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The Real Estate Institute of Western Australia president David Airey has downplayed a report that the Perth rental market was tight with rents going up.
The REIWA data currently shows 4,200 rental properties on the market after a significant jump which puts the vacancy rate rose at 3.2% up from a tight 1.9% in December 2012.
The data release followed claims that Perth was among the country’s most expensive capital cities to rent a house, according to Australian Property Monitors, <a target="_blank" href="https://www.propertyobserver.com.au/landlords/darwin-s-%24690-weekly-rental-tops-national-median-weekly-asking-rents-apm/2013071163177">who gave the median advertised asking rent for houses in Perth at $490 per week, just $10 below Sydney's $500</a>.
APM’s June quarter rental market report suggested record levels of immigration into Perth from eastern states when there hadn’t been much building prompted the shift.
Perth was the only capital city in the country to secure growth in both house and apartment rents during the June quarter, according to APM which hd house rents up 14% and units up 13.3% in the past year.
But REIWA data for the three months to May put the Perth median rent at $475 per week. This was up by just $5 on the March quarter and was generated solely byunits and apartments as house rents didn’t shift.
REIWA says rental listings are 10% up over the June quarter at 53% higher than the same time last year.
"The data from our members across the metropolitan area put the median rental for houses at $480 per week and units at $455 per week.
"But of course that means that half of all rental properties on the market are under that price, as the median is the middle point in the market.”
Mr Airey expects to see a softening in rents for the second half of this year because of a slowing economy and strong first homebuyer activity.
“Our mining based economy and associated jobs is not as strong as it was last year.
"Separate to that, the significant number of first home buyers means that many tenants are leaving the rental system for a mortgage, thereby freeing-up more stock back into the rental system,” Mr Airey said.
He also went on to say that the real estate agents had noticed a significant drop in the level of enquiries they were getting for rental accommodation and that long queues of prospective tenants at home-opens had disappeared.
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REIWA says Perth rental tightness not as APM claims

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Nakheel, the Dubai property development company and builder of artificial islands of the United Arab Emirates coast, has reported a climb in profit.
Their profit climbed 57% as buyers have re-emerged in the sheikhdom’s long-troubled real estate market.
Nakheel’s revenue rose 36% to 4.23 billion dirhams, according to Arabianbusiness.com. Its net income rose to 1.2 billion dirhams ($360million) from 767 million dirhams a year earlier.
Nakheel anticipates generating $1 billion from new projects and sale of land.
The state-owned property group was bailed out by the Dubai government in 2009 after the GFC belatedly hit Dubai causing a severe crash in the property market.
Nakheel was then headed by Chris O’Donnell, the Australian who was its chief executive for five years.
After his GFC-induced dismissal he won a $3.7 million legal battle after filing a breach of contract lawsuit with the Dubai World Tribunal against his former company.
O’Donnell had hit the headlines during the property boom in the UAE given he oversaw the major projects including The World and Palm Jumeriah.
The World that is about 300 islands formed together to look like the world from the air,  created off the coast of Dubai.
Palm Jumeirah was launched in 2001 as one man-made island in the shape of its palm tree cultural icon.
Since last September, O’Donnell has been president of Nakheel rival property developer, Al Futtaim Real Estate Group (Afreg) whose major property is the Dubai Festival City.
Afreg is the property development and operations arm of Al Futtaim Group which was established in the 1930s initially as a trading company.
Al Futtaim is structured into operational divisions including automotive, engineering, electronics and technology, retail, financial services, education, real estate and construction.
Al Futtaim operates across the UAE, Bahrain, Kuwait, Qatar, Oman, Egypt, Saudi Arabia, Sri Lanka, Syria, Pakistan, Singapore, Malaysia and Europe.
Before heading to Dubai, O’Donnell had held the managing director position at Investa Property Group.
 
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Dubai's Nakheel back to profit

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Over the May quarter, regional property markets including Queensland country, SA country, Tasmania country and the Northern Territory recorded growth in values.

