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Asian buyers continue to buy into Melbourne’s eastern suburbs – in particular the suburb of Balwyn – for the sake of their children’s education.
It is that fundamental desire that makes a suburb like Balwyn so attractive to this core buying constituency.
Balwyn – a picturesque suburb located 10 kilometres east of the CBD – is home to 2,861 residents of Chinese descent, out of a population of 12,944, according to the 2011 census.
The median house price is $1,280,000, and there is ample public transport infrastructure, particularly trams.
Jellis Craig Balwyn director Richard James says the majority of Chinese buyers purchase in high school zones and close to public transport routes that will take their children safely to school.
Balwyn is located in the Whitehorse school zone.
Living within a particular school zone means a place is reserved for you at schools within that zone.
Children may attend schools outside of the school zone they live in, but it depends on the number of vacancies available.
James says Chinese buyers generally buy new properties or properties that have been significantly renovated.
The suburb offers Balwyn High School, but close by are a dozen other secondary schools, including Box Hill High and Canterbury Girls School.
James says Balwyn has developed a large Chinese community and is viewed as a safe place to live.
"People coming from another country feel very safe," he says.
"Balwyn is a very family-orientated location and gets a lot of recommendation from friends and family."
James mostly sells to those with permanent residency, but occasionally sells to people with temporary status or offshore buyers, who are subject to approval by the Foreign Investment Review Board (FIRB).
Balwyn agents say school zoning influences are as important as ever, with Tom Ryan from Jellis Craig Balwyn saying the agency always has buyers wanting to buy in the zone due to the quality of education offered to their children, and the associated price is extremely reasonable.
That’s despite the price rise, especially around 2007, when property commentator Mark Armstrong noted that the price point was pushing some buyers towards Mount Waverley and Glen Waverley.
“You will always get some people who simply cannot afford the Balwyn High zone," says Ryan.
"That situation has not changed over the last 10 years but the amount of people wanting the Balwyn area is always very solid.”
"As long as the school maintains its reputation the sales will continue to flourish, regardless of the prices," says Ryan.
A <a href="https://www.realestate.com.au/property-house-vic-balwyn-112964511" target="_blank">three-bedroom, one-bathroom home</a> on Tonkin Avenue (pictured below) sold on March 2 for $1,252,000.
<img alt="balwynmarch12one" height="353" width="470" src="/images/stories/2013/03/balwynmarch12one.jpg">
Located within the Balwyn High School zone, it was the first time the home was offered in over 30 years.
Situated on 694 square metres, the sale was closed by Steve Chharia from Allens Real Estate Doncaster East.
On the higher end of the spectrum, a <a href="https://www.realestateview.com.au/Real-Estate/5-belmont-avenue-balwyn/Property-Details-sold-residential-4950000" target="_blank">four-bedroom, three-bathroom home</a> (pictured below) sold in the suburb last week for $1,825,000.
<img alt="balwynmarch12two" height="313" width="470" src="/images/stories/2013/03/balwynmarch12two.jpg">
Located only seconds from the Whitehorse Road tram and situated on 752 square metres, the sale was closed by Noel Jones Balwyn.
A <a href="https://www.realestateview.com.au/Real-Estate/2-10-henry-street-balwyn/Property-Details-sold-residential-4947722" target="_blank">two-bedroom, one-bathroom unit</a> on Henry Street sold on March 2 for $912,000.
The unit boasts a secure gated entry, two alfresco courtyards and is located within the Balwyn High School zone.
Marshall White Armadale closed the sale.
Balwyn has had a steady start to the year with a clearance rate of 69% from 29 auctions and Balwyn North has a clearance rate of 73% from 22 auctions.
REIV's policy and public affairs manager Robert Larocca says these rates are spot-on the Melbourne average at the moment of 70%, but it is too soon to draw comparisons.
The average household size in Balwyn is three persons, and family households account for about 70% of the population, according to RP Data.
For more on the allure of Australian property to Asian buyers, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment">download our free eBook. </a>The eBook is also available for<a target="_blank" href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook"> free download in Chinese.</a>
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Balwyn’s school zone continues to draw Asian buyers

