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Only a handful of apartments remain in Ceerose’s boutique Eliza complex on Elizabeth Street, located opposite Hyde Park.
Featuring a serpentine-sculpted Tony Owen-designed façade, Eliza features 19 apartments across 17-storeys.
"We are creating a building with an architectural point of difference that does justice to this landmark site in arguably Sydney’s most beautiful street,” says Edward Doueihi, director of Ceerose.
“We have no doubt Eliza will be the finest residential building in the CBD, and we hope it inspires other developers to dare to be different.”
Level one to five features 10 half-floor two-bedroom apartments, which were all sold off the plan for around $2 million each.
The majority of early off-the-plan purchasers were owner-occupiers, including some expats who will use the apartment as their Sydney base.
The upper levels feature eight four-bedroom apartments, each occupying an entire floor and harbour views.
The seven remaining four-bedroom apartments are around 200 square metres and start from $4 million.
 A three-level four-bedroom penthouse is also up for grabs for around $15 million.
The penthouse includes a rooftop level, boasting an infinity edge pool, limestone paving, hardwood timber decking and an outdoor kitchen and entertertaining facilities.
Eliza apartments feature floor to ceiling windows, fireplaces and full-height timber-paneled walls, which were handcrafted in Spain by Porcelanosa.
Kitchens boast limestone floors and Calcutta marble benchtops and splashbacks.
“Many people want to escape the maintenance chores of a house and like the idea of moving into a lively location, but most baulk at the thought of multi-unit developments where noise can be an issue and privacy can be compromised,” says John McGrath.
“Eliza offers the perfect compromise so that their transition from a family home into strata living is as seamless as possible.
“Secured lifts only stop at authorised floors, opening onto a private vestibule within the full floor apartments.
“The high ceilings and full-height glazing accentuates the feeling of spaciousness and allows residents to entertain in a style previously only the domain of large houses,” says McGrath
The Eliza building also boasts a nine-storey wall of evergreen climbing plants at its rear.
“Eliza has a unique external character yet its interiors are timeless, capturing the spirit and sophistication of those grand buildings fronting Central Park in New York and Hyde Park in Knightsbridge,” says Nigel Napoli of Savills Residential Projects.
Eliza is scheduled for completion in November this year.
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Tony Owen-designed Eliza Apartments to grace Hyde Park

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The Supreme Court precinct in Victoria Square is to be transformed into a vibrant legal and commercial precinct, with an expression of interest campaign running to target private sector developers.
"There is an opportunity to use the Supreme Court asset at the corner of King William and Gouger Streets to achieve the best possible outcome for taxpayers,” says Attorney-General John Rau.
Rau says a needs analysis shows court facilities in the Sir Samual Way and Supreme Court buildings are nearing the end of their useful life.
Rau says the transformation will deliver a more efficient justice system, assisted by state of the art technology such as video links and paperless litigation.
“It’s about capitalising on the strong position this prime city real estate gives us to attract private sector investment in a commercial development that supports the modern legal system we need much sooner than may other be possible,” says Rau.
Infrastructure minister Tom Koutsantonis says a privately financed project of this scale has the potential to deliver significant economic benefits and some 1,500 construction jobs.
“In other capital cities in Australia there are impressive examples of integrated court precincts,” says Koutsantonis.
“With the Adelaide Magistrates Court on the opposite corner of Victoria Square, South Australia would be unique in being able to provide a fully integrated precinct.
“Working with the site we have at the top of Gouger Street, I’d like to think that we could create the best Courts precinct of its kind in Australia.
“The call for Expressions of Interest will be an opportunity for the private sector to demonstrate what they can bring to the process of transforming this important part of the City,” says Koutsantonis.
The <a target="_blank" href="https://www.tenders.sa.gov.au">Expression of Interest campaign</a> will close in November this year.
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Victoria Square Supreme Court Precinct seeks developers for transformation

