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Not all business is good business – and not all property managers are the same.
For years now we have seen the decrease in management fees for property managers. When i first started in the industry, the market hadn’t been de-regulated and the fee structure was set, there was no negotiation. Deregulation gave people the opportunity to increase fees, provide additional services and be the professionals that they are – but somehow, everything has gone the other way.
The average management fee in Victoria has decreased, and clients want more access to their property managers. Much more than ever before. We all have smartphones, but really that’s the wrong name for them. They should be called “being on call 24/7” phones. I personally love the calls on a Monday morning that begin with, “I rang you yesterday, but you didn’t answer or you haven’t returned my call.” No, I didn’t answer, I was busy with my children. They too are entitled to have a piece of me.
While I am all for building relationships with clients, because it’s both rewarding and beneficial, sometimes the expectation is a little out of whack!
I remember growing up my parents taught me that you never made a telephone call after 8.30pm or 9, yet now our mobiles continue to ring until late into the night, on weekends and even on Christmas Day. So when is it too late to make a call?  When does it become rude or an invasion of your personal time?
With all that being said, how has the management fee we earn per property decreased when we do so much more work and are more accessible than ever before?
So how can things change?
Property managers and directors need to stand up and say enough is enough. If you want more of me than the average property manager, then you have to pay a little more. This means I will no longer be prepared to agree to low management fees. I will no longer be agreeable to providing my services time and time again and not be paid accordingly.  We are professionals, so if we don’t make a stand, we can never expect to be paid what we deserve.
Now with all that being said, there will always be someone cheaper. And that’s when you have to remember that not all business is good business. Sooner or later clients realise cheap is not always best.
I recently lost some business to a new client who elected to have their property managed by someone else. The other manager offered lower fees than we did. The funny part is, when it came to transferring the management, the new agent asked one of my team, “So what information do I need to obtain from you to take over this property?”. A perfect example of what cheap buys you. Unfortunately for that client, it will probably result in a continual change in property managers (which is an owner’s pet hate) or the rent roll being sold as that agent can no longer afford to be in business. I suppose only time will tell.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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Property managers should not have to be on call 24/7

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So Christmas has come and gone for another year.  This year again our office remained open for business between the Christmas and New Year period, and prior to Christmas we scheduled open for inspection times each day to allow prospective tenants plenty of notice to attend some inspections during that time.
Over the four days, we ran 70 inspection times and had more than 145 prospective tenants attend our properties. On January 3, we had received 35 applications, and we conducted another 17 inspections during this week and received a further five applications during the first week of January.
I wanted to share this information with everyone because I found several things fascinating over the past 10 days.
Firstly, the majority of agents close between Christmas and New Year.  And yes as a business owner, I would love to have the luxury to close and enjoy the break like everyone else, however as an investor with a vacant property, I want to know everything possible is being done to secure a tenant for me during this period that will minimise both the vacancy period and my stress levels at this time of the year.
While processing applications we found agents who simply closed their front doors.  There was no message on the main telephone line to say they were closed, no information on any of the team’s mobile numbers and nothing on their website to advise of different hours during the festive season.  One of the agents was a Mornington Pennisula agent – surely at this time of the year, wouldn’t business be booming for them?
Other agents closed before Christmas and somehow forgot to tell their tradespeople.  So what happened to those tenants who experienced the terrible storm on Christmas night or on Boxing Day? Well, they rang the plumber and he did what he could do until the agency re-opened days later.  And I while I acknowledge we all have our own way of running a business, I have to ask: how are some of these agencies still in business?
And what about rent received during this period?  Tenants continue to pay electronically and the money still comes through to the agents trust account. But the money still needs to be transferred to the owner.  So what is a reasonable timeframe for an owner to wait until they receive their money?
I have another example of a Melbourne agent who closed on December 23, 2011 and re-opens on January 9, 2012. That’s 16 days!!  How can this be correct?  What about the lost income to both the business and the owners whom have had vacant properties during this time?  If this agent managed my property, let’s just say I would be making some changes immediately as part of my 2012 resolutions.
For me, this highlights that some agents really don’t consider what’s best for their clients at this time of the year, and furthermore agents are really not all the same.
Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au/">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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Christmas estate agency closures leave tenants and landlords high and dry

