A Norman Park riverfront complex has secured its first off the plan sale ahead of its late 2022 completion.

One of the four river homes at Rivera River House, 88 Wynnum Road, has been sold to an interstate buyer. Another is on the market for $5.995 million through Trevor Egan of Belle Property Bulimia.

[smartcode_project:default project_id=94593]

The two direct riverfront houses will have a 12m boat mooring. The Brenta at Rivera river houses will be built on the 1688 sqm site.&nbsp;Ekko Point Properties who commissioned O&#39;Neill Architects to design the offering.

Each of the new four homes will have four bedrooms and three bathrooms over three levels, with pools and private lifts. They will be built by Scott Harris Constructions.

[smartcode_project_cta: project_id=94593]

One of the four river homes at 88 Wynnum Road has already sold to an interstate buyer.



jchancellor-FAypfDUnLy

Boutique Norman Park complex secures first off the plan sale

A three-bedroom, two bathroom harbour front apartment at McMahons Point sold at weekend auction for $4.7 million.

The 16/18-22 West Crescent St apartment secured its sale after just seven bids.

Adrian Bridges, of Atlas by LJ Hooker Lower North Shore, had six registered bidders, but just two competed.

It had 230 sqm space in the 1984 Mirvac built complex of 20 apartments with views across Berrys Bay to Balls Head Reserve and capturing views of the Anzac Bridge, city skyline and Balmain.

It last sold in 1992 at $760,000.

The boutique waterfront reserve Sandpipers block saw a $3.6 million top sale last November.

Sydney weekend auctions saw an 81% success rate from its 206 auctions at a $1m median, according to CoreLogic.

The national apartment auction success rate was 76% from the 277 offerings.

There were just the 42 results in Melbourne - and a 64% success rate - given the long weekend.

The harbour-front McMahons Point apartment sold after just seven bids

$4.7 million Mirvac-built McMahon Point apartment tops weekend auction sales

Seven vacant blocks in Sydney’s south-west have been listed be by the NSW Department of Planning, Industry and Environment.

The blocks will be sold via online auction through LJ Hooker Picton.

The properties are expected to attract strong interest due to the scarcity of vacant land, LJH agent Mal McEachern said.

"It was super rare for such large blocks to even be listed as owners usually sell direct to developers,” Mr McEachern said. 

The properties – most around 2ha in size and the largest at 4.8ha - are located within the Wollondilly Shire townships of Picton, Tahmoor, Thirlmere and Douglas Park. 

The largest allotment at 95 Stilton Lane, Picton, is expected to fetch around $3.1m. 

The 4.8ha estate overlooks the picturesque suburb and surrounding acreage – and comes with a small vineyard. 

The land, which is 5km from the town centre, is classified RU2 rural landscape and would need to be rezoned for future development.

A 2.19ha estate at Douglas Park (pictured above), listed with an auction guide of $1.25m, is expected to be popular with local upgraders as it was a premium address. 

Two properties with R5 zoning at 30 Glenappe Place, Tahmoor (2.14ha), and 101 Brundah Rd, Thirlmere (2ha), are likely to attract interest from developers due to their subdivision potential. 

The properties will be auctioned on separate days within the same week using an online portal system SOLD ONLINE which allows potential buyers to bid from their computer.


The properties will be auctioned on separate days within the same week using an online portal system

NSW Government lists vacant blocks in Sydney's south west

The CBA chief executive Matt Comyn has warned, with interest rates at record lows, that borrowers could be taking on too much debt.

He made the call for macro prudential measures while appearing before the House of Representatives economics committee. 
&nbsp; 
Comyn said he was not particularly concerned about the current circumstances, but suggested it was prudent for regulators to take proactive regulatory action.

He thought it better for regulators to avoid harsher measures in the future, such as those imposed in New Zealand, given the apparent speed at which Australian capital city property prices are rising.

&ldquo;We think it would be important to take some modest steps sooner rather than later to take some of the heat out of the housing market,&rdquo; Mr Comyn said.

&ldquo;I&rsquo;m not concerned per se about the period just gone,&rdquo; Mr Comyn said.

