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A Greenvale, Victoria mortgagee home has been sold at auction for $602,750.
It went to auction with a price guide of $560,000 - $600,000.
Last sold for $475,000 in 2015, the home sold for a tidy profit.
SItuated at <a href="https://www.realestate.com.au/sold/property-house-vic-greenvale-132708310" target="_blank">25 Giselle Circuit</a>, the four bedroom two bathroom home is located in the Lavinia Estate.
It is a 131 home estate developed by Marantali.
Nick Pugliese and Phong Ho of Barry Plant marketed the abode.
Set on 420 sqm, this open plan family home is located 30 minutes from the CBD.
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The median price for a house in <a href="/news">Greenvale</a> is $730,000, according to CoreLogic data.
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j.ballantyne1990-6AQqhLzZaK

Greenvale, Victoria mortgagee home sold at auction

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A Homebush West, New South Wales mortgagee home has sold at auction for $510,000.
The apartment is one of 10 in a boutique block and went under the hammer without a price guide.
Last sold for $445,000 in 2014, the home sold for a tidy profit.
SItuated at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-homebush+west-132770770" target="_blank">3/30 Hampstead Road</a>, the two bedroom one bathroom home is located near both Flemington and Homebush train stations.
Joe Bousimon of Belle Property marketed the abode.
The home was built in 1977 and has been listed as a rental multiple times in recent years. 
It sought $380/pw in 2013 and that increased tt $430/pw in 2016 and $450/pw in 2018.
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The median price for a unit in <a href="/developments/homebush-west-nsw-2140">Homebush West</a> is $550,000, according to CoreLogic data.
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Homebush West, NSW mortgagee home sold at auction

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A Corio, Victoria mortgagee home has sold at auction for $335,000.
Last sold for $242,000 in 2011, the housee sold for a tidy profit.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-corio-132788074" target="_blank">13 Como Road</a>, the three bedroom, one bathroom home was recently renovated and painted according to the listing.
Joe Grgic and Nick De Stefano of Harcourts marketed the abode.
Set on 604 sqm, the marketing material describes the home as "bursting with opportunity." 
It is located close to Corio Shopping Central, Schools, Transport and other amenities.
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The median price for a house in <a href="/developments/corio-vic-3214">Corio</a> is $355,500, according to CoreLogic data.
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Corio, Victoria mortgagee home sold at auction

