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A mixed-used commercial and residential building metres from <a href="/news">Bondi Beach</a> is expected to fetch over $20 million at its May 8 auction.
Located on a prime corner site at <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/275024" target="_blank">Hall Street and Gould Street</a>, the three-level building includes eight retail shops and 10 residential apartments.
It is currently home to 7-Eleven and Flight Centre, who both have long-term leases.
“Properties like this are exceptionally rare, especially in this location, which will drive highly competitive bidding and should result in this being one of the highest priced commercial properties sold at auction for many years,” says Anthony Bray of CBRE.
“This property offers the option to sell each unit off individually, or keep as an investment and enjoy growing returns currently at $1.3 million a year, plus substantial depreciation benefits.”
“This building is strata approved and offers the possibility of increasing the floor space subject to council approval,” says Bray.
CBRE and Raine &amp; Horne Double Bay agent Martin Maskin have the listing.
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Mixed-used building in Bondi Beach expected to fetch over $20 million at auction

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One of the few remaining Victorian mansions in Malvern has been listed for sale for $2.3 million.
Built circa 1896, the two-storey home on Wattletree Road features original period features including decorative cornices and plaster ceilings.
The five-bedroom, three-bathroom home includes six open fireplaces, two studies and a large basement cellar with a capacity of more than 2,000 bottles.
Located on 842 square metres, the property boasts landscaped gardens with an outdoor spa and an outdoor toilet is incorporated into the double lock up garage.
There is potential to develop a third story within the roof cavity.
The property comes with an approved permit for a specialist medical centre for four practitioners.
The current owners have been with the property for around 20 years. 
Mark Williams and Gowan Stubbings of <a href="https://kayburton.com.au/property/190-wattletree-road-malvern" target="_blank">Kay and Burton South Yarra</a> have listed the home for a May 4 auction.
Stubbings says as it is such an "iconic home" in an "iconic location" it has received a great deal of interest.
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One of few remaining Victorian mansions in Malvern listed for $2.3 million

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A three-bedroom renovated Victorian residence in Albert Park listed for weekend auction with a price guide over $1.6 million sold at an undisclosed price.
Bidding had stalled at $1.6 million with two bidders seking the house, accordng to the James Buyer Advocates report.
Located only three kilometres from the Melbourne CBD, the solid brick residence on Kerferd Road sits on approximately 256 square metres.
The home includes two bathrooms, open plan dining and kitchen and a landscaped courtyard.
The semi was built in 1890 and sits on a 256-square-metre allotment.
It has been with the same family for 15 years.
Simon Gowling of Marshall White was the <a target="_blank" href="https://www.marshallwhite.com.au/5396505/">listing</a> agent.
The REIV reported a clearance rate of 72% this weekend compared to 69% last weekend, which was revised down from its preliminary 71% advisory.
There were 628 auctions initially reported to the REIV, with 454 selling and 174 being passed in, 110 of those on a vendor bid.
By Sunday there were 653 auctions reported to the REIV, with 468 selling and 185 being passed in, 117 of those on a vendor bid.
There were a scheduled 720 Melbourne auctions.
Next weekend the REIV expects around 670 auctions.
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Two bidders then passed-in Albert Park semi sells post-auction for around $1.6 million pre-auction estimate

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There are 1,556 auctions are scheduled across the nation’s capital cities for this week, with Melbourne leading the way with 788 scheduled auctions, according to RP Data. 
Sydney has 480 scheduled auctions for the week ending April 28.
Auctions slightly slowed across the capital cities last week with 1,387-recorded auctions, a slight drop from 1,410 auctions the week prior, according to RP Data.
This time last year there were 1,159 recorded auctions.
Meanwhile, the national auction clearance rate for last week was 63.7%, an increase from the previous week of 61.8%.
It is a vast improvement from the same time last year where it was 53.2%.
Sydney recorded the strongest auction clearance rate last week of 72.2%, up from 67.2% the week before.
However the number of auctions in Sydney declined from 529 the week prior to 427 last week.
The same time last year Sydney recorded 363 auctions and a clearance rate of 54%.
Melbourne recorded an impressive 712 auctions last week and experienced a clearance rate of 67.7% - an increase from the recorded 66.5% for the previous week.
The same time last year Melbourne recorded a clearance rate of 58.3%.
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Melbourne leads the way with 788 scheduled auctions this week

