<html><body>
A six-bedroom Victorian terrace on Ocean Street in Woollahra sold recently for more than $7 million, and possibly close to $7.25 million.
The circa 1870 home has been redesigned by Tanner Architects and features three-metre-plus ceilings, American oak floors and marble fireplaces.
Vendors David and Louise Glen bought the property in 2009 for $4.9 million.
David is the managing director of ATM company Banktech.
The 765-square-metre home features three bathrooms and a marble island kitchen with Miele and Wolf appliances.
Outdoors, the property boasts Will Danger landscaped gardens, a glass-fronted swimming pool and an outdoor terrace.
The property was sold through Ben Collier of <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-woollahra-nsw-2025/174889">McGrath Edgecliff</a>. 
In 1988, the Victorian terrace was used as a Yugoslav Consulate and was involved in a diplomatic incident.
The Glens purchased Eltham, a circa 1880 home on Egdecliff Road in Woollahra in 2011 for $9 million.
The Victorian Regency-style home was purchased from the Roulstone who purchased the property in 2006 for $9 million.
Eltham boasts five bedrooms and four bedrooms over two levels and features a hanging chandelier in the kitchen.
The property is set on 1,518 square metres and includes a swimming pool, cabana and full sized tennis court.
Channel Seven director Bruce McWilliam purchased the two-storey property for $5.15 million in 2004 and renovated it, before selling it to the Roulstones.
The median house price in <a target="_blank" href="/news">Woollahra</a> is $1.84 million, according to RP Data.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
</body></html>

ntrotman-Et3xWpamVh

1870s Woollahra trophy home fetches $7 million-plus

<html><body>
Australian adventurer and author Denis Bartell has listed his canal home on Bribie Island for $1.09 million.
The four-bedroom property on Banksia Beach was built by architect Brad McLachlan.
Situated on an 839-square-metre allotment, the property includes an in-ground pool and a 10-metre fully serviced pontoon.
“The moment you walk through the secure gatehouse, you will be overwhelmed by the attention to detail, design, fixtures and fittings throughout,” says listing agent <a target="_blank" href="https://raywhitebribieisland.com.au/qld/banksia-beach/969413/">Shane C Richards of Ray White</a>.
“There are many prestigious homes on the island attracting some of Australia’s wealthiest due to its privacy and secluded lifestyle,” says Richards.
The property has been on and off the market since 2008.
Bartell has raised tens of thousands of dollars for the Royal Flying Doctor Service and the National Breast Cancer Foundation.
The median house price in <a target="_blank" href="/news">Banksia Beach</a> is $475,000.
</body></html>

Aussie adventurer and author Denis Bartell lists his Bribie Island home

<html><body>
The Australian Property Institute has elected Tony Gorman as the new national president.
Gorman - from the API’s Western Australian division – will take over from Phil Western who held the position for two years.
“My work both within the API and in my professional life has prepared me well and I’m keen to build on the legacy created by Phil Western, the API board, and the excellent work undertaken by API staff, led by CEO David Haythorn.
“I’m most excited about meeting with members and creating an open dialogue in regards to their needs, expectations and vision for the future,” says Gorman.
Gorman has previously held the position of chairman of the Continuing Professional Development Committee, Structural Review Committee and the vice president of the Western Australian division.
In 2011, Gorman was appointed junior national vice president of the national council.
</body></html>

Australian Property Institute elects Tony Gorman as new National President 

<html><body>
The number of auctions scheduled across the nation’s capital cities this week has dropped to 704, with RP Data attributing the fall to the Queen’s Birthday long weekend.
The national figure is must lower than the revised figure of 1,777 auctions last week and 1,687 auctions the previous week.
Last week, the clearance rate rose to 70.4%, up from 67.1% the previous week.
At the same time last year the clearance rate was much lower at 52.7% and only 1,339 auctions were recorded.
The weekly auction leader Melbourne has dropped below Sydney this week, with only 179 scheduled auctions, while Sydney has 350 scheduled.
It’s a big drop from last week, with Melbourne recording a revised figure of 822 auctions and 823 auctions the previous week.
Melbourne’s clearance rate increased last week from 69.2% the previous week to 71.6%.
Sydney recorded its highest weekly clearance rate in over a year last week at 80.3%, a strong increase from 71.1% recorded the previous week.
Sydney recorded a revised figure of 623 auctions last week and 598 auctions the previous week.
Auctions are forecast to bounce back after the long weekend.
</body></html>