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GUEST OBSERVATION
When the central business district of Lismore was flooded in 2017, every small business owner in the northern New South Wales town had a decision to make. Should they rebuild their businesses, or take whatever insurance money they might get and move on?
I know one who contemplated giving it all away. His shop had been completely inundated. What was the point, he wondered, if it could all happen again in another few years?
He did decide to rebuild, though. More than that, he resolved to build back better, to be better prepared for the next flood. He replaced water-damaged carpets with marine grade carpet, and plasterboard with concrete. He had shelving attached to hoists, and other cupboards on wheels.
In the wake of this season’s bushfires, many small businesses will face the same decision – whether to rebuild, and then how to “build back better”. It’s a question that should also be getting attention in the national capital from public servants and political leaders.
Preparing for future risks
This week Prime Minister Scott Morrison <a href="https://www.pm.gov.au/media/address-national-press-club" target="_blank">spoke about the need</a> to “prepare for and adapt to the environment and the climate we are going to be living in”.
“Building back better” is a crucial part of increasing resilience. It is one of the four key principles of the United Nation’s <a href="https://www.undrr.org/implementing-sendai-framework/what-sf" target="_blank">framework for disaster risk reduction</a> (endorsed in Sendai, Japan, in 2015). It stresses the benefit of using the post-disaster recovery and reconstruction phase to better prepare for future risks.
For a small business, doing so just isn’t just about restoring a premises that might have been destroyed or damaged. Building back better means looking at the business in its totality. This includes relationships with suppliers, customers and staff.
In this regard, building back better should be something done by every small business in a community affected by a disaster. Because all businesses tend to be affected indirectly even if they don’t have to deal with a direct impact. We have seen just how far and wide those indirect effects are in recent weeks, with businesses that depend on tourism <a href="https://www.sbs.com.au/news/tourism-industry-suffers-as-bushfire-images-scare-off-international-travellers" target="_blank">facing a downturn</a> despite not being in a fire-ravaged area.
Economic costs
Just as it costs more to <a href="https://theconversation.com/a-crisis-of-underinsurance-threatens-to-scar-rural-australia-permanently-129343" target="_blank">replace a home destroyed in a bushfire</a> with a building whose design and a materials are more fire-resistant, it take more resources for a small business owner to build back better.
Nor are the costs just financial – getting expert advice plans, finding skilled tradespeople and so on. There are emotional pressures too. There can be a strong motivation to put things back just as they were not just because it seems the quickest route to getting back to normal – and to that all-important cash flow – but also because it is psychologically less taxing.
In the ten years to 2016, the total economic cost of natural disasters in Australia averaged A$13.2 billion a year, according to 2017 modelling by Deloitte Access Economics for the <a href="http://australianbusinessroundtable.com.au/assets/documents/ABR_building-resilience-in-our-states-and-territories.pdf" target="_blank">Australian Business Roundtable for Disaster Resilience &amp; Safer Communities</a>. It projects the economic cost to grow to A$39 billion a year in 2050.
The small business sector disproportionately shoulders these costs, with significant personal and social consequences. If a business in a small town fails to reopen, it create a vicious cycle, reducing trade for neighbouring businesses and hurting the prosperity of the local community. Throughout regional Australia there are examples of small communities – such as <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-01-12/black-saturday-infrastructure-marysville-cautionary-tale-sa-fire/6013114" target="_blank">Marysville, Victoria</a> – that never really recovered from past disasters.
Despite how important small businesses are to the economy, and in particular to the prosperity of regional and rural communities, government recognition of the need to assist them remains a work in progress.
For the current bushfire crisis, the federal and relevant state governments are <a href="https://www.business.gov.au/news/bushfire-support#small-business-recovery-package" target="_blank">offering small business</a> “recovery grants” of up to A$50,000 and “concessional loans” of up to A$500,000. To be eligible, though, a business must suffer direct damage. After rebuilding and replacing equipment, even with insurance money as well, there’s often little to invest in building back better.
For the many more small businesses indirectly affected – losing revenue for days, weeks or even months – there is minimal government assistance. The federal, state and territory governments have talked about financial measures that will extend to businesses with indirect impacts as a result of the bush fires, but in reality the support is going towards <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-01-19/federal-government-announces-bushfire-recovery-tourism-package/11880114" target="_blank">tourism campaigns and events</a>.
If governments truly believe small and family businesses are the engine room of the economy, (as <a href="https://www.propertyobserver.com.au/https://twitter.com/scottmorrisonmp/status/1116626191023128579?lang=en" target="_blank">Scott Morrison has said</a>), it’s time to put their needs on the table in post-disaster reconstruction plans. The current assistance and funding packages are not enough, not available to all affected businesses, and don’t help these businesses come back better than before.<img src="https://counter.theconversation.com/content/130871/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/samantha-sharpe-92884" target="_blank">Samantha Sharpe</a>, Research Director, Institute for Sustainable Futures, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/disaster-hits-small-business-in-many-ways-we-need-a-national-strategy-to-help-them-adapt-130871" target="_blank">original article</a>.
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Disaster hits small business in many ways, we need a national strategy