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Recently I spent a few weeks in America and attended the annual National Association of Realtors (NAR). NAR is the largest real estate conference in the world and had more than 19,000 people attend.  The delegates come from far and wide and whilst there were only a few Aussie', I met delegates from Canada, Brazil, Asia and England. 
When you think the largest Australian real estate conference has been 2,000 and 3,000 delegates – this is one mammoth event! 
As this was my first time of attending the conference, I wanted to look at how other countries ran and operate their property management companies and departments. Along with seeking new ideas that could be implemented within the Australian market, to see how they have implemented technology into their businesses and hear about what hasn't worked during the past 12 months. 
The American realtors have had an enormously tough market in the past few years, however did you know that up until the end of October there have been more than 4.1 million sales so far for the year? That equates to 13,452 per day and is an increase of 11.3% from the same time last year. Furthermore, in 2012 they expect real estate sales to be in excess of 6 million. 
What I found amazing about these figures was the media fails to share this.  Surely this information is a good sign of a country working albeit slowly to a recovery in the real estate market? 
Property management is undertaken very differently throughout America. Similarly to Australia, every state of America has different legislation to abide by. In some states, the property manager isn't legally allowed to attend court to claim a tenant’s bond, or take action for rent arrears. The property manager prepares the file but the owners must employ an attorney (or solicitor as we know it) to present the case. 
Some of the other differences I noted were: many companies still only disburse monies to owners once a month. Tenants all pay their rent on a common due date, the agency management fee is somewhere between 8% and 10%, and most of the agencies own the maintenance businesses that undertake the repairs for the owners. 
Over the past 10 years in Australia we have seen the growth of stand-alone property management businesses. They specialise and are seen as experts in their field – yet in the States, many of the businesses are struggling to grasp the technology available, have systems and procedures to follow or to be seen as a true expert! 
I am very proud to say property managers in Australia are certainly well ahead of the rest of the world.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
 
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Australia is a world leader in property management 

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As the end of 2011 is fast approaching and Santa is less than two months away, owners and property managers should take a moment to think about the pros and cons of tenancy agreements expiring in December.  Now while in Victoria our legislation doesn’t allow us to enforce the re-signing of tenancy agreements, after the initial fixed period has expired and sometimes a tenant will be on a periodic lease or monthly tenancy and may in fact choose to vacate in December.
Having been a property manager for many years, I know we will never fully stop the above scenario from occurring or lease breaks happening or the execution of warrants during this time, but we can do something to reduce it happening.
Within my business it has always been our company policy that we don’t have fixed-lease agreements expiring in December and by that I mean, during the month of December when a property is leased, the tenancy agreement signed by the tenant and owner/agent will either be an 11- or 13-month lease.
So with my team, if the tenancy agreement is due to start anywhere between December 1 and December 10, we will prepare an 11-month lease.  Any time after December 11 will always result in a 13-month lease.  It just makes so much more sense to run a lease from the December 20 to the January 19, rather than from the December 20 to the December 19.
You will also need to consider what will happen in June each year – a six-month renewal could easily result in a vacant property just before Christmas.
So remember, December and especially Christmas time is crazy for all of us. So by implementing something so simple it will reduce any potential stress to owners and tenants alike. In my house, my husband’s motto is “happy wife, happy life!” so in business one of my motto’s is “Happy Owners = A Happy Team”! A win, win for everyone.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
 
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Tenants leaving in December a bad Christmas present