&ldquo;But it&rsquo;s much harder to act when the market is accelerating.&rdquo;

He noted the current market strength was different to the investor and interest-only booms, which led to macro prudential speed limits in 2014 and 2017.

The emerging issue he said, was more macro than prudential, because there was no evidence of a widespread decline in lending standards.

&ldquo;If we look at the simple numbers and the relative growth rate of housing over the last 12 months I am not concerned about the period just gone. But in terms of increasing housing debt and increasing house prices we are increasingly concerned,&rdquo; Mr Comyn said.

&ldquo;The bigger concern is the resilience of borrowers in a much higher interest-rate environment,&rdquo; Mr Comyn said.

&ldquo;An increase (in the floor servicing rate) is very easy to implement and could apply to non-banks as well as banks.&rdquo;

The CBA chief said despite the recent lockdowns in NSW and Victoria, that there was no evidence of a material slowdown in loan applications.

The Commonwealth Bank boss was appearing before the House of Representatives economics committee

Buyers warned about taking on too much debt by CommBank's Matt Comyn

The property services group Oliver Hume has seen a spike in buyers paying deposits on new blocks of land without meeting a representative or visiting a sales office.

Oliver Hume launched its Online Deposit Direct proptech platform in April 2020 in conjunction with Villawood at their Redstone estate at Sunbury.
 
The platform has accounted for 12% of all Oliver Hume deals since it was launched.
 
Oliver Hume chief executive officer Julian Coppini said the company had moved rapidly to overcome restrictions and pandemic-proof sales processes.
 
“The platform creates a seamless transaction between the project website, CRM and interactive masterplan ensuring that inventory is always live and only available lots are able to be purchased,” Mr Coppini said.
 
“Purchasing land has evolved from a physical exercise into a digital experience through technological innovations and changes in buyer behaviour.
 
“Transactions are now taking place remotely online at any time, any day, anywhere – with some finalising their transaction between 12am and 6am in the morning.
 
“Oliver Hume is innovating so buyers can make deposits entirely online in a seamless way that suits them and meets health and safety protocols.
 
“Buying land is now a 24/7 industry and digital platforms like our Online Deposit Direct are making sales more convenient, and safer, than ever.”
 
Oliver Hume head of operations for project marketing, Darren Blair said COVID-19 has sped up the digital transformation across the industry.
  
“Purchasing a block of land can be done with confidence whilst watching the latest Netflix series.
 
“Land is accessible and purchasable in a way it’s never been before and the way the Online Deposit Direct has been received by buyers is very encouraging," he said.

Oliver Hume head of operations for project marketing, Darren Blair said COVID-19 has sped up the digital transformation across the industry

Oliver Hume enabling the purchasing of home building blocks online

Industry and council calls for more accessible and transparent housing supply data have prompted the NSW Government to launch two new online platforms.

It is hoped that they will become the state&rsquo;s most authoritative resources on housing supply and population movements.

With the aim of better supporting planning and investment in NSW, Minister for Planning and Public Spaces Rob Stokes launched the Greater Sydney Urban Development Program and Housing Evidence Centre websites.

&quot;They are set to become the state&rsquo;s most authoritative resources on housing supply and population movements. 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 
&ldquo;The new Greater Sydney Urban Development Program creates a one-stop-shop for information on metropolitan housing supply, and allows us to plug in real time data on the trends affecting the housing market,&rdquo; Mr Stokes said. 
&nbsp; 
&ldquo;We are releasing a new point-in-time snapshot of the pipeline of dwellings and lots in Greater Sydney&rsquo;s greenfield areas, which will give more certainty to those making infrastructure and investment decisions in those areas. 
&nbsp; 
&ldquo;Industry and councils have been calling for more accessible and transparent data and this website will assist with their decision-making on future housing needs.&rdquo; &nbsp; 
&nbsp; 
Minister for Water, Housing and Property Melinda Pavey said the Housing Evidence Centre website would streamline the delivery of the NSW Housing Strategy 2041.&nbsp;

