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<p class="legacy">EXPERT OBSERVATION </p>
<p>Australia’s three-decade run of near continuous economic growth is set to end, with treasury warning of a hit to growth of “at least” 0.5% in the first quarter of this year, potentially followed by a “prolonged downturn”.</p>
<p>If it came to pass, treasury’s preliminary assessment would most likely mean economic growth vanished and went backwards for several quarters, producing what is commonly known as a “<a href="https://www.smh.com.au/politics/federal/the-really-lucky-country-talk-of-recession-as-australia-takes-world-record-20170601-gwiiwl" target="_blank">technical recession</a>” – two quarters or more in which income and spending shrink.</p>
<p>Providing the <a href="https://treasury.gov.au/speech/opening-statement-march-2020-senate-estimates" target="_blank">assessment</a> to a Senate estimates committee on Thursday morning, treasury secretary Steven Kennedy said the COVID-19 coronavirus would take “at least half a percentage point” from economic growth during the current March quarter and more beyond that.</p>
<p>In recent quarters economic growth has been about half a percentage point.</p>
<p><strong>Quarterly GDP growth</strong></p>
<p><a href="https://images.theconversation.com/files/318783/original/file-20200305-127918-160glbr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318783/original/file-20200305-127918-160glbr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a></p>
<p>Treasury’s preliminary estimate of a hit of at least half a per cent took into account only the direct impacts of the virus on tourism and education, and some exchange rate effects.</p>
<p>It did not take into account broader economic effects or the impact of the coronavirus on supply chains.</p>
<p>The half a percentage point hit to growth would come on top of a hit of 0.2% from the summer bushfires, most of which would be felt in the March quarter.</p>
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<p><em> <strong> Read more: <a href="https://theconversation.com/support-package-gains-shape-as-gdp-turning-point-swamped-132969">Support package gains shape as GDP turning point swamped</a> </strong> </em></p>
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<p>Dr Kennedy, a former nurse who retrained as an economist, stressed that the impact of the bushfires would extend well beyond the immediate hit to economic growth.</p>
<p>“Evidence from past episodes suggest bushfires can lead to long-lasting physical and mental health effects and destroy cultural heritage,” he said.</p>
<p>“Research by the University of Melbourne after the Black Saturday bushfires in 2009 found mental health problems continued for three to four years.”</p>
<p>The bushfires made clear the increased probability of such events in a world of climate change.</p>
<p>“The CSIRO predicts climate change will make bushfires more likely, as fire weather patterns worsen as a result of an increase in weather patterns with hot and dry winds and fuel becoming drier.”</p>
<p>Deeper, wider and longer lasting than SARS</p>
<p>As of Wednesday there had been 91,868 confirmed COVID-19 cases worldwide and 3,131 deaths, most in China. COVID-19 had spread to 77 countries.</p>
<p>When the virus first emerged in China in December, the treasury saw it through the lens of the 2002-04 Severe Acute Respiratory Syndrome (SARS) pandemic.</p>
<p>It was now clear COVID-19 would be different.</p>
<p><em>The impact of SARS took on a V shape, a relatively contained reduction in activity, mostly in Asia, followed by a quick bounce back.</em></p>
<p><em>The economic impact of COVID-19 is likely to be deeper, wider and longer when compared with SARS.</em></p>
<p><em>It will create more risk of a prolonged downturn, and fiscal support will be needed to accelerate the recovery of the economy, especially once the health and health management effects of COVID-19 begin to fade.</em></p>
<p>The first phase of the economic support package to be delivered next week would target assistance to the businesses and sectors most affected in order to keep people in jobs.</p>
<p>After that, support for aggregate demand (overall spending) would become more important.</p>
<p>“A very substantial part of the impact is actually confidence among consumers and the business sector because of the uncertainty,” Dr Kennedy said.</p>
<p>“Frankly, effective health management will be very important. The economy is actually quite solid. One of the key things will be to to explain to the community how well placed the economy is to manage such a short-term shock.”</p>
<p>The shock would last for some time but the economy would “recover on the other side”.</p>
<p>Keeping workers employed would be very important.<img src="https://counter.theconversation.com/content/133053/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;"><em></em></p>
<p><em><a href="https://theconversation.com/profiles/peter-martin-682709">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a></em></p>
<p><em>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/economic-growth-near-an-end-as-treasury-talks-of-prolonged-coronavirus-downturn-133053">original article</a>.</em></p>
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j.ballantyne1990-6AQqhLzZaK

