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The Albion Flour Mills development in Brisbane has secured a $2.2 million sale.
The apartment, known as The Hudson Sky Home, is located on level 12 of the $330 million development by FKP Property Group.
Gary Kordic executive general manager of FKP says the 336-square-metre sky home is a one-off design.
The sky home features four bedrooms, four bathrooms, a media room and a scullery kitchen.
“This sale, on the back of the increasingly constant demand for larger configurations is a great reflection of the strength of the owner-occupier market,” says Kordic.
The historic Mill is located in Brisbane’s inner north next to the Albion train station, providing ample transport for the urban liver.
All of the penthouses sold in the first six months of the development being on the market, for over $1.1 million each.
“The response shows that demand for this integrated, village-style development’s larger apartments is strong and very much alive in today’s market,” says Kordic.
The development announced its recent partnership with Jan Powers Farmers Market, with the farmers market being held on the heritage site on the second and fourth Sunday of every month.
“This site has been home to primary industry since the 1930s; it was a hub of humanity and food and industry and it’s important to recreate this village precinct; a market is at the very heart of any village, and we look forward to seeing this one grow and develop,” says Jan Power.
“For the first time in our markets history, the Albion Mill Village markets will include a sit down café under the Heritage building, providing people with the opportunity to sit and soak up the atmosphere of the markets and surrounds,” says Power.
The market will start from September 22.
The Albion Mill Village development site spans 7,336 square metres across two sites, including the historic flourmill and adjoining site.
The Hudson is the first stage of the masterplan development, with prices starting from $399,000 for a two-bedroom apartment.
 Upon completion, the Hudson will include 139 one-, two- and three-bedroom apartments plus sky homes and penthouses.
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Albion Mill Village development secures $2.2 million sky home sale

Barrister Mark Cleary and wife Melanie, have sold their&nbsp;Clanville Road,&nbsp;Roseville home for $1.9 million.

The modernised 1937 house&nbsp;retains&nbsp;timber floors, decorative cornices, picture rails, leadlight windows along with a&nbsp;leadlight living room&nbsp;dome.

Set on a 1026 square metre block, the house comes with&nbsp;four bedrooms and&nbsp;two bathrooms.

More than $1.75 million was tipped for its recent auction through&nbsp;Pamela and Malcolm McCulloch of Belle Property.

It last traded at $1.46 million in 2008 having been listed two years earlier&nbsp;in 2006 with $1.8 million hopes.

The median house price in <a href="/news">Roseville</a> is $1.49 million, according to RP Data.

