From Tuesday 13 July 2021 you must wear a fitted face mask when you are in an indoor area of common property in a Sydney residential apartment building.

It covers strata titled, community titled and company titled complex.

Residents do not need to wear a mask inside their apartment.

It comes as a block of 29 apartments in Sydney's east has seen a covid breakout within five apartments in the complex.

The common areas where you must wear a mask include: 

a shared foyer or lobby of an apartment block; the lifts, stairwells and corridors and shared laundry facilities.

Masks must be worn by anyone entering including residents and visitors, building managers, concierge staff and cleaners.

Masks must also be worn by people providing goods and services including tradespeople and contractors along with people delivering food, mail and parcels. 

From Tuesday 13 July 2021 you must wear a fitted face mask when you are in an indoor area of common property in a Sydney residential building 

jchancellor-FAypfDUnLy

Masks compulsory from July 13 on Sydney apartment common property

A freestanding townhouse at McKinnon in Melbourne&#39;s south east was the top weekend auction listing.

There was a pre-auction $2.16 million sale of the four bedroom, three bathroom townhouse at 33 Windsor Avenue (pictured) through Buxton.

It was snapped up in just 15 days, forcing would-be buyers into a hasty decision as to whether to compete for the offering which had been listed with $2 million to $2,075,000 price guidance.&nbsp;

The next priciest sale was $1,951,000 for a beachfront townhouse at 6A Wallum Road, Edithvale which came with a $1.85 million to $1.95 million price guide through Buxton. It had traded at $1.2 million in 2010.

The McKinnon sale offering marketed the home as &quot;in the heart of the McKinnon College zone and within a walk of McKinnon&rsquo;s latte strip and station.&quot;

<a href="/developments/melbourne-vic?source_news_article_id=105811&amp;ref=news_body_link"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melb_cbd_tile_2.jpg" style="width: 720px; height: 480px;" /></a>

The townhouse was designed by Pink Architecture and constructed by boutique builders, PMC Group.&nbsp;

It had four bedrooms plus home-office along with 3.5 bathrooms.

Its first-floor master-domain came with dual-vanity ensuite.

The suburbs sees the MCKN apartment project nearing its late 2021 completion.

It too is in the McKinnon Secondary Zone.

[smartcode_project:default project_id=4939]

DealCorp&#39;s MCKN has five levels with 41 apartments and a streetside cafe below, with a design by Ritz &amp; Ghougassian.

Prices of available two bedroom apartments start at $755,000.

The Chadstone and Southland Shopping Centres are a 10 minute drive.

Melbourne auction vendors secured a 66 percent success rate from the 264 results of its apartment and townhouse listings.

Melbourne&#39;s prior weekend saw 285 results with a steady 66 percent success rate with a $670,000 median apartment price with the top townhouse sale being a four bedroom offering at 199A Beach Rd, Mordialloc which fetched $2.35 million.

Sydney saw 172 results with a 74 percent success rate.

Nationally there were 468 results across all the capital cities with a 68 percent success rate and a $750,000 median price.

The McKinnon townhouse fetched $2.16 million

McKinnon tops weekend auction results

Auction results across Sydney and Melbourne have remained resilient in lockdown, particularly circuit-breaker lockdowns, a report from CoreLogic advised.

It noted a larger than normal number of auctions are typically withdrawn, postponed or sold prior to the auction event.&nbsp;

And that transaction activity had slowed markedly through lockdown periods.

&quot;However a &lsquo;catch up&rsquo; in home purchases has been evident as restrictions ease,&quot; CoreLogic head of research for Australia, Eliza Owen, noted.

&ldquo;It is true that demand takes a hit during lockdowns&rdquo; she said.&nbsp;

[smartcode_project:default project_id=7317 project_image_fid=79239]

More importantly property values had &quot;remained resilient through lockdown.&quot;

Owen added stability of housing market values was likely subject to extensive government stimulus and institutional support for the sector.

Owen added these influences were &quot;far less certain going forward.&quot;

Australian housing market values had a peak to trough decline of just -2.1% through 2020, before surging 12.2% through the first six months of 2021.&nbsp;

Owen concluded by noting in the event of another extended lockdown, the future of housing demand and supply becomes much less certain if that same government and institutional support is not there.

