Joel Robinson

The top 16 Sydney off the plan apartment developers to look out for in 2024

Queensland-based property developer Pradella has secured its next Brisbane apartment development site.

They've paid $6.1 million for a&nbsp;1,083 sqm site in Toowong, opposite Toowong Memorial Park.&nbsp;

The corner site at <a href="/new-apartments/70-sylvan-road-toowong">70 Sylvan Road</a> is zoned for&nbsp;medium-density residential and has development potential for an eight-storey residential development.

The property is currently fully occupied by a mix of residential and office tenants on short-term leases.

There had been strong developer interest in the suburb, CBRE's&nbsp;Adelaide O’Brien and Will Carman said.

"The location has been a great success story for local and interstate developers who recognise its attraction to both the owner occupier and investor market,” O’Brien said.

“The property has the ability to generate a robust fully leased net annual income providing Pradella with secure earnings to strategise for future development.”

Toowong is located between Mount Coot-tha and the north bank of the Brisbane River and is surrounded by successful Brisbane developments by companies such as <a href="/developers/mosaic-property-group">Mosaic</a>, BPM and <a href="/developers/consolidated-properties">Consolidated Properties</a>.

There had been strong developer interest in the suburb, CBRE's Adelaide O’Brien and Will Carman said

Pradella secure their next Brisbane apartment development

Sunshine Coast developer Habitat's recently launched apartment development, St Clair in Birtinya, is attracting both local and interstate investor interest due to&nbsp;the robust infrastructure pipeline in the area and anticipated population boom in population in the Sunshine Coast region.

Birtinya, which neighbours Bokarina and Wurtulla, will become a main attraction for the Sunshine Coast and have significant transport links as part of the government's $10 billion infrastructure pipeline.

The government's light rail project, connecting the Maroochydore CBD with Caloundra, will pass through Birtinya and the $3.2 billion, 37-kilometre rail extension between Beerwah &amp; Maroochydore.

[smartcode_project:default project_id=108399 project_image_fid=232439]

Further infrastructure upgrades in the region include the Sunshine Coast Airport expansion of the 5.6-hectare greenfield Maroochydore CBD, which will contribute $4.4 billion to the economy, and the $3.2 billion investment in the Sunshine Coast Health Precinct.

All of the infrastructure—the expansion of the Sunshine Coast Airport, the light and heavy rail extension project, solar farm, submarine cables, injection on the Sunshine Coast health precinct, and a new USC University campus—will create over 100,000 jobs for the region which is already booming more than some of Australia's capital cities.

The GDP of the Sunshine Coast is $24 billion a year, which surpasses Adelaide's, Canberra's, and Darwin's GDP. Sunshine Coast's economic growth is expected to reach $33 billion by 2033.

[smartcode_project:default project_id=108399 project_image_fid=232440]

Sunshine Coast has evolved beyond its initial small-town status, indicating significant potential for growth and an attractive investment opportunity.

The transformation into a larger city, coupled with unprecedented factors, is expected to lead to a substantial economic expansion, potentially more than doubling in size within the next 15 years.

Despite the positive outlook, challenges such as record-low unemployment and persistent population growth highlight an increasing demand for housing on the Sunshine Coast. These challenges are further intensified by a growing shortage of available dwellings, creating a critical opportunity for astute investors to capitalise on the favourable conditions anticipated.

[smartcode_project:default project_id=108399 project_image_fid=230354]

According to Bis Oxford Economics, solid population growth, combined with supply-side challenges, is expected to result in the undersupply of dwellings on the Sunshine Coast rising from 3,900 dwellings in FY2023 to approximately 4,800 dwellings in FY2027.

Investors at St Clair, two adjoining buildings on the water, can expect to secure tenants anywhere between $600 to $680 a week for the two-bedroom apartments, which would reflect a rental yield of around four per cent. They start from $749,900.

The three-bedroom apartments, priced from $869,900, could see yields at comfortably over four per cent if they secured a tenant at the lower end of the $700 to $900 a week forecast. At closer to $900 a week, that yield&nbsp; jumps to nearly 5.5 per cent.

[smartcode_project:default project_id=108399 project_image_fid=230765]

The $150 million development, KArchitecture-designed St Clair, on two side-by-side blocks on Waterfront Retreat, will comprise two eight-level residential towers with 200 two, three and four-bedroom apartments.

