3fc3b94522" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/One%20Darling%20Point%20Views.jpg?VersionId=71LksFA3HBxpdQdvyATFwWgdpQhed49m" />

Colliers and CBRE are both marketing the site.

Anka was founded by Andrew's father Alex in 1968 Their Sydney projects have included 2 Bay and 30 Bay in Double Bay and The Hensley in Potts Point.

The 12-level building is expected to home around 40 apartments, the majority two and three-beds

Developers to circle prime Darling Point apartment development site

Leading Australian integrated property development group, <a href="/developers/aqualand-australia">Aqualand</a>, is reaping the rewards of the strong demand for luxury apartments in <a href="/new-apartments/sydney-nsw">Sydney</a>, achieving $100 million in sales for its AURA by Aqualand project in February 2024 alone.

The sales success has broken the North Shore record for the highest sales volume and revenue achieved in one month (not including the month a project launches). It's some 263 per cent higher than AURA's last biggest non-launch sales month, in April 2023 when they sold $40 million of apartments.

With the record-breaking performance of the <a href="/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">$1 billion luxury mixed-use tower</a> continuing in earnest, remarkably, March’s figures are currently on track to surpass February’s record. Month-on-month increases are expected until April, then steady until the project’s construction completion in June, when a substantial spike in sales is again expected.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=249157]

The record month further signifies strong buyer demand for the luxury project, which was initially demonstrated when over $100 million was transacted on its market launch day on 4 December 2021.

Aqualand’s Head of Sales and Marketing, Alex Adams, said the figure represented the biggest jump in sales activity on any project he’d experienced.

“Considering we hadn’t just launched the project or even released a new stage, this is by far the most impressive month I’ve seen in my career to date, and as far as we know it also exceeds every other project currently in market in Sydney, in terms of February’s sales volume,” he said.

&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=202656]

Adams believes February’s sales success can be attributed to a range of internal and external market factors.

“We’ve found potential buyers who had previously enquired, but weren’t quite ready to commit, have recently returned to the market. Those waiting to transact closer to the building’s completion have now seen its construction progress and have made the decision to buy,” Adams said.

“We also recently completed a number of stunning display apartments on levels six and ten of the building, which clearly showcase the outstanding build quality and high level of finishes.&nbsp;

“Our new year strategy to open the display apartments has definitely increased conversion.&nbsp;

“We’d always anticipated a spike in February and it’s pleasing that we outperformed our forecast. It’s even more pleasing that March is on track to outperform February."

&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=202991]

Aqualand has recently changed the buyer journey, moving&nbsp;AURA’s display showroom on-site which Adams says enables buyers to experience the actual building firsthand.

"Being in the completed building structure, in a brand-new showroom fit out, as opposed to overlooking it from across the street in our previous showroom, really builds confidence in the client’s mind," Adams said.

“We understand that luxury buyers, whilst they appreciate the off-the-plan offering, are less likely to transact until they can experience the quality, materials and our fanatical attention to detail firsthand. With this in mind, we’ve been encouraging as many prospective purchasers to visit the display apartments as quickly as possible, which also contributed to the jump in sales in February. This came down to properly maintaining historical enquiries over a length of time, on top of managing the newer ones."

Adams says external market factors, including the recent stability in interest rates and more talk about a cut rather than a hike, as well as a lack of competition and the continued growth in North Sydney.

“The ongoing transformation of <a href="/developments/north-sydney-nsw">North Sydney</a> is also becoming more obvious of late, with the new Victoria Cross Station so close to officially opening, and newer restaurant and retail offerings in the area. It’s clear to all that North Sydney’s evolution is on track, placing AURA in the right place at the right time,” Adam said.

&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=202995]

Families continue to be the lead clientele, while the stabilising interest rates, and the ability to now see the product at the new display apartments, is also attracting more investors, who are showing more interest in their searches.

“At AURA’s launch, the majority of clients were downsizers, but then families took over the buyer demographic. We’re seeing plenty of families choosing to make the decision to upscale, or as we call it, ‘right size’, into our generous three or four-bedroom apartments."

Recently, downsizers have come back, with more four-bedroom sales at around $7 million.