Economic growth nearing an end as Treasury talks of prolonged coronavirus downturn: ANU's Peter Martin

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<p>A Cranbourne West, Victoria mortgagee home has sold under the hammer for $473,500 early this march.</p>
<p>It came with a price guide of $460,000 to $500,000.</p>
<p>Darren Saxon of LJ Hooker is marketing the four bedroom, two bathroom property</p>
<p>Situated at <a href="https://www.realestate.com.au/property-house-vic-cranbourne+west-132964834" target="_blank">28 Bellbrae Crescent</a>, the home last sold for $330,000 in 2013 a making a loss on it's previous sale.</p>
<p>It sold for $365,000 in 2011.</p>
<p>Set on 641 sqm, the listing describes the home as a "fantastic first home or investment."</p>
<p><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a></p>
<p>The median price for a house in <a href="/developments/cranbourne-west-vic-3977">Cranbourne West</a> is $516,277, according to CoreLogic data.</p>
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Cranbourne West, Victoria mortgagee home sold at auction

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<p>A Gosnells, West Australia home listed a mortgagee sale for $250,000 is now under offer following an unusuccessful two year campaign.</p>
<p>Originally listed for <span>$399,000 to $439,000 during the 2017-2019 marketing campaign, it is now being offered for $250,000.</span></p>
<p><span>Rick Rispoli of LJ Hooker is marketing the three bedroo, two bathroom house.</span></p>
<p><span>Situated at </span><a href="https://www.realestate.com.au/property-house-wa-gosnells-132472226" target="_blank">22A Bert Street</a>, the home last sold for $380,000 in 2015.</p>
<p>Set on 935 sqm, the listing described the home as "suited for the savvy investor/developer" as it is zoned <span>R30/R40.</span></p>
<p>Built in 1956, the home was listed as a rental seeking $220/pw in 2018.</p>
<p><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a></p>
<p>The median price for a house in <a href="/developments/gosnells-wa-6110">Gosnells</a> is $276,000, according to CoreLogic data.</p>
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Gosnells, WA mortgagee home listed for $130,000 reduction in value under offer