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The Easter auction scene centres on Sorrento with veteran stockbroker Gary Reid is selling his beachside residence at an Easter auction with hopes of $1.25 million plus.
Located on <a target="_blank" href="https://www.kayburton.com.au/property/26-st-pauls-road-sorrento">St Pauls Road </a>in Melbourne’s suburb Sorrento, Reid built the home eight years ago.
The four bedrooms, two bathroom house is only a stone's throw from Websters Corner front beach.
The living room is encircled by a courtyard on one side and an outside decking and gardens on the other.
The auction is scheduled for March 31 and has been listed by Liz Jensen and Linda Boulter from Kay and Burton Portsea.
A <a href="https://www.kayburton.com.au/property/49-coppin-road-sorrento" target="_self">five-bedroom home </a>on Coppin Road Sorrento will also go under the hammer on March 30 with price expectations over $2.5 million.
The one-year-old home is located on a 944-square-metre block and is walking distance from the beach.
Featuring three living areas, a screening room and three bathrooms, the property has been titled Whitehaven.
The property also boasts ebony stained hardwood floors, a surrounding decking and a 11-metre mosaic tiled swimming pool.
Liz Jenson of Kay and Burton Sorrento has listed the property.
Another property in Sorrento will also be auctioned off over Easter with price expectations around $2 million.
The five-bedroom limestone and timber home on <a target="_blank" href="https://www.kayburton.com.au/property/3-king-street-sorrento">King Street</a> was built nine years ago by owner Alastair Young.
It boasts four bathrooms, a media and games room and several living zones that are located both inside and out.
Situated on approximately 1,260 square metres, the home is surrounded by landscaped gardens.
Alastair and his wife, Susan, are moving to their 150-acre farm in Cape Schanck.
David Heathcote of Kay and Burton Sorrento listed the home.
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Sorrento dominates the Easter auction offerings

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The AXF Group, which began developing property in Australia in 2005, ranks among the busiest developers in Melbourne's outer eastern suburbs.
“Such has been the demand for CBD residential development opportunities that many offshore buyers have turned their attention to suburban residential hotspots such as precincts in Doncaster and Box Hill,” Clinton Baxter from Savills Australia recently noted.
The AXF Group, founded in Shanghai, is currently marketing <a href="https://www.axfgroup.com.au/2010/08/sovereign-point-doncaster/" target="_blank">Imperial at Doncaster</a>, and is soon set to build the tallest apartment complex in Box Hill.
Imperial (pictured below) is a 96 apartment complex consisting of one-, two- and three-bedroom apartments. Completion of Imperial is anticipated towards the end of 2014.
<img src="/images/stories/2013/02/axffeb26one.jpg" alt="axffeb26one" width="470" height="186">
Located on Sovereign Point Court, Imperial will be 10 storeys high, built to a design by the Buchan Group architects positioned directly across from Westfield Doncaster.
In 2011 AXF Group completed The Berkeley project, a 116-apartment project in Doncaster.
All of the Berkeley apartments sold off the plan in 2009, and majority of buyers were of Chinese descent.
The 33-storey apartment Station Street Box Hill development will be another landmark.
At 109 metres tall it will preside over Box Hill, 14 kilometres east of Melbourne CBD. Known for its Asian culture, the residents of Chinese descent in Box Hill account for about 27% of the population.
AXF Group will redevelop a 2,417-square-metre car park into the 275-apartment complex.
Sitting across from the Centro Box Hill shopping centre, the $135 million development will incorporate the major transport interchange at Box Hill station.
The podium level will contain a high-end retail complex and a varied range of dining experiences, from Asian-style street food markets to fine dining restaurants.
A proposal for a 38-storey development on the site was put forward but was refused in 2010 by then planning minister Justin Madden as it did not conform with the Whitehorse Planning Scheme.
The median house price in Box Hill is $800,000 and the median unit price is $380,000, according to RP Data.
Separate houses account for almost 59% of dwelling types, with units and apartments accounting for almost 24%, but increasing in number.
Box Hill South was Melbourne’s best-performing suburb for units in November 2012, with a median unit price of $486,000, according to RP Data.
Just over a year ago, AXF completed Dorking Gardens, a nearby $7 million townhouse development in Box Hill North.
Located at 231 Dorking Road, the complex comprises nine double-storey townhouses plus one single-storey townhouse.
Landscape designer and host of  Gardening Australia John Patrick worked on the garden concept for the townhouses. 
Scott Jessop from AXF says many of the townhouses were sold to local Asian buyers.
In 2011 AXF Group completed The Berkeley project, a 116-apartment project in Doncaster.
All of the apartments had been sold off the plan in 2009, and majority of buyers were of Chinese descent.
Richard Gu of the AXF Group bought Total House last August, a site on the corner of Russell and Little Bourke streets, in the heart of Chinatown, for $39.5 million.
For more on the allure of Australian property to Asian buyers, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">download our free eBook. </a>The eBook is also available for<a href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook" target="_blank"> free download in Chinese.</a>
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Chinese developer ASX Property selling Imperial, the crown of Doncaster

