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Some 2.5 million residential properties in the United States have returned to a state of positive equity during the second quarter of 2013, knocking the national figure down from 9.6 million to 7.1 million homes with negative equity, according to CoreLogic. 
The total number of mortgaged residential properties with equity stands at 41.5 million.
Approximately 10.3 million residential properties have less than 20% equity, referred to as “under-equated”, which means owners may have a difficult time obtaining new financing for their homes due to financing constraints.
The national combined value of negative equity was US$428 billion at the end of the second quarter, compared to US$576 billion at the end of the first quarter of 2013 – a decrease of more than US$148 billon.
“Equity rebuilding continued in the second quarter of this year as the share of underwater mortgaged homes fell to 14.5 percent,” says Dr. Mark Fleming, chief economist of CoreLogic
“In just the first half of 2013 almost three and a half million homeowners have returned to positive equity, but the pace of improvement will likely slow as price appreciation moderates in the second half,” says Fleming.
Nevada has the highest percentage of mortgaged properties in negative equity at 36.4%, followed by Florida at 31.5% and Arizona at 24.7%.
Of the largest 25 metropolitan areas, Miami, Miami Beach and Kendall, Florida, has the highest amount of mortgaged properties in negative equity at 36.5%.
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Some 7.1 million residential homes in the US still facing negative equity: CoreLogic

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The second and final release of the Green Quarter in Australand’s $500 million Hamilton Reach project has sold out, with the last residence snapped up last month for $995,000.
The final release of the <a target="_blank" href="https://www.propertyobserver.com.au/land/australand-secures-%24115-million-in-sales-in-green-quarter-precinct-at-hamilton-reach/2013013058995">Green Quarter was launched in October</a> last year and offered 10 environmentally stable terrace homes priced from $980,000 to $1.45 million.
Stage two of the Green Quarter totalled $10 million in sales, with the Green Quarter totalling $21.4 million overall.
Designed by Rothelowman White, the terraces are designed to reduce energy and water consumption.
“We combined a unique and eco-smart product to a prized riverfront location and it proved a very potent mix for buyers,” says Australand general manager Queensland residential division Cameron Leggatt.
“It is an unmatched product so far in the Northshore Hamilton area, and the robust pace of sales that we’ve experienced here reflects that,” says Leggatt. 
Leggatt says the final releases of terraces were aimed at owner-occupiers, empty nesters and older families with teenagers.
The first stage of the Green Quarter includes 12 homes, all of which have been snapped up.
Construction on the second release has commenced, with a scheduled completion date of December.
The Hamilton Reach development is located six kilometres from the Brisbane CBD in north shore <a target="_blank" href="/news">Hamilton </a>and is bordered by 530 metres of river frontage and 2.5 hectares of Northshore Riverside Park.
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Australand's Green Quarter a sell out totalling $21.4 million 

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Crown Group’s residential development Top Ryde City Living has been awarded the Presidents Award – the most sought after prize in the urban development sector - by the Urban Development Institute of Australia NSW.
The residential development was chosen from 14 projects that took away awards at the July UDIA NSW Awards for Excellence 2013.
“Located above a shopping centre, Top Ryde City Living presnts the ideal model from urban consolidation – a model that is often aspired to but rarely achieved,” says UDIA NSW President Simon Basheer.
“Crown also overcame significant logistical challengers to create quality apartments and facilities for more than 1000 people above a fully-functioning shopping centre.
“The end result is a rare model of a typology that comfortably serves a growing Sydney,” says Basheer.
The development was named the <a target="_blank" href="https://www.propertyobserver.com.au/developments/crown-s-top-ryde-city-wins-udia-award-for-high-density-living/2013073163729">best high-density development</a> by UDIA NSW in July.
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Crown's Top Ryde City wins most sought after urban development prize

