The increase in housing prices and housing debt meant risks to financial stability could be building, the RBA Assistant Governor Michelle Bullock said.

In a speech to Bloomberg online covering the housing market and financial stability, Bullock the banks have strong balance sheets and lending standards are being maintained.

But she noted &quot;there is a risk that in this environment, households will become increasingly indebted.&quot;

&ldquo;A high level of debt could pose risks to the economy in the event of a shock to household incomes or a sharp decline in housing prices.&nbsp;

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&quot;It is these macro-financial risks that warrant close watching.

&quot;Sustained strong growth in credit in excess of income growth may result in vulnerabilities building in bank and household balance sheets.&quot;

She said the central bank was &ldquo;continually assessing&rdquo; any need to consider macro-prudential tools.

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&quot;We are monitoring the surprising and dramatic rebound in the housing market and asking ourselves whether there are financial stability risks from these developments and the accompanying rise in housing credit.&quot;

Despite some moderation during the recent lockdowns in NSW and Victoria, she noted the strength has been broad based across states and across metropolitan and regional areas and particularly in detached housing.

The macro-prudential tools would likely be &ldquo;targeted at the risks arising from highly indebted borrowers,&rdquo; Ms Bullock said.

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Tools that address loan serviceability and the amount of credit that can be obtained were more likely to be implemented.

&ldquo;Indeed we have seen such tools used in a number of countries in recent times and they could be employed in Australia should the circumstances be judged to warrant it.&rdquo;

RBA Assistant Governor Michelle Bullock said increasing housing prices and debt posed risks to financial stability

jchancellor-FAypfDUnLy

Increased housing prices and debt could pose risk to financial stability: RBA

Big and small apartment project sites have been hit by the snap two-week shutdown imposed by the Andrews government, as leading industry figures called for calm amid the civil unrest over work site safety issues.

Salta Properties managing director Sam Tarascio, who oversees the one of the state&rsquo;s largest private developers, told The Australian that he &ldquo;supports the Victorian government in a pathway that will keep the property and construction industry safe&rdquo;.

&ldquo;We are open to working with the government and public health teams to get the Victorian construction industry back on site as quickly as possible,&rdquo; he said.

The Victorian government said it had &ldquo;no choice&rdquo; but implement a shutdown after safety inspections revealed 50 per cent non-compliance with lockdown rules.

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There were more than 350 Covid-19 cases across 150 building sites, Premier Daniel Andrews said.

The chief health officer had consequentially announced the entire industry would have to be vaccinated &mdash; at least a first shot &ndash; by the end of this week.

The construction delays will hit the estimated 320,000 workers, who will seek out the Federal Government support measures.

The site closures will hit ASX listed companies including Lendlease, Charter Hall, Mirvac and Stockland.

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&quot;The way out of this is not violence, but vaccination,&quot; Daniel Andrews said today, after 48 hours of violent demonstrations.

He said he was &quot;gutted&quot; to shut the construction sites. The Victorian construction industry had been one of the few industries that worked through the pandemic.

The Property Council of Australia expressed disappointment in the decision which it estimated would cost more than $1bn a week.

The PCA Victorian executive director Danni Hunter condemned the actions of rogue protesters, but said the government needed to lay out a plan for reopening as soon as possible.

&ldquo;Closing the industry will prevent them going to work and getting paid and it will stall projects, causing immensely costly delays, putting projects and Victorian jobs at risk,&rdquo; Ms Hunter said.

In Sydney the NSW government announced it will allow construction sites to get back to full capacity with non mandatory vaccine requirements from Monday.

The rules in NSW limiting construction sites to 50 per cent capacity if they have any unvaccinated workers will be removed as the sector implements rapid testing.

The Sydney construction sites will be allowed to have one person per four square metres, even if unvaccinated workers are present.

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The PCA advised across Western Sydney, the property and construction industries account for $19 billion in economic activity and 121,465 full-time equivalent jobs, &quot;but with COVID causing financial havoc, recovery is vital.&quot;

&ldquo;Returning construction sites to full capacity - with appropriate safeguards in place &ndash; will provide a shot in the arm for our state&rsquo;s recovery as the COVID pandemic continues to impact swathes of the economy,&rdquo; the&nbsp;Property Council of Australia NSW executive director, Luke Achterstraat said. 
&nbsp; 
&ldquo;Resuming site capacity will also enable NSW to build the homes our state so desperately needs. 
&nbsp;&nbsp; 
&ldquo;We know that Sydney&rsquo;s housing challenge is not meeting the Government&rsquo;s own target of 42,000 new homes per year.&nbsp;

&quot;The removal of the 50 per cent cap on worksites is an important step in easing the handbrake on housing supply,&rdquo; he said.

