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A renovated family home inspired by the overgrown ruins of Angkor Wat has taken out the 2013 Wilkinson Award for residential architecture.
Located in McMahons Point, “Tír na nÓg” is by architect and builder Drew Heath.
The New South Wales top architecture award was announced last night at the Australian Institute of Architects NSW architecture awards in Sydney last night.
“The architect’s stated ambition was to create a built Tír na nÓg – an ‘Otherworld’, inspired by the overgrown ruins of Angkor Wat,” says Sam Crawford of the AIA’s NSW residential jury chair.
“He was so inspired, he attempted to create the sublime in his own home, layering building and landscape in a tight urban setting.
“He set out to achieve something very ambitious, and we think he’s succeeded.
“This is a project in which we saw landscape and architecture more completely entwined than we’d seen before,” says Crawford.
<a target="_blank" href="https://architectureau.com/articles/2013-nsw-architecture-awards/">Nine other residential awards and commendations were presented at the awards night</a>.
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An 'Otherworld' family home takes out 2013 Wilkinson Award

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A four-bedroom John Burgess-designed home in Longueville is on the market for $3.25 million plus.
Situated on 623 square metres, the William Edward Street property was built in 2010.
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.
It is scheduled to go under the July 27 hammer 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 $2.12 million, according to RP Data.
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John Burgess-designed Longueville trophy home seeks $3.25 million plus

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As property prices soar, no property on the original English monopoly board would be affordable to a Londoner on average wage, research has shown.
Homes in the most expensive areas on the board, Mayfair and Park Lane, are £350 ($576 AUD) on the board, but the average price in these areas today has soared to £1.4 million ($2,302,804 AUD).
The cheapest areas on the board, The Old Kent Road and Whitechapel Road, are £60 on the board, however have soared to £192,714 and £295,082 respectively.
Prices on the Monopoly board have not changed since 1936.
Angel Islington is more affordable on the board, however has surpassed Pentonville and Euston Road in terms of prices, having established itself as one of the capitals most cosmopolitan areas.
The average national salary for a Londoner working full time is £26,500 – meaning they wouldn’t stand much of a chance in purchasing Monopoly land in today’s property market.
“While drawing a comparison between the values placed on these areas in a board game and the actual average house prices provides a light-hearted look at the London property market, it does present a realistic picture of the capital’s most popular postcodes,” Craig McKinlay mortgage director at Halifax told the Evening Standard.
Research was based on office sales prices from the Land Registry for homes in the postcode area over the last five years.
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Real life monopoly board not affordable for the average Londoner

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All contestants will secure windfall profits from the Channel 7 series which has its grand final elimination countdown this Sunday with a Monday winner announcement.
While the winner gets their mortgage wiped, all the contestants have benefited in differing amounts to windfall renovation gains. Channel 7 won't say how much was spent.
House Rules Victorian brothers, team Chris and Nick have potentially benefited the most from the renovation reality show if they were to sell their Preston home in the current market.
<img style="margin: 5px; float: left;" alt="houserules1" src="/images/stories/2013/06/houserules1.jpg" width="50" height="62">Chris and Nick bought the 1930s Californian Bungalow (pictured below) in August last year for $555,000.
 
{yoogallery src=[images/stories/2013/06/june28chrisandnickafter]}
It has been recently <a href="https://www.propertyobserver.com.au/news/house-rules-contestant-couples-%24100000-to-%24200000-better-off-after-the-renovations/2013061662093" target="_blank">appraised by two local real estate agents</a> to now be worth between $690,000 to $800,000 – an increase of somewhere between $135,000 to $245,000 for the brothers.
<img style="margin: 5px; float: left;" alt="houserules2" src="/images/stories/2013/06/houserules2.jpg" width="50" height="54">New South Wales couple Michelle and Steve slot into second place with their property's price potentially increasing by somewhere between $180,000 to $225,000.
The couple purchased the 1950s coastal weatherboard house (pictured below) for $650,000 in May last year.
{yoogallery src=[images/stories/2013/06/june26michelleandsteveafter]}
They held the biggest mortgage on the show, and therefore the biggest prize of $629,000.
Two <a href="https://www.propertyobserver.com.au/new-south-wales/nsw-house-rules-couple-michelle-and-steve-could-pocket-up-to-%24225000/2013062562700" target="_blank">local real estate agents appraised</a> their newly renovated Collaroy Plateau home to now be worth between $830,000 to $875,000.
<img style="margin: 5px; float: left;" alt="houserules3" src="/images/stories/2013/06/houserules3.jpg" width="50" height="65">Queensland couple Amy and Sean come in third place, with their home (pictured below) now being worth potentially $135,000 to $165,000 more.
 