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Following the recent success of the Eden and Haven complexes in Hamton’s $410 million riverside village precinct in Abbotsford, the next and final project, Sanctuary, has been launched.
The $117 million Sanctuary will feature 193 one-, two- and three-bedroom apartments across 12 storeys.
Sanctuary is already 30% sold two weeks after launch.
The joint venture between Hamton and ISPT boasts designs by ROTHELOWMAN and landscaping by Tract Consultants and David Engwicht.
“This is one of the very last opportunities available to enjoy the best of riverside living,” says Hamton joint managing director Paul Hameister.
“The offering at Haven and Eden has been well received by a range of buyers particularly Melbourne’s elite downsizers from neighbouring suburbs of Hawthorn and Kew who are seeking a premium lifestyle alternative,” says Hameister.
Having launched in 2011, Eden has one apartment left and Haven has six apartments left for sale.
“We anticipate a similar response for Sanctuary who will be attracted to an exclusive lifestyle with enviable views of the Yarra River, surrounding treetops and the city,” says Hameister.
One-bedroom apartments range in size from 41 square metres to 58 square metres internally and range in price from $365,000 to $587,000.
Two-bedroom apartments range in size from 56 square metres to 130 square metres internally and range in price from $570,000 to $999,000.
Three-bedroom apartments range in size from 95 square metres to 197 square metres internally and range in price from $980,000 to $1.95 million.
Residents will have access to a health and wellbeing retreat, with a lifestyle team on hand to provide services such as personal training, yoga classes, beauty services and massages.
Located at 681 Victoria Street, the project has deliberately created a <a target="_blank" href="/news">public thoroughfare</a> to the <a target="_blank" href="https://www.propertyobserver.com.au/developments/hamton-s-riverfront-homes-the-latest-in-abbotsford-living-as-melbourne-suburb-sheds-industrial-past/2012121858496">Yarra River</a>, incorporating the shops, restaurants and cafes as well as pedestrianised pathways around the site.
One of the key features of the development is a publicly accessible “pedestrian line between Victoria Street and the Yarra River trail” with the aim of “bringing the tranquillity of the river corridor up to Victoria Street”.
The pedestrian street acts as a place for both the public and residents to meet as well as being the main point of access to each residential lobby.
“This unique pocket of Abbotsford is a secure investment, positioned between some of Melbourne’s most highly sought after suburbs – the growth potential and proximity to quality amenity is undeniable.
“We are proud to deliver Sanctuary not only because of the lifestyle it offers to residents but its quality offering in a tranquil setting, developed with sustainability at the fore,” says Hameister.
Sanctuary is expected to be completed by late 2015.
Construction is complete on Eden and Haven is scheduled to be completed in February 2014.
The median apartment price in <a target="_blank" href="/news">Abbotsford</a> is $590,000, a 59.5% change in the past five years, according to RP Data.
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Final installment launched in Hamton's $410 million riverside village precinct

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The AFL Grand Final has had a large affect on auction schedules this week, with only 1,123 auctions scheduled across the capital cities, according to RP Data.
There were 2,072 auctions held across the nation last week, almost identical to the previous week with 2,073 auctions.
The clearance rate slightly increased last week to 76.2%, up from 72% the previous week.
At the same time last year the clearance rate was much lower at 56.5% and 1,733 auctions were held.
Melbourne is to be affected the greatest from Saturday’s match, with only 64 auctions scheduled.
Last week Melbourne held a revised figure of 927 auctions, and 975 the previous week.
Melbourne’s preliminary clearance rate was 76.9% last week, up from 72.5% the previous week.
At the same time last year there were 754 auctions and the clearance rate was 60%.
Sydney is continuing it’s busy selling season, with 829 auctions scheduled this week.
Sydney held a revised 744 auctions last week and 805 the previous week.
Sydney’s preliminary clearance rate was 88.4% last week, up from 79.7% the previous week.
At the same time last year Sydney held 671 auctions and had a clearance rate of 59.2%.
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Melbourne auctions put to the sideline for AFL Grand Final weekend: RP Data

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If you’re looking for a sea change but not sure where to go, you could live on your very own secluded island for just $850,000.
<a href="https://www.privateislandsonline.com/islands/temple-island-australia" target="_blank">Temple Island Australia</a>, located in Cape Palmerstone, is the cheapest island currently on the market for $850,000.
Spanning 8.7 hectares, the island includes a four-bedroom home and a private airstrip.
Temple Island (pictured below) is leasehold and has 20 years left before the lease needs to be renewed.
{yoogallery src=[images/stories/2013/09/24/temple]}
 
If you have a bit more cash to splash, you could buy <a href="https://www.privateislandsonline.com/islands/turtle-island-australia" target="_blank">Turtle Island</a> – located off the coast of Gladstone – for $5 million.
The island – featuring a four-bedroom, five-bathroom home has been on the market for three years, with two sales falling through.
It has previously attracted the likes of Clive Palmer and Geoffrey Edelsten, and even Julia Roberts was supposedly outbidded in 1999.
A Sydney couple bought the 9.21-hectare Turtle Island (pictured below) for $3 million in 1999.
The island was developed by horse-racing identity Bob Bentley, who bought it in 1994 for $300,000.
Turtle Island also includes a pool, private jetty and a helipad.
{yoogallery src=[images/stories/2013/09/24/turtle]}
 