Construction delays will hit the estimated 320,000 Victorian workers

Sydney apartment construction sites to resume, while Melbourne sees strict lockdown

A 700sqm apartment development site on the edge of Camberwell Junction has been sold to a local developer for $3.5 million.

The sale of 561 Riversdale Road was struck off market.

It was at a high $5,000 per sqm land rate, without an existing permit.

An application for construction of 14 dwellings on two lots was lodged two years ago with Boroondara City Council.

Zoned General Residential, the site is also next door to a public car parking. 

It was sold by Fitzroys agents David Bourke and Chris James.

Bourke noted it was close to medical clinics and allied health uses.

New residential developments in the area include the former State Bank site and adjoining Sofia’s, approved for 40 apartments and food and beverage.

There is also Brown Property Group’s Cookson Camberwell near the station.

The 616 Riversdale Road property was recently bought by a developer for townhouses.

They will join Blueprint Projects’ $175 million Camberwell Village (CV), and Dahlia’s $300 million Hawthorn Park on the other side of the junction.

Bourke said there are growing avenues for financing that has enticed a number of developers back into the market.

“A lack of stock brought to the market throughout COVID means there is a large volume of capital waiting to be deployed for quality opportunities,” James said.

Camberwell apartment development site sold for $3.5 million 

Heworth Holdings Group has lodged plans for a 25-storey mixed-use residential and commercial development the Chatswood CBD.

It includes 156 apartments, over 2,600 sqm of additional commercial floor-space and basement parking for 188 vehicles, bicycle racks and end-of-trip facilities. 

Heworth says the proposal, which was endorsed by Willoughby Council in May 2021, will help activate the northern end of the Chatswood CBD

“We’re excited that we’ve achieved this significant planning milestone which allows us to progress to a detailed development applicaton next year,” Heworth’s head of property, Christopher Walsh, said.

“The project will deliver a pipeline of much-needed housing stock in the heart of Chatswood.

“It’s a vibrant, mixed-use development which will activate the northern end of Anderson Street and support the future growth of the Chatswood CBD.”

Haworth expects to commence construction in 2023, upon planning approvals being granted.

Haworth Holdings recently welcomed 'gateway approval' from the NSW Department of Planning, Industry and Environment, for its 44-52 Anderson Street proposal.

It is set 400-metres from the Chatswood Transport Interchange.

Heworth expects to commence construction in 2023, upon planning approvals being granted


Heworth plans 25 storey Chatswood apartment tower

Investors continue to tip metropolitan markets as offering the best investment prospects, according to the 2021 PIPA Annual Investor Sentiment Survey. 
&nbsp; 
The national annual survey, which gathered insights online from nearly 800 property investors during August, found that more than 76 per cent of investors believe property prices in their state or territory will increase over the next year.

It was up strongly from 41 per cent last year, PIPA chairman Peter Koulizos said.

&quot;Few people believed the positive investor sentiment in last year&rsquo;s survey, even though history had showed the resilience of real estate time and time again. &nbsp;

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&ldquo;When we think back to last year, which was a time of much fear and uncertainty, it&rsquo;s clear that property investors and the market in general has weathered that turbulent period better than anyone dared to hope,&rdquo; Mr Koulizos said. &nbsp; 
&nbsp; 
The key findings found the pandemic continues to make it less likely that investors will sell a property over the next 12 months, according to 59 per cent of respondents (down from 71 per cent last year). However, about 18 per cent (up from seven per cent in 2020) said it had made them more likely to sell.&nbsp;

Queensland emerged as the winner by a serious margin with a staggering 58 per cent of investors believing the Sunshine State offers the best property investment prospects over the next year &ndash; up from 36 per cent last year.&nbsp;

