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Whilst the Melbourne city centre has experienced an increase in the number of high-rise apartments over the past few years, developers are always looking for new ways to improve city living for residents, according to the latest Herron Todd White (HTW) residential report. 
The report notes there are many apartments available on the market today, including off the plan developments.
"The median Melbourne apartment price ranges between $340,000 for a one-bedroom apartment and $840,000 for a three-bedroom apartment with the potential to generate rent of $450 per week to $910 per week respectively," the report said. 
Highlighted below are the city centre’s highest priced sale to date and highest current rental listing.
 <img src="https://www.urban.com.au/images/2019/11/18/190135%20Spring%20Street%20Melbourne.jpeg" alt="">
The highest priced sale was 1901/35 Spring Street, Melbourne (pictured above).
It was sold for $14.75 million in May.
The apartment consists five bedroom, four bathroom, and six car space. 
Located at the Paris end of the city, 35 Spring Street is known as one of Melbourne’s high-calibre buildings.
"With a modern luxury design, residents can enjoy the many features and amenities this property has to offer yet still be in the hustle and bustle of the core of the city with its renowned retail, restaurant and entertainment culture," the valuation firm said. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/10151%20spring%20st.jpg" alt="">
The highest rental listing in the Melbourne CBD is<a href="https://www.realestate.com.au/property-apartment-vic-melbourne-427154306" target="_blank"> </a><a href="https://www.realestate.com.au/property-apartment-vic-melbourne-427154306" target="_blank">101/51 Spring Street, Melbourne</a> (pictured above).
The apartment with three bedroom, two bathroom, and two car space has been listed for $3,300 per week.
 Overlooking the treelines of the Treasury Gardens, this mansion-like apartment is one of the Melbourne CBD’s most prized apartments.
"Taking up an entire level, this luxury dwelling features a family library, wine cellar and voluminous living spaces which can be used for formal and informal entertainment areas. This is the ultimate family home as there is something for everyone," the valuation firm said. 
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j.ballantyne1990-6AQqhLzZaK

Melbourne CBD sees increasing number of sky-high apartments listings: HTW residential 

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The international property developer of skyscraper Australia 108 has been questioned by the Singaporean stock exchange about the tower’s structural soundness.
It follows the decision to let some residents live in the unfinished building.
Some of the questions were prompted by an article in The Age on July 27 in which residents complained about cracking noises and defects.
Developer World Class Global and builder Multiplex maintain there is no risk to the safety of occupants nor the structural integrity of the building.
Residents started moving into lower levels of the Southbank block last year and the reported complaints were brought to light as construction of the upper floors continued.
The group said they had looked into concerns raised in The Age article and sought clarification from builder Multiplex.
“The company had received assurance from the main contractor [Multiplex] that there is categorically no risk to the safety of any occupant nor the structural integrity of Australia 108,” World Class Global said.
“The main contractor and the structural engineers have provided their reports and confirmations that the structure of Australia 108 is structurally sound and comply with Australian regulations. [sic]”
World Class Global released Multiplex’s statement assuring residents of their safety.
“Some residents have reported noise during extreme winds, which is not an uncommon occurrence in high-rise buildings,” Multiplex said in its July statement.
“This will be mitigated once the tower reaches its full height later this year and damper tanks are installed to the top of the building.
“Less than one defect has been reported per apartment in Australia 108, which is well below the industry average. There have been no defects reported that are structural in nature.”
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SGX question Australia 108's developer about structural integrity

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A blue-ribbon property located 20 kilometres north-east of Parkes in Central West NSW has sold at auction for $4,237,000.
It was sold by Geoff Rice, of Raine &amp; Horne Parkes, for a district record.  
The 1406-acre property known as Mossburn &amp; Pinegrove went under the hammer earlier this month.
It was as secured by Peak Hill couple Garry and Donna Kopp.
Mossburn &amp; Pine Grove has been in the Simpson family for three generations. 
The Kopps breed Merino sheep on their property at Peak Hill, which is in the Parkes Shire, and have secured Mossburn &amp; Pinegrove for their son. 
“The auction attracted four registered bidders including the Kopps, who competed eagerly for the property located in Parkes’s tightly held rural dress circle region near the Parkes radio telescope observatory,” Rice said. 
It was sold by the long-time owners Ian and Diane Simpson.
"It demonstrates that despite one of the worst droughts on record, quality in this region still sells.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/parkes%203.jpg" alt="">
Consisting of 1406 acres of alluvial creek country, the property, which is well fenced and well-watered has regularly produced fat lambs and crops. 
Rice noted water is a distinctive feature of the property boasting two springs and a stock and domestic bore serving all 21 paddocks through a trough system. 
“With highly improved pastures consisting of Lucerne and Clover, the property currently carries 900 1st X ewes alongside its cropping program.”
Other features of the property include two homesteads with up to five bedrooms.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/parkes%204.jpg" alt="">
The main homestead has a fully renovated kitchen and bathroom and comes with an immaculate garden setting.
The property has a backup 8.3 kW solar system. 
Raine &amp; Horne’s digital technology platform Amplify attracted more enquiries for Mossburn &amp; Pinegrove. 
Amplify uses artificial intelligence (A.I.) and social media to engage with active and passive buyers. 
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Parkes rural property sells for $4.2 million district record

