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A sub-penthouse apartment in Milson’s Point with Sydney Harbour views is on the market for $5.5 million.
Located on Alfred Street, the 250-square-metre sky home is located on the 14th floor.
It includes three bedrooms, four bathrooms with marble and granite features and two balconies boasting 300-degree views of the CBD.
One of only two sky-homes in the complex, the two-level penthouse has only just been vacated.
Listing agent <a target="_blank" href="https://www.lifestylepropertyagency.com/property/118-alfred-street-milsons-point-2/">Carlie Ziri of Lifestyle Property</a> says the vendor is happy to sell if the right buyer comes along, or will continue to rent out the penthouse for $3,000 a week.
The sky home has a rental yield of 2.84% if rented out for $3,000 at a purchase price of $5.5 million.
The median unit price in <a target="_blank" href="/news">Milson's Point</a> is $866,000, and has a median rental yield of 4.3%, according to RP Data.
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Sub-penthouse apartment in Milson's Point seeks $5.5 million or $3,000 weekly rent

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The Block Sky High was the second most watched show around the nation last night – behind Nine News - with House Rules only a mere 40,000 ratings behind.
This week the teams on The Block Sky High are tackling the heart of the house, the kitchen, and last night secured a rating of 1.276 million, according to OzTAM. But the over emphasis on Trixie's birthday may have prompted the narrowing of the gap. 
In the 8pm slot, House Rules secured a rating of 1.236 million – the closest it's come to The Block on Thursday nights, according to the five metro cities ratings report.
The House Rules teams are currently renovating the Nundah, Brisbane Queensland house and a 2am bathroom flood on newly laid tiles may have attracted extra viewers.
The <a target="_blank" href="https://www.propertyobserver.com.au/news/house-rules-knocking-on-the-door-of-the-block-sky-high-houserules-theblock9-theblock-houserules_on7/2013061162132">House Rules whole house reveal</a> on Monday night secured a rating of 1.365 million.
The Block Sky High Unlocked fell to ninth place last night – the half hour catch up show at 8pm – with A Current Affair, Today Tonight, Home and Away and ABC News all climbing in front.
The one hour show saw less reno work being down and more celebrating, as contestant Trixie celebrated her birthday with breakfast in bed and drinks on a Yarra boat ride.
The Block Unlocked had a rating of 886,000 last night and 899,000 the week before.
The Block Sky High is proving to be a favourite in both Sydney and Melbourne, with a Sydney rating of 329,000 and a Melbourne rating of 439,000.
House Rules rated 267,000 in Sydney and 320,000 in Melbourne.
However House Rules is a favourite in Perth, with a rating of 228,000 and Adelaide with 148,000 viewers.
Brisbane doesn’t seem to prefer one over the other, with The Block recording a rating of 271,000 and House Rules recording 273,000.
You can keep up to date with all our House Rules stories <a target="_blank" href="?option=com_googlesearch_cse&amp;q=house%20rules">here</a>.
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The Block still soaring high but a leaking House Rules catches viewers

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As we batten down the hatches to get through a cold and wet winter, Property Observer takes a look at nine of the most alluring fireplaces that will have you reaching for the marshmallows.
At the top of the list, Calibre menswear fashion owner Gary Zecevic's 1920s <a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/calibre-menswear-fashion-owner-gary-zecevic-lists-1920s-toorak-home/2013050961180">English Tudor style Toorak mansion</a> features a large stone fireplace (pictured below) in the lounge room.
<img src="/images/stories/2013/06/toorak_0002_3.jpg.jpg" width="470" height="313" alt="toorak_0002_3.jpg">
It also includes several elegant fireplaces in other rooms.
The property features five bedrooms, five bathrooms and has been featured in Belle magazine.
Property Observer previously <a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/dodo-founder-larry-kestelman-seeks-to-exhume-brighton-trophy-home-market-with-%2412-million-plus-listing/2013053161814">reported</a> on this house listing – owned by Dodo founder Larry Kestelman – but the unique fireplaces were hard to go past.
Located in the beachside suburb of Brighton, this <a target="_blank" href="https://www.realestate.com.au/property-house-vic-brighton-113916571">mansion</a> boasts two suspended pivoting ellipsoid open wood fireplaces (pictured below) and one pebble open fireplace.
<img alt="fireplacejune14one" height="348" width="470" src="/images/stories/2013/06/fireplacejune14one.jpg">
The property includes five bedrooms, eight bathrooms and a Vodka bar.
A four-bedroom, four-bathroom home <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-avalon-113392875">on Chisolm Avenue in Avalon</a> has also incorporated a suspended revolving fireplace (pictured below).
<img alt="fireplacejune14two" height="350" width="470" src="/images/stories/2013/06/fireplacejune14two.jpg">
It is located in the dining and lounge area, which opens up to an outdoor entertaining area overlooking the Pittwater.
Two hours down the road in Far Meadow, this <a target="_blank" href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-far+meadow-113323439">farmland homestead</a> features an open plan living pavilion with a central double-sided fireplace (pictured below).
<img alt="fireplacejune14three" height="350" width="470" src="/images/stories/2013/06/fireplacejune14three.jpg">
The double-sided fireplace sits between the lounge and dining, which are surrounded by glass doors and windows offering views of the farmland, ocean and mountain ranges.
A <a href="https://www.realestate.com.au/property-house-nsw-paddington-113972247" target="_blank">Victorian terrace</a> in Paddington has been untouched for almost 50 years and offers five ornamental fireplaces.
<img src="/images/stories/2013/06/fireplacejune14four.jpg" width="470" height="348" alt="fireplacejune14four">
Located on Brown Street, it is the first time the three-bedroom home has gone on the market since the 1960s.
 
