A $2.68 million sale of a Brighton townhouse was the top advised sale of apartments and townhouses across Melbourne last week.

It was a three bedroom plus study, with 2.5-bathroom designer townhouse at 3/18 Waterloo Street.

The second priciest sale was the townhouse at 5A Haydens Road, Beaumaris at $2.65 million.

The Brighton townhouse was designed by Paolo Pianezze Architects to showcase luxury low maintenance living.

Set close to Church Street&#39;s chic lifestyle precinct, transport and the beach, it was located at the elevated end of a cul de sac with wrap around landscaped gardens.

It was sold by Ben Vieth at Marshall White Bayside.

It last sold in 2016 at $2,392,500, according to CoreLogic.

It was among the 500 apartments put to auction across Melbourne over the past week, with CoreLogic calculating a 55 percent success rate.

Current Brighton projects include Pillar+Tide, a boutique luxury development with project sales led by Michael Paproth at The Agency.

Pillar+Tide is a collection of 16 luxury residences located on the corner of Male Street and Black Street priced from $2.575 million to $5.5 million.

Other forthcoming projects in Brighton include Awaken, the latest boutique residential release from developer Skelton.

The International on Brighton&#39;s coveted Bay Street, which is being developed on a vast 4,100 sqm site in a joint venture between property developers, Landream and V-Leader.

The townhouse was designed by Paolo Pianezze Architects to showcase luxury low maintenance living

jchancellor-FAypfDUnLy

$2.68 million Brighton townhouse tops Melbourne sales

A half floor penthouse in Opus Broadbeach, the luxury high-rise completed in October, topped Queensland&#39;s notified sale results in the last week.

The spacious three bedroom, two bathrooms apartment fetched $2,899,900.

The apartment at 112/18 Chelsea Avenue was sold by Morris Property Group agent Hayley Beswick.

The 113 apartment project that spans 27 levels on the northern edge of Broadbeach was developed by the Morris Property Group.

It came with views to the hinterland, and both the Surfers Paradise and Broadbeach skylines and onwards to the ocean and Burleigh Heads.&nbsp;

It came with upgraded fixtures and fittings, including the Sub-Zero fridge and Wolf appliance package along with tectonite technology by Franke.

There were Parisi fittings in its bathrooms.

There was secure basement parking for two cars.

The marketing advised body corporate fees of $100 a week.

CoreLogic put its sale as coming just 28 ays after marketing began.

Another Morris Property Group development was Qube which rises 40 levels and delivers 202 residences in one, two and three-bedroom configurations.

Koko Broadbeach was recently completed at 12-14 Elizabeth Avenue by Morris Property Group.

Recently completed Broadbeach projects also include Encore Broadbeach by Andrews Projects at 22 Albert Avenue, a collection of 84 vibrant apartments footsteps from the ocean.

It had a spacious floor plan with three bedrooms, two bathrooms and two car spaces

Morris Property Group Opus, Broadbeach penthouse tops SEQ apartment sales

A $5.18 million resale in the <a href="/developers/mirvac">Mirvac-built Milsons Point Latitude</a> complex topped the nation&#39;s weekend apartment auction list.

The sale was a three bedroom two bathroom offering.

The 302/55 Lavender Street apartment was sold by the Morton Agency with views over the city and harbour.

There was level lift access to a security car space and lock-up storage.

The complex has amenities including a pool, spa, sauna and gym within short walking distance to <a href="/developments/north-sydney-nsw">North Sydney</a>&#39;s CBD, Kirribilli restaurants/cafes and Lavender Bay&#39;s foreshore walks.

It last sold in 2008 at $2,690,000. It was first sold in 2005 at $1,899,900.

It was advertised as a $1900 a week rental in 2019, according to CoreLogic, having been a $1995 rental in 2016.&nbsp;

More recent Milsons Point apartment projects include Aqualuna by Ceerose and Blue by Aqualand.

[smartcode_project:default project_id=7135 project_image_fid=25193]

A three level townhouse at 13/8 Water Street, Birchgrove with water views over the marina through to Cockatoo Island was Sydney&#39;s next priciest sale over the past week at $4,008,000.