CoreLogic head of research for Australia, Eliza Owen, noted demand takes a hit during lockdowns

Latest lockdown could impact real estate resilance: RP Data's Eliza Owen

Property searches from New Zealand on realestate.com.au have surged to 363,000 monthly views.

Searches from New Zealand have increased by 35 per cent since April, in contrast to the UK and US, which have fallen 26% and 13% respectively.

Searches from China are 12 percent lower than last year and Hong Kong has dropped by 1 percent.&nbsp;

Overall overseas searches for properties to buy on realestate.com.au dipped in June by 6 per cent.

[smartcode_project:default project_id=6515 project_image_fid=68834]

&quot;NZ on the other hand, is benefitting from the trans-Tasman travel bubble, which opened on the 19th of April 2021, allowing &ldquo;quarantine free&rdquo; flights between Australia and NZ,&quot; Karen Dellow, data analyst at REA Group noted.

The most popular suburbs searched in the June quarter by overseas property seekers was topped by the Gold Coast, followed the Melbourne CBD, the Brisbane Greater Region, Sydney, and the Sunshine Coast.

<a href="/developments/gold-coast-qld?source_news_article_id=105255&amp;ref=news_body_link" target="_blank"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gold_coasttile_0.png" /></a>

The queries from New Zealand have resulted on the Sammut Group has securing New Zealand buyer interest in its recent $110 million in conditional sales in its ultra-luxury Coast project after submitting a development application only four weeks ago.

More than half of the 43 beachfront apartments have been sold, ranging from $3.5 million to $9 million, including a buyer from New Zealand.

Bensons&nbsp;Property Group&rsquo;s Gold Coast landmark development,&nbsp;Chevron One, is set to become the first luxury tower on&nbsp;Chevron Island on the Gold Coast.

The tower will rise above the new arts and cultural precinct and deliver 236 one, two and three-bedroom apartments designed by international architects&nbsp;Marchese Partners.

[smartcode_project:default project_id=6515 project_image_fid=68839]

The report noted luxury apartment developments across Australia remained in high demand with overseas property seekers.&nbsp;

Views to new developments in the past quarter have increased 11 per cent compared to last year.&nbsp;

The most viewed new developments on realestate.com.au by overseas property seekers includes:

111 Castlereagh, 111 Castlereagh Street, Sydney NSW

[smartcode_project:default project_id=7758 project_image_fid=79424]

Sirius, 2-60 Cumberland Street, The Rocks NSW 
The Aspire Residences, 299 King Street, Melbourne VIC 
443 Queen Street, 443 Queen Street, Brisbane QLD 
Aspire, 51 Latham Street, Chermside QLD

The most-viewed development, 111 Castlereagh, a luxury development overlooking Hyde Park, was most popular with property seekers in the UK and US.

&quot;The longer borders remain closed, the greater potential there is for these overseas property seekers to choose to purchase in another country,&quot; Dallow noted.

The latest ABS data showed there were 36,190 short-term visitor arrivals in May in Australia, with 79% from New Zealand.&nbsp;

Property searches from New Zealand on realestate.com.au have surged 

New Zealanders showing heightened buying interest in luxury new Gold Coast apartments

The NSW Government has announced a collaboration to develop a world-first construction assurance tool to access a residential building&rsquo;s quality and compliance with construction standards.

The Building Assurance Solution (BAS) will bring together the products and designs certificates of compliance for each building to create a digital DNA that will establish a trustworthy rating for individual buildings, so they can be compared like-for-like.

Minister for Better Regulation and Innovation Kevin Anderson said developing this digital technology, in partnership with KPMG, NSW Fair Trading and the insurance industry, was part of the drive to transparency in lifting standards in the construction industry.

[smartcode_project:default project_id=100811 project_image_fid=162902]

&ldquo;We expect this to be a genuinely world-leading piece of work that will help measure the quality and insurability of buildings by identifying which buildings are trustworthy, from measuring compliance with design and construction standards to traceability of materials all the way back to the manufacturer.&rdquo; Mr Anderson said. 
&nbsp; 
&ldquo;With this information, aspiring homeowners will be able to make better decisions about what could be the most significant purchase in their life, before they buy.&rdquo; 
&nbsp; 
Mr Anderson said the BAS tool will allow the regulator to easily identify and respond to defective products and take action against the riskiest practitioners by knowing which buildings they have worked on. 
&nbsp; 
&ldquo;This tool will show us what products were used, who made them, what testing certifications are held and, who installed and certified building work. Practitioners who build and design in NSW will now have a digital fingerprint that will attach to every project they have worked on,&rdquo; Mr Anderson said.

