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The additional funding for city-based property buyers, workers and small business owners moving to regional New South Wales could be a potential game changer, according to Chief executive officer of Raine &amp; Horne Angus Raine.
Additional funding includes the $7,000 Regional Relocation Grant, which was expanded from the start of January to include long-term renters in metro Sydney, Newcastle and Wollongong and the Skilled Regional Relocation Incentive.
The Skilled Regional Relocation Incentive is worth $10,000 and encourages people to relocate for jobs unfilled by regional workforces, with a minimum relocation distance requirement of 100 kilometres.
“The incentive for skilled workers is a very smart move as it will attract key people to regional towns to help drive those economies – and of course eventually they'll buy houses – and hopefully create jobs for others to buy and rent properties.
“Given that Sydney median house prices have crashed through the $700,000 ceiling, buying a home in regional towns such as Tamworth (median house price $290,000), Wagga Wagga ($320,000), Port Macquarie ($385,000), and Orange ($331,000) makes enormous sense,” says Raine.
Raine says it’s important to do your research if you’re wanting to find a property with potential long-term growth.
“Look for regional towns with viable and growing economies and populations – the Australian Bureau of Statistics or the local council are great sources of data about the demographics of a town.
“A regional town with excellent long-term growth prospects should have decent infrastructure in place – public transport, major roads, hospitals and schools.
“The growth towns will essentially have all the lifestyle benefits we associate with city living, such as cafes, restaurants, cinemas and so on,” says Raine.
Raine says those looking to relocate should act soon as the grants will be capped by the 13/14 budget allocation of $10.4 million.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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ntrotman-Et3xWpamVh

Additional funding for NSW regional movers a potential game changer

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Wickham has been chosen as the location to boast a fully accessible interchange as part of the first stage of the Newcastle light rail line.
The announcement by the NSW Government was made over the Christmas break, but the Government is yet to determine where the light rail will travel between Wickham and the beach.
“This is about providing the first stage of a light rail system for Newcastle – connecting people to prominent, vibrant areas of the city centre, such as the Honeysuckle precinct and Hunter Street, and encouraging ongoing investment,” says Minister for Planning and Infrastructure Brad Hazzard.
Two potential short-listed light rail routes include the rail corridor and Scott Street to near Newcastle Beach at Pacific Park, or Hunter Street and Hunter Street Mall to near Newcastle Beach at Pacific Park.
The community will get to have their say on the potential routes, with a community consultation starting early this year to seek feedback.
“Both options promote urban renewal and improve access to key destinations in the Newcastle city centre – supporting Newcastle and the Hunter’s revitalisation.
“Consultation with the community, which we will start in the new year, will be critical to our decision-making about Newcastle’s future light rail system,” says Hazzard.
Minister for Transport Gladys Berejiklian says the Wickham interchange will offer direct access from trains on the Hunter and Central Coast lines.
“A transport interchange at Wickham will help create a new business district within the emerging Newcastle CBD at the western end of Newcastle city centre,” says Berejiklian.
Hazzard says the introduction of a light rail and the interchange at Wickham will help bring jobs, residents and visitors into the Newcastle city centre.
More than 11 hectares of undeveloped land is located within 400 metres of Wickham, meaning the interchange could also trigger significant development and economic growth.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Wickham to act as crossing point for Newcastle light rail line

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Some 3,200 new homes are to be delivered in Sydney’s south west as a bid by the New South Wales Government to boost Sydney’s housing supply.
Located in the Catherine Field precinct, the first blocks of land will go on sale this year, with homes to be available in 2015.
Some 44,628 homes were approved in New South Wales in the 12 months to October, making it the highest level since 2005, according to the ABS.
“There’s a massive housing boom occurring in NSW that is being driven by the unlocking of more land for new homes by the NSW Government,” says NSW Premier Barry O’Farrell.
“We are making homes more affordable and in the process Western Sydney is being transformed into a tradies paradise, with the creation of thousands of jobs in the construction sector,” says Farrell.
More than 60,000 first home owners received a helping hand by the NSW Government last year with an extra 2,814 grants paid out – almost an 80% increase on 2012.
“The new homes will be supported by $30 million of essential infrastructure that will be delivered or funded by the two main construction firms involved in the project,” says Minister for Planning and Infrastructure Brad Hazzard.
“This includes protecting Oran Park House through a future listing on the State Heritage Register, constructing an extension to Rickard Road, upgrading Oran Park Drive, providing land for a new primary school and building the main sewerage line.
“Catherine Field is the seventh major precinct rezoning in the Growth Centres in Western Sydney since the NSW Liberals and Nationals came to office in 2011.
“Together, those seven rezonings will see the construction of about 50,000 new houses - news every homebuyer wants to hear,” says Hazzard.
Treasuer Mike Baird says the NSW housing sector is in better shape than it has been for a decade, but there is much more work to do in order to get more first homebuyers into the housing market sooner.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Sydney's housing boom to continue with 3,200 new homes in south west

