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<p>A dainty five-bedroom, three-bathroom Surrey Hills hpouse, just off tree-lined, sold recently at auction.</p>
<p>The Wells Street property, with weatherboard facade, was sold by Woodards estate agents Maria Xu and Richard Kurz for $2.95 million. </p>
<p>The 780 sqm home with architecturally designed renovations and extensions, features landscaped gardens at the front.</p>
<p>Insidxe there's wide Woodcut engineered flooring and grand entry hall with a clay beaded chandelier. </p>
<p>The split level home has a front formal lounge with colonial windows which can be used as a sitting room, a kids' play area, or even a fifth bedroom. </p>
<p>The central living zone with northern orientation spills into the family room that has a gas stone fireplace, and dining zone with four-metre hight ceilings. </p>
<p>The kitchen is the centrepiece of the home which is fitted with Calacatta Ors porcelain bench tops, Franke dual sink, and premium stainless steel appliances including double AEG ovens and an Asko dishwasher. </p>
<p>The master ensuite bedroom is situated on the top floor and has a dressing room and private balcony. Meanwhile, the spacious guest bedroom is on the lower level with easy access to a sleek bathroom. The other two bedrooms come with built-in robes, double vanity central bathroom which has floor-to-ceiling tiling, a freestanding bath, standout laundry with a drying room, ducted heating, refrigerated cooling, plush carpet and Calacatta marble.</p>
<p>There are three dedicated outdoor areas including a large garden at the rear with grass space and bluestone paving, an entertaining area accessed via stacker doors from the living zone, and the sizeable front porch and garden.</p>
<p>The property was last sold in 2016 for $1,850,000, and first bought in 1979 for £37,000. </p>
<p>The most recent five-bedroom house sold on Queen Street was for $3,720,000 in November 2019. </p>
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Dainty Victorian family home in Surrey Hills sold

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<p>A Paddington period terrace with views across the city skyline has hit the market. </p>
<p>The four bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-terrace-nsw-paddington-132913750" target="_blank">8 Jersey Road</a>. </p>
<p>It comes with living area with fireplace, additional family/media room at rear, and marble kitchen.</p>
<p>Other highlights include courtgarden, ample storage, and rear lane access via Tivoli Street into single car space. </p>
<p>The home is close to Oxford Street, CBD/Bondi Junction bound buses and quality schools. </p>
<p>It has been scheduled to go under the hammer on February 29. </p>
<p>Mark Lowe and Clint Ballard, of Ballard Property Group Double Bay, listed the property. </p>
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Paddington period terrace with city views set for auction 