There will be a maximum of 13 apartments on each level. Some large penthouse apartments will have over 50 sqm of outdoor space, while a handful of courtyard apartments will have around 90 metres of gardens.

A 25-metre resort-style lap pool is on the ground level, featuring a five-metre shallow wading entry adjacent to a BBQ pavilion. A residents' 16-seat dining room with a private outdoor terrace complements the pool for social gatherings.&nbsp;

[smartcode_project:default project_id=108399 project_image_fid=230355]

Crowning St Clair is a communal rooftop terrace enveloped by lush subtropical landscaping by Place Design Group, with an outdoor kitchen and BBQ facilities. The rooftop deck faces Bokarina Beach towards the east, while the lounge overlooks the hinterland to the west.

Additional amenities and services include an outdoor beach shower, dog wash facilities, parcel locker storage, and professional property management.

Builder developer Habitat, who are currently building The Corso in Maroochydore where they are also seeing significant interest from Sydney investors, has fast tracked construction due to strong sales.

Habitat Construction is estimating completion of St Clair in Q1 2026.

[smartcode_project_cta:default project_id=108399]

The GDP of the Sunshine Coast is $24 billion a year, which surpasses Adelaide's, Canberra's, and Darwin's GDP

Why Birtinya's newest off the plan apartment development St Clair stacks up for investors

It's always quite fascinating talking to developers. No two conversations are ever the same.

They've all got a different story, a varying level of experience and completed development pipeline. Most importantly, every developer has a different way of doing things, from how they identify development sites to what type of product they develop.

Established Sydney property developer <a href="/developers/billbergia">Billbergia</a> found where they would sit in the Sydney off the plan apartment market in the mid 1990s, after starting life in 1988 as a civil contracting company before focusing on townhouses and low-density apartment development.

The strategy was a simple but effective one, and it was a strategy that relied heavily on location.

They doubled down on the waterfront, where they've in essence created whole suburbs. While the strategy has evolved in recent years to create communities around strong transport links in the likes of Lidcombe, Arncliffe and West Ryde, waterside suburbs are where the developer is still where the action is.

Speaking recently to Joseph Kinsella, third generation Kinsella who is the group Director, it was clear <a href="/developers/billbergia">Billbergia</a> knew what type of apartment developer they would become right from the outset.

"Dad [<a href="/developers/billbergia">Billbergia</a> Founder John Kinsella AM] saw an opportunity to acquire and amalgamate areas near both water and transport and took ownership of large sites in Meadowbank, Rhodes, Wentworth Point and Camelia.

"History has always turned its back to the water. It's where industrial precincts were located and where unloading and loading were the main activity. But the natural transition, as Sydney's gentrified and come out of the industrial era, these locations are at a premium," Kinsella says.

<a href="/developers/billbergia">Billbergia</a> completed their Meadowbank precinct, Waterpoint Shepherds Bay&nbsp;complex where the family office is located, over a decade ago, and with it between 800 and 1000 apartments.

Meadowbank is located just across the Parramatta River from Rhodes and Wentworth Point, where <a href="/developers/billbergia">Billbergia</a> is still developing.&nbsp; They've been developing in Wentworth Point almost as long as the suburb has existed. Previously part of Homebush Bay West, it was only 2009 when Wentworth Point became its own suburb.

"Construction in Wentworth Point started in around 2010, but the visioning of the project happened long before that," Kinsella said.

"There were mostly just four to eight-level apartment projects, no real town centre, no schools, and not much opportunity for pedestrian activity or transport.&nbsp;

"Fast forward 12 years and there's a thriving community with a vibrant town centre, around 3,000 apartments, and transport in and out of the suburb, both by bus, car, and the now famous public transit and active transport Bennelong Bridge.

<a href="/developers/billbergia">Billbergia</a> has just unveiled updated plans for its Bennelong Cove project,&nbsp;the final stage of the multi-national award-winning 11-hectare master-planned community at Wentworth Point in Sydney’s inner-west.

The proposal also incorporates a waterfront promenade with amphitheatre, restaurants, cafes and a registered club and pub to activate the foreshore promenade with a major 16,000 sqm new park in the heart of the town centre. It’s accompanied by $70 million in new community and social infrastructure, a $36 million multi-purpose indoor and outdoor sports and recreation centre with outdoor courts, as well as two childcare centres.