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New South Wales was second at 16 per cent (down from 21 per cent in 2020) and Victoria was third at 10 per cent, down significantly from 27 per cent last year. &nbsp; 
&nbsp; 
&quot;While investors continue to tip metropolitan markets as offering the best investment prospects at nearly 50 per cent (but down from 61 per cent in 2020), regional markets are in favour with 25 per cent of investors (up from 22 per cent) as well as coastal locations with 21 per cent of survey respondents (up strongly from 12 per cent last year),&quot; Mr Koulizos said.&nbsp;

The two leading concerns of the investors surveyed were gaining access to lending and Australian economic conditions &ndash; &quot;the same situation as last year.&quot; &nbsp;

Nearly 62 per cent of investors believe now is a good time to invest in residential property

Investors continue to tip metropolitan markets as offering the best investment prospects: PIPA survey

A 1278 sqm Toorak Rd, Toorak apartment development site has been listed for sale.

It comes with a 24 metre frontage to Toorak Road zoned General Residential.

Set b between Grange and Orrong Rds, it is being offered for the first time in 70 years.

Teska Carson agents Luke Bisset and Matthew Feld expect 549 Toorak Road to attract a high level of interest from a broad range of buyers including investors and developers.

``This is an extraordinarily good opportunity, subject to council approval, to capitalise on what is currently a relatively strong market for luxury apartments.
 
``Based on nearby developments, there is precedent for a four level building located within walking distance of Toorak Village,’’ Mr Bisset said.
  
It is currently a three level building with12 strata-titled, two bedroom, apartments with a current income of $162,264 per annum.

The marketing suggest there was a potential, fully-let income of $224,304 per annum.

Offers are due October 7with expectations circa $9 million. 

The Toorak development site is being offered for the first time in 70 years

$9 million hopes for Toorak apartment development site

A local builder/developer has paid $8.5 million for a Rockdale apartment development site.

Located at 401-405 Princes Highway, the 1,306sqm site yielded significant interest from the broader market due to the lack of quality DA approved sites, according to its Savills selling agents.
 
The deal was negotiated by Nick Lower and Selin Ince.

The site came with favourable B4 Mixed Use Zoning with approval for 43 apartments, two ground floor retail shops and three levels of parking spanning seven levels.

The site offers 3,181sqm of net lettable area (residential) and 257sqm of net lettable area (Commercial).

The approval was for 14 x One (1) Bedroom Units, 23 x Two (2) Bedroom Units and 5 x Three (3) Bedroom Units.
 
Nick Lower said the sale price reflected a unit rate of $197,674.

The price was $1.5 million over the vendor expectations.

Located at 401-405 Princes Highway, the 1,306sqm site yielded significant interest

Rockdale 40 apartment development site sells for $8.5 million

Stockland has confirmed its acquisition of a 140ha site at Beveridge, building on its strong residential pipeline in Victoria.
 
Located 36 kilometres north of Melbourne’s CBD, Stockland will commence sales and initial site works in mid-2022.
 
The acquisition at Beveridge follows other recent purchases in Victoria at Armstrong Creek, near Geelong, and Wattle Park at Tarneit.

The site at 75 Stewart Street and 261 Beveridge Road is adjacent to Stockland’s existing Cloverton community in Kalkallo.

The 140-hectare site will see Stockland build around 1,400 homes in a future masterplanned community located within the rapidly growing Mitchell Shire Council in Melbourne’s northern growth corridor.

The site is the largest permit-approved project within the Beverage area and allows for development of housing, a town centre and other mixed-use precincts, schools and open space, all anchored via a proposed train station.
 
Stockland Communities CEO Andrew Whitson said the acquisition from Ouson Group came at a time when the outlook for the masterplanned community market is positive, supported by low mortgage rates, access to credit and an ongoing preference for low density living, bolstered by more time spent at home as a result of greater workplace flexibility.

"The future masterplanned community will be complementary to our vision for the nearby Cloverton community with a focus on liveability and community,” said Mr Whitson.
 
Stockland’s General Manager of Residential for Victoria, Mike Davis said Cloverton is set to become the metropolitan hub of Melbourne’s north and will provide future residents at Beveridge with essential services and amenity with health and tertiary education infrastructure included in future plans.
 
Cloverton is home to more than 2,500 residents with the community’s first primary school to open in 2022, with planning for a further two schools well advanced.

Stockland has over $2.6 billion invested in Victoria.

Olsen had held the property on an extended settlement agreement since 2016.



Stockland will commence sales and initial site works for Beveridge in mid-2022

Stockland secures Beveridge masterplanned community site

Queensland has become a sanctuary for first home buyers with one postcode standing far above all others, Toowoomba&#39;s 4350.