Queen's Birthday long weekend cuts scheduled auctions especially in Melbourne: RP Data

<html><body>
An Alex Popov-designed home in Castlecrag is to go under the hammer for the first time with a $4.5 million-plus price guide.
The model suburb Castlecrag, located on the lower North Shore of Sydney in the city of Willoughby, was developed during the 1920s by Chicago-born Walter Burley Griffin and his wife Marion Mahony Griffin.
The four-bedroom, three-bathroom home is situated on a 1,043 square metre allotment and boasts 180-degree views.
Hidden behind sandstone walls and established gardens, the home features six metre high ceilings, a private north facing courtyard, custom designed fishpond and a heated lap pool.
The kitchen features twin Quarella stone bench tops and Viking Professional and Miele appliances.
Also included is a wine cellar with a capacity of 3,200 bottles and a French made Cheminees Philippe fireplace.
Listing agent Mark O’Brien of Richardson and Wrench says the listing has been very promising.
“There’s a recognition in the market that this is something special.
“Castlecrag is a small suburb, with less than 1,000 houses so there is not a big turnover,” says O’Brien.
The original home on the property was demolished after being purchased in 1998 for $1,435,000.
Located on Linden Way, the home will go to auction on June 12 through <a target="_blank" href="https://www.randw.com.au/879669/">Mark O’Brien of Richardson and Wrench Castlecrag and Northbridge.</a>
Property Observer <a target="_blank" href="/news">reported</a> on the sale of a $5.9 million Alex Popov-designed home in Castlecrag last month.
The median house price in <a target="_blank" href="/news">Castlecrag</a> is $1,737,500, according to RP Data.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
</body></html>

Alex Popov-designed Castlecrag trophy home set for auction

<html><body>
Renovation shows are proving to be a hit with Australian viewers, with The Block remaining popular in its seventh season and Channel 7's new House Rules.
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/house-rules-the-new-addictive-reality-television-show-on-the-block-renovates-for-keeps/2013051261200">DIY shows</a> are likely to have influenced and encouraged homeowners to give their own kitchen that lick of paint or change the tiles in their bathrooms.
Almost 5,000 renovations were listed on <a href="https://www.serviceseeking.com.au/" target="_blank">ServiceSeeking.com.au</a> in the last month, with a high level of renovation activity in Sydney, Brisbane and Melbourne.
ServiceSeeking.com.au gives customers an idea of how much money home renovation costs to possibly avoid overpriced quotes from tradespeople.
The website allows you to post your job, then sit back and wait for quotes to roll in.
Exterior painting is the cheapest trade service listed on the site, with an average quote of $40 per hour including paint.
Sydney accounted for almost half of the jobs, with <a href="/news">Blacktown</a> in Western Sydney taking out the renovation hot spot.
The median house price in Blacktown is $390,000 and the median unit price is $301,350.
The Hills Shire region took out the next two spots with <a href="/news">Baulkham Hills</a> and <a href="/news">Castle Hills</a>.
In Brisbane, <a href="/news">Mount Gravatt</a> listed the most renovations, followed by the Southeastern suburb <a href="/news">Eight Mile Plains</a> and <a href="/news">Morningside</a>. 
<a href="/news">Glen Waverley</a> topped Victoria’s list of DIY suburbs, followed by <a href="/news">Hampton Park</a> and <a href="/news">Mitcham</a>.
The average renovation was listed around $3,500.
Gina Rushton of ServiceSeeking.com.au says majority of the renovators on their site are part of “the Bunnings market”; that is, homeowners who have braved DIY where they can then call in the experts for the more difficult task. 
“It is the age of the DIY renovator of the Bunnings market; renovators who try to only need the experts for areas in which they don’t have the tools, skills or know-how.
“It isn’t uncommon for our builders to be called into unfinished homes where people have failed to do it all themselves, possibly inspired by shows like The Block.
“Our business have told us that they spend a lot of time completing half-done renovations,” says Rushton.
Allan Bayad from Handyman-Tastic says he would much rather start from new rather than trying to fix stuff-ups.
“If you or a mate start a renovation on your own and can’t complete it, then expect a trade to come to the rescue, then prepare to pay the full price," he says.
"Nine out of 10 households usually do it wrong. It’s not easy trying to fix stuff-ups."
Kitchens and bathrooms were the most popular renovation over the six months, followed by new floors and paint jobs.
The top eight renovating suburbs for New South Wales, Queensland and Victoria are as follows:
NSW
1. <a target="_blank" href="/news">Blacktown</a>
2. <a target="_blank" href="/news">Castle Hill</a>
3. <a target="_blank" href="/news">Baulkham Hills</a>
4. <a target="_blank" href="/news">Surry Hills</a>
5. <a target="_blank" href="/news">West Pennant Hills</a>
6. <a target="_blank" href="/news">Marrickville</a>
7. <a target="_blank" href="/news">Dee Why</a>
8. <a target="_blank" href="/news">Cherrybrook</a>
QLD
1. <a target="_blank" href="/news">Mount Gravatt East</a>
2. <a target="_blank" href="/news">Eight Mile Plains</a>
3. <a target="_blank" href="/news">Morningside</a>
4. <a target="_blank" href="/news">Coorparoo</a>
5. <a target="_blank" href="/news">Annerley</a>
6. <a target="_blank" href="/news">Aspley</a>
7. <a target="_blank" href="/news">Capalaba</a>
8. <a target="_blank" href="/news">The Gap</a>
VIC
1. <a target="_blank" href="/news">Hampton Park</a>
2. <a target="_blank" href="/news">Glen Waverley</a>
3. <a target="_blank" href="/news">Mitcham</a>
4. <a target="_blank" href="/news">Reservoir</a>
5. <a target="_blank" href="/news">Mount Waverley</a>
6. <a target="_blank" href="/news">Bentleigh East</a>
7. <a target="_blank" href="/news">Craigieburn</a>
8. <a target="_blank" href="/news">Yarraville</a>
</body></html>

