SQM Research calculated the national residential property rental vacancy rates rose to 1.7% in September.

"Vacancy rates remained largely steady over the month of September, albeit remaining in favour of landlords for most capital cities with the exception of Melbourne and inner Sydney," SQM managing director Louis Christopher said.

Sydney and Brisbane’s vacancy rate rose to 2.7% and 1.4% in September from 2.6% and 1.3% in August. 

"In Adelaide, Perth, Darwin, Canberra and Hobart the vacancy rate remained below 1%, while Melbourne’s rate remained constant yet elevated," he noted.

Vacancy rates rose in the Sydney CBD and Melbourne CBD to 8.2% and 8.4%.

“As NSW and Victoria come out of lockdown and back to some sense of normality we expect some movement in the rental market. 

"CBD locations may well improve for property owners as overseas students return to our shores. 

"However, regional vacancy rates may also rise as longer term city dwellers seek a return to a larger choice of amenities, family and friends.”

The NSW government is looking at ways to fast-track home quarantine in November, and if that happens the Federal Government will move to facilitate the opening up of the international border into NSW for students.

The ABC estimated nearly 60,000 international students are hoping to get to Australia to begin or resume their studies.

The total number of rental vacancies Australia-wide now stands at 59,345 residential properties, up from 58,856 in August. 

SQM Research noted vacancy rates remained largely steady over the month of September

jchancellor-FAypfDUnLy

Return of international students to assist metropolitan vacancy rates: SQM

A 12 apartment block in North Melbourne has been scheduled for November 5 auction in one line.

Teska Carson is marketing a standalone apartment block on the north-western fringe of Melbourne’s CBD. 

Located at 9-11 Haines Street, the property comprises a three storey block of 12 one bedroom, self-contained, apartments. 

The 590 square metre site is zoned General Residential 1 with 16 metres frontage and rear access via Harris Street to off-street parking. 

The property will be sold subject to a current rental of $158,000 with an estimated fully leased income of $188,888 as two units have recently vacated.

Teska Carson agent Adrian Boutsakis said the city fringe address would attract a level of rental demand that continues to drive a flourishing gentrification process.

CoreLogic puts its last sale price at $5,005,000 in 2018.

The property will be sold subject to a current rental of $158,000

12 North Melbourne apartments listed in one line

A 3,873sqm Mermaid Beach development site with approval for dual residential towers has been listed through CBRE.

The site has approval for two multi-storey residential towers of 47 and 49 levels.

It was known as the Elegance project when marketed by Hubei United Investment Group, a state-owned Chinese company.

There had been 120 sales when the marketing ceased in 2019.

[smartcode_project:default project_id=6998 project_image_fid=28730]

Located on the border of Broadbeach and Mermaid Beach on the Gold Coast, there are 522 apartments across two buildings.

The West tower includes 311 one, two, and three-bedroom apartments.

The East tower has 210 two-bed apartments.

Located at 2605 Gold Coast Highway, the site benefits from frontages to Mermaid Avenue.

[smartcode_project:default project_id=6998 project_image_fid=28725]

CBRE&rsquo;s Mark Witheriff, Daniel Doran and John Nucifora are taking offers until October 28.

The site sold for $34.1 million in 2016.

The approval was granted in October 2016 which expires in October 2024.&nbsp;

The expressions of interest campaign closes October 28.

Stalled Elegance, Mermaid Beach apartment development site listed

Mali Residences, Mermaid Beach features in Gold Coast Open House, this weekend, October 16.

Gold Coast Open House is an annual event unlocking the doors of interesting and architecturally significant buildings and locations across the city for all to explore for free.

The recently completed apartment project at 4-6 Alexandra Avenue, Mermaid Beach was undertaken by Dankav Developments.

[smartcode_project:default project_id=9088 project_image_fid=56808]

Mali Residences offered 55 contemporary residences in one, two and three-bedroom configurations, with apartments priced from $435,000.

The 16th floor penthouse fetched $4,295,000.

Designed by BDA Architecture, the project features a striking façade, open-plan entertaining spaces and luxury amenities.&nbsp;

[smartcode_project:default project_id=9088 project_image_fid=28703]

The space has been formed by a series of intertwined components – an open lobby, podium parking featuring a generous green foliage wall facing north, lower residential with five units per floor, a break in the built form to showcase an entire floor dedicated to lifestyle and recreational boasting views of the sand and the water along with upper residential of three units per floor.

