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There are 1,593 auctions scheduled across the nation’s capital cities this week, with Melbourne continuing to dominate with 768 scheduled auctions, according to RP Data.
Sydney has 500 auctions scheduled for the week ending May 5.
There were a revised 1,614 auctions held last week across the nation’s capital cities, an increase from a revised 1,433 the previous week.
The clearance rate is continuing to improve with 66.8% recorded for last week, an increase from the previous week of 63%.
At the same time last year, there were 1,235 auctions recorded.
Melbourne had a big week with a revised 820 auctions and an increased clearance rate of 70.6%.
The previous week Melbourne had slightly less auctions at a revised 743 and a clearance rate of 66.5%.
At the same time last year the clearance rate was much lower at 55.9% and 573 auctions recorded.
Sydney’s clearance rate also improved from 71.1% the previous week to 73.2% last week.
The clearance rate has vastly improved from the same time last year where it was 49.9%.
There were 503 auctions recorded in Sydney last week, up from the previous week of 440.
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Melbourne continues to dominate auction front with 768 forthcoming auctions: RP Data 

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The Old Court House that was once home to Sir Christopher Wren – England’s most famous architect – has been listed for sale for the first time with a price guide of £4.25 million.
Wren is known for designing St Paul’s Cathedral and the Royal Naval College, as well as the south side of Hampton Court Palace.
Queen Anne granted a 50-year lease for The Old Court House to Wren in 1708 in lieu of arrears of salary for building St Paul’s Cathedral.
<img src="/images/stories/2013/04/wrenapril30one.jpg" width="470" height="287" alt="wrenapril30one">
Wren was appointed by King Charles II as the Royal Surveyor in 1669 and held his position for 49 years until 1718.
Dating back to 1536, the property received an extensive makeover by Wren who complained of 'great decay'.
Located in Hampton Court, Wren used the dining room as a study and included the same marble fire place he installed in King William III’s dining room in Hampton Court Palace.
<img src="/images/stories/2013/04/wrenapril30two.jpg" width="470" height="289" alt="wrenapril30two">
The drawing room is situated to the rear of the house with five tall sash windows and the original shutters, boasting views of the garden and to the river.
A pantry leads off this room and features intricate detailing of a Grecian key pattern on the dado rail and door castings.
The master bedroom features views towards the Hampton Court Green and to Hampton Court Palace.
 
<hr class="system-pagebreak">
The property comprises of six bedrooms and three bathrooms – one which contains two oddly placed baths side by side, surrounded by green marble.
<img src="/images/stories/2013/04/wrenapril30three.jpg" width="470" height="290" alt="wrenapril30three">
The large outside garden extends down to the river and features an assortment of fruit trees including fig, walnut, apple, crab apple, cherries, raspberries and herbs, and a garden room, which was once Wren’s tool house.
In Wren’s day, important visitors would arrive by river and walk across the back garden and up the stone steps to the back door.
The property boasts the only English Heritage blue plaque to Wren, which is on display at the front of the property.
Wren passed away in 1723.
In 1749, Wren’s grandson, Stephen Wren, sold the remainder of the lease.
Following occupants included Admiral Sir Alexander Montgomery, the Dowager Lady Clinton and General Sir Henry Wheatley. 
Norman Lamplugh lived at the house from 1908 to 1938.
The 2nd Earl of Ypres and son of First World War field marshal Sir John French followed suit.
A new lease began in 1958 and the remaining lease of 89 years was bought by Toby Jessel.
Toby Jessel was the MP for Twickenham from 1907 to 1997 and is the current resident of The Old Court House.
In 1984, the Crown Estates sold the freeholds to lease holders of home around Hampton Court.
It is the first time The Old Court House has been a freehold and is being sold as such.
“This is an exquisite and historic home,” says listing agent Patrick Glynn-Jones of Savills Richmond UK.
“Houses of this ilk are few and far between – I can see someone getting emotionally engaged by it, with all its fabulous historical features.
"If there was a plaque that one would be impressed by it would for be for arguably the finest British architect that ever lived.
“No one looking to buy will specifically seek out the blue plaque, but it’s a little extra bauble that helps the salability,” says Glynn-Jones.
 