The survey by mortgage broker platform Hashching revealed where first home buyers are finding their way onto the housing ladder,.

It suggests the plight of the embattled group in New South Wales and Victoria was creating demand in other states.&nbsp;

The analysis reviewed over 3000 property transactions this year by mortgage brokers.

Of these 3000, around 50% were transactions by first home buyers.

Queensland&#39;s Toowoomba saw 20% of all Queensland first home buyer transactions with nearly postcode 4352 (St Aubyn) taking second place with 4% of transactions, followed by 4655 (Walliebum) with 2% of transactions.&nbsp;

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New South Wales is effectively the polar opposite of Queensland, Hashching CEO Arun Maharaja said.

In NSW, first home buyers are the least concentrated of all Australian states - postcode 2145 (Pemulwuy) is the only one to pull away from the pack, with 2% of first home buyer transactions.

Victoria&#39;s joint top spot was shared by two postcodes: 3977 (Devon Meadows) and 3064 (Roxburgh Park) who both represent a 2% of transactions.

&ldquo;Before beginning the analysis, we had a hunch we&rsquo;d see high levels of concentration when it comes to first home buyers,&quot; Mr Maharaj said.

&quot;The group has the most in common with each other - younger, lower budgets and often employees over self employed.&nbsp;

&quot;This would lead to areas with a sweet spot of good commuting options into capital cities, affordable housing and/or nearby recreational areas seeing high transaction numbers.&rdquo;

This hunch was broadly correct for Queensland, Tasmania, West Australia, South Australia and the ACT.

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In the ACT, postcode 2615 (Dunlop) takes the top spot, with 11% of all transactions, followed by postcodes 2902 (Kambah) and 2914 (Amaroo) with 10% each.&nbsp;

First Home Buyers in the ACT are being pushed to the outskirts of Canberra, in all directions, the report noted.

South Australia sees postcode 5606 (Port Lincoln) lead the pack with 8% of transactions, followed bypostcodes 5159 (Flagstaff Hill) and 5043 (Ascot Park) with 6% of transactions.

West Australia&rsquo;s first home buyer capital is postcode 6230 (Bunbury) with 6% of overall transactions.&nbsp;

WA first home buyers are also finding opportunities in northern Perth, with postcode 6065 (Pearsall) representing 5%, while neighbouring 6027 (Mullaloo) represents (4%) of transactions.&nbsp;

Tasmania is the most concentrated market of all, with the top three consisting of neighbouring Hobart postcodes. Postcode 7008 (Lenah Valley) took 12% of transactions, with neighbouring 7000 (North Hobart) a close second at 11% and 7018 (Tranmere) across the bridge coming third with 9%.&nbsp;

The analysis showed high levels of concentration when it comes to first home buyers in some states

Hashching reveals its first home buyer hotspots

Mortgage stress is spiking in outer suburban communities, according to analysis by Digital Finance Analytics.

It shows between 50 and 70 per cent of renters and mortgagees in key outer suburban locations "are in trouble." 

The analysis identifies 12 mainly outer suburban areas of Sydney and Melbourne where over half of the households are financially stressed. 

Based on a rolling sample of 52,000 households, the survey shows the overall proportion of mortgage holders struggling with their finances rising from 33% in February last year to 41% in July this year.

Close to 89 per cent of homeowners in Campbelltown were paying down mortgages they couldn’t afford, DFA suggest.

At neighbouring Narellan and Mount Annan it was 80 per cent, with Liverpool at about 77 per cent.

DFA had pinpointed Melbourne suburbs Fountain Gate, Narre Warren, Berwick and Hoppers Crossing has having high mortgage stress.

True Savings director Pete Steel said the financial position of the households in mortgage stress was unsustainable.

“Increasing prices are creating marginal aspirational purchasers,” Mr Steel told News Ltd papers. 

“They end up paying with only a 5 per cent deposit or they lean on the bank of mum and dad.

Borrowers changing to part-time work or unemployment in lockdown was in part behind the stress, he noted.

The analysis identifies 12 mainly outer suburban areas of Sydney and Melbourne with high stress among owners and tenants


Mortgage stress spiking in outer suburbs: DFA

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."

[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

Joel Robinson

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]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Jonathan Chancellor

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