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Buildings in Australia account for over 50% of electricity use and almost a quarter of our carbon emissions but the failures, frailties and fragmentation of the construction sector have created a major obstacle to long-term reductions. 
Reducing our carbon footprint plays second fiddle to the multibillion-dollar work of replacing flammable cladding, asbestos and other non-compliant materials and ensuring buildings are structurally sound and can be safely occupied.
Buildings – whether residential, commercial or institutional – do not score well under the nation’s main emissions reduction program, the A$3.5 billion <a href="https://www.environment.gov.au/climate-change/climate-solutions-package" target="_blank">Climate Solutions Package</a>. This is intended to help meet Australia’s 2030 Paris Agreement commitment to cut emissions by 26–28% from 2005 levels.
This climate fund has very successfully generated offsets under the vegetation and waste methods – these projects account for <a href="https://www.afr.com/companies/energy/climate-solutions-fund-aims-to-way-exceed-paris-targets-20191107-p5389w" target="_blank">97% of Australian carbon credit units</a> issued. But <a href="https://www.hvacrnews.com.au/news/buildings-to-the-rescue-for-erf/" target="_blank">built environment abatements have been very disappointing</a>.
Australians have <a href="http://climatecollege.unimelb.edu.au/facts4paris-australias-capita-emissions-remain-highest-among-its-key-trading-partners" target="_blank">very high emissions per person</a>. That’s partly due to how we use our buildings.
Our states and territories control building regulations. This year the Council of Australian Governments (COAG) <a href="http://coagenergycouncil.gov.au/publications/trajectory-low-energy-buildings" target="_blank">set ambitious energy-reduction trajectories</a> for buildings out to 2022 and beyond. This was to be achieved through amendments to national codes and implementing energy-efficiency programs.
<h2>Making the best use of our buildings</h2>
Last month, the Green Building Council and Property Council launched a policy toolkit, called <a href="https://new.gbca.org.au/news/gbca-news/making-every-building-count-industrys-practical-plan-lower-emissions-and-deliver-practical-savi/" target="_blank">Making Every Building Count</a>. The councils urged governments to adopt practical plans to reduce emissions in the building sector.
The toolkit contains no fewer than 75 recommendations for all tiers of government. These are the result of work done through industry and university research partnerships in places like the <a href="http://www.lowcarbonlivingcrc.com.au/" target="_blank">Low Carbon Living Collaborative Research Centre</a> – now disbanded after its seven-year funding ended.
Most energy-efficiency studies and programs focus solely on the operational aspect of buildings, such as the energy used to heat and cool them. However, various studies have proved that the energy and emissions required to manufacture building products, even <a href="https://theconversation.com/pink-batts-not-a-scandal-but-not-as-good-as-claimed-10213" target="_blank">energy-saving products such as insulation</a>, can be just as significant.
A more holistic approach is to look at the embodied energy already in our building stock, which then poses a <a href="https://www.adelaidereview.com.au/form/2019/06/25/book-extract-the-impact-of-overbuilding-on-people-and-the-planet/" target="_blank">serious question about our consumption</a>. So, besides aspirational codes for net zero-energy buildings, we should be asking: can we meet our needs with fewer new buildings?
In Melbourne, for example, an estimated <a href="https://www.sbs.com.au/news/the-feed/melbourne-s-60-000-vacant-houses-uncovered" target="_blank">60,000 homes are sitting unused</a>. Commercial property has very high vacancy rates – <a href="https://www.afr.com/property/commercial/retail-woes-blow-through-iconic-melbourne-strips-20190813-p52gi9" target="_blank">up to one in six premises are unoccupied</a> in parts of the city. This points to a less-than-effective market in valuing our embodied carbon emissions in property.
If we are to get serious about reducing emissions, we need to tackle inefficient space use.
<h2>Empowering people to cut emissions</h2>
In occupied commercial buildings, some evidence suggests most building managers are grappling with complexity and challenging tenant behaviours. They also don’t get the clear information they need to continually <a href="https://tfespecialreports.com.au/energy-efficiencys-big-secret-a-major-retrofit-of-performance-can-be-surprisingly-affordable/" target="_blank">improve their building’s performance beyond a selected benchmark</a>.
In residential property, home energy performance is very much in our own hands. So we need to consider the means, motivations and opportunities of households, which I did in my <a href="https://www.propertyobserver.com.au/https://minerva-access.unimelb.edu.au/handle/11343/220478" target="_blank">doctoral study</a>. A major barrier is that most of us don’t even know what we are getting when we buy or rent an ageing stock of more than 9 million homes.
Europe and the United States moved to <a href="https://www.gov.uk/buy-sell-your-home/energy-performance-certificates" target="_blank">mandatory residential energy disclosure</a> at point of sale and lease well over a decade ago. If you rent or buy a home in these countries you get an energy performance certificate. It identifies emissions intensity and gives advice on how to operate the home more efficiently and hence with lower emissions.
In Australia, we have just sat on a commitment made by <a href="https://www.coag.gov.au/sites/default/files/communique/2009-04-30.pdf" target="_blank">COAG back in 2009</a> to introduce a nationwide scheme.
Size matters, too. Residential space per person is <a href="https://www.commsec.com.au/content/dam/EN/ResearchNews/2018Reports/November/ECO_Insights_191118_CommSec-Home-Size.pdf" target="_blank">high by international standards</a>. Although McMansions are on the wane, our <a href="https://www.afr.com/property/residential/mcmansions-no-more-as-house-sizes-shrink-20191108-p538oi" target="_blank">apartments are getting a bit bigger</a>. The average size of freestanding houses built in 2018-19 shrank by 1.3% from 2017-18 to a <a href="https://www.commbank.com.au/guidance/newsroom/commsec-home-size-trends-report-201911" target="_blank">17-year low of 228.8 square metres</a>.
And we are putting more solar on our roofs as a carbon offset. As of September 30 2019, Australia had more than <a href="https://pv-map.apvi.org.au/analyses" target="_blank">2.2 million</a> <a href="https://theconversation.com/explainer-what-is-photovoltaic-solar-energy-12924" target="_blank">solar photovoltaic</a> (PV) installations. Their combined capacity was over 13.9 gigawatts.
However, the trend towards high-rise living is not helpful for emissions. <a href="https://www.solarchoice.net.au/blog/solar-for-strata-apartment-blocks/" target="_blank">Solar for strata apartments is tricky</a>.
I recently worked with colleagues in Australia and overseas in a <a href="https://link.springer.com/chapter/10.1007%2F978-3-030-04293-6_40" target="_blank">study</a> of the user experience of PV. We found residents face a range of issues that limit emission reductions. These issues include:
<ul>
<li>initial sizing and commissioning with component failures such as faulty inverters</li>
<li>lack of knowledge about solar and expected generation performance</li>
<li>regulatory barriers that limit the opportunity to upgrade system size.</li>
</ul>
Looking to improve regulations and codes and billion-dollar funds may be sensible ways to meet emission targets, but human empowerment is the secret weapon in improving energy performance and lowering emissions. Good low-carbon citizens will help create good low-carbon cities.
A set of clear guides on how to use a building is a good starting point. The <a href="http://builtbetter.org/lowcarbonguides/" target="_blank">low-carbon living knowledge hub</a> provides these.
What will make every building count in lowering emissions is the behaviour of occupants, the commitment of owners to make their buildings low-carbon and building managers’ ability to become more adept at reducing building-related emissions.<img src="https://counter.theconversation.com/content/126930/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/timothy-oleary-685735" target="_blank">Timothy O'Leary</a>, Lecturer in Construction and Property, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</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/making-every-building-count-in-meeting-australias-emission-targets-126930" target="_blank">original article</a>.
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Making every building count in meeting Australia’s emission targets

