The new Green Square community is closer to getting its planned new primary school and community facility.

The design has been unveiled by the NSW Government and the City of Sydney.

The new primary school will meet enrolment demands in one of Australia&#39;s fastest growing neighbourhoods.&nbsp;

The project will include additional facilities designed for both school and community use.

Architect BVN&rsquo;s competition-winning design integrates school and community spaces for both day and night use and will be built on the former South Sydney Hospital site on Joynton Avenue. 
&nbsp; 
[smartcode_project:default project_id=30049 project_image_fid=162873]

Minister for Education Sarah Mitchell said the winning design from BVN would &quot;create a fantastic place for children to learn.&rdquo; 
&nbsp; 
The NSW Government will fund and staff the project with a contribution from the City of Sydney. 
&nbsp; 
The winning design was commended for its response to the surrounding local area, its clever multi-purpose sports court, smart educational approach and its consideration of the environment.

City of Sydney Lord Mayor Clover Moore said the City will contribute $25 million to the &quot;revolutionary school to provide much-needed community facilities that will be activated day and night for the whole community to use.&quot;

[smartcode_project:default project_id=100811 project_image_fid=162886]

&ldquo;Close to the aquatic center and library, this school will be an important addition to the area&rsquo;s educational, social and cultural life,&rdquo; the Lord Mayor said.

&ldquo;This new school will sit at the heart of the growing Green Square community and set a new benchmark for urban development,&quot; she added.

The latest apartment project being marketed is Green Square By Mirvac with Portman House at 77-93 Portman Street, Zetland.

[smartcode_project_cta: project_id=30049]

&nbsp;

The new school will sit at the heart of the growing Green Square community which is setting a new benchmark for urban development, Mayor Clover Moore advised
.

jchancellor-FAypfDUnLy

New primary school proposed for Sydney's Green Square

The total number of dwelling starts rose by 0.2 per cent to a 2&frac12;-year high of 51,662 homes in the March quarter, according to the ABS.

Starts are up 13.1 per cent on the year.&nbsp;

Total house starts rose by 5.9 per cent to a record high (records since September 1965) of 36,395 houses.

But total apartment starts fell by 11.4 per cent to an 8&frac12;-year low of 15,083 units.

The value of residential and commercial building work in the pipeline stood at $92.8 billion at the end of March, up by 1.3 per cent on a year ago.

[smartcode_project:default project_id=29048 project_image_fid=151676]

This was below the record-high of $99.5 billion at the end of June 2018, CommSec economist Ryan Felsman advised.&nbsp;

The value of residential work in the pipeline hit record highs in Tasmania ($729.8 million) and South Australia ($3.1 billion) in the March quarter with Western Australia at 5-year highs ($4.4 billion).&nbsp;

Across Australia, 193,581 homes were being built at the end of March, down from a record 229,351 homes in March 2018.

Work started on 188,607 new dwellings over the 12 months to March, up by 7 per cent on the year.&nbsp;

Starts fell from a record high of 234,440 dwellings in the year to June 2016.

[smartcode_project:default project_id=95099 project_image_fid=169112]

Across states and territories, starts in the March quarter: NSW (up 9.2 per cent); Victoria (down 15.1 per cent); Queensland (down 5.0 per cent); South Australia (up 16.1 per cent); Western Australia (up 18.7 per cent); Tasmania (up 14.7 per cent); Northern Territory (down 38.8 per cent); and the ACT (up 42.6 per cent).&nbsp;

In the March quarter, the value of residential and commercial building work done rose by 3.0 per cent to be down 1.1 per cent on a year ago, according to the ABS.

New residential work lifted 4.8 per cent, alterations &amp; additions rose 11.4 per cent and commercial building fell by 1.4 per cent.

Across Australia, 193,581 homes were being built at the end of March, down from a record 229,351 homes in March 2018.

New apartment starts shrink to 8 year low: ABS

Construction has been ramped up on stage one of the shopping centre precinct within the Mernda Town Centre project that spans 27 hectares in Melbourne&#39;s northern fringe.

The entire project will include retail, commercial, entertainment and residential offerings, delivered in multiple stages over the next five years.

The directors of investment manager Occasio Projects announced their acquisition of the $500m mixed-use Mernda development from Woolworths, which will remain as the key anchor tenant along with 35 speciality retail shops.

The site approval from Whittlesea Council came in 2019.

The broader Mernda Town Centre project spans 27 hectares and will include retail, commercial, entertainment and residential offerings. It will be delivered in multiple stages over the next five years and provide more than 1,000 ongoing employment opportunities.

