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Victorian planning minister Matthew Guy has received two further development applications for high rise towers in Melbourne's inner city precinct.
His department his received applications for a 49-storey tower on Ferrars Street, <a target="_blank" href="/news">South Melbourne</a> and a 43-storey tower on City Road, Southbank, Fairfax Media has reported.
The Ferrars Street development could be the first of many – if approved – for the Fishermans Bend Development area, the largest urban renewal area in Australia.
Port Phillip council mayor Amanda Stevens said the council was working closely with the state government urban renewal authority, Places Victoria, on a strategic framework for the area.
Mr Guy said he would not approve any development in the area until a strategic framework is in place.
He has been eagerly approving high-rise projects in and around the CBD over the past year with his vision to transform the Melbourne skyline into something resembling Manhattan.
His press release announcing the approval of Australia 108 last month had as its headline "Melbourne, moving upward".
"Melbourne’s skyline will take a dramatic turn upward following the Victorian Coalition Government's approval of the Australia 108 tower," said Guy.
Mr Guy approved plans to build <a href="https://www.propertyobserver.com.au/victoria/tallest-building-in-southern-hemisphere-approved-for-melbourne/2013031759915" target="_blank">Australia 108, the tallest highrise in the southern hemisphere</a>, despite concerns it will cast a shadow over the Shrine of Remembrance and later revelations that its height infringes on the flight path into Essendon Airport.
In late 2012, he gave the go-ahead for <a href="https://www.propertyobserver.com.au/victoria/melbourne-cbds-tallest-residential-tower-crown-tussle/2013022858541" target="_blank">CEL Australia’s $170 million Tower Melbourne </a>which will boast 555 apartments (and townhouses) across 71 storeys.
A third high rise project, the 72-level Vision tower was approved by Mr Guy in April last year. The Brady Group's proposed 226-metre tower is due to stand at 500 Elizabeth Street, near Queen Victoria Market. </body></html>

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Two more Melbourne high-rise towers seek Matthew Guy's tick of approval

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The Perth property market is sending confusing mixed messages to sellers and buyers as it is operating at different speeds in line with asking prices, according to RE/MAX WA managing director Geoff Baldwin.
Baldwin says the local market is being driven by vigorous competition for properties under $600,000. 
Baldwin says this lower priced stock is attracting multiple offers and sale prices at or even over the asking price.
Attracting fewer and more circumspect buyers is property priced betweeen $600,000 and $1.5 million.
“The $600,000 to $1.5 million price range is starting to see the feed through from this activity however certainly at a slower pace and with buyers being a lot harder on price.”
Meanwhile, Baldwin says above $1.5 million, buyers remain few and far between and sales in this range are still tending to be heavily discounted when compared to the lower ranges.
Baldwin expects the Perth median price to start to push back up to or even beyond the previous record high, due to the frantic buying activity in the sub $600,000 market.
Earlier this week, the Real Estate Institute of WA (REIWA) reported that Perth's median house price reached a <a href="https://www.propertyobserver.com.au/western-australia/perth-median-house-price-rises-to-new-peak-of-%24510000-reiwa/2013040160114?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews" target="_blank">record high of $510,000 in the March quarter</a> surpassing the previous peak of $505,000 in the March quarter of 2010.
The REIWA reported that homes selling for $600,000 to $700,000 and those between $800,000 and $1 million represented around 20% of all sales during the quarter.
“Collectively and in most cases individually, RE/MAX WA offices have just recorded best quarter in the history of the group and there is no sign of this demand subsiding any time soon," says Baldwin.
“News of this renewed buyer interest is causing owners of higher priced properties to raise their expectations and in many cases stopping sales."
RE/MAX WA predicts that the higher priced market will slowly recover, as those in the lower ranges will eventually sell and buy up into better property.
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Perth property market operating at three speeds: RE/MAX's Geoff Baldwin