“With the housing market stabilising, and even increasing, they now have confidence selling their home. Also, with the interest rates steadying they can list their homes until they get the price they want. &nbsp;

“The timing couldn’t be better as this year is Aqualand’s 10th anniversary, and AURA was designed to showcase a defining project for Aqualand within our beautiful city. It’s the perfect project to celebrate the calibre of products we’ve brought to market over the last 10 years, so it’s exciting we’ll complete AURA during our 10th birthday.&nbsp;

“Having a decade in the market also instils confidence in our clients who are also encouraged to view the other high-end projects we’ve delivered. When they visit BLUE at Lavender Bay or <a href="/buildings/the-revy-pyrmont-8-darling-island-road-pyrmont">The REVY</a> in <a href="/new-apartments/pyrmont-nsw-2009">Pyrmont</a>, they can see the design and construction quality we’re now known for."

[smartcode_project_cta:default project_id=30959]

AURA by Aqualand achieves $100M in sales in February breaking second North Shore record for Aqualand 

AURA by Aqualand secures record $100 million in sales in February

A major discussion being had across Australia's largest capitals is the conversion of office buildings to residential apartments.

The majority of those conversations are about how to redevelop currently established office buildings into apartments to cure the supply shortage in Australia. Not many are being altered at the development application stage.

Busy diversified developer <a href="/developers/aph-holding">APH Holding</a>, who has residential projects in <a href="/developments/box-hill-vic-3128">Box Hill</a>, <a href="/developments/deepdene-vic-3103">Deepdene</a> and <a href="/developments/hawthorn-vic-3122">Hawthorn</a>, as well as several hospitality and retail developments, is seeking to change up their approved&nbsp;<a href="/developments/south-melbourne-vic-3205">South Melbourne</a> mixed-use development at 61-65 Palmerston Crescent which was approved for over 2,000 sqm of office space, 200 sqm of retail, and a 250 sqm communal rooftop terrace.

Having secured the prized 620 sqm site in late 2022, one of the last undeveloped sites on Palmerston Crecent, APH is seeking to now develop a luxury apartment building with just 13 residences.

<img alt="65 Palmerston Launch - Balcony" data-entity-type="file" data-entity-uuid="07d8028e-0f81-466f-9216-95f50a4b6342" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/65%20Palmerston%20Balcony.jpg?VersionId=5gbJ9SCy_HB1yE_eq1ZeXFdCK.x9TDXx" />

Located just off Albert Park and next door to Fortis's recently completed office development, the building, dubbed&nbsp;<a href="/new-apartments/65-palmerston-61-65-palmerston-crescent-south-melbourne">65 Palmerston</a>, will have just half and full-floor units.

The lobby transitions residents from the busy street to their private homes. With large glass walls that emphasise space and offer views of the surroundings, the lobby also doubles as an art gallery showcasing local contemporary art.

<img alt="65 Palmerston Launch - Lobby" data-entity-type="file" data-entity-uuid="aafb3edf-7bcf-4b9a-a495-01f8b7920e5b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/65%20Palmerston%20Lobby.jpg?VersionId=LaNdrs8UXmqIFtK.UeCV4N2X7ojiFY9b" />

A temperature-controlled wine cellar with backlit walls of wine greets residents upon entry leading to a generous living area that opens onto north-facing balconies with panoramic city skyline views.&nbsp;

The kitchens are designed for entertaining, equipped with a range of high-end appliances discreetly integrated behind custom joinery and connected to a butler's pantry.&nbsp;

<img alt="65 Palmerston Launch - Kitchen" data-entity-type="file" data-entity-uuid="ad2850e4-c103-4040-8e0e-06a5249319ce" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/65%20Palmerston%20Kitchen.jpg?VersionId=WWWVtVoADQBgOMJCa33lr8tkuZceExrA" />

The master suite has its own external entry and features a double-size dressing room and an ensuite.

The project stands out not only for its premium design and amenities but also for its strategic location, providing residents with unparalleled access to parks, gardens, and Melbourne's world-class cultural and sports precincts.

The development's prime location in South Melbourne, bordering the Domain Precinct, ensures residents can enjoy the proximity to iconic landmarks such as the Royal Botanic Gardens, Melbourne’s Arts &amp; Cultural Precinct, and Albert Park Lake.

Construction of 65 Palmerston is expected to start soon.

