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A circa 1862 Georgian style home built for prominent landscape artist Eugene von Guerard is on the market for the first time in more than 70 years.
Located on Gipps Street in East Melbourne, the 180-square-metre Little Parndon was constructed by Ravenscroft and Oldfield.
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After emigrating to Australia from Austria, von Guerard was one of Australia’s most renowned landscape artists and was influential to the Australian romantic landscape painting.
The plain face red brickwork Little Parndon features three bedrooms, two bathrooms and a self-contained studio apartment.
The property also boasts a private courtyard and a tower retreat.
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Von Guerard occupied the residence until 1882, when he then moved back to Europe.
Robert Sparrow Smyth, an entrepreneur and manager of musicians was the next owner, followed by John H. Daley.
The property was then home to Australia’s 16th Governor General Lord Casey and Lady Casey from 1939 to the early 1980s.
After Lady Casey’s death in 1983, Little Parndon was left to her estate.
Little Parndon is scheduled for a June 15 auction through Nathan Waterson and Iain Carmichael of <a href="https://www.jelliscraigbm.com.au/property/EAST-MELBOURNE-159-Gipps-Street/5527689/#.UZ7TpuBAt6o" target="_blank">Jellis Craig Bennison Mackinnion Armadale</a>.
The price guide is around $1.4 million.
The median house price in <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="/news" target="_blank">East Melbourne</a> is $1,950,000, according to RP Data.
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Landscape artist Eugene von Guerard's 1860s East Melbourne terrace home on market

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An architecturally designed three-level home in Balgowlah Heights is on the market for the first time, with a price guide of $2.5 million-plus.
Located on Abbott Street, its vendor and architect Vince Squillace originally lived in a bungalow on the 420-square-metre lot for five years to understand the site and how to minimise his carbon footprint.
“Over this period we became familiar with the site, the views, the sunlight, the prevailing winds and the potential of the site,” Squillace told Property Observer.
The family home features five bedrooms, three bathrooms and offers 270-degree panorama views of the ocean, harbour and city skyline through retractable glass walls.
The home also features Giallo Venus marble flooring throughout and a Frank Lloyd Wright inspired timber acoustic ceiling in the living room.
The standout feature is the sunlit rooftop deck with a marble wet bar and kitchenette.
Squillace says the deck offers views of the New Years Eve fireworks in Sydney Harbour, Rose Bay and Manly.
The property also includes a heated outdoor pool with a waterfall and a Japanese inspired front garden.
The property will go under the hammer on June 15 through Kingsley Looker of <a href="https://www.cunninghamsproperty.com.au/buying/NSW/Northern-Beaches/Balgowlah-Heights/House/1P5132" target="_blank">Cunninghams Property Balgowlah</a>.
The median house price in <a href="/news">Balgowlah Heights</a> is $1,715,000, according to RP Data.
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Architect Vince Squillace-designed Balgowlah Heights trophy home listing

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You don’t have to be a golfing enthusiast to move to QM Properties golf course development The Fairways.
Located 50 minutes west of Brisbane, the <a href="https://www.qm.com.au/residential-projects/fairways" target="_blank">Hatton Vale development</a> is releasing its latest stage of 24 lots ranging from 400 square metres to 9,811 square metres.
Facilities in the estate include a primary school and two nearby childcare centres.
<img height="311" width="470" src="/images/stories/2013/05/fairwaysmay27one.jpg" alt="fairwaysmay27one">
Prices for allotments range from $99,950 to $149,500.
The Fairways first launched in June 2004 and 357 lots out of the total 545 lots have sold.
<img height="309" width="470" src="/images/stories/2013/05/fairwaysmay27two.jpg" alt="fairwaysmay27two">
QM Properties sales manager Damien Ross believes The Fairways development to be the most affordable golf course land in Australia.
Ross says the estate traditionally attracted golfing enthusiasts but is now attracting more families looking for bigger blocks and country view outlooks.
“Many of our buyers don’t even play golf, but are attracted to the large blocks and country style outlook.
“We have a large percentage of buyers who are moving there from other smaller lot residential subdivisions,” says Ross.
Ross says there is a strong sense of community in a golf development that you don’t really get in high-density living.
<img height="313" width="470" src="/images/stories/2013/05/fairwaysmay27three.jpg" alt="fairwaysmay27three">
Residents include RAAF reservist and former F-111 aircraft engineer Darrly Prestidge and his family.
Prestidge built a six-bedroom, three-bathroom home.
“We got fed up with the noise and really wanted to have somewhere quieter that gave us room to build a big house for the family,” says Prestidge.
The newest stage is set to be completed in June 2013 and 17 allotments in stage R have already sold.</body></html>

