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I have been asked by a number of our industry members if REIA intends to make a statement or provide direction in regards to Corona Virus.
I don't intend to make any comment about what precautions you, your employees and your families should take. The best advice to follow is that being provided by local, state and federal health authorities. Obviously, care should be taken in the workplace which also extends to open homes, auctions, corporate travel and the like.
Representing the real estate industry, I attended a large gathering of business and government people in Sydney last night. Rest assured the necessary precautions were being taken. Corona Virus was obviously the main topic of conversation and it was abundantly clear the situation is yet to truly unfold in Australia.
With this in mind, we should be aware of what impact the virus will have on our property markets across the country. It is more likely our markets will be affected by reduced consumer sentiment than the actual virus itself. I am already hearing of many stories whereby potential vendors are deciding not to sell at this time, preferring to wait until things normalise.
Whilst such a notion is completely understandable, it doesn't make sense as we all know it is better to sell in a market with less competition and I have no doubt that our buyers will continue to purchase regardless of how the seller may be feeling. I suspect any reduced consumer sentiment is likely to be magnified in the larger cities than in regional parts of Australia, just as the nonsensical rush to buy toilet paper has been.
I have no doubt that once this situation is managed and under control our markets will return to normality just as they did after the bushfires earlier in the year.
If REIA receives any messages from government to be disseminated to the property industry we will do so. Aside from that, let's continue to follow the advice of the health experts and keep ourselves, friends and families safe.
ADRIAN KELLY is the REIA President
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j.ballantyne1990-6AQqhLzZaK

Coronavirus may exacerbate current sellers market: REIA's Adrian Kelly

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GUEST OBSERVATION
Working from home is already so common it has its own acronym, and it’s about to get even more common still. Companies <a href="https://www.inc.com/bill-murphy-jr/amazon-microsoft-apple-google-twitter-work-from-home-stanford-study" target="_blank">like Apple, Amazon and Microsoft</a> are now advising employees to “WFH” to avoid exposure to the novel coronavirus.
But working from home can be a real challenge for employees who find themselves doing it for the first time. To address this concern, many employees are turning to digital solutions to help them interact with colleagues and stay productive away from the office.
Here are some tech options for three styles of work: formal meetings, informal discussions, and team projects. But none of them, as we shall see, is without drawbacks. 
Formal meetings
The first question on most people’s minds is how to conduct meetings with colleagues or clients. One of the most common answers is <a href="https://zoom.us">Zoom</a>, a video communication platform that combines conferencing, online meetings, chat and mobile collaboration.
Zoom is widely used as an online substitute for formal meetings, and last week its <a href="https://www.nasdaq.com/articles/stock-alert%3A-zoom-video-communications-rises-12-2020-03-05">share price surged by 12%</a> in anticipation that cornavirus quarantines will see it adopted even more widely. Among the platform’s selling-points are its ease of use, and ability to stream presentations as well as host meetings.
But while digital solutions like Zoom offer useful way for colleagues to meet, they are arguably less satisfactory for interacting with customers. Research <a href="https://www.washingtonpost.com/sf/brand-connect/hilton/the-science-of-being-there/">suggests</a> that online meetings fail to deliver the same feelings of connection and empathy, compared with a face-to-face meeting.
Informal discussions
While video conferencing is useful for formal meetings, it is less appropriate for informal chats, brief queries or rapid status updates, such as “have you sent that invoice yet?”. This task is more suited to instant messaging platforms or group chat apps.
A common tactic is to use Facebook messenger, WhatsApp or gchat. But these can be distracting and intrusive, particularly at high volumes, causing workers to lose focus and concentration.
Many companies have instead adopted <a href="https://slack.com/intl/en-au/">Slack</a> and <a href="https://products.office.com/en-au/microsoft-teams/group-chat-software">Microsoft Teams</a>, which offer instant communication without the distraction of social media. IBM has reportedly adopted Slack for <a href="https://www.businessinsider.com/ibm-slack-partnership-customer-digital-transformation-2020-2?r=AU&amp;IR=T">all of its 350,000 employees</a>. And Slack has reportedly <a href="https://edition.cnn.com/world/live-news/coronavirus-outbreak-03-06-20-intl-hnk/h_c28cf284cc1589e8947c08c270570731">asked its own employees</a> to work from home in response to the coronavirus outbreak, prompting wisecracks on social media about how they will stay in touch with one another.
But while these channels are great for zapping quick messages between team members, it can be hard to build real rapport. Research shows that being <a href="https://hbr.org/2015/09/how-to-build-the-social-ties-you-need-at-work">authentic, realistic and making time</a> with colleagues is a more natural way to build effective work relationships, and this is hard to do purely online.
Team projects
So much for meetings and chats – what about actual project management? Two options already in widespread use are <a href="https://www.google.com/drive/">Google Drive</a> and <a href="https://onedrive.live.com/about/en-au/">Microsoft One Drive</a>, which allow people to upload documents to the cloud and collaborate on them in real time.
These two platforms have already become the industry standard for sharing documents. But (and you may be sensing a theme here), sometimes team discussions require face-to-face conversations or brainstorms, which can <a href="https://hbr.org/2015/04/collaborating-online-is-sometimes-better-than-face-to-face">challenging to replicate in a purely online environment</a>.
There’s no doubt that the coronavirus has struck at a time when we have more digital options than ever before, giving a wider range of employees the opportunity to work from home with minimal disruption.
But it’s also undeniable that people still need face-to-face interactions for companies to function at their best. The likes of Zoom, Slack and Google Drive will likely see an uptick in use during the epidemic, but once it’s over they should be considered complementary solutions rather than substitutions.<img src="https://counter.theconversation.com/content/133350/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/geoffrey-mann-713012">Geoffrey Mann</a>, Sessional Lecturer, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/working-at-home-to-avoid-coronavirus-this-tech-lets-you-almost-replicate-the-office-133350">original article</a>.
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Working at home to avoid coronavirus, almost replicating the office