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Pro-invest’s newest hotel development, the Holiday Inn Express Melbourne Southbank, launched in early February. 
It will delivery a 25 per cent reduction in energy usage compared to other typical city hotels.
In its first investment in the hotel sector, the Clean Energy Finance Corporation partnered with Pro-invest to enable the Southbank project to substantially cut its energy use and achieve a 5-star energy rating under the National Australian Built Environment Rating System (NABERS)*.
 With a contribution of about $40 million construction and term debt facility to the asset’s overall finance structure, Pro-invest lifted the design standard for the project, enabling the Melbourne Southbank hotel to target the 5-star NABERS energy rating.
It aims to be the first hotel in Australia to achieve a 5-star rated NABERS energy rating.
To help achieve the 5-star rating, the Holiday Inn Express has incorporated high-performance glazing, high-efficiency air-cooled chillers and condensing boilers and solar photovoltaic systems on the roof into the hotel development.
Other initiatives include regenerative lift drives rather than standard lift motors which will enable the hotel to recycle energy, and integrated building management and guestroom energy management systems to both monitor and drive building performance.
The CEFC investment has been used to effectively lift the project from the original target of a 4.5 star rating to a 5-star NABERS rating - producing a hotel energy consumption saving of about 25 per cent. 
Even fittings such as carpets have been selected for their environmental sustainability, with Interface flooring delivering 100% carbon neutral carpets for the hotel.  
The Melbourne hotel will build on Holiday Inn Express’ commitment to reduce use of disposable plastics – which has already seen the phasing-out of plastic straws and water bottles – by being the first Holiday Inn Express in Australia to replace miniature bathroom amenities with larger, more sustainable options. 
The new dispensers, containing high-quality shampoo, conditioner and soaps, will be introduced into the hotel from mid-year and then across the Australian Holiday Inn Express network over the rest of the year. The initiative has the potential of reducing plastic waste by over 20,000 bottles per year, per hotel.  
The City Road project features a 22-storey mixed-use development consisting of a 345-room hotel, 370m2 retail space, 4,500m2 of commercial space and car parking. 
Holiday Inn Express Melbourne Southbank is the first Holiday Inn Express hotel to open in Melbourne, and fifth in Australia, joining properties in Brisbane, Adelaide, Newcastle and Sydney’s Macquarie Park. Pro-invest is developing new Holiday Inn Express hotels in Sydney Airport and <a href="https://www.hotelmanagement.com.au/2017/04/12/pro-invest-group-develop-new-queenstown-hotel/" target="_blank" data-auth="NotApplicable">Queenstown</a> (2020), Melbourne (Little Collins Street), Sunshine Coast and Auckland (2021), Parramatta (2022) and a voco hotel in Auckland (2021).
This will grow Pro-invest’s hotel portfolio to a total of 12 hotels and 2864 rooms.
<img src="https://www.urban.com.au/images/2020/2/5/Holiday%20Inn%20Express%20Melbourne%20Southbank%20porte%20cochere.jpeg" alt="">
Pro-invest has financed and developed the Melbourne hotel, and operates all Holiday Inn Express hotels in Australia under a master franchise agreement with the IHG hotel group.  
Pro-Invest Group CEO, Ronald Barrott, said the group’s commitment to the highest levels of sustainability was driven by the opportunity to work with CEFC to establish a template for environmentally-sensitive urban hotels and also as a strong response from both investors and travellers calling for more sustainable industry initiatives.
“Our partnership with the Clean Energy Finance Corporation will see the Southbank hotel and all our future new-build hotels complying with strict energy-saving initiatives to ensure attainment of a 5-Star NABERS energy rating,” said Mr Barrott. 
“By its very nature, the hotel industry is a high energy user, with the <a href="https://www.cisl.cam.ac.uk/" target="_blank" data-auth="NotApplicable">Cambridge Institute for Sustainability Leadership</a> estimating that tourism contributes about 5% of global greenhouse gas emissions.  It’s important for new hotels to invest in energy efficiency design and construction and incorporate state-of-the-art environmental measures across the full-operation of the hotel. 
<img src="https://www.urban.com.au/images/2020/2/5/Holiday%20Inn%20Express%20Melbourne%20Southbank%20winter%20garden.jpeg" alt="">
“A 25% reduction in energy-use pays both environmental and economic dividends. It certainly requires greater investment, but in the long-term we are very confident that the measures will increase the overall value of the property. In fact, given that a recent survey indicated that sustainability was the most important factor for 52% of consumers when selecting a hotel, we believe our initiative can become a significant competitive advantage for the property and the brand.
“Investors are also increasingly demanding that hotel projects incorporate premium sustainability and energy-efficiency initiatives into development projects, and this has been reflected in CEFC’s additional investment of $50 million in the Pro-invest Australian Hospitality Opportunity Fund II – Australia’s first hospitality real estate fund to integrate energy sustainability in its investment criteria.”
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Holiday Inn Express Melbourne Southbank is Australia's first 5 star NABERS energy rated hotel

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A Mooloolaba riverfront home with water views has been sold for $5.13 million. 
The five bedroom, four bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-mooloolaba-125525726" target="_blank">41 Carwoola Crescent</a>. 
Loren Wimhurst and Richard Scrivener of Next Property Group Maroochydore sold the architectural home.
<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/2020/2/5/mooloolaba%204.jpg" alt="">
Set on an 807sqm block, the home features two separate living zones, master suite with riverfront balcony access, gourmet kitchen and covered alfresco area. 
Other highlights include private 21m pontoon, in-ground pool, private boat ramp and 7 vehicle garage. 
<img src="https://www.urban.com.au/images/2020/2/5/mooloolaba%203.png" alt="">
The home is within close proximity to beaches, restaurants and Mooloolaba Esplanade. 
It was last sold for $2.2 million in 2004.
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Riverfront Mooloolaba trophy home sold for $5.1 million