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The National Australia Bank has been announced as the first lender on the lending panel for the government’s first-home loan deposit scheme.
They have committed to not charging eligible customers higher interest rates after the housing stimulus package begins on January 1.
NAB chief customer officer Mike Baird said the bank would update eligible customers in the lead-up to January 1.
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Mr Baird said NAB was “proud” it had been selected to partner the government and described it as a “great endorsement” of the bank’s home loan offering.
“This scheme is a fantastic way of helping even more customers, allowing them to potentially save thousands of dollars on their mortgage,” Mr Baird told The Australian.
NAB has been offering special rates for first-home buyers, with a 2.88 per cent annual rate fixed for two years, since 2017.
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The NHFIC will supervise the scheme, overseeing rules that permits only two major lenders to be appointed to the lending panel. The big bank will only be entitled to receive up to 50 per cent of the 10,000 guarantees allocated per financial year.
There will also be a range of non-major lenders appointed to the lending panel.
Loan applications for the scheme are not yet open.
Information about the Scheme is available on NHFIC’s website including an online tool to assist prospective first home buyers determine the relevant property price threshold that will apply to any potential purchases. 
Additional eligibility tools are being developed and will be launched publicly.
First-home buyers wanting to buy next year using the new home loan deposit scheme will be limited to properties sold for less than $700,000 in Sydney, $600,000 in Melbourne, $500,000 in Canberra and $475,000 in Brisbane.
There are regional limits too.
The scheme will apply to owner-occupied loans for FHBs with an annual income of up to $125,000 or couples with a combined $200,000 per year.
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NAB to offer competitive home loans for FHBs in government’s first-home loan deposit scheme