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Data released today from the Australian Bureau of Statistics (ABS) has revealed that home loan demand surged in January 2020.
The total value of loans to owner-occupiers rose 6.1% over the month of January, while the total value of loans to investors rose 3.6% over the month.
Mortgage Choice Chief Executive Officer Susan Mitchell said, "The latest data from the ABS shows that the nation's housing market kicked off 2020 with a bang, continuing the turnaround in the second half of 2019."
"The strong growth across both owner-occupiers and investor borrowers was larger than expected. Heightened borrowing activity suggests that the ongoing growth in dwelling values is likely to persist for some time yet."
"Indeed, the latest figures from CoreLogic reveal that national dwelling values surged by 1.1% over February, with values across five of the nation's eight capital cities reaching a record-high."
"Extremely attractive home loan interest rates and more relaxed lender policy may be fuelling investor demand. We are seeing competitive pricing on longer-term fixed rate home loan products, with some lenders offering rates below 3%, which is unprecedented.
"While we can only speculate on the outlook of investors going forward, the uncertainty in both the domestic and global economy may be encouraging consumers to invest their money in stable asset classes. As the expression would suggest, investors may be choosing to park their funds in property, which is safe as houses.
"Only time will tell if the momentum will continue long-term. As the global and domestic economic outlook faces significant headwinds, property investors may park their buying plans.
Looking to the future, Ms Mitchell said while there is some uncertainty ahead, demand for property is likely to remain robust.
"Interest rates have fallen to new historic lows and may fall even further in coming months. As such, now may be a good time for buyers hoping to take advantage of competitive home loan deals to discuss their options with their local mortgage broker," concluded Ms Mitchell.
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Home loan demand surged in January

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The High Court of Australia HAS published its reasons for judgment allowing ASIC’s appeal from the Supreme Court of Queensland on the question of whether Michael King, the former CEO and executive director of MFS Ltd (also known as Octaviar Ltd), was an “officer” as defined in s 9 of the Corporations Act 2001(Cth) of MFS Investment Management Pty Ltd (MFSIM). 
At the relevant time, MFS Ltd was the parent company of the MFS Group of companies (MFS Group). 
MFSIM was a subsidiary in the MFS Group and acted as a responsible entity for several registered managed investment schemes, the largest of which was the Premium Income Fund (PIF). 
The court unanimously held that Michael Christodoulou King was an “officer” as defined by s 9(b)(ii) of the Act because the provision is not limited to those who hold or occupy a named office in a corporation or a recognised position with rights and duties attached to it. 
The factual findings of the primary judge that Mr King acted as the “overall boss of the MFS Group” and assumed “overall responsibility for MFSIM” were sufficient to establish that Mr King had the capacity to affect significantly the financial standing of MFSIM.
ASIC Commissioner John Price said, ‘ASIC notes today's High Court decision, which sends a clear signal to anyone running a company – in name or in effect – that they should be responsible and held accountable for their actions.’ 
‘It provides clear guidance on who is an "officer" of a corporation and establishes that the duties and responsibilities to a company, its creditors and shareholders under the Act will apply to individuals who have the capacity to significantly affect the financial standing of a company,’ Commissioner Price said.  
‘The finding that Mr King was an officer of the subsidiary MFSIM, marks the conclusion of long-running litigation which commenced in 2009 and demonstrates ASIC's commitment to pursuing difficult, long-running actions in the public interest.’
The appeal arose from civil penalty proceedings commenced by ASIC against officers and a fund manager of MFSIM in connection with the misappropriation of $147.5 million held by PIF on behalf of unit holders.  The misappropriated funds were used to pay debts owed by other entities in the MFS Group.
The appeal was unanimously allowed by Kiefel CJ, Gageler, Keane, Nettle and Gordon JJ. 
In the joint judgment handed down by Kiefel CJ, Gageler and Keane JJ, their Honours stated:  
“If the CEO of the parent company of a group of companies is allowed to act in relation to other companies in the group untrammelled by the duties that attach to officers of each of the other companies in the group, shareholders and creditors would be left exposed to an obvious risk. It would be an extraordinary state of affairs if those who actually determine the course of a company's financial affairs could avoid responsibility for their conduct by the simple expedient of deliberately eschewing any formal designation of their responsibilities. This is especially so in the present case,… to provide protection to members of managed investment schemes by imposing duties and responsibilities on the officers of responsible entities.” 
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ASIC wins MFS-Octaviar appeal in High Court