[smartcode_project_cta:default project_id=2531]

Having secured the prized 620 sqm site in late 2022, one of the last undeveloped sites on Palmerston Crecent, APH is seeking to now develop a luxury apartment building with just 13 residences

Launch Alert: Office to apartment trend sees new supply come to South Melbourne

Lifestyle developer <a href="/developers/gurner">GURNER™</a> has submitted plans for the first stage of its <a href="/developments/docklands-vic-3008">Docklands</a> mega-project, Elysium Fields.

Gurner says Elysium Fields has been created around the concept of a futuristic wellness and anti-ageing utopia,&nbsp; where purchasers will have access to some of the world’s most advanced anti-ageing, holistic health and nature-based wellness principles within a city forest and landscape oasis.&nbsp;

They say the focus has been to create a&nbsp;self-contained biosphere-like design – the likes of which has previously only been seen in sci-fi movies – that will instil a sense of true tranquillity, making residents feel like they could by anywhere in the world as they enter the pristine, futuristic and inspiring oasis in the heart of Docklands.&nbsp;

The concept brings together Tim Gurner’s personal wellness journey and the latest in science-backed health and wellness, to deliver a regenerative anti-ageing and wellness experience that has been based on American Neuroscientist Andrew Huberman’s five pillars of health being: sleep, sunlight, &nbsp;movement, nutrition, and social connection.&nbsp;

<img alt="Elysium Fields - Harbour Esplanade" data-entity-type="file" data-entity-uuid="aa167a84-0b9c-430b-b721-dc462c0d1644" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02%20-%20Harbour%20Esplanade_DJI_0653_Opt001_0.jpg?VersionId=P0yI9L1CD7Td1Vnwvixyt9KsMm.jnPZ." />

At Elysium Fields, residents will have access to advanced anti-ageing protocols and equipment like cryotherapy, IV infusions, dry and infrared sauna, red light therapy, grounding and PEMF beds, alongside access to visit the Elysian Reverse Ageing Medical Clinic that will provide medical-grade treatments including MRIs, DEXA scans, brain scans, blood testing and personalised health plans.&nbsp;

Residents will also gain access to a new venue of Gurner Group’s sold-out Saint Haven club which will be the largest in the Group’s portfolio at around 5,000 sqm, and an indulgent Haven Ancient Baths concept, also by Gurner Group, that will offer 15 different types of enriched water for optimum health. &nbsp;

The ancient bathhouse, to be known as Haven Ancient Baths, will be one of the world’s largest bathhouses, bringing together the latest technology while celebrating the history and science behind bathing from centuries-old traditions. &nbsp;

<img alt="Elysium Fields - Wurundjeri Way" data-entity-type="file" data-entity-uuid="5446502c-7001-4111-9523-c6425a07b08f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E03%20-%20Wurundjeri%20Way_DJI_0490_Opt001.jpg?VersionId=w9MOEOtEJkNMcGMOkOCPlPJ5QpFWXFR_" />

Designed by <a href="/architects/fraser-partners">Fraser &amp; Partners</a>, GURNER™’s vision also includes over 3,700 sqm of much-needed immersive public landscapes and gardens that will connect residents with the natural world, inspired by the verdant buildings of Singapore that meld the built form with abundant greenery. &nbsp;

The&nbsp;27,000 sqm site precinct will include a landscaped pedestrian-focused ‘path of life’ that runs the entirety of the north-south ground floor/podium plane that will be designed for running track, Yoga, meditation, &nbsp;training, exercise and recovery, alongside a rooftop sports court, a private wellness club, a pool club and 5,000 sqm of retail, dining and public realm amenity.&nbsp;

The precinct will also feature its very own botanical gardens, be geared for a 24/7, interactive retail, &nbsp;dining and entertainment experience, and include a stunning, futuristic glass dome over the site, &nbsp;modelled on the concept of Elysium being the utopian afterlife. &nbsp;

The parks will be a key part of the offering and are centred around the ancient Japanese principle of &nbsp;Forrest bathing. This will provide residents with an opportunity to spend time among trees and greenery, &nbsp;akin to unwinding and relaxing in a forest, while still being in the heart of the city.&nbsp;

The journey to optimal health will continue inside each residence, with the homes designed to include filtered air purifiers, filtered water, access to northern sunlight, circadian lighting and optional recovery upgrades.&nbsp;

<img alt="Elysium Fields - Path of Life" data-entity-type="file" data-entity-uuid="d7334d2f-a4dc-4f7a-b497-16b99847b468" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EA01%20-%20Path%20of%20Life.jpg?VersionId=kJP3fMcTiwwF1YAxynCO9iCfqVHU1NcM" />