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The Chenchow Little-designed house in Palm Beach is seeking $2.85 million after being passed in at its late February auction. 
Located on Bynya Road, the property – which has been featured in Belle Magazine and House Magazine – received a bid in the mid-$2 million range but the bid was rejected.
Property Observer <a href="https://www.propertyobserver.com.au/new-south-wales/chenchow-little-designed-hill-house-palm-beach-listed/2012083056320" target="_blank">reported</a> on its first listing in August last year.
Architecturally designed, The Hill House boasts clean double-brick and steel beam construction and travertine floors.
It features a double-height reception room and a living/dining room with floor-to-ceiling glass windows.
The four bedrooms each come with their own ensuites and a private courtyard.
Outside includes a covered terrace and a large freestanding swimming pool.
The <a target="_blank" href="/news">Palm Beach</a> property is surrounded by native shrubbery that has been designed by Spirit Level Design.
The current owners purchased the 715-square-metre vacant block in early 2009 for $950,000 through LJ Hooker Mona Vale agent Josephine Cowling.
The vendors are selling to relocate overseas for work commitments.
The Hill House has been <a href="https://www.realestate.com.au/property-house-nsw-palm+beach-112759343" target="_blank">listed</a> through Peter Robinson of LJ Hooker Palm Beach.
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Chenchow Little-designed Palm Beach house seeks $2.85m

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Surrey Hills has been crowned Melbourne’s hottest suburb for property this quarter, according to data released by realestate.com.au.
The report lists the top suburbs in Melbourne based on the amount of online clicks per property tracked through the realestate.com.au website.
Surrey Hills soared up the list from ninth place three months ago, to the number one spot.
“Demand for the Surrey Hills area has grown dramatically over the last few months,” says Toby Parker from Hocking Stuart in Balwyn.
“The clearance rate for property in the area earlier in the month was 100%.”
The median house price in Surrey Hills is $1,095,000 million.
“It’s a leafy, tree-lined, family orientated suburb which offers all the amenities close to hand,” says Parker.
Moving from seventh place to second this quarter was Blackburn North.
The median house price in Blackburn North is $597,500.
Realestate.com.au’s Victoria state manager Ben Auchettl says if you live in one of the top ten suburbs now might be the time to sell.
“We have more than 18.5 million visits to the realestate.com.au website every month, which gives us a solid indication of where people are looking to buy,” says Auchettl.
“The top suburbs are ranked by the number of people looking per listing in an area, which for these suburbs means a high level of buyer competition for each individual home listed in the suburb.”
“A high level of competition indicates an increase in market participation a few months down the tracks,” says Auchettl.
Park says Hocking Stuart Balwyn sold a four-bedroom property in Scheele Street for $370,000 above the reserve price last month.
Robert Larocca of Real Estate Institute of Victoria told The Herald Sun that median house prices in Surrey Hills are 20% below peak, which may be a key reason why more confident consumers are bidding strongly at auction.
The top ten list
<ol>
<li>Surrey Hills</li>
<li>Blackburn North</li>
<li>Fitzroy North</li>
<li>Bulleen</li>
<li>Carlton North</li>
<li>Hampton East</li>
<li>Chadstone</li>
<li>Croyden South</li>
<li>Wonga Park</li>
</ol>
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Surrey Hills crowned Melbourne's most sought after suburb: realestate.com.au

