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A Lane Cove property will go to auction this week for the first time in more than three decades.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
In Sydney Kerrie Robertson from LJ Hooker will offer 28 Coolaroo Road, Lane Cove, to the market for the first time in more than 30 years. The deceased estate sits on more than 700 square metres of land and represents a great opportunity for a family who are looking for something comfortable now but are happy to renovate down the track.
The property comprises three bedrooms and a lock-up garage under the house and is walking distance to parks and shops. Bidding is expected to start at $950,000 and move up from there.
<img src="/images/stories/2012/11/coolaroo.jpg">
 
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marmstrong-sd3emVLPPb

Sydney auction tipping: Great opportunity for a family in Lane Cove

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The vendors of a single-fronted terrace in Carlton North will try to double their investment this weekend. 
There’s a website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank" rel="nofollow">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a> The winner of the overall competition will win $1,000.
A perfect, wider-than-normal single-fronted terrace at <a href="https://www.realestate.com.au/property-house-vic-carlton+north-112091651" target="_blank">213 Station Street, Carlton North</a>, goes under the hammer on Saturday. The three-bedroom home has been fully renovated to maximise space and natural light and to offer all the attractions of a low-maintenance lifestyle. The blue-chip address is close to Rathdowne Village and Curtain Square, and within walking distance of the CBD.
It has been 10 years since the property was offered to the market and last time it fetched $415,000 at auction. This time agent Tom Roberts from Nelson Alexander expects the property to sell for $800,000 to $880,000.
<img src="/images/stories/2012/11/stationst.jpg">
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Melbourne auction tipping: Single-fronted terrace in blue-chip Carlton North

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The Melbourne and Sydney properties featured on Property Observer in this week's auction tipping competition failed to perform at auction. 
There’s a website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank" rel="nofollow" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a> The winner of the overall competition will win $1,000.
Although a lot of buyers fell in love with "Waterfall Art Deco" at 1 Laurencia Court, <a target="_blank" href="/news">Mont Albert</a> (pictured below), there was something holding the buyers back and the auction failed to gain any traction. 
<img src="/images/stories/2012/11/laurenci.jpg">


Auctioneer Steven Abbot from Jellis Craig was forced to open the auction with two vendor bids before he went inside for the half-time break. When he came back out to restart the auction holding a vendor bid of $1.3 million,  he was offered the one and only live bid $60,000 below that figure. The property was passed in and now has a reserve in excess in $1.4 million. 

You can view the auction highlights on our <a target="_blank" href="https://propertytycoon.createsend1.com/t/r-l-kuituty-ekdeljiy-j/">Facebook</a> page. In Sydney the view is great but unfortunately the $2.5 million price tag was too much for buyers at 15 Shackel Street, <a target="_blank" href="/news">Clovelly</a> (pictured below), and when no one registered an intention to bid the property was withdrawn. 
<img src="/images/stories/2012/11/shackel.jpg">
When you bid at an auction it means you must be in a position to sign an unconditional contract. Although there were a couple of interested parties that turned up on the day none was in a position to sign an unconditional contract.

Daniel Gillespie from Belle Property is confident the property will sell in the coming days.

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Something holding back buyers at Melbourne and Sydney auction tipping properties

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The problem with a million-dollar view in Sydney is it now costs a lot more than $1 million.
There’s a website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank" rel="nofollow">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a> The winner of the overall competition will win $1,000.
<img src="/images/stories/2012/11/shackel.jpg">
To get the view that million-dollar view <a href="https://www.realestate.com.au/property-house-nsw-clovelly-111965679" target="_blank">15 Shackel Avenue, Clovelly</a>, has on offer you will first need more than $2.5 million just to get your hands on the land. From there you will drop another million to build a two-storey home and then you will truly have a spectacular million-dollar view.
This <a target="_blank" href="/news">Clovelly </a>property is certainly what you would call tightly held. It was purchased by the current owner back in 1974 for $49,000 and has been an outstanding investment. If it does crack $2.5 million as Daniel Gillespie from Belle Property expects it will have shown an annual compound growth rate over 10%.
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Sydney auction tipping: Million-dollar view in Clovelly, for three times the price

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The vendors of a Mont Albert property going to auction this weekend hope a significant renovation entices $1.2 million-plus buyers.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
They just don't build them like <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/1-laurencia-court-mont-albert/Property-Details-buy-residential-4587709">1 Laurencia Court, Mont Albert</a>, anymore. This “Waterfall Art Deco” property was built in 1946 and features an original iron curved staircase. The five-bedroom home is full of character and is located at the end of a quiet <a href="/news">Mont Albert</a> court.
<img src="/images/stories/2012/11/laurenci.jpg">
The current owners purchased the property in 2004 for $613,000 and have made significant cosmetic improvements to the property including an alfresco space that includes a heated below-ground pool. Tom Ryan from Jellis Craig says this property has really struck a chord with a lot of buyers and expects the property will sell in excess of $1.2 million.
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Melbourne auction tipping: Character-filled Art Deco home in Mont Albert