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The Business Council of Australia chief executive Jennifer Westacott says the federal government needs a plan to kick-start 10 regional economies.
Westacott outlined criteria to identify places around Australia that can make the greatest economic contribution.
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"We need to pick ten places, sit down with those communities, and get the ball rolling," she says.
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The locations would have access to gateway infrastructure like an airport or major transport routes and be home to one of two existing successful industries.
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Other criteria include:
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* Strategic importance like Darwin and Cairns
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* Close to major power grids
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* A university and TAFE
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* Quality health services to support expanding population
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* Capacity to increase the supply of housing and industrial land
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* Appetite to take pressure and congestions off major cities.
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"We cannot spend twelve months arguing about which places should be chosen. Using my criteria, the places select themselves," Ms Westacott will say in a speech to the National press Club today.
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"Not every place can be selected, and we cannot make decisions based on electoral politics. Let's just get on with it."
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Westacott also called for agriculture, water policy and drought strategy to no longer be viewed in isolation.
<div class="teads-adCall">She wants the CSIRO and federal government to jointly prepare a white paper to examine water infrastructure, cropping cycles and resilience, water storage and regulation, and carbon farming.</div>
 
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Business Council calls for 10 regional cities to get special status to stimulate the economy

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A Victorian period residence with views over the Inman Valley has hit the market via expressions of interest. 
The Fairview homestead built in 1880 is nestled within 8.342Ha of land at <a href="https://www.realestate.com.au/property-acreage+semi-rural-sa-inman+valley-132431302" target="_blank">221 Nosworthy Road</a>. 
Ray White Normanville Rural Sales Consultant Greg Weber-Smith said the period features blended seamlessly with modern convenience in the residence within its own country estate.
The three-bedroom Victorian period home is supplemented by formal and informal areas, including a light-filled conservatory.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/Inman%202.jpg" alt="">
Other highlights include a gracious return veranda, lofty ceilings, original fireplaces, a wide central hallway and thick crafted stone walls.
Multi-level gardens feature an array of established trees, bushes and blooms, with chicken runs, vegetable plots and a goat and pig area.  
Many of the original buildings that accompanied the homestead during its build period have survived, including the workman's and shearers quarters, early livestock stables and accommodation.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/Inman%203.jpg" alt="">
“We’ve been very happy and lucky to have enjoyed more than 20 years here at Fairview and we have some wonderful memories,” said vendor Jennifer Melville.   “We’ve converted some of the many sheds to silversmithing and painting studios.” 
The property has potential as a venue for weddings, accommodation or an artist's retreat. 
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1880's Inman Valley homestead hits the market 

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A mid century modern designed home at Northwood failed to sell at weekend auction, despite a raft of architectural devotees inspecting the home.
The four bedroom 1961 Pendray Close home was designed by architect William Workman with the pioneering open plan living and dining area.
"Large windows and polished timber floors feature throughout this warm and inviting property," listing agent Bernadette Hayes at Harbourline Real Estate said.
It now has a $1.95 million asking price with the vendor planning on moving to Melbourne.
It last sold at $1,587,000 in 2015 through Hayes.
It is a double brick family home on 556sqm of land, in a calm oasis amongst the tree tops in Northwood, opposite Lane Cove Golf Club
The Modernist Australia website described it as "effortlessly stunning and sophisticated."
The house has over 3200 view on realestate.com.au, well above the typical viewing in the suburb of 2500 views per property.
There are just the two homes for sale in the suburb where there is a $2.75 million median based on the 12 sales in the past year.
 
 
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Mid Century Modern Northwood home yet to sell

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A currently-vacant Northbridge shopfront and office block has come onto the market for the first time in almost a decade.
Located at 146 Sailors Bay Road, the land parcel comprises of 234 square metres.
The building, which operated as Di Jones