{yoogallery src=[images/stories/2013/06/june25amyandseanafter]}
The pair purchased the 1960s Nundah home in June last for $365,000.
<a href="https://www.propertyobserver.com.au/news/amy-and-sean-s-house-rules-nundah-home-now-worth-%24500000-plus/2013062462592" target="_blank">Local real estate agents appraised the property</a> to now be worth $500,000 to $530,000.
<img style="margin: 5px; float: left;" alt="houserules4" src="/images/stories/2013/06/houserules4.jpg" width="50" height="64">Newlyweds Western Australian couple Jemma and Ben could potentially be $115,000 to $135,000 better off.
The couple purchased their first 1950s Melville home (pictured below) for $555,000.
{yoogallery src=[images/stories/2013/06/june28jemmandbenafter]}
Local real estate agents appraised the property to now be worth between $670,000 to $690,000.
<img style="margin: 5px; float: left;" alt="houserules5" src="/images/stories/2013/06/houserules5.jpg" width="50" height="67">Tasmanian couple Jane and Plinio’s New Town property (pictured below) could potentially be worth $70,000 to $135,000 more.
 
 
{yoogallery src=[images/stories/2013/06/june28janeandplinioafter]}
The couple purchased the house in 2010 for $355,000.
Local <a href="https://www.propertyobserver.com.au/news/house-rules-contestant-couples-%24100000-to-%24200000-better-off-after-the-renovations/2013061662093" target="_blank">real estate agents appraised it to now be worth$425,000 to $490,000.</a>
<img style="margin: 5px; float: left;" alt="houserules6" src="/images/stories/2013/06/houserules6.jpg" width="50" height="64">South Australian couple Carly and Leighton slot into last place, with a potential prize profit of $85,000 to $110,000.
The couple purchased the Warradale home (pictured below) for $450,000 in May last year.
{yoogallery src=[images/stories/2013/06/june28carlyandleighton]}
After the reality show renovation, it has been <a href="https://www.propertyobserver.com.au/news/house-rules-contestant-couples-%24100000-to-%24200000-better-off-after-the-renovations/2013061662093" target="_blank">appraised by local estate agents</a> to now be worth $535,000 to $560,000.
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House Rules' Chris and Nick could secure the highest potential reno windfall

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All three penthouses in the Skye by Crown development in North Sydney have sold, with the most expensive one selling for $3.5 million.
The largest penthouse in <a target="_blank" href="https://skyebycrown.com.au/">the development</a> sold at its June 15 launch for $3.38 million. 
More than 100 apartments sold on launch day, totaling more than $110 million.
The developments first stage release is now 90% sold.
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/skye-by-crown-set-to-become-north-sydney-icon-skye-crown/2013052361500">20-storey residential complex</a> (pictured below) is designed by Japanese Australian architect Koichi Takada and features 232 apartments with glass facades, balconies and winter gardens.
<img alt="crownmay21three" height="556" width="470" src="/images/stories/april23tivoli/crownmay21three.jpg">
“A number of buyers who purchased on Saturday already own an apartment in one of Crown Group’s completed developments and have found them to be excellent homes and valuable investments,” says Crown Group director of sales and marketing Adam Sparkes.
Sparkes says the launch day turnout was beyond expectation.
<img alt="crownmay21four" height="453" width="470" src="/images/stories/april23tivoli/crownmay21four.jpg">
“Properties snapped up on the launch included a wide variety of varying apartment types, from our studio and one bedroom apartments through to our largest penthouse which sold for a record $3.38 million.”
Facilities include a gymnasium, community room, rooftop terrace and a 25-metre rooftop infinity edge pool.
<img alt="crownmay21two" height="361" width="470" src="/images/stories/april23tivoli/crownmay21two.jpg">
<img alt="crownmay21five" height="357" width="470" src="/images/stories/april23tivoli/crownmay21five.jpg">
Apartments range in price from $499,000 to $2 million plus.
<img alt="crownmay21one" height="360" width="470" src="/images/stories/april23tivoli/crownmay21one.jpg">
Studio apartments range in size from 36 square metres to 43 square metres.
One-bedroom apartments range in size from 50 square metres to 61 square metres.
Two-bedroom apartments range in size from 73 square metres to 88 square metres.
Three-bedroom apartments range in size from 120 square metres to 148 square metres.
There will be three penthouses on offer, boasting high level finishes and rooftop gardens.
Construction is scheduled to start in late 2013.
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All three penthouses snapped up in North Sydney's Skye by Crown