A resort on the largest island on the Great Barrier Reef – <a href="https://www.privateislandsonline.com/islands/hinchinbrook-island" target="_blank">Hinchinbrook Island</a> (pictured below) – is also up for grabs for $4.5 million.
The eight-hectare leasehold at Cape Richards is located half way between Cairns and Townsville and is on a leasehold of 50 years.
The Resort can cater up to 50 guests per night in eight beach cabins and 15 treetop bungalows.
The island was used to film the 2008 children’s movie “Nim’s Island”, which starred Jodie Foster.
The island is currently undergoing rejuvenation and comes with a permit to commercially snorkel and dive in the coral reef on the adjacent island.
The sale also includes a ferry that can transport 120 persons.
{yoogallery src=[images/stories/2013/09/24/hitch]}
 
A resort on the 40.5-hectare <a href="https://www.privateislandsonline.com/islands/south-molle-island" target="_blank">South Molle Island</a> in the Whitsundays could be yours for $30 million.
South Molle Island is the only commercial island in the Whitsunday Islands and includes the Adventure Island Resort, which currently caters to back-packers.
The freehold resort offers the opportunity for re-development, including a new marina.
South Molle Island (pictured below) can be accessed via boat or air from Hamilton Island international airport.
{yoogallery src=[images/stories/2013/09/24/molle]}
 
Poll results:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/09/25/poll-results-sept-25.jpg" alt="poll-results-sept-25" width="470" height="304">
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Searching for your own slice of paradise? Private islands priced from $850k

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An architecturally designed-David Walker home in Vaucluse sold under the hammer for $5.15 million, making it this week’s most expensive sale, according to RP Data.
Located at 54 Olola Avenue, the five-bedroom sold on September 17.
The double level residence features four bathrooms, an atrium style entry, high ceilings, timber floors and wool carpets.
Situated on 759 square metres, the property also includes an entertaining terrace and pool with harbour views.
The home last traded in 1988 for $1.15 million.
Listing agent David Greenblo says the 1930s or 1940s home has undergone a significant transformation, making it now unrecognizable.
The property was listed with <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/297461" target="_blank">Martin Maskin and David Greenblo of Raine &amp; Horne Double Bay.</a>
The median house price in <a href="/news">Vaucluse</a> is $2.78 million, a 13.1% decline in the past five years, according to RP Data.
Most expensive sales:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/54_olola_avenue_vaucluse_nsw_2030/7144881" target="_blank">54 Olola Avenue, Vaucluse, NSW, 2030,</a> five-bedroom house, sold at auction on September 17 by Raine &amp; Horne Double Bay for $5.15 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_mansion_road_bellevue_hill_nsw_2023/1369718" target="_blank">20 Mansion Road, Bellevue Hill, NSW, 2023,</a> five-bedroom house, sold on September 19 by BradfieldCleary Real Estate for $4.2 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/231_burke_road_glen_iris_vic_3146/11068812" target="_blank">231 Burke Road, Glen Iris, VIC, 3146,</a> five-bedroom house, sold at auction on September 21 by Abercromby's Real Estate Armadale for $3.705 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/116_stanhope_street_malvern_vic_3144/11582147" target="_blank">116 Stanhope Street, Malvern, VIC, 3144,</a> five-bedroom house, sold at auction on September 21 by Marshall White Real Estate Armadale for $3.475 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/89_claremont_avenue_malvern_vic_3144/11575599" target="_blank">89 Claremont Avenue, Malvern, VIC, 3144,</a> four-bedroom house, sold at auction on September 21 by Marshall White Real Estate Armadale for $3.22 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_ryeburne_avenue_hawthorn_east_vic_3123/11201831" target="_blank">28 Ryeburne Avenue, Hawthorn East, VIC, 3123,</a> four-bedroom house, sold at auction on September 21 by Marshall White Hawthorn for $3.175 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_mermaid_avenue_maroubra_nsw_2035/4046320" target="_blank">21 Mermaid Avenue, Maroubra, NSW, 2035,</a> five-bedroom house, sold at auction on September 21 by Home Estate Agents Bronte for $3.01 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/47_drummond_street_carlton_vic_3053/10276948" target="_blank">47 Drummond Street, Carlton, VIC, 3053,</a> four-bedroom house, sold at auction on September 21 by Woodards Real Estate Carlton for $2.935 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/78_middle_harbour_road_lindfield_nsw_2070/3771351" target="_blank">78 Middle Harbour Road, Lindfield, NSW, 2070,</a> four-bedroom house, sold at auction on September 21 by Belle Property Killara for $2.78 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/107_finch_street_malvern_east_vic_3145/11591340" target="_blank">107 Finch Street, Malvern East, VIC, 3145,</a> four-bedroom house, sold at auction on September 21 by Marshall White Real Estate Armadale for $2.7 million
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David Walker-designed Vaucluse home most expensive sale: RP Data