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Sorrento’s Continental Hotel is back on the market, with with receivers having taken over the landmark property after repeated issues with its $100 million redevelopment.
Justice Almond of the Supreme Court of Victoria has ruled to end the Mornington Peninsula building's previous contract of sale, releasing the deposit paid by the previous purchaser to Manda Capital Holdings Pty Ltd, the first mortgage.
The 145-year-old, heritage, four-storey limestone building is the heart of the Sorrento community and has for years languished in disrepair. 
The hotel had been plagued with issues since <a href="/news/julian-gerner-to-develop-sorrentos-continental-hotel">Continental Development director Julian Gerner bought </a>it in<a href="/expert-insights/investing/sorrentos-continental-hotel-for-sale"> 2015</a>. Mr Gerner underwent a myriad of contractual issues and a failed partnership with defunct developer Steller Group. 
However, as of Wednesday, the contractual issues dogging the redevelopment of the Continental Hotel have been <a href="https://www.realestate.com.au/news/continental-hotel-sorrento-back-on-the-market/?pid=article-page%7Csource:news:article-page-bottom" target="_blank">resolved,</a> freeing up the historic landmark for a much needed revamp.
Petr Vrsecky, partner at PKF Melbourne and a receiver appointed by Manda, said the Continental Hotel is “on the market again and a “clean proposition”.
“We are pleased and relieved the matter has been brought to a head, and that we can now move forward with the sale of such an illustrious property,” he said.
“The previous contract of sale is at an end, and we welcome all expressions of interest through Colliers Real Estate.”
A historic landmark established in 1875 under the directorship of comedian, politician, philanthropist and businessman George Coppin (1819-1906), the Continental Hotel is an architecturally significant building that has been constructed in a Victorian Italianate style using locally quarried limestone.
Developed in response to the overwhelming demand for accommodation for city tourists seeking a holiday at the then growing seaside resort of Sorrento, the hotel is a great opportunity for anyone seeking to continue the tradition of an iconic venue serving one of the most prestigious and cosmopolitan communities in Victoria, all within walking distance to pristine beaches.
While it has since undergone various changes, it remains an undisputed gem of the seaside Sorrento community, situated on a prominent site at the entry to the town, and a fantastic opportunity for the right owner.
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Sorrento's Continental Hotel is back on the market after $100 million redevelopment failure

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ASIC has permanently banned Mark Goldenberg from engaging in any credit activities.
He is also banned from performing any function involved in the engaging in of credit activities (including as an officer (within the meaning of the Corporations Act 2001), manager, employee, contractor or in some other capacity).
Goldenberg was the Chief Operating Officer, General Manager, Property Analyst and sole shareholder of Superfunded Pty Ltd (Superfunded).
Superfunded operated an illegal early access to superannuation scheme in Perth, enabling people to use their superannuation savings to buy a home.
Mr Goldenberg and Superfunded engaged in credit activities but neither he, nor Superfunded, held an Australian credit licence, or were authorised credit representatives of an Australian credit licensee.
ASIC found that Mr Goldenberg contravened credit legislation and had been involved in a contravention of credit legislation. ASIC also found that it has reason to believe that Mr Goldenberg is not a fit and proper person to engage in credit activities as he does not possess the attributes necessary for engaging in credit activities.
As a result of Mr Goldenberg’s conduct and ASIC’s finding that it has reason to believe that Mr Goldenberg is not a fit and proper person to engage in credit activities, ASIC determined that Mr Goldenberg is likely to contravene credit legislation.
The banning order for Mr Goldenberg has been recorded on ASIC’s publicly available Banned and Disqualified Persons Register. 
Mr Goldenberg has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
The banning of Mr Mark Goldenberg follows an ASIC investigation into Superfunded.
Further ASIC action includes an application to the Federal Court, resulting in the winding up and appointment of a Liquidator to Superfunded on 12 March 2018.
ASIC had previously obtained a range of interim injunctions in the Perth Federal Court on 9 November 2017 against Superfunded, Mr Mark Goldenberg and Mr Max David Goldenberg, the sole director of Superfunded.
ASIC banned Mr Max Goldenberg from providing financial services and engaging in credit activities for a period of eight years on 8 August 2019.
Mr Mark Travis Goldenberg was permanently banned from providing financial services in May 2009.
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ASIC bans Perth's Mark Goldenberg from credit activities