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<p>In 2019, the Sunshine Coast property market was a tale of two halves, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes that the first half of 2019 saw a slow down on the back of the slowing Sydney and Melbourne markets, the effects of the banking royal commission and the lead up to the federal election in May.</p>
<p>Move ahead a few months and all these concerns appeared to be turned around. An election result perceived by the market to be favourable, improvement in the Sydney and Melbourne markets and passing effects of the Banking Royal Commission all led to an injection of confidence. The end of 2019 finished very well.</p>
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<p><span>"As always, the first quarter will be a good indicator on how the year will unfold. Should the Sydney and Melbourne markets continue to perform well, this will be a good sign for the coast market. </span></p>
<p><span>"Unfortunately, like 2019, 2020 has the dark cloud of not one but two elections looming. The local government election is set down for the end of March and the state election set for the end of October. Uncertainty always presents a challenge to the market," the valuation firm stated. </span></p>
<p><span>The report notes coastal areas with proximity to the beach are always highly sought after. The coast lifestyle is a major driving factor and there is no reason this will not continue. The coastal strip from Noosa to Caloundra in the sub-$800,000 price range is expected to continue to be in demand.</span></p>
<p><span>A beachfront three bedroom apartment in Caloundra was sold for $870,000 in February. </span></p>
<p>The apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-caloundra-132489390" target="_blank">415/10 Leeding Terrace </a>(pictured below) located right on Bulcock Beach. </p>
<p><span>It comes with master bedroom with ensuite, two bathrooms and two car spaces.</span></p>
<p><span><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/2020/3/9/caloundra%202.jpg" alt=""></span></p>
<p><span>"It is expected that the larger estates of Aura located to the south of Caloundra and the Harmony </span>Estate at Palmview will continue to generate good interest from both owner-occupiers and investors.</p>
<p>"We also expect to see good interest in the hinterland subdivisions in the railway townships such as Habitat in Palmwoods, with larger land sizes being the driver," the valuation firm said. </p>
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<p><span>There are a number of unit complexes under construction with some due for completion this year. </span></p>
<p><span>"From what we have seen, the majority of interest is in owner-occupier style units and complexes that directly target this market are going well. Smaller, investment grade units have been lagging, especially if they suffer from high body corporate fees making it difficult to make a return. The established unit product is also influenced by this," the valuation firm said. </span></p>
<p><span>The prestige markets across the coast have been operating at a number of different speeds. </span></p>
<p><span>The areas in and around Caloundra to the south and Mooloolaba and Maroochydore to the central parts of the coast have been turning over and have been pretty steady with some good prices. The headline continues to be the Noosa Heads region on the northern coast, which finished </span>off the year well with some record prices being recorded.</p>
<p>"An example of this is the recent sale of <a href="https://www.realestate.com.au/sold/property-unit-qld-noosa+heads-131831462" target="_blank">a Hastings Street beachfront unit, Unit 6, Noosa Court</a> (pictured below) for $9 million or $37,500 per square metre and this wasn’t even the best unit in the complex!</p>
<p><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/2020/3/9/noosa%20heads.jpg" alt=""></p>
<p>"We have initial reports of a beachfront unit that is under contract for circa $42,000 per square metre. This market is heavily influenced by the Sydney and Melbourne markets, so the improved confidence there has helped as well as ex-pat and international buyers becoming more active on the back of the weak Aussie dollar," the valuation firm said. </p>
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<p><span>The report notes the good news stories continue to be the considerable infrastructure projects underway that should attract new investment to the coast. </span></p>
<p><span>The Maroochydore CBD and Sunshine Coast Airport expansions have been moving along with the Sunshine Coast International Broadband Submarine Cable project dovetailing in beautifully. Providing Australia’s fastest telecommunications connection to Asia and the second fastest to the United States is an unbelievable opportunity for a regional centre.</span></p>
<p><span>"2020 is still expected to see some good activity across the residential market. Will it be as strong as 2019 is anyone’s guess given the two looming elections. There is one thing for certain - the Sunshine Coast appears to be positioned well for the future." </span></p>
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Sunshine Coast infrastructure projects continues attracting investors in 2020: HTW residential

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<p><span>As the Rockhampton and surrounding residential markets enter 2020, there is a feeling of optimism and increased confidence for the year ahead, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span> The report notes the close of 2019 saw increased sales activity, shorter selling periods and a firming of sale prices. In particular, well maintained and well-presented owner-occupied homes in sought-after suburbs have been leading the charge.</span></p>
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<p><span>Many agents are reporting a shortage of listings due to having sold the majority of their stock. For the first time in many years, buyers are feeling the pinch with stories emerging of some now starting to miss out on their first choice of homes.</span></p>
<p><span>"Vacancy rates reduced dramatically throughout the course of 2019 and are currently very tight. This has resulted in an increase in rents which we anticipate will hold firm during 2020," the valuation firm said. </span></p>
<p><span>"So, you ask, what’s driving the change?</span></p>
<p><span>"Well, we are now seeing significant government infrastructure projects coming to fruition, particularly Main Roads committing to major upgrades including the Gracemere duplication, Parkhurst corridor and of course the Rockhampton Ring Road which is now in the early stages of planning and resumption," the valuation firm said. </span></p>
<p><span>This combined with </span>a surprise federal election result in May 2019 gave Central Queensland a boost in confidence, particularly in the resource and mining sectors which have largely experienced improvements in production, and created new jobs throughout the latter half of 2019.</p>
<p><span>"In summary, all the key components are there for what should be a positive year ahead with firming conditions predicted in what is shaping up to be a recovery year for the region. After all, it has to be said that the past seven to eight years have largely been disappointing from a property and economic perspective." </span></p>
<p><span>A riverfront apartment in Rockhampton City has recently been sold for $650,000.</span></p>
<p>The three bedroom, two bathroom apartment is located at <a href="https://www.realestate.com.au/sold/property-unit-qld-rockhampton+city-132219102" target="_blank">901/58 Victoria Parade</a> (pictured below). </p>
<p><span>It features large balcony, stone kitchen and allocated two car basement parking. </span></p>
<p><span><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/2020/3/9/rockhampton%202.jpg" alt=""></span></p>
<p> </p>
<p><span>A current listing is a West Rockhampton three bedroom house priced at $350,000.</span></p>
<p>Located at<a href="https://www.realestate.com.au/property-house-qld-west+rockhampton-132806430" target="_blank"> 52 Pennycruick Street</a> (pictured below), the house comprises 3 bedrooms, open plan living and entertaining patio.</p>
<p><span>Other features include hardwood timber floors, ceiling fans and 3 street frontages. </span></p>
<p><span><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/2020/3/9/west%20rockhampton.jpg" alt=""></span></p>
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Rockhampton property market to recover in 2020: HTW residential 