 
 
 
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Sir Christopher Wren's former home in Surrey seeks £4.25 million

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Australian Property Monitors has published its latest information on the average amount of discounting undertaken by vendors around the country.
Gold Coast’s average discount rate for property has increased over April to 13.3% from 10.1% in March.
It is the highest discount rate since June 2012 where it was also 13.3%.
Sydney increased slightly to an average discount of 5.4% in April from 4.9% in March.
Melbourne and Perth both increased by 0.3% however Brisbane, Adelaide and Canberra recorded a lower discount rate in April.
Canberra had the lowest discount rate at 3.9%.
<img height="644" width="470" src="/images/stories/2013/04/vendordiscountingapmapril29onethumb.gif" alt="vendordiscountingapmapril29onethumb">
Source: Australian Property Monitors
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Canberra has the nation's lowest vendor discount rate at just 3.9%: APM

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The Gold Coast has dropped from its recent high of 239 average days on the market in March to 225 days in April, in the latest Australian Property Monitors table of time on market.
Property Observer has found some recent sales that experienced a lengthy time on the market and a typically big drop on their original asking prices.
A two-bedroom, two-bathroom unit on West Burleigh Road Burleigh Heads sat on the market for 226 days before selling on March 25.
The unit sold for $314,000 although it had a listing price of $319,000.
The property (picture below) sold in March last year for $379,000 after only sitting on the market for 60 days.
<img alt="goldcoastapril30one" src="/images/stories/2013/04/goldcoastapril30one.jpg" width="470" height="297">
A unit on Gold Coast Highway in Burleigh Heads sold on March 13 for $320,000 after 162 days on the market.
The two-bedroom, one-bathroom unit (picutred below) was originally listed for $335,000 in September last year, after being purchased in May 2010 for $341,000.
Prd Nationwide Burleigh Heads closed both these sales.
<img alt="goldcoastapril30two" src="/images/stories/2013/04/goldcoastapril30two.jpg" width="470" height="297">
A three-bedroom, two-bathroom property (pictured below) on Vatakoula Parade in Mermaid Waters sold at auction on April 21 for $626,000 after 238 days on the market.
Mycheal Carter of Professionals Broadbeach Mike Carter Real Estate closed the sale.
It was originally listed for normal sale in August last year with an asking price of $750,000.
The price was revaluated in February to $695,000 however sold at auction for much lower than this.
<img alt="goldcoastapril30three" src="/images/stories/2013/04/goldcoastapril30three.jpg" width="470" height="298">
Canberra currently has the shortest average time on market at 70 days.
<img alt="daysonmarketapmapril29onethumb" src="/images/stories/2013/04/daysonmarketapmapril29onethumb.gif" width="470" height="642">
Source: Australian Property Monitors
Gold Coast’s average discount rate for property has increased over April to 13.3% from 10.1% in March.
It is the highest discount rate since June 2012 where it was also 13.3%.
Sydney increased slightly to an average discount of 5.4% in April from 4.9% in March.
Melbourne and Perth both increased by 0.3% however Brisbane, Adelaide and Canberra recorded a lower discount rate in April.
Canberra had the lowest discount rate at 3.9%.
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Gold Coast time on market drops slightly to 225 days: APM