Blacktown tops renovation nation as reality shows influencing the Bunnings market

<html><body>
A new Martin Friedrich-designed townhouse in South Yarra has been listed for sale with a price guide of $2.25 million-plus.
The Cliff Street residence features four bedrooms and three bathrooms.
Situated near the Chapel Street retail strip, the home boasts European oak flooring, a gourmet marble Miele kitchen and a rooftop terrace.
The property also features a multi-coloured outdoor pool with a water feature.
The 166-square-metre allotment housed a duplex when bought in September 2009 for $680,000. The duplex was later half demolished.
The remaining half of the duplex was incorporated into the new residence, which required an extra floor to be added underground.
The townhouse took more than two years to build.
The home is being sold via expressions of interest closing June 18 through Gary Ormrod and Darren Lewenberg of <a target="_blank" href="https://kayburton.com.au/property/51-cliff-street-south-yarra">Kay and Burton South Yarra.</a>
The median house price in <a target="_blank" href="/news">South Yarra</a> is $954,550, according to RP Data.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
</body></html>

New Martin Friedrich-designed South Yarra townhouse goes to market for $2.25 million-plus

<html><body>
Hobart houses are spending the longest time on the market - an average of 77 days - and are being discounted the most at an average of -12.2%, according to RP Data.
Hobart units are also being discounted the most around the nation at an average of -9.6% and an average of 103 days on the market, according to the week ending June 2 report. 
Melbourne comes in second with an average house discount of -8.7% and an average of 47 days on the market.
Adelaide units are the second most discounted at an average of -6.2% and an average of 76 days on the market.
<img alt="rpdatatimeonmarketjune3one" src="/images/stories/2013/06/rpdatatimeonmarketjune3one.gif" width="470" height="319">
<img alt="rpdatatimeonmarketjune3two" src="/images/stories/2013/06/rpdatatimeonmarketjune3two.gif" width="470" height="420">
<img alt="rpdatatimeonmarketjune3three" src="/images/stories/2013/06/rpdatatimeonmarketjune3three.gif" width="470" height="425">
‘Time on market’ (TOM) is simply the average number of days between when a property is first listed for sale and the contract date.
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by rpdata over the past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.
</body></html>