Located on the ninth floor is a range of leisure facilities, including a resort-style pool, sauna, gym and residents’ lounge. 
&nbsp;&nbsp; 
With the easing of Stage 2 restrictions last Friday on the Gold Coast, the Open House opportunity has arisen.

GCOH bookings are required via eventbrite.

Mali Residences saw apartments priced from $435,000

Mali Residences, Mermaid Beach featuring in Gold Coast Open House 2021

A single level Carlton warehouse building in a high-density development zone has sold for the first time in 30 years.

It fetched $5.5 million with bidders keen for the zoning that allows development heights up to 40 metres.

A short term lease in place provides initial income from the 135-139 Leicester Street warehouse that spans the 270sqm lot.

It is set among several student accomodation buildings including 127 Leicester St where the 100-plus studio spaces come with prices ranging between $150,000 and $185,000.

There are also permit approved sites with one directly opposite that will be 14 levels of accommodation for hotel, residential and student accommodation.

Scape, the country’s largest student accommodation provider, recently acquired Oxfam’s head office, for a speculated $15 million.

The four storey warehouse office at 130-138 Leicester Street will be replaced by a 334 room tower with a $43 million construction estimate. The 986 sqm site last traded at $4.08 million in 2005.

CBRE’s Nathan Mufale, Scott Hawthorne, David Minty and JJ Heng negotiated the $5.5 million deal to secure a strong land rate of more than $20,0000 per sqm.

Mr Mufale noted that the depth of bidding highlighted the strong demand for opportunities.

The bidders included student accommodation groups taking a long-term view on precincts such as Carlton.

“The lack of students travelling into Victoria caused headwinds however, the student accommodation groups we are dealing with are looking to fuel their respective development pipelines well beyond the next 18-24 months” 

“Pricing has firmed for landholding in certain city fringe pockets of Melbourne where international buyers see long-term value," Mr Heng said.

"The groups who bid on this property were all focused on building their portfolios with high quality assets that provide development upside down the track.”

A single level warehouse building sold for the first time in three decades

High density Carlton development site sold for $5.5 million

A development site which is permit ready for a luxury residential development has been sold in Armadale for $7.25 million.

It was listed with expectations around $6 million.

The property was sold with a planning permit for a Ewert Leaf designed, four level luxury residential project, comprising 14 residences including eight x three bedroom apartments and six x two bedroom apartments.

Teska Carson, in conjunction with Kay & Burton, marketed the High Street site a a "blue-chip development" opportunity.

The 872-874 High Street property comprises two single level residential buildings on separate, Residential Growth Zone, titles.

Key objectives of the Residential Growth Zone include the provision of housing at increased densities in buildings up to and including four storeys.

It has a combined 1126 square metres with 21.3 metres frontage and secondary access via a laneway off Denbigh Road. 

The properties are currently being utilised as a cosmetic surgery day clinic.


The 872-874 High Street property comprises two single level residential buildings on separate, Residential Growth Zone, titles

Armadale apartment development site sells for $7.25 million

A high-profile, permit-approved Doncaster development site is being used as a COVID drive through testing site before making way for an apartment tower.

Fitzroys&rsquo; Shawn Luo negotiated the off-market six-month lease at 584-588 Doncaster Road to 4Cyte Pathology at $10,000 gross per month.

The triple-fronted former Volkswagen dealership site spans 8,176sqm at the corner of Elgar Road on Doncaster Hill, just 150m from Westfield Shopping Centre.

Positioned in a highly-developed pocket of the suburb, it has approval for an 11-level project designed by architects Waybill comprising 260 apartments and ground floor retail spaces.

The plans for the complex date from 2018 when lodged by Nine Dings and are still active.

The site was bought for $23.2 million in 2015.

It was offered for sale by Savills between June last year and March this year with $40 million expectations through agents Benson Zhou, Julian Heatherich, Clinton Baxter and Jesse Radish.

The site has approval for an 11-level project designed by architects Waybill comprising 260 apartments

Covid testing site lease ahead of pending 11 level Doncaster apartment project

Low-interest rates combined with Australia’s favourable taxation treatment of property investment could drive a new wave of demand for residential property well into 2022, according to Warren Hogan, managing director of  EQ Economics and economic advisor to Judo Bank.

"Not only are low-interest rates denying people a decent return on traditional low-risk investments such as term deposits, they make funding low-yielding investment property extremely attractive," he suggests.