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Architect Andrew Piotrowski and his interior designer wife Marika Brand have put their five-bedroom Beaumaris home on the market with price expectations of above $4 million.
Located on Tramway Parade, the 900-square-metre property boasts 180 degree bay views through four-metre high atrium windows and features rooftop terraces.
The property features a self-contained apartment, home theatre and games room, an indoor pool, a wine cellar and a lift.
The self-contained apartment includes a bedroom and ensuites with a bluestone-surrounded wood fire and its own garden and entrance.
Real estate agent Marshall White says the bayside home is one of the most expensive properties to be offered in the suburb.
The property at 1 Point Avenue holds the crown for the suburb's most expensive, having sold in 2009 for $4,010,000.
It features four bedrooms and four bathrooms and is situated on a 746-square-metre block.
<a href="https://7tramwayparadebeaumaris.com/gallery" target="_blank">The current Tramway Parade home is listed</a> by Rae Tomlinson and Rob Strickland of Marshall white with EOI closing May 7.
The high-end Beaumaris auction scene has been quiet in recent years but back in 2009 there was also 20-22 Balcombe Park Lane that sold for $1,880,000 and 74 Tramway Parade at $1.72 million in 2008.
In 2006 a large modern house at 9 Point Avenue with a reserve of $2.275 million, was passed in at $2.1 million.
In 2005 the cliff-top home at 1 Point Avenue was passed in on a vendor bid of $2.7 million, with a reserve of $2.99 million.
The median house price in Beaumaris according to RP Data is $970,000.
Beaumaris currently has a clearance rate of 50% for 2013, with only 13 properties selling out of a total of 26 auctions, according to <a href="https://www.reiv.com.au/Property-Research/Auction-Map/Clearance-rates" target="_blank">Real Estate Insitute of Victoria.</a>
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Beaumaris home one of most expensive offered in the suburb at $4 million

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As potential homebuyers are swamped for choice, property developers and builders are looking for new ways to encourage buyers through a range of incentives.
Incentives include furniture packages, rental guarantee, stamp duty savings, a marina berth and even a free boat ride.
The newest offering commenced on April 1 and includes a <a target="_blank" href="https://www.studioninerichmond.com.au/StudioNine_HermonandHermon_Terms_Conditions.pdf">complimentary $40,000 Hermon &amp; Hermon furniture package with the purchase of a Studio Nine penthouse apartment</a> in Melbourne’s Richmond.
Buyers will receive a gift voucher, which will then be redeemable at Hermon &amp; Hermon store that entitles them to $40,000 worth of Hermon &amp; Hermon furniture and a free personalised styling consultation. The offer expires May 31 and the voucher must be redeemed within 12 months of settlement.
Here’s a look at other incentives currently being offered:
Bonus Marina Berth at Mirvac’s Yarra Point
 
For contracts signed between April 1 to April 30, Mirvac is offering buyers in the <a target="_blank" href="https://www.yarrapoint.com/mirvac">Yarra Point development in City River Park Docklands a bonus Marina Berth</a> if the purchased apartment is over $1 million. There are only 12 berths available at Marina YE and are on a leasehold expiring December 1 2030. Million dollar residences include three bedrooms, two bathrooms and three car spaces.
5% rental guarantee
 
The 5% rental guarantee is not a new offer on the table but still remains popular with property developers. CBRE is offering buyers of its You and I development in Collingwood a 5% rental guarantee or up to $14,000 first home owner grant boost. You and I offers one-bedroom apartments starting from $359,000 and two-bedroom apartments starting from $512,000.
CBRE is also offering a 5% rental guarantee in April on its Lucia development in South Yarra. The incentive is only valid for contracts settled in April. Lucia offers two-bedroom apartments from $460,000 and a residents gym, swimming pool and a rooftop resident’s lounge.
Stamp duty savings
<a target="_blank" href="https://www.cbreresidentialprojects.com.au/NewProjects/Emporia/491.aspx?PRegion=57">CBRE is offering stamp duty savings of up to $45,000 in their Empora development in Prahran</a> if purchases are made before construction commences. Located on Commercial Road, one-bedroom apartments start from $370,000 and two-bedroom apartments start from $530,000. However buyers better get in quick, as demolition is now completed to pave the way for construction.
Meanwhile, Spec Property developers are offering to pay the stamp duty for apartments purchased off the plan in their Madison development in Doncaster. One-bedroom apartments start from $419,000, two-bedroom apartments start from $549,000 and three-bedroom apartments start from $745,000.
Hampton’s free boat ride 
 