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Sales in Mirvac’s Tennyson Reach community doubled in the past financial when compared to the previous financial year, with a total of 22 apartments selling, totaling $16.7 million.
In the previous financial year, Tennyson Reach sold $9.9 million worth of apartments.
Located seven kilometres south of the Brisbane CBD, the 12-hectare site comprises of three residential apartment buildings, totaling 207 apartments.
The Sofstone and Lushington building are sold out, with 14 luxury apartments remaining in the Farringfold building.
Three-bedroom apartments with river views and European appliances start from $865,000 and range in size from 207 square metres to 238 square metres.
"There are a number of reasons that we have seen such a spike in buyer demand over the past financial year," says Mirvac’s national CEO residential development, John Carfi.
"Most importantly, confidence has returned to the market, and buyers are also recognising the great value on offer here at Tennyson Reach. Buyers have also responded positively to the addition of new lifestyle amenities, including the new Buzz Cafe and the 2.9 hectare Ken Fletcher community park,” says Carfi.
Majority of sales have been to those already living in the nearby southwest Brisbane suburbs, who are wanting to make the move to a lower maintenance property.
“Many are empty nesters moving from large family homes and with all of the apartments at Tennyson Reach having a spacious luxury design, they feel they can downsize without compromising on living space,” says Carfi.
<a href="https://www.propertyobserver.com.au/queensland/brisbane-floods-force-%2480-million-downgrade-for-mirvac/2011062450599" target="_blank">Tennyson Reach was impacted by the Queensland floods in 2011</a>, with Mirvac reporting flooding to the basement of the building affecting nine ground-floor apartments and landscaped areas.
The median apartment price in <a target="_blank" href="/news">Tennyson</a> is $782,500, a 47.1% decline in the past five years, according to RP Data. 
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Mirvac's Tennyson Reach community doubles in sales

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With the federal election behind us and the busy selling season upon us, auction volumes are picking back up with 1,907 scheduled across the capital cities this week, according to RP Data.
Due to the election there were a revised 1,027 auctions last week, significantly lower than the previous week of 2,000.
The clearance rate is still strong, with a rate of 75.3% recorded last week, up from 71.5% the previous week.
At the same time last year there were 1,298 auctions and a clearance rate of 53.2%.
Sydney recorded its highest clearance rate in five years last week at 85.2%, up from 79.6% the previous week.
Sydney is scheduled to hold 719 auctions this week, up from a revised 316 last week but still not as strong at the previous week with 851 auctions.
At the same time last year the clearance rate in Sydney was much lower at 57.2% from 453 auctions.
Melbourne’s preliminary clearance rate last week was recorded at 74.4%, a slight increase from the previous week at 72.1%.
Melbourne held 518 auctions last week, much lower than the 837 the previous week, however Melbourne is scheduled to have a busy week with 914 auctions scheduled.
At the same time last year, Melbourne’s clearance rate was recorded at 55.1% from 579 auctions.
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A busy week of auctions as election falls behind us: RP Data