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Trixie and Johnno’s The Block Sky High penthouse has been listed on the market with the listing agents offering a $1.3 million plus price guide.
The Park Street South Melbourne apartment will go to 3pm July 27 auction.
The fifth floor penthouse is approximately 220 square metres in size and features three bedrooms and four bathrooms.
The master bedroom features his and her ensuites and a dressing room.
A spa bath and steam shower is also included.
Trixie and Johnno were known on the show for their detailed finishes and heightened the door frames to maximise the feeling of spaciousness.
The apartment also boasts 360-degree views of Melbourne and includes a semi outdoor terrace.
The Block Sky High contestants were each given an $80,000 budget to renovate an entire floor of a derelict hotel and turn it into luxury apartments.
Teams were able to secure more funds through weekly challenges and room wins.
The apartments are being sold with all furniture and accessories.
Kendall Bares and David Wood of <a target="_blank" href="https://www.hockingstuart.com.au/UNIT_501_142_PARK_STREET_SOUTH_MELBOURNE_VIC_3205">Hocking Stuart Albert Park</a> have the listing.
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The Block Sky High South Melbourne trophy penthouse listed for $1.3 million plus July 27 auction

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The number of newly advertised properties is lower than a year ago with 2.1% fewer new listings nationally, with a total of 37,488, according to RP Data.
Melbourne has the highest number of new residential property listings for the month ending June 23, with 6,444 listings.
However year on year, the number of listings is 2.3% lower.
Sydney has the second highest number of listings this month with 5,875 but is also 2.3% lower year on year.
Perth and Canberra are the only ones to see an increase of listings, year on year.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/06/rpdatahomesforsalejune27one.gif" rel="shadowbox"><img src="/images/stories/2013/06/rpdatahomesforsalejune27onethumb.gif"></a>
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Number of homes for sale 2.1% fewer nationally: RP Data

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Newlyweds Jemma and Ben could potentially be $135,000 better off if they were to sell their newly renovated WA home from the Channel 7 series House Rules.
The couple were first-home buyers in late 2011 when they bought their 1950s Melville home for $555,000.
House Rules asked two local estate agents to appraise the newly renovated home.
Gay Chandler-Hack of Acton Real Estate appraised the property to now be worth around $680,000.
Chandler-Hack says the kitchen and dining room are now the central hub of the home, however the laundry is not very functional.
Chandler-Hack also says removing the third bedroom was a bad move, as three-bedroom houses are worth more than a two-bedroom.
Gary Hicks of Ross and Galloway Property appraised the property to now be worth between $670,000 and $690,000.
Hicks agrees that the new modern kitchen with soft-closing drawers is the best selling point, however the removal of the third bedroom could be detrimental.
You can read our other House Rules stories <a href="?option=com_googlesearch_cse&amp;q=house%20rules" target="_blank">here.</a>
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Jemma and Ben, the WA newlyweds could be $135,000 better off after House Rules renovation

