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2SM radio broadcaster John Laws’ Edgecliff triplex investment apartment has sold prior to its scheduled auction for apparently just under $3 million.
Property Observer <a href="/news">reported</a> on the listing last month, when slightly more than $3 million was tipped.
Buyers had concerns as to the possible impact of a nearby development.  
The apartment occupies almost the entire top floor of the Albert Street period triplex and features four bedrooms and two bathrooms.
Offering harbour views, it last traded at $2.03 million in 1998.
The sale was secured through James Keenan of <a href="https://rwdbgroup.com/nsw/edgecliff/966660/" target="_blank">Ray White Double Bay</a>.
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2SM Radio Broadcaster John Laws' triplex apartment sells prior to auction

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On Purchase or Pass this week, we are joined by Charles Tarbey, chairman of Century 21, to evaluate a potential investment property with concrete cancer in Tamarama.

Cancer is a terrible disease and almost everyone knows someone that has been affected by it. It doesn’t just affect humans though; it also attacks property in the form of concrete cancer. Many Australians may not have come across it when searching for a home or an investment, but for those living around Australia’s beaches, it’s becoming more common with all the salty sea air. So should it turn you off a property?

This renovators delight is a <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-tamarama-nsw-2026/139636" target="_blank">two-bedroom, one-bathroom unit</a> with undercover car space, 7.8 kilometres from the Sydney CBD. The block isn’t the best looking building from the rear lane access but only has nine units in it and has some tremendous views from the balcony. The property was advertised for sale for $795,000 as a deceased estate and will rent for $650 per week. The property is in need of a major renovation though, which is likely to cost around $80,000 if done properly, giving it an improved rent of $800 per week. The downside of the investment is the concrete cancer in the ceiling of the car park.

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Chris Gray: So just as a general thing Charles, for people who haven’t come across concrete cancer, how bad can it be?

Charles Tarbey: Oh look, it can be repaired, you can get through it without too much issue, it just depends on how much damage there is Chris. But it can be in the millions of dollars if you’re not careful, but particularly if it’s through the whole complex, that’s something that is going to affect the strata fees.

Chris Gray: So especially when you’re in a strata block and a bigger one, then people try to hide away from things and say I’ve got no money and then it does become a major problem.

Charles Tarbey: Yeah, and the sinking fund may not cover what’s needed, more money may need to be raised. You get in there and before you know it, you’ve purchased a property that you’ve got to raise a lot more money for yourself to be a part of that complex.

Chris Gray: Now certainly looking on the internal side of it, $80,000 to transform a unit is plenty of cash. If you increase the rent by $150 on that, is that a good use of your money?

Charles Tarbey: Yeah, if you look at the interest rates today, $80,000 is probably going to be a lot less in interest repayments than it would be in rent.

Chris Gray: It’s like $4,000 a year.

Charles Tarbey: Ok, you’ll pick up there. But I think it’s the capital gain you have to look at, that’s why you’re buying these places, at the end of the day you’re looking for the capital gain and I do think capital gain is on its way back over the next couple of years and going to surprise a lot of people.

Chris Gray: How important is it putting money into the strata, I mean there is a lot of people that have been in a unit for 30 years, that bought it for probably $100,000 and it’s now worth a million, but they’re stilling not willing, because they don’t have the cash, to put money into the strata.

Charles Tarbey: I watch with interest the different types of properties that are for sale right now in the market place and what’s happened over the last few years, and I’m fortunate enough to have an apartment in the city of Sydney. I purchased it in a complex and the reason I did is because the strata is so well run and over the last three to four years, that particular strata complex and the sales that have gone through there have increased in sales, when across the road they decreased in price. I’m sorry increased in price as opposed to decrease in price and that’s because of the way the strata is run. So I think it’s absolutely critical. You could get one of those small complexes and really make them look fantastic with a small amount of money and again, it increases the value.

Chris Gray: Sounds good. Now the property was actually sold, a contract fell over and it actually sold for $700,000 odd and based on that, purchase or pass for you Charles?

Charles Tarbey: Well I think it would be great for somebody who knew what they were doing. For me, I’m too lazy so I’m going to pass. You’d probably purchase because you have the time to go in and fix it.

Chris Gray: Yeah look, for me, the unit is in a great position but it’s not in the best condition. But for me, a quick four to six week renovation will give you a massive increase in rent and give you a similar increase in equity as well. I think you’re getting the property at a great price, so even if the cancer costs $10,000 or $20,000 I think it's still good so for me it’s definitely a purchase.