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<p>EXPERT OBSERVER</p>
<p>In 1988 the Australian Bureau of Statistics (ABS) projected a population of 25 million by 2050. Australia reached that estimate 30 years earlier. Our population grew by more than 400,000 in 2018-19, and the ABS now projects a population of 30 million by 2030.</p>
<p>At this growth rate, Australia will need to house an additional 16.8 million residents in the next 40 years. This is the equivalent of a new city the size of Canberra every year for the next 40 years – or a city the size of Darwin every 12 weeks.</p>
<p>Mike provides recommendations to governments and urban developers building sustainable cities that will avoid putting further strain on our existing capital cities, maintain our standard of living and health, provide local jobs, make housing attainable for every generation, save water and create safe streets for pedestrians and cyclists.</p>
<p><strong>Mike’s 7 recommendations to building new cities that will ease the squeeze:</strong></p>
<p><em>1.</em> Locate new cities between Sydney and Melbourne. Mike says now is the time to think about potential sites for new cities. For instance, eight could be built along the Sydney-to-Melbourne high-speed rail service that is being considered by government. Connecting the two cities provides an opportunity to promote the ‘twin cities’ of Melbourne and Sydney, considered by many as the world’s most liveable and beautiful cities.</p>
<p><em>2.</em> Build ‘urban’ cities from the start. Mike says new cities must be medium- to high-density from the outset, be connected within by sustainable forms of transport and offer local jobs. A specific rapid mixed use, walkable, urban city model is being advocated to Federal and State Governments by Consolidated Land and Rail Australia (CLARA) – a private group RobertsDay is assisting – which is offering solutions to re-balance Australia’s existing settlement and deliver new ways of planning and building liveable, sustainable, connected cities, transport and infrastructure.</p>
<p><em>3.</em> De-centralise jobs. Mike says most land uses can now happily co-exist. However, any new cities that we build will require multiple ‘outer-suburb mixed use urban centres with mixed-use retail, commercial and residential areas that are transit-based, compact and walkable. This will ensure short commute times and avoid putting pressure on transport systems and roads. Mike says our existing cities – especially Sydney and Melbourne, where the cost of commuting and housing attainability is a major problem – would also benefit from additional outer-suburb mixed use urban centres.</p>
<p><em>4.</em> Create low-water-use outdoor community spaces. Grass requires a lot of water. With water levels expected to be a major long-term issue, Mike says cities can better manage water usage by developing courtyard-style housing, and European-style outdoor community spaces (much like piazzas) that are water-wise through the use of materials such as pea gravel to replace turf and drought-tolerate plant species such as olive trees.</p>
<p><em>5.</em> Build water-wise, medium-density homes. NSW planning minister Rob Stokes is pushing for more medium-density housing in the State. This will bring residents multiple benefits. Townhouses and courtyard homes, with their turf-free outdoor spaces, will result in a significant reduction in water usage. In contrast to apartment complexes, townhouses and terraces provide individual street frontages, allowing residents to feel connected to their neighbourhoods. If townhouses are designed like the successful terrace models in Sydney, Melbourne, Vancouver, Seattle and Toronto, homeowners will be able to capitalise on their properties by building 40 sqm granny flats above their garages.</p>
<p><em>6.</em> Recognise walking and cycling as the privileged modes of transport. Townhouse communities can be designed with small streets at their rear providing access to garages. This minimises garages and driveways at the front of properties, enabling uninterrupted walking and cycling along tree-lined street frontages. This will improve safety and quality of life for pedestrians and cyclists. Imagine kids being able to safely walk to school again!</p>
<p><em>7.</em> Strive to embrace the UN’s Sustainable Development Goals. All 193 United Nations member countries have adopted the 17 UN Sustainable Development Goals (SDGs), to be achieved by 2030. These SDGs envisage the delivery of sustainable cities and neighbourhoods, protecting the planet and ensuring prosperity for all. Mike says that the bushfires have raised our awareness internationally, and that we need to act on them now. The Federal Government, State Government and the urban development industry need to more comprehensively action the SDGs.</p>
<p><strong>MIKE DAY </strong><em>is one of Australia’s best-known urban planners and designers, the co-founder and director of <a href="https://www.robertsday.com.au/people/mike-day/" target="_blank">RobertsDay</a> and a fellow of the Planning Institute of Australia </em></p>
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Australia needs to build a new 'Canberra' every year: Mike Day

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<p><span>Starting off the new year with the right market </span>conditions, there are a handful of locations that have indicated strong growth potential this year in the south- eastern regions of Melbourne, according to the latest Herron Todd White (HTW) residential report. </p>

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<p><span>The report suggests one of the suburbs to look out for is Officer. </span></p>

<p><span>Located approximately 50 kilometres south-east of the central business district and situated between Pakenham and Berwick, Officer has become one of the fastest growing<br>
suburbs in the outer south-eastern growth corridor.</span></p>

<p><span>"Officer stands to be one of the best suburbs to invest in for 2020, where the median house price is $549,000 and the gross yield is 3.8 percent.</span></p>

<p><span>"With affordable house and land packages combined with low interest rates, government incentives and looser loan serviceability tests, these new estates are perfect for those looking to purchase their first home or migrating families who are looking to make Melbourne their home for the first time," the valuation firm said. </span></p>

<p><span>[smartcode_project:default project_id=31283]</span></p>

<p><span>A four bedroom house in Officer has recently been sold for $610,000.</span></p>

<p>The four bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-officer-132746354" target="_blank">13 Zoe Lane</a> (pictured below).</p>

<p><span>It features open plan family room, formal lounge, modern kitchen and decked outdoor space. </span></p>

<p><span>The house is situated within walking distance to the cafe, future town centre and new medical centre. </span></p>

<p><span><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/officer%20.jpg"></span></p>