[smartcode_project:default project_id=95340 project_image_fid=160801] 
 
Whittlesea Council is a foundation stakeholder in the Mernda Town Centre, with future plans for a learning and well-being offering in addition to restoring the historic Mayfield Farm.

Mayfield Farm had been set to be bulldozed, like the nearby neglected Black Braes Farm, but was saved after a campaign by locals. The neighbouring Carome Homestead, owned by Parks Victoria and managed by Working Heritage, is a popular destination for tourists.

The development precinct has a long history, so Occasio Projects are intend on fast-tracking its delivery with the currently partially complete store due to open mid-next year. 
&nbsp; 
The project now has strong financial backing from the three shareholders of Occasio Projects being Ray Zelouf, the founder of Occasio Projects; Dorman Capital, the family office of the co-founder of Regis Healthcare along with Jensz Investment Company, owned by Craig Jensz, the founder of Lion Advisory.

[smartcode_project:default project_id=99962 project_image_fid=160810]

It was 2013 when Woolworths bought the site from Becton for about $31 million.

The Mernda Town Centre site was originally proposed by the failed Fincorp property group.

The Whittlesea urban area includes Mill Park, South Morang and its rural north includes Beveridge; Donnybrook; Eden Park, Woodstock and Wollert where Cedar Woods has its Mason Quarter project.

Wollert has three train stations within 20 minutes.

Whittlesea Council is a foundation stakeholder in the Mernda Town Centre project

Construction ramped up on Mernda master-planned suburb 

A St Kilda island site spanning 1,370sqm has been bought by a local apartment developer for $7.9 million.

As the suburb continues along the regeneration path, Fitzroys&rsquo; Mark Talbot and Shawn Luo, together with Danny Clark and Michael Gross of Gross Waddell ICR, sold the property at 344-360 St Kilda Road via a June expressions of interest campaign.

It was listed by the vendor who had accumulated the site at the corner of Pakington Street, opposite the Queens&#39; Arms Hotel apartment complex.

The initial 756 sqm acquisition was the corner block in 2012 at $2.7 million. There was then a $3.5 million acquisition in 2016.

The site comes with a permit for a premium six-storey mixed-use development, with 44 apartments and a net saleable area of 4,743sqm.

The local developer buyer was attracted to the project which has residences designed for the growing downsizer and owner occupier segments of the market.&nbsp;

The site is on one of Melbourne&rsquo;s main inner-city arterials serviced by multiple tram routes at its doorstep, walking and cycling trails and Balaclava train station.

[smartcode_project:default project_id=29048 project_image_fid=151675]

The site currently comprises a single-level showroom and office tenanted by Tradelink and SMR Advertising.

Cordell Connect indicated 344, 350 and 352-360 St Kilda Road had an estimated value of $15 million on construction.

It traded on a sharp 2.4% yield.&nbsp;

&ldquo;The market recognised this site as the largest development opportunity in the suburb for some time, with nearly 200 enquiries received from enthusiastic parties,&rdquo; Talbot said.

&quot;There&rsquo;s a host of residential, retail and commercial projects that promise to bring a new vibrancy to a famous Melbourne location.&rdquo;

[smartcode_project:default project_id=89720 project_image_fid=147514]

&ldquo;St Kilda&rsquo;s lifestyle attributes makes it uniquely attractive to a number of demographics, and its catchment comprises established, affluent and transient cohorts.&nbsp;

Last month Colliers sold a development site, zoned commercial 1 zoned, at 102-112 St Kilda Road at an undisclosed price.

The offering was six adjoining properties totalling 827 sqm.

It had been listed unsuccessfully in 2018 with $6 million hopes for all six, having been acquired by the vendors over time, with CoreLogic records showing the last separate sale had been No. 102 for $900,000 in 2012.

Gross Waddell ICR currently has another high-profile St Kilda Road corner freehold for sale with a recently approved permit for a mixed use development. 
&nbsp; 
It is at 46-52 St Kilda Road.

The developer had sought an eight-storey building comprising ground level retail, 26 dwellings, 44 car parking spaces, 33 car stacker parking spaces and 31 on site and two on-street bicycle spaces in 2020, and then secured permission for an eight storey mixed use development consisting of 2,902 sqm* of NSA

The plans offer oversized apartments with a blended average of 116 sqm* of NSA per apartment.

 
&nbsp;

The local developer intends to utilise the site’s existing permit for a premium six-storey mixed-use development

Local developer pays $7.9 million for St Kilda residential apartment site

The NSW Government has ruled that residential tenants will have greater protection during the escalating lockdown with a targeted eviction moratorium.  