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The Block 2014 are on the hunt for five couples who must be available for a 10-week shooting period over November 2013 to January 2014.
Applicants for the reality renovation show must be aged between 18 to 65.
Luckily for some, previous home renovation experience is not required but is considered an asset to have.
The exact location of The Block 2014 is yet to be confirmed.
If you consider yourself a blockaholic, click <a target="_blank" href="https://theblock2014.castasugar.com/">here</a> to apply.
The Block 2013 has seen five teams renovate a five-storey old hotel building into lavish <a target="_blank" href="/news">South Melbourne</a> apartments.
Previous series of The Block have been located in <a target="_blank" href="/news">Bondi</a>, <a target="_blank" href="/news">Manly</a>, <a target="_blank" href="/news">Vaucluse</a> and <a target="_blank" href="/news">Richmond</a>. And <a target="_blank" href="https://www.propertyobserver.com.au/renovating/at-%24506000-above-reserve-brad-and-lara-s-%24162-million-south-melbourne-sale-secures-the-block-2012-prize/2012062955355">South Melbourne </a>terraces.
The creators of The Block - Watercress Productions - also have a new TV show up their sleeves, with McGregor Casting looking for Sydney families to apply for the new show.
The advert readers “Would you like to transform your life in 30 days? Lose weight, stress less, sleep better, eat better and feel happier? We are looking for Sydney families who are ready to change their lives.”
If that sounds more like you, head over to the McGregor Casting <a target="_blank" href="https://www.propertyobserver.com.au/https://www.facebook.com/pages/McGregor-Casting/128536090574264?ref=stream&amp;hc_location=timeline">Facebook page</a> for more details.
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The Block 2014 applications open and a new TV show is on the cards

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Summer nights songstress Olivia Newton-John has listed her beachfront Florida home for $6.2 million.
The Aussie star bought the four-bedroom <a href="https://www.propertyobserver.com.au/https://www.redfin.com/FL/Jupiter/104-Lighthouse-Dr-33469/home/42411620" target="_blank">Jupiter Island home</a> (picturd below) with her hubby and founder of herb company Trivita, John Easterling, in 2009 for $4.1 million.
{yoogallery src=[images/stories/2013/06/june27jupiter]}
The couple spent approximately $2 million renovating the property in 2010, which now features hurricane impact-rated glass windows and doors – a necessity for tropical storm laden Florida.
Situated on 1,393 square metres, the property boasts a lagoon style pool, lush tropical landscapes and a private boat dock.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34" style="font-size: 14px; margin: 5px; float: left;">
Meanwhile, Geelong girl Portia de Rossi and her wife Ellen DeGeneres have reportedly splashed out and bought an estate in Montecito California for over $20 million.
Reports say the pair paid $26.5 million for the lavish Saladino Villa but it was advertised on listing agent Susan Burns’ <a href="https://susanburns.com/address.php?property_ID=86&amp;aic_SearchStart=0&amp;statusID=" target="_blank">website</a> for $22 million.
{yoogallery src=[images/stories/2013/06/june27saladino]}
The property was originally designed by architect Wallace Frost and built with local stone quarried onsite in the 1920s. 
Architect and interior designer John Saladino purchased the property in 2001 and spent a year injecting it with new life, from new windows and doors to antique Venetian statuary.
The 980-square-metre Saladino Villa boasts six bedrooms, a gourmet country kitchen with a beamed ceiling and a library/media room.
The home sits on 5.2 hectares and features an ocean-view swimming pool, 18th century Spanish entry gates and a 2,000-year-old roman column.
Saladino Villa was originally listed for $24.5 million in 2010 but the price was dropped in January 2012 to $22 million, according to Zillow.
The mansion is just another to add to the portfolio, with DeGeneres owning several other properties in Los Angeles, including Beverly Hills and Hidden Valley.
<div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34" style="font-size: 14px; margin: 5px; float: left;">
Across the other side of the USA in New York, Westfield founder Frank Lowy has splashed out $13 million for a three-bedroom apartment in the Trump International Hotel and Tower.
Located on level 35, the 284-square-metre apartment features 4.5 bathrooms and Central Park views through floor to ceiling windows.
Lowy purchased the apartment from Darren Star, the creator of Sex and the City, Beverly Hills 90210 and Melrose Place.
Star purchased the apartment for $6.1 million in 2005 and enlisted interior designer and architect Waldo Fernandez to renovate it.
{yoogallery src=[images/stories/2013/06/june27star]}
It was originally listed in September 2012 for $14.9 million.
</div>
<div> </div>
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Aussies keeping US realtors busy: Olivia Newton-John, Portia de Rossi and Frank Lowy

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.

[smartcode_project:default project_id=1979 project_image_fid=363284]

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."

[smartcode_project:default project_id=1979 project_image_fid=363228]

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."

[smartcode_project_cta:default project_id=1979]

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.

[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

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.

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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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