<p>A current listing in Officer is a four bedroom brick veneer house priced at $540,000 to$580,000.</p>

<p>Situated at <a href="https://www.realestate.com.au/property-house-vic-officer-131691118" target="_blank">58 Millicent Parade</a> (pictured below), the home comprises four bedrooms, two separate entertaining areas, and kitchen with walk in pantry. </p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/officer%202.jpg"></p>

<p>Other features include wall to wall carpets, tiled wet areas and landscaped front and rear gardens. </p>
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Melbourne's Officer - one of the best suburbs to invest in for 2020: HTW residential 

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<p><span>The property market has shone in the past seven years showing extraordinary growth in property prices in the northern suburbs of Melbourne, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes last year’s property market results ended on a high note as we saw </span>the fastest turnaround in history, with improving prices and clearance rates leading into the new year of 2020.</p>
<p>With property values rising, sellers are expected to cautiously return to the market, increasing stock levels.</p>
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<p><span>"So, what do we know moving forward into 2020? We can be assured that the Reserve Bank’s main focus will be to decrease unemployment rates and to increase wages, which will likely result in interest rates falling further throughout the year, making </span>it even more affordable to enter the market," the valuation firm said. </p>
<p>This trend could see an upside in developing areas such as Craigieburn, Kalkallo and Mickleham, which may prove to be the only truly affordable option for the inner and outer northern suburbs.</p>
<p><span>"By offering properties at affordable prices, these areas may still be the choice for migrating families moving to Melbourne or country Victorians wanting to move closer to Melbourne," the valuation firm said. </span></p>
<p><span>A Craigieburn three bedroom house has been sold for $570,000.</span></p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-132823606" target="_blank">32 Newlyn Drive </a>(pictured below).</p>
<p><span>Set on 650sqm, the home comes with well-appointed kitchen, meals area, and pergola overlooking backyard. </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/2020/2/24/craigeburn.jpg" alt=""></span></p>
<p><span>Areas in the desirable suburbs of the inner north such as Abbotsford, Carlton and Richmond should expect to see moderate to low stock on the market.</span></p>
<p><span>The report notes blue chip properties that tick all the boxes will continue to perform in 2020.</span></p>
<p><span>"Low vacancy rates will also be evident in these areas with vacant dwellings being snapped up either by investors or renters," the valuation firm said. </span></p>
<p>A Richmond Victorian house has recently been sold for $1.67 million. </p>
<p>The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-richmond-132848686" target="_blank">10 Moorhouse Street</a> (pictured below). </p>
<p>It comes with open plan living, north facing courtyard and spacious kitchen. </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/2020/2/24/richmond%20.jpg" alt=""></p>
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Desirable Melbourne inner north suburbs to see low vacancy rates in 2020: HTW residential 

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<div class="column">Over the past few years, Melbourne CBD has witnessed an influx in supply of new apartments, according to the latest Herron Todd White (HTW) residential report. </div>
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<div class="column">The report suggests 2020 should see demand for Melbourne apartments remain steady as approvals for new residential developments hit a peak in 2017 and have since slowed down.</div>
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<div class="column">Most of these developments have been high density and located in the northern grid of the CBD.</div>
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<div class="column">"A slowdown in the residential development sector could slow the apartment supply, resulting in a boost in demand for rental properties due to strong migration and appeal of Melbourne to international and interstate higher education students and workers relocating closer to the business district, which has continually encouraged strong rental growth and helped maintain current rental returns for these CBD and inner city apartments," the valuation firm said. </div>
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<div class="column">A two bedroom apartment in Melbourne CBD has been listed for rent with a price guide of $700 per week.</div>
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<div class="column">The two bedroom, two bathroom apartment is situated at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-424612982" target="_blank">502/9-23 MacKenzie Street </a>(pictured below). </div>
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<div class="column">It comes with open plan living, design kitchen and terrace balcony. </div>
<div class="column"><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/2020/2/24/melbourne%20cbd.jpg" alt=""></div>
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<p><span>The report notes that one of the biggest struggles in the market is settlement for off-the-plan apartments. </span></p>
<p><span>It is proving a significant challenge for developers with many of the major lenders tightening or altering their lending policies to foreign investors or contracts subject to the Foreign Investment Review Board resulting in longer than normal settlement periods and further exacerbating settlement risk.</span></p>
<p><span>"New developments within city fringe suburbs such as South Yarra, Richmond, St Kilda, Abbotsford and Collingwood are contributing to this concern of oversupply. </span></p>
<p><span>"Demand will need to remain strong if supply is to be matched over the medium term." </span></p>
<p><span>A St Kilda one bedroom apartment has recently been sold for $406,000.</span></p>
<p>The 4th floor apartment is situated at <a href="https://www.realestate.com.au/sold/property-apartment-vic-st+kilda-132835810" target="_blank">408A/33 Inkerman Street</a> (pictured below).</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/2020/2/24/st%20kilda%20.jpg" alt=""></p>
<p><span>It features open plan living and dining, designer kitchen, alfresco balcony and bedroom with fitted BIRs. </span></p>
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Demand for Melbourne CBD apartments to remain steady in 2020: HTW residential 

