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As the dust settles on last weekend's The Block Sky High auctions, the enduring question centres on the prices paid above reserve for the apartments in a former run down motel.
The  sales run down was:
Apartment 5 Trixie &amp; Johnno: $1.605 million
Apartment 4 Madi &amp; Jarrod: $1.601 million
Apartment 3 Bec &amp; George: $1.507 million
Apartment 2 Matt &amp; Kym : $1.455 million
Apartment 1 Alisa &amp; Lysandra: $1.435 million
Melbourne buyer's agent Catherine Cashmore says the marketing of the apartments were weighted towards investors with depreciation schedules and rental appraisals available.
The tax depreciation scheduled for apartment 301/142 Park Street advises purchasers could claim over $38,000 in deductions during the first full year leading to a cumulative total of $165,000 in the first five years of ownership.
However buyer’s agent Frank Valentic of Advantage Property Consulting represented owner-occupiers for each floor on <a target="_blank" href="https://www.propertyobserver.com.au/residential/just-%244000-hammer-price-difference-with-entertainment-the-winner-of-the-block-sky-high-auction-results/2013072763601">auction day</a>.
An owner-occupier who wanted to downsize bought level two and level four was rumoured to be purchased by an Albert Park local.
The quality and price of the fixtures and fittings come into question as well; with Cashmore saying they were over capitalised and coming fully furnished is a “nightmare” rather than a “blessing.”
“Unit one contains a huge double integrated fridge, an outside electric BBQ, two ovens, hydrotaps, frameless glass showers, spring-loaded cabinetry, fixed televisions all controlled by an Ipad as part of the package – and this doesn’t even touch the surface.
“The responsibility for the maintenance and upkeep of all the fixtures and fittings, as well as the furniture falls at the feet of the landlord.
“If anything breaks down, the landlord must replace the appliance ‘like for like,” says Cashmore.
However, Valentic says the furnishings are a bonus.
“It probably helped them get the result they all got, I think it’s a bonus.
“They needed to have good finishes to have people pay premium, buyers are paying for quality,” says Valentic.
It’s important to keep in mind the things owners can’t change, like the proposed plans for a three-level development next door, which will potentially disrupt the views and sunlight of level one through to three.
This is something to keep in mind for the apartments future re-sale value.
Cashmore says the space could have been utilized better than four bathrooms for a three-bedroom apartment and says the ceilings were low, which made it feel unusually compact.
For $1.2 million to $1.5 million, buyers could have purchased a single or double storey fully renovated period terrace in Albert Park, Middle Park or South Melbourne.
Cashmore says these types of property have a better chance of holding value than an old renovated motel.
However Valentic says these apartments are unique.
“They are very unique, you have a penthouse style apartment with no one else on your floor.
“It’s not easy to put a price on that,” says Valentic.
Valentic says similar sizes apartments of 200 square metres plus on St Kilda Road are around the $1.8 million mark; therefore The Block apartments are good value for money.
In terms of the reserve prices, Valentic says the reserves were set at a level that were always going to sell well.
The reserve prices were set before the renovations were undertaken and were valued by the size of the apartment, what level they were on and what views they offered.
The initial reserves prices were:
Apartment 5 Trixie &amp; Johnno: $1.4 million
Apartment 4 Madi &amp; Jarrod: $1.34 million
Apartment 3 Bec &amp; George: $1.28 million
Apartment 2 Matt &amp; Kym: $1.22 million
Apartment 1 Alisa &amp; Lysandra: $1.16 million
“The reserves were probably set lower than market value to get results and make the show positive,” says Valentic.
Cashmore was representing a client for unit one and says the $1.435 million sale price exceeded her expectations.
Valentic expected the penthouse to go for an extra $100,000 and was the bargain of the day, offering the highest potential resale value.
Valentic says level one could prove difficult to resell once the building next door goes up.
“If the apartments were sold separately the results would be different; selling five in a row like that, you’re likely to pick up a better opportunity,” says Valentic.
Peter Hay of Hay Property Group says it will be interesting to see how the apartments stand the test of time.
“I’m not so sure they will be a good long term investment, too many people got caught up in the hype, not necessarily the quality of the property,” says Hay.
Property records show the production company, Watercress, spent $6.71 million for the four-star bizMOTEL, which closed its doors in late 2012. They retain the ground floor apartment.
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ntrotman-Et3xWpamVh

Over furnished or unfurnished: The Block Sky High apartment debate

A four-bedroom tri-level home in Vaucluse is scheduled for&nbsp;August 29&nbsp;auction with a $5.5 million plus price guide.