Read more:&nbsp;<a href="/news/nsw/billbergia-unveils-updated-plans-for-bennelong-cove-wentworth-point-masterplan">Billbergia unveils updated plans for Bennelong Cove, Wentworth Point masterplan</a>

<img alt="Billberbergia" data-entity-type="file" data-entity-uuid="b8e06889-191b-4fe6-9ddd-3dc5aae3c865" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%203.40.26%20pm.png?VersionId=uqGmynh1w0AWIAHVqVVxPD7WiO8AkuNw" />

Over in Rhodes, accessed by Bennelong Bridge from Wentworth Point over Parramatta River which <a href="/developers/billbergia">Billbergia</a>&nbsp;developed, Kinsella says they've seen a number of different markets and cycles over the 15 years they've been developing in the suburb.

"The unit mix back in the early 2010's was typically more investor focused, ones and two-beds mainly. You couldn't sell a three-bed apartment 15 years ago," Kinsella said.

"Now there's more infrastructure, a primary school and construction nearing completion for a new high school, the suburb has transitioned from investor friendly to owner-occupier. Everything is two and three-bedrooms with some family four-bedders.

"Owner-occupiers are seeing a suburb which is more appealing, affordable and lower maintenance home for family living compared to the traditional family home which is now out of reach for so many in a quality suburb. There's everyone from families to young professionals who both Rhodes and Wentworth Point are appealing to."

Kinsella says there are two halves to Rhodes, the east and the west, with the train station as the centrepoint.

"The west side is where the majority of rezoning happened in the early 2000s, and that's all but delivered. We recently completed the Super neighbourhood shopping centre Rhodes Central, adjacent to the train station entry on the west side. That's really the hub of the suburb for shopping."

<a href="/developers/billbergia">Billbergia</a> is currently developing stages two and three of Rhodes Central, two apartment towers with a community recreation centre on three levels in the podium. The two towers, with 674 apartments, will be the second to last piece in that precinct, with <a href="/developers/billbergia">Billbergia</a> currently in discussions with council about providing additional infrastructure to the suburb with the possibility of a bus interchange adjoining the train station.

In October <a href="/developers/billbergia">Billbergia</a> submitted plans for&nbsp;a 37-level, 244-apartment tower at&nbsp;9-13 Blaxland Road, Rhodes.

The proposed new sustainable tower features a striking slender form designed by architects GroupGSA in collaboration with Singaporean landscape studio Salad Dressing - whose exterior design concept earned them first place in a design excellence competition for the site.

Aligned with the principles of the 2021 Rhodes Place Strategy, the proposed new tower sits within the&nbsp;<a href="/developments/rhodes-nsw-2138">Rhodes</a>&nbsp;Station Gateway East precinct that was rezoned by NSW State Government in 2021 following extensive community consultation.

Read more:&nbsp;<a href="/news/nsw/billbergia-file-for-sustainable-rhodes-apartment-development">Billbergia file for sustainable Rhodes apartment development</a>

While continuing their strong foothold in Wentworth Point and Rhodes, <a href="/developers/billbergia">Billbergia</a> has branched out over recent years.

They have Arncliffe Central, a multi-stage development near the Sydney Airport and the first masterplanned community of its scale in Arncliffe.

In partnership with the NSW Government Land and Housing Corporation and community housing provider Evolve Housing, Arncliffe Central will deliver four towers with over 800 apartments above a retail podium, as well as parklands, a&nbsp;brand-new community centre, childcare facility, full-line supermarket with supporting retail, and an ‘eat street’ restaurant and café precinct on the 1.3-hectare site.

They also have just completed four towers at Lidcombe Rise adjacent to the Station, providing 41 per cent social and affordable housing, and three apartment towers at The Parade in West Ryde, next to the West Ryde Train Station.

<a href="/developers/billbergia">Billbergia</a>&nbsp;is widening its net once again, not only to a new suburb, but a whole new area with their latest plans, a two-tower, work-from-home focused development in Chatswood.