Modernised Roseville 1937 charmer secures $1.9 million 

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The South Australian suburb Parkside is again the most searched for suburb around the nation, having held the position for the past six months, according to realestate.com.au.
South Australia dominates as the state most searched for, accounting for 50% of the top 10 most in demand suburbs.
“The proximity of Parkside to the city and the range and style of houses available continue to drive demand for property in the area,” says Anthony Toop of Toop and Toop Real Estate.
“Parkside is well located and caters to the modern needs of buyers.
“There are great schools in the area and new restaurants opening, it is a growing, cosmopolitan area that caters to a wide range of buyers,” says Toop.
South Australian Walkerville re-entered the list in third place, having slipped off in the March top 10.
Norwood, Aldgate and Kensington Gardens also made it onto the list.
Victoria’s Surrey Hills slotted into second place, having been listed in seventh place in the March report.
Toby Park from Hocking Stuart Balwyn put this down to Surrey Hills offering good schools and public transport.
“There are terrific schools in the area and it is close to a train line which is important.
“The suburb itself is relatively tightly held and purchasing in the area can be quite competitive,” says Parker.
Victoria’s Fitzroy North was a newcomer onto the list - ranking in seventh, as was Wantirna, taking out ninth place.
Oyster Bay was the most searched for suburb in New South Wales, but ranked eighth around the nation.
“Oyster Bay is a leafy bay area, where buyers can find a quieter lifestyle and escape, only 40 minutes from the city,” says Warren McCarthy of McGrath Real Estate.
“It has great local schools, a tight community and is close to public transport,” McCarthy says.
New South Wales’ Bondi was ranked tenth.
Australia’s hottest suburbs are as follows:
<ol>
<li>
<a href="/news">Parkside</a> (SA)</li>
<li>
<a href="/news">Surrey Hills</a> (VIC)</li>
<li>
<a href="/news">Walkerville</a> (SA)</li>
<li>
<a href="/news">Norwood</a> (SA)</li>
<li>
<a href="/news">Aldgate</a> (SA)</li>
<li>
<a href="/news">Kensington Gardens</a> (SA)</li>
<li>
<a href="/news">Fitzroy North</a> (VIC)</li>
<li>
<a href="/news">Oyster Bay</a> (NSW)</li>
<li>
<a href="/news">Wantirna</a> (VIC)</li>
<li><a href="/news">Bondi</a> (NSW)</li>
</ol>
Parkside is located within the Municipal of Unley, has a total population of 11,606.
Of that population 61.6% are employed, 30.1% are not in the labour force, 2.7% are unemployed and 5.6% are not started.
Median monthly home loan repayment of the suburbs population is $1,343 and a median weekly household income of $1,115.
The average household size is two (2).
Parkside is 2.4 kilometre’s form Adelaide’s city center. It is 1.63 kilometre’s squared in size.
Of the occupations, the major ones are professionals, managers and clerical and administrative workers.
Out of the dwellings in the suburb, 53.5% are separate house, 23.8% are semi-detached and 22.5% are flats/units/apartments.
Of the dwellings, 28.3% of them are fully owned, 32.5% are being purchased, 32.3% are rented, 1.9% other tenure and 4.9% are not started.
Within the market it is shown that;
The median house sale price of the suburb was $652,000, which was a change in median price of 10% to last year’s median, and has an average time on the market of 75.6 days.
Within the rental market of Parkside houses, the median asking rent was of $450, with an indicative gross rental yield of 3.6%. There has been a major increase in the median asking rent since 2008.
The unit market of Parkside has a median sale price of $470,000, a 6.8% change to last year median price, with an average 98.3 days on the market.
The median asking rent is $330, with an indicative gross rental yield of 3.7%. A considerable increase in rent was experienced between 2008 and 2011.
Of recent properties sold in the Parkside area, 11 Dunks Street Parkside (pictured below) sold for $771,000 on May 7th 2013, where it was only on the market for 10 days.
The property has four bedrooms and two bathrooms and is 200 square metres in size.
20 Scott Street, another property in Parkside’s leafy suburb, sold on May 2nd 2013 for $622,000. It was listed on the market for 46 days.
The property has three bedrooms, and the sharing of one bathroom, on a site of 512 square metres.
Previous sales of this property suggest that the value has appreciated. In February 2007 this same property was sold for $503,000 and listed for just only 14 days.
At 21 Leicester Street there was a May 6 sale for $570,000. It was listed on the market for 56 days.
The home has five bedrooms and two bathrooms, situated on a land size of 523 square metres. In 2009 the same property was sold for $600,000, suggesting depreciation in the price of the property has occured.
Currently on the market is an updated sandstone cottage located at 10 Scott Street Parkside, which has an asking price of between $670,000 - $720,000.
This property has three bedrooms, one bathroom and two living rooms with a lush backyard.
 
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Parkside, South Australia the most searched for suburb

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Spec Property Group is enticing potential buyers by including a Vespa in the sale of some of their one-bedroom apartments in the South Yarra development.
The Ella development on Claremont Street features 167 apartments; 60 of those are one-bedroom apartments with no car space.
Spec is offering up to 20 Vespas to those lucky enough to secure a one-bedroom apartment with an allocated scooter space. 
The iconic Italian scooters are worth between $4,000 and $9,500, depending on the model.
One-bedroom apartments range in price from $339,000 to $445,000 and range in size from 39 square metres to 45 square metres.
The 107 two-bedroom apartments come with a car space and range in price from $535,000 to $650,000.
The kitchens feature Smeg appliances and Caesarstone benchtops but can be upgraded to Miele appliances.
Developer gifts are not a new concept within Australia; incentives such as cars, holidays and even cooking lessons with a celebrity chef have been utilised to attract potential buyers.
This is not even the first time <a href="https://www.specproperty.com/#/profile/" target="_blank">Spec Property Developments</a> have offered incentives; previously they have offered to pay the stamp duty for apartments purchased in their Madison development in Doncaster.
The Vespa incentive first appeared in Jacksonville Florida, with buyers at the Chelsea Lofts being able to choose between receiving a Vespa, having their homeowner association fees paid for a year or getting a plasma TV.
The rise in incentives can be seen as a result of tough housing market conditions.
Although the prospect of a lavish item, such as a Vespa, may seem like a good prospect, buyers are warned that there is a catch. The costs of the incentive are often hidden away in land or building costs.
Ella is currently 50% sold, with construction already commenced.
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Vespa offer to entice buyers to South Yarra one-bedroom apartments