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The neighbouring property of last week’s most expensive sale has topped the list for the third week of April, selling at auction for $3.97 million, according to RP Data.
Located at 73 St Vincent Place Albert Park, the three-bedroom, one-bathroom property is situated on a 481-square-metre allotment. 
The property was originally part of a three-terrace property owned by the Loreto Sisters, who bought it in 1969.
Prior to the Loreto Sisters purchase, the property had been a Christian Brothers boy's hostel, which closed in June 1967.
The property changed hands four years ago when acquired by Fiona Olney-Fraser, wife of corporate raider Darren Olney-Fraser, for $10.1 million, who then split the property up into three empty shells.
Westpac took control of the properties in 2010.
75 St Vincent Place topped <a href="https://www.propertyobserver.com.au/victoria/rare-st-vincent-place-mortgagee-sale-attracts-four-bidders/2013041560418?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">last weeks top 10 most expensive sales list</a> having sold at auction for $4.3 million.
Listing agent Michael Szulc of Cayzer Real Estate Albert Park says the auction was almost a carbon copy of the week before, with a strong attendance rate of around 200 people and five bidders.
Szulc says the slightly lower price was expected due to the structure of the building.
The last terrace <a target="_blank" href="https://www.cayzer.com.au/index.cfm?pagecall=property&amp;propertyid=2299862&amp;menuItemID=">77 St Vincent Place</a> will go to auction Saturday April 27.
Mal James of James Buyer Advocates ranks St Vincents Place as equal second as Melbourne's highest land value street at approximately $6,000 per square metre - not far behind Brighton's absolute waterfront streets of $9,000 per square metre.
James says the successful buyers will face a renovation bill of between $2 million to $3 million depending on their wishes.
If number 77 sells for over $3 million this weekend, it will represent a 20% increase on the 2008 sale price of just over $10 million for all three terraces. 
New South Wales continues to dominate the top 10 most expensive sales list with six properties listed.
Victoria is securing more spots on the list as we bid farewell to the school holiday period, having four properties listed this week – two more than last week.
The top 10 most expensive sales across Australia last week were
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/73_st_vincent_place_albert_park_vic_3206/9183476">73 St Vincent Place, Albert Park, VIC, 3206</a>, three-bedroom house, sold at auction on April 20 by Cayzer Real Estate Albert Park for $3.97 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/43_willis_street_hampton_vic_3188/11166593">43 Willis Street, Hampton, VIC, 3188</a>, four-bedroom house, sold at auction on April 20 by R T Edgar Real Estate Brighton for $2.555 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/20_pemberton_street_strathfield_nsw_2135/6492258">20 Pemberton Street, Strathfield, NSW, 2135</a>, five-bedroom house, sold at auction on April 20 by Raine &amp; Horne Burwood for $2.35 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/123_beach_road_parkdale_vic_3195/12460163">123 Beach Road, Parkdale, VIC, 3195</a>, four-bedroom house, sold at auction on April 20 by Hodges Real Estate Mentone for $2.28 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/37_wolseley_road_point_piper_nsw_2027/5498957">3/37 Wolseley Road, Point Piper, NSW, 2027</a>, four-bedroom unit, sold at auction on April 20 by McGrath Estate Agents for $2.165 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/40a_brown_street_newtown_nsw_2042/15055485">40A Brown Street, Newtown, NSW, 2042</a>, four-bedroom house, sold at auction on April 20 by Raine &amp; Horne Double Bay for $2.125 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/6_worcester_place_turramurra_nsw_2074/7008127">6 Worcester Place, Turramurra, NSW, 2074,</a> four-bedroom house, sold at auction on April 18 by L J Hooker Wahroonga for $2.025 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/8_gregory_street_south_coogee_nsw_2034/6255301">8 Gregory Street, South Coogee, NSW, 2034</a>, three-bedroom house, sold at auction on April 20 by McGrath Estate Agents for $1.91 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/36_chapman_street_north_melbourne_vic_3051/12302526">36 Chapman Street, North Melbourne, VIC, 3051</a>, four-bedroom house, sold at auction on April 20 by Nelson Alexander Carlton North for $1.901 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/57_lauderdale_avenue_fairlight_nsw_2094/2306862">3/57 Lauderdale Avenue , Fairlight, NSW, 2094</a>, three-bedroom unit, sold on April 20 by Bergelin Estate Agents for $1.75 million
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Albert Park terrace tops 10 most expensive sales for second week