You don't have to be a golfing enthusiast to live at Hatton Vale's The Fairways

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Kookaburra, a 2.02-hectare estate in the northern Sydney suburb of Bayview, has been listed for sale with a price guide of $8 million-plus.
The six-bedroom, six-bathroom property was built around 40 years ago with views over Ku-Ring-Gai Chase National Park.
Kookaburra features a tennis court, pool and a koi-filled pond.
There is also a poolside cabana with a sauna, treatment rooms and an office space, which could be turned into additional accommodation.
The office space and treatment rooms were used in the vendors business Holistic Hideaways, a natural approach to health.
The 580-square-metre home was extensively renovated recently to include a new kitchen, new flooring, new appliances and repainting.
It has been listed with Nicholette Van Wijingaarden of <a href="https://www.uniqueestates.com.au/Homes/Detail.aspx?id=ue315&amp;wlid=024adba9-3633-4a0b-b365-cae8bf33e085" target="_blank">Unique Estates.</a>
The RP Data median house price in <a target="_blank" href="/news">Bayview</a> is $1,102,500.
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Kookaburra estate Bayview: $8 million-plus

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A 31st floor sky residence at Mirvac’s $200 million Yarra Point development has come alive with zebra print and animal legs.
The display apartment has been styled by Rohan Smith interior designer for Coco Republic with furnishings from Oly San Francisco – a brand exclusive to Coco republic.
<img alt="yarrapointmay28one" height="518" width="400" src="/images/stories/2013/05/yarrapointmay28one.jpg">
The furnishings (pictured above and below) include ottomans with animal legs and zebra striped chairs, with emphasis on the use of conflicting materials and finishes.
<img alt="yarrapointmay28two" height="583" width="400" src="/images/stories/2013/05/yarrapointmay28two.jpg">
"The Oly pieces create a timeless contemporary style that is unexpected, adding a sense of play to a luxurious property," Smith says.
"I have used colours that are not often seen in display apartments.
"The navy in the master bedroom would normally be considered masculine however themed with a feminine mirrored bed it creates an interesting, unexpected miss."
Yarra Point features 201 one-, two-, three- and four-bedroom apartments with prices ranging from $520,500 to $2.42 million.
Apartments range in size from 55 square metres to 214 square metres.
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Mirvac's Yarra Point comes alive with Oly San Francisco