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<p><span>Given the positive final quarter of 2019, the central Gold Coast area is anticipated to remain fairly buoyant throughout the first half of 2020, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>ask their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes sales activity spiked during September and October 2019 and local agents have reported that good levels of demand continued throughout holiday period for a broad range of property.</span></p>
<p><span>The stable market conditions in the Sydney and Melbourne property markets along with the low interest rate environment and easing of lending policy has given confidence to local buyers, particularly those seeking to purchase property priced in the higher price brackets. </span></p>
<p><span>"Burleigh Heads and Burleigh Waters remain hot spots, however more recently we have noticed good sales activity in the suburbs of Miami and in Sorrento (Bundall)," the valuation firm said. </span></p>
<p><span>A two bedroom beach styled dimples in Miami has recently been sold for $670,000.</span></p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-miami-125810922" target="_blank">2/10 Cantwell Court </a>(pictured below), it comes renovated bath and kitchen, indoor and outdoor living space and backyard. </p>
<p><span>Set on a 372sqm block, the house is only 900m away from Miami beach. </span></p>
<p><span><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/2020/3/9/miami%20.jpg" alt=""></span></p>
<p><span>The report notes it will be interesting to see how property will perform within the Isle of Capri (Surfers Paradise) over the year. </span></p>
<p><span>The Isle of Capri is regarded as one of the preferred residential waterfront areas within the established areas of the central Gold Coast, being within close proximity to the Surfers Paradise CBD. </span></p>
<p><span>A fairly large infrastructure project (road bridge upgrade) has commenced which aims to improve traffic flow through the locality (to and from the CBD area). The expected completion of the project according to local council is mid 2021.</span></p>
<p> </p>
<p><span>In </span>the meantime, residents are likely to be disrupted by the project due to increased traffic congestion caused by the ongoing road works.</p>
<p>"We will wait to see if the project has any significant impact on property sales in this pocket," the valuation firm stated. </p>
<p>A waterfront house in Isle of Capri was sold for $4.5 million in January. </p>
<p>The four bedroom, three bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-isle+of+capri-132828586" target="_blank">25 The Corso </a>(pictured below).</p>
<p>The home comes with indoor and outdoor living space, swimming pool, open plan gourmet kitchen and four car garage.</p>
<p><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/2020/3/9/isle%20of%20capri.jpg" alt=""></p>
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<p><span>The unit market may experience slightly tougher conditions in 2020 compared with 2019, according to the HTW residential report. </span>This market (particularly within Surfers Paradise and Broadbeach) is heavily reliant on investors from interstate and overseas.</p>
<p><span>With a good volume of new unit stock introduced in 2019 and more high density projects due to be completed this year on the central Gold Coast, there is some concern about a potential oversupply in this area. </span></p>
<p><span>"On a more positive note, general feedback from local real estate agencies suggests that demand for rental properties has remained firm and rental values are trending upwards," the valuation firm said. </span></p>
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Central Gold Coast market to remain buoyant in the early 2020: HTW residential 

