The toughening of COVID-19 restrictions in Greater Sydney will cause massive financial loss for apartment construction companies in spite of state and federal support, industry groups say.

The forecast came after NSW Premier Gladys Berejiklian announced that as of 11.59pm 18th July that all construction would pause until July 30.

Business NSW chief executive Daniel Hunter advised he supported the need for a tougher health response but the economic impawould be immense.

The shutdown of the construction sector alone would trigger a loss of $800 million to $1 billion per week, he advised.

Hunter told the Ray Hadley 2GB program that NSW needed to implement the Victorian style measures which kept construction sites operating at reduced levels (25%) during its extended shutdown last year.

[smartcode_project:default project_id=7758 project_image_fid=150460]

The current Victorian lockdown sees construction continuing for unoccupied premises and new builds. &nbsp;Construction and renovations, including pool installation, painting, and landscaping, must not proceed at occupied Melbourne premises, excepting emergency repairs and maintenance.

Senior government sources had told Hadley that a review of the ban was imminent, but Hadley later advised that he&#39;d gleaned the decision would not be reversed.

Construction workers, other than those living within the hot spot municipalities, can continue to head into regional NSW for work.

[smartcode_project:default project_id=32227 project_image_fid=93954]

Over the weekend Business Council of Australia chief executive Jennifer Westacott called on the NSW government &ldquo;to find a way through&rdquo; the ban on the construction industry.

&ldquo;The shutdown of construction will have a massive economic impact because this is a sector with a long tail through the economy,&rdquo; said Ms Westacott.&nbsp;

&ldquo;We have to find a way through on construction as a matter of urgency because there are big financial and health and safety impacts that flow from a sector-wide pause.

&ldquo;Big projects aren&rsquo;t a tap that can simply be turned on or off, so we need to start planning now to reopen.&rdquo;

Premier Gladys Berejiklian announced that as of 11.59pm Sunday all construction would pause until July 30.

jchancellor-FAypfDUnLy

NSW Government instructs total Sydney apartment construction shutdown

A South Yarra office property with significant development potential is expected to sell for more than $4 million at upcoming auction through the Melbourne estate agency, Dawkins Occhiuto.

The 48 Wilson Street property is set to become a multi-level office, residential or mixed use development (STCA).

Grant said there had been height precedents set by a number of, predominantly residential, developments in Wilson Street of eight or nine levels, according to a preliminary planning report prepared by Pro Urban.&nbsp;

Mr Dawkins said city fringe development sites were becoming increasingly difficult to find as demand for residential and office space continued to grow.&nbsp;

The property will be auctioned August 12.

It currently comprises a single level, 304 square metre office building on a 401 square metre site with Activity Centre 1 zoning.

[smartcode_project:default project_id=3730 project_image_fid=35250]

It is currently occupied by vendor Hatched Media which is offering a 12 month, holding income, leaseback, at $160,000 per annum net.

Located within the South Yarra Activity Zone Dawkins Occhiuto directors Tim Grant and Andrew Dawkins suggest the site provides significant potential for a multi-level office or residential development (STCA).

``We expect the market response to reflect what is a very real scarcity of such opportunities, which in this case offers the additional attraction of 12 months holding income,&rsquo;&rsquo; Mr Dawkins said. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;

The property will be auctioned on Thursday, August 12 at 12pm.

South Yarra has been a hive of apartment construction with one of the most recent completions being 661 Chapel Street, that has become a landmark of South Yarra since its construction, towering over the heritage-listed Melbourne High School.

A South Yarra property is expected to sell for more than $4 million at auction through the Melbourne agency, Dawkins Occhiuto

$4 million plus hopes for South Yarra apartment development site

Australian landlords have seen the highest annual growth in dwelling rents since January 2009.

But very high rental growth is unsustainable while income growth remains subdued, CoreLogic&#39;s Eliza Owen has advised.

&ldquo;I think we can expect a similar outcome for the Australian rental market as the purchasing market.&nbsp;

&quot;Very high rental growth is unsustainable while income growth remains subdued.&nbsp;

&quot;The result will likely be more subdued growth rates in the coming quarters, especially as investor participation trends higher, delivering more rental supply,&rdquo; Ms Owen said.

[smartcode_project:default project_id=102309 project_image_fid=163984]

CoreLogic&rsquo;s Rental Review for the June 2021 quarter shows despite rental growth slowing over recent months, the latest figures take national rental rates 6.6% higher over the year.