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In this week’s Purchase or Pass, Chris Gray is joined by Arthur Charlaftis of realestate.com.au to analyse a potential investment in a block of units that has previously been turned down.
It’s a two-bedroom unit with a security car space in a block of 18 units, 7.3 kilometres from the Sydney CBD and under a kilometre to the local action. There have been some major damp problems with the balconies leaking into the garage and they’ve already raised $380,000 to solve the problem. As part of this repair the neighbouring owners to this unit are looking to extend their balconies over the garage roof, which will really increase the appeal of the property with plenty of outdoor living.
{qtube vid:=VMo1EKSRjso&amp;feature=youtu.be}
Chris Gray: What are your initial thoughts there?
Arthur Charlaftis: Well I was actually going to throw it back to you Chris, because this is one you passed on I believe, so tell me a bit about why you passed?
Chris Gray: With the other unit we were looking at, it was more to the rear of the block and the strata fees here were pretty expensive, around $1,100 rather than $600 or $700. It also had an outdoor pool, but they had all these strata problems we’re talking about with the roof that were unresolved. As you can see, they’re raising $380,000, that’s quite a worry to get in if they haven’t solved those problems. So there was just nothing that appealing about it. There are a lot of negatives.
Arthur Charlaftis: So, what’s changed? Have you changed your view on it?
Chris Gray: The massive change was the money being raised, so they’ve actually found out what the problem is with the leaking garage. They have to change the whole of the garage roof, so that’s a major thing, but they’ve raised the cash. But there’s this opportunity to really increase the balcony, they’re going to extend that the whole way out, and get a lot more outdoor living space, which really changes when you’re living in a unit. And it’s getting 5.5% to 6% rent. So it looks pretty good now.
Arthur Charlaftis: What do you think about maintenance in terms of moving forward? Do you think that some of that’s been resolved?
Chris Gray: Yeah, so they’ve had concrete cancer in the past, but that’s all been sorted out. They’ve spent $380,000 on the building, so that’s going to sort a lot of stuff out. So suddenly, it’s almost like being in a brand new building, there’s nothing to sort out. That just shows how suddenly a no can turn into a yes. I guess one of the things I was going to ask you was; this is a property we got as a silent sale. So what that means is we get in before it goes on the market, so unfortunately you don’t get any revenue on your site, but obviously the pictures that we took are pretty amateur. I thought it’s probably like what agents would do 20 years ago. If those pictures appeared on your site, what sort of coverage is it going to get?
Arthur Charlaftis: Yeah you’re right, the photos are pretty amateurish and one of the things we know is 65% of our page views on our site really relate to the photos. So the photos are really critical and as we’ve talked about, nine out of 10 people go online to look at property and basically the first inspection occurs online. So even if that was on [the photos] there is a chance that the photos might not have got too much interest.
Chris Gray: Exactly, because you’re not going to get the emotion going. What we always say to our clients, it’s like, if you want it to look beautiful and pretty on the internet it’s a lot easier for you to see it but you’re probably going to pay a higher price. Whereas, if you have really bad photos that we’ve done on our iPhones, at least no one else knows about it so bad pictures, cheaper price. Most of the clients would rather have bad quality pictures and have a cheaper price. So purchase or pass for you on this one?
Arthur Charlaftis: With some of those changes I think it’s moving towards a purchase
Chris Gray: While we did turn down a unit in this block before, this particular unit offered a great opportunity with an already existing great rent. It will have a great outdoor area with views in the background, so we were over the moon to purchase it, especially as a silent sale before it came on the market, so I’m going to purchase on this one.
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Purchase or Pass? A unit previously passed on in Tamarama with Arthur Charlaftis