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In contrast to this, a <a href="https://www.realestate.com.au/property-house-wa-city+beach-113787331" target="_blank">modern two-storey home</a> in City Beach WA features a floor to ceiling marble feature gas fireplace (pictured below) in the formal lounge room.
<img src="/images/stories/2013/06/fireplacejune14five.jpg" width="470" height="352" alt="fireplacejune14five">
The property also features four bedrooms and three baths.
A <a href="https://www.realestate.com.au/property-house-nsw-stanmore-113925703" target="_blank">Victorian terrace</a> in Stanmore New South Wales features original twin marble fireplaces and high ceilings in the lounge and dining room.
<img src="/images/stories/2013/06/fireplacejune14six.jpg" width="470" height="348" alt="fireplacejune14six">
With interiors by Greg Natale, the four-bedroom home has recently been featured in Belle magazine.
Although they don’t feel the chill as much as the south, a retreat in the Tamborine Mountains Queensland has its guests feeling cosy all year round.
The property features six villas and a three-bedroom residence, each with their own log fireplace.
The main building features the <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-tamborine+mountain-111632279" target="_blank">Grand Guanaba Room</a> with a large stone fireplace (pictured below), sitting in front of three large windows overlooking the rainforest.
<img src="/images/stories/2013/06/fireplacejune14seven.jpg" width="470" height="345" alt="fireplacejune14seven">
Last but not least, <a href="https://www.realestate.com.au/property-house-vic-mornington-113915539" target="_blank">Combe Martin</a>, located on the Esplanade in Mornington features intricate marble open fireplaces throughout the neo Tudor style home.
<img src="/images/stories/2013/06/fireplacejune14eight.jpg" width="470" height="350" alt="fireplacejune14eight">
The home is named after the seaside village hamlet in North Devon England.
A marble fireplace is located in the billiards room, sitting room and the gentleman’s mahogany library.
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Nine of the most alluring fireplaces as we face a cold and wet winter

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A four-bedroom cottage located on 1,014 square metres of Castlecrag land that was favoured by Marion Mahony Griffin has been listed for sale for $1.7 million-plus.
The model suburb Castlecrag, located on the lower north shore of Sydney, was developed during the 1920s by Chicago-born Walter Burley Griffin and his wife Marion Mahony Griffin.
Griffin chose the allotment on The Bartizan as her preferred location, however sold it to the Hopkinson family in 1943 following their departure.
The cottage was built in 1947 by architect Bim Hilder - an associate of Walter Burley Griffin- and incorporates Griffin influences.
The home features vaulted ceilings, bay windows, views over the harbour and a Bim Hilder sculpture over the fireplace.
The property last sold in 1996 for $550,000 and renovations were undertaken in 2006, including a terrace deck and a ceasarstone kitchen.
The property was heritage listed in 2003.
The home is listed through <a href="https://castlecrag.ljhooker.com.au/CSNF5K" target="_blank">Heidi King of LJ Hooker</a>.
Property Observer recently reported on two <a href="https://www.propertyobserver.com.au/new-south-wales/alex-popov-designed-castlecrag-trophy-home-set-for-auction-trophyhomes/2013060361889" target="_blank">Alex Popov-designed listings</a> in Castlecrag.
The median house price in <a href="/news">Castlecrag</a> is $1,737,500 according to RP Data.
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Castlecrag cottage with Walter Burley Griffin influences seeks $1.7 million-plus