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Celebrity chef Adriano Zumbo is joining the likes of Masterchef’s George Calombaris and leasing a ground level retail space in Fridcorp’s South Yarra development Lilli.
It will be the first Melbourne store for the patissier, who signed a ten-year lease with two further seven years option.
The Lilli apartment development (pictured below) is now fully leased on street level, boasting Calombaris’ Mama Baba restaurant and Two Birds One Stone café. The former warehouse precinct has been turned into a place to shop, meet and eat with the 120-apartment complex built on the site of the notorious former Salt nightclub.
<img src="/images/stories/2013/04/lilliapril23one.jpg" alt="lilliapril23one" width="470" height="673">
There are still a number of office suites available on level five of the Claremont Street project.
The celebrity chef Adriano Zumbo has been busy tantalising the tastebuds of Sydneysiders close to Balmain with his sweet creations like macaroons, moreish passionfruit tarts, gateaux and croquembouche before hitting national celebrity status as a Master Chef judge in 2010.
Zumbo and fellow Masterchef judge George Calombaris will be side by side at lilli where Fridcorp sought out the best culinary names for its Forrest Hill precinct development.
Designed by Hecker Guthrie and Elenberg Fraser, lilli will help expand Melbourne’s laneway culture to South Yarra with the final section of a pedestrian laneway forming a bustling retail hub connecting Chapel Street to South Yarra station.
It was last July when the team behind Melbourne's successful Three Bags Full, APTE and Liar Liar cafes opened the doors to their latest dining destination - Two Birds One Stone -  on the ground floor of the lilli development.
Nathan Toleman of Two Birds One Stone suggested the cafe provided bespoke and intimate experiences not only designed for attracting a new crowd from 3141 and the surrounding postcodes, but for their loyal customers from their previous venues.
Mama Baba opened in January 2012, Mama Baba displaying the cultural influences of Calombaris' background.
"Mama Baba is all about handmade pasta influenced by my Greek Cypriot mother and my half-Italian father. 
"It's also about an experience," Calombaris said.
"We have brought back old school cocktails, local beers on tap and a wine list that focuses on Italian, Greek and interesting local varietals."
On its 2009 off the plan launch the pricing of the apartments at lilli ranged from $350,000 to $650,000 and in size from 45 to 70 square metres.
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Adriano Zumbo joins George Calombaris in South Yarra's Fridcorp Lilli development

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Ray White Surfers Paradise Group secured more than $5 million in sales at their Autumn auction on the Gold Coast last Sunday.
Some 28 properties went under the hammer with 16 sold, reflecting a clearance rate of 57%.
The highest priced sale included an acreage dwelling in <a href="/news">Helensvale</a> which sold for $1.1 million.
The main home includes three bedrooms plus a study and a family room with a wet bar. The 4,318-square-metre riverfront property last sold in 2004 for $720,000.
Another sale was a 14th floor apartment in the Surfers Paradise block, Surfers Manhattan, which sold for $980,000 through Tolemy Stevens from Ray White Prestige.
The unit (pictured below) occupies half of the 14th floor and features three bedrooms and two bathrooms.
<img src="/images/stories/2013/04/surfersapril19one.jpg" alt="surfersapril19one" width="470" height="300">
Surfers Manhattan is a residential building only, with no holiday letting allowed.
The apartment last sold in 2009 for $970,000 and $1.05 million in November 2004, suggesting prices continue to bounce along the bottom.
<img src="/images/stories/2013/04/surfersapril19two.jpg" alt="surfersapril19two" width="470" height="312">
The most recent sale at Surfers Manhattan was $1,565,000 for the 350 square metre whole floor on the 17th floor. It had previously sold at $105 million in 1997 and at $1.1 million in 1994.
The prestige properties sold last weekend by Ray White Surfers Paradise almost totalled $20 million.
“The result follows prestige sales very strong week of sales in the prestige segment of the market,” says Ray White Surfers Paradise CEO Andrew Bell.
“This reinforces a strong sales trend in the first quarter across the Ray White Surfers Paradise Group, with sales result in keeping with the best market in Australia.”
 Bell says inspection volumes are also very high this year, which shows there are more people looking to get into the market.
“Buyer confidence is improving and coupled with lower than usual supply levels is creating greater competition for properties,” says Bell.
There were 103 registered bidders at the auction.
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Ray White Surfers Paradise secures competitive auction clearance rate as prices bounce along the bottom