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The most expensive sale for the week ending May 19 was an original coastal cottage in Bronte, New South Wales, which sold at auction on May 15 for $4.05 million, according to RP Data.
Located on Bronte Road, the property (pictured below) was listed by Jason Black and Brent Foster of <a target="_blank" href="https://www.propertyobserver.com.au/https://www.blacklp.com.au/3373786">Black Lifestyle Property Randwick.</a>
<img height="244" width="470" src="/images/stories/2013/05/brontemay22one.jpg" alt="brontemay22one">
The three-bedroom, one-bathroom house sits on approximately 530 square metres and offers the possibility to be renovated or rebuilt.
The property last sold in April 1990 for $615,000, reflecting an annual compound growth rate of 8.54%.
New South Wales dominated the list, with a total of seven properties securing spots.
The top 10 most expensive sales last week
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/449_bronte_road_bronte_nsw_2024/1609659">449 Bronte Road, Bronte, NSW, 2024</a>, three-bedroom house, sold on May 15 by Black Lifestyle Property Randwick for $4.05 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_bridge_street_balmain_nsw_2041/1251783">1 Bridge Street, Balmain, NSW, 2041</a>, four-bedroom house, sold at auction on May 18 by Cobden &amp; Hayson for $2.735 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/112_milson_road_cremorne_point_nsw_2090/2004689">3/112 Milson Road, Cremorne Point, NSW, 2090</a>, three-bedroom unit, sold on May 16 by Ray White Lower North Shore for $2.65 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_vernon_street_strathfield_nsw_2135/6496416">28 Vernon Street, Strathfield, NSW, 2135</a>, six-bedroom house, sold at auction on May 18 by Richardson &amp; Wrench Strathfield for $2.65 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_welwyn_avenue_brighton_east_vic_3187/10041305">3 Welwyn Avenue, Brighton East, VIC, 3187</a>, four-bedroom house, sold at auction on May 18 by Marshall White for $2.575 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/84_birriga_road_bellevue_hill_nsw_2023/1368216">84 Birriga Road, Bellview Hills, NSW, 2023</a>, four-bedroom house, sold at auction on May 18 by Liang + Simmons Double Bay for $2.425 million
<a target="_blank" href="https://www.myrp.com.au/property/277_coopers_shoot_road_coopers_shoot_nsw_2479/1954587/">277 Coopers Shoot Road, Coopers Shoot, NSW, 2479</a>, three-bedroom house, sold at auction on May 18 by McGrath Estate Agents for $2.4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37_stanley_street_nedlands_wa_6009/12887777">37 Stanley Street, Nedlands, WA, 6009</a>, five-bedroom house, sold prior to auction on May 18 by Acton Dalkeith for $2.37 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_howard_street_strathfield_nsw_2135/6486636">3 Howard Street, Strathfield, NSW, 2135</a>, six-bedroom house, sold at auction on May 18 by Devine Real Estate for $2.335 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_beaver_street_malvern_east_vic_3145/11585506">20 Beaver Street, Malvern East, VIC, 3145</a>, four-bedroom house, sold at auction on May 18 by Hocking Stuart Glen Iris for $2.26 million
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Original coastal home in Bronte records 8.5% annual growth over 23 years: RP Data

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Autumn is set for one last hurrah with auction listings climbing back up this week, with 1,541 auctions scheduled in capital cities across the nation. Most will be held tomorrow.
The figure is slightly higher than the revised figure of 1,458 auctions last week but still lower than the previous week of 1,582 auctions.
Last week, the clearance rate rose to 69.2% - the highest rate recorded this year - up from 65.6% the week prior.
At the same time last year the clearance rate was much lower at 53.5% and only 1,300 auctions were recorded.
Melbourne has 760 auctions scheduled for the coming week, slightly more than the revised figure of 702 last week but less than the 807 auctions the previous week.
However, Melbourne’s clearance rate increased to 72.7% last week from the revised 71.3% recorded the previous week.
Meanwhile, Sydney’s clearance rate increased from the revised 67.7% the previous week to an exceptionally strong 75.3% last week.
Both Melbourne and Sydney clearance rates are outperforming when compared to the same time last year.
Melbourne recorded a 60.6% clearance rate this time last year and Sydney recorded 53.3%.
Sydney has 533 auctions scheduled for the coming week, slightly more than the revised figure of 501 auctions last week and 516 the previous week.
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Autumn's last hurrah as auctions increase: RP Data

