An interstate investor paid $2.825 million for a strata-titled apartment block at Caulfield East.

The 1970-built block of five apartments had been in the one family for more than 35 years. 
&nbsp; 
Teska Carson selling agent George Takis advised 33 Grange Road property drew 80 plus enquiries.

There were 110 bids from six bidders driving the price to $125,000 above the vendor&rsquo;s reserve. 
&nbsp; 
``This was a great result for Melbourne&rsquo;s suburban boutique apartment market,&quot; Takis said.

[smartcode_project:default project_id=29048 project_image_fid=151680]

&quot;Investors have been very wary of a product that has seen many sell at below their purchase price but the smaller, well-located, blocks have held their value well.&quot;

It was a 980 sqm holding with the build area totalling 485 sqm.

There are 3 x 2 bedrooms and 2 x 3 bedrooms.

The last time one of the tightly held rental apartments was marketed was in 2018 when a three bedroom ground floor apartment was offered as a $550 rental.

In 2008 it was a $270 rental.

A top floor unit was offered in 2016 at $495 a week.

Another was offered in 2013 at $350 a week.

An interstate investor has paid $2.825 million for a strata-titled apartment block at Caulfield East 

jchancellor-FAypfDUnLy

Interstate investor spends $2.8 million on Caulfield East apartment block

A city edge townhouse sanctuary in Collingwood fetched $2,255,000 at recent weekend auction, significantly above its price guide.

The 10 Little Oxford St offering was in a warehouse originally built in the 1950s and converted into residences in 2001.

Property developer John Wark and lawyer Katarina Palmgren bought the home 13 years ago and undertook its refurbishment in 2018.

It last traded in 2008 at $520,000.

The update was done by Robert Nichol &amp; Sons Architects.

[smartcode_project:default project_id=3233]

Simon Shrimpton at Jellis Craig had given a $1,850,000 to $2 million price guide with it featured on The Design Files web site.

It was marketed as having &quot;luxurious designer spaces of a high-calibre warehouse residence.&quot;

The extensive light-filled space came with high-class features and views in a convenient position near Smith and Gertrude Streets&rsquo; dining, caf&eacute;s, shops and trams.

Smith Street, the edgy Collingwood strip, was recently named the coolest street in the world.

The recent comparables advised by Jellis Craig included a Kerstin Thompson-designed townhouse at 93 Little George Street, Fitzroy sold at $2,005,000.

There had also been Station Mews, at 117 Station Street, Carlton at $2,065,000.

&nbsp;The agents cited the sale at 6/120 Queens Parade, Fitzroy North at $1.8 million, in the former 1930s Selotta Shoes Factory townhouse conversion.

The warehouse originally built in the 1950s was converted into residences in 2001.

Designer Collingwood townhouse soars above price guide

The NSW apartment construction watchdog, NSW Building Commissioner David Chandler claims a large number of strata body corporate committees are not reporting defects.

It followed a survey by the NSW Fair Trading Department, and the peak body for strata managers, showing that fewer than one in five buildings with serious defects had been reported to the regulator.

&quot;What that is telling us is that a large number of body corporates are sitting on known defects and not reporting them,&quot; he said.

Chandler said body corporates risked defects in their buildings becoming revealed in a &quot;very public way&quot; if they did not report them to Fair Trading.

He told the Sydney Morning Herald he believed the main reason they stayed silent was due to fears that reporting would lower the value of apartments and make them harder to sell.

[smartcode_project:default project_id=9187 project_image_fid=164848]

NSW laws require vendors - irrespective of whether they are an existing owner or developer - to disclose serious defects to prospective purchasers in contracts of sale.&nbsp;

However it is not a current legal requirement for defects to be reported to Fair Trading, a matter that Mr Chandler signalled the state government would now be looking to require.

The NSW construction watchdog was appointed to clean up the construction industry and restore public confidence after the Opal and Mascot Tower disasters.

Last month the NSW Government announced plans to recruit 30 further building inspectors and auditors to join NSW Fair Trading.