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<p>Recent research conducted by Knight Frank's partner and head of research, Michelle Ciesielski observes a shift in the narrative from downsizing to rightsizing due to changes in the lifestyle trend towards apartment living.</p>
<h2>Trends to Monitor</h2>
<p>The 'Australian Prime Residential Insight 2020' outlines some of the trends that are expected to influence the rightsizer prime luxury market in the coming years. </p>
<h2>1. 'Active Retired' Transforming the Retiree Lifestyle</h2>
<p><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/2020/2/3/14_Active%20Retired%20Group.jpg" alt=""></p>
<p>Unlike past generations, the 'Active Retired' group hold a passport with many stamps, they are educated, willing to engage in smart technology and encouraged the change in definition for their next home purchase to 'rightsize' rather than 'downsize'. </p>
<h2>2. Baby Boomer Voice Growing </h2>
<p><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/2020/2/3/14_Baby%20Boomers.jpg" alt=""></p>
<p>The baby boomer group comprised 23.5 per cent of the Australian population in 2016, growing from 21.7 per cent five years earlier. </p>
<p>In 2020, the youngest baby boomer turns 56 years old and the oldest turns 74 years old. </p>
<h2>3. Under-Supplied Prime Suburbs</h2>
<p>The portion of three-bedroom and above dwellings due for completion by 2022 is increasing to 71 per cent in medium density, and to 18 per cent for high-density dwellings. </p>
<p>The next trend to watch is the total number of dwellings being completed with 47 per cent less medium-density dwellings due between 2020 and 22, compared to 2017 and 2019, and 30 per cent less being built as high-density dwellings. </p>
<h2>4. Collaborate, Community, Belonging </h2>
<p><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/2020/2/3/14_Collaborate.jpg" alt=""></p>
<p>More emphasis on creating agile collaborative zones within the amenities to ensure they carry significance to the residents and can be adapted for alternate uses at other times of the day. </p>
<h2>5. Clever Spaces</h2>
<p><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/2020/2/3/14_Crown%20Residences%202.jpg" alt=""></p>
<p>Source: <span>Crown Residences at </span><span><a href="https://onebarangaroo.com.au" target="_blank"><span>One Barangaroo</span></a></span></p>
<p>Drawing inspiration from the most exclusive hotels and residences from around the world will continue to nurture the redesign of luxury apartments and allow residents to be more agile and minimise ineffective space. </p>
<h2>6. Rise in Lateral Living </h2>
<p><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/2020/2/3/14_Lateral%20Spaces.jpg" alt=""></p>
<p>Source: Liverpool/ <a href="https://www.lateralestate.com/libertytower" target="_blank">Lateral Estate</a>.</p>
<p>Buyers are prepared to pay a premium for a lateral apartment, designed to span the entire floorplate offering the closest replica of a freestanding house in the sky, although with absolute privacy. </p>
<p>It can enable the most resilient security, with direct lift access, from the secured basement carpark, to the single-leveled residence. </p>
<h2>7. More Branded Residences</h2>
<p>With rapid expansion of over 400<a href="https://content.knightfrank.com/research/1617/documents/en/global-branded-residences-2019-5874.pdf" target="_blank"> branded residences</a> globally, a growing number of developers and hotel groups are looking to capitalise on this opportunity in Australia.</p>
<p><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/2020/2/3/14_branded%20residence.jpg" alt=""></p>
<p>Source: Branded Residence Report 2019/ <a href="https://content.knightfrank.com/research/1617/documents/en/global-branded-residences-2019-5874.pdf" target="_blank">Knight Frank.</a></p>
<p>A branded residence is traditionally a hotel-led development with integrated or linked residences. For instance, <a href="https://iconprivateresidences.com/category/luxury-developments/four-seasons" target="_blank">Four Seasons</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/aman" target="_blank">Aman</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/ritz-carlton" target="_blank">Ritz-Carlton</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/mandarin-oriental" target="_blank">Mandarin Oriental</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/oneonly" target="_blank">One&amp;Only Resorts</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/rosewood" target="_blank">Rosewood</a><span> and </span><a href="https://iconprivateresidences.com/category/luxury-developments/six-senses" target="_blank">Six Senses</a><span> are among the most active in the segment, others have aligned with luxury brands as diverse as Versace, Porsche and Armani.</span></p>
<p>They naturally benefit from the quality hotel brand, smooth management and luxury services. </p>
<h2>8. A Small World</h2>
<p><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/2020/2/3/14_Small%20World%20Qantas.jpg" alt=""></p>
<p>Source: 'Qantas flew non-stop from London to Sydney in less than 20 hours'/ <a href="https://www.qantas.com/travelinsider/en/trending/london-sydney-non-stop-long-haul-qantas-flight-project-sunrise" target="_blank">Qantas</a>.</p>
<p>Qantas tested its new 19-hour nonstop flight from London to Sydney in late 2019. This may be operational by 2022. </p>
<p>Improved connectivity has potential to reshape the second home market. This could result in an increased competition with offshore buyers, and encourage rebalancing property portfolios with Australians likely to buy more second homes abroad. </p>
<h2>9. Reducing space and footprint</h2>
<p><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/3_StockBreakouts/house-in-hands-july-31-brekaout.jpg" alt=""></p>
<p>More buyers and developers are becoming increasingly aware of the carbon footprint they leave behind for future generations. </p>
<p>This was revealed in the recent research conducted by Stockland Research. It was predicted that Australians have <span>a strong desire for more social connectivity and sustainable home features becoming standard.</span></p>
<p>Read more: <a href="/news/how-will-australians-live-over-the-next-decade-stockland-research">'How will Australians live over the next decade, Stockland Research'</a></p>
<p>They are committing to better sustainability practices and design for apartment living. </p>
<p> </p>
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Rightsizer prime luxury market trends to lookout for: Knight Frank