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Processing tenancy applications must be one of the most important aspects of the property manager’s role.  Although things can always go pear-shaped, securing the right tenant is paramount to having a tenancy that runs well and without too many hiccups.
So often when a management is changed to another agent, you can see how poorly some agents treat this aspect of their role.
Things to check include the applicant’s current employment and previous employment and ask questions such as:
<ul>
<li>How long have they been there? </li>
<li>Are they reliable?</li>
<li>Why did they leave?</li>
<li>Would their boss rent to them if he or she had a rental property? </li>
</ul>
In relation to their current rental history and previous rental history, your questions should include:
<ul>
<li>What date is/was their rent due? </li>
<li>When were the payments made?</li>
<li>How did they look after the property? </li>
<li>Would you rent to them again?</li>
</ul>
It’s important to be very clear with your questions and take the time to speak to everyone in person.  So often I see a summary arrive on our fax asking for a reference for a tenant.  How can another property manager make a true assessment on a potential tenant when they haven’t taken the time to speak with the property manager or landlord/owner?  So often there is more to the story, but you won’t find that out if you rely on your fax summary.
I have to say I am astonished the amount of times I have heard from my team members (past and current), family and friends that they have been approved to rent a property and no one called their employment or the property manager for a reference.  How is this possible?
If your property manager / real estate agent include character references as part of the application form, then they too should be called.  Otherwise what’s the point of having it on the application form??
Make sure any attachments you ask for continue to tell the story. Are the payslips from the current employer and are the wage earnings as per the application form? What about the drivers licence – does the address match their current residence?  If not, why not?
Finally, remember in some ways the processing of a rental application is no different to the steps you would take if you were employing that person to work in your organisation.  So spend the time to get it right!
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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Checking references is paramount to securing a good tenant

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As the rental market changes and the demand for properties reduces in some parts of the country, there must be consideration given to both the price and the presentation of the property. 
Price is always important for most investors, but what is sometimes overlooked is how much money an owner looses during a vacancy period when owners refuse to listen to the property manager and review (and reduce) the asking rent of the property. 
If the property is being marketed at $400 per week and has been vacant for four weeks with minimal enquiry or applications, isn’t it a smarter choice to reduce the asking rent to $380 per week.  As an owner of investment properties I know the $20 per week may feel like a loss, but isn’t it better to receive $380 per week rather than zero per week? 
The rental market changes from month to month , year to year and from suburb to suburb. So while you may have received $400 per week last year and the neighbour’s property is achieving a rent of $410 per week most owners would assume that their property MUST be worth between those two figures. 
Right? 
Well, no. 
It’s actually irrelevant what you achieved last year or what the house next door is achieving or because of CPI you believe you should receive a 5% rent increase this year.  What is important is what the market is doing today and what the market is telling you your property is worth today. 
We always want to believe our property is worth more.  However, when the market changes both the owner and property managers need to work together and change with it.  Together they must face the truth and yes it may hurt a little but again I ask you – isn’t some money better than no money? 
So what should you do? 
Here are some ideas:
<ul>
<li>Review your asking rent within 72 hours after the property is placed on the market and continue to review the asking rent at least once a week.</li>
<li>Have a minimum of five photographs as part of your marketing (and make sure they are current and correct).</li>
<li>Look at what demographic is best suited for your property and sell those features within your marketing description. </li>
<li>If you cannot inspect the property, ask your property manager to email you some current photographs.  Then you need to ask yourself what you can do to make your property stand out.</li>
<li>What improvements can you do? </li>
<li>Could the property do with a fresh coat of paint?  What about a feature wall?  How is the carpet?  Do the window coverings need updating? </li>
<li>What about the garden – when was the last time the lawns were cut or tided up? </li>
</ul>
So remember, be proactive and good luck!
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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You must meet the current rental market, or your property will sit empty