A joint venture between GURNER™ and City Harbour – a consortium that includes the Liberman family, which holds the development rights to the project – the Docklands precinct is located in a key strategic pocket that connects the southern end of the CBD with the Docklands harbour waterfront and the gateway to the western suburbs. &nbsp;

The 27,000 sqm island infill site is located at 208-226 Harbour Esplanade, which once complete will encompass circa 1700 dwellings with an end value of $1.7 billion. &nbsp;

The development will include over 1,350 BTR and BTS apartments, a retail and hospitality precinct, a 4-star short-stay hotel of circa 100 keys and another premier 5-star hotel in the main tower of over 250 keys, with state-of-the-art conference facilities, a business club and hospitality offerings.&nbsp;

The first stage includes three towers totalling 640 dwellings, of which GURNER™ plans to launch the first tower, a build-to-sell offering with 231 apartments, in Q3 this year. Construction of the tower is planned for the same time.

While plans have previously been approved for the site, GURNER™ is submitting a revised scheme that aims to unlock more activation across a public realm and focus on pedestrian circulation, public amenity and increased connectivity to nature. &nbsp;

Planning approval for the precinct vests with the Minister for Planning, after which GURNER™ is aiming to launch the first tower to the market later this year. &nbsp;

Tim Gurner said when you enter Elysium Fields you will be stepping into another world – one that is serene, clean, &nbsp;vibrant and grounding.

"When you’re amongst the project’s forest and landscape you’ll feel like you could be anywhere in the world, while being right on the doorstep of the CBD," Gurner said.

"Through Gurner Group’s focus on progressive wellness and holistic health, and the overwhelmingly positive feedback from our members and customers, I am increasingly driven to create an ultimate wellness experience for the communities in which our buildings sit, that brings together cutting edge wellness and health amenities with a connection to nature, which we now know unequivocally improves sleep, our mental state of being and unlocks myriad health benefits."

Tim Gurner said when you enter Elysium Fields you will be stepping into another world – one that is serene, clean,  vibrant and grounding

GURNER submits plans for first stage of $1.7 billion Docklands precinct, Elysium Fields

Sydney developer and investment firm Inca Property Group has revealed its newest apartment development.

They'll be developing in <a href="/new-apartments/st-ives-nsw-2075">St Ives</a> where they've submitted plans for a five-level building on a 1,927 sqm, two-site amalgamation at 6-8 Newhaven Place, near St Ives Shopping Village.

The project, dubbed <a href="/new-apartments/ellis-residences-st-ives-6-8-newhaven-place-st-ives-nsw-2075">Haven Place</a>, will comprise 18 three-bedroom apartments which will fill a gap in the undersupplied downsizer market in the&nbsp;Ku-ring-gai&nbsp;area.

Tony Leung's A+ Design Group created the project, saying in their Design Verification submitted to the local council that the&nbsp;proposed development responds to the context of the site by providing built forms that sit in a landscaped setting, providing a positive contribution to the public domain.

"The proposed development achieves an appropriate built form in terms of building alignment, proportion and manipulation of building elements.

"The approach to the design proposal is to create simple, yet elegant built forms that sit harmoniously within the existing contextual environment. The balconies have been designed to be an extension of the living spaces so that outdoor living can be maximised."

The apartments start from 60 sqm and range in size to 157 sqm internally. Every apartment has a terrace or balcony, ranging from 13 sqm to 89 sqm. There will be a maximum of four apartments per floor, just two on the top level.

36 resident parking spaces across the three basement levels, two for each apartment, as well as five visitor spaces.

Inca's website suggested the "strategic move underscores Inca Group’s commitment to crafting exceptional homes in prime locations, emphasizing a blend of tranquillity and convenience for discerning residents in the prestigious North Shore area."&nbsp;

They're forecasting a mid-2026 completion.

<a href="/developers/inca-property-group">Inca</a>, founded by Joshua Thompson, have developed across both Sydney and <a href="/developments/byron-bay-nsw-2481">Byron Bay</a>. They created Byron's popular Depot Byron, 26 industrial warehouse spaces on Centennial Circuit near the Stone &amp; Wood Brewery. They've also completed apartment projects in Caringbah and Lane Cove.