Hobart spends the most time on market and discounts the most: RP Data

<html><body>
Spanning four levels, a Hill Street, Toorak residence is on the market with a price guide over $7 million.
The property was designed by architect Nicholas Day, with help from vendor and property developer Gaby Tomkin.
Set within Paul Bangay landscaped gardens, the home has five bedrooms and five bathrooms.
There's a lift to all levels.
The basement includes a 1,500 wine bottle cellar and a gold class replica theatre, while level four features a rooftop entertainer’s terrace.
The home also features a Carrera marble kitchen with Gaggenau appliances, a table tennis recreation room, gymnasium and a pool.
The property is being sold via expression of interest closing June 17 through Darren Lewenberg and Ross Savas of <a target="_blank" href="https://www.kayburton.com.au/property/17-hill-street-toorak">Kay and Burton South Yarra</a>.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
</body></html>

Nicholas Day-designed Toorak home seeks $7 million-plus

<html><body>
A five-bedroom property in New South Wales Londonderry has been pushed to the top of this week’s top ten most discounted properties with a 44% discount, according to SQM Research.
The push comes after former list topper <a target="_blank" href="https://www.realestate.com.au/property-house-wa-fremantle-112917623">18 South Street Fremantle</a> went under contract.
The Londonderry property was first listed in August 2010 with a $2.3 million price tag.
After spending a whopping 959 days on the market, the Hughes Street property is now asking $1.29 million. 
The 2.83-hectare property is DA approved for a detached dual occupancy and farm shed.
Coming in second place with a discount of 43% is a one-bedroom Redbank Plains property.
The Barry Drive property was first listed in late February this year for $350,000 and after 84 days on the market has been slashed to $199,000.
Queensland continues to dominate the list with five properties listed, however SQM says although the bloodbath up north is over the aftermath may continue for some time to come.
The top ten discounted properties are
1.
 
<a target="_blank" href="https://www.realestate.com.au/property-other-nsw-londonderry-7296375">9 Hughes Street Londonderry 2753</a>
 
Days on the market: 959
Initial asking price: $2,300,000
Current asking price: $1,290,000
Reduction: 44%
 
2.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-redbank+plains-113103983">1 Barry Drive Redbank Plains 4301</a> 
Days on the market: 84
Initial asking price: $350,000
Current asking price: $199,000
Reduction: 43%
 
3.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-tangalooma-104624146">7 Cassidae Crescent Tangalooma 4025</a>
Days on the market: 1,511
Initial asking price: $1,495,000
Current asking price: $875,000
Reduction: 41%
 
4.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-lamb+island-112206275">4 Edgewater Place Lamb Island 4184</a>
Days on the market: 1,022
Initial asking price: $425,000
Current asking price: $249,000
Reduction: 41%
 
5.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-lamb+island-105155213">79 Perulpa Drive Lamb Island 4184</a>
Days on the market: 1,091
Initial asking price: $499,000
Current asking price: $298,000
Reduction: 40%
 
6.
 
<a target="_blank" href="https://www.realestate.com.au/property-other-tas-taranna-106879142">5756 Arthur Highway Taranna 7180</a>
Days on the market: 951
Initial asking price: $499,000
Current asking price: $299,000
Reduction: 40%
 
7.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-doolandella-112978863">38 Cloverdale Road Roolandella 4077</a>
Days on the market: 98
Initial asking price: $1,650,000
Current asking price: $1,000,000
Reduction: 39%
 
8.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228">15 Gretel Two Rocks 6037</a>
Days on the market: 1,239
Initial asking price: $1,100,000
Current asking price: 699,000
Reduction: 36%
 
9.
 
<a target="_blank" href="https://www.realestate.com.au/property-house-tas-spring+beach-106968687">368 Rheban Road Spring Beach 7190</a>
Days on the market: 924
Initial asking price: $760,000
Current asking price: $500,000
Reduction: 34%
 
10.
 
<a target="_blank" href="https://www.realestate.com.au/property-acreage+semi+rural-tas-deep+bay-112954503">124 Sky Farm Road Deep Bay 7112</a>
Days on the market: 161
Initial asking price: $599,000
Current asking price: $400,000
Reduction: 33%
</body></html>

Londonderry the new most discounted property as Fremantle, WA offering under contract: SQM

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

Nicola Trotman

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News