Located at 18 Village High Road, the property is situated on 835 square metres and features courtyards, tropical gardens, a terrace and a pool.

Designed by Castlepeake Architects, the home features limestone floors, a kitchen with Gaggenau appliances, home theatre and a gymnasium.

The master bedroom boasts its own private terrace with views to the harbour.

The property also includes a private nanny&rsquo;s quarters at the rear of the property designed by architects Peter Tout and Brien Kwong.

The property last sold in February 1998 for $2.32 million.

It is scheduled to go under the hammer through Elliott Placks and Ashley Bierman of <a href="https://www.raywhite.com/nsw/vaucluse/1002809/#.UfifxeBAt6o" target="_blank">Ray White Double Bay</a>.

The median house price in <a href="/news">Vaucluse</a> is $2,780,000, according to RP Data.

Its been listed by Westfield UK,&nbsp;Europe and New markets managing director Michael Gutman and his wife, Karen&nbsp;who are trading up.

Castlepeake Architects-designed Vaucluse trophy home listed

A three-bedroom Randwick terrace sold at its July 20 auction for $1.84 million.

It was listed with a $1.7 million plus price guide and had six registered bidders on the day.

Martin Farah of N G Farah Realty says it was a great result, considering it&rsquo;s a terrace and not a freestanding cottage.

Built in 2008, the architecturally designed residence is located in the Figtree Gardens complex at 16A Frances Street.

The property features two marble bathrooms, an internal courtyard and front and rear terraces.

It also includes a rooftop terrace with city skyline views.

It is currently leased for $1,350 a week, reflecting a rental yield of 3.82%.

Theo Karangis of N G Farah Realty says the developers held onto the property as an investment after construction finished.

The median apartment price in <a href="/news">Randwick</a> is $611,000, a 26.2% change in five years, according to RP Data.

Randwick terrace soars past auction price guide

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SQM Research’s top 10 discounted properties are the same as previous weeks, but the most discounted property has extended its lead by a further 4%.
Located at 22 White Street in Bundamba, the three-bedroom home was originally listed in July last year for $425,000.
After 356 days on the market, the Queenslander-style home has slashed its price by 52% to $205,000.
SQM Research says its may well be one of the most discounted properties SQM Research has featured in its top 10.
The home is situated on 1.49 hectares and was purchased in 2006 for $250,000.
It is listed through <a target="_blank" href="https://www.raywhite.com/qld/bundamba/820005/#.UfiDSuBAt6o">Linh Vo of Ray White Darra</a>.
The median house price in <a target="_blank" href="/news">Bundamba</a> is $247,000, a 10.2% price decline in five years, according to RP Data.
Queensland properties continue to dominate the list, with six properties featured.
New South Wales, Western Australia, South Australia and Tasmania each have one property featured.
The top 10 most discounted properties:
 
1.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-bundamba-111116347">22 White Street Bundamba, 4304</a>
 
Days on the market: 356
Initial asking price: $425,000
Current asking price: $205,000
Reduction: 52%
 
2.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-closeburn-107603313">34 Seraya Court Closeburn, 4520</a>
 
Days on the market: 707
Initial asking price: $1,450,000
Current asking price: $795,000
Reduction: 45%
 
3.
 