It came with a whole floor master suite with ensuite, balcony and robes.

There was lift access to all levels.

It last sold in 2015 at $3 million having been first sold by Greencliff in 2000 at $1,420,000.

Sydney&#39;s third highest sale over the past week was $3,985,000 when the three bedroom penthouse at 1306/1 Francis Street, Darlinghurst sold.

Close to Hyde Park, it came with views over the city and harbour.

[smartcode_project:default project_id=22019 project_image_fid=80658]

It was the penthouse in the acclaimed Marchese &amp; Partners designed Lumina by Harrington Properties.

It featured a 83sqm rooftop terrace.

The three bedrooms came with two car spaces plus storage.

Domain reported the auction saw competition from four of the seven registered bidders pushing the price $685,000 above the reserve.

It was sold to a couple, recently returned from Singapore through Guido Scatizzi, of BresicWhitney having last traded for $1.6 million in 2008.

It had first sold at $1.3 million in 2003.

The apartmemnt had been advertised as a $1400 a week rental in May last year, according to CoreLogic. It &nbsp;had previously been a $1600 a week offering between2013 and 2018.

CoreLogic put the Sydney apartment auction clearance rate at 63 percent, just one percent down on the 64 percent success rate for houses.

There were 494 auction apartment offerings.

[smartcode_project:default project_id=5770 project_image_fid=24110]

The 302/55 Lavender Street apartment was sold by the Morton Agency with views over the city and harbour.

Mirvac-built Latitude, Milsons Point resale tops Sydney's priciest apartment auction list

Deicorp, Helm and Ultra Building are the first developers and builders in NSW to complete the Equifax Independent Construction Industry Rating Tool (iCIRT) and achieve the benchmark to be deemed “trustworthy”.

Minister for Better Regulation and Innovation Kevin Anderson said having these first rated property industry players marked a new era of transparency for NSW apartment buyers.

“Our building reforms have focused on lifting standards and rebuilding public confidence in the residential apartment industry and our rating system is the ultimate embodiment of that goal,” Mr Anderson said.

“Ratings are a game changer. Consumers in NSW will now have the benefit of an independent assessment that lets them find a trusted, rated developer who has shown they have the capital, experience and capability to deliver a quality apartment,” he said.

[smartcode_project:default project_id=29984 project_image_fid=170448]

iCIRT leverages from Equifax’s global expertise as a regulated ratings agency, using data to be able to evaluate the risk of a developer’s business and practice by looking at aspects such as their track record, capital, risk management and ownership structure. The ratings will be listed on an online register and developers will display their ratings on sales brochures.

“The reality is there are a few bad apples spoiling the bunch," Anderson noted.

"Ratings allow customers to spot them before picking them off the tree. As we roll out more and more ratings we will deliver a fatal blow to developers and builders who engage in phoenixing or turn out defective work,” Mr Anderson said. “I congratulate Deicorp, Helm and Ultra Building for taking the lead, and there are many others not far behind them. By March next year we expect to have close to 50 players rated.”

[smartcode_project:default project_id=100689 project_image_fid=180612]

The CEO of the Urban Development Institute of Australia NSW Steve Mann said he was proud of the industry’s response to ratings. “This is a huge leap forward for NSW developers, who are delivering great apartment products,” Mr Mann said. “As we re-establish construction momentum off the back of COVID delays and push hard on delivering more apartments to the market to meet demand, ratings will help customers gain confidence when they buy new properties off-the-plan.”

Executive Office of Owners Corporation Network Karen Stiles said this game changing tool will give buyers in NSW real choice of who to engage with. “The ratings will give consumers the power of choice when considering a new development, which will have a big impact on purchasing decisions,” Mrs Stiles said. “With 623 apartments already rated as part of the program, it won’t be long until buyers entering the market can do so knowing exactly who they are dealing with.”