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Last Saturday a great piece of blue-chip real estate went under the hammer in <city><place>Melbourne,</place></city> but most of the market was completely unaware. The majority of people think if it’s blue chip it must be expensive; however blue chip really means an asset that has constant demand and price stability regardless of the price point.
Which property?  <a href="https://www.realestate.com.au/property-apartment-vic-armadale-111894799" target="_blank">15/7 Sutherland Road, Armadale</a>.
This property was nothing flash. It was one-bedroom apartment in a very tired condition, some might say dilapidated, but it did appeal to many buyers in the market. While the crowd was not huge the auction was very competitive with six bidders competing before it finally sold for $375,000.
You can <a href="https://www.facebook.com/photo.php?v=307643982681553" target="_blank">watch auction highlights here</a>.
This is not a one-off result in this street, as in June this year another one-bedroom apartment at <street><address>
<a href="https://www.realestate.com.au/property-apartment-vic-armadale-110572281" target="_blank">12/48 Sutherland Road</a>, </address></street><a href="/news">Armadale</a>, sold at auction for $386,000.
When we dig a bit further we find these types of properties have not only held their own but have excelled in a sluggish market. In August last year a one-bedroom apartment in the exact same block<a href="https://www.realestate.com.au/property-apartment-vic-armadale-107574513" target="_blank"> at no 48</a> that was similar in every way – top floor, car parking, same floor plan and in good condition – sold for $345,000. The investor who secured this property last year has experience a 9% gain in 12 months.
This example illustrates the fact that even in a market where property values are falling some are still growing.
Many people view the median growth rate as a definitive indicator of what the market is doing. However while the median growth is a good indicator of long-term trends it fails as a useful tool when selecting an individual asset. This is because the median represents the midpoint of growth rates over a series of properties. Logic suggests that half the properties in the market will out perform the median while the other half will under-perform.


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One of the reasons these apartments have held their own is because of the underlying characteristics of <a href="/news">Armadale</a>. According to the 2011 census 53% of properties in Armadale are owner-occupied and 60% of these owner-occupiers have no debt on their home at all. In a suburb where the median value of a house is around $1.5 million that is a lot of equity.
Further, investors control 44% of all property in Armadale, and while most of these owners may have debt on their property, it is inexpensive debt to carry because rental income and negative gearing offset the cost
This balance of cashed-up home owners and investors means there is more likely to be consistent demand in this market.
On the supply side we find level of new stock coming onto the market is restricted by a scarcity of land and onerous town planning regulations. The 2011 census shows a modest 2% growth in dwellings in Armadale over the last five years.
This compares with areas such as <a href="/news">Port Melbourne</a>, where town-planning laws encourage development, which had 6% growth. While <a href="/news">Point Cook</a>, where land is in abundant supply, had an increase in private dwellings from 4,962 in 2006 to 11,525 in 2011, a massive 132% jump.
The upshot is these one-bedroom apartments have benefited from being in a suburb that has strong, consistent demand from both home buyers and investors in addition to restrictions in supply. These properties were also affordable and in a location that provides a great lifestyle.
The property market is driven by many factors including affordability, lifestyle, location and investment potential. When a property ticks all these boxes and is in limited supply it is more likely to be blue chip regardless of its price point.
Mark Armstrong is a director of <a target="_blank" href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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Seek out the blue-chip Melbourne property investment suburb. And at under $400,000 it's not expensive: Mark Armstrong

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The sale of 11 Struan Street, Toorak, has been a long, drawn-out affair for its owner. Earlier in the year the property was sold for $3 million, but the purchaser was unable to settle on the property. So when an offer just above $3 million was put on the table late Friday afternoon the vendors jumped at it and the auction was cancelled.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a target="_blank" rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
<img src="/images/stories/2012/11/struan.jpg">
The exact sale price for the <a href="/news">Toorak </a>property (pictured above) has been undisclosed, but RT Edgar agent Anthony Grimwade says it was somewhere between $3 million and $3.1 million.
One property that did go through to auction this weekend was <a target="_blank" href="https://www.realestate.com.au/property-warehouse-vic-fitzroy-111921555">5/108 Moor Street, Fitzroy.</a>
The warehouse apartment had a mixed-use zoning, which made it enticing to both home buyers and those who were looking for a funky warehouse office.
While three bidders entered the fray throughout the auction it was only two who did most of the heavy lifting.
After the half-time break the property was declared on the market at $651,000 and was sold after a flurry of bidding for $684,000.
You can watch the auction highlights <a target="_blank" href="https://www.facebook.com/photo.php?v=307648876014397">on our Facebook page.</a>
There were so many bidders putting up their hands at 4/75 Kirribilli Avenue, <a href="/news">Kirribilli</a> (pictured below), that most people lost count, but let's just say it was more than 10. The extremely scarce piece of real estate had been very well inspected, and more than 1,700 people had viewed the property on realestate.com.au.
<img src="/images/stories/2012/11/kirr.jpg">
The lack of car parking was not a concern for the crowd as the bidding flew past the $500,000 reserve before settling at $529,000.
It maybe a few years before we see another one like this come onto the market.
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Toorak auction tipping competition property sold before auction, and a flurry of bidding in Kirribilli