The PBD Architects-designed towers at 8 Wilson Street, which will be the developers first foray into the North Shore market, will be connected by a podium with retail, commercial showrooms, and flexible SOHO style live/work offerings.&nbsp;

The two 27-level towers will have 251 apartments.&nbsp;

Read more:&nbsp;<a href="/news/nsw/billbergia-focus-on-hybrid-remote-working-at-new-chatswood-apartment-development">Billbergia focus on hybrid, remote working at new Chatswood apartment development</a>

<a href="/news/nsw/billbergia-focus-on-hybrid-remote-working-at-new-chatswood-apartment-development"><img alt="Bilbergia" data-entity-type="file" data-entity-uuid="9e7d0170-c7d9-4645-a989-50aaba2c237b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%204.23.09%20pm.png?VersionId=.vmbAC9dlcoQ8xiN0RFJTqPhEHSa7YyO" /></a>

To highlight Billbergia's long standing in the Sydney off the plan apartment market, they were one of the first developers to work directly with Building Commissioner David Chandler OAM before highly anticipated iCIRT rating system was in place.

"We were one of the industry leaders who worked hand in hand to put the iCIRT rating system together, and we were one of the first to achieve the rating," Kinsella said, adding that the system is starting to make an impact.

"Initially the rating system was a bit slow until it got consumer recognition, but it's starting to get there," Kinsella said.

"It can be more of a marketing push for more and more developers, but ultimately from a consumer point of view, if you're set on a suburb and you see one developers project with it and another without it, people will naturally start gravitating to those developers."

On the outlook of the Sydney off the plan apartment market in 2024, Kinsella said there's a lot of demand drivers which will point to growth.

"Migration is there and there's growing demand, while supply is quite constrained due to planning, and even when supply is available, many projects still aren't feasible.

"Prices need to catch up, and off the plan apartment prices will have to go up for buildings to be developed."

Speaking recently to Joseph Kinsella, third generation Kinsella who is the group Director, it was clear Billbergia knew what type of apartment developer they would become right from the outset

Billbergia: The suburb-creating developer expanding its horizons

Riverlee has unveiled an expansive waterfront penthouse which will top its $600 million <a href="/new-apartments/seafarers-docklands-731-flinders-street-docklands">Seafarers apartment development</a> on the Docklands waterfront.

Designed by <a href="/developers/riverlee">Riverlee</a> founder and architect Clement Lee OAM in collaboration with Nonda Katsalidis and the team Fender Katsalidis, the 719 sqm, luxury penthouse has been priced from $18 million.

The apartment, with four bedrooms and four bathrooms, has been designed with its own personality and configuration to create a result that is refined and compelling,&nbsp;Fender Katsalidis principal Rosie Morley says.

“Generous scale, bold intersecting forms, integrated joinery and the masterful interplay of texture, colour, and light continue across every room,” Morley says.

“With framed views to green outlooks, these apartments use biophilic design to make luxury and simplicity one.

"Skylit conservatories and terraces provide an immediate sense of calm, and flexible floor spaces give residents the opportunity to come together or break away.”

<img alt="Seafarers" data-entity-type="file" data-entity-uuid="e940c95d-7cf0-4ac6-ba49-f238aaf1579d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%202.08.35%20pm.png?VersionId=xn1gzNYIyWfHHpdEGxRazymPbtkz41pU" />

Home to Australia’s first 1 Hotel, the US-founded, nature-inspired luxury brand, <a href="/new-apartments/seafarers-docklands-731-flinders-street-docklands">Seafarers</a> will be home to the first completed hotel-branded residences in Melbourne.

Supported by the dedicated team of over 200 hotel staff, residents gain full access to guest amenities and hotel services such as housekeeping, in-room spa treatments, private chef, 24/7 concierge, botanical and pet care, valet, and signature 1 Hotel events.

Launching the penthouse to the market in the same month <a href="/developers/riverlee">Riverlee</a> kicks off its 30-year anniversary celebrations, Clement Lee says the luxury residence is a project of personal significance to himself and Riverlee’s in-house design team.

‘’The penthouse at Seafarers offers an experience that exemplars and exceeds the quality, functionality and placemaking that Riverlee has become known for," Lee says.

"This is the culmination of my career, 30 years as a developer and 40 years as an architect and urban planner.

“Working with our long-term project partners Fender Katsalidis, we have created something that signifies more than a home — it is the crown jewel of Seafarers and a legacy that I am personally very proud of.”