But Victorian country, NSW country and WA country all experienced a decrease within the market, according to Residex.
The worst preforming area within Australia was Western NSW. The capital growth of the last quarter was a negative 9.79% with a median house price of $150,000.
Next behind was the NSW area of Charleville houses where the last quarter’s capital growth was a negative 7.21% with a median house price of $253,500.
The top five performing growth areas over the quarter within the Australian states and territories (in order) are:
<img height="37" width="30" src="/images/stories/2013/07/houserules1.jpg" alt="houserules1">Tasmania country units was the top performing where capital growth over the last quarter grew 6.51% and the median value of houses was $203,000.
<img height="32" width="30" src="/images/stories/2013/07/houserules2.jpg" alt="houserules2">Mount Tambourine houses, Qld experienced capital growth over the last quarter of 5.40%, with median house prices being $467,000.
<img height="39" width="30" src="/images/stories/2013/07/houserules3.jpg" alt="houserules3">Launceston houses, Tasmania where capital growth over the last quarter was 5.40% and the median value for houses was $270,000.
<img height="38" width="30" src="/images/stories/2013/07/houserules4.jpg" alt="houserules4">Portland houses, Victoria had capital growth of 4.26% over the last quarter where median house prices are $212,000.
<img height="40" width="30" src="/images/stories/2013/07/houserules5.jpg" alt="houserules5">South-east South Australia houses had capital growth over the last quarter at 3.99% and the median house price was $287,000.
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Top 5 regional property markets over May quarter: Residex

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Costco is set to open up it’s <img alt="7one" height="40" width="30" src="/images/stories/2013/07/7one.jpg">th store in Australia in Sydney's Marsden Park.
The US retailer is buying into Sydney Business Park joining IKEA, Bunnings and Masters at the Richmond Road site.
Cotco has secured a 59,830 square metre site (pictured below).
<img alt="costcojuly4one" height="313" width="470" src="/images/stories/2013/07/costcojuly4one.jpg">
<img alt="costcojuly4two" height="329" width="470" src="/images/stories/2013/07/costcojuly4two.jpg">
The Marsden Park Development is 551 hectares rezoned in 2010.
Costco has opened three stores,  <img alt="houserules1" height="37" width="30" src="/images/stories/2013/07/houserules1.jpg"> at Melbourne’s Docklands in 2009, <img alt="houserules2" height="32" width="30" src="/images/stories/2013/07/houserules2.jpg">at Auburn in NSW and <img alt="houserules3" height="39" width="30" src="/images/stories/2013/07/houserules3.jpg"> at Canberra Airport.
There are a further three to be opened in <img src="/images/stories/2013/07/houserules4.jpg" width="30" height="38" alt="houserules4"> Ringwood (VIC), <img src="/images/stories/2013/07/houserules5.jpg" width="30" height="40" alt="houserules5"> Cross Roads (NSW) and <img src="/images/stories/2013/07/houserules6.jpg" width="30" height="38" alt="houserules6">North Lakes (QLD), in the coming year.
The Marsden Park precinct will undergo a $102 million upgrade, where the NSW state government will fund the majority of the capital needed for the upgrade.
According to the NSW state government Planning and Infrastructure webpage, the preinct  has the potential to provide 10,000 jobs and 1,200 homes for the growing northwest of Sydney.
Once the site is developed 70 hectares of commercial land will be present, along with 40 hectares of bulky good retailing, 206 hectares of industrial land and 63 hectares of conservation land and open space along with housing nearby the development to accommodate the population.
The site is located 40 kilometres northwest of Sydney's CBD.
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Costco is set to open up its seventh store in Australia in Sydney's Marsden Park