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I am often staggered by the property bubble debate and how many believe the answer is black or white, we either definitely do or definitely don’t have one. The debate is a futile exercise, however, as it fails to recognise there are different sub-markets at play at any one time. Those who are arguing a bubble exists are just as correct as those who think there is no bubble. Often they are looking at different indicators that provide a different perspective of a completely different area of the market.
For example, for many years now we have had drummed into us by international economists that there must be a property bubble in Australia because the median price of property is a such and such multiple of the average wage. This is an extremely general statement and while technically true in an economist’s hands, virtually irrelevant to a person who earns five or 10 times the average. It is even less relevant to a home owner who bought a house back in the 1980s and only owes $12,768.
Now we are starting to hear the argument that because auction clearance rates are on the up this is a clear sign of no bubble. But there is a massive hole in this point because according to the REIV 70% to 80% of property is not sold at auction in Victoria, and the percentage of property sold by private treaty is even higher in other states.
However, clearance rates are a good indicator of a very small sector of the market where auctions are prevalent, and they do give great insight into where the market will find its feet first.
Confidence returns to the safe and more established markets first. These are markets that tend to have low levels of debt and lots of equity. For example, property that was purchased more than 20 years ago has quadrupled in value. A property purchased for $200,000 is now worth $800,000. Even if the owner did not pay off a single dollar of debt he or she would have $600,000 worth of equity. It is this equity that allows confidence to bloom earlier than the rest of the market.
 
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However, even in these areas the property market has come off by around 5% to 10% over the last couple of years. As confidence returns I expect this slack will be taken up very quickly, and some punters may get caught off guard and end up chasing the market.
 
This is because most people value property based on what they think it is worth, but the value of property in auction markets is determined purely by what the market is prepared to pay.
To get a clear understanding of the market it is not only essential to know what similar properties in a particular area have been selling for but also how many underbidders there were and at what level they stopped competing. The buyers who missed out on the last property will be your competitors for the next one, and they will be the ones who drive price growth.
Let's take a look at an example of an investor or home buyer who finds the perfect property. She bases the value on what she thinks is a fair price in the current market. The property is due to be auctioned and she decides on an upper limit prior to the auction, in this case $600,000. As the auction progresses she soon realises there are others who are prepared to pay more, and the property sells for $610,000.
A couple of months go by before our buyer finds another comparable property. She reasons that because the last one sold for $610,000, this one is worth the same. However, she fails to understand this sale is now a couple of months old and the market has moved on. Once again she fails to secure the property, as this time it sells for $620,000.
These buyers are now falling into the trap of chasing the market. They are basing their purchase price limits on what happened in the past, and in a growing market they will continually miss out.
While it is never a good idea to overpay for property, as the market begins to move if you are always a step behind the market you could end up paying a lot more or worse still, miss the boat altogether.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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As the property begins to move, some buyers could miss out if their price expectations stay too low

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A Kirribilli unit with no car parking will test the blue-chip locale this weekend.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a target="_blank" rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
In Sydney the only potential hiccup for 4/75 Kirribilli Avenue, <a target="_blank" href="/news">Kirribilli</a>, is the lack of car parking. However agent Catherine O'Neill from Laing &amp; Simmons is not too concerned about the car parking as there is no need in this bluest of blue-chip locations.
The one-bedroom apartment occupies prime Sydney Harbour waterfront land and is only a short walk to Kirribilli village, Milsons Point train station and ferry. The new owner will have plenty of houseguests this New Year’s Eve with prime firework viewing position.
The deceased estate has attracted strong interest from buyers with more than $450,000 to spend.
<img src="/images/stories/2012/11/kirr.jpg">
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Auction tipping: No parking in the bluest of blue-chip Kirribilli locations

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There are many things that give agents headaches when trying to sell a property, but trying to re-sell a property that has just sold is one of the hardest hurdles to overcome.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
The agent will have to resell 11 Struan Street, <a target="_blank" href="/news">Toorak</a>, which sold privately in May this year for $3 million, but the purchaser was unable to complete settlement. The issue is the bar has now been set, and any price under $3 million will be a disappointment for the vendor.
<img src="/images/stories/2012/11/struan.jpg">
RT Edgar agent Anthony Grimwade has indicated most interest is coming from developers, who are keeping their cards close to their chests. They do not see a huge amount of value in the house, it is the almost 800-square-metre block of prime Toorak land they have their eyes on.
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Melbourne auction tipping: An attempt to resell in Toorak

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>.

[smartcode_project_cta:default project_id=151449]

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."

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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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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.

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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.

Mark Armstrong

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