[smartcode_project:default project_id=84752]

The ratings initiative forms part of the NSW Government’s Construct NSW transformation strategy to rebuild public confidence in residential construction. It will be key to the Government’s plan to introduce Decennial Liability Insurance, a special type of insurance taken out by the developer to guarantee against major defects for up to 10 years, which is not currently available in Australia. More information on the strategy can be found at https://www.nsw.gov.au/building-commissioner.

The ratings initiative forms part of the NSW Government’s Construct NSW transformation strategy to rebuild public confidence in residential construction

Deicorp, Helm and Ultra Building secure NSW iCIRT trustworthiness rating

Hutchinson Builders will be bringing its own team of plumbers in to help complete the work at the Ambrose apartment project at Milton.

It follows the collapse of Brisbane construction-related company Tacoma Plumbing and Drainage after rising material and labour costs due to Covid-19 padenmic related circumstances.

SV Partners has been appointed administrator of the firm that was established in 1996.

The business was placed into voluntary administration on December 6, 2021.

With an estimated late 2022 completion date, Ambrose is the Kokoda Property project designed by architects, Cottee Parker, a $150 million, 19 storeys residential luxury tower on McDougall Street.

[smartcode_project:default project_id=6313 project_image_fid=185961]

The sub-contracting plumbing firm is also currently working on the Silk One at Woolloongabba and, according to The Courier Mail, six other sites around south-east Queensland.

&quot;Despite our considerable attempts at managing the cashflow, injecting substantial sums of monies into the business to cover shortfalls&rdquo; the snowballing effect of rising costs had forced the closure of the business,&quot; the company dirctors told staff.

&ldquo;Tacoma is not the first, and certainly not the last to suffer from these effects.&rdquo;

Brisbane-based Naba Plumbing, founded in 2009, collpased in June this year.

Tacoma Plumbing and Drainage was hit by rising material and labour costs brought on by Covid-19 pandemic circumstances

Hutchinson Builders to bring its own team in to complete Ambrose apartment site after plumbers' collapse

Bigger balconies and more storage space in new apartment blocks have been proposed by the NSW Planning Minister Rob Stokes.

The draft regulations — officially known as the Design and Place State Environmental Planning Policy (SEPP) — are open for comment until February 28, with the government aiming to have them in place by the end of next year.

The draft Design and Place State Environmental Planning Policy (SEPP) includes updates to the Apartment Design Guide, The Building Sustainability Index (BASIX), a new Urban Development Guide and Design Review Manual.
 
The draft SEPP is on public exhibition from 10 December 2021 until 28 February 2022.

NSW Government architect Abbie Galvin said the proposed changes to apartment and urban design guides have responded to changes in how people are using their homes.

“During the pandemic we’ve seen our homes and apartments become schools, offices and gyms and many of us have enjoyed walking or cycling more in our neighbourhoods,” she said.

“This timely policy seeks to reflect our new way of living.”

Beauty and quality would be brought to the forefront of planning under a proposed policy that puts heathier communities, housing choice, cooler and walkable suburbs and sustainable development at its heart, Rob Stokes said.

He said the draft Design and Place SEPP would deliver "NSW’s first comprehensive design policy."

“This policy will allow designers to think outside the box and support innovation and creativity when building new homes, suburbs and cities. 

"Great places aren’t always the product of rules and regulation, they are the result of place based design that puts communities at their heart,” Mr Stokes said.  
 
“This principles-based policy is an important step in defining what matters and how through good processes and wiser decision making we can build a beautiful and prosperous future.”
 
Key benefits of the draft Design and Place SEPP include:
·       Greater housing diversity and choice, including provisions for flexible layouts for families, space to work or study, adequate sunlight, more storage and usable balconies
·       Homes that are more comfortable in both winter and summer and are cost effective to heat and cool
·       More, and better quality parks within reach no matter if you live in an apartment or new greenfield suburb
·       Greater permeability in new subdivisions that make it easier to walk or cycle to key destinations
·       Beautiful and productive high streets and centres that are better for business
·       Commercial buildings that operate at net zero, from day one of coming online.
 