[smartcode_project:default project_id=27728 project_image_fid=173913]

Situated on the final piece of Melbourne’s original waterfront, the 18th-floor penthouse represents the last opportunity for uninterrupted views of Melbourne’s Yarra River, boasting its own 72 sqm biophilic open terrace, a rare offering for its height and scale. Inside it has&nbsp;floor to ceiling views, a private lobby entrance, wine cellar, formal dining, and cocktail lounge.

The 125 sqm master suite features&nbsp;Poliform walk-in robes, while guest bedrooms and social spaces are arranged around a grand central gallery and internal conservatory.

With construction underway, 1 Hotel &amp; Homes Melbourne is set to open in 2024. The Agency co-founder Steven Chen says the premium offering and the imminent timing of the penthouse’s completion will be of interest to high net-worth clients looking for a brand new turnkey residence.

[smartcode_project:default project_id=27728 project_image_fid=173942]

“This is a rare offering in terms of location, the immense size of the residence and the integrated 5-star hotel services and amenities on offer, so we are anticipating strong interest,” Chen says.

“With breathtaking views of the Yarra River and the beautiful Melbourne CBD skyline, this lock-and-leave penthouse offers immense privacy and high security."

Chen believes there will be a lot of clients interstate and internationally that will want to acquire the penthouse as a second or third residence.

Recent findings by Knight Frank Research have revealed future demand for second homes, including branded residences, is expected to be driven by rising affluence, increased mobility, and the desire of wealthy investors to expand their residential property portfolios.

Fifteen per cent of UHNWIs have been considering a purchase in 2023, it reports, and global sales of prime and super-prime properties have rebounded, with Australia considered a favoured destination for second home purchases.

[smartcode_project_cta:default project_id=27728]

The Agency's Steven Chen believes there will be a lot of clients interstate and internationally that will want to acquire the penthouse as a second or third residence

Riverlee reveal $18 million penthouse atop Seafarers, Melbourne apartment development

The Minns Labor government has announced an enhanced Sydney Metro West project will be delivered, with the potential addition of new stations to help drive new housing supply.

The government is moving to link the construction of major new transport infrastructure in Sydney to major new housing uplift, and this focus will underpin Metro West.

It’s why the NSW Government has also directed Sydney Metro to work on increasing the delivery of new housing supply along the Metro West alignment, to support the government’s plan to build more well-located homes near new and existing transport infrastructure.

If we are going to tackle this crisis, to create more housing supply that will drive down the cost of renting or buying a home, our city is going to have to change.

We need well-located houses and apartments near well-connected transport infrastructure, so people have a place to call home, where they can move around our city easier. Metro West is the beginning of this.

<h3>More sustainable timeline to be adopted following Sydney Metro Review</h3>

The project will be reset to a more sustainable timeline, with the project expected to be completed by 2032.

The additional construction time means taxpayers will not be paying a premium to deliver the project and will provide the necessary timeframe to explore additional station and housing options.

The previous government left a 7-kilometre gap between Sydney Olympic Park and Parramatta metro stations.

To continue this project without maximising its potential to underpin the construction of thousands of new homes would have been an incredibly wasteful missed opportunity.

To that end, the NSW Government has directed Sydney Metro to complete scoping studies for up to 2 new stations to be constructed west of Sydney Olympic Park, along the existing planned route, with a decision made based on their ability to drive greater urban infill housing.

The announcement has been endorsed by the recommendations of the Sydney Metro Independent Review.

Independent reviewers Amanda Yeates and Mike Mrdak have concluded their thorough analysis of the Sydney Metro project. Their findings include:

<ul>
	<li>The government should commit to the current 9 station alignment of Sydney Metro West at a minimum, targeting an opening date of 2032. The reviewers made a point of noting the “arbitrary” nature of the previously announced delivery date determined by the former government.</li>
	<li>Ensure the current design and construction plans do not preclude additional stations from being considered as station locations in future.</li>
	<li>That Sydney Metro to provide a consolidated property and placemaking strategy across all existing lines to support the government’s priorities regarding housing supply.</li>
	<li>That a business case should be prepared to improve bus and active transport connections to broaden the catchment of the existing alignment.</li>
</ul>

Sydney Metro West will ensure tens of thousands of people will be able to live next to a ‘turn up and go’ service that connects them to their jobs, their services and their communities with a train every 4 minutes.