He signalled last week's decision by the Australian Prudential Regulation Authority was just the start of the process of "reining in a runaway housing market."

"This is just the first step in what could be a concerted effort by the prudential regulator to combat a full-blown speculative bubble in Australian housing in 2022 driven by a surge of investor activity."

APRA will release a paper on what macro prudential tools it has available in coming months. 

Hogan wrote on The Conversation that the new rules limiting what banks can lend were aimed at real estate investors and that APRA believes they’ll have little impact on first home buyers.

Hogan noted the RBA, with its focus on getting inflation back into its 30-year-old target zone of 2 per cent to 3 per cent, had "washed its hands of all financial stability and affordability concerns, effectively leaving APRA to deal with the mounting risks to the economy and financial system of persistently low-interest rates."

From November 1, all new borrowers must be able to service their mortgage at an interest rate 3 per cent above the current rate rather than the previously mandated 2.5 per cent after the APRA decision with estimates this will reduce the maximum borrowing capacity of a typical borrower by about 5 per cent. 

Hogan noted most people who take out a mortgage are nowhere near their borrowing capacity.

APRA will release a paper on what macro prudential tools it has available in coming months

APRA has only taken the first step in cooling home loan borrowing: Warren Hogan

The national apartment auction success rate was 76 percent after the weekend results, according to CoreLogic.

It was down just one percent on the prior week's 77 percent clearance rate and consistent with the results on the last Saturday in September.

Canberra was the strongest apartment market at 87 percent, followed by Sydney's 83 percent and Melbourne on 72 percent.

There were 515 apartment and townhouse auction results at an $810,000 median  price.

There was a $1,022,500 median price in Sydney.

Its highest advised price was in Potts Point, where a two-bedroom apartment with a study sold for $2.63 million, with five bidders taking the price $730,000 above its reserve. 

The 125sqm unit in the Rex complex on Macleay St (above) last sold for $1,085,000 in 2010.

It was offered as a $1200 a week rental last November.

There was a $718,500 median in Melbourne.

The nation's cheapest apartment sale was in Melbourne where a 1968-built apartment in South Yarra fetched $345,000 through Edward Carlile at Woodards. 

The one-bedroom, second-floor Williams Rd apartment had previously traded at $180,000.

The strong results comes as homebuyers face the prospect of being able to borrow less, after last week's decision by the Australian Prudential Regulation Authority (APRA) for lenders to increase the interest rate buffer used to check if borrowers could still afford repayments should rates rose.

There were 515 apartment and townhouse auction results across the capital cities

Apartment auction success rate in strong holding pattern: CoreLogic

Eighty Eight O&rsquo;Connell, North Adelaide&rsquo;s Le Cornu site project has seen 20 per cent of the $250 million project find buyers as marketing begins.

The majority of interest has come from local residents ahead of the opening of a display suite after the state&rsquo;s planning body approved the plans in June.

Premier Steven Marshall opened the display suite with 500 guests attending the launch.

The Adelaide-based developer, Commercial &amp; General said the majority of the 1600 registrations of &nbsp;interest came from North Adelaide residents.

Construction is set to get underway in the first half of next year.

The development, designed by architect Woods Bagot, includes two 13-storey towers and one 15-storey tower accommodating retail and commercial space.

There will be 160 residential apartments listed through Klemich Real Estate and Toop and Toop.

[smartcode_project:default project_id=93746]

Some 20 per cent of the value of the project has been sold in Eighty Eight O&rsquo;Connell, Commercial &amp; General executive chair Jamie McClure said.

Prices start at $1.2 million for two bedroom apartments and $2 million for its three bedrooms.

The penthouses are priced up to $10 million.

The 7500 sqm site at 88 O&rsquo;Connell Street has been vacant for three decades.

The project is on land purchased by the Adelaide City Council for $34 million in December 2017 with a $10 million State Government grant.

Last December, the council confirmed it had selected Commercial &amp; General as its development partner.

Established in 1997, Commercial and General has had $2.2 billion in projects delivered or under development.&nbsp;

[smartcode_project_cta: project_id=93746]

The majority of the early interest has come from local residents 

20 per cent sales success at Eighty Eight O’Connell, North Adelaide’s Le Cornu apartment project

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

Joel Robinson

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

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

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

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[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]

Jonathan Chancellor

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