Top apps every property investor should use

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Residents in the Waterford Rise estate in Warragul have welcomed lightning-fast internet speeds some 10 years ahead of their neighbours as part of Australia’s high-speed internet rollout.
The Baw Baw Shire mayor Cr Murray Cook activated the new fibre-optic connection last week by a click of a button.
The estate has skipped the National Broadband Network rollout queue with installation by a private operation Redtrain Network, at no cost to the developer.
When planning the estate, the developers chose to have the fibre-optic connection installed by Redtrain, which offers lightening fast speeds to residents years before the NBN rollout.
“Importantly, Redtrain has “future-proofed” the connection so that no more civil work will be required because the network is designed to cater for up to a gigabit connection to each individual house premises,” says David Setiady director of Redtrain Network
“This means that that the connection is there to cater for any commercial enterprises or health or educational institutions in the Warragul region where Redtrain deploys its network, that may need access to such high levels of bandwidth in the future,” says Setiady.
“Importantly, it will also have significant benefits for Waterford Rise residents who work in Melbourne’s CBD, with the high speeds allowing them to work from home, or ‘tele-commute,’ a number of days a week,” says Glenn Sanford general manager of Baw Baw developments..
The estate will house around 3,000 people when it is completed.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Waterford Rise residents welcome lightening fast internet speeds ahead of NBN rollout

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A $31 million mixed-use apartment complex on the Ballina Riverfront is set to break the six-year development lull in the area if given the green light by the council.
Known as Reside Living Ballina, the former Sundowner Motor Inn site will host 36 apartments aimed at downsizing baby boomers and empty nesters.
Located at 274 River Street, the project will host 794 square metres of ground floor commercial space, including a waterfront café and restaurant tenancy and four other spaces aimed at convenience and medical service providers.
Developed by Reside Living, the apartment complex will feature 21 three-bedroom apartments, 10 two-bedroom apartments and five one-bedroom apartments.
Residents will have access to a communal vegetable garden.
“We believe it certainly heralds a new property cycle for Ballina and the move certainly reflects the developer’s confidence in the area’s strong appeal as a lifestyle destination, especially for the baby boomer market,” says project marketing agent Dean Shay of LJ Hooker Ballina.
“In addition to being one of the most established coastal towns in Northern NSW, Ballina boasts stunning beaches and waterways, and is well serviced by transport, community and commercial infrastructure.”
Shay says the opening of the $640 million Ballina Bypass and the $359 million Banora Point highway upgrade has improved driving times between Ballina and Brisbane.
Simon Green of Reside Living says empty nesters will reap the benefits of being in the centre of the town, close to shops, professional services and recreational pursuits including the local entertainment hub, Baillina RSL.
If approved Reside Living Ballina is set to launch in early 2014 and construction is planned to start mid-2014.
The project is forecasted to create 150 new jobs during the 12 month building phase.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Reside Living Ballina could break six-year development lull

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Crown Group has unveiled a new conceptual image of its $80 million Viking by Crown development in Waterloo, and has hopes to open a new in-situ display apartment in late January.
“In an industry where it is imperative to stay ahead of the pack and find new and innovative ways to help people engage with our product, the new display apartment will allow clients to step inside a real Viking by Crown apartment for the first time,” says Crown Group director of sales and marketing Adam Sparkes.
“The brand-new image completes the picture, giving buyers a view of Viking by Crown’s bold, eye-catching exterior when completed,” says Sparkes.
Designed by MPRDG and located in Sydney’s new Green Square precinct, the development will feature floor-to-ceiling glass, a wide loggia and views to the CBD and adjoining parklands.
Its coloured panel louvres in O’Dea Avenue are expected to create an ever-changing hue on its façade.
<img src="/images/stories/2013/12/20/nicolaflicker.jpg" width="630" height="354" alt="nicolaflicker">
Inspiration for the design was drawn from the work of internationally renowned Israeli artist Yaacov Agam, founder of the post-war kinetic art movement and creator of ground-breaking sculpture, paintings and architecture
“Viking by Crown’s striking architecture sets it apart from other more generic developments in the Waterloo area,” says Crown Group project sales manager Anthony Falas.
“Viking by Crown is attracting buyers which the area’s other developments are failing to entice.
“It’s the epitome of low-maintenance but luxurious lifestyle,” says Falas.
Viking by Crown will feature 110 apartments across 10 storeys, 25-metre pool, gymnasium and a ground floor terrace café.
Only 10 apartments remain, including two-bedroom apartments ranging in size from 123 square metres to 130 square metres in total and priced from $995,000.
Seven three-bedroom apartments remain ranging in size from 147 square metres to 273 square metres and start from $1.27 million.
The two-bedroom display apartment is set to open in late January, ahead of Viking by Crown’s expected completion date of mid-2014.
Viking by Crown began <a target="_blank" href="https://www.propertyobserver.com.au/developments/crown-group-to-begin-construction-on-viking-apartments-at-green-square-waterloo/2012041754313">construction in 2012</a>.
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Crown Group unveils new Viking image 