Additionally residential landlords who decrease rent for impacted tenants can apply for a grant of up to $1,500 or land tax reductions depending on their circumstances.
 
Commercial and retail landlords will need to attempt mediation before recovering a security bond, or locking out or evicting a commercial or retail tenant impacted by the Public Health Order.

Commercial, retail and residential landlords liable for land tax will be eligible for a land tax concession where they reduce the rent of their tenant.

The temporary tenancy moratorium introduced in 2020 to restrict when landlords could evict tenants due to rental arrears as a result of COVID-19 ended on 26 March 2021.

From 27 March 2021, a six-month transitional period had begun.

The six-month transitional period saw COVID-19 impacted tenants who accrued rent arrears between 15 April 2020 and 26 March 2021 not being subject to the standard tenancy eviction rules for those arrears.

Tenants and landlords were being assisted by Fair Trading to negotiate repayment plans for arrears accrued during the moratorium period. Under the transition landlords were only be able to evict these tenants for these arrears if they have first attempted in good faith to negotiate a repayment plan. 

It also has to be fair and reasonable to evict.

If a landlord and tenant have agreed to a repayment plan, the tenant cannot be evicted unless they have failed to meet agreed repayments on two consecutive occasions.

COVID-19 impacted tenants are also permanently protected from being listed on tenancy databases for arrears accrued during the moratorium period.

Landlords were able to terminate any tenant under standard provisions for arrears accrued after the moratorium measures ended on 26 March 2021.

The NSW Government has announced the new support for landlords included up to $210 million in grants to eligible landlords.The land tax relief will be equal to the value of rent reductions provided by landlords to financially distressed tenants, up to 100 per cent of the 2021 land tax year liability.
 
Minister for Better Regulation Kevin Anderson said the short-term tenancy and landlords support package will provide renters and landlords with immediate assistance during the COVID-19 lockdown.
 
“These measures hinge on landlords and tenants working together through this challenging period and we encourage both parties to enter negotiations in good faith.
  
For more information visit: https://www.fairtrading.nsw.gov.au/

The latest eviction measures were announced by the NSW Government amid an economic support package worth billions of dollars aimed at helping businesses and people right across the state fight through the current COVID-19 lockdown.
 
The commitment will now be up to $5.1 billion, including more than $1 billion from the Commonwealth as part of a business and employee support program.
 
The business grants program announced two weeks ago has been expanded, with grants between $7,500 and $15,000 available to eligible businesses with annual wages up to $10 million. 

A new grant program has also been introduced for smaller micro businesses with turnover between $30,000 and $75,000.



Residential landlords who decrease rent for impacted tenants can apply for a grant 

Sydney apartment tenants secure eviction moratorium in lockdown measures

The Lewis Land Group are providing its staff of 650 with two days paid vaccination leave.

The aim was to encourage their whole team to get the jab as soon as possible, its chief executive, Matthew McCarron said.

&quot;We know that the only pathway out of the dangerous and disruptive cycle of lockdown is via vaccination.&nbsp;

&quot;We also believe that it&rsquo;s incumbent on all businesses &ndash; big and small &ndash; to support the acceleration and advancement of this effort.&quot;

Lewis Land have also offered sites as community vaccination hubs.

Lewis Land Group is Australia&#39;s oldest private property developer having been founded by Bernard Lewis in 1957.

[smartcode_project:default project_id=32227 project_image_fid=93945]

It has since developed more than 20,000 residential lots including land at Endeavour Hills in Melbourne and Campbelltown in Sydney.

In the 1980s it developed waterfront canal and inland island developments such as Paradise Point Keys, Huntington Harbour, Key Biscayne, Grand Canal, Biggera Waters and Runaway Islands.&nbsp;

&quot;The crown of these was The Sovereign Islands, followed by Ephraim Island,&quot; their website advises.

Its current major project is Sovereign Hills is a mixed-use master planned community in Port Macquarie, which will have 2,400 lots plus a 25,000 sqm town centre with retail, commercial and leisure space, schooling and childcare, recreational facilities, and parklands.