For further information on the Design and Place SEPP and to provide feedback visit planning.nsw.gov.au/design-and-place-sepp 

and to join a public webinar featuring the NSW Government Architect, Abbie Galvin and members of the team, providing an overview of changes to the Apartment Design Guide. You can register to attend virtually on the event registration page https://events-apac1.adobeconnect.com/content/connect/c1/1892064813/en/events/event/shared/default_template/event_landing.html?sco-id=2521151947&_charset_=utf-8

NSW Government architect Abbie Galvin said the proposed changes to apartment design guidelines responded to changes in how people are using their homes

More balconies, storage and studies under draft NSW apartment design guidelines

MaxCap Group has confirmed it has arranged a $320 million funding facility for the high profile Trio project in Melbourne&rsquo;s Box Hill.

It is being developed by CBD Group with builder Hickory as the construction partner at 845-851 Whitehorse Road.

The towers range from 16 to 38 levels with 427 residential apartments and 128 hotel rooms and senior independent living apartments.

The total GRV of the project is expected to be circa $450M on completion.&nbsp;

&ldquo;This is not only about delivering high quality residential, commercial and hotel accommodation but also outstanding amenity and convenience for residents, hotel guests and commercial tenants alike,&rdquo; said Bill McWilliams, MaxCap Chief Investment officer.

&ldquo;We are delighted that Trio is already well advanced with the project builder Hickory nearing completion of basement works.&rdquo;

Trio will also include a two-level childcare centre, 52 retail units, 45 office suites and 680 car parks.&nbsp;

[smartcode_project:default project_id=4134 project_image_fid=27479]

&ldquo;This is an extremely well located project in the heart of Box Hill with excellent public transport, and education facilities, in particular high accessibility to Box Hill Hospital and Box Hill TAFE,&rdquo; said Bill McWilliams.&nbsp;

&ldquo;The already strong market demand across all product types reflects the positive positioning of Trio, suited to residential and commercial uses.&nbsp;

&quot;The benefit of having all services within the one development strongly appealed to purchasers.&rdquo;

McWilliams said there was also a reduced pipeline of competing large-scale projects projected in the East of Melbourne over the next 12 &ndash; 24 months.&nbsp;

As one of Melbourne&rsquo;s fastest growing suburbs, Box Hill&rsquo;s population has grown by 18% over the past five years compared with the broader metropolitan Melbourne growth of 12%.&nbsp;

Box Hill Central Activity Centre houses 8,000 residents as at June 2019, with the population forecast to grow to 11,000 by end of 2021.

MaxCap Group has invested more than $12.3bn across more than 450 loans since inception in 2007.

Trio is a mixed-use project comprising three towers

Trio, Box Hill secures MaxCap funding facility 

Colliers Residential Managing Director Peter Chittenden says the quality of apartments year on year is continuing to improve to satisfy consumer demand.

And a big move by developers has been the high-end design in the CBD, which has seen&nbsp;locals drive sales in premium central apartment projects.

They&#39;ve seen big demand for 111 Castlereagh Street, the residential apartment tower atop the former David Jones department store, despite the high price tag.

The cheapest units are one-bedrooms start at about $3 million, while four bedroom units start from $13.5 million.

[smartcode_project:default project_id=94354 project_image_fid=170433]

Urban recently caught up with Chittenden&nbsp;to discuss the trends emerging in the apartment market.

JC: How have you viewed the performance of the apartment market (established and or off the plan) in 2021, and what are the strongest positive and negative factors that will influence outcomes in 2022 and 2023? 
&nbsp; 
PC: The market across both 2020 and 2021 have been impacted by Covid-19. However, 2021 surely experienced a more significant Covid-19 &lsquo;interruption&rsquo; in terms of inspections but in saying that the quality of enquiry was almost unprecedented when it related to sales volumes. 
&nbsp; 
In 2021, the best performers in terms of developments and sales agents, were those who took to a more inquisitive approach when qualifying buyers, ensuring a deeper product and market knowledge, utilising new and innovative technology and having a wiliness to completely change the sales path and interactions all the way through to exchange.&nbsp; 
&nbsp; 
We also saw the gap widen between houses and apartments through to off the plan, more than in the last decade, which has resulted in new geographic markets, opening up for other product types such as apartments.