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Some of the fastest selling houses in NSW can be found in suburbs such as Eagle Vale and St Peter's, with an average of 33 to 35 days spent on the market, according to RP Data. 

Properties located in Revesby Heights, Heathcote, Bronte and Crows Nest are also quick to sell, with time on the market ranging between 37 to 62 days.
The states slowest selling houses can be found in Crescent Head, with an average of 222 days on the market and Greenwell Point with an average of 221 days on the market.
Denhams Beach, Berridale, Condobolin and Tuggerawong are also amongst the slowest selling suburbs.


A three-bedroom 1920s home at 19 Florence Street in St Peter's sold prior to auction for $870,000 in June, after a mere 21 days on the market.
Situated on 190 square metres and including two bathrooms, the property last sold in October 2009 for $575,000, reflecting an annual price appreciation of 9.04%.
The property was listing through Oliver Miles of <a target="_blank" href="https://raywhitegladesville.com.au/nsw/st-peters/973088/#contact-the-agent">Ray White Gladesville.</a>
A three-bedroom home at 48 Edith Street was snapped up for $992,000, after being on the market for 23 days.
The property is situated on 299 square metres and includes two bathroom.
It last sold in November 2002 for $490,000, reflecting an annual price appreciation of 6.82%.
The property was listed through Joseph Tropiano and Adam Touma of <a target="_blank" href="https://www.belleproperty.com/selling/NSW/Inner-West/St-Peters/House/34P0546-48-edith-street-st-peters-nsw-2044">Belle Property</a>.
The median house price in <a target="_blank" href="/news">St Peters</a> is $694,000, according to RP Data. 
Henry Nooyen of LJ Hooker St Andrew's says St Peters and Eagle Vale are among the fastest selling suburbs due to the affordability of properties.
"We have a lot of people who come from the Liverpool area, where the properties are around 20% more expensive.
"Eagle Vale is a cheaper suburb and mostly consists of three-bedroom, one-bathroom homes," says Nooyen.
Nooyen says these suburbs attract investors as they rent our quickly.
The median rental yield for a house in Eagle Vale is 6.1% and 4.4% in St Peter's.
 
Some of NSW fastest selling houses 


 
<a target="_blank" href="/news">St Peters</a> – 35.9 days 

<a target="_blank" href="/news">Bronte</a>  – 62.1 days

<a target="_blank" href="/news">Crows Nest</a>  – 50.2 days 

<a target="_blank" href="/news">Revesby Heights</a>  – 37.4 days

<a target="_blank" href="/news">Eagle Vale</a> – 33.9 days

<a target="_blank" href="/news">Heathcote</a> –  42.6 days

 
Some of NSW slowest selling houses 


 
<a target="_blank" href="/news">Berridale</a>  –217 days

<a target="_blank" href="/news">Greenwell Point</a>  – 221.4 days

<a target="_blank" href="/news">Denhams Beach</a> – 187.9 days

<a target="_blank" href="/news">Condobolin</a> - 188.7 days

<a target="_blank" href="/news">Tuggerawong</a> - 150.8 days
<a target="_blank" href="/news">Crescent Head</a>  – 222.8 days 

 
Readers can expect mild adjustments from month to latest month.
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Eagle Vale and St Peter's among NSW's fastest selling suburbs