<a target="_blank" href="https://www.realestate.com.au/property-other-nsw-londonderry-7296375">9 Hughes Street Londonderry, 2753</a>
 
Days on the market: 1022
Initial asking price: $2,300,000
Current asking price: $1,290,000
Reduction: 44%
 
4.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-tangalooma-104624146">7 Cassidae Crescent Tangalooma, 4025</a>
 
Days on the market: 1574
Initial asking price: $1,495,000
Current asking price: $875,000
Reduction: 41%
 
5.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-lamb+island-112206275">4 Edgewater Place Lamb Island, 4184</a>
 
Days on the market: 1085
Initial asking price: $425,000
Current asking price: $249,000
Reduction: 41%
 
6.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-lamb+island-105155213">79 Perulpa Drive Lamb Island 4184</a>
 
Days on the market: 1071
Initial asking price: $499,000
Current asking price: $298,000
Reduction: 40%
 
7.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-doolandella-112978863">38 Cloverdale Road Doolandella, 4077</a>
 
Days on the market: 161
Initial asking price: $1,650,000
Current asking price: $1,000,000
Reduction: 39%
 
8.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228">15 Gretel Two Rocks, 6037</a>
 
Days on the market: 1302
Initial asking price: $1,100,000
Current asking price: $699,000
Reduction: 36%
 
9.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-sa-craigburn+farm-112856719">33 Fergusson Avenue Craigburn Farm, 5051</a>
 
Days on the market: 176
Initial asking price: $1,250,000
Current asking price: $795,000
Reduction: 36%
 
10.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-tas-spring+beach-106968687">368 Rheban Road Spring Beach, 7190</a>
 
Days on the market: 987
Initial asking price: $760,000
Current asking price: $500,000
Reduction: 34%
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Most discounted home in Bundamba extends its lead by 4%: SQM

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Victoria and Queensland led the way for new listings activity over the month to July 28, according to RP Data.
Victoria saw a seasonally adjusted increase in new listings to 10.5%, while Queensland had a 6.3% change.
<img alt="rpdatachartjuly29thirteen" height="249" width="470" src="/images/stories/2013/07/july29rpdata/rpdatachartjuly29thirteen.jpg">
<img alt="rpdatachartjuly29fourteen" height="215" width="470" src="/images/stories/2013/07/july29rpdata/rpdatachartjuly29fourteen.jpg">
The RP Data Listings Index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market.
RP Data customers account for over 70% of all listings in the Australian property market.
The index, which tracks the flow of metadata across RP Data’s real estate data platform, shows a 75% correlation with the number of new listings about to enter the market.
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VIC and QLD lead new listings activity: RP Data

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The average discount rate of properties in Canberra has dropped 1.3% to 4.6% in July, according to Australian Property Monitors.
Melbourne also dropped to an average discount of 5.9% in July from 6.5% in  June.
The Gold Coast is the only region to have recorded an increase in its average discount rate to 8.9% in July, up from 8.4% in June.
Brisbane has remained stagnant for the last three months at 7.0%.
<img src="/images/stories/2013/07/apmheathcartjuly29two.jpg" alt="apmheathcartjuly29two" width="470" height="696">
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Vendor discounting in Canberra drops 1.3% in July: APM heat chart 

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A new type of apartment - known as transition apartments – have been created in North Sydney to tempt empty nesters and baby boomers from their larger family homes.
Designed by Smart Design Studio, the apartments are part of  <a target="_blank" href="https://www.theheritagenorthsydney.com.au/">The Heritage</a> development by Moore Development Group in North Sydney’s Walker Street.
The apartments, ranging in size from 148 square metres to 182 square metres, feature their own lobby and exclusive lift access.
The development will feature 23 three- and four-bedroom apartments and penthouse apartments and prices start from $1.425 million.
“Empty nesters want to escape the maintenance chores of a house, and they like the idea of moving into a lively location, but most baulk at the thought ot multi-unit complexes where noise can be an issue and privacy can be compromise,” says Nick Rickard, general manger of Moore Development Group.
“We are offering people a compromise to make their transition from a family home into strata living as seamless as possible.
“Going from being ‘Lord of the Manor’ into a strata development where other people have an equal say in the way things are run is a major issue for many peoples,” says Rickard.
The first stage of 18 apartments has been released and 17 have already sold.
The apartments feature high ceilings, floor to ceiling windows, travertine floors and timber veneer joinery.
The security lift at The Heritage only stops at an authorized floor, opening onto a private lobby, which then leads onto the living spaces of the apartments.
“There is only one common wall so noise is not a problem,” says Rickard.
“Privacy is enhanced, security is cutting-edge and each ‘transition apartment’ has practical entertainment spaces every bit as opulent as a house, as well as storage cages on one dedicated level,” says Rickard.
“Downsizers are used to having space, and the additional bedrooms allow other family members to come and go as they need,” says Colin Griffin of CBRE Residential.
“North Sydney is convenient location for friends to visit and you’re very close to the CBD,” says Griffin.
Residents will have access to a rooftop terrace with BBQ facilities.
The median apartment price in <a target="_blank" href="/news">North Sydney</a> is $550,000, according to RP Data.
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Transition apartments to tempt Sydney north shore empty nesters