[smartcode_project:default project_id=94354 project_image_fid=170427] 
&nbsp; 
Looking ahead to 2022 &amp; 2023, for apartments year on year the quality improves to satisfy consumer demand, desire and expectations of the greater market pool of buyers. In 2022 and beyond we expect to see more designs and sales of the super-premium apartments in prime CBD, beachside locations. 
&nbsp; 
The acceptance of technology as a non-contact means to undertake a detailed inspection will improve even more, as more people adapt, therefore giving us greater range of potential purchasers both across Australia and overseas. We will also see CBDs across the country and neighbouring regional areas continue to grow due to lifestyle choices and desires. 
&nbsp; 
Some of the negatives will be a reduction in the amount of developers in the market place, putting pressure on stock as well as the cost of construction increasing every 90 days due to lack of labour and supply materials. 
&nbsp; 
JC: What trend (short term or long term) has prompted your greatest enthusiasm for the apartment market, and what is the issue of most concern to you and or your clients? 
&nbsp; 
PC: The trend of the super-premium coming back into the CBD purchased and supported by local buyers (super-premium defined as apartment at 45,000 a meter and above). 
&nbsp; 
Another trend is that Sydney city will change in ways and at a speed we have never seen before. We predict the physical engagement with retail will go back to be a more important part of people&rsquo;s lifestyle and day to day activities.

[smartcode_project:default project_id=94354 project_image_fid=170432] 
&nbsp; 
Offices will be occupied by different users and will become a more activated 7 day a week living and working environment due to a more considerate and understanding authorities to encourage people to return to this city. 
&nbsp; 
JC: Has urbanisation stalled amid the rush to the regions or what will it look like over the decade ahead? 
&nbsp; 
PC: In short, no. There is an undersupply of housing apartment stock throughout our capital cities. This is a fact - due to the volume of sales across 2020 and 2021 in particular, and what we expect moving forward. 
&nbsp; 
The rush to regions is simply the dream coming true, that has been embedded in our thinking for quite some time, that you can have flexible work hours and still be productive. Being forced to work from home has taught us all about new and acceptable ways to work, train, inspire and live our lives. 
&nbsp; 
In 10 years&rsquo; time, we see the greater Sydney catchment for jobs and residential will include extended areas up to Newcastle and Wollongong, giving people greater choice of living and working environments. With this growth, there will no longer be the stigma &ldquo;brain drain&rdquo; that may have once been associated with living in a more regional area.

[smartcode_project:default project_id=94354 project_image_fid=170426] 
&nbsp; 
JC: How important do you view the push for sustainability practices in the apartment market, and what initiative has seized your interest or focus?&nbsp; 
&nbsp; 
PC: Being environmentally conscious is important everywhere and all the time - that should be the first consideration.

Increasing numbers of people are enquiring about more sustainable living options when considering their next purchaser, however whilst they want it &ndash; they still want to make sure it is cost-effective.

It is something developers always discuss, however it also needs to be delivered in a cost-effective way for them. In saying that, in the future, we do believe this will be led by government authorities and should be something that is considered where possible in all developments.

A big move by developers has been the high-end design in the CBD, which has seen locals drive sales in premium central apartment projects.



Locals drive super-premium CBD apartment sales: Five minutes with Colliers Residential managing director Peter Chittenden

Suburbs with good access to commuter public transport that typically commanded higher rents have faced pressures during the pandemic.

&quot;Covid has changed the benefits of short commutes,&quot; says Angus Moore, an economist with REA Group&#39;s PropTrack who noted rental price recovery hasn&#39;t seen evenly across cities.

&quot;Suburbs which had a high share of public transport users, have seen median rents decline and have significantly underperformed other areas.

&quot;Renting in a suburb where it&rsquo;s easy to commute to work wasn&rsquo;t a priority during Covid,&quot; he said.