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A Glenn Murcutt-designed home in Kangaroo Valley – The Walsh House – has been listed for sale with a price tag of $1,975,000. 
The two-bedroom, two-bathroom property was constructed over four years for Rosemary and Robert Walsh, an immigration lawyer.
The property sits on 2.02 hectares, 100 metres above sea level. The Walshes bought the two-hectare block in 1999 for $230,000.
The properties southern and western facades are crafted using rustic materials due to facing the winds of winter and feature few windows.
The northern and eastern facades feature more refined materials and open up to views of Kangaroo Valley.
Each room in the house is protected by adjustable louvres to control the daylight in each room.
Murcutt is known for paying attention to the environment and creating economical and multi-functional buildings.
Kangaroo Valley is located in the Illawara region of New South Wales.
The property is listed through John Renouf and Drew Lindsay of <a target="_blank" href="https://www.drewlindsay.com.au/property/the-walsh-house-kangaroo-valley-new/">Drew Lindsay Real Estate Bowral</a>.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
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Glenn Murcutt-designed trophy home in Kangaroo Valley listed

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A globe trotting family has listed their four-bedroom home in Brighton for $2.65 million in a plan to move closer to the Melbourne CBD.
Located on Downes Avenue, the 927-square-metre property sits opposite the Kamesburgh Gardens. 
The home features two reception rooms, a separate bar room, four bathrooms and floor to ceiling glass doors lead to an outdoor terrace.
A pool house with a kitchen, sauna and bathroom accompanies the outdoor heated pool.
The property was purchased in July 2007 for $2.5 million.
Vendor Zac Rosenberg works in the bank industry and met his wife in Singapore.
They have since lived in London, Tokyo, Singapore and Hong Kong and have three children.
The home was rented out for $1,800 a week during 2011 before the family returned back to Melbourne in 2012.
The property is listed through Stewart Lopez and Bert Geraerts of <a target="_blank" href="https://www.kayburton.com.au/property/16-downes-avenue-brighton">Kay and Burton</a> after it had been listed for June 1 auction.
Initial price expectations were $2.4 million.
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Four-bedroom home in Brighton seeks $2.65 million

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Property valuers Herron Todd White have warned the re-sale of metropolitian Melbourne off the plan properties might be challenging as overseas buyers account for a large portion of the market.
“Off the plan properties may be tempting with 10% deposits and reduced stamp duty, however a large portion of demand is coming from overseas.
“The majority of foreign investors are only able to purchase new off the plan properties, so when it comes to selling years later, your market pool has shrunk considerably.”
The valuers say the Melbourne apartment market is currently being watched very closely as evidence continues to emerge of an oversupply of apartments in the development pipeline, particularly in the metro area, with approximately 25,500 expected to be completed by the end of the next year.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/trends/matthew-guys-high-rise-vision-for-melbourne-could-be-a-pipe-dream-australia108-towermelbourne/2013061162045">reported</a> on Matthew Guy's approval of three new major skyscrapers in the Melbourne CBD, with the planning minister having almost a "manhattan-like-skyline vision."
Property consultants Charter Keck Cramer (CKC) anticipate a 30% rise in new apartments to be completed over the next three years taking total inner city apartment numbers from around 30,500 currently to over 42,000 by 2015.
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Melbourne off the plan re-sale warning: Herron Todd White

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The Tasmanian tourism icon Pub in the Paddock - with Pinky the pig - is still on the market for $799,000.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/leisure/pinky-the-pig-pub-in-the-paddock-at-pyengana-tasmania-listed/2012081956113">reported</a> on the Pyengana listing in August last year.
Located on St Columba Falls Road and formerly known as the St Columba Hotel, Pub in the Paddock is infamously known for its beer-drinking pigs.
Located on 2.8 hectares, the hotel was built in 1880 and features six country-style guest rooms, a restaurant and commercial kitchen.
The main bar features an open fireplace and also included is a liquor and beverage store and an office.
The pig-beer-guzzling-pub was originally listed in 2008 for over $1.1 million, but failed to sell.
“This property is perfect for the owner operator, offering a lifestyle that most can only dream of,” says listing agent Nereda Ball of <a target="_blank" href="https://sthelens.ljhooker.com.au/558FN1">LJ Hooker St Helens.</a>
Ball told Property Observer this week that there has been a lot of interest in the listing, but no buyers as of yet.
The current vendor has owned the pub for nine years.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
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Tasmania's trophy Pub in the Paddock and Pinky the pig still on market