CoreLogic&rsquo;s national rent index recorded a 2.1% rise in the three months to June 2021, down on the 3.2% rise over the March quarter.&nbsp;

National gross rental yields were recorded at 3.41% in the June quarter, down from 3.55% over the March quarter and 3.73% a year earlier, as dwelling values outperform rental growth.

Regional rents continued to outpace capital city rents, rising by 2.7% in Q2 compared to a 1.9% rise in capital city rents, both down quarter-on-quarter, the highest annual growth result on record, with the CoreLogic rental index commencing from 2005.

[smartcode_project:default project_id=6515 project_image_fid=68834]

CoreLogic&rsquo;s Head of Research Australia, Eliza Owen, says Australia has not seen rental value increases this high for over a decade.&nbsp;

&ldquo;Following subdued rental performance through much of the 2010s, the Australian rental market has seen an increase in values due to many of the same factors that have led to the current housing price upswing.

&quot;These factors include increased government stimulus through COVID-19, accumulated household savings through lockdown periods, the swift economic recovery seen as restrictions eased, and a lack of rental supply in some markets have also exacerbated rental price increases, particularly in major centres of regional Australia.

Despite the strong national and combined regional figures, the change in rents over the year ranged from 21.8% growth in Darwin, to a 1.4% decline in Melbourne.&nbsp;

[smartcode_project:default project_id=5559 project_image_fid=88241]

Canberra remains the most expensive city to rent, with Adelaide the most affordable.

&ldquo;In Sydney and Melbourne, unit rents continue to show year on year decline, at -1.1% and -6.4% respectively.

&quot;As noted in previous quarters, these cities, which have historically had the highest intake of international migrants, have seen rental demand most impacted by international border closures amid the pandemic.&nbsp;

&quot;Although demand across these unit markets remains fairly subdued, there are signs that rents may be stabilising at lower levels.

&ldquo;In fact, Sydney unit rents have begun to creep higher in recent quarters, including a 1.8% uplift in the three months to June.&nbsp;

[smartcode_project:default project_id=7758 project_image_fid=150458]

&quot;Melbourne unit rents have also started to show signs of stabilising, with values remaining flat over the quarter.&quot;

Melbourne recorded the weakest growth in rents over Q2. House rents were up 1.1%. Unit rents saw no change over the quarter, but showed a minor rise in the month of June of 0.3%.

&quot;Recent lockdown conditions across Sydney may impact rental markets where there are high concentrations of renters in affected industries, such as hospitality and tourism.&quot;

These regions include the inner city market of Sydney, which has been one of the more subdued Sydney rental markets through the pandemic.

Ms Owen says there are pockets of the rental market which remain subdued, because of the impacts COVID-19 has had on different parts of the country


Very high rental growth is unsustainable while income growth remains subdued: CoreLogic's Eliza Owen

A new Grattan Institute report recommends power be connected to apartment carparks and garages in the next decade for electric car charging.

&quot;To ensure drivers don&rsquo;t have to worry about where they can recharge their electric car, governments should require all new buildings with off-street parking to include electrical cabling to allow for an appropriate number of future vehicle chargers,&quot; the report urged.

The government should require all leased dwellings with off-street parking to have at least one electrical outlet near the car park by 2030.

It should ensure convenient, local vehicle charging is available by 2030 for all residents of homes without off-street parking.

The report noted the transport sector is responsible for nearly 20 per cent of Australia&rsquo;s emissions, and more than 60 per cent of transport emissions are from light vehicles (including the two most popular cars in Australia, the Toyota HiLux and Ford Ranger).

[smartcode_project:default project_id=5234 project_image_fid=84281]

&quot;The best way to cut transport emissions is to supercharge the switch to electric cars,&quot; it said.

The report was the first of a series of five reports Grattan will publish in the lead-up to the international climate conference in Glasgow in November, showing how Australia can build momentum towards net-zero carbon emissions by 2050.

Sales of new petrol and diesel cars should be phased out by 2035, and governments should make electric cars cheaper, to help cut carbon emissions to net zero by 2050, the progressive think-tank argues.

It suggests Australia should introduce a zero emissions standard for cars, vans and utes by 2035 or face a crisis in which governments could be forced into &ldquo;cash-for-clunkers&rdquo; style band-aids as a lack of near-term action leads to a scramble to meet more ambitious targets by mid-century.

Zero-emissions vehicles should be exempt from stamp duty, import duty, and luxury car tax, their report suggested.