It may not be a luxury furniture package of a marina moor but<a target="_blank" href="https://www.havenontheriver.com.au/cms-news/index.phps"> property developer Hampton offered a free boat ride</a> on the weekend for potential buyers to “experience the riverfront lifestyle for yourself”. The free boat rides were offered for three hours for those looking at purchasing in Abbotsford Haven neighbourhood. Haven offers a range of apartments and terrace homes priced from $950,000.
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Melbourne apartment buyer enticements include rental guarantees, marina berths and even a boat ride, as market ripe with new offerings

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Unrenovated properties are proving to be the star performers at recent Sydney auctions with buyers purchasing for location rather than investment, according to Cooley Auctions.
The trend comes as an <a href="https://www.realestate.com.au/property-house-nsw-vaucluse-113349631" target="_blank">original fisherman’s cottage</a> on Davies Avenue in Vaucluse sold at auction for $1.21 million after a bidding dual between 15 bidders.
It was the first time the three-bedroom property was offered in 54 years and it sold for 34% - $310,000 – over its reserve price.
Martin Maskin of Raine &amp; Horne Double Bay listed the cottage.
A free standing <a href="https://www.hartestateagents.com.au/762959/" target="_blank">federation cottage</a> on Campbell Street in Waverley sold at auction for 28% over its reserve, securing a $1.41 million price tag.
The three-bedroom property includes period features of high patterned ceilings, timber floors and a period fireplace.
It was the first time the property was offered in 40 years and was listed through Alex Hart of Hart Estate Agents.
Meanwhile in Surry Hills, a <a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Surry-Hills/?adid=2010321857&amp;topspot=1" target="_blank">circa 1865 terrace</a> sold at auction for $1,355,000.
The war between seven bidders saw the property tip 28% over its reserve of $295,000.
Charles Touma of Belle Property Surry Hills listed the property.
Damien Cooley of Cooley Auctions says these un-renovated properties are not being bought for investment purposes but more for their locality and the long term.
The trend is expected to continue for a <a href="https://www.realestate.com.au/property-house-nsw-erskineville-113445419" target="_blank">three-bedroom home on John Street in Erskinville</a> as it goes under the hammer on April 27 with a price guide of $600,000.
The 180-square-metre property offers a 6.05-metre frontage and a large rear yard.
It last sold in 1989 for $165,000 and is currently listed by Braden Walters of True Property.
Walters has given out 62 contracts to date for the Saturday auction and had over 190 groups through in the four weeks its been on the market.
"The opportunity value is what makes it so attractive to buyers, the fact that people can just completely redo something withought having to keep anything," says Walters.
Walters says the Erskinville property has been empty for eight years and has tree roots pushing the floorboards up.
"The sale will absolutely smash the reserve," says Walters.
Walters says a minimum of $100,000 will need to be spent on doing a basic renovation.
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Unrenovated properties a popular trend in Sydney Autumn auctions