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The latest apartment complex to style South Brisbane will be Australian and Japanese trust fund Galileo’s $50 million Arena twin towers.
Tower one was launched on March 23 and has sold out. Tower two will not be released until May 4.
Located at 9 Edmondstone Street, the two 12-level twin tower apartment buildings will float above – via a toothpick design – a recreation centre which includes a pool, gym, garden and a retail complex.
“We’re finding we’re getting a very, very strong response from the market with respect to the design,” Paul Marshall of Galileo told Fairfax Media.
Designed by Ellivo architects, the 191 apartments will consist of one and two-bedroom apartments and a mixture of three-bedroom apartments.
<a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-south+brisbane-113102143?pid=project-profile-ppp-600001755-to-pdp-113102143">One-bedroom apartments</a>  start from $370,000 and have an internal size of approximately 65 square metres.
<a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-south+brisbane-113128115?pid=project-profile-ppp-600001755-to-pdp-113128115">Two-bedroom apartments</a> start from $520,000 and range from 77 square metres to 86 square metres.
With only three available, the <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-south+brisbane-113128639?pid=project-profile-ppp-600001755-to-pdp-113128639">three-bedroom dual key apartments</a> start from $815,000 and boast a 129-square-metre interior.
The dual key apartments will consist of a two-bedroom, two-bathroom apartment with a studio apartment next door.
The <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-south+brisbane-113173491?pid=project-profile-ppp-600001755-to-pdp-113173491">three-bedroom skyhome</a> apartments start from $1.5 million and have an interior of 174 square metres.
Two penthouses sold at the March 23 launch.
All apartments boast full height windows and glass doors and kitchens will have Bosch or Miele appliances with caerstone or marble benches.
Buyers will have the choice of a light or dark finishing scheme.
Galileo bought the 4,407-square-metre lot – currently home to a Celebrations bottle shop – last October for $5,736,000.
<a href="?option=com_googlesearch_cse&amp;q=Metro%20Residences" target="_blank">Galileo</a> is also the name behind Metro Residences, the three apartment towers located above the Chatswood Transport Interchange.
Current ventures also include the residential development The Residence in Hyde Park, East Sydney.
Construction will start mid-2013 and is expected to be completed by mid-2015.
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First of Brisbane's Arena twin towers sells out

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The battle for the DIY renovator market has continued with Woolworths securing a site at the Sydney Business Park in Sydney's north-west for a new Masters Home Improvement store.
<a target="_blank" href="/companies/woolworths">Woolworths</a> will go head-to-head with arch-rival Coles, which has also secured a site in the business park for a Bunnings DIY store.
IKEA will also build a new store in the business park.
Sydney Business Park is a new master planned 256-hectare commercial precinct located in <a target="_blank" href="/news">Marsden Park</a>.
The Masters store will be build as part of the first stage of the development with a 34,923-square-metre site currently under contract to Woolworths.
It will include 13,000 square metres of floor space and stock more than 40,000 products.
“Masters Home Improvement is a fantastic new addition to the range of retailers which will make up one of Sydney’s largest bulky goods retail centres with over 90 square metres of bulky goods floor space,” says Sydney Business Park’s Development Director, Owen Walsh.
“The $102 million upgrade to Richmond Road is progressing quickly with the main entry intersection opening expected to coincide with the completion of the M2 widening works.”
“These upgrades will enhance Sydney Business Park’s access to an even wider catchment of customers and staff,” says Walsh.
Sydney Business Park’s sales and leasing director Matt Foldes says enquiry from purchases and tenants has been strong.
Construction of the Masters store  is expected to start in late 2013, with the store planned to open in late 2014.
Sydney Business Park will have an end value of approximately $2 billion and will take approximately 12 years to complete.
Masters Home Improvement is a joint venture between Woolworths Limited and Lowes Companies Inc.
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DIY battle heats up with Woolworths to build Masters store in Marsden Park

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The $1.8 million sale of a townhouse in <a href="/news">Glen Iris</a> has set a record price for townhouses in the area.
Located on Peace Street, the <a href="https://www.domain.com.au/Property/For-Sale/Townhouse/VIC/Glen-Iris/?adid=2010286214" target="_blank">340-square-metre brand new home</a> went under the hammer on March 16 through Jason Brinkworth and Leonard Teplin of Marshall White with three hopeful buyers competing.
The townhouse features four bedrooms and three bathrooms and boasts a miele-equipped kitchen, oak floors, high ceilings and a landscaped outdoor area.
It stands in a cul-de-sac close to Gardiners Creek parkland.
The townhouse is also connected to the National Broadband Network (NBN).
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Glen Iris townhouse sale sets suburb record at $1.8 million