Scrapping stamp duty would cut the cost of new electric vehicles in Australia by up to 6.5 per cent.

A new Grattan Institute report recommends power be connected to apartment carparks and garages in the next decade for electric car charging

Electric car charging stations should be mandated for all new apartment complexes: Grattan Institute

Brisbane&#39;s top apartment sale over the past week was $3.35 million in Newstead.

The 2302/12 Cunningham Street, Newstead apartment comes with four bedrooms and three bathooms.

The 315 sqm space showcases a bespoke Patricia Szonert design. With a North East aspect over the Brisbane river, the penthouse sits on the 23rd floor.

There is a secure express lift access to the penthouse from the four cap spaces.

&nbsp;

[smartcode_project:default project_id=102309 project_image_fid=163977]

The occupants of Haven Residences have access to rooftop amenities including pool, BBQ area, fire pit, alfresco dining areas, and yoga lawn.

It is close to Gasworks array of restaurants, cafes and shopping.

It was sold by private treaty through Phillip Rand at Bold Residential.

It first sold at $3.4 million in 2017.

The past week saw just 18 auctions with an 18.8% success rate.

Nationally there were 535 apartment offerings with a 66.8% success rate at a $718,000 median sale price.

The 2302/12 Cunningham Street, Newstead apartment comes with four bedrooms and three bathooms


$3.35 million Haven, Newstead penthouse tops Brisbane's recent sale results

A waterfront Drummoyne apartment topped Sydney&#39;s weekend lockdown online auction results.

The four bedroom, two bathroom apartment at fetched $3.95 million.

Marketed by McGrath as having house-like proportions, it last sold at $2 million in 2010.

The waterfront block of four shares a communal function room opening onto level lawn and the water.

The last sale in the complex was in 2017 at $2.5 million.

[smartcode_project:default project_id=31751]

CoreLogic calculated a preliminary 70.6% amid Sydney&#39;s 214 apartment and townhouse auction offerings.

There was a $950,000 median for the offerings, compared with $1.55 million for Sydney houses.

Nationally there were 535 apartment offerings with a 66.8% success rate at a $718,000 median sale price.

The four bedroom apartment at 3/353 Victoria Place, Drummoyne fetched $3.95 million

$3.95 million Drummoyne apartment sale tops Sydney's weekend auctions

A Brighton East townhouse was Melbourne&#39;s top weekend auction sale among the 284 apartment and townhouse listings.

The three level townhouse at 34B Bourneville Avenue, Brighton East fetched $2.6 million after auction eve negotiations.

The Buxton pre-auction price guide was $2.45 million to $2.6 million. The ANZ price predictor website REALas has given a $2,482,000 guide.

The new family residence comes with four bedrooms, three ensuites and two powder rooms.

There are three living areas with the dining room having views to the lap pool.

The basement level has a glazed showcase wine cellar, powder room and expansive entertainment zone.

[smartcode_project:default project_id=3730]

CoreLogic calculated a preliminary 66.8% weekend success rate across Melbourne amid the lockdown.

It was 70.6% amid Sydney&#39;s 214 apartment and townhouse auction offerings.

Nationally there were 535 apartment offerings with a 66.8% success rate at a $718,000 median sale price.

Brighton East has recently seen the nearby completion of the Avenue&#39;s townhome collection.

Construction was completed in March, at Skelton&#39;s 14 Gleniffer Avenue development.

The townhouse at 34B Bourneville Avenue, Brighton East fetched $2.6 million

$2.6 million Brighton East townhouse tops Melbourne's weekend auction results

Teska Carson is marketing a site with multi-unit development potential in Richmond.

Located at 335-341 Bridge Road, the property in the shadow of Richmond Town Hall currently comprises a two storey, 685 square metre, retail building.

The Commercial 1 zoned 703 square metre site has frontages of 20 metres to Bridge Road and 33 metres to Gleadell Street.&nbsp;

A preliminary scheme for a 14 level apartment building, with ground floor retail and basement parking, has been provided to potential buyers by RBi Architects.

Teska Carson agents George Takis and Larry Takis adviuse the property will be sold subject to leases to Australia Post of five years (from October 2018) over the 230 square metre Shop 1, and NAB which is on a monthly tenancy of the 455 square metre Shop 2.

The buyer will have a combined annual return of circa $285,000 while securing approvals.&nbsp;

George Takis said the property represented an &quot;outstanding&quot; development opportunity.