 

Other properties near the Eastern Suburbs

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Purchase or Pass? An investment property with concrete cancer in Tamarama

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Channel Seven’s House Rules recorded its highest non-house-reveal ratings last night when it trumped its Channel Nine competitor, The Block Sky High Unlocked in the 8 pm Thursday timeslot.
House Rules rated 1.007 million across metropolitan capitals last night, according to OzTAM, the fourth most watched show last night.
The Melbourne audience had a strong 270,000 viewers - due to it being <a target="_blank" href="https://www.propertyobserver.com.au/news/preston-house-rules-renovation-with-%24524000-mortgage-after-%24555000-purchase/2013052961771" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Melbourne house week</a> on the show. The series began in the boondocks of Perth and Hobart over the first two weeks.
The Block Unlocked, a half-hour catch up show, attracted 807,000 viewers, and its Melbourne audience was an even stronger 291,000.
It is the <a target="_blank" href="/news">second week</a> in a row that House Rules has fared better than The Block when both shows have been on air at once.
However, The Block Sky High in the 7 pm slow is still attracting the most ratings with 1.087 million recorded last night – the third most watched show behind Nine and Seven news.
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House Rules hammers The Block Sky High Unlocked for a second time

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A pair of semis on the foreshore of Watsons Bay have sold for $4.25 million.
Located on Marine Parade, the residences were sold as one title, with each featuring two bedrooms and a bathroom.
The properties feature timber floors, high ceilings, north facing landscaped gardens, a deck and plunge pool.
The 491-square-metre property was granted planning approval in 2011 for one residence.
Watsons Bay is located 11 kilometres form the Sydney CBD in the municipality of Woollahra.
The property was sold through Hamish Robertson and Ben Collier of <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-watsons-bay-nsw-2030/163936">McGrath Real Estate.</a>
The semis had been offered at auction late last year by the thoroughbred-horse breeder Jocelyn May.
The Marine Parade semis were initially listed in August 2012 with $6 million price hopes but reduced to more than $4.5 million for the auction marketing campaign.
They had been owned by the May family for more than 50 years.
Elsewhere along the beachfront boardwalk near the Doyles restaurant, the May family sold another pair for $6 million to developer Graham Werry in 2007. 
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Two semis sell in Watsons Bay for $4.25 million

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If you’ve ever imagined yourself in shining armour, you can now secure your very own castle in Research, Victoria, listed with a price guide in excess of $1.6 million.
But as it was listed last year, it appears there's not too many knights around these days.  
The ten-bedroom, eight-bathroom Crest Castle is located on Crest Road and features turrets, bluestones, a lagoon, rough sawn timbers and a treetop footbridge.
The 4,392-square-metre lot also hosts a self-contained unit.
Crest Castle was built in the 1970s by an English bricklayer and in the 1980s underwent a major overhaul to turn the family home into an aged care facility.
In the late 80s, the requirement for age care facilities changed and Crest Castle was shut down, lying dormant for ten years.
The current owners have lived in the castle for over 12 years, after overhauling the property.
The property holds a permit for 30 guests, allowing it to act as a bed-and-breakfast business, charging $195 to $220 per night.
Selling agent Tristan Messerle of <a target="_blank" href="https://www.morrisonkleeman.com.au/index.cfm?pagecall=property&amp;propertyID=2323336&amp;realestate=24_Crest_Road_RESEARCH_VIC_3095">Morrison Kleeman Estate Agents Eltham</a> says the current owners operate the bed-and-breakfast out of their home as a hobby.
Messerle says there has been interest in turning Crest Castle into a reception, however the small block does not offer much parking. 
The median house price in Research is $612,500, according to <a href="/news">RP Data.</a>
<img src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57" alt="trophyhomesstrapone">
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Castle in Research Victoria listed for $1.6 million-plus