Sydney Metro will move to shortlist delivery partners and develop a procurement model that provides opportunities to get the most housing and the best return from this significant investment for the people of NSW.

<h3>MOU with the Australian Turf Club on Rosehill Racecourse</h3>

The critical need to deliver housing in well located areas, along transport links means the Minns Labor government has commenced discussions with the Australian Turf Club (ATC) on a <a href="/news/nsw/minns-labor-government-to-discuss-converting-rosehill-racecourse-into-25-000-new-homes">proposal to relocate Rosehill Racecourse and build up to 25,000 new homes</a>, surrounded by greenspace and a new Sydney Metro West station.

The proposal, which was brought to the NSW Government by the ATC, centres around the potential to build more than 25,000 new homes on the Rosehill Racecourse site. This would allow the government to explore the feasibility of a new Metro West Station at Rosehill.

The plan will secure the long-term future of horse racing in NSW and the 90,000 jobs it supports with several sites across Sydney to be earmarked and investigated for a new, world-class racecourse track and facilities.

The NSW Government and the ATC have signed an MOU on the potentially historic plan, which would be subject to the NSW Government’s unsolicited proposals process.

<h3>Enhancing transport links and boosting housing across the Sydney Metro West project</h3>

The Minns Labor government has also announced further work will also be considered to broaden the catchment of all Metro West stations with enhanced land transport links, like rapid buses to ensure that more communities will be able to benefit from this once-in-a-generation investment.

Sydney Metro has been tasked with preparing a rapid assessment to create new bus connections to broaden the catchment of the existing alignment.

This work will be subject to a future NSW Government investment decision, which would seek to have this infrastructure and services operational in time for first passenger services on Metro West.

The government will use the already legislated Housing and Productivity Contributions system to ensure some of the value created by government investments will fund future infrastructure.

NSW Premier Chris Minns said this project won’t just change the way people move around the city; it will now also provide the well-located homes for future generations to live in.

“Sydney Metro West is the biggest public transport project in the country. But we’re resetting Metro West to ensure it will be the city-shaping project it always should have been."

Transport Minister Jo Haylen said the&nbsp;review into Metro projects delivers Sydney an improved version of Metro West.

"It’s a new project for the whole of Sydney, building more housing and doubling rail capacity between the Parramatta and Sydney CBDs.

“It won’t just mean a new metro service, it means better train services for Western Sydney too, including in the outer west and Blue Mountains on the T1 Western line.

"Metro West will also cut crowding by 30% at stations like Strathfield, Redfern and Burwood.”

NSW Premier Chris Minns said this project won’t just change the way people move around the city; it will now also provide the well-located homes for future generations to live in.

Enhanced Sydney Metro to drive new housing supply

Homebuyers have a new reason to be confident about building quality in NSW with the official opening of Building Commission NSW this week, the state’s first ever dedicated building regulator.

From today Building Commission NSW, led by Commissioner David Chandler, will open its doors.

The newly established agency will lift the existing Office of the Building Commissioner out of NSW Fair Trading to give staff dedicated resources and a clear focus on the building sector.

Delivering a standalone regulator was a key election promise of the Minns Labor government, ensuring builders and the homes they construct in NSW are compliant, safe and durable.

The change means NSW will go from just 40 staff dedicated to enforcing quality and standards in the building industry to more than 400.

Funded by a $24 million down payment in the NSW Budget, Building Commission NSW will be a one stop shop for regulation, licensing and oversight of the sector.

While the NSW Government is committed to tackling the NSW housing supply crisis after over a decade of inaction, the government will not allow quantity of homes to come at the expense of quality.

This is another milestone in the work the NSW Government has already completed to lift standards across the industry, including:

<ul>
	<li>new laws to dramatically expand the Building Commissioner’s powers over freestanding residential homes.</li>
	<li>elevating the sector to cabinet level with the first ever Minister for Building.</li>
	<li>boosting the capacity of smaller builders to deliver quality medium-density housing through initiatives like BuiltIt NSW.</li>
</ul>

The recent completion of Parq Bexley marks&nbsp;the first building in Australia to be covered by Decennial Liability Insurance (DLI), a decade-long guarantee against serious defects.

Parq’s builder Urban Property has also announced that DLI will be rolled out across all future projects.

[smartcode_project:default project_id=29078 project_image_fid=216582]

Owners in buildings covered by DLI can make a claim to get defects repaired for up to a decade after completion, whether their builder is still operating or not.