Inca is also working on the <a href="/news/nsw/tara-on-park-launches-to-undersupplied-waitara-apartment-market">recently launched Tara on Park</a> in Waitara.

Inca, founded by Joshua Thompson, have developed across both Sydney and Byron Bay

First look: INCA Property lodge plans for Haven Place, St Ives apartments

James Packer is one of Australia's most well-known billionaires.

The former Crown Resorts chair spends most of his time nowadays overseas sailing around the world on his $200 million super yacht IJE. When in Australia he calls home his $72 million, two-level spread toward the top of Crown's Barangaroo tower.

Packer's interests however seem to have broadened recently and into more modest property development compared to those vested interests in the $2.2 billion Barangaroo tower.

Packer's name has popped up on company directorships that tie him to a new $32 million apartment development in Melbourne's leafy suburb of Balwyn, a suburb where new apartment developments are a dime a dozen.

A tangled web of investors shows Packer's Consolidated Press International Holdings Limited investment vehicle as the ultimate holding company for Sharland Holdings, which shows an interest in the entity NPG MALEELA PTY LTD, the name on the development application.

The project, <a href="/new-apartments/maleela-rise-balwyn-23-maleela-street-balwyn">Maleela Rise</a>, is expected to be developed by Chapter Group, with the Lefkos family name in the directorships of the main company.

Parts of the web involve businessman Joe Gersh AM, Executive Chairman of Gersh Investment Partners, and his Director and Chief Operations Officer Theo Axarlis. Crown's former executive vice-president for strategy and development, Todd Nisbet, also appears on the paper trail.

NPG MALEELA PTY LTD company filed the plans for&nbsp;31 apartments on the 3,862 sqm site at 23 Maleela Avenue, just set back from Whitehorse Road between Balwyn and Deepdene.

Cera Stribley has put together plans, recently submitted to the Boroondara Council, for the low-rise, three-level building which will have a near 60-metre frontage to Maleela Avenue.

<img alt="Cera Stribley" data-entity-type="file" data-entity-uuid="c89ef964-fe12-42b2-ba57-464660bba9ee" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-19%20at%2012.14.41%20pm.png?VersionId=S.T.24jJzFl0xENA1PlKNd1P4d_NFqkE" /> 
The plans for 23 Maleela Avenue. Image credit Cera Stribley

There will be 31 apartments across the four levels, 10 two-beds and 21 three-beds, of which 18 have completely different floorplans.

The two-bed apartments start from 114 sqm and range in size up to 140 sqm, while the smallest three-bedroom apartments have 150 sqm of internal space. They step up toward the three penthouses which have been 310 sqm and 361 sqm of space, each with three master suite bedrooms and two living rooms.

The documents submitted by Cera Stribley stated they wanted to capture elements of Balwyn and distil them into the project to create a unique yet familiar design starting point.

<img alt="Balwyn" data-entity-type="file" data-entity-uuid="de400ed2-beee-4faf-a446-4b43931901d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-19%20at%2012.39.34%20pm.png?VersionId=fhJCP6B7QEp34s5ZcdZCXY5vpPFG2Bls" /> 
The current site in Balwyn

"There is high demand from home buyers for a diverse range of housing in the established premium suburbs such as Balwyn," Cera Stribley said.

"In order to satisfy this need for housing diversity and allow for more families to have access to such a coveted location, there are numerous developments built and emerging in the wider context of Balwyn.

They said a study of the housing character within Maleela Avenue showcased an eclectic catalogue of Australian homes in styles not limited to Georgian Revival, Moderne and Tudor Revival.

"The proposed articulation of the building form is in response to the surrounding architectural heritage homes found in the Street and wider suburb. The north and south of the building along Maleela respond directly to the adjacent residential architecture. At the south, the building sits atop the highest point and grounds the proposal into the site. A break is introduced into the facade at the main pedestrian entry and the building form then changes to introduce long horizontal planes which flow down towards the northern end of the site."

The building will sit in landscaping by Jack Merlo.

Chapter Group were in the headlines recently for setting the Fitzroy apartment record with the sale of an amalgamated penthouse at their Fitzroy Fitzroy development for over $10 million.