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A complex comprising of six apartments on Bay View Street, Lavender Bay will go to auction this Saturday with a price guide of around $8 million.
The apartment building comprises of three one-bedroom and three two-bedroom apartments and sits on 720 square metres of waterfront land.
The property features a 19-metre deep-water frontage, a private marina and a waterfront pool and boasts views across Lavender Bay to the Harbour Bridge.
The complex comes with an existing development application to create three luxury apartments or to transform the property into a grand single residence.
The same family has held the property for 52 years and family members currently live in some of the apartments.
Listing agent <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/northsydney/properties/274168">Todd Houghton from Raine and Horne North Sydney</a> says interest has be strong with around 45 people inspecting the property.
Houghton says a couple of the apartments have been renovated however it’s a bit rough and ready and offers a great redevelopment opportunity.
The apartment building was constructed in 1899.
The gentleman who constructed it also built three similar apartment buildings on Bay View Street.
Houghton says the neighbouring number 7 property was turned into a duplex, with one apartment selling in November last year for $5.85 million.
The sister property located at 9 Bay View Street was converted into a signature family home and sold for $11 million in 2008.
Meanwhile, 3 Bay View Street is still the original apartment building.
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Lavender Bay apartment block for auction after 52 years ownership with $8 million hopes

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A circa 1897 brick homestead at 157 Crooked Lane, North Richmond has sold having been listed with a price guide of $890,000.
If fetched $892,000.
The original asking price was $950,000 plus before the expectations were  revised.
Nigh Hill features three bedrooms, two bathrooms and a wrap around verandah.
The original home has been extended and renovated by local heritage builder.
Located on 5.28 hectares, the property includes timber cattle yards, pasture improved paddocks, a dam and two road frontages.
The vendors purchased the former little weekender cottage 30 years ago before renovating it.
The property was sold by <a target="_blank" href="https://www.bennettproperty.com.au/index.cfm?pagecall=property&amp;propertyID=2334803&amp;propertyStatus=SoldRented&amp;realestate=157_Crooked_Lane_NORTH_RICHMOND_NSW_2754">Michael Bennett of Bennett Property New South Wales.</a>
The median house price in <a target="_blank" href="/news">North Richmond</a> is $445,000, a price growth of 14.1%, according to RP Data.
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The 1897 Nigh Hill, North Richmond sells

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A four-bedroom home in Fig Tree Pocket is listed for a auction this Saturday with a $2 million-plus price guide. 
Situated on a large 2,425-square-metre elevated block across two titles on Mactier Street, the two-storey heritage-style home last sold in 2008.
Inspired by Brisbane’s Milton House on Coronation Drive, the home boasts 3.3-metre high ceilings, sandstone stairs and a large wrap around verandah.
Milton House features Georgian architecture and was built in 1853 for retired Queen Street chemist Ambrose Eldridge.
Built in 1995, the Fig Tree Pocket property features a floodlit tennis court and a pool.
<a href="https://www.adcockprestige.com/properties.php?id=7374883" target="_blank">Jason Adcock from Adcock Prestige Brisbane</a> says the property (pictured below) has confirmed bidders for its March 20 auction.
<img alt="figtreeapril18one" height="310" width="470" src="/images/stories/2013/04/figtreeapril18one.jpg">
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Milton House look alike property seeks $2 million plus in Fig Tree Pocket

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."

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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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