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<p><span>2019 started in the doldrums and finished on a high with record sales across a number of suburbs in Newcastle, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked their </span>valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes records sales tend not to happen in a falling or subdued market.</span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-bar+beach-131859426" target="_blank">16 Bar Beach Avenue, Bar Beach</a> (pictured below) sold for $5.525 million towards the end of 2019 and set the record in Newcastle for a single residential holding.</p>
<p><span>This eclipsed the $5.51 million paid at the beginning of 2019 for 40 Kilgour Avenue, Merewether.</span></p>
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<p><a href="https://www.realestate.com.au/sold/property-house-nsw-merewether-131281662" target="_blank">21 Flowerdale Drive, Merewether Heights </a>(pictured below) sold for $2.18 million with settlement due in the first quarter of 2020.</p>
<p><span>This property saw strong interest after a significant media campaign and is a record for the Merewether Heights location.</span></p>
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<p><span>So with the backdrop of a resurgent market and most agents reporting increased interest across the board, 2020 starts with a whiff of optimism (and at the time of writing, a fair waft of smoke). </span></p>
<p><span>The same could not be said for Newcastle and the Hunter 12 months prior in January 2019. </span></p>
<p><span>This time last year, pessimism abounded. </span></p>
<p><span>"How long this current resurgence lasts or whether it can be knocked off course easily is yet to be seen. </span>Our prediction is that it can’t be as strong as the last uptick (2012 to 2017), which was unprecedented for the area with massive increases across the board in all property sectors," the valuation firm said. </p>
<p><span>“Part-time psychologist hat being reached for and placed on head at a jaunty angle” warning.<br></span></p>
<p><span>"If we were to hazard a guess, it would be fair to say that we are at an interesting juncture in the market," the valuation firm said. </span></p>
<p><span>The recent boom is fresh in the minds of all property investors and professionals. </span></p>
<p><span>When the boom finished, many who either missed the boat or didn’t fully capitalise will have made promises to themselves that next time the ship sets off, they would get up that gangplank sharpish (or whatever it is they board ships with these days; with our smarts, we have probably moved past planks). </span></p>
<p><span>"We suspect that the recent gains in the market locally are born from the fear of missing out a second time. That’s a powerful driver in any market." </span></p>
<p><span>2020 is set to be a pivotal year in our future with a number of events all converging to a point where something monumental is likely to happen. </span></p>
<p><span>"We have US elections winding up like a coiled spring, ever-growing awareness of and focus on climate action and China testing out sovereign nations’ resolve across the globe. </span>Any of these have the ability to derail or boost the economy like nothing has for a decade or more," the valuation firm noted. </p>
<p>And Newcastle and the Hunter is like a bug hanging on for grim death to the windscreen, being buffeted by headwinds as speed quickly escalates, whilst simultaneously trying to avoid the jet of water shot fair up the caboose followed by the wiper of death.</p>
<p>"We are at the mercy of things bigger and more complex than us." </p>
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Newcastle market resurgence yet to be seen in 2020: HTW residential 