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Property Observer takes a look around the nation for what $300,000 or less bought you last month in a few capital cities.
A two-bedroom, one-bathroom unit in Sydney’s <a target="_blank" href="/news">Liverpool</a> sold for $230,000.
The 89-square-metre unit was advertised for $239,000 and last sold in 2006 for $170,000.
It features an entertainers balcony, floating timber floors and a single lock up garage.
It offers a rental yield of approximately 7.23% annually if rented out for the maximum asking price of $320 a week.
The property was sold through <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/charles-street-liverpool/Property-Details-sold-residential-5280535">Real Equity First National</a>.
A one-bedroom studio on Spencer Street in the <a target="_blank" href="/news">Melbourne CBD</a> sold for $225,000.
The partially furnished studio is located on the seventh floor and comes with a dishwasher, microwave, washing machine and dryer. 
The apartment complex features a gymnasium and pool.
The studio offers a rental yield of around 8%, with the potential to be let out for $320 to $350 per week.
The property was sold through Travis Corbett of <a target="_blank" href="https://www.chambersre.com.au/selling/VIC/Inner-City/Melbourne/Apartment/1P1739">Chambers Real Estate Fitzroy North</a>.
Over the nation to Perth, a one-bedroom, one-bathroom unit in <a target="_blank" href="/news">Highgate</a> sold for $297,500.
The furnished 73-square-metre unit includes a private courtyard and is within walking distance to the CBD. 
It last sold in March 2012 for $269,000 and has a rental yield of 6.12%.
It was sold through Tim Tyler of <a target="_blank" href="https://www.realestate.com.au/property-unit-wa-highgate-113786415">Tyler and Sons Perth.</a>
A one-bedroom, one-bathroom unit on Cavenagh Street in Darwin sold for $225,000.
The unit is furnished and was sold through Ron Shaw of <a target="_blank" href="https://www.realestate.com.au/property-unit-nt-darwin-111679775">Alliance Realty Larrakeyah</a>.
The unit last sold in June 2007 for $129,000 and has a rental yield of approximately 7.28%.
Down south to Tasmania where a two-bedroom unit on Cuthbertson Place in <a target="_blank" href="/news">Lenah Valley</a> sold on May 23 for $245,000 - originally advertised for $290,000.
The villa comes with a large backyard and a rear parcel of flat land that has unit potential, subject to approval.
The property has the potential of a rental yield of 5.31% with an asking rent of $250 per week.
The property was sold through <a target="_blank" href="https://www.prdnationwide.com.au/PropertySearch//pid/13577/default.aspx?pagesize=10&amp;sort=dated&amp;listtype=default&amp;page=1&amp;msp=1&amp;ssid=48969">PRD Nationwide Hobart</a>.
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What $300k or less bought you around the nation last month: Units

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A quaint weatherboard home, Appletree Cottage in the Southern Highlands village of Burrawang, is listed for sale at $710,000.
The newly renovated investment property of magazine publisher Michael Lynch and Patsy Peacock is a 90-minute drive from the Sydney CBD.
The two-bedroom home features high ceilings, open fireplaces and timber floorboards.
The home features a renovated kitchen with original wood oven and a lounge/library surrounded by bookshelves.
The property also features a covered deck with built in day beds, landscaped gardens and a veggie and herb garden.
The home was bought in November 2010 for $482,500.
<a href="https://www.randw.com.au/685600/" target="_blank">Michael Maloney of Richardson &amp; Wrench Bowral is listed as the selling agent.</a>
<a href="/news">Burrawang</a> is 103 kilometres southwest of Sydney.
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Quaint Appletree Cottage in Burrawang listed

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The number of auctions being held across the nation continues to climb, with 1,719 auctions scheduled for the coming week, according to RP Data.
The figure is slightly higher than the revised figure of 1,645 auctions last week and the revised figure of 1,520 auctions the previous week.
Last week, the clearance rate rose to a revised 68.1%, up from 67.3% the week prior.
At the same time last year the clearance rate was much lower at 50.5% and only 1,418 auctions were recorded.
Melbourne has 804 auctions scheduled for the coming week, slightly more than the revised figure of 795 last week and 738 auctions the week prior.
However, Melbourne’s clearance rate eased from 71.9% to 69.6% last week but is much higher than the same time last year, when it was 55.2%.
Meanwhile, Sydney’s clearance rate increased from the revised figure of 72.1% the previous week to 73.2% last week.
Sydney has 576 auctions scheduled for this week, slightly less than the revised figure of 588 auctions last week but still more than the previous week of 516 auctions.
At the same time last year, Sydney had a clearance rate of 51.3%.
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Scheduled auctions continue to climb despite winter's arrival: RP Data