[smartcode_project:default project_id=2806 project_image_fid=175415]

&quot;For many renters, the benefits of living close to work dissipated in 2020. If you&rsquo;re working from home, there&rsquo;s far less need for public transport.

He noted even for essential workers who were still going to work, private rather than public transport became much more attractive.

&quot;There was less traffic on the road and travelling via public transport carried higher risks,&quot; he noted.

This re-evaluation shows up in how rents have changed since the pandemic began, he said.

&quot;Rents have fallen sharpest in suburbs where people stopped travelling to work.

[smartcode_project:default project_id=2929 project_image_fid=137896]

&quot;The relationship is again extremely stark.&nbsp;

&quot;The larger the decline in the number of people going to work, the bigger the fall in median rent for that suburb.

In suburbs where people have mostly kept going to work, rents have grown &ndash; and have done so quite strongly (20% or more) in some areas, the report noted.

As the Covid crisis fades and people return to the office, shorter commutes will start to become more attractive again.

While it&rsquo;s too early to know whether the premium inner-city suburbs used to command will fully return, we can already see some signs in Western Australia, South Australia, Tasmania, and Queensland &ndash; where Covid has been less severe.

[smartcode_project:default project_id=3730 project_image_fid=171615]

In these states, the number of people going to their workplaces is mostly back to pre-pandemic levels.

Rents in these cities have been growing faster than in Sydney and Melbourne.

And while rents in the inner city have grown slower than in the outer suburbs, there is much less of a divide than in is the case in Melbourne and Sydney.

This suggests the weakness in rents we see in inner-city Melbourne and Sydney will start to reverse.

Even now, public transport use is roughly 25% lower than pre-pandemic in SA and WA, even though these states have roughly as many people going to work as pre-Covid.

If the shift away from public transport is permanent, inner city suburbs might have permanently lost some of their commute-convenience appeal.

Rents slowly returning to pre-Covid level in commuter belts: Proptrack

A three bedroom, three bathroom apartment in The Standard was Brisbane&#39;s top apartment sale in the past week.

The $4.5 million South Brisbane sale notification for the 229 sqm space was secured through Chris Houston at Aria Living following the building&#39;s completion in July this year.

The 2902/15 Manning Street apartment sits within the penthouse collection in the complex.

&quot;The collection features a series of New York inspired residences with impeccable finishes and breath-taking views of the river and Brisbane&rsquo;s CBD,&quot; Houston said.

[smartcode_project:default project_id=7500 project_image_fid=79963]

&quot;Expansive floor to ceiling glass with soaring ceilings heights enhances the luxurious sense of space, whilst distinguished design features and considered floor plans maximise your everyday living.

&quot;Residents of the Penthouse Collection will also be welcomed to The Standard&#39;s inhouse Concierge, available from Tuesday to Saturday to assist with simple quality of life improvements to help maximise your every day,&quot; he noted.

It is the highest yet recorded sale in the curvaceous building which features a greenwall at the podium level.

[smartcode_project:default project_id=7500 project_image_fid=80599]

There was a 30th floor sale at $2.195,000 in September, according to CoreLogic&#39;s update on recent settlements.

The complex was developed by Aria Property Group who&#39;d commissioned the design by architectural firm Woods Bagot.

Aria&#39;s earlier apartment projects has seen it awarded best high density developer in Australia 2017, 2018 &amp; 2019.

[smartcode_project:default project_id=7500 project_image_fid=80602]

The Standard won the Best High Density Development in Queensland at the 2021 Urban Development Institute of Australia (UDIA) Awards.

The Standard was also recently awarded winner in three categories at the 2021 Housing Industry Association (HIA) Queensland Housing Awards.&nbsp;

Located on Fish Lane in South Brisbane, The Standard comes with a resident&rsquo;s Wellness Club, the Rooftop Club and the acclaimed Lune Croissanterie on the ground level.

The site was bought from the Metro Property Group for $13 million in 2017.

The apartment was three bedrooms and three bathrooms 

$4.5 million sale in Aria's The Standard, South Brisbane apartment complex

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.

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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."

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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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