[smartcode_project:default project_id=5234 project_image_fid=167358]

``This is a location which has been arguably inner Melbourne&rsquo;s most popular commercial and lifestyle precinct over recent years attracting a multitude of commercial tenants and residents driving a subsequent surge in development.&nbsp;

``The precinct boasts a plethora of national and boutique retailers as well as many of the city&rsquo;s best restaurants and bars and more recently the ingress of many new boutique office tenants including a significant cohort of IT specialists.

``The prospects for ongoing demand continue to be quite positive with the COVID driven increase in office demand for city fringe locations which is a key driver of demand for apartments,&rsquo;&rsquo; Mr Takis said.

One of Bridge Street&#39;s prominent developments is Richmond Quarter, a mixed use development across five buildings at 261-271 Bridge Road, due for completion May 2022.

The most recent development site sale was one of Richmond&#39;s most-prominent and strategic sites, at 81 to 95 Burnley Street, Richmond, which was bought by GURNER.

[smartcode_project:default project_id=5615 project_image_fid=166290]

Larry Takis noted some of Australia&rsquo;s largest technology companies had set up in the neighbourhood which has a recognition as Melbourne&rsquo;s so called `tech hub.&rsquo;

``Richmond&rsquo;s massive influx of office tenants, notably of the IT variety, has been growing side by side with a who&rsquo;s who of Australian furniture designers, retailers and new residential projects.

``With Epworth Private Hospital and all the adjoining amenities and proposed construction projects in close proximity, Bridge Road retains its mantle as a premier city-fringe boulevard,&rsquo;&rsquo; Mr Takis said.

Over at Swan Street, the TWO51 on Swan, the Blueprint Projects development designed by Watson Young Architects, is nearing completion.

A 14 level apartment building, with ground floor retail and basement parking, has been mooted for the Richmond development site 

14 level Richmond apartment development site listed

A 13-storey Coffs Harbour apartment tower has been approved by the Northern Region Planning Panel.&nbsp;

It will include 95 apartments, above seven retail spaces.

The $44 million high-rise is set in the heart of the CBD.

The sales suite will shortly be opened by the local development company C.ex Coffs.

[smartcode_project:default project_id=6515 project_image_fid=68832]

John Rafferty, the CEO of the C.ex Group, will demolish City Boulevard and the adjoining Dollars &amp; Sense premises, &nbsp;just opposite the C.ex Club.

It&rsquo;s anticipated the project has a January 2024 completion date.

The property developer group plays a big role in the town, highlighted by C.ex Stadium which recently hosted Coffs Harbour&rsquo;s first ever NRL match with the Sharks in a 38&ndash;10 win over the Titans.

Other major developments in the pipeline including Gowings Brothers who own the jetty block on the corner of Harbour Drive and Hood Street, where the Forestry headquarters building was once located.

 
&nbsp;

A $44m high-rise proposed by the C.ex Group has been approved by the Northern Region Planning Panel

$44 million Coffs Harbour apartment tower gets approval

Stockland has announced it has further bolstered its residential pipeline in Victoria with the purchase of Wattle Park, Tarneit for $82 million.

Stockland expect to build around 800 new homes in a new masterplanned community.

Stockland will commence development, marketing and sales following settlement once the necessary planning permits are granted. 

Initial site works are expected to commence in 2022.

The 84 hectare site is located within the western growth corridor some 30 kilometres west of Melbourne’s CBD.

The 85-87 Sewells Road holding is in the City of Wyndham.

Wattle Park Tarneit is close to Stockland’s recently acquired community, Grand Central.

It is approved for development under the Victorian Planning Authority’s Riverdale Precinct Structure Plan.

Stockland Communities CEO Andrew Whitson said their acquisition aligned with its strategy to re-stock its residential pipeline in corridors with strong demand fundamentals.

“We expect the Melbourne greenfield market to outperform over the next 12 months given the extended lockdown has subdued growth over the past year,” said Mr Whitson.

Stockland’s general manager of residential for Victoria, Mike Davis noted Stockland has over $2.7 billion invested in Victoria including communities in Melbourne’s west including Mount Atkinson and Grandview in Truganina, which are now home to more than 1,300 residents.

The Wattle Park site includes views of the Werribee River.

Around 26 hectares of land will be set aside for conservation space.

Stockland has further bolstered its residential pipeline in Victoria with the purchase of Wattle Park for $82 million

800 homes set after Stockland buys $82 million Wattle Park, Tarneit housing site

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

Joel Robinson

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

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

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

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

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News