&ldquo;The Housing Evidence Centre aligns with the Housing Strategy 2041 to address four key areas to combat housing stress in NSW including housing supply, diversity, affordability and resilience,&rdquo; Mrs Pavey said. 
&nbsp; 
&ldquo;Councils can rely on this information as an authority to predict future housing stress which will help them to develop and deliver housing solutions based on evidence.&rdquo;

<a href="https://www.planning.nsw.gov.au/research-and-demography/urban-development-program">The Greater Sydney Urban Development Program</a> will cover the 33 Local Government Areas of Greater Metropolitan Sydney.&nbsp;

The <a href="https://www.planning.nsw.gov.au/research-and-demography/housing-evidence-centre">Housing Evidence Centre website</a> will be focused on providing data for all of NSW including regional areas.&nbsp;

The Property Council of Australia was quick to raise concerns over the latest Metro Housing Monitor data released by the NSW Department of Planning and Environment.

It called for greater action from the government on housing supply. NSW Property Council Executive Director, Luke Achterstraat said the latest figures posted online &quot;were evidence of why everyday Australians express their concerns about housing affordability and supply.&quot;

&ldquo;This latest data shows 29,785 new homes were built in Sydney over the 2020-21 financial year.

&quot;This is lower than the 30,190 homes that were completed over the 2015-16 financial year, and around 8 percent lower than the 32,464 homes completed over the 2019-20 financial year,&rdquo; Mr Achterstraat said.

&ldquo;The NSW Intergenerational Report states that we need 42,000 homes built per year. With an existing undersupply of almost 50,000 homes across the state, to fall behind a further 12,000+ homes this year puts us in dire straits and highlights the need for positive solutions.&quot;

The new Greater Sydney Urban Development Program creates a one-stop-shop for information on metropolitan housing supply

NSW Government seeks to document emerging housing supply  

The Victoria &amp; Albert Broadbeach apartment project marketing campaign will commence in October through Colliers.

The $800 million mixed-use development will feature more the 330 apartments across two residential towers rising 30 and 40 levels.

The East tower known as The Albert will comprise 114 two, three and four-bedroom apartments over 30 levels.

The west tower, known as The Victoria, will rise over 40 levels and deliver 219 apartments of one, two and three bedrooms.

[smartcode_project:default project_id=107928 project_image_fid=184933]

Construction is expected to begin mid next year and take two years to complete, the first of many Gold Coast projects envisaged by Iris Capital, Sydney developer, Sam Arnaout.

The $800 million high-rise development on Broadbeach will transform Broadbeach’s Niecon Plaza which was purchased for $58 million earlier this year.

[smartcode_project:default project_id=107928 project_image_fid=184934]

The development will also include 5458 square metres of retail, dining and office space over two levels.

It will be the biggest project on Broadbeach since The Oracle apartments by the Nikiforides family more than a decade ago.

It was the same family which built the Niecon Plaza.

The site was bought from the family of late seafood king George Raptis.

The holding came with council approval for towers of 28 and 35 storeys, with a retail hub running from Broadbeach Mall to Albert Ave.

[smartcode_project:default project_id=107928 project_image_fid=184936]

“The opportunity to purchase the Broadbeach site was not taken lightly and is in line with what we have been looking for – a multi-faceted, mixed-use project with ground-floor activation that complements the vertical village we are proposing,”&nbsp;Arnaout said. 
 
“In my opinion, this is the best site in Broadbeach to deliver a landmark transformative precinct that will be well received by the end-user market and become an important legacy project for the Gold Coast.”

“Broadbeach is on the move and a new destination precinct is long overdue to complement the growth the region is experiencing,”&nbsp;Arnaout added.

“Our plans have been carefully crafted to ensure this will be a destination for everybody to enjoy. With every project we undertake, we like to dive into the DNA of an area and deliver for the end user. V&amp;A Broadbeach will meet those objectives and transform what is already one of the most dynamic and most recognised areas of the Gold Coast.”

[smartcode_project_cta: project_id=107928]

The marketing of apartments in V&A Broadbeach will occur in October through Colliers

Victoria & Albert Broadbeach set to launch in October

A 3,822 sqm land holding ripe for an apartment complex has been listed at Box Hill.