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Amid The Biggest Loser Steve "The Commando" Willis and Michelle Bridges affair, it has come to light that Steve Willis and his partner, Froso had only recently bought their dream Sydney home.
The home is located in the St George municipality costing $1,325,000 last August.
Situated on 550 square metres, the three bedroom, three bathroom Sandringham home (pictured below) had previously sold in 2002 for $680,000.
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But in the interim had been transformed by architect William Smart of Smart Design Studio.
Steve Willis’ partner Froso claimed she first learned of the affair between The Biggest Loser personal trainers in March when Willis failed to come home after The Biggest Loser wrap party.
“They had planned a holiday and they had just purchased their dream family home," a family friend told Woman’s Day.
The home boasts antique front doors imported from Mexico and the kitchen features Calcutta marble bench tops.
Bi-fold doors open up to a private yard with a swimming pool and a custom designed summer house.
The median house price in <a href="/news">Sandringham</a> is $1,105,500, according to RP Data.
The home was purchased through Liam Tsaprazis of McGrath Edgecliff.
The family previously owned a villa unit on Francis Ave in Brighton-Le-Sands before selling it in September 2011 for $565,000. They had sought $500,000 plus.
The 172-square-metre two bedroom renovated unit (pictured below) with courtyard sold to Jeffrey Fenech through Liam Tsaprazis and Greg Tsaprazis of <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/townhouse-brighton-le-sands-nsw-2216/135299" target="_blank">McGrath Real Estate.</a>
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The median unit price in <a href="/news">Brighton-Le-Sands</a> is $475,000, according to RP Data.
Willis has operated a gym at the <a href="/news">Kogarah</a> premises.
Bridges confirmed on 2DayFM last week that Willis and herself were dating, after months of speculation.
Bridges, who is now living in <a href="https://www.propertyobserver.com.au/residential/the-biggest-loser-s-michelle-bridges-wins-big-as-potts-point-prestige-prices-shed-kilograms/2013050260969" target="_blank">Potts Point</a>, split from her husband of nine years in March.
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Steve "The Commando" Willis family dream home in Sandringham, Sydney cost $1,325,000

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A $4.9 million modern mansion boasting views of the Sydney Harbour and Opera House topped the list of the most expensive sales last week, according to RP Data.
Located on Wallangra Road <a target="_blank" href="/news">Dover Heights</a>, the five-bedroom, four-bathroom home sold under the hammer on May 25 through <a target="_blank" href="https://www.sothebysrealty.com/eng/sales/detail/180-l-2507-4000041171/58-wallangra-road-dover-heights-nsw-2030-sydney-sw-2030">Sydney Sotherby’s International Realty</a> inconjunction with Steven Zoellner and D’Leanne Lewis at Laing+Simmons Double Bay
Situated on 626 square metres, the home is architecturally designed based on Feng Shui principles to enhance positive energy.
There's a CaesarStone kitchen, home theatre and a teenage retreat or nanny’s quarters with a wet bar.
The home boasts a rooftop terrace with 360-degree views, an outdoor pool and barbeque terrace as well as bi-fold glass doors and high ceilings.
The property last sold in March 2005 for $4.6 million.
New South Wales is back to dominating the list, securing nine spots.
The ten most expensive sales last week:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/58_wallangra_road_dover_heights_nsw_2030/2121714">58 Wallangra Road, Dover Heights, NSW, 2030</a>, five-bedroom house, sold at auction on May 25 by Sydney Sotheby's International Realty for $4.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/87_chalmers_road_strathfield_nsw_2135/6481643">87 Chalmers Road, Strathfield, NSW, 2135</a>, six-bedroom house, sold at auction on May 25 by Georges Ellis &amp; Company for $2.942 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/98_darling_street_balmain_east_nsw_2041/1261601">98 Darling Street, Balmain East, NSW, 2041</a>, five-bedroom house, sold at auction on May 25 by Cobden &amp; Hayson for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/146_hotham_street_east_melbourne_vic_3002/10875178">146 Hotham Street, East Melbourne, VIC, 3002</a>, four-bedroom house, sold at auction on May 25 by Abercromby's Real Estate for $2.7 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/27_fourth_avenue_willoughby_east_nsw_2068/7599293">27 Fourth Avenue, Willoughby East, NSW, 2068</a>, four-bedroom house, sold at auction on May 25 by McGrath Northbridge for $2.62 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_mcgowan_street_putney_nsw_2112/5633989">12 Mcgowan Street, Putney, NSW, 2112</a>, three-bedroom house, sold at auction on May 25 by Ray White Gladesville for $2.535 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_courallie_road_northbridge_nsw_2063/5068600">28 Courallie Road, Northbridge, NSW, 2063</a>, four-bedroom house, sold at auction on May 25 by McGrath Neutral Bay for $2.52 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/57_finlayson_street_lane_cove_nsw_2066/3590110">57 Finlayson Street, Lane Cove, NSW, 2066</a>, five-bedroom house, sold after auction on May 23 by Belle Property Lane Cove for $2.365 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_chester_street_woollahra_nsw_2025/7734447">7 Chester Street, Woollahra, NSW, 2025</a>, four-bedroom house, sold at auction on May 21 by Di Jones Real Estate for $2.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/9_rowland_avenue_bondi_nsw_2026/1519170">9 Rowland Avenue, Bondi, NSW, 2026</a>, four-bedroom house, sold at auction on May 21 by Di Jones Real Estate for $2.15 million
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Feng Shui Dover Heights mansion trophy home sale: RP Data

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.

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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.

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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."

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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."

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Why now is the time to buy in Melbourne's premium apartment market

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

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

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

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

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

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