[smartcode_project:default project_id=30049 project_image_fid=162882] 
&nbsp; 
Mr Anderson said the tool will allow insurers, for the first time, to easily compare buildings so they can better price insurance for buildings and the practitioners who design and construct them.&nbsp;

&ldquo;The Buliding Assurance Solution, combined with the requirement for designers and builders to lodge their designs electronically and declare they comply with the building code, will help give insurers confidence to return to the market,&rdquo; Mr Anderson said.

[smartcode_project:default project_id=7363 project_image_fid=166645]&nbsp; 
 
The minister advised KPMG will work with developers, including Mirvac, to demonstrate the application of the BAS tool to their new projects. 
&nbsp; 
&ldquo;Ultimately this tool will help establish NSW as the best place to run a trustworthy construction business, giving the cowboys nowhere to hide and consumers confidence &nbsp;they&rsquo;re buying an apartment that will stand the test of time,&rdquo; Mr Anderson said.

The BAS tool will give the cowboys nowhere to hide and consumers confidence, NSW state government minister Kevin Anderson said

Mirvac among Sydney developers steering apartment building purchasing to quality transparency

A local family has listed a 1.4 hectare site in the Fisherman&rsquo;s Bend precinct in Port Melbourne with industry expectations to fetch $30 million plus with interest tipped to come from &quot;the full suite of developers including local, national and international.&quot;

The property at 525 Graham Street, Port Melbourne is set to attract interest from the apartment developers, with the site&#39;s planning controls allowing for significant height and density to be achieved.

Located within the Wirraway precinct, the property is currently occupied by a large warehouse has been the longstanding base of Frank Walker&rsquo;s National Tiles.

It will provide the purchaser with holding income of $410,000 incl. GST plus outgoings during the development application period.

Savills agents Julian Heatherich, Benson Zhou and Clinton Baxter have been appointed to handle the sale.

<a href="/developments/melbourne-vic?source_news_article_id=105156&amp;ref=news_body_link"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melb_cbd_tile_1.jpg" style="width: 720px; height: 480px;" /></a>

The Fishermans Bend Framework predicts that the precinct will support 80,000 new residents and 80,000 new jobs, with the population expected to grow by 1500% in the coming 20 years.

The Savills marketing notes the transformation of the urban renewal area is &quot;set to escalate in the coming years after some challenges since the precinct&rsquo;s initial rezoning in 2012.&quot;

Major investment by the state government will be underpinned by the transformation of General Motors Holden&rsquo;s former headquarters into a STEM employment hub supporting over 30,000 new jobs.

&ldquo;With the Fisherman Bend Infrastructure Contributions Plan set to be finalised in the near future, we&rsquo;re forecasting a real boost in development in Fisherman&rsquo;s Bend, particularly considering the current strength of the residential market, and the unrelenting demand for the city fringe&rdquo; Mr Heatherich said.

Current projects in the suburb include Port Lane at 201 Williamstown Road, Port Melbourne.

[smartcode_project:default project_id=89720]

The Fishermans Bend Framework predicts that the precinct will support 80,000 new residents and 80,000 new jobs, with the population expected to grow by 1500% in the coming 20 years.

The property adjoins Goodman Group&rsquo;s recent retail project which features a full-line Woolworths supermarket and Dan Murphys, while on the opposite corner of Plummer Street, the Fisherman&rsquo;s Bend Secondary School is almost complete ready for the first round of enrolments in 2022.

&ldquo;The delivery of key amenity and infrastructure on the neighbouring sites unlocks the potential for quick development of the site&rdquo; said Mr Heatherich.

Mr Heatherich noted that an opportunity of this scale is rarely brought to market. The site has been held by the family for 34 years.

The 1.4 hectare site has been held by the family for 34 years 

$30 million Frank Walker's National Tiles apartment development site to test the waters at Fisherman’s Bend

The NAB chief economist Alan Oster tips the RBA will lift the cash rate to 2 percent by 2025 from the current 0.1 percent.

His forecast comes despite the official advisory from the central bank.