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<p style="text-align: left;" align="center">Melbourne CBD’s premier retail thoroughfare Swanston Street will offer the first test of the market for 2020, with a family offering for sale a building it has held for 70 years.</p>
<p>CBRE’s Melbourne City Sales team have been appointed to market 273 Swanston Street, which is set to <span>go to auction on </span><span>March 12</span><span>.</span></p>
<p>It is next to the McDonald’s on the corner of Lonsdale Street and Swanston Street. </p>
<p>In the Melbourne CBD’s booming northern precinct between Melbourne Central, Emporium Melbourne and QV Melbourne, the property is being offered to the market fully leased to an established hospitality operator.</p>
<p>“Swanston Street has long been regarded as Melbourne CBD’s most highly desirable and tightly held street of property ownership and this is truly a once in a lifetime opportunity,” Alex Brierley said.</p>
<p>Over the past five years Swanston Street has been transformed from a retail strip to food and beverage destination catering to Melbourne CBD’s booming student population. </p>
<p>Recent food and beverage leasing deals along Swanston Street have achieved rentals as high as $6,000 per square metre for smaller shops.</p>
<p>In a landmark deal, the former Jack London retail store at 301 Swanston Street was leased to popular chain David’s Hot Pot for approximately $400,000, for the 107 square metre ground floor space, negotiated by CBRE’s Zelman Ainsworth and Tan Thach.</p>
<p>“273 Swanston Street is well positioned to benefit from GPT’s new 10-level office tower that will sit atop Melbourne Central mall at 300 Lonsdale Street, which will drive rental growth well into the future,” Julian White added.</p>
<p>The last building to transact on Swanston Street was the 1930s-style, heritage 123 Swanston Street, which sold for just under $16 million, reflecting a 2.75 per cent yield, in 2015.</p>
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70-year wait for Swanston Street building in Melbourne: CBRE

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<p><span>Smithfield Property has purchased a mixed-use gem with multiple value add options for $3.9 million in Brisbane’s New Farm.</span></p>
<p><span>The property, at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMtZbL8K1IrWjVUh45Aq1JPvZgRKLiO1yIdaTuGmyPY7RBzTjk87oMXyuFthyeL5QE+aqhgjQE5jC4s771CGlAYIY1lj9REGYQGs6KxnEZLDH2o6oAsmKn60=&amp;rh=ff005a1ef76267a9fd1d1906694490ebed71f6fc" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">599 Brunswick Street</a>, offered a diversified income stream with a complimentary mix of retail, office and 16-room boarding house.</span><br><br><span>It was partially tenanted with half of the ground floor retail vacant and a short WALE of 1.05.</span><br><br><span>The property was sold by Ray White Commercial (QLD) Retail Investment Sales Michael Feltoe.</span><br><br><span>“The property had some unique features that really divided buyers into two camps. There were three easements and council requirements that significantly restricted development upside of the car parking land," Mr Feltoe said.</span></p>
<p><span><span>“The buyer acquired the asset on an eight per cent yield that reflected the long-term vacancy, overall short-term income security, and the amount of work required to bring the property up to standard.</span><br><br><span>In the last two years, the property had been formally on the market for sale twice with two other agencies, and had been under contract and fallen over a few times in some off-market processes by other agencies.</span><br><br><span>“Instead of doing the same thing again and expecting a different result, we recommended marketing the asset for sale via auction which generated a huge amount of enquiry (147).</span></span></p>
<p><span><span><span>“Smithfield Property were the perfect buyer due to both their track record with properties that need creative solutions and their requirement to relocate their office into the vacancy."</span><br></span></span></p>
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Smithfield Property pays $3.9 million for New Farm value asset