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Darwin has the highest private treaty median house price for the month ending July 28 at $630,000 from 21 sales, according to RP Data.
Sydney follows with a median private treaty house price of $606,250 from 2,526 sales.
Sydney has the highest private treat median unit price at $498,000 from 1,685 sales, followed by Perth at $441,000 from 220 sales.
<img alt="rpdatachartjuly29seven" height="281" width="470" src="/images/stories/2013/07/july29rpdata/rpdatachartjuly29seven.jpg">
<img alt="rpdatachartjuly29eight" height="218" width="470" src="/images/stories/2013/07/july29rpdata/rpdatachartjuly29eight.jpg">
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Darwin highest private treaty price in July at $630,000: RP Data

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A four-bedroom John Burgess-designed home in Longueville sold prior to its recent scheduled auction.
It was <a target="_blank" href="https://www.propertyobserver.com.au/residential/john-burgess-designed-longueville-trophy-home-seeks-%24325-million-plus/2013062862796">listed with a price guide of $3.25 million plus.</a>
Listing agent James Bennett of Belle Property Lane Cove said it sold “quite comfortably” above $3 million - the highest non-waterfront sale in the street.
Situated on 623 square metres, the William Edward Street property was built in 2010.
A large centrally located Blackbutt tree on the site was kept and was used as a primary design trigger.
The three level residence includes three bathrooms and boasts glass and natural materials throughout.
The property also features Zen inspired outdoor relaxation spaces, a heated pool and an entertainers' terrace.
John Burgess Architects was established in Byron Bay in 1990 and has designed iconic developments including Rae’s on Wategos and the historic Orient Hotel.
It was listed through Simon Harrison and James Bennett of <a target="_blank" href="https://www.49williamedwardst.com/index.php">Belle Property Lane Cove</a>.
The median house price in <a target="_blank" href="/news">Longueville</a> is $2 million, according to RP Data
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John Burgess-designed Longueville home sells prior to auction

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Auctions volumes have slightly dropped this week, with 1,241 auctions scheduled across the capital cities, according to RP Data.
There were a revised 1,393 auctions last week, up from the previous week of 1,131 auctions. 
The clearance rate last week slightly increased to 65.7%, up from 65.4% the previous week.
At the same time last year the clearance rate was much lower at 50.8% but auction volumes were only slightly lower at 1,164.
Melbourne’s auction volumes increased last week to a revised 612, up from 486 auctions the previous week.
The clearance rate in Melbourne also increased from 62.8% the previous week to 67.7% last week.
There are 565 auctions scheduled across Melbourne this week.
Sydney has 443 auctions scheduled for this week, very similar to the revised figure of 447 auctions last week and 410 auctions the previous week.
The clearance rate in Sydney increased last week from 79.1% the previous week to 80.6% last week.
At the same time last year, Sydney had a clearance rate of 53.4% and Melbourne had a clearance rate of 51.3%.
Sydney and Melbourne both have more auctions scheduled this week than at the same time last year, with Sydney holding 417 auctions last year and Melbourne holding 521.
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Auction volumes drop slightly: RP Data

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

Joel Robinson

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

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

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[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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