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A five-bedroom Edwardian style family home in Canterbury is reportedly this week's most expensive sale, selling prior to auction for $3.4 million, according to RP Data.
Located at 51 Wattle Valley Road, the circa-1900 property has been recently renovated but retains period features including high ceilings and a leadlight.
The home was scheduled to go under the hammer on September 21 with a quoted priced of $3.25 million to $3.5 million.
After spending on a week on the market, the home was snapped up.
“It’s a fabulously presented home in a fabulous location,” says listing agent Stan Katz of <a href="https://www.bekdonrichards.com.au/listings/sold" target="_blank">Bekdon Richards Hawthorn</a>.
Situated on 1,075 square metres, the property’s kitchen features a caesarstone benchtop and stainless steel miele appliances and overlooks the timber deck and inground pool.
The home was previously listed in September 2005 for $1.55 million through Cantwells Property Group.
The median house price in <a href="/news">Canterbury</a> is $1.7 million, a 5.1% change in the past five years, according to RP Data.
Victoria dominated the most expensive list this week, taking out nine out of the 10 spots.
Most expensive sales:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/51_wattle_valley_road_canterbury_vic_3126/10259460" target="_blank">51 Wattle Valley Road, Canterbury, VIC, 3126,</a> five-bedroom house, sold prior to auction on September 2 by Bekdon Richards Hawthorn for $3.4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/32_murray_street_elsternwick_vic_3185/10896414" target="_blank">32 Murray Street, Elsternwick, VIC, 3185,</a> four-bedroom house, sold at auction on September 8 by Biggin &amp; Scott Elsternwick for $3.195 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/22_seaforth_crescent_seaforth_nsw_2092/6144051" target="_blank">22 Seaforth Crescent, Seaforth, NSW, 2092,</a> four-bedroom house, sold on September 4 by Lionel Busquets Prestige - Seaforth for $2.825 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/19_crest_avenue_balwyn_vic_3103/9556633" target="_blank">19 Crest Avenue, Balwyn, VIC, 3103,</a> five-bedroom house, sold at auction on September 7 by Marshall White Real Estate Hawthorn for $2.825 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/88_manning_road_malvern_east_vic_3145/11594237" target="_blank">88 Manning Road, Malvern East, VIC, 3145,</a> five-bedroom house, sold prior to auction on September 7 by Marshall White Real Estate Albert Park for $2.53 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/18_woodside_crescent_toorak_vic_3142/13593843" target="_blank">18 Woodside Crescent, Toorak, VIC, 3142,</a> four-bedroom house, sold prior to auction on September 7 by Kay &amp; Burton Real Estate for $2.36 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_chelsea_street_brighton_vic_3186/10007010" target="_blank">7 Chelsea Street, Brighton, VIC, 3186,</a> three-bedroom house, sold at auction on September 8 by Biggin &amp; Scott Brighton for $2.285 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_landale_road_toorak_vic_3142/13584027" target="_blank">1 Landale Road, Toorak, VIC, 3142,</a> three-bedroom house, sold at auction on September 7 by Marshall White Real Estate Armadale for $2.215 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/25_service_street_hampton_vic_3188/11165742" target="_blank">25 Service Street, Hampton, VIC, 3188,</a> five-bedroom house, sold prior to auction on September 7 by Buxton Sandringham for $2.1 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/5_kilrush_street_brighton_vic_3186/10014002" target="_blank">5 Kilrush Street, Brighton, VIC, 3186,</a> four-bedroom house, sold at auction on September 7 by Nick Johnstone Real Estate Brighton for $2.09 million
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Renovated Edwardian-style Canterbury home most expensive sale: RP Data

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Orchard Piper’s $23 million Davis Avenue development in South Yarra has secured two significant sales, totaling $7.2 million. 
A three-bedroom half floor penthouse sold for $3.8 million and a four-bedroom apartment sold for $3.4 million through Richard Mackinnon and Marcus Chiminello of Marshall and White.
Located at 55 Davis Avenue, the Jolson designed complex with Eckersley-designed gardens features eight apartments and two half-floor penthouses.
Mackinnon says Davis Avenue has attracted downsizers that are young at heart and want to be in a vibrant location.
Three apartments remain, including a two-bedroom, three-bedroom and a half floor penthouse.
Remaining apartments range in size from 120 square metres to 234 square metres internally and are priced from $1.49 million to $3.995 million.
The 533-square-metre site previously housed a double-fronted Victorian house owned by psychiatrist Tony Miach.
The unrenovated brick home sold under the hammer for $1.5 million in August 2004.
Davis Avenue has an expected completion date of mid-2014.
The median apartment price in <a target="_blank" href="/news">South Yarra</a> is $541,000, a 14.1% change in the past five years, according to RP Data.
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Downsizers splash $7.2 million for two luxury Davis Avenue, South Yarra apartments

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Mirvac’s inner-city residential community Enclave successfully sold 97% of its third release in one day, totaling $17.5 million.
Located seven kilometres from the Melbourne CBD in the suburb of Ascot Vale, Enclave is a joint venture between Mirvac and Gresham.
The 10.423-hectare project launched in April, with 95% of the first release snapped up in days, totaling $35.6 million.
The June release accomplished $9 million in sales in one morning.
With the final lot in the August release under contract, all three releases are now sold out.
Some 114 lots have sold in just four months since the launch, reaching a total value of $67.5 million.
House and land packages were priced from $549,000 and land was priced from $330,000.
Mirvac CEO of residential John Carfi says Enclave has been an enormous success story for Mirvac.
“Each release has surpassed expectations, we’ve seen owner-occupiers jumping at the change to buy into this new community.
“Purchasers camped out over night to make sure they snapped up the new release, proving demand is high for inner-city real estate in Melbourne,” says Carfi.
Construction of the first stage of land and housing commenced in June 2013.
More house and land packages are to be released, but a date is yet to be scheduled. 
The median house price in <a target="_blank" href="/news">Ascot Vale</a> is $705,000, a 10.2% change in the past five years, according to RP Data. 
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Mirvac's Enclave sells out first three releases totalling around $67.5 million

