Lendlease has strengthened its role as an international residential developer adding $8.4 billion in projects to its development pipeline.

It has a total of 49 development projects, comprising a total of 32 urbanisation projects and 17 communities projects.

Their development segment is predominantly focused on the creation of mixed use precincts that comprise apartments, workplaces and associated leisure and entertainment amenity. The group also develops outer suburban masterplanned communities and retirement living villages, which saw its Australian communities settlements at 2,228 lots, up 17% and sales at 1,940 lots, up 44%.

Its communities include 27,800 land lots in Queensland at Elliot Springs, Springfield Lakes, Yarrabilba and Shoreline.

It is 6,470 in New South Wales at Calderwood Valley, Figtree Hill, Jordan Springs and The New Rouse Hill.

There are 7,500 land lots in Victoria at Atherstone, Aurora, Harpley and Averley.

Despite local sales success, its global chief executive officer, Tony Lombardo noted its presence in targeted global gateway cities had seen the pandemic have a significant impact across most markets and operating segments. 

"Despite COVID impacts, profit recovered and the group made significant strategic progress,” he told shareholders.

The development segment experienced production delays, with ongoing impacts on leasing and sales across active projects. 

Notwithstanding COVID impacts, several key initiatives were progressed including an investment partner being secured for the first two residential towers at One Sydney Harbour. 

Construction activity was constrained by delays in the commencement of new projects, site shutdowns and lower productivity.

The impact of social distancing protocols across our sites was reflected in a 16% decline in revenue compared with a 9% decline in hours worked. 

The annual report noted urbanisation projects underway with an end value of $7.4 billion.

The company that has set itself an annual target of $8 billion plus worth of production has a work-in-progress pipeline worth $14.5 billion, $7 billion of which are build-to-rent apartment projects as well as master-planned community products.

The company currently has 22 major urbanisation projects across 10 global capitals, including London, Milan and New York.

The projects include Sydney Place, Victoria Cross and Barangaroo South in Sydney, Melbourne Quarter and Victoria Harbour in Melbourne, Brisbane Showgrounds and Waterbank in Perth.

Work in progress include Residences Two; One Sydney Harbour, Melbourne Quarter Tower; 100 Claremont, New York, TRX Residences & Hotel/Office, The Exchange TRX, Kuala Lumpur; Park & Sayer, Elephant Park, London
and Ardor Gardens, Shanghai.

The composition of work in progress includes apartments for sale $5.9 billion and apartments for rent $1.3 billion.

It advised it has sold 70 percent of the 637 apartments in Sydney's Residences One and Residences Two.

Residences Two is set for completion in early 2024 and the overall project of three luxury towers expected to complete by 2025, coinciding with the completion of Sydney Metro and its dedicated station at Barangaroo.

Its Residences Two joint venture is with Mitsubishi Estate, which also holds a 25 per cent interest in Residences One at One Sydney Harbour and a 30 per cent interest in Sydney Place. 
 
The company also struck up investment partnerships worth $5.1 billion were formed across five upcoming projects.

It has $28.5 billion in assets under management: residential $13.7bn: retail $11.8bn and office $3bn.



Lendlease has major urbanisation projects across 10 global capitals, including Sydney, Melbourne, London, Milan and New York

jchancellor-FAypfDUnLy

Lendlease sells 70 percent of Sydney's Residences One and Two apartments

The sky home on the 19th floor of Coolangatta&rsquo;s Reflection Tower Two has been sold for $2.8 million, the highest sale achieved in Queensland last week.

It sold through Chris Casey at Coastal Space.

The 1903/110 Marine Parade offering had last sold in 2013 at $1,795,000.

It first sold in 2005 at $1.9 million.

It is a three bedroom, three bathroom apartment with 228 sq space perched on the shores of Coolangatta Beach.

The north facing sky home has interiors inspired by Balinese decor.

The sale follows a recent $2,795,000 sale on the 17th floor.

Reflection Tower Two comes with a residents executive lounge complete with theatre.

The pair of 20-level towers were built in Coolangatta were built in 2009 by Con Nikiforides whose development company Niecon Developments then went onto capitalising on the popularity of the southern Gold Coast with the development at Kirra Beach called Nirvana by the Sea.

It has also built Broadbeach&rsquo;s Oracle towers and Aqua at Labrador.