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<p><span>Recent s</span><span>tudies indicate that one in five Australians currently live in a multi-generational household.</span></p>
<p><span>Research also show that the trend is on the rise. While this was once the norm in many households, where the young help care for the older generation, the custom of multi-generational homes experienced a downturn in past decades.</span></p>
<p><span>There’s a strong trend towards multi-generational living, particularly in Sydney and its surrounds, where property prices continue to rise. And it’s happening in a couple of different ways with young people staying home longer, older generations sharing, and people looking for affordable investment opportunities.</span></p>
<p><span><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/2020/2/3/15_Multigenerational.jpg" alt=""></span></p>
<p>Dr Edgar Liu from UNSW’s City Futures Research Centre and author of '<a href="https://cityfutures.be.unsw.edu.au/research/projects/living-together-the-rise-of-multigenerational-households-in-australian-cities/" target="_blank">Living Together: The rise of multigenerational households in Australian cities</a>'<em>, </em>says research has found that more than half of people living in this arrangement do so due to financial reasons, while others do it for companionship.</p>
<p><span>Social contact is known to have positive benefits for both physical and mental health. Social interaction with others builds valuable relationships and gives us a deeper sense of belonging.</span></p>
<p><span>Leading home builder ANSA Homes has noted this trend and now offers a number of designs that</span><span> can be configured to be two homes under one roof, and even three homes under one roof.</span></p>
<p><span>ANSA Homes </span><span>Founder and Managing Director, Mark Maloney says “</span><span>there can be negatives if the actual dwelling isn’t suitable for multi-generational living like lack of privacy, noise transference, clashing of schedules in kitchens and bathrooms, lack of space and lack of independence.</span></p>
<p><span>“And while it would be great to able to build a separate granny flat in the backyard there often isn’t space for this option. We’re seeing a growing demand for new home designs that can accommodate several generations in their own private areas.</span></p>
<p><span>“We work closely with all our clients to understand the needs of the family and design a solution that suits the individual family. We believe it’s really important to understand that you don’t have to live in each other's pockets and the home can be independent.</span></p>
<p><span>“This trend also goes hand-in-hand with the trend towards knocking down an existing home and rebuilding. It </span><span>means you get to stay in the same neighbourhood but build a brand new home to suit the needs of all family members,” added Maloney.</span></p>
<p><span>Established suburbs often have larger blocks of land than the new outer suburbs making them ideal to build a large home that will accommodation several generations under one roof. And by pooling the family’s housing costs it becomes a very affordable option.</span></p>
<p><span>ANSA Homes has 14 multi-generational living designs that can be adapted to your needs with a house and granny flat in one.</span></p>
<p>An example of a multi-generational home is <a href="https://ansahomes.com.au/home-designs/house-and-granny-flat/lellah-39/" target="_blank">Lellah 39</a> where there is a total of six-bedrooms including a self-contained studio.</p>
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One in five Australians live in multi-generational households