NSW is the first state in the nation to offer decennial liability insurance and the NSW Government recently passed laws to encourage more builders to sign up and protect buyers.

“In recent years we’ve heard horror stories about defects in apartment buildings but we’re turning the tide with Building Commission NSW," NSW Premier Chris Minns said:

“The Building Commissioner has made a start restoring integrity, now we’ve given him the powers and resources he needs to get on with the job.”

Minister for Building Anoulack Chanthivong said the Building Commission NSW will turbocharge our work to restore trust and integrity in the building sector, while&nbsp;Building Commissioner David Chandler OAM says the Commission's team comprises amazing, talented and committed people.

“It will be my privilege to lead this next phase of delivering the trusted housing that the state's community desperately needs.

“When I started this work everyone was driving towards the bottom of quality, now we are all working towards the top and Urban Property is a great example.”

Funded by a $24 million down payment in the NSW Budget, Building Commission NSW will be a one stop shop for regulation, licensing and oversight of the sector

Building Commission NSW opens to ensure compliant new housing

The Minns Labor government has announced discussions have commenced with the Australian Turf Club (ATC) on a proposal to relocate Rosehill Race Course and build tens of thousands of new homes, surrounded by greenspace and a new Sydney Metro West station.

The proposal, which was brought to the NSW Government by the ATC, centres around the potential to build more than 25,000 new homes on the Rosehill Racecourse site. This would allow the government to explore the feasibility of a new Metro West Station at Rosehill.

The proposal will also turbocharge NSW’s world-class racing industry, securing its long-term future.

The NSW Government and the ATC have signed a memorandum of understanding (MOU) on the potentially historic plan, which would be subject to the NSW Government’s unsolicited proposals process.

<h2>Under the ATC’s proposal:</h2>

<ul>
	<li>A centre of excellence horse training facility at Horsley Park to accommodate the relocation of 300 to 400 horses from Rosehill Gardens stables.</li>
	<li>Warwick Farm redeveloped as a state-of-the-art racing, training, member and spectator facility.</li>
	<li>Several sites across Sydney will be earmarked and investigated for a new, world-class racecourse track and facilities.</li>
	<li>ATC retains and develops the Rosehill Gardens site for housing (potentially 25,000 homes), entertainment, green space and a new school.</li>
	<li>Funds from the development invested in racing, training and member and spectator facilities at all racing, training and stabling venues.</li>
	<li>The NSW Government explores the feasibility of a new metro station at Rosehill to deliver reliable public transport for the new Rosehill Gardens community.</li>
</ul>

We know that housing affordability and availability are at their lowest levels in decades, and we are facing the lowest rates of rental vacancies and a slowdown in building approvals and construction activity.

This is the biggest single pressure facing the people of NSW, with mortgage payments or rent the largest expense for most households.

The NSW Government is committed to building more housing in the right places, where people want to live – to improve affordability, reduce building and infrastructure costs and create thriving communities.

<h2>The unsolicited proposals process includes:</h2>

<ul>
	<li>Strong probity, conflict of interest and confidentiality arrangements, including the appointment of a probity adviser to advise, monitor and report at each stage of the assessment process.</li>
	<li>Prohibitions on the proponent lobbying ministers or officials on the proposal, with clear communication channels established.</li>
	<li>Clear assessment criteria, timeframes and a streamlined process for objectively assessing the proposal.</li>
</ul>

NSW Premier Chris Minns said this is a once-in-a-generation opportunity.

"The ATC sees this as a chance to secure the future of racing in NSW," Minns said.

“The government sees this as an opportunity to put its money where its mouth is and build more housing, close to transport links, with plenty of green space for new families.

“This is exactly the type of proposal my government has been talking about over the last 6 months.

“The fact is we have a housing crisis – we aren’t building enough homes. The more supply we have, the more we can drive down cost of living pressures, whether it’s for renters or those wanting to buy their own home.”

NSW Premier Chris Minns said this is a once-in-a-generation opportunity

Minns Labor government to discuss converting Rosehill Racecourse into 25,000 new homes

We've not seen any slowing down in demand, and with supply levels at significant lows due to the current construction issues, the Gold Coast market has continued to outperform the rest of the country

The top 12 developers to watch out for on the Gold Coast in 2024

Sydney is predicted to have the highest growth in luxury residential property prices of the Australian cities in 2024, according to Knight Frank research.