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Melbourne’s most slender tower has been approved for Southbank, measuring just 12 metres wide at its narrowest point.
Minister for planning Matthew Guy approved the tower today, which will stand 240 metres high with 73 storeys.
“Melbourne is proud to be developing some of the most innovative and advanced skyscraper designs in the world,” says Guy.
“While other skinny buildings are called ‘pencil towers’, this building displays a slender, twisting flower stem design. 54 Clarke Street has strong architectural features to ensure it embodies a slender, sophisticated style all the way from a 'webbed' foundation at ground level.
“This proposed skyscraper at 54 Clarke Street is similar to slender skyscrapers in major cities overseas, like New York’s skinny towers One Madison Park or 785 Eighth Street,” says Guy.
The tower, designed by Melbourne architectural firm BKK (Black Kosloff Knott) will feature 256 apartments and a ground-level café.
The tower follows in the footsteps of Melbourne’s first skinny building -the Phoenix building – at 108 Flinders Street.
Guy says there are six built or approved buildings in Melbourne that are taller than the 54 Clarke Street site, but none as slender.
“Melbourne's engineering, design and construction skills base provides a strong foundation for investment and highly skilled employment growth into the future.
“This is a key part of the Coalition strategy of growing the economy, and increasing jobs for our future,” says Guy.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Guy approves Melbourne's most 'skinny' tower for Southbank

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Noosa Heads is on the cusp of solid price growth and sales activity over the next 12 months after prices slipped more than 25% following the GFC.
“I expect the market to regain a considerable part of that lost ground during 2014,” says Tom Offermann of Tom Offermann Real Estate.
Offermann says the busy springtime activity has set the scene for recovery.
“Noosa is still in early recovery mode – we are six to nine months behind the Sydney and Melbourne markets,” says Offermann.
Offermann says his agency is recording a 74% clearance rate, compared with just 42% at the same time last year.
Prior to the September election, Offermann says the market wasn’t really responding to lowering interest rates or the value on offer.
“Everyone was waiting for someone to go first.
“After the election a number of long-standing properties for sale started selling and buyers sitting on the sidelines felt they were missing out.
“They knew they had to jump in quickly as their choices were being depleted,” says Offermann.
Offermann says there is still great value around, but the longer investors leave it, the higher the prices they will need to pay to get into a limited market.
Overseas buyers represented about 5% of sales and were predominantly expatriates living in Asia and Europe.
The median house price in Noosa Heads is $672,500, a 14.3% decline in the past five years, according to RP Data.
The median unit price is $465,000, a 35.9% decline in the past five years, according to RP Data.
A three-bedroom cottage on Samara Place is on the market for $519,000.
Situated on a 530 square-metre block, the property last sold in 2007 for $520,000.
It is listed with Jason Wedge of <a target="_blank" href="https://www.realestate.com.au/property-house-qld-noosa+heads-115439359">Century 21 Conolly Hay Group Noosa Heads</a>.
{yoogallery src=[images/stories/2013/12/18/noo1]}
On the other end of the spectrum, a four-bedroom home on Nairana Rest is on the market for $1.55 million.
Situated on 506 square metres, the home last sold in 2009 for $1.3 million.
It is listed with Kate Cox of <a href="https://www.realestate.com.au/property-house-qld-noosa+heads-115373915" target="_blank">Richardson &amp; Wrench Noosa Heads</a>.
{yoogallery src=[images/stories/2013/12/18/noo2]}
 
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Suburb spotlight: Noosa set for price growth and sales activity in 2014

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All land lots in the masterplan development The Fields successfully sold at auction, with majority of buyers flocking from adjoining suburbs.
Located 45 kilometres from the Sydney CBD in Schofields, the 14 residential land lots went to auction last week with around 70 people attending.
“Typically land in this area is sold by a ballot system which is based on ‘first in best dressed’. However an auction sale allows buyers to compete for land on an even playing field,” says Laing+Simmons Hurtsville managing director Matthew Matthews.
The smaller lots of 350 square metres were priced from $320,000 with some larger lots securing $382,000.
The lots sold to a mixture of buyers, including builders who plan to offer house and land packages, as well as local couples and families.
<a target="_blank" href="https://www.propertyobserver.com.au/news/schofields-land-lots-in-latest-development-to-be-released-via-auction/2013120166683">The Fields</a> has an expected completion date of August 2014.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Local buyers flock to bid at The Fields

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

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

Joel Robinson

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

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

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

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

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Nicola Trotman

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