The display village at Sovereign Hills was newest opened last April by Minister for Housing Michael Sukkar with 14 builders and 21 homes, the largest village between Newcastle and the Gold Coast.&nbsp;

Lewis Land Group are providing all 650 staff with two days paid vaccination leave to encourage their whole team to get the jab as soon as possible

Lewis Land Group lead property industry with Covid vaccination leave initiative 

The national residential rental vacancy rate fell to 1.7% June down from 1.8% in the month prior, reflecting the lowest vacancy rate at the national level since May 2011.&nbsp;

Vacancy rates continue to fall for Sydney, Melbourne, Adelaide and Hobart, while some regional locations recorded a moderate rise in vacancies. 
&nbsp; 
The total number of vacancies Australia-wide now stands at 60,457 residential properties, down from 62,144 in May.&nbsp;

Melbourne&rsquo;s vacancy rate fell to 3.5% in June from 3.7% in May, while in Sydney vacancy rates dropped to 2.8% from 2.9%.&nbsp;

[smartcode_project:default project_id=3459 project_image_fid=147569]

SQM calculated vacancy rates fell again within the Melbourne CBD to 5.8%.

It also fell in the Sydney CBD to 5.6%.

Just a month prior the CBD vacancy rates sat at 8% in Melbourne, and in the Sydney CBD at 6.8%.

[smartcode_project:default project_id=7758 project_image_fid=79424]

Both CBD were seeing &quot;a return towards more-longer term levels,&quot; according to SQM&#39;s Louis Christopher.

The &nbsp;Melbourne CBD vacancy rates was at 8.3% in April.

Other capital city results saw Brisbane at at 1.3%.

In Adelaide, Canberra and Hobart, the June vacancy rate remained below 1%, while Perth (0.9%) and Darwin (0.4%) remained constant.&nbsp;

Darwin has been positively affected by Covid-19, as low vacancy rates continue to boost rents.&nbsp;

Melbourne’s June vacancy rate fell to 3.5% from 3.7% in May, while in Sydney vacancy rates dropped to 2.8% from 2.9%

Vacancy rates in recovery for Melbourne CBD landlord investors: SQM

New homes sales jumped around 15 per cent in June, according to the HIA New Home Sales report.

The data comes from a survey of the largest volume home builders in the five largest states.

Private new detached home sales rose by 14.8 per cent in June to 5,841.&nbsp;

Over the year to June, sales were 44.9 per cent higher than the previous year. 
&nbsp; 
&ldquo;The strength of new home sales nationally suggests that there will be a significant number of new homes entering the pipeline post HomeBuilder which will ensure activity remains elevated into 2022,&rdquo; HIA economist Angela Lillicrap said.

[smartcode_project:default project_id=99962 project_image_fid=160810]&nbsp;

While sales in the June 2021 quarter are below the levels experienced during the nine months of the HomeBuilder program they are stronger than the same quarter in 2019 and on par with the June 2018 quarter, which was a strong year for detached home building. 
&nbsp; 
&ldquo;Record low interest rates and confidence in the housing market are driving demand from owner occupiers. 
&nbsp; 
&ldquo;Strong house price growth is also a contributing factor,&quot; she said.

&quot;Households enter into a contract to build with the expectation that house prices will continue to grow and the property will be worth more when it is completed,&quot; she said. 
&nbsp; 
The strength in new home sales is not occurring evenly across the states. 
&nbsp; 
&ldquo;New home sales in New South Wales and Western Australia were over a third higher in the June 2021 quarter compared to the same time in 2019.&nbsp;

[smartcode_project:default project_id=95340 project_image_fid=160801]

Sales in Queensland were 4.4 per cent higher compared to the June 2019 quarter, while Victoria is flat (down by 0.1 per cent).&nbsp;

South Australia had the strongest response to HomeBuilder, but sales since the end of the program remain lower by 14.4 per cent compared to the June 2019 quarter. 
&nbsp; 
&ldquo;This strong volume of sales will continue to pull the national economy forward,&rdquo; concluded Ms Lillicrap.

No data was published by the HIA for multi-unit sales.&nbsp;

The HIA publish an annual Housing 100 Report which lists the nation&rsquo;s top residential builders.

Metricon Homes top the last published list with a total of 4,534 new home starts across Victoria, Queensland, New South Wales and South Australia.&nbsp;

Of these starts, 4,303 were detached houses and 170 were semi-detached dwellings,&rdquo; added Mr Reardon.

The second most active builder in 2019/20 &ndash; and the nation&rsquo;s largest apartment builder &ndash; Hutchies had 3,820 housing starts, followed by Multiplex with 3,486 starts.

Despite Covid, the 28th annual HIA&ndash;Colorbond&reg; steel Housing 100 Report 2019/20 survey showed that the number of new home starts by the nation&rsquo;s largest 100 builders increased from 67,694 to 69,459.