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Interior designer Carolyn Burns-McCrave from Channel Seven’s renovation show House Rules has put together a house rules list for those dabbling in DIY.
Burns-McCrave says a good floor plan is at the heart of a successful design and that each space should be tailored to the people who live there.
Burns-McCrave (pictured below) says she likes to work from the inside out; creating spaces that function and flow before thinking about colours and accessories.
<img alt="carolynburnsmccrave" height="396" width="400" src="/images/stories/2013/06/carolynburnsmccrave.png">
This involves maximise light and space, as well as garden views before layering on the pretty – that is, furniture, artwork and accessories.
House Rules has been <a target="_blank" href="/news">renewed for a second series</a> with the Channel 7 ratings sitting above one million after a slow start.
The Burns-McCrave’s six house rules given to CommBank customers were:
1. Take a good look at what you are renovating before you start. Do you need to make any structural alterations? Do you need to repair anything, or just beautify it? Are the essentials – plumbing and electrics – in order?
2. Make a wishlist of all the changes you would love to make, whether you believe they are possible or not.
3. Enlist professionals. Even if it’s just for a one-off visit, a design professional will know if and how your dreams can become a reality. They’ll also have a ballpark idea of price, so you can start to work out if what you want is within your budget.
4. Work out the logistics. a) Will you do this all at once or bit by bit? And b) Will you live in the house while work is underway? Or will life be easier (and less dusty) if you move out for a few months? How will where you live affect the rate of progress of your reno and your stress levels?
5. Find a builder you can work with. Get at least three quotes and talk to the builders to get a feel for how they interact and deal with potential crises. Ask for personal references so you can find out how other people experienced working with them.
6. Don’t be afraid to do something different. Just because your idea hasn’t been featured in a home magazine or on TV doesn’t mean it won’t work and won’t be fabulous. Remember this is your project, and you are the boss.
Setting up her own interior design business, Burns McCrave Design, with her husband Leonard six years ago, Carolyn loves being an interior designer.
“I take great delight in figuring out what my clients want and giving them a well thought out floor plan that will cater to all their practical needs,” says Carolyn.
“It’s about layering all the beautiful things that make it look as if it has all been thrown together when in fact it has been styled within an inch of its life.”
Recalling her favourite childhood memories as “going to display homes and looking at beautifully designed houses”, Carolyn has seemingly always been obsessed with design.
She readily admits she spent most of the 1980s moving her parents’ furniture around, sponging walls and using baking paper to trace over real estate floor plans. After completing a diploma of arts in interior decoration and design, Carolyn spent eight years working at the Melbourne design firm SJB Interiors, before setting up her own business.
Designing and renovating her own house, a 1950s cottage, with her building designer husband, Carolyn loves mixing expensive designer furniture, such as her original Herman Miller Noguchi coffee table, with furnishings from Ikea to give a layered, personal look which she says is in vogue at the moment.
Carolyn assists the six contestant couples who are then scored by the show's judges.
They are Sydney-based architect Joe Snell who completed a Bachelor of Science with a major in architecture and moved to London to become a real estate agent for two years.
<img alt="snellmay14one" src="/images/stories/2013/05/snellmay14one.jpg" width="400" height="803">
Upon returning, Snell completed his Bachelor of Architecture at The University of Sydney and joined his father's firm, Snell Architects.
Snell judges House Rules alongside Wendy Moore, who is the editor of Home Beautiful magazine and has been in the magazine industry for more than 20 years.
Moore (pictured below) became editor in 2006, having previously worked on Australian Women's Weekly, Woman's Day and Burke's Backyard magazine.
<img alt="mooremay14one" src="/images/stories/2013/05/mooremay14one.jpg" width="400" height="755">
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Layering underpins Carolyn Burns-McCrave's six renovation House Rules

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The Chenchow Little-designed, Freshwater House is on the market for the first time with a price guide of over $4.75 million.
Built in 2008, Sydney's Freshwater House won the coveted Robyn Boyd award – Australia’s peak architectural award for residential – in 2009.
The property features four bedrooms and three bathrooms over three levels, with the upper level dark-bronze panels retracting at the push of a button.
The entertainer’s kitchen includes three ovens and three sides of the house feature large sliding glass doors.
The property also boasts an elevated swimming pool with a waterfall and garden.
Located on Undercliff Road, Freshwater House is only metres from Freshwater Beach and offers ocean views.
“The market in Freshwater has been very strong of late with more buyer interest than we have seen before the global financial crisis,” says listing agent Michael Clarke of Clarke and Humel Property.
“Interest in this particular property has come from all over Sydney and Australia, with several overseas buyers also showing interest,” says Clarke.
<a target="_blank" href="https://freshwaterhouse.com.au/home">Freshwater House will go under the hammer on June 22</a>.
The median house price in <a target="_blank" href="/news">Freshwater</a> is $1,242,500 according to RP Data.
The Undercliff Road residence had been listed earlier this year with price hopes of more than $7 million.
Property Observer reported on a <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/chechow-little-designed-palm-beach-house-seeks-%24285m/2013040460014">Palm Beach Chenchow Little-designed home</a> earlier this year.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
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Chenchow Little-designed trophy home Freshwater House listed

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.

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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.

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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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