Reflection Tower Two was handed the top honour at the 2008 Queensland Master Builders awards after it was built by Matrix Residential Projects. 
&nbsp;

The sky home is located on the 19th floor of Coolangatta’s Reflection Tower Two

Niecon Developments-built $2.8 million Coolangatta Reflection Tower Two apartment sale

Melbourne&#39;s top advised townhouse sale was 7/120 Queens Parade, Fitzroy North at $1.8 million which came mid-last week.

And a warehouse style townhouse at 22 Reeves Crescent, Richmond fetched $1.41 million.

The three-bedroom, two-bathroom Fitzroy North townhouse was architecturally designed in the reinvention of the Selotta Shoe Factory.

The Jellis Craig price guide for the 1934 three level space had been $1.8 million to $1.9 million.

It last sold at $975,000 in 2007.

The adjoining 6/120 Queens Parade townhouse, also with three bedrooms, fetched $1.8 million in April. It first sold at $406,000 in 1998.

<a href="/developments/melbourne-vic?source_news_article_id=108214&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_14.jpg" width="1200" /></a>

The original factory designed is credited to architect, H V Gillespie.

22 Reeves, just off Coppin Street, was marketed by the Biggin &amp; Scott agency as having a converted warehouse feel with a rustic industrial flare.&nbsp;

There are high 5m ceilings in the lounge area, plus exposed steel beams under its curved roof.

Melbourne vendors secured a 50 percent clearance rate ver the past week according to CoreLogic.

It was the priciest apartment sale across the nation over the past week.

There was a 61.8 percent success rate from the 345 apartment and townhouses results &nbsp;across the nation.

The national median sale price was calculated at $810,000 with Melbourne at $702,500.

Melbourne vendors had 249 auction offerings with 65 results yet to be advised.

Sydney vendors secured an 81.5 percent success rate.

Melbourne's top advised sale was 7/120 Queens Parade, Fitzroy North at $1.8 million which came mid-last week

Inner city Melbourne warehouse townhouses popular with buyers 

Manly clocked up the biggest weekend apartment sale in New South Wales.

The three-bedroom Manly penthouse sold for $6.6 million just days before its scheduled weekend auction.

It was the priciest apartment sale across the nation over the past week.

There was a 61.8 percent success rate from the 345 apartment and townhouses results over the weekend, according to CoreLogic.

The median sale price was calculated at $810,000.&nbsp;

Vendors had 448 offerings with 103 results yet to be advised.

Sydney vendors secured an 81.5 percent success rate while Melbourne vendors secured a 50 percent clearance rate.

The whole floor Manly apartment was bought by a young IT entrepreneur, he told The Manly Daily.

It was set on the 1916 Montreaux complex at 20/7 Commonwealth Parade opposite Manly Cove.

It had a guide of $4.5 million to $4.9 million from Adam Moore, of Stone Real Estate Manly.

It came with an open car space

Melbourne&#39;s top advised sale was 7/120 Queens Parade, Fitzroy North at $1.8 million which came mid-last week.

The three-bedroom, two-bathroom townhouse was architecturally designed in the reinvention of the Selotta Shoe Factory.

The price guide for the 1934 three level space had been $1.8 million to $1.9 million.

It last sold at $975,000 in 2007.

The adjoining 6/120 Queens Parade townhouse, also with three bedrooms, fetched $1.8 million in April. It first sold at $406,000 in 1998.

The original factory designed is credited to architect, H V Gillespie.

A Manly penthouse sold pre-auction for $6.6 million came with a price guide of $4.5 million

$6.6 million Manly apartment sale tops weekend auction results

Meriton has secured a record $5.96million sale in an off-the-plan apartment amalgamation in its 180 George Parramatta project.

The buyer has purchased four apartments in the complex being developed by billionaire Harry Triguboff&rsquo;s Meriton Apartments.

It is due for completion in early 2023.

Meriton national sales director James Sialepis told News Ltd the buyer secured a combined 460 sqm floor space.

[smartcode_project:default project_id=8590 project_image_fid=71714]

&ldquo;To break the record for the highest priced apartment sold in the entire western Sydney is a phenomenal result,&rdquo; he said.

The buyer will be able to customize their layout within the 67 storey glass tower.

There were 522 apartments approved prior to amalgamations in 180 George.

One of the nearby popular off the plan projects in Parramatta is&nbsp;Imperial&nbsp;by Merhis as was the completed The Galleria project at 9 Hassall Street by Nucorp.

Meriton has negotiated a record off-the-plan amalgamated apartment price in its 180 George Parramatta complex

Meriton secure 180 George Parramatta record apartment sale

The Brisbane billionaire John Van Lieshout has paid $5.7 million for a Newstead apartment development site.