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Mt Buller, the premier ski resort of the Victorian alpine region, has around 96 properties currently listed for sale.
The array of properties that suit investors and owner occupiers start from $205,000 up to $1,625,000.
By comparison to <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/victoria/falls-creek-offerings-from-%2435000-to-%2414-million/2013062762749?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=victoria" target="_blank">Falls Creek</a> and Mt. Hotham, the least expensive of Mt Buller sits well above the least expensive of both Falls Creek’s $35,000 and Mt. Hotham’s $79,000.
Mt Buller is referred to as the Bondi Beach of the ski slopes, given its winter popularity.
Mt. Buller is within a three-hour scenic drive from Melbourne, just 248-kilometres distance.
It offers more than 80 kilometres of ski and board trails that are marked from the northern and southern slopes, where 20% are beginner, 45% intermediate and 35% advanced.
One of the sales since last season was 347 Chamois Road. Comprising four bedrooms, three bathrooms and one car spot, it sold for $980,000 through John H Castran.
It comprised of four bedrooms, three bathrooms and one car spot.
Grollo Group, the property tourism Investment group, developed and owned the Chalet Hotel (pictured below), which has 68 apartments. At the end of the ski season in 2012, some 22 out of 24 were sold off to individual buyers for a total combined price upwards of $4 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/06/mtbullerjune28one.jpg" alt="mtbullerjune28one" width="470" height="323">
One of the sales after the auction was the Chalet Hotel’s penthouse, which sold for about $1 million.
Currently there are three apartments listed in the Chalet Hotel on realestate.com.au.
A two bedroom, one bathroom apartment located on level four is listed at $320,000, the cheapest of the three.
In March 2012, this same apartment 402 was listed with a $365,000 asking price.
Located on level eight, there is a two bedroom, one bathroom apartment listed at $395,000 furnished. The 801 Chalet Hotel apartment was initially listed in November 2012 at $420,000.
The most expensive of the three listed in the Chalet Hotel is a three bedroom, two bathroom and one car space at $850,000, located on level seven.
The cheapest offering at Mt Buller is a one bedroom and one bathroom Breathtaker apartment which can accommodate four people. This apartment is listed at $205,000.
With the most expensive listing is at 234 Summit Road. Its priced at $1,625,000 furnished. It contains three bedrooms, two bathrooms and two car spaces. The 4/234 Summit Road apartment is offered for the first time, in which is a sustainably built home offers a luxurious living lifestyle on the slopes of Mt. Buller.
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Mt Buller's current listings range from $205,000 up to $1,625,000

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There are about 65 Falls Creek properties listed for sale on the realestate.com.au portal, as the Victorian alpine ski resort 2013 ski season gets into gear.
Set around 4.5 hours from Melbourne, the properties listed on realestate.com.au range from $35,000 to $1.4 million.
The ski location's median apartment price in April was $346,700, according to RP Data.
The cheapest $35,000 offering sits within Morry Schwartz’s development, Silverski.
Suggesting there has been little price appreciation for the Silverski studios, the <a href="https://www.realestate.com.au/property-studio-vic-falls+creek-113110019" target="_blank">112 and 113 apartments</a> (pictured below) sold for $30,000 in 2011 when Schwartz offloaded his entire mountain holdings.
{yoogallery src=[images/stories/2013/06/june27silverski]}
Now they are re-listed with a $35,000 asking price each.
Christa Zirknitzer, from RT Edgar Alpine Bright, said recently that 112 and 113 were "expected to fetch the asking price." The Silverski 112 and 113 are currently under offer. 

She told Property Observer that “there has been some market growth where the majority are regular home/apartment buyers and not investors”.
Of the 77 Falls Creek apartments developed and sold by Morry Schwartz, 15 of them have been re-listed for sale since the owners bought them back in 2011.
His offerings were with no reserve price.
A <a href="https://www.realestate.com.au/property-alpine-vic-falls+creek-113222843" target="_blank">studio apartment</a> (pictured below) with a kitchenette and spa bath is listed with $149,000 hopes.
{yoogallery src=[images/stories/2013/06/june27bogong]}
The studio apartment is part of a complex that includes a restaurant, swimming pool and a sauna.
Christa Zirknitzer sold six properties that were recently listed from the Schwarz development fetching between $120,000 - $125,000.
Originally sold at the August 2011, apartment 301 of the Huski Development, another of Schwarz’s developments, been re-listed at $575,000.
The most recent sales - dating from around January this year - were in the St Falls East complex when  apartments <a href="https://www.realestate.com.au/property-apartment-vic-falls+creek-111929675">604 and 406 St Falls East</a> were sold. Both sold after lenghty time on the market. 
Apartment 604 was sold at an undisclosed price, but only after the asking price was adjusted to $380,000 down from $495,000 where it was on the market for 200 plus days.

It contains two bedrooms and two bathrooms with a balcony and an outdoor entertaining area.

Apartment 406 in St Falls East was sold at an undisclosed price having been listed at $250,000 for the one bedroom and one bathroom offering.

Located 356 kilometres, Falls Creek has a range of runs - 17% are beginner, 60% are intermediate and 23% advanced.
There are also 15 lifts to take skiers to these runs.
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Falls Creek offerings from $35,000 to $1.4 million

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

Joel Robinson

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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."

[smartcode_project:default project_id=151449 project_image_fid=357463]

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

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>.

[smartcode_project_cta:default project_id=151449]

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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<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.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Sam Sabbatucci

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