It is currently five houses.

&ldquo;As Victoria&rsquo;s fastest growing metropolitan activity centre outside the CBD, Box Hill is absolutely thriving,&quot; listing agent Jarrod Moran at CVA Property Consultants said.

&quot;One family are proudly offering the opportunity of a lifetime for an astute developer to make their mark right in the heart of Box Hill,&rdquo; he said.

It has street frontages to Glenmore Street and William Street. 
&nbsp; 
The development site is five titles located 880 m to Box Hill railway station.

There are more than 2,790 apartments, five new hotels and high-rise offices on the cards in the Box Hill Activity Centre as one of Victoria&rsquo;s largest private urban regeneration projects by 2030.

Offers close October 28.

Box Hill&#39;s&nbsp;cultural diversity and growing appeal have made it one of the more desirable places to live in Melbourne&#39;s east.&nbsp;Urban has taken a deeper dive into some of the best apartment developments set for Box Hill.

1. Spring Street

One-bedroom apartments starting from $395,000

[smartcode_project:default project_id=100675 project_image_fid=170528]

Investors and first home buyers have both been attracted to Spring St, the newest mixed-use development slated for Box Hill.

The low price point in the project, the first in Box Hill designed by the renowned architecture firm Elenberg Fraser, has both investors and first home buyers keeping their eyes peeled.

Set in a quiet and leafy area in the bustling heart of Box Hill, Spring St provides convenient public transport, with the 109 tram, trains and buses nearby, as well as local shops and cafes. The ground level of Spring St will also home a number of retail and dining options.

Within a few hundred metres is the Box Hill RSL and Bowls Club, which meets Box Hill Gardens, a one kilometre urban park with sports courts, a running track, barbecue areas, ponds, and a playground.

The development of 312 apartments will also feature a 25 metre pool with spa, a sauna, gym,&nbsp;yoga room and more. Completion is set for 2024.

Read more:&nbsp;Why Spring St, Box Hill apartments are attracting both first home buyers and investors

2. Prospect apartments

One-bedroom apartments starting from $422,370

[smartcode_project:default project_id=3516 project_image_fid=153753]

With hotel-style amenities, a vibrant community and contemporary design, Prospect Apartments&nbsp;is one of R&amp;F Property&rsquo;s latest multi-residential projects.&nbsp;

Situated at 9 Prospect Street, Prospect Apartments will home&nbsp;193 apartments in one, two and three-bedroom configurations. Designed by Hayball, the exterior boasts an elegant and refined form with a poised glass fa&ccedil;ade.

Each apartment offers residents a choice between an East Scheme and West Scheme, each offering unique design perspectives that present a calming family space. Among the project&rsquo;s numerous amenities are a porte-coch&egrave;rre, pool gym and concierge service.

Prospect is expected to reach completion in 2022.

3. The Parade

One-bedroom apartments starting from $465,000

[smartcode_project:default project_id=3194 project_image_fid=25875]

Recently completed is the boutique apartment development The Parade, also designed by&nbsp;Hayball.

Comprising just 58 one and two-bedroom residences across 12 floors, The Parade&#39;s&nbsp;signature cascading facade gives the ability to deliver larger than average balconies with uninterrupted sky views, as well as light-filled living spaces across a number of different floorplans.&nbsp;

Designed with the latest environmental standards, The Parade incorporates sustainable materials and the harvesting of rainwater and sunlight,&nbsp;a benchmark and&nbsp;example for further Box Hill development.

The 3,822 sqm land holding is located 880 metres to Box Hill railway station

Box Hill apartment development site listed

The largest 100 residential builders created 80 per cent of new houses and apartments in the last financial year.

For the sixth consecutive year, Metricon Homes was the nation&rsquo;s number one residential builder.

The largest apartment builder in this year&rsquo;s report was Hutchies, who ranked as the 5th most active builder overall, down three places.&nbsp;

It constructed 3015 apartments, down from 3820 in 2019-20.

[smartcode_project:default project_id=14827 project_image_fid=154114]

Hutchinson&nbsp;are one of only three apartment builders in the top 20 this year, which include Meriton Apartments on 1412.