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The first architectural impressions of Crown Group’s new development in North Sydney Skye by Crown have been released.
The 20-storey residential complex is designed by Japanese Australian architect <a target="_blank" href="https://www.propertyobserver.com.au/developments/influential-architect-koichi-takada-transforming-sydney-apartment-scene/2013040258772">Koichi Takada</a> and features a bronze coloured metal veil exterior.
The 232 apartments will feature glass facades, balconies and winter gardens.
“Our vision for Skye by Crown is about creating a sculpture in the heart of North Sydney – it is about creating an icon for a decade to come,” says Crown Group chief executive Iwan Sunito.
<img src="/images/stories/april23tivoli/crownmay21three.jpg" width="470" height="556" alt="crownmay21three">
“Skye by Crown’s bold design and high-quality construction will raise the benchmark for residential developments in Sydney,” says Sunito.
<img src="/images/stories/april23tivoli/crownmay21four.jpg" width="470" height="453" alt="crownmay21four">
The standout feature is the 25-metre rooftop infinity edge pool, boasting panoramic views.
“The infinity pool on top of the architecture creates an illusion of floating above the city skyline,” says Takada.
“You feel like you’re on a remote island in a five star resort.
“The organic veil creates a sculptural quality as well as a soft transition from busy city life into the residential amenity,” says Takada.
<img src="/images/stories/april23tivoli/crownmay21two.jpg" width="470" height="361" alt="crownmay21two">
<img src="/images/stories/april23tivoli/crownmay21five.jpg" width="470" height="357" alt="crownmay21five">
Other facilities include a gymnasium, community room and a rooftop terrace.
“The amount of interest in Skye by Crown at this early stage before the advertising campaign launch is a testament to Crown’s reputation for delivering high-quality apartments.
“Skye by Crown’s exceptional North Sydney location, close to shops, transport and major employment hubs, is a major draw card for investors and owner-occupiers alike,” says Sunito.
<img src="/images/stories/april23tivoli/crownmay21one.jpg" width="470" height="360" alt="crownmay21one">
Apartments range in price from $499,000 to $2 million plus.
Studio apartments range in size from 36 square metres to 43 square metres.
One-bedroom apartments range in size from 50 square metres to 61 square metres.
Two-bedroom apartments range in size from 73 square metres to 88 square metres.
Three-bedroom apartments range in size from 120 square metres to 148 square metres.
There will be three penthouses on offer, boasting high level finishes and rooftop gardens.
The project is set to <a target="_blank" href="https://skyebycrown.com.au/">launch</a> in June, with construction scheduled to start in late 2013.
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Skye by Crown set to become North Sydney "icon"

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An apartment in the Spanish Mission style Del Rio apartment block in Elizabeth Bay has been listed at $4.75 million.
Located on the Billyard Avenue dress circle harbourfront, it is the first time the home has been offered in 10 years. Its an apartment block often featured in prize <a target="_blank" href="https://www.artgallery.nsw.gov.au/collection/works/287.1984/">paintings</a> given its lovely setting between the iconic Elizabeth Bay House and the harbour.
Del Rio was designed by John Spencer-Stransfield in 1928, who is more famously known for designing the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/1917-gilgunyah-bungalow-in-haberfield-secures-%2422-million-plus/2013051661190">federation suburb Haberfield</a>.
The 2009 Belle-featured apartment was purchased in October 2001 for $1.96 million and has undergone $1.5 million worth of improvements by designer Garth Barnett.
The property originally had a three-bedroom layout - with the third bedroom used as the maid’s quarter - however its been transformed into two large comfortable bedrooms.
The property features soaring ceilings, French parquetry and travertine floors and two marble-finished bathrooms.
Real estate agent Jaime Upton of Ballard Property Group says the ground floor apartment feels like a house due to its accessibility to the garden and mosaic-tiled pool.
Its vendor Charles Wilkins, a leading Sydney caterer, has expressed interest in architecturally noteworthy inner city residential buildings.
Wilkins has previously owned apartments in The Astor, Macleay Regis and Wyldefel Gardens. He has recently purchased a property in the Southern Highlands.
His Elizabeth Bay apartment is listed through Jaime Upton and Clint Ballard of <a target="_blank" href="https://www.ballardproperty.com.au/Buying/Search/residentialresult/residentialdetail.aspx?id=WOOLLAHRA%202012150&amp;wlid=f88c65eb-abf5-447a-8a43-a0b61a43af8a">Ballard Property Group.</a>
The median apartment price in <a target="_blank" href="/news">Elizabeth Bay</a> is $522,500, according to RP Data.
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Del Rio, Elizabeth Bay trophy home $4.75 million listing

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."

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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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