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<p>A Nunawading warehouse office was sold by CVA's Jarrod Moran and Stan Dawidowski on February 26, 2020.</p>
<p>Located just off Whitehorse Road’s ‘Golden Mile’, the <a href="https://www.realestate.com.au/property/42-metropolitan-ave-nunawading-vic-3131" target="_blank">Metropolitan Avenue propert</a>y sold for $980,000 which far exceeded vendor expectations.</p>
<p>The four-week campaign attracted more than 65 enquiries with over 40 auction attendees and 7 bidders battling it out for this rare street fronting industrial facility.</p>
<p><span>The subject property comprises 283 sqm total floor area inclusive of 183 sqm high clearance warehouse with motorised roller door access, 100 sqm two level open plan air-conditioned office plus four allocated on site car spaces.</span></p>
<p><span>The warehouse last sold in 2016 for $750,000. </span></p>
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Warehouse office sold under the hammer in 'Golden Mile' precinct

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<p>A joint initiative of the Property Investment Professionals of Australia (PIPA) and CoreLogic has revealed the best performing locations for average annual capital growth in every city over the past decade.</p>
<p><span>The CoreLogic research found the city location with the highest annual capital growth in the nation over the past decade was Lakemba in the Canterbury region of Sydney, where house prices have increased by 8.4 per cent annually. Its median house value has more than doubled over the period to now be about $881,000.</span></p>
<p><span>The second place-getter was also in Sydney, this time in the Oatlands-Dundas Valley region of Carlingford, where house values grew by an average 8.1 per cent each year over the past decade. Its median house value has soared from $662,000 to $1.41 million over the past decade, according to the data.</span></p>
<p><span>Rounding out the top three, on 7.9 per cent annual average growth over 10 years, was Rockbank-</span><span>Mount Cottrell in Melbourne’s west </span><span>where its median house value has increased to nearly $600,000.</span></p>
<p><span>PIPA chairman Peter Koulizos said the national results showed a mix of affordable and prestige suburbs had performed well over the period.</span></p>
<p><span>However, the research also showed that locations within markets that were deemed subdued continued to record robust house value growth, he said.</span></p>
<p><span>“Even though Adelaide only recorded average annual growth of 1.3 per cent </span><span>over the past decade, its top performing location of Prospect saw prices increase by 3.4 per year </span><span>over the period,” Mr Koulizos said.</span></p>
<p><span>“L</span><span>ikewise, in Darwin, where prices reduced on average 1.9 per cent annually, in Rosebery-Bellamack median house values increased by 3.2 per cent at the same time.</span></p>
<p><span>“</span><span>This is actually quite common, because there are submarkets within markets which operate to the beat of their own drums, usually because of consistently strong demand from buyers keen to live or invest </span><span>in those locations.”</span></p>
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<p><span>The CoreLogic research also found that Sydney recorded the highest average annual capital growth over the decade at 5.5 per cent, followed by Melbourne on 4.9 per cent and Hobart on 3.4 per cent.</span></p>
</div>
</div>
<table>
<colgroup>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>City location</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>State</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Average annual 10-year growth</span></p>
</div>
</div>
</td>
</tr>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Sydney</span></p>
</div>
</div>
</td>
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<div class="column">
<p><span>NSW</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>5.5%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Melbourne</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/0bc4b37d-2c82-49a7-9547-f42d67b0cec7" alt="page2image7120560" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>VIC</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>4.9%</span></p>
</div>
</div>
</td>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Brisbane</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>QLD</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1.3%</span></p>
</div>
</div>
</td>
</tr>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Adelaide</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>SA</span></p>
</div>
</div>
<img src="blob:https://www.urban.com.au/b4ef0a80-cbca-4dce-b872-3d581956a50b" alt="page2image7118320" width="34.680000" height="0.480010">
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1.5%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Perth</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>WA</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>-1.4%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Hobart</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/02c28a48-d80d-4008-8255-fd93ccc24120" alt="page2image7118544" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>TAS</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>3.4%</span></p>
</div>
</div>
</td>
</tr>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Darwin</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/8de548a5-d64c-49b4-91f8-8ae9d20c2c7b" alt="page2image7130080" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>NT</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>-1.9%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Australian Capital Territory</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/6142c85e-8244-4a52-b03a-a2ed6e76ec25" alt="page2image7127392" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>ACT</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>2.8%</span></p>
</div>
</div>
</td>
</tr>
</tbody>
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<div class="layoutArea">
<div class="column">
<p><span>Source: Corelogic.com.au</span></p>
<p><span>“The other capital cities recorded less than stellar average housing value growth </span><span>rates over the past decade,</span><span>” Mr Koulizos said.</span></p>
<p><span>“Annual growth of between 1.3 per cent to 2.8 per cent over the past decade </span><span>is part of the reason why so many investors and property investment experts are eyeing Brisbane, Adelaide and Canberra as potentially having the best capital growth prospects over the next 10-year period.</span><span>”</span></p>
<p><span>Darwin and Perth recorded negative annual growth over the period at -1.9 per cent and -1.4 per cent respectively, according to the research.</span></p>
<p><span>“</span><span>Investing in the housing market is typically a long-term strategy. Short-term movements are less important than the longer-term trends, which typically see housing values moving through a cycle where values will rise, fall and track sideways,</span><span>” </span><span>CoreLogic Head of Research Tim Lawless said.</span></p>
<p><span>“</span><span>The past 10 years has seen areas of Sydney and Melbourne outperform most other markets thanks to strong economic conditions and high rates of migration, which has fuelled housing demand, however, such high rates of capital gain have eroded housing affordability and compressed rental yields.</span><span>”</span></p>
<p><span>Mr Lawless said investors were likely to find that over the next 10 years the best performing markets are quite different.</span></p>
<p><span>“</span><span>Just as they were over the earlier decade where, for example, mining regions and regional coastal markets where some of the strongest performing areas,</span><span>” </span><span>he said.</span></p>
<p><span><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/2020/3/4/CoreLogic.jpg" alt=""><br></span></p>
<p><em>Source: CoreLogic.com.au </em></p>
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Best performing suburbs over the past decade: PIPA & CoreLogic