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Australia’s ACproperty.com.au will be presenting opportunities in the Australian property market at the upcoming annual Shanghai Overseas Property and Investment Immigration Show.
Now in its eighth year, the major annual expo held in China promotes overseas properties and investments and attracts 10,000 visitors.
The expo will be held between April 29 and May 2 at the Shanghai Exhibition Center in the Jing’an District.
ACproperty.com.au’s primary role at the expo will be to pass on information about the Australian property market such as buying processes.
Property Observer’s ebook <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">Au</a><a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">stralia’s allure for Asian residential property investment</a> will be distributed during the show.
ACproperty.com.au will also focus on maintaining confidence in the Australia property market, having made a commitment to the visitors that all the properties listed on their portal are Australia registered agents and developers.
“Although buying overseas property is a huge trend and very common now in China, Chinese investors are still very careful when it comes to actually buying it,” says director of ACproperty.com.au, Esther Yong.
“Chinese investors are still very careful when it comes to actually buying it.
“Our customer service line receives calls so often from these investors checking the credentials of our agents and developer.”
Yong says most Chinese investors prefer to buy products that are of low to moderate risk.
“The key reason for them to invest in overseas properties is to diversify risks rather than expecting a higher investment return,” says Yong.
Models of AXF’s <a href="https://www.propertyobserver.com.au/developments/imperial-doncaster-offers-ipad-and-sound-technology-for-apartment-owners/2013040160029" target="_blank">Imperial Doncaster</a> - which is endorsed by ACproperty.com.au – will be present in ACproperty.com.au’s booth.
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ACproperty.com.au representing the Australian market in China

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The Melbourne housing market is predicted to record a modest high price recovery of between 2-5% in 2013, according to SQM Research’s Melbourne’s Housing Boom and Bust report.
Managing director of SQM and property analyst Louis Christopher offers his assessment in the report and sticks to his forecasts outlined in the September 2012 issue of the same report.
“The best returns out of Melbourne for this year will likely come from houses in the inner city excluding Docklands and Southbank,” says Christopher.
Christopher says vendors have become more confident since the start of the year in areas such as Albert Park, Carlton, Port Melbourne and Toorak.
Christopher predicts vendor confidence will extend to other parts of inner and middle Melbourne
The report warns against the market in Docklands and Southbank due to the elevated vacancies in those areas and the fact that more developments are in the pipeline.
“However we hasten to add there is still a lot of stock on the market, particularly in some outer ring areas that we cautioned on last year,” says Christopher.
The supply of stock coupled with Victoria’s rising unemployment rate of 6.1% is also inhibiting price growth.
Christopher suggests resurgence in the service sectors may provide a much-needed stimulus to Victoria’s economy.
The median house price for Melbourne is currently $561,500, a 5.1% increase from the December quarter of $534,000.
The SQM Research Melbourne’s Housing Boom and Bust report will be available via the <a target="_blank" href="https://www.sqmresearch.com.au/">SQM Research website</a> for $59.95.
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SQM forecasts Melbourne house price recovery between 2% to 5%

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As tenants keenly line up, the $575 million Colonial First State development Emporium Melbourne nears its scheduled December completion date.
It will be the first Melbourne site for Japanese retailer Uniqlo, joining the likes of British retailer Topshop who will open their second Melbourne store in Emporium Melbourne.
<img src="/images/stories/2013/04/emporiumapril24two.jpg" alt="emporiumapril24two" width="470" height="277">
The quarterly update released this week by CFS confirms recent retail leasing deals with lululemon, Marcs, Saba and M.J. Bale.
Previously announced stores include Coach, Carla Zampatti, Mulberry, Scanlan &amp; Theodore among many others.
Uniqlo will lease 3,000 square metres of retail space over four floors – a larger store than the 2,600 square metre Topshop store over three levels.
Emporium Melbourne will replace the former Myer Lonsdale Street store and will offer over 225 stores of premium retail space over eight levels.
The gross leasable area of the complex is 48,000 square metres with Myer accounting for 7,000 square metres of retail space.
<img src="/images/stories/2013/04/emporiumapril24one.jpg" alt="emporiumapril24one" width="470" height="402">
Designed by Buchan Group and WonderWall from Japan, the heritage listed facades on both Lonsdale Street and Lt Bourke Street will be restored.
The complex will also link with department stores Myer and David Jones via Pedestrian Bridges and tunnels.
Emporium Melbourne is being built by Grocon and was at the heart of the dispute last year between Grocon and CFMEU.
The project commenced in February 2011 and retail trading is set to commence later this year.
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Names, names names.....Uniqlo, Marcs, Saba and M.J. Bale set for Emporium Melbourne

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

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

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

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&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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