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A three-bedroom apartment in Potts Point was this week’s most expensive sale, selling for $3.3 million, according to RP Data. 
Located at 1501/81 Macleay Street, the apartment features a CaesarStone kitchen with Miele appliances and two bathrooms.
A private balcony boasts views of Woolloomooloo Bay, the Opera House, Bridge and Harbour.
The successful purchaser has access to the complex’s facilities including a pool, sauna and gym.
The apartment last sold in 2009 for $3.1 million, reflecting a price appreciation of 1.74% over the four year period.
Prior to that, it was sold by Mirvac in 2002 for $3,005,650.
It most recently sold through Jason Boon of <a target="_blank" href="https://www.randw.com.au/460414/">Richardson &amp; Wrench Potts Point</a> at its July 11 auction.
The top 10 most expensive sales if the week were:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1501/81_macleay_street_potts_point_nsw_2011/5576666">1501/81 Macleay Street, Potts Point, NSW, 2011</a>, three-bedroom unit, sold on July 11 by Richardson &amp; Wrench Elizabeth Bay/ Potts Point for $3.3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/8a_court_road_double_bay_nsw_2028/16342247">8A Court Road, Double Bay, NSW, 2028</a>, four-bedroom house, sold on July 10 by Raine &amp; Horne Double Bay for $3.1 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/632_toorak_road_toorak_vic_3142/15508003">632 Toorak Road, Toorak, VIC, 3142</a>, five-bedroom house, sold at auction on July 13 by Marshall White Real Estate Armadale for $2.885 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1/7_college_street_manly_nsw_2095/3975432">1/7 College Street, Manly, NSW, 2095</a>, three-bedroom unit, sold on July 12 by Belle Property Manly for $2.825 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/29_upper_avenue_road_mosman_nsw_2088/4510604">29 Upper Avenue Road, Mosman, NSW, 2088</a>, five-bedroom house, sold on July 11 by L J Hooker Mosman Neutral Bay for $2.77 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_kambah_place_west_pennant_hills_nsw_2125/7481110">21 Kambah Place, West Pennant Hills, NSW, 2125</a>, house and land package, sold on July 11 by Louis Carr Glenhaven / Castle Hill for $2.6 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/5_garnet_street_killara_nsw_2071/3327308">5 Garnet Street, Killara, NSW, 2071</a>, five-bedroom house, sold prior to auction on July 13 by Chana Scotcher Realty for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11_comus_street_hamilton_qld_4007/4937259">11 Comus Street, Hamilton, QLD, 4007</a>, five-bedroom house, sold on July 10 by Alma Clark Real Estate - Ascot for $2.35 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/93_seaview_road_tennyson_sa_5022/10574148">93 Seaview Road, Tennyson, SA, 5022</a>, five-bedroom house, sold on July 11 by Jacktracey Dulwich for $2.35 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/48_st_marks_road_randwick_nsw_2031/5762977">48 St Marks Road, Randwick, NSW, 2031</a>, four-bedroom house, sold at auction on July 13 by Goodyer Donnelley Real Estate for $2.35 million
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Potts Point apartment most expensive sale: RP Data

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Scheduled auctions are slightly up this week across the capital cities with 1,101 auctions, according to RP Data.
There were a revised 965 auctions last week and 1,029 auctions the previous week.
The clearance rate recorded last week was slightly higher at 69.6%, up from 65.1% the previous week.
At the same time last year the clearance rate was 52.2% and 837 auctions were held.
Melbourne auctions volumes have increased slightly this week with 480 auctions scheduled.
Melbourne had a revised 418 auctions last week and 453 the previous week.
The clearance rate increased from 65.8% the previous week to 67.3% last week.
Sydney’s auction volumes remained virtually unchanged with 371 auctions held last week and 369 the previous week.
The preliminary clearance rate of 79.7% last week is the highest recorded for the city since the same week in 2009.
The previous week recorded a clearance rate of 74.1% and at the same time last year the clearance rate was substantially lower at 54.6%.
Sydney is scheduled to have 392 auctions this week.
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Scheduled winter auction volumes increase slightly: RP Data 