[smartcode_project:default project_id=7317 project_image_fid=79249]

Minister for Better Regulation Kevin Anderson said it was part of the progression to lift confidence in residential construction.

&ldquo;Under this Government we&rsquo;ve introduced landmark legislation to shake up the industry and prevent risky players from putting substandard properties on the market,&rdquo; Mr Anderson said.

&ldquo;The new laws provide homebuyers with confidence that their new home has been designed and built in accordance with the Building Code of Australia.&nbsp;

The 30 new inspectors and auditors will join an existing team of 30 that have been active in the field since September last year implementing Fair Trading&rsquo;s new proactive compliance strategy to identify and resolve defects before projects are completed.&nbsp;

[smartcode_project:default project_id=32227 project_image_fid=93954]

&ldquo;Having the legislation in place is one thing, but enforcing it is another,&quot; Anderson said.

&quot;We want to knock out the dodgy players and make sure that customers can have confidence when they are handed the keys to their new apartments.&rdquo;

The recent departmental survey of more than 500 buildings in NSW that were built in the past six years found 36 per cent had serious defects, with just 17 per cent reported to the regulator.

Around a quarter related to water leaks and moisture, 15 per cent with fire safety systems and 10 per cent had structural issues, and 6 per cent had non-compliant cladding.

A further raft of protections for apartment buyers in NSW came into effect this month including a requirement for designers, engineers and builders who work on apartment buildings to be registered.

David Chandler said body corporates risked defects in their buildings becoming revealed in a "very public way" if they did not report them to Fair Trading

NSW strata owners keeping apartment faults secret as Fair Trading appoints more inspectors

The next of stage of Lendlease’s $11 billion Yarrabilba master planned community has been fast tracked, following some 100 blocks being sold last month.

Local and interstate buyers have continued to register their interest in the future lots at the new precinct, known as The Parks.

Yarrabilba has some 10,000 residents, since launched eight years ago, and is credited as one of Queensland’s most popular masterplanned communities.

Lendlease development director for Yarrabilba Michelle Wooldridge says the precinct would help meet significant pent-up demand for new homes in the Logan region.

The new precinct will eventually provide around 2000 new homes with more than 35 per cent of The Parks dedicated to parklands and green space.

The next release of The Parks will be mid-July.

Lendlease recently welcomed a Queensland Government announcement to help fast-track the next phase of Yarrabilba, which will include a new state primary school.
 
The State Government will contribute $15 million towards new infrastructure works at Yarrabilba as part of its Building Acceleration Fund (BAF) program, with Lendlease co-investing $9.8 million.
 
The works will support 100 jobs and include earthworks, water, sewer, electrical and communications mains, streetscaping and roadworks for the next 2,000 residential lots within Yarrabilba, paving the way for the new school site.
 



The next of stage of Lendlease’s $11 billion Yarrabilba master planned community has been fast tracked

More than 100 blocks sold at Lendlease’s $11 billion Yarrabilba master planned community

Developer JQZ has sold the first penthouse within its $1.6 billion St Leonards project Eighty Eight just seven days after its release.

The $10.5 million price set a new record per sqm rate for highrise Lower North Shore through Apex Investment Alliance.

The price equated to $52,239 square metre for the 209 sq m two storey penthouse.

The buyer had been looking for eight months.

The 88 by JQZ residential precinct is now under construction at 88 Christie Street.

It comprises two residential towers one of 47 and the other 26 storeys.

There is also a commercial tower of 15 storeys designed by PTW Architects.

The initial apartment sales were in 2018.

[smartcode_project:default project_id=7841 project_image_fid=27244]

Denis Wan, of Apex Investment Alliance who sold the penthouse, described it as an impressive price.

There are four two-storey penthouses on levels 46 and 47 of the 88 by JQZ tower.

Henderson and Co founder Angus Henderson has designed the interiors.

Set 220m above sea level, the four-bedroom penthouses will have the highest elevation of any residences on the north shore, with views over the Sydney CBD, Sydney Harbour Bridge and Sydney Harbour.