The 1821sq m site at 14 Maud Street has approval for a nine storey residential tower with 52 apartments.&nbsp;

It will be integrated with the old Federal Boot Factory on its heritage 1012 sqm lot, with the retention and adaptive reuse of the Goldsworthy and Perkins Boot Factory heritage building into ground floor retail.

Known as Federal Residences, the development was designed by Joe Adsett Architects.

<img alt="" height="662" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/federal_2.jpg" width="1200" /> 
The plans for Federal Residences. Source: Joe Adsett Architecture

The development approval was for an upmarket boutique 2 and 3 bedroom residential apartments in a precinct popular with both young professional and downsizer markets.

The split was aroound 30 &times; two (2) bedroom apartments and 22 &times; three (3) bedroom apartments.

The application sought 89 car spaces &ndash; 79 resident spaces and 10 residential visitor spaces in four basement levels

There was bicycle parking for 77 bicycle spaces.

The application sought a residents&#39; rooftop recreation deck with a pool, lounge area, outdoor dining, lawn area, cinema projection wall and decked auditorium seating.

&quot;It was an excellent opportunity to capitalise on a market with diminishing forecast unit supply and located in one of Brisbane&#39;s most exciting precincts underpinned by strong fundamentals and demographics,&quot; the marketing advised.

<img alt="" height="846" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/federal_3.jpg" width="1200" /> 
The plans for Federal Residences. Source: Joe Adsett Architecture

The Ray White marketing campaign generated 70 buyer inquiries from local and interstate developers and investors.

The site was previously sold for $4.18 million in July 2017 by Aspire HP which then secured the development approval.

It had been tightly held having sold at $135,000 in 1981.

Currently in the market in Newstead is Bide, the luxury owner-occupier development from Dibcorp.

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The Newstead residential development site has approval for a nine storey residential tower

John Van Lieshout buys Newstead Federal Boot Factory apartment development site

Property developer Mirvac has reported the highest number of residential sales since fiscal 2016.

It saw an 83% increase in residential sales, the strongest in five years.

It has $1.2 billion in residential pre-sales.

&quot;Momentum in the market and high-quality apartment releases has driven a 25% increase in pre-sales to $1.2bn, from $971m, in FY20,&quot; the Mirvac updated noted adding that master planned community pre-sales had increased 100% from FY20.

Over 98% of exchanges in FY21 were domestic buyers with continued demand from owner-occupiers.

Mirvac saw 2,526 residential settlements over the past year, up on its prior guidance of 2,200. Just over 1,000 were in Victoria.

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The annual report highlighted 71 percent of its Quay Waterfront project in Brisbane had been pre-sold.

Mirvac, which received over 20 awards recognising its design and build quality, advised there had been a 70% reduction in completed unsold apartment stock and completion of projects at Marrick &amp; Co, NSW, Crest, NSW and Leighton Beach, WA.

&ldquo;We see very strong continued momentum in the residential property market,&rdquo; Lloyd-Hurwitz said as Mirvac posted an annual statutory profit jump of 61 per cent to $901 million and its operating profit slip by 9 per cent to $550 million.

&ldquo;The group has shown great resilience in the face of the ongoing uncertainty and disruption caused by the pandemic and we are currently well placed to continue to build towards recovery in fiscal 2022,&rdquo; she said.

But Mirvac chief executive Susan Lloyd-Hurwitz said the company was bracing for market conditions to moderate.

[smartcode_project:default project_id=100811 project_image_fid=162900]

Mirvac has extended its development pipeline to about $28 billion, across its traditional mixed use, office, industrial and residential markets.

It intends to build to rent projects pipeline to about $1.4bn across four projects.

Build to Rent currently represents 3% of Mirvac&rsquo;s property portfolio, with its flagship build to rent property, LIV Indigo, Sydney Olympic Park 80 percent leased after opening in September 2020.

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&ldquo;Our full year guidance is based on the assumption that business conditions will normalise in the last quarter of calendar 2021 when vaccination targets are expected to be met,&rdquo; Ms Lloyd-Hurwitz said.

&ldquo;While fiscal 2021 has been characterised by extended lockdowns and restrictions, vaccine supply is improving and vaccine coverage is increasing daily. I am confident this, along with other mechanisms such as a vaccine passport and Rapid Antigen Testing, will enable Australia to open up again safely, providing a pathway towards recovery in fiscal 2022,&rdquo; she said.

The report noted apartment settlement defaults stood at 2.7% &quot;due to market factors exacerbated by COVID-19 impacts, however it was less than 1% excluding Pavilions, Sydney settlements.