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Leaving a good first impression has always been important, so it’s just as important for your home to leave a good impression on a potential buyer before they get a foot in the front door.
Property Observer has compiled six tips to help you improve your homes curb appeal.
Firstly, pretend to be a potential buyer and park your car away from your home. As you walk towards your property, what catches your eye first? Is it something negative or positive? Looking around and see what needs tidying up, from cleaning gutters and windows to mowing the lawn.
Secondly, make sure your backyard is in order, particularly if it’s visible from another street or someone’s driveway, as those interested in your home will do drive bys.
Remove things that are overgrown of affect your homes appeal. If you’re not willing to, you must be prepared to lower the price for a buyer who is willing to put in the hard work.
Planting flowers is an easy way to add impact. Visit your local nursery to find out what is currently in season and plant some in the front yard or in planter boxes on the porch.
Upgrade hardware, such as a new doorknob or knocker if your one is a bit outdated. Adding numbers to your mailbox or next to your door can also be affective. If your front door looks a bit dated, give it a fresh lick of paint, as it is the entrance to the home.
Lastly, string low voltage lighting along your driveway or near important landscaping elements. Not only does this highlight certain features, it also acts as a security feature at night.
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Six tips to improve your home's curb appeal before sale

A former Brighton police station has sold under the hammer, with the successful buyer planning to renovate the double-storey Victorian Italianate style building into a home.

The 1,047-square-metre property (pictured below) at 27 Wilson Street successfully sold at its recent auction for more than $2.4 million.

Offering double street frontage, the property features 10 principal rooms, original holding cells and original timber stairwells.

Nick Johnstone of <a href="https://www.propertyobserver.com.au/https://www.nickjohnstone.com.au/property/details/281" target="_blank">Nick Johnstone Real Estate Brighton</a> says the owner plans to keep the fa&ccedil;ade but refit the interior.

Meanwhile, the old Carlton police station at 334-344 Drummond Street has sold for $3,641,000.

Property Observer <a href="https://www.propertyobserver.com.au/victoria/old-bluestone-carlton-police-station-with-squizzie-taylor-links-listed-by-state-government/2013041860481" target="_blank">reported</a> on the listing earlier this year where the price guide was reported around $3 million.

The property ceased being an active station in 2010, having served the community for 130 years.

It is speculated that notorious 1920s gangster Squizzy Taylor was connected to the site.

Sitting on 992 square metres, the new of its two buildings is the 1890s six-cell bluestone jail designed by John Dow.

The symmetrical brick Victorian restrained Classical-Revival style building on the street was designed by Public Works Department architects William Steel and George Watson in 1878.

It was listed through Simon Shrimpton of Jellis Craig.

Shrimpton says the purchaser is looking to renovate and rework the Drummond Street site.

Up north, the former Pymble police station is on the market for $800,000 plus.

Located at 1116 Pacific Highway, the property&nbsp;retains original features including four fireplaces and two cell lock up blocks.

It also includes three individual offices.

Situated on 465 square metres, the property has recently been rezoned to high-density development.

In October last year, the original Rozelle Police Station&nbsp;sold for $1.87 million.

The 450-square-metre property at 707 Darling Street retains original features including three jail cells and barred windows.

Listing agent Tim Morrison described the building as having artistic feel to it with a blend of old and new interiors throughout.

The new owner has used the building to create a corporate headquarters for her digital publishing business beautheaven.com.au.

Prior to the sale, the property was used as the headquarters for New South Wales children&rsquo;s charity Variety.

It was sold in 1991 for $587,500 by a retail company dealing in luggage and leather goods.

Former Brighton police station to be restored into family home

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A grand family holiday home in Chelsea is on the market with a $3.2 million plus price guide.
Located at 18 Camp Street, the property consists of three linked accommodation areas.
The central home features four bedrooms and two bathrooms, the north wing is made up of two apartments and the south wing is made up of three apartments.
The Herszberg family holiday home totals 17 bedrooms and 10 bathrooms and is being sold as a whole.  The property has been used every year since the initial 1999 purchase as a holiday home for the matriach and her four children and 25 grandchilden.
The 1,200-square-metre property, with an indoor pool, has the option of being subdivided into three separate homes and offers a potential rental income of $150,000 per annum - a potential rental yield of 4.69%.
Troy Robinson and Daniel Wright of <a href="https://www.hockingstuart.com.au/?pagecall=property&amp;propertyID=2395063&amp;addBkmkPropertyID=2395063" target="_blank">Hocking Stuart</a> have the listing, with expressions of interest closing July 24.
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Chelsea's trophy 17 bedroom holiday home listing

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

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

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

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