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Major opportunities should arise for urban renewal following the $11.5 billion WestConnex motorway solution under Parramatta Road, says Urban Taskforce.
“The best time to drive major urban renewal is when large infrastructure projects like WestConnex are under way,” says Urban Taskforce CEO, Chris Johnson.
The 33-kilometre WestConnex motorway will link Western Sydney and South Western Sydney with the city, airport and Port Botany.
The government forecasts 25,000 new homes and 25,000 new jobs will be created over the next 20 years, but Urban Taskforce says these figures can be significantly increased with appropriate densities and heights.
“The Urban Taskforce believes that this corridor can accommodate 100,000 new apartments and 100,000 new jobs and that there are many sites available for redevelopment now.
“There is real opportunity for the NSW Government to champion a new direction for urban renewal by defining a 21st century approach to zoning, to encourage mixed use development that lead’s to a dynamic urban environment.
“There is a big trend in Sydney towards urban living in apartments and if this is linked with work locations and community amenities, we can handle significant parts of our growing population along Parramatta Road,” says Johnson.
Meanwhile, Raine &amp; Horne says the construction of the WestConnex motorway will result in a 10% to 15% jump in real estate values in concord.
“This announcement is a great initiative as it will address major traffic congestion in and around the entrance to the M4, and also free up secondary roads between Concord and Haberfield such as Queens Road, Lyons Road and Parramatta Road,” says principal of Raine &amp; Horne Concord Paul Pettenon.
“The WestConnex will result in quiet streets and much faster travelling times to the city, which will help drive up values in and around Concord.
“In a hot market like we currently have, we could easily see prices jump in Concord on the back of this announcement by 10–15% over the next 18 months, with more tempered growth as the completion of the project draws closer,” says Pettenon.
Work on the motorway will start in mid-2015 with a scheduled 2019 finish date.
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Sydney's WestConnex motorway to offer major urban renewal opportunities but Concord prices to jump

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On this week’s episode of Location Location Location, the theme of the episode focuses on money and budgets.
Host Bryce Holdaway says the Melbourne market has been in the slow lane for the last couple of years, but due to the change in interest rate it now means money is cheap and confidence is high.
{qtube vid:=_4juGXENkqM}
Veronica Morgan is helping single mum Wendy find a property in the inner city with a budget if $1,050,000.
“In Melbourne, quite often the price guides are really hard to work with,” says Holdaway.
“Because sometimes properties can go for 15% to 20% over the lower range of the price guide.
“As you know with Melbourne price guides to get a property for $1,050,000, I have to show her [Wendy] properties in that mid-$800,000 to $900,000 range, because then when it runs away, it will go to her top end of the budget.
“Jumping over that $1 million mark is quite an unusual range, because once people jump over it can run away quite quickly in this competition,” says Holdaway.
Couple Marty and Jude, have a budget of $675,000 and want something that is large enough for a dog and close to the café culture.
After a bit of a hunt, they are presented with a property in <a href="/news">Thornbury</a> with an asking price of $640,000 plus for its forthcoming auction.
“I always say you can go about 15% above the lower range to give you a good idea,” says Holdaway – this pushes the price up past $720,000.
“I understand it’s a really scary thing, you have a budget set in your mind and you should honour that, but sometimes it’s worth stretching the budget,” says Holdaway.
Marty and Jude pushed their budget to $780,000.
The property ended up selling under the hammer for over $800,000.
The next episode of Location Location Location airs on Wednesday September 25 on the Lifestyle Channel.
You can read last week’s lessons <a href="https://www.propertyobserver.com.au/news/look-outside-the-square-property-lessons-from-location-location-location-australia/2013091164828" target="_blank">here</a>.
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Melbourne price guide lessons from Location Location Location Australia