Knight Frank’s Global Prime Residential Forecast found the New South Wales’ capital sits in fifth place out of 25 cities globally for predicted prime property price growth next year, with 5% growth forecast.

Prime property is generally defined as the top 5% of property in each market. Melbourne came in at number eight for forecast growth in prime residential property prices over 2024, with an expected rise of&nbsp; 3%.

Globally, Knight Frank’s latest projections for prime prices in 2023 and 2024 were revised upwards by the global research network in its Global Prime Residential Forecast, foreseeing an average growth of 2.4% in 2023 and 2.5% in 2024.

<img alt="Knight Frank" data-entity-type="file" data-entity-uuid="53f3a14e-d1ea-43a3-98c5-e4e2f3b8cdc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-07%20at%2011.29.02%20am.png?VersionId=sOnYotq_Va2y8BXJRKfTzXcoz8QVKjEy" />

Both Sydney and Melbourne were in the list of 10 cities in Knight Frank’s Global Prime Residential Forecast that had seen an improvement in the luxury property price growth forecast for 2024. The 5% growth figure forecast for Sydney is a 2% increase on the original forecast for prime property price growth in 2024, made six months ago by Knight Frank, and is the second highest forecast price growth revision for next year behind Auckland.

Melbourne's forecasted price growth has jumped from 1% to 3%.

Both cities have also had better growth in luxury residential property prices than predicted over 2023, with price growth forecasts up to the end of this year also revised upwards.

Sydney’s forecast for luxury residential property growth for 2023 has been revised upward from 0% to 3%, while Melbourne’s forecast has been revised upwards from -1% to 1%, reflecting the better than expected performance of these two cities over 2023.

[smartcode_project:default project_id=136076 project_image_fid=212615]

Knight Frank Head of Residential Research in Australia Michelle Ciesielski said cautious optimism was emerging in the luxury residential property market globally, with prime buyers appearing confident that economic headwinds were easing.

“In Australia, buyer appetite is strengthening, while supply of prime properties is constrained,” Ciesielski said.

“The limited number of exceptional and most desirable prime residential property listings continues to create a price floor under many luxury Australian properties.

“This undersupply of luxury homes is one of the key factors set to shape the performance of the Australian prime residential market in 2024, with inflation and interest rates also set to play a big role.

“In saying that, in this upper echelon of the market, we are seeing an increasing number of cash buyers, with the proportion being 60% of all prime residential property sales in Sydney and 65% in Melbourne.

“Climate risk, geopolitical tensions and currency shifts are also expected to impact the Australian luxury property market.

“Amongst these risks there are opportunities, however, with property set to continue to appeal as a means to diversify and spread risk, being seen as a safe haven for capital.”

[smartcode_project:default project_id=108801 project_image_fid=236536]

Prime residential property has outperformed most other asset types over a 10-year period, with 55% growth, according to Knight Frank’s Prime Global Cities Index. It came in second behind oil, with growth of 110% over the same timeframe.

Knight Frank Head of Residential in Australia Erin van Tuil said in pockets of prime suburbs around Australia, record sale prices were being achieved, with some taking place before an advertising campaign takes place.

“Many of these properties are located on the waterfront, large estates and on the upper levels of apartment towers with panoramic views,” she said.

“The super-prime end of the market - especially A$20m-plus - is doing exceptionally well, with no shortage of buyers and limited homes.

“Most buyers are local Australian buyers, with a notable absence of foreign buyers committing to sales, despite enquiries.

“Relative to other Australian cities, Melbourne has counted more prime luxury product built over the past couple of years, which has made prime prices lag the stronger performance in other Australian cities.

“Melbourne is also still recovering from an extended lockdown in the pandemic, with city seeing many residents move interstate to Queensland and the slower return of international investors which the city relies heavily on.”

Knight Frank research shows in Sydney 5% of prime property buyers are foreign buyers, while in Melbourne it’s 10%.

Both Sydney and Melbourne were in the list of 10 cities in Knight Frank’s Global Prime Residential Forecast that had seen an improvement in the luxury property price growth forecast for 2024

Sydney and Melbourne in world top 10 for luxury property market growth in 2024: Knight Frank

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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