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A Menangle home has been listed by My Property Consultants agents Greg Copeland and Tony Giouzelis with a $3,450,000 asking price. 
The <a href="https://www.realestate.com.au/property-house-nsw-menangle-132532178" target="_blank">Hawkey Road property</a> is comprised of three main buildings, with a heated in-ground pool with travertine surroundings at its centre. 
The five-bedroom, three-bathroom home features a fully self-contained granny flat with timber floors, split system air conditioning, private verandah, as well as a separate triple garage with loft, cellar, kitchenette, and bathroom that has multi-purpose potential. 
At the centre of these two blocks is the main three-bedroom double-brick residence which features wrap around verandahs and an open fireplace. 
The 27.52 hectares property also has two water tanks, a dam, bore water, and an enviro-cycle.
The DA approved sub-dividable land offers opportunities for improvements. 
The property was last sold in 2014 for $1.2 million. 
<a href="https://www.realestate.com.au/property/85-hawkey-rd-menangle-nsw-2568" target="_blank">Realestate.com.au </a>reports that the most recent five-bedroom, three-bathroom house was sold at 454 Menangle Road for $1,250,000 in May 2019. 
 
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Homestead on Menangle acreage listed for sale

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Australians under 25 lost over $5 million to scams in 2019 and reports made from this age group are increasing faster than older generations, according to the ACCC
In 2019, around 12,000 (7.15 per cent) reports made to Scamwatch were from people under the age of 25, an increase of 11 per cent compared to 2018 figures. Reports from this age group increased by 10 percentage points more than any other age group.
“Scammers don’t discriminate based on age and the wide range of scams reported by this age group is concerning,” ACCC Deputy Chair Delia Rickard said.
“Young people may think they are tech savvy, but scammers are adapting and we expect to see more scams on newer platforms such as Snapchat and TikTok.”
Facebook and Instagram were the most common platforms for reports and losses by those under 25, with typical scams on these platforms involving fake online stores or the sale of fake tickets to events.
Online shopping scams were the most common scams, making up more than 14 per cent of reports and almost 12 per cent of losses among people under 25.
“Almost half of the losses to people under 25 occurred through bank transfer but you should also be wary of sellers asking for payment through unusual payment methods such as gift cards or bitcoin,” Ms Rickard said.
Scammers can also target children who play online video games, such as Fortnite, by offering unlocked achievements or special items in exchange for money or gift card codes without ever transferring the item.
“By targeting children, scammers could obtain personal and banking information from the individual’s parents,” Ms Rickard said.
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Gen Z sees fastest growing number of scam victims: ACCC

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A Red Hill trophy home has sold for $8 million breaking the long held Canberra sale price record.
The record was actually set by the neighboring holding which sold for $7.2 million in 2010.
Woodleigh, the Mugga Way property was sold by Lynlea and Clive Rodger who'd bought the home in 2000 for $2 million. 
Built in 1980, the house sits on 7,963 sqm block.
The five bedroom, four bathroom estate has hosted the Open Gardens scheme and many musical events on its sweeping front lawns.
It was initially listed in spring 2018.
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The two storey house has about 508 sqm of internal floor space, plus a tennis court, pool, and koi pond, among other features.
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Red Hill trophy home sale breaks decade long Canberra record

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Australian property group TOGA and partner Danias Group, have had their Marrickville development application for Wicks Place approved.

It will be the first residential project in the transformation of the Victoria Road Precinct. 
Wicks Place will deliver 272 apartments across five buildings with boutique retail, commercial spaces, and direct access to the adjacent Wicks Park.

The development will feature a range of one, two and three-bedroom apartments with extra-large terraces, green spaces and a private communal outdoor area on level one.

Wicks Place is anchored by a 2,500 sqm public precinct on the ground floor which will include a mix of retail and commercial spaces, 
CEO of Danias Holdings, Angelo Angelopoulos said, “the site provides seamless connectivity with a variety of transport options, including close proximity to the new metropolitan train line, Sydenham Station and the Victoria Road bus corridor. " 
Construction will commence in August 2020, and Wicks Place is set to be complete by late 2022. 
The Wicks Place display suite will open on 14 March 2020

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 See More: New apartments in inner-city Sydney

[smartcode_project:default project_id=5811]

[smartcode_project:default project_id=25281]
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New Wicks Place development approved for Marrickville 

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.

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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."

[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>.

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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."

[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.

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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;

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<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;

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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.

Staff reporter

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