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Some 30% of apartments have already been snapped at The Andalusian, the latest development to grace Melbourne’s leafy suburb of Balwyn.
The six-storey development by Spec Property will comprise of 65 one-, two- and three-bedroom apartments ranging from $359,000 to $1.5 million.
One-bed apartments range in size from 45 square metres to 66 square metres internally.
Two-bedroom apartments range from 65 square metres to 129 square metres and three bedders range from 111 square metres to 153 square metres.
Located at 182 Whitehorse Road, residents on level four and above will have views towards the city and Macedon ranges and will be able to design their ideal home with over 1,400 possible combinations of personal touches available.
Designed by Internal, apartments feature veneer surfaces, ceramic gloss beveled tiles, black chrome tap ware, wool carpets and porcelain bench tops in the kitchen.
The development will also include a resident’s lounge, reading room and dining table, as well as a BBQ terrace with an outdoor kitchen.
Tanya Sanchez of Synergy BSM says over 95% of sales have been to owner-occupiers, due to the fact that buyers can customize their apartment.
The Andalusian is only <a target="_blank" href="https://www.propertyobserver.com.au/victoria/balwyns-school-zone-continues-to-draw-asian-buyers/2013031158731">being sold locally</a>.
“We don’t want to take our development offshore because we’re not targeting an investment market,” says Sanchez.
<a target="_blank" href="https://www.theandalusian.com.au/">The Andalusian</a> was officially launched on August 4 and has a scheduled completion date of mid-2014.
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Balwyn's The Andalusian targets owner-occupiers with customised floor plans

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Melbourne’s Thomastown is proving to be popular with first-home buyers and investors, with more affordable properties on offer than its neighbouring suburb Reservoir, says Harcourts Thomastown and Epping Director Tony Lombardi.
Located 17 kilometres North of the Melbourne CBD, the median house price in <a href="/news">Thomastown</a> is $370,000, a 23% growth in the past five years, according to RP Data.
Four kilometers closer to the city is <a href="/news">Reservoir</a>, with a median house price of $460,500, a 19.6% change in the past year.
Lombardi says he has seen more sales in Thomastown than at any point in the last two years, with a 100% clearance rate for auctions in the past four weeks.
“All the indicators have been climbing steadily over the past few months but in the last four weeks it has been clear that buyers are now out in force and more people are looking to commit to buying rather than just looking for the elusive bargain,” says Lombardi.
Lombardi says the number of contracts and vendor statements being sent out in the Thomastown region, including Epping and Lalor, has nearly doubled in the past month.
Lombardi says Thomastown’s affordability and proximity to the city are the two major factors that are attracting buyers in today’s market.
“There have been two specific types of purchasers; first-home buyers who are basically buying either a new unit of a smaller sized home or investors.
“Investors have accounted for 50% of sales in the past few weeks,” says Lombardi.
A five-bedroom home at <a href="https://www.realestateview.com.au/Real-Estate/61-main-street-thomastown/Property-Details-sold-residential-5868891" target="_blank">61 Main Street</a> (pictured below) sold under the hammer on August 31 for $510,000 - $150,000 above its reserve.
{yoogallery src=[images/stories/2013/09/18/thom1]}
A four-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-thomastown-114589099" target="_blank">17 Lantana Avenue</a> (pictured below) sold under the hammer on September 14 for $102,000 above its reserve price.
{yoogallery src=[images/stories/2013/09/18/thom2]}
Lombardi says these properties aren’t an example of over-quoting but are located in a sought after area of Thomastown an are an example of a competitive market.
“These properties are located near the new YMCA aquatic centre, they’re walking distance to the train station and shops… location wise, they’re in one of the most sought after areas.
“They attracted around 100 to 150 people at auction,” says Lombardi.
The median apartment price in Thomastown is $293,500 and the median rent is $285, reflecting a yield of 5%.
The median apartment price in Reservoir is $352,500 and the median asking rent is $300, reflecting a 4.4% yield.
“I’ve had a lot of buyers saying they need to get into Thomastown soon, or else they’re going to be priced out of the market.
“I have a feeling the market is going to grow and I believe house prices will grow as a result.
“During the next three to six months I’m forecasting a steady increase in price growth,” says Lombardi.
Harcourts Thomastown and Epping have 56 auctions booked between now and Christmas, with more expected to be scheduled.
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Melbourne's Thomastown popular with investors and FHBs

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.

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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.

[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.

Nicola Trotman

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