In 2016 there were reports almost $11 million was paid for a penthouse in the St Leonard&rsquo;s The Landmark development by Chinese developer New Hope and VIMG. 
&nbsp;

JQZ has sold the first penthouse just seven days after its release

Eighty Eight by JQZ scores pricey St Leonards penthouse apartment sale

A $3.15 million Walsh Bay sale topped weekend auction results for apartments across the capital cities.

The 136 sqm two bedroom Mirvac-built apartment was set in the Parbury building in the Walsh Bay precinct.&nbsp;

It was among the 333 apartments put to weekend auction across Sydney which saw a 77 percent success rate.

[smartcode_project:default project_id=30049 project_image_fid=162882]

The 401/1 Pottinger St apartment came with Harbour Bridge views.

It has access to an indoor pool, gymnasium plus a 13sqm security parking space and 4sqm storage cage.

Selling agent Adrian Wilson said it was a tightly held complex. although there was a sale of another two bedroom apartment three floors higher on the day before.

The $3.15 million apartment had last sold at $2.125 million in 2017.

It first sold off the plan at $915,000 in 2002.

The Parbury at Walsh Bay won the NSW Heritage Office Heritage award in 2004.

[smartcode_project:default project_id=31751 project_image_fid=160996]

There were 594 auctions of apartments on the weekend, according to CoreLogic, with a 69 percent success rate.

There was an $860,000 median.

Melbourne&#39;s top result was a newly built, four bedroom townhouse at 1/60 Relowe Crescent, Mont Albert North which fetched $1,602,000.

The price guide had been $1.4 million to 41.54 million based on a late 2020 sale at $1.46 million at 47 Boondara Road, Mont Albert North.

Melbourne vendors secured a 57 percent clearance rate from the 208 apartments and townhouse offerings.

The two bedroom apartment was set in the tightly held Parbury building in the renowned Walsh Bay precinct

Mirvac-built Walsh Bay apartment tops weekend apartment auction sales

The annual Vinnies CEO Sleepout has raised over $8 million, the updated tally coming on Friday morning after the long night to raise funds and awareness of homelessness.

About 1650 executives slept rough in sleeping bags as part of the campaign, which Vinnies launched 16 years ago. There were some 43,500 supporters who made donations.

It&rsquo;s Vinnies biggest annual fund raiser to assist the homeless with accommodation and food, and also for education, counselling, employment and health services.

Last year the COVID-19-impacted Vinnies CEO Sleepout raised $5.7 million.&nbsp;

The latest tally showed Vedran Drakulic, the CEO at Gandel Philanthropy in Victoria had raised over $167,000 in pledges, putting him in the nation&rsquo;s top spot in his seventh sleepout.

CEOs and directors in the property, banking, mortgage, legal, architecture, town planning and finance industries spent the night without shelter in the national sleepout to raise funds for St Vincent De Paul Society&rsquo;s (Vinnies) homelessness services.

They included Nick Georgalis, managing director at Geocon Group in Canberra, who raised over $60,000 in his first sleep out, with the temperature feeling like minus 0.7 degrees according to the weather reports.

Simon Betteridge, managing director at the Queensland development company, Gardner Vaughan Group, was also on his first sleepout.

John Richardson, managing director at Kenfrost Homes in Queensland, also participating for the first time, raised over $50,000 in donations.

Colin Hughes, the CEO at On Point Development Group, was among the 215 who slept out on the Gold Coast.

Dean Keating led the team from Wellam Constructions in Melbourne.&nbsp;

Victor Said, chairman at Rivergum Homes Group in Adelaide, took part in his third sleepout.

Estate agent Alex Ouwens at Ouwens Casserly Real Estate slept out in Adelaide.

Andrew Bell at Ray White Surfers Paradise secure donor support from the boss of REA Owen Wilson. Vivien Yap at Ray White Dalkeith Claremont slept out in Perth, with donations from members of the White family.