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The iconic Annesley House on Julia Street in Victoria’s <a target="_blank" href="/news">Portland </a>remains listed for sale with its $1.29 million asking price.
The restored two-storey residence acts as a self-contained accommodation business, with seven fully furnished apartments.
Annesley House was built in 1878 for Dr Brewer – the chief medical officer and then mayor of Portland – who not only used the house as a surgery, but lived onsite, too.
Located on 1,344 square metres, the restored house sits midway between Melbourne and Adelaide, on the western end of The Great Ocean Road.
{yoogallery src=[images/stories/2012/09/oct2portland2]}
In the early 1900s, the Wadmore sisters took over Annesley House from Dr Brewer and turned it into a guesthouse.
The honeymoon suite in the house is named after the sisters.
In the 1940s, the property was passed to Mrs Luers, who owned the property until 2004, when the current owner, Mark Robinson, bought it.
The property has an established income stream, with apartments available to book from $150 to $210 a night.
Property Observer initially wrote of its listing <a target="_blank" href="https://www.propertyobserver.com.au/leisure/heritage-1870s-portland-victoria-annesley-house-hotel-listed/2012103056735">last October</a>.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-portland-107468953">It is listed by Nick Adamson at Charles Stewart Warrnambool</a>.
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Portland's Annesley House remains listed

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A historic double brick home in Victoria’s <a target="_blank" href="/news">Maldon </a>has been listed for sale with a $690,000 asking price.
Charlotte House was built circa 1860 by carpenter John Boots, shortly after the 1850s gold rush. He was something of an evangelical entreprenuer.
Following his death in 1875, Charlotte Boots occupied the property until 1885.
Comprising three bedrooms and one bathroom, Charlotte House has been restored but still boasts original features.
The home has original timber, brick paved and flagstone floors as well as a Stanley wood stove with a water jacket.
The house also includes four open fireplaces and boasts bluestone foundations.
Boots sold the property to Ellen Paul in 1875, who then sold it to John Templeton Couchman, a local mine manager, in 1910. It has since had four more owners.
Located on Templeton Street, it is situated on a double block of 2,024 square metres.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-maldon-112892395">Charlotte House has been listed by Leah Panos at Waller Realty Maldon</a>.
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Historic Charlotte House, Maldon, listed