Hutchinson Builders, founded in 1918, has an average project value of $19 million, working across commercial and residential high-rise, health, education, retail, and aged care.

The top 100 list saw an increase in the number of detached house starts by 49 per cent while the number of units fell by 20 per cent.&nbsp;

The HIA-COLORBOND&reg; steel Housing 100 Report ranks Australia&rsquo;s largest 100 residential builders based on the number of homes commenced each year.&nbsp;

[smartcode_project:default project_id=7758 project_image_fid=150460]

Metricon Homes reported a total of 6,052 new home starts across Victoria, Queensland, New South Wales and South Australia. Of these starts, 5,820 were detached houses and 232 were semi-detached dwellings. The Metricon CEO, Mario Biasin advised Metricon has grown from 604 site starts in Queensland in 2019/20 to 1177 in 2020/21 representing a 95% year on year growth.

Moving up from fourth in the 2019/20 report, the second most active builder in 2020/21 was ABN Group with 5,345 starts.&nbsp;

They were followed by MJH Group with 4,548 starts.

<img alt="" height="1713" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/unnamed_1.jpg" width="2337" /> 
&nbsp; 
&ldquo;The past year has been a remarkable year for home building,&quot; HIA Chief economist, Tim Reardon said. 
&nbsp; 
&ldquo;The majority of builders increased their number of dwelling starts in 2020/21 compared to the previous year. Those that didn&rsquo;t were more likely to be in the multi-unit market. 
&nbsp; 
&ldquo;In this market, it is not surprising that detached home builders have dominated the list of the most active home builders in Australia. 
&nbsp; 
&ldquo;The loss of overseas migration last year hit the apartment market almost immediately.&nbsp;

[smartcode_project:default project_id=106819 project_image_fid=172000]

&quot;Overseas students, tourists and migrants often stay in multi-unit dwellings when they first arrive in the country.&nbsp;

&quot;This trend was exacerbated by the shift in consumer preferences towards lower density housing,&quot; he suggested. 
&nbsp; 
With this boom in home building, the minimum number of homes required to make it onto this list rose from 108 to 125, the highest in the 28 years that the report has been released. 
&nbsp; 
The top 100 builders grew their market share of the new home building market from 40 per cent last year to 44 per cent in 2020/21, suggesting that larger builders were able to expand their capacity to build faster than smaller builders.

The largest 100 residential builders increased revenue earned from home construction by 31 per cent to $31.7 billion in 2020/21.

The largest 100 residential builders created 80 per cent of new houses and apartments last year

Hutchinson ranked as nation's top apartment builder: HIA

The Surfers Paradise apartment market is Australia&#39;s most active property market.

There were 2325 sales in the year to June.

The median sale price was $425,000, up 8 percent annually.

Surfers Paradise had topped the list with 1518 property sales during the 2020 calendar year.

[smartcode_project:default project_id=106752 project_image_fid=169993]

There was also high turnover of units in nearby Southport at 984 (up 6.9% to $389,000) and Broadbeach at 859 (up 5.1% to $615,000).

Melbourne sat in second place at 1210 according to a recent Domain House Price Report, at a $542,500 median. The price was down 1.4%.

[smartcode_project:default project_id=3260 project_image_fid=62315]

Adelaide was in fifth place with 838 apartment sales at a $535,000 median, which was up 11.6% in price growth.

Maroochydore&nbsp;saw 775 sales at $550,000 median, which reflected 12% annual price growth.

Rounding out the top seven localities, Wollongong saw 737 sales, at a $599,000 median which reflected 2.4% price growth.

When it came to house sales, Point Cook lead with 1154 sales at a $685,000 median, which reflected 6.2% annual price growth followed by Craigieburn&#39;s 1088 sales at a $592,000 which had 4% annual price growth.

The most active house sales in NSW were at Port Macquarie with 1026 sales at a $620,000 median, with 11.2% annual price growth.

The Surfers Paradise unit market had the largest sales volume with strong turnover of units in nearby Southport and Broadbeach.

Surfers Paradise is Australia's most traded apartment market

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.

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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."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

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

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

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