<p>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.</p>

<p>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.</p>

<p>A new Colliers report, <em>Brisbane 2032 Olympic and Paralympic Games: Creating Solutions</em>, 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.</p>

<p>The broader construction pipeline paints an even clearer picture.</p>

<p>Construction Skills Queensland's <em>Horizon 2032</em> 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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=373834]</p>

<p>Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.</p>

<p>"From 2027 onwards, the market will shift dramatically," Scriven said.</p>

<p>"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."</p>

<p>Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.</p>

<p>"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."</p>

<p>[smartcode_project:default project_id=150713 project_image_fid=373827]</p>

<p>Developers are already positioning themselves ahead of that window.</p>

<p>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.</p>

<p>Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.</p>

<p>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.</p>

<p>Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.</p>

<p>"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.</p>

<p>"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."</p>


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

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357458]</p>

<p>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.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357463]</p>

<p>Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.</p>

<p>Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357469]</p>

<p>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.</p>

<p>"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.</p>

<p>"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."</p>

<p>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>.</p>

<p>[smartcode_project_cta:default project_id=151449]</p>


Sherpa sells out Flourish Oasis in booming Palm Beach

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=368645]</p>

<p>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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=358802]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=364551]</p>

<p><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.</p>

<p>Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.</p>

<p>"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.</p>

<p>Following completion of the building later this year, buyers will move into their apartments well before Christmas.</p>

<p>[smartcode_project_cta:default project_id=134951]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Just 17 of the original 36 dual key apartments remain available.</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=367096]</p>

<p>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;</p>

<p>The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363511]</p>

<p><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;</p>

<p>“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;</p>

<p>“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.</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363509]</p>

<p>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;</p>

<p>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.</p>

<p><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;</p>

<p>“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;</p>

<p>“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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363515]</p>

<p>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;</p>

<p>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.</p>

<p>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;</p>

<p>Erwin said the dual key concept represented a broader shift in how Australians would live in the future.</p>

<p>“People want homes that can evolve with their lives,” he said.&nbsp;</p>

<p>“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.”</p>

<p>Prices currently range from $2,115,750 to $2,583,000.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=135546]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”</p>

<p>Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.</p>

<p>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.</p>

<p>He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>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."</p>

<p>The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>"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.</p>

<p>"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."</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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