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After years and years of the battle, finally we see consumer affairs and the tenant’s union get their own way.
On September 1, 2011, new legislation commenced that has changed the way tenancy databases in Victoria will operate forever. For years now we have seen on media portals such as A Current Affair and Today Tonight all the terrible stories of real estate agents and how they “blacklist” tenants from obtaining another rental property in the future.  When in fact before September 1, 2011, the databases were not “blacklists” – they were actual databases. They contained records of millions of people who have rented over the last 20 years, and the databases allowed a property manager to record one of the following;
<ul>
<li>Current tenants</li>
<li>Previous tenants</li>
<li>Recommended tenants</li>
<li>Judgment / court order</li>
<li>Left owing in excess of the bond</li>
<li>Irregular payments</li>
<li>Broke conditions of lease</li>
<li>Abandonment </li>
<li>Unclaimed monies</li>
</ul>
But now things have changed.
The databases now only allow us to place a listing against a tenant for the following reason:
<ul>
<li>The tenancy has ended AND
</li>
<li>A possession order has been granted OR
</li>
<li>An order of a breach that includes the words “rent arrears” OR
</li>
<li>The person owes the landlord an amount that is more than the bond OR
</li>
<li>An order of a breach that includes the words “damage to premises” or “malicious damage”</li>
</ul>
Furthermore, the listing is only valid for a maximum period of three years.  Previously the listing would remain for seven years.
Like with all new legislation it will be monitored over the next six to 12 months and perhaps reviewed, and in the world of property management we will learn to work with the changes to the legislation accordingly.
I suppose the most disappointing part is for years the media and public have pushed for the removal or banning of these so-called “blacklists”. As property managers we no longer have the opportunity to create a positive listing on a wonderful tenant, or make a listing on someone who made irregular payments throughout their tenancy, or someone broke their lease conditions yet received a full bond refund. This was the whole point of having a tenancy database, yet what has now been created is a database of people who owners and property managers probably won’t want to rent to.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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New tenancy database laws create real tenant blacklist

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So you bought a brand-new apartment off the plan 18 months ago and now it’s coming up for completion and settlement. Do you know what to do next?  Have you organised your property manager?  What experience has your property manager had with brand-new off-the-plan properties as they can be very different to your traditional brick veneer properties to manage.
Over the years I have had the pleasure to work on many brand-new off-the-plan properties and as a property manager I love nothing more than to see a property come out of the ground at construction time and then finally see the last tradie leave the site and it be ready for occupants.
But what I have learnt over the years is that there can be a lot more work involved from a property manager’s perspective than your average house.
Firstly, who is completing the pre-settlement inspection?  Does the owner even realise he or she needs to complete such an inspection?  What do you look for? Below are some checklist items I always look out for when completing inspections for my owner clients:
<ul>
<li>Grouting and caulking of floor and wall tiles in bathrooms and laundries. What about around the taps and vanities?</li>
<li>Grouting and caulking of kitchen splashbacks and wall tiling. </li>
<li>Do all doors throughout the property open and close freely? Have door stops been fitted where required? What about the kitchen cupboards and drawers?</li>
<li>Paintwork – what is the condition? Are there any areas that require re-painting?</li>
<li>What about the floor covering? Has the carpet been fitted correctly, are there any bubbles? What about floorboards? Do any squeak?</li>
<li>Have all the appliances been fitted?</li>
<li>What about the balcony, has the perimeter been sealed? </li>
<li>Has the property had a final clean?</li>
<li>Do you have a car space? Do you know where it is?</li>
</ul>
So now the property is ready for tenants to move in.  Don’t forget the owner is entitled to complete a maintenance inspection no later than 90 days after settlement takes place.  This inspection is extremely important as it allows general maintenance items to be referred back to the builder for completion.  Failing to do this inspection could result in the owner being responsible to pay.
Also don’t forget to have an understanding of the warranty conditions for the oven, rangehood, dishwasher, taps, hot water service etc.  All products have different warranty periods and conditions – so as a property manager you need to know how they all differ.
Finally don’t forget, like anything new there will be some teething problems. Buying and living in a brand-new property is really no different to buying a brand-new car. Be upfront and let your tenants know this and remember no one has lived there before, so while a thorough inspection has taken place there may be some hiccups during the first few months of the tenancy.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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Off-the-plan properties present a special challenge for property managers