&quot;They are still saying that they don&#39;t expect to see, on their central forecasts, rate rises until 2024.

&quot;But if I&#39;m reading between the lines, I&#39;m saying they are opening themselves up, if the environment is sufficently strong, to start increasing rates in 2023.

&quot;Probably late in the back end of 2023,&quot; he told the NAB podcast last week.&nbsp;

&quot;And I would still say that when they go they will go fairly quickly.

[smartcode_project:default project_id=3490 project_image_fid=92411]

&quot;So I would expect to see the first rate rise go from 10 basis points to 50 basis points and after that probably go 25 each quarter.&nbsp;

&quot;So within 12 to 18 months, I can see 2 percent compared to 0.1 percent at present.

&quot;But that is in 2025,&quot; he concluded.

Oster&#39;s comments were made before National Australia Bank&#39;s latest monthly survey found that business conditions slid 12 points to 24 in June and business confidence fell 9 points to 11 given increasing coronavirus cases and lockdowns saw business confidence and conditions pull back from record highs last month.

[smartcode_project:default project_id=102256 project_image_fid=163757]

After this month&#39;s RBA meeting the RBA governor Philip Lowe advised it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.

&quot;The bank&#39;s central scenario for the economy is that this condition will not be met before 2024,&quot; Dr Lowe said.

It had previously advised &ldquo;2024 at the earliest.&rdquo;

However the cash rate futures market for June 2023 rose to 0.53%, up from 0.44% prior to the RBA&rsquo;s meeting, indicating that the market expects rate hikes before 2024.

NAB's Alan Oster sees a rapid lift in interest rates by 2025 from the current 0.1%

NAB tips 2 percent cash rate by 2025

CFMG Capital has expanded its Queensland portfolio with the acquisition of a new development site at Yandina on the Sunshine Coast.

The acquisition adds to its project pipeline of projects worth more than $450 million.

The project pipeline is servicing the significant demand for vacant residential land located within inner-ring suburbs of major capital cities.

Set in the Northern growth corridor The Outlook at Yandina will be developed as a boutique residential community just 20 minutes from Coolum.
 
There will be 21 residential homesites with views through the leafy hillside towards the ocean. Lots will be priced from $330,000
 
The project is fully approved with construction due to commence in June.
 
The site, acquired off-market direct with the vendor, has a total on-completion value of $7.3 million.
 
CFMG Capital has also secured project sites at Burpengary and Bellmere elsewhere in the Northern growth corridor.
 
These strategic acquisitions together with other recently acquired project sites take the total project pipeline to more than 1,500 allotments.

Its Queensland sites are: Elevate, Ormeau Hills;
Middleton Park, Logan Reserve;
Lomandra Park, Bridgeman Downs;
Mayfair Lane, Rochedale;
Solander, Park Ridge;
Birchwood Estate, Park Ridge; and
The Outlook, Yandina.
 
The company operates two core divisions; a residential communities development business with a pipeline of more than 1,500 lots and a residential funds management business that has raised more than $100 million in third-party equity.
 
The acquisitions are funded through new capital raisings via the CFMG Land & Opportunity Fund
 
Over the last 12 months to fund has returned approximately $13 million to investors at the forecast rate of return per annum with many investors rolling their capital back into the fund. 

Since January 2021, new funds raised by the CFMG Land & Opportunity Fund have offered a targeted return ranging from 8.95% to 10.95%
 
CFMG Capital General Manager Andrew Thomson said the new sites provided a good opportunity to add new lots after with CFMG Capital having transacted $135 million in vacant land allotments in the last financial year.
 
Since the start of HomeBuilder in June last year, it secured more than 450 sales across its projects.
 
“We are now reaching the stage we need to replenish our pipeline, particularly in Queensland, to be ready for the next stage of growth.
 
“Migration to Queensland is approaching the best levels in years, which means strong demand for new house and land in high growth corridors.”
 
CFMG Capital has two residential subdivisions in Victoria, The Millstone, Melton South and Acacia Village, Wollert.

It also has a presence at Newcastle in New South Wales.
 

CFMG Capital has a pipeline of projects worth more than $450 million

CFMG offer $330,000 homesites at The Outlook at Yandina near Coolum

Housing markets have continued to strengthen, with prices rising in all major markets, the RBA has noted. Housing credit growth had also picked up, with strong demand from owner-occupiers, including first-home buyers.