Nick Dowling, the CEO at Jellis Craig Group, slept out in Victoria, along with Alec Blacklaw, general manager at Greg Hocking Holdsworth.&nbsp;

John Piccolo, the CEO at Woodards Group in Victoria, secured donations from other estate agents including Jonathan Dixon Brighton.

Sydney buyers&#39; agent Rich Harvey was back for his ninth sleepout, this time at at the White Bay Cruise Terminal.

Brad Cramb and David Hyman at Lendi Group participated with the team raising over $36,000.

Dr David Gruen, Australian Statistician, and his daughter Emma, participated enduring a cold Canberra night at the National Arboretum.&nbsp;

&ldquo;I&rsquo;m proud to participate in the Vinnies CEO Sleepout for the fourth time. It&rsquo;s my opportunity to help get Australians talking about homelessness and raise awareness of the experiences of some of the most vulnerable people in our community,&rdquo; Dr Gruen said.

Data from the 2016 Census showed 1 in 200 people in Australia are experiencing homelessness, or around 116,400 people across the country. On Census night, 8,200 people were estimated to be &lsquo;sleeping rough&rsquo; in improvised dwellings, tents or sleeping out, up from 6,810 people in 2011.

Dr Gruen&#39;s donors included the federal treasurer Josh Frydenberg.

The Vinnies CEO Sleepout Perth event will be held on 24 June 2021.

Those wishing to support the sleepout can donate via ceosleepout.org.au or pre-register for 2022.

The 16th annual Vinnies CEO Sleepout took place last night across the country as leaders in business, community and government slept without shelter to help raise money and awareness of homelessness

Property industry leaders support Vinnies CEO Sleepout

One of the stand-out features of the past year has been the large increase in household saving, Dr Philip Lowe, the RBA governor advised in a speech today.

He noted that last June the saving rate spiked to 22 per cent, the highest level on record.

"This increase in saving reflected the combination of: the boost to incomes from government support; the limited opportunities to spend; and households feeling uncertain about the future," he said.

While the saving rate has since declined as restrictions have been eased, it remains high by historical standards, Dr Lowe added. 

"The fact that households have saved more means that, in aggregate, household balance sheets are in better shape than they were previously."

He added household balance sheets have also been affected by the recent rise in housing prices. 

"This rise has been a nationwide development, but was first seen in parts of regional Australia, with price gains in many areas outstripping those in the capital cities.

"Global factors, including low interest rates, have played a role here. 

"But there has also been strong demand for properties in regional Australia due to people moving out of the capital cities and fewer people leaving regional areas during the pandemic. 

"The effects of this are evident not just in prices but in rental markets too, with rents rising quickly in many regional centres."

Dr Lowe said he would be watching how households respond to these changes in their balance sheets as it will shape the next stage of the recovery. 

"If households were to run down their additional savings quickly or if higher housing prices spurred more spending than usual, a stronger economic path than the one we have envisaged could eventuate. 

"On the other hand, it is possible that households sit on these extra savings for a long time and restrain their spending because of uncertainty about the future.

"If so, this would slow the recovery. So this is an issue we are watching carefully."

It was also noting that the rise in housing prices was encouraging more housing construction. 

"The challenge here is to make sure that planning processes are sufficiently flexible to allow the supply side of the market to respond to the extra demand; regional centres should be better placed on this front than capital cities, although this is not always the case. 

"A related challenge is to find the workers to build the new housing in regional Australia."

The RBA has also been paying close attention to is the increase in household borrowing. 

"The RBA does not, and should not, target housing prices," he reaffirmed.

"We do though have a strong interest in trends in household borrowing, especially given the already high level of household debt in Australia.

"It is important that lending standards remain sound in an environment of low interest rates and rising housing prices. 

"At its meeting last week, the Council of Financial Regulators also discussed the risks that could arise if growth in household borrowing substantially outpaced growth in household income. 

"This is not the case at the moment, but the Council did discuss possible policy responses to a scenario in which rapid growth in household debt posed heightened risks to the future stability of the economy."