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Location Location Location Australia series two, episode two aired on Wednesday night on the Lifestyle Channel.
Property Observer has plucked out key property lessons from episode two, which focused on Sydney’s upmarket eastern suburbs and inner CBD suburbs, which are quite expensive.
{qtube vid:=WL0TSq4aiak}
Andrew has been living with his brother Ian and his girlfriend Rachel for the past eight months while he shopped around for the perfect apartment.
Bryce Holdaway says Darlinghurst and Surrey Hills are very expensive and are highly competitive markets.
“There is no perfect property but there are a lot of excellent properties out there,” says Holdaway.
“ There is a subtle different but perfectionism is a bit of a disease that’s really unhealthy."
If you’re shopping around in expensive and competitive markets, Holdaway says you have to be prepared to not be so picky and when you do find a property you like, to move it on it really quickly.
Holdaway also says to look outside the square and what it can provide.
Property Observer recently reported on pricey popular suburbs and what their cheaper alternatives are in <a target="_blank" href="https://www.propertyobserver.com.au/victoria/melbourne-s-10-hidden-gem-suburbs-cheaper-than-their-more-popular-pricier-neighbours/2013082764571">Melbourne</a>, <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/sydney-s-10-hidden-gem-suburbs-priced-up-to-47-cheaper-than-their-expensive-neighbours/2013082764578">Sydney</a>, <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/subiaco-too-expensive-try-buying-in-of-perth-s-10-hidden-gem-suburbs-instead/2013082764582">Perth</a> and <a target="_blank" href="https://www.propertyobserver.com.au/queensland/brisbane-s-most-popular-suburbs-too-expensive-try-the-10-hidden-gem-suburbs/2013082964581">Brisbane</a>.
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Look outside the square: Property lessons from Location Location Location Australia

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New South Wales' top five developments of the past 50 years have been chosen by the Urban Development Institute of Australia as part of the organisations 50-year anniversary.
The developments needed to address a certain criteria including: financially viable, ground breaking and innovative, commercial or residential and must have contributed to the economic and social betterment of the community, city or state.
Lend Lease’s Australia Square took out the winning prize for the 1960s and was Australia’s tallest building until 1976.
Hooker Rex and Stockland’s Kings Langley was chosen as the top development of the 1970s and was one of the first suburbs to have water and power services placed underground to maximise open space in the suburb.
Delfin’s (now Lend Lease) Wattle Grove won the top development for the 1980s and was the first New South Wales master-planned community with unifying design, abundant landscaping and smaller-block, more affordable housing.
The Norwest Business Park, developed by Mulpha FKP and The Hills Shire Council, took out the prize for the 1990s, marking the rise of the business park in Sydney and successfully brought skilled jobs to Australia’s largest population.
Winten Property Group’s Forum at St Leonards development took out the prize for the 2000s, having revolutionized transport-orientated development through mixed-use residential office and retail space immediately adjacent to public transport.
Winten Property Group also won the <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/garry-rothwell-named-property-person-of-the-year/2011101251894">inaugural Urban Taskforce Development Excellence Award</a> in 2002 for the Forum at St Leonards.
UDIA New South Wales chief executive Stephen Albin says the decision was not an easy process for the panel of past UDIA New South Wales presidents and leading urban development professionals.
“There have been a host of outstanding and innovative projects delivered in New South Wales since UDIA’s inception in the 1960s.
“The projects that were selected, however, were at the forefront of what was being offered in the development sector at the time of their construction, and remain as relevant today as the day they were built,” says Albin.
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New South Wales' top five developments of the past 50 years

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

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

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.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[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.

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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.

[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;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<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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