The strength in new home sales is not occurring evenly across the states

House and land package buyers expect to be ahead pricewise on construction completion:  HIA

Macroprudential measures are likely to feature in the property market cycle, according to Pete Wargent, co-founder of BuyersBuyers.com.au. 
&nbsp; 
&ldquo;Although there are a lot of variables, property investors should be aware that if activity accelerates sharply then the market regulator is quite likely to step in,&quot; the buyers&#39; agent said.

&quot;We recommend that investors prepare accordingly&rdquo; Mr Wargent said, adding the timing and extent of measures are unknown.

Wargent said investors need to be aware of the potential for changes to lending standards.

&quot;It will be substantially harder to get a loan,&quot; he said.

[smartcode_project:default project_id=3260 project_image_fid=62343] 
&nbsp; 
&quot;We know from recent history that the regulators won&rsquo;t want investor lending to run too hot, so it makes sense for investors to prepare accordingly rather than be surprised by restrictions as and when they do happen&rdquo;. 
&nbsp; 
Doron Peleg, CEO of Riskwise Property agreed that macroprudential tightening was a likelihood during the current cycle, as low mortgage rates encourage a surge in property investment. 
&nbsp; 
&ldquo;Based on our analysis and previous events (particularly the measures implemented in 2017), the likelihood that such measures will be implemented within the next 12 months is relatively high&rdquo; Mr Peleg said. 
&nbsp; 
However, Peleg pointed out that at this point of time there are only indications regarding the nature of these measures being a combination of:&nbsp; 
&nbsp; 
-changes to the &#39;floor assessment&#39; rate at the individual loan level; 
&nbsp; 
- LVR restrictions or caps at the portfolio level 
&nbsp; 
-potential debt-to-income (DTI) ratio restrictions at the portfolio level.&nbsp; 
&nbsp;&nbsp; 
&ldquo;Since recent cycles have suggested that property investor activity tends to amplify the property market cycles, it is likely that credit restrictions would significantly stymy growth, if not cause the market to stall or decline moderately&rdquo; Mr Peleg said.

[smartcode_project:default project_id=5490 project_image_fid=78497]

BuyersBuyers.com.au, an IT marketplace connecting homebuyers with buyer&rsquo;s agents, was co-founded by chief executive Doron Peleg and chief operating officer Pete Wargent.

Peter Meek, formerly managing director of Chobani holds a board advisory role.

The board announced the completion of its Series A funding round which will help the the platform&#39;s leveraging Artificial Intelligence (AI) and Machine Learning (ML).

Crevan Murphy of tech firm SafetyCulture and will assist with advisory on technology and product development.

The investment round was led by George Barnett of Atlassian.

Pete Wargent of BuyersBuyers.com.au said the regulators won’t want investor lending to run too hot

Property investors should prepare for macroprudential measures: Pete Wargent

A two bedroom Surry Hills apartment fetched $1.555 million at its online weekend auction.

It was set on level three of the Foveaux Apartments at 301/81 Foveaux Street (pictured).&nbsp;

The apartment was designed by Adam Haddow of SJB with tailored interiors by Iain Halliday of BKH with bold colours, timber floors, floor to ceiling glass and high ceilings.

It comes with banquette dining and custom kitchen joinery with indoor-outdoor living with a Northern aspect.

It comes with a car space and basement storage in the development featuring 53 residential apartments and four retail shops.

[smartcode_project:default project_id=7363]

The apartment and balcony total 90sqm, with 110sqm including car space and storage

Its quarterly strata levies sit at $1,766.

It was sold by Dean Applegate at Laing &amp; Simmons having first sold at $1,265,000 in 2014.

It was shortly after $17.6 million development approval was given for the Legion Cabs site.

Some 44 of 53 apartments in The Foveaux sold at its September 2014 launch by former fashion boss Danny Avidan and his development partner Rafi Asouline.

They bought the 1370sq m site in 2013 at a heated auction for $18 million.

Unit prices in the five-level building start from $700,000 for a one bedroom, $995,000 for a two-bedroom and $1.5 million for a three-bedder.

It was expected to be completed in 2016, but settlements were in May 2017.

Sydney saw 172 weekend auction apartment results with a 74 percent success rate for its apartments and townhouse listings.

Nationally there were 468 results across all the capital cities with a 68 percent success rate and a $750,000 apartment median price.

The two bedroom apartment is positioned on level three of the Foveaux Apartments designed by Adam Haddow of SJB 

SJB-designed Surry Hills offering tops Sydney weekend apartment sales

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

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

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

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

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

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

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