The central bank noted there has also been increased borrowing by investors.

&quot;Given the environment of rising housing prices and low interest rates, the bank will be monitoring trends in housing borrowing carefully and it is important that lending standards are maintained.&quot;

The board indicated its remained committed to maintaining highly supportive monetary conditions to support a return to full employment in Australia and inflation consistent with the target. &quot;It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range,&quot; the RBA governor Philip Lowe advised.

[smartcode_project:default project_id=5490 project_image_fid=78490]

&quot;The bank&#39;s central scenario for the economy is that this condition will not be met before 2024.&quot; It had previously advised &ldquo;2024 at the earliest.&rdquo;

However cash rate futures for June 2023 rose to 0.53%, up from 0.44% prior to the RBA&rsquo;s meeting, indicating that the market expects rate hikes before 2024.

The statement noted the economic recovery in Australia is stronger than earlier expected and is forecast to continue.

[smartcode_project:default project_id=3260 project_image_fid=62315]

But despite the strong recovery in jobs and reports of labour shortages, inflation and wage outcomes remain subdued. &quot;While a pick-up in inflation and wages growth is expected, it is likely to be only gradual and modest.

&quot;In the central scenario, inflation in underlying terms is expected to be 1&frac12; per cent over 2021 and 2 per cent by mid 2023.

&quot;In the short term, CPI inflation is expected to rise temporarily to about 3&frac12; per cent over the year to the June quarter because of the reversal of some COVID-19-related price reductions a year ago.&quot;

Prices are rising in all major markets, the RBA noted

RBA reaffirms no cash rate rise until 2024 

Home loan credit issues were the second most complained about matter in complaints lodged with the Australian Financial Complaints Authority (AFCA) in the past 12 months.&nbsp;

AFCA receives 70,000 financial complaints in 2020-21 with 9 percent (6300) on home loan credit matters.

Home loan issues stood at 13 percent of complaints in the prior financial year.

Overall complaints were down 12 per cent on 2019-20.

The most complained about money product was credit cards.

[smartcode_project:default project_id=3459 project_image_fid=147572]

AFCA reviews consumer disputes with banks, insurers, super funds, investment firms and financial advisers.&nbsp;

It secured more than $240 million in compensation and refunds after consumers sought AFCA&rsquo;s help, as well as outcomes such as fee waivers, debt forgiveness and apologies.&nbsp;

AFCA has now helped to secure more than $610 million in compensation and refunds, and over $220 million in remediation payments, since starting operation on 1 November 2018.&nbsp;

Individual consumers and small businesses can also access the free ombudsman service.&nbsp;

A preliminary data snapshot as of June 30 also shows that nearly 70 per cent of the 70,000 cases were resolved by agreement after AFCA brought the parties together, and that nearly 60 per cent of cases were resolved within 60 days.&nbsp;

The most complained about product in 2020-21 was credit cards, accounting for 14 per cent of all complaints, followed by home loans (9 per cent) and personal transaction accounts (8 per cent).&nbsp;

[smartcode_project:default project_id=3459 project_image_fid=147571]

Home building insurance complaints rank among the top concerns.&nbsp;

With credit cards, the most common issues were default listings and unauthorised transactions &ndash; the latter accounting for 11 per cent of card complaints.&nbsp;

Government support, business relief measures and a steadying economy had a positive effect on complaint levels in 2020-21, including complaints involving financial difficulty, AFCA&rsquo;s Chief Ombudsman, David Locke said.&nbsp;

&ldquo;Significantly, complaints involving financial difficulty were down nearly 40 per cent from the numbers we saw the previous year,&rdquo; Mr Locke said. &ldquo;That&rsquo;s a great outcome and reflects the positive response from government and industry to the impact of COVID.&nbsp;

[smartcode_project:default project_id=5490 project_image_fid=78492]

&ldquo;However, it&rsquo;s too early to say we&rsquo;re out of the woods yet. It may be some months before we know the full impact of the end of government emergency support and assistance from financial firms such as deferred loan repayments.&quot;

Overall, complaints were down 12 per cent on 2019-20.

The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. 
&nbsp;

The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes.

Home loan complaints made to AFCA dip

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

Joel Robinson

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

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

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

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

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

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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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