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The luxury architecturally designed Hedges Avenue, Mermaid Beach home of troubled Gold Coast developer Bruce Tilley sold for $5 million at the Ray White Surfers Paradise Group’s annual prestige auctions.
Property Observer <a href="https://www.propertyobserver.com.au/queensland/no-expenses-spared-mermaid-beach-property-hits-the-market/2012052254803" target="_blank">reported the listing in May last year</a>.
{yoogallery src=[images/stories/may23mermaid]} 
Tilley held the house (pictured above) through Hedges Avenue Pty Ltd, and receivers Andrew Fielding and David Whyte were appointed to take control of the company in October last year.
The house was built two years ago after Tilley paid $1.4 million for the 405-square-metre landholding in 2000.
The replacement cost of the property, which has just two bedrooms and a study, has been estimated to be as high as $10 million.
The 20th annual prestige auction event over the week experienced an 80% clearance rate and more than $32 million in sales.
“The sales under the hammer of such high quality properties and the strength of bidding (84 bidders) shows that people have identified that now is the time to make their move on blue chip properties on the Gold Coast,” says RWSP Group’s chief Andrew Bell.
“Bidding was very robust and the prices achieved on most of the properties were a very positive sign. “
“Most of the sales surpassed vendor expectations,” says Bell.
However it was not a happy ending for all, with the Bellagio La Villa – a sprawling estate at Tallebudgera – passed in at $5 million.
{yoogallery src=[images/stories/2013/01/jan18bellagio]}
Bellageio La Villa (pictured above) is home to horse racing enthusiast and property developer Paul Sweeney and his wife, Viki Farrar.
The Sweeneys' luxury home features 10 ensuited bedrooms, plus multiple living areas, a library, media and music rooms, a gym, and indoor pool and spa.
Bell said negotiations would continue with a number of parties interest in the properties.
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RWSP Group secures $32 million in sales topped by $5 million on Hedges Avenue

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Due to the lengthy forewarning of the September federal election, the election is unlikely to have a detrimental effect on the property market, according to Leanne Pilkington general manager of Laing+Simmons.
Pilkington says September is usually the month the market picks up due to the weather warming up, and the election date may cause a slight delay in spring campaigns being launched.
Although Pilkington says any potential delay will be short lived.
“It could be argued that a September election is preferable to October or November, as once the election outcome is finalised, the spring selling period can move into full swing,” says Pilkington.
“Buyers will still feel they have time to make a considered purchase and vendors need not rush to accept prices lower than their expectations.”
“In the five to six weeks leading up to an election, which is a more typical campaign timeframe, we would expect to see the market slow down until an outcome is finalised, as buyers take a wait-and-see approach and sellers react accordingly,” she says.
Pilkington also says both buyers and sellers will be eager to understand the policy positions of the Government and Opposition as they relate to the property market.
Depending on the policies announced, Pilkington says the election might have the effect of bringing forward demand before September 14 or delaying activity until an outcome is known.
First homebuyers are the main section of the property market that will be impacted by an election outcome, as grants and incentive programs are targeted at this buyer category.
Pilkington also says that vendors whose properties suit this buyer profile will be equally interested.
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September election unlikely to have a detrimental effect on the market

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Adam Elliot, the Oscar-winning creator of the animated Harvie Krumpet film, has his <a href="https://www.realestate.com.au/property-house-vic-prahran-112890831" target="_blank">Prahran Edwardian residence</a> listed for auction.
The price hopes are $700,000 plus.
<img src="/images/stories/2013/02/elliott.jpg" alt="elliott" width="470" height="353">
The two-bedroom, one-bathroom refurbished house has been home to Elliot since 2007.
Located on Fern Avenue, which is actually in Windsor, it comes with tall ceilings with antique French chandeliers.
It is scheduled for February 23 auction. 
As he has always wanted to combine his home with a mini production studio, Elliot says he's now looking for new premises north of the city with his partner, Dan Doherty.
The couple bought the property for $600,000 in 2007.
The property has been listed by Fiona Martin from Hocking Stuart Armadale.
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Adam Elliot, the Harvie Krumpet creator, list his Prahran Edwardian home 