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Suppose you have now decided on your property manager, but in the final discussions you find out that the agency hands out keys to prospective tenants.  This would mean for a $50/$100 deposit and a copy of someone’s driver’s licence, that person is entitled to take a set of keys and inspect the property on their own. 
This process has been around for many, many years.  It was around when I first started my career some 18 years ago, and it’s still around now.  Agencies elect to hand out keys for their own reasons, and I am assuming one would be to free up the property manager to do other things. Furthermore, as agencies have always run this procedure – why would they change?
However, isn’t it part of the role of the leasing specialist or property manager to meet prospective tenants and show them through properties? A leasing specialist is a great advantage to a property manager, as he or she is able to meet and greet prospective tenants on behalf of both the property manager and real estate agency, which is truly a fantastic time saver. Plus it’s all a leasing specialist does, so this alone assists with the reduction of an owner’s vacancy period, which can sometimes be rather stressful for an owner. 
Remember anyone can make themselves look fantastic on a tenancy application form – but isn’t it important to meet people? In my opinion, processing tenancy applications is no different to the interview process that businesses operate.  You want to ensure you do everything possible to secure the right person. 
I can certainly appreciate we all lead busy lives, and many people would appreciate the opportunity to meet someone at the property, whether it’s at a private inspection or a general open for inspection. 
Wouldn’t it be much easier to meet the prospective tenant, rather than have them drive to the agent’s office, collect the keys, drive to the property and then drive back to the agent’s office to return the keys and receive  their money back? A 15-minute inspection could turn into an hour round trip – now who has time for that? 
My advice for owners is to consider the “what ifs” about handing out keys?
<ul>
<li>What happens if the keys are not returned?</li>
<li>Who pays for a change of locks on the entire house? Will insurance cover you?</li>
<li>What happens if the new tenant is broken into after they move in due to the intruder using a set of keys?</li>
<li>Does your landlord insurance cover you to hand out keys?</li>
<li>What happens if <a href="https://www.propertyobserver.com.au/residential/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195" title="Nigerian scammers sell house they didn't own" target="_blank">Nigerian scammers sell your house and whisk the money away to a Chinese bank account</a>? </li>
</ul>
While handing out keys has always been around, perhaps it’s time to see that procedure disappear.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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Why you should not hand out keys to prospective tenants

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A property manager should be competent to look after all the day-to-day running of the property, from assisting the owner with the review of a tenancy application and subsequent tenant selection to co-ordinating maintenance. The property manager needs to make suggestions on property improvements and updates, pay the outgoings such as council, water and owner corporation accounts, collect the rent and to transfer rent money to the owner. 
He or she should have a good understanding of what the owner expects and be proactive and responsive with clients, not simply pass the problem onto the owner to make a decision. Owners appoint the services of a property manager for advice, experience and to provide direction and recommendations when it comes to making the tough decisions.  As an owner myself, I love nothing more when my property manager emails me with both the problem and solution relating to one of my investment properties – it provides me with confidence. I lead a crazy busy life, so being presented with such solutions ensures this is one less thing I need to think about in my day. 
An example of a good property manager would be someone who regularly completes routine inspections of the property, not only to see what maintenance is currently required but also to suggest what the owner needs to think about for the future. For example, when the current tenants vacate the carpet will likely need to be replaced, or perhaps the gutters need to be cleaned and window frames need repainting in the future. Forward planning is very important for owners because it allows them to budget and therefore they won’t be surprised when the tenants give their notice to vacate and all of a sudden need to find $3,000 to $5,000 to re-carpet the house. 
When looking for a property manager, I recommend investors take a few minutes to speak with someone they are looking at employing and not to base their decision on fees or location alone. Times have changed, and a property manager no longer needs to be around the corner from the property. If you don’t have the time to call, then email them and review the timeframe it takes for a reply. This will give you an excellent indication on a property manager’s communication and time management skills, which are both very important skill sets. 
In regards to qualifications and experience a property manager needs to know a lot of information – which includes the legislation requirements in your state, assisting owners and tenants with budgeting, insurance policies, an understanding of owner corporations, building requirements (which is especially important with so many people buying off the plan) and how to communicate with tradespeople to address maintenance and/or renovation issues. 
Finally in my experience I don’t believe “x” number of years makes a good property manager, as there are some who have been in the industry for 20 years and haven’t attended any type of training since the dawn of time. So when it comes to appointing a property manager to look after your property, look for someone who can think outside the square, who will go the extra mile for you when things go pear-shaped, has a passion for the industry, someone who regularly updates his or her skills and knowledge and is not afraid of technology or change.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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What to look for in a property manager

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

Joel Robinson

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

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<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

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Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Leah Calnan

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