Mirvac saw very strong continued momentum in the residential property market

Mirvac secures 3,375 residential sales, its highest level since 2016

A high density residential development site in Brisbane’s south has been listed for sale.

The 4,738sq m parcel comes with a price guide in excess of $10 million.

Offers close September 8.

It is situated around 500 metres from Queensland’s third largest shopping centre, Westfield Garden City, around 14 kilometres from the Brisbane CBD.

The marketing campaign will target local and interstate developers looking to take advantage of Brisbane’s net migration.

“Large-scale development sites in this prime location rarely become available to the market given properties are tightly held within the Upper Mount Gravatt region,” Christian Sandstrom of Knight Frank said.

The properties are owned by multiple owners, consisting of eight separate lots.

“Under the local Upper Mount Gravatt Corridor plan the amalgamated site is zoned HDR1 High Density Residential, allowing future development up to eight storeys,” he said.

“Future development will suit a wide range of uses including residential apartments, student living - given its proximity to Griffith University campuses, retirement living and a build-to-rent project.

“A development application has previously been submitted, consisting of 220 units over two eight-level buildings.


The Upper Mt Gravatt site is around 14 kilometres from the Brisbane CBD

Eight storey Mt Gravatt apartment development site listed

Corporate Keys, the leading provider of corporate furnished housing, has acquired the Southbank Apartments brand. 

Southbank Apartments is one of its biggest providers in corporate housing market in the Melbourne riverside suburb, including Freshwater Place and Eureka Tower. 

Southbank Apartments was founded in 2005 and specialises in short and long stays for the corporate and leisure market.

Graeme Dwyer, Southbank's current general manager will join Corporate Apartments division.

Corporate Keys, set up in 2005, currently manages more than 500 serviced apartments across Australia and New Zealand. 

In the last 12 months Corporate Keys booked 627,000 room nights for clients.

The acquisition comes at a time of a challenging market for the serviced apartment and corporate housing.

Corporate Keys portfolio of accommodation brands includes The Hamptons Apartments and Manhattan Apartments, specialist hospital accommodation provider, Hospital Stays as well as Corporate Keys

International, the group’s travel management brand accessing the inventory of third party operators of the likes of Accor and Quest.

Corporate Keys currently manages more than 500 serviced apartments across Australia and New Zealand. 

From October, Southbank's latest accomodation provider is set to be Australia's first Oakwood Premier property at 202 Normanby Road, developed by the team at Yarra Hotel Group as a new 40-storey building that has been in development since 2017. 

The building will have 392 rooms with 132 designed for transient guests on short stays and the remaining 260 apartments are made up of studios, one and two-bedroom apartments for mid to long-term guests that range from 35 to 85 square metres in size.

Corporate Keys has announced its acquisition of the Southbank Apartments brand

Southbank Apartments corporate accomodation business sold to Corporate Keys 

New home sales fell by 20.5 per cent in July, with declines across the major states to 4,646 houses.

HIA economist Tom Devitt advised sales for the three months to the end of July were only marginally lower than at the same time in 2020 when the first positive impacts of HomeBuilder were emerging. 

Sales for the three months also remain 4.3 per cent higher than at the same time in 2018, which was a relatively solid year for home building.
 
“This solid level of sales following the end of HomeBuilder suggests that demand for detached housing remains robust despite the poor result in July," Devitt said. 
 
“Low interest rates and changes in consumer preference for location of housing have been the major drivers for activity following the end of HomeBuilder.
 
“Sales data over coming months will indicate if recent lockdowns have impaired consumer confidence or if this July result is an anomaly.
 
“There is now a record number of homes under construction across the country,” added Mr Devitt.
 
Western Australia was the only state to see an increase in new home sales for the month of July, up by 8.5 per cent. 

There were declines in New South Wales (-14.8 per cent), Queensland (-25.4 per cent), South Australia (-29.4 per cent) and Victoria (-32.2 per cent).
 
States performed much better when comparing the last three months to the same period in 2018. 

Western Australia was up by 34 per cent, followed by New South Wales (+12.5 per cent), Victoria (+10.9 per cent), South Australia (-11.5 per cent) and Queensland (-30.2 per cent).

“This month's sample captures 23 per cent of Australia's new detached home building sector,” the update noted.

No data was published by the HIA for multi-unit sales. 

Western Australia was the only state to see an increase in new home sales with July up by 8.5 per cent

New home sales dip in July across most states

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.

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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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