Dr Lowe said the central bank will not increase the cash rate until inflation is sustainably within the 2–3 per cent target range.

He noted year-ended CPI inflation will temporarily spike in the June quarter to around 3½ per cent due to the unwinding of some pandemic-related price reductions. 

"There have also been price increases for some items due to pandemic-related interruptions to supply. 

"But beyond this, inflation pressures remain subdued and are likely to remain so. 

"For inflation to be sustainably in the 2–3 per cent range, wage increases will need to be materially higher than they have been recently.

"Partly for the reasons I talked about earlier, this still seems some way off," he concluded.

While the household saving rate has since declined as restrictions have been eased, it remains high by historical standards, Dr Lowe added. 

RBA watching cash-rich household spending amid recovering economy

The long weekend national auction clearance rate saw 71 percent of the 344 apartments find buyers with Sydney being the strongest market.

There was a 76 percent success rate for the 229 Sydney apartment vendors.

The Sydney median apartment sale was $970,000, according to CoreLogic.

There was a 60 percent clearance rate for the 90 Melbourne vendors, with over a quarter selling pre-auction.

There was a $643,000 median apartment price paid in Melbourne.

The national apartment median price for weekend sales was $900,000, compared with $1.23 million for houses, which saw a 79 percent success rate.

Listings were well down in most capitals given the long weekend.

On the prior weekend CoreLogic calculated there was a lower 63 percent national success rate from 625 apartment and townhouse auction offerings.

A two storey Kew townhouse was the highest reported result when 65A Charles Street, Kew fetched $2.25 million.

It was a four bedroom, three bathroom townhouse on 346 sqm which was designed as a duplex in 2015 by Thomas Anderson Design.

Kay & Burton pushed the auction date back twice due to the COVID-19 lockdown.

It had previously sold at $1.75 million in 2015.

The next highest reported apartment sale was $1.67 million in Sydney's Manly.

It was a two bedroom one bathroom offering at 7/91 West Esplanade, in the Tara complex.

The nation’s cheapest sale was auction eve when 7/119 Northumberland Rd, Pascoe Vale fetched $345,000.

Set on the first floor of the 1968 complex, the north facing one bedroom apartment had sold for $300,000 in 2011.

The 60 sqm apartment was sold by William Spyroe at Eview Group C+M Residential to a downsizer.





The long weekend national auction clearance rate saw 71 percent of the 344 apartments find buyers

National apartment auction clearance rate rises to 71 percent

Ian Malouf, the skip bin waste management entrepreneur, turned luxury yacht broker, has paid the highest amount ever&nbsp;for a completed penthouse in Australia.

The Castlereagh St penthouse offering, &nbsp;sold by property developer John Boyd and his wife Marly, fetched $60 million.

It sits atop the ANZ Tower penthouse in the Sydney CBD.

The four bedroom apartment was designed by Richard Francis-Jones.

<a href="/developments/sydney-nsw?source_news_article_id=102323&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tile-sydneycbd.png" width="1200" /></a>

It spans 2400sq m space, with interiors by Blainey North, who worked for two years on the fit-out.

It spans three levels from the 43rd floor.

It has its own private car park with express lift.

It was listed with $66 million hopes by the selling agents, Christie&rsquo;s International agent Ken Jacobs in conjunction with LJ Hooker Double Bay agent Bill Malouf.

[smartcode_project:default project_id=7758 project_image_fid=150460]

There have been two higher off the plan sales that have yet to settle in the Barangaroo precinct, including the $60 million whole floor apartment sale by Crown to tycoon James Packer in the One Barangaroo casino tower.

There has also been an $140 million sale to an undisclosed buyer in One Sydney Harbour, which was sold by Lendlease in 2019.

The long-held established apartment record was $16.8 million set when the Moran family bought atop the Bennelong building at Circular Quay from car dealer Ray Lintott in 2008.

The penthouse sold after being on the market for 1170 days with a $66 million asking price

Record $60 million paid for Sydney CBD penthouse

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

Joel Robinson

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

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

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

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

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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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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