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A Banora Point, New South Wales mortgagee home has been sold for $600,000.
Before it was marketed as a mortgagee in this latest campaign, the vendors sought $729,000 for the house back in May 2018.
The sale still represents a profit however as it last sold for $260,000 in 2001.
Brent Hodge and Brendan Gibb of Ray White marketed <a href="https://www.realestate.com.au/sold/property-house-nsw-banora+point-132693786" target="_blank">18 Aberdeen Court</a>.
The four bedroom, three bathroom abode was built in 1997.
The property, located in the Glen Ayre Estate features a new kitchen and a double carport.
It sits on a 648 sqm block.
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The median price for a house in <a href="/news">Banora Point</a> is $620,000, according to CoreLogic data.<a href="/news"> </a>
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Banora Point, NSW mortgagee home sold for $130,000 below initial asking price

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GUEST OBSERVATION
A key question for the government’s retirement incomes <a href="https://treasury.gov.au/review/retirement-income-review" target="_blank">review</a> is who ultimately pays for compulsory super contributions, especially since they are set to climb from 9.5% of wages to 12% over the next five years.
Legally, they come from employers, on top of wages. But employers’ contributions have to come from somewhere. Compulsory super was introduced in 1992 with the <a href="https://treasury.gov.au/sites/default/files/2019-10/afts_retirement_incomes_consultation_paper.pdf">intention</a> they would come out of funds that would otherwise have been paid out as wage increases.
Modelling by the <a href="https://treasury.gov.au/sites/default/files/2019-09/foi_2534_document_set_for_release_re.pdf" target="_blank">Treasury</a>, <a href="https://grattan.edu.au/report/money-in-retirement/" target="_blank">Grattan Institute</a>, and the <a href="https://www.cis.org.au/app/uploads/2016/08/32-3-potter-michael.pdf" target="_blank">private sector</a> has long assumed that is what has happened.
But until now there has been scant empirical evidence about who actually pays, and against the backdrop of chronic low wage growth and the imminent increases, the conventional wisdom has come <a href="https://www.futurework.org.au/abandoning_super_increases_won_t_boost_wages" target="_blank">under attack</a>.
Today’s new Grattan Institute study, <a href="https://grattan.edu.au/report/no-free-lunch/" target="_blank">No free lunch: higher superannuation means lower wages</a> fills the gap.
In an Australian first, it examines detailed data on 80,000 enterprise bargaining agreements over the three decades of compulsory super and concludes that, on average, 80% of each increase in compulsory super has been taken from what would otherwise have been wage increases.
Increases super comes from wages
In theory, super contributions could come from three sources:
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workers, through lower wage growth
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consumers, through higher prices
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investors, through lower profits.
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International <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3435377" target="_blank">studies</a> of similar schemes find that most, if not all, of the cost is borne by workers through lower wage growth.
Our study examined administrative microdata on 80,000 enterprise bargaining agreements filed between 1991 and 2018 sourced from the <a href="/news">Workplace Agreements Database</a> maintained by the attorney general’s department.
We compared agreements whose terms spanned leglislated increases in compulsory super with those that did not.
Then we estimated what the wage rise in each agreement ought to have been based on detailed information about the agreement, the employer’s industry, and economic conditions at the time it was negotiated.
We were able to see whether there was a systematic difference in wage rises between the agreements that spanned step-up increases in compulsory super and those that did not.
On average 80% of the cost of increased compulsory super contributions was passed on to workers through lower wage rises than would have been expected over the life of those agreements. The long-term impact is likely to have been higher.
The graph shows the overall finding using data from 1992 to 2018 and also the results from subsets of the including the private or public sectors, big and small firms and the period since 1997.
In each case somewhere between most and all of the cost of super increases was passed through to workers in the form of lower wage increases.
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On average, 80% of super increases were at the expense of wages
<a href="https://images.theconversation.com/files/313024/original/file-20200131-41495-1ahpb28.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/313024/original/file-20200131-41495-1ahpb28.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Notes: see report. Source: No free lunch Higher superannuation means lower wages, Grattan Institute, February 2020
It isn’t only enterprise agreements
Our study looked only at workers on federally-registered enterprise bargaining agreements, around <a href="https://www.ag.gov.au/industrial-relations/industrial-relations-publications/Documents/trends-report-june-quarter-2019.pdf" target="_blank">30%</a> of the workforce. Other workers are also likely to bear the cost of higher super through lower wages.
The Fair Work Commission – the body which sets award wages – has made the link between super increases and award wages <a href="https://www.fwc.gov.au/documents/sites/wagereview2013/decisions/2013fwcfb4000_statement.pdf" target="_blank">explicit</a>, saying that when super goes up, award wages grow more slowly than they otherwise would.
State enterprise agreements are unlikely to differ much from federal agreements, and workers covered by one-on-one arrangements are likely to experience similar trade-offs.
Future super increases are unlikely to be different
It is unlikely the leglislated future step ups in compulsory super contributions will be different from the earlier ones.
<a href="https://images.theconversation.com/files/265468/original/file-20190324-36267-olwp2z.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/265468/original/file-20190324-36267-olwp2z.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
<a href="https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/?anchor=Superguaranteepercentage" target="_blank">Source: Australian Tax Office</a>
Although wage growth is slower now than in the past, wages are nevertheless – by all measures – growing by more than 2% a year, offering ample room for employers to wind back wage increases in order to fund each of the five scheduled annual step ups of 0.5% in compulsory super contributions that begin on July 1, 2021.
In fact, if workers’ bargaining power has fallen recently - <a href="https://www.smh.com.au/business/workplace/lack-of-competition-between-employers-contributes-to-weaker-wages-20180902-p50197" target="_blank">as some suggest</a> - employers might feel they can push even more of the cost of higher super onto workers than in the past.
Our analysis shows previous increases in compulsory super came mainly from wages: they took money that would have been handed to workers as wage increases and handed it to fund managers to hold and invest until those workers retired.
The next set of legislated increases are likely to do the same.<img src="https://counter.theconversation.com/content/130797/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/brendan-coates-154644" target="_blank">Brendan Coates</a>, Program Director, Household Finances, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>; <a href="https://theconversation.com/profiles/matthew-cowgill-729072" target="_blank">Matthew Cowgill</a>, Senior Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>, and <a href="https://theconversation.com/profiles/will-mackey-604500" target="_blank">Will Mackey</a>, Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/think-superannuation-comes-from-employers-pockets-it-comes-from-yours-130797" target="_blank">original article</a>.
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Superannuation comes from your pockets, not your employers