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<p>Recovery for investor stock in inner Sydney and eastern suburbs has been patchy and is largely dependent on the supply pipeline in the given area, according to the latest Herron Todd White (HTW) residential report.</p>
<p>The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.</p>
<p>"This time last year, we were discussing the reality of being amidst a property downturn, particularly due to tightening credit availability as a result of the banking royal commission along with widespread negative market sentiment.</p>
<p>"We are now experiencing very different conditions with most inner city agents reporting persistently low levels of listings and this, combined with the renewed interest caused by interest rate declines, is set to cause the market to continue to recover," the valuation firm stated.</p>
<p>This is particularly the case for good quality, owner- occupier dwellings.</p>
<p>The first home loan deposit scheme commenced on 1 January 2020 and is likely to have a direct impact on the lower end of the property market but also flow-on effects to mid-level properties.</p>
<p>The usual possible headwinds for the Sydney property market include affordability constraints, credit availability and wider economic and political matters.</p>
<p>"Surry Hills is one to watch this year, particularly since the completion of the light rail, which has improved the public transport servicing the area and implemented traffic calming and management measures to reduce congestion," the valuation firm said.</p>
<p>This combined with the removal of construction and the associated aesthetic improvements should see a price increase in the area.</p>
<p>It is then likely that the neighbouring bridesmaid suburbs of Darlinghurst and Redfern will see some value uplift as a flow-on.</p>
<p>"Similarly, Randwick, Kensington and Kingsford in the east will benefit from the completion of the Randwick section of the light rail last December, with the Kingsford section due to open in March this year," the valuation firm added.</p>
<p>Kingsford in particular, with a median house price of $1.98 million according to realestate.com. au, could well prove popular for buyers priced out of the neighbouring suburbs of Randwick ($2.35 million) and Kensington ($2,571,500).</p>
<p>After being one of the worst performing inner city suburbs in 2018, Pyrmont appears to be recovering, largely due to plans to redevelop the fish markets and surrounding Blackwattle Bay precinct.</p>
<p>In addition, Mirvac is looking to redevelop the nearby Harbourside shopping centre and The Star casino is undergoing expansion and refurbishment, with a proposal for a new hotel atop the building.</p>
<p>Redfern is well serviced by public transport and is close to the city, yet provides plenty of green spaces.</p>
<p>It appears to be comparatively affordable in relation to its surrounding suburbs with a median of $1.4 million for a three-bedroom property (realestate.com.au).</p>
<p>The median for a similar property in Surry Hills is $1.65 million and across the park in Paddington is a whopping $2.235 million.</p>
<p>A renovated three bedroom house in Surry Hills has recently been sold for $1.615 million.</p>
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<p>The three bedroom, one bathroom house is located at <a href="https://www.realestate.com.au/sold/property-house-nsw-surry+hills-132799382" target="_blank">25 Bennett Street</a> (pictured below).</p>
<p>It features stone topped kitchen, chic bathroom, and easycare garden.</p>
<p>The location is within close proximity to parks, Oxford Street and the CBD.</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/2020/2/10/surry%20hills%20.jpg" alt=""></p>
<p>"The suburb as a whole is shaking its social stigma and it remains a popular choice for young professionals and families with the eastern corridor of the suburb considered the most desirable," the valuation firm commented. </p>
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<p>As always, high density, investor centric markets should be treated with caution, particularly those with large pipelines of new apartments, including Waterloo, Zetland and Rosebery.</p>
<p>Whilst the current supply pipeline may settle and even return to below average levels in 2021, the timing of projects settling throughout 2020 is unfortunate for purchasers, as many projects sold off the plan in the peak of the market.</p>
<p>Therefore any purchasers unable to settle may be required to off load at a loss.</p>
<p>A recent example is <a href="https://www.realestate.com.au/sold/property-apartment-nsw-waterloo-131445738" target="_blank">106/16A Gadigal Avenue, Waterloo </a>(pictured below) in the Emblem development (below) that was sold off the plan on 17 June 2015 for $970,000 and re-sold (nine months after completion) on 21 August 2019 for $910,000.</p>
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<p>The report suggests the other factor impacting this market segment is the ongoing negative sentiment related to building issues in newer, large scale developments.</p>
<p>This could potentially continue to be a significant factor and it is imperative that purchasers take due care when buying into newer large scale developments.</p>
<p>There are a few other elements that will unfold throughout the year that could have specific effects on some locations throughout the inner regions of Sydney.</p>
<p>For example, the lockout laws are set to be wound back across much of inner city Sydney (although not in Kings Cross).</p>
<p>"It will be interesting to see if this has some impact on property prices through changes to nightlife premises operating hours and the flow on impacts of noise and patron behaviour.</p>
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<p>"CBD apartments are likely to also benefit from light rail completion and traffic flow alterations, while the WestConnex motorway construction is likely to continue to impact Rozelle, Lilyfield and some inner western areas." </p>
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Inner Sydney market continues to recover in 2020: HTW residential 

<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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