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An architecturally designed Australian colonial homestead property in <a target="_blank" href="/news">Duffys Forest</a> has sold for an undisclosed price.
RP Data records show it took just 39 days to sell.
Located 28 kilometres from the Sydney CBD, the 2-hectare lot boasts an 800-square-metre home with a wide timber posted verandah that wraps around the cement façade.
Featuring five bedrooms and four bathrooms, <a target="_blank" href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-duffys+forest-113176223">Claremont</a> was sold through Shayne Hutton from Ray White Terrey Hills.
Another Duffy Forest trophy estate, Jabulisa, businessman <a href="/news">Simon Tripp's impressive 6.9-hectare Sydney northern beaches acreage</a>,  is listed for sale with expectations around $20 million.
<a href="https://www.propertyobserver.com.au/new-south-wales/john-mcgrath-sells-duffys-forest-weekender-at-a-loss/2012050254515">Last year estate agent John McGrath</a> sold his seven-bedroom Duffys Forest retreat for about $4.05 million.
The homestead features spotted gum flooring and high rosette ceilings.
It also includes a library with an open fireplace, a home theatre with grandstand cinema seating, a games room and a gymnasium.
The main outdoor patio features a wet bar and an open fireplace.
Also located on the property is a championship-size tennis court, a heated pool and equine facilitates.
Included are eight paddocks, six stables, a feed room, tack room and a sand arena.
Hidden from the main residence is a two-bedroom guest retreat with two living spaces, kitchen and bathroom and a private pool.
Hutton declined to comment on the sale.
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Sydney northern beaches equestrian property Claremont sells at a gallop

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A local developer has snapped up a residential site on High Street, Preston, for $1.13 million.
The 711-square-metre site has a permit for a six-storey development consisting of 81 student apartments, basement car park and ground floor retail.
“The high number of buyer enquiries illustrated the market’s hunger for boutique development sites,” says CBRE selling agent Paul Tzamalis.
“The property was sold to an established local developer after generating interest from a wide range of buyers, including developers and land bankers.”
<a target="_blank" href="/news">Preston</a> is located nine kilometres north of the Melbourne CBD and has a median unit price of $382,194.
The median asking rent is $350 per week – offering a 4.8% yield.
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Local developer snaps up Preston site for $1.13 million

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The Killarney Castle located in the Sydney North Shore suburb of Gordon has sold for less than its $3 million price expectations.
The property was built for Irishman Thomas Taylor circa 1918 and is designed to reflect an <a href="https://www.propertyobserver.com.au/overseas/irish-house-prices-rise-for-first-quarter-in-six-years-as-imf-gets-residential-property-price-transparency/2012100756898" target="_blank">Irish</a> castle.
It was constructed from hand-cut sandstone and boasts wide floorboards and high ceilings.
Comprising five bedrooms – including a loft – and three bathrooms, the home has been restored to as-new condition.
The home boasts a pool, workshop, gym, and castle turret and includes a bridge to the second level, giving the impression of a moat.
A 70-square-metre entertainment room is detached from the main home and includes a wall projection TV, wet bar and a full-sized billiards area.
The district air raid shelter still exists below the castle.
The vendors had owned the <a href="/news">Gordon</a> property for 12 years, after purchasing it in 2000 for $1.53 million.
They have since done extensive renovations.
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-gordon-112485127">Killarney Castle</a> was sold by the Australian Mutual Provident Society in May 1939 to Alexander Reid Cant after Taylor became bankrupt.
It then moved into the hands of Agnes Christiansen in 1940, and sold again in 1944 to the Gastineau-Hills family who lived in the home for 25 years.
In 1969, the land was subdivided and the Ku-ring-gai council purchased the rear portion of the property and kept it as a natural bush reserve.
Sam Johnston from Burns and Burns Real Estate Pymble secured the sale.
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Gordon's Irish-inspired Killarney Castle sells

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

Joel Robinson

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

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

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

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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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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