Read more:&nbsp;<a href="/news/vic/confidence-in-melbournes-off-the-plan-apartment-market-soars-with-record-10-million-fitzroy-sale">Confidence in Melbourne's off the plan apartment market soars with record $10 million Fitzroy sale</a>

[smartcode_project_cta:default project_id=144443]

First look exclusive: Billionaire James Packer's Melbourne apartment play, Maleela Rise, revealed

National developer Sekisui House has spent just over $110 million on a prime development site in St Leonards for its next apartment development.

<a href="/developers/sekisui-house-australia">Sekisui</a>, currently developing the $1 billion Norwest masterplan as well as the $1.2 billion West Village community in Berisbane's West End, bought the 8,758 sqm freehold site across&nbsp;22-34 Berry Road, 42-46 River Road, and 21-31 Holdsworth Avenue.

[smartcode_project:default project_id=134191 project_image_fid=230]

The sale came with approved plans for 230 apartments across five four to eight-level buildings, as well as a central north-south 'green spine' which will feature a swimming pool area. Some 28 per cent of the site, 2,411 sqm, will be dedicated to communal open space.

The majority of apartments in the project, <a href="/new-apartments/holdsworth-avenue-st-leonards">Waterstone</a>, will be two-bedders, around 50 per cent. There will be roughly 46 three-bedroom apartments and 74 one-bedrooms, catering to a wide range of buyers.

<a href="/project-marketer/colliers">Colliers</a> Asia Markets team secured the <a href="/new-apartments/st-leonards-nsw-2065">St Leonards</a>&nbsp;sale through an off-market campaign process with a short four-week settlement.

"This has been a strong result despite current market conditions as active developers continue to seek DA approved development opportunities in a prime location," the Colliers team advised.

[smartcode_project:default project_id=134191 project_image_fid=234]

They said the&nbsp;strategic location of the sites within the St Leonards South precinct adds to their appeal, as they are among the few remaining parcels of land with such immense development potential.

The $110.5 million sale equates to approximately $480,000 per unit site and $4,853 per sqm on GFA.&nbsp;

The vision of the St Leonards South Precinct, described within Lane Cove Development Control Plan 2009, is for a "liveable, walkable, connected, safe, precinct which builds upon the transit and land use opportunities of St Leonards and Metro Stations and commercial centre."

<img alt="St Leonards South" data-entity-type="file" data-entity-uuid="882155e8-b587-4a66-93be-dd12d9f179bd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-03-19%20at%209.32.40%20am.png?VersionId=MalpWFM81TcsJj.XwWhscj4zGoL3xdgR" /> 
A concept image of St Leonards South. Image credit: North Sydney Council

Within the St Leonards South precinct is Top Spring's multi-stage development&nbsp;<a href="/new-apartments/the-newlands-st-leonards-21-41-canberra-avenue-st-leonards">The Newlands</a>, as well as Hyecorp's under construction <a href="/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards">The Audrey</a>.

Meanwhile, Sekisui recently&nbsp;unveiled the final release of apartments in the penultimate stage of their multi-award-winning <a href="/new-apartments/west-end-qld-4101">West End</a> master plan.

They've just taken to market the Opulent release, a collection of four and five-bedroom luxury apartments in the <a href="/new-apartments/the-allere-collection-west-village-mollison-street-west-end">Allere Collection</a>, which comprises two towers, Uno and Duo.

Uno and Duo, which are 95 per cent sold, will be the second to last buildings in the 2.6-hectare West Village precinct which Sekisui started developing in 2016.

Colliers Asia Markets team secured the St Leonards sale through an off-market campaign process with a short four-week settlement

Sekisui buys St Leonards development site for Waterstone apartments

Brisbane's off the plan apartment market is expected to be "chronically undersupplied for the next two to three years," a new report by property consultancy firm Charter Keck Cramer has suggested.

Charter Keck Cramer's Metro Brisbane&nbsp;State of the Market H2 2023&nbsp;found there were just 1,100 apartments launched in 2023,&nbsp;&nbsp;-76 per cent less than the decade average, while low completions are forecast for the next three years.

They did note that recently launched projects are achieving strong sales results.

"These are priced predominantly at the upper end of the market and targeted towards those who can accept the higher price points required to offset increased build costs," the report noted.

"Other local buyer segments remain priced out of the market or are disincentivised to buy given the uncertainty with interest rates and the significant upfront financial handbrake of stamp duty.

CKC said that whilst new apartment prices are still increasing and are being met with market acceptance in the higher-end and downsizer projects, this has not yet occurred in the mainstream segment of the market.