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Keith Lloyd – a well-known Brisbane business figure – has listed his <a target="_blank" href="https://www.raywhite.net/?p=6935">riverfront investment property</a> in <a target="_blank" href="/news">Kangaroo Point</a>, Queensland, which hosts the Shafston International College campus.
<img height="313" width="470" src="/images/stories/2013/01/shafston1.jpg" alt="shafston1">
Located at 46 Thorn Street, the one-hectare property includes the Shafston House and three other campus buildings.
Sources say it has expectations of around $40 million.
Some 3,253 square metres of strata title space over five levels in the Shafston University Mansions is included in the offering.
<img height="313" width="470" src="/images/stories/2013/01/shafston2.jpg" alt="shafston1">
Lloyd’s family company holds a 10-year lease on the campus and will continue to own and run the college.
The components offered on this Brisbane property form a combined commencing rental of $2,343,050 per annum with annual review increases.
“It’s being sold as a going concern investment. It’s an education investment,” says Rick Bird of Ray White Transact.
“We expect a lot of interest from Asia.”
<img height="313" width="470" src="/images/stories/2013/01/shafston3.jpg" alt="shafston1">
The 160-year-old Gothic-style house was built in 1851 by explorer Henry Stuart, and continued as a family home for over 60 years.
In 1915, the property first began as an educational institute when it was leased to the crèche and kindergarten association.
Following World War One and a shortage of hospital accommodation, the government acquired the property to house the wounded.
Lloyd acquired the leasehold from restaurateur Gary Balkin in 1994 and established Shafston International College in 1996.
More than 60,000 students have attended the college since its inception.
Llyod has also listed an adjoining 1,812-square-metre corner site, which allows for a 20-level mixed-use building.
Located at 16-32 Thorn Street, the site includes an apartment complex of 31 apartments, currently being operated as student accommodation.
The corner sit can be purchased along with the larger site under long term lease to Shafston College, but depending on interest levels, may be sold as a seperate parcel. 
The Shafston House is the third oldest house in Queensland and has been listed by Rick Bird and Joe Tynan from Ray White Transact.
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Shafston House listed by Keith Lloyd

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Four of the recently renovated apartments in the  <a href="https://www.realestate.com.au/property-apartment-nsw-bellevue+hill-112462191" target="_blank">Bellevue Hill 1950s block Baxter </a>– complete with retro kitchens and period-style bathrooms – have sold prior to its February launch.
Located at 85 Drumalbyn Road, the most expensive two-bedroom apartment sale to data has been $985,000.
The other three sold apartments ranged from $695,000 and $900,000.
The remaining five two-bedroom apartments and one studio are available from $755,000 to $785,000.
Deemed to be a good example of the International Style with Abstract Modern style influences, <a href="https://mondell.com.au/projects/current/bellevue-hill--baxter" target="_blank">Mondell Property Group </a>bought the 1950s retro apartment complex in late 2011 for $4.4 million.
<img alt="baxter" height="353" width="470" src="/images/stories/2013/01/baxter.jpg">
The developers spent $350,000 plus on refurbishing the 10 apartments under the watchful interior design by SJB designers.
It was architect LT Rayney who purchased the block of land in 1957 as a personal investment and then constructed the residential flat building in 1958.
Laurence Rayner had graduated in architecture from the Technical University of Budapest in 1934. His father had been a master builder and his uncle an architect.
While his architectural education did not focus on the emerging Bauhaus movement, Rayner reportedly admired Hungarian contemporaries who came to Sydney, including Emery Balint and George Molnar.
Anticipating the start of WWII, Rayner emigrated to Australia in 1939 and worked with Cyril Ruwald in Sydney with some initial projects including pubs for Tooth's Breweries.
In 2005, the <a target="_blank" href="/news">Woollahra</a> Council commissioned an assessment of the building to assess whether the building had potential heritage significance.
The assessment was completed by restoration architect Clive Lucas, who said the building had some local heritage significance but no state heritage significance. 
“The building is an interesting example of modernist design; however it is not of sufficient significance to warrant listing on the Woollahra LEP,” said Lucas.
Chris Russell from Mondell Property Group says he expects the remaining apartments to sell at the weekend launch.
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Late 1950s International Style Bellevue Hill restored beauty

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."

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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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