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CoreLogic has announced the appointment of Milena Malev as the new general manager of banking and finance solutions Australasia.
Ms Malev has joined CoreLogic from ANZ where she was head of general insurance business.
In the ANZ Lenders Mortgage Insurance business Ms Malev headed up the Portfolio Strategy team leading customer segmentation strategy, pricing and the reinsurance strategy. At ANZ Wealth, she was the head of retirement solutions driving the vision and strategy for the Retirement segment.
Prior to joining ANZ, Ms Malev was a project director for the Westpac Group focusing on Basel II accreditation post the Westpac and St George merger and implemented an instant credit decision platform for Westpac’s unsecured lending. 
Earlier in her career, at Veda Advantage (Equifax), she focused on data analytics and credit decisioning system design for global financial customers and credit bureaux in Europe and Australasia.
In her new role, Ms Malev will oversee all aspects of CoreLogic’s banking and finance product and solutions development with the goal of further growing the leadership footprint in Australia and New Zealand by supporting clients to address their day-to-day challenges.
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In closing, CoreLogic CEO International Lisa Claes said, “We’re extremely pleased to have Ms Malev join the CoreLogic Australasia product solutions and leadership team to help bring our clients to the forefront of transformation. Ms Malev’s past experience coupled with her deep industry knowledge underscore the commitment to providing the most impactful and innovative solutions for clients.”
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Milena Malev appointed as general manager of banking and finance solutions Australasia: CoreLogic

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A Ringwood, Victoria mortgagee home has been sold for $772,000, $43,000 less than what is last traded for.
The property last sold for $815,000 in 2017.
Micheal Hill and Brett Freeman of Noel Jones marketed the property at <a href="https://www.realestate.com.au/sold/property-house-vic-ringwood-132664414" target="_blank">142 Watirna Road</a>.
The three bedroom, two bathroom house sold during an auction in late January.
Built in 1988, the home sits on a 688 sqm block.
Situated within walking distance of Ringwood Station, local buses, open green spaces and Ringwood Golf Club, its also near schools and shopping centres.
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The median price for a house in <a href="/news">Ringwood</a> is $800,000, according to CoreLogic data.<a href="/news"> </a>
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Ringwood, Victoria mortgagee home sold for minor loss

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

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

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

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

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

Staff reporter

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