<h2>Repricing of off-the-plan apartments</h2>

Charter Keck Cramer said their analysis of Brisbane’s housing market shows that the price gap between detached houses and established units is 56% (the pre-pandemic average was 33%).

"Importantly, our detailed analysis of the established unit market (i.e. townhouses and apartments) shows established units are currently undervalued by +5% to +15% and given the supply/demand imbalance will continue to correct upwards over 2024 as the market finds a new equilibrium.

"Furthermore, the percentage of household income required to service a mortgage on a median-priced house has risen to 36% which is +10% to +15% above levels observed prior to COVID.

"When this is considered in light of the deposit hurdle and diminished purchasing capacity of buyers, many will simply need to make trade-offs should they wish to enter the for sale market with greater demand to be driven into the build to sell apartment market."

When the house price hierarchy is once again established, meaning when the established unit market gets closer to the cost of houses, then new off the plan apartments will be able to be delivered at price points which again make apartment development feasible.

"The timing for when this occurs comes down to when rates start to be cut and when government incentives are introduced, however the industry needs to prepare for dramatic price increases in new off the plan apartments of +25% to +30% (compared to prepandemic prices) over the next 12-18 months across many markets."

The median house price in Brisbane at December 2023 was $876,000, whilst the median unit price was $561,000.&nbsp;

<h2>Brisbane supply metrics</h2>

CKC said that while&nbsp;Brisbane’s City Fringe Region has historically been the city’s most active apartment region due to supportive planning controls as well as the proximity to, and views of, the Brisbane River and CBD, as the apartment market continues to mature, the Inner and Middle Regions will demonstrate a growing importance to Brisbane’s apartment supply.

Just 1,100 apartments were launched in 2023, the lowest&nbsp;volume of launches recorded in more than a decade and a -57% reduction on the previous 12 months. The most active region over the past decade has been the City Fringe Region, however Brisbane’s Inner Region has grown in importance over recent years and was the most active region in 2023, accounting for almost 50% of launches.

<img alt="Brisbane CKC" data-entity-type="file" data-entity-uuid="b5e608d4-4e12-422b-8225-643cd4664ed0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-03-15%20at%2012.17.04%20pm.png?VersionId=eoD1hM5qous_c6_AtfNq22Nm5W1.UDMa" />

Only 1,600 apartments started construction in 2023 the lowest number of commencements recorded over the past decade and a decrease of -88% from the peak of 13,300 apartment commencements in 2015.

Brisbane recorded 2,200 apartment completions in 2023. This was an uptick of +70% on the 12 months prior but remains significantly below longer-term trends.

CKC said that completions are forecast to increase again over the next 12 months with 3,100 currently under construction and due to be completed in 2024, but due to the low level of launches and commencements recently, apartment completions are forecast to contract once again to just 1,200 in 2025.

"Charter Keck Cramer expects Brisbane’s apartment market to remain chronically undersupplied for at least the next 2-3 years given current market conditions and the time taken to mobilise and build out high-density projects."

<img alt="Brisbane CKC" data-entity-type="file" data-entity-uuid="5deb2774-0030-42c5-ae2a-744442c91287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-03-15%20at%2012.17.38%20pm.png?VersionId=mz.FIFQ4SeM48vXaNu_PN7mCm73mNo.N" />

<h2>Outlook over 2024</h2>

Charter Keck Cramer says conditions in early 2024 will be very similar to those of late 2023, and that it will take a lot more than interest rate cuts to stimulate the build-to-sell and build-to-rent apartments both initially back to life, but also to facilitate them to deliver the unprecedented quantum of apartments required to allow the Federal and State Governments to achieve the aspirational housing targets.

"After considering all the data, our view is that the market will start to turn towards the middle of 2024. Interest rates need to be cut by at least the middle of the year and several incentives need to be introduced immediately to stimulate the BTS and BTR apartment markets.

"These are the swing variables as to how quickly the BTS and BTR apartment markets start to turn and how quickly the housing and rental crisis is addressed."

Charter Keck Cramer expects Brisbane’s apartment market to remain chronically undersupplied for at least the next 2-3 years given current market conditions and the time taken to mobilise and build out high-density projects.

Brisbane market to be"chronically undersupplied: for next two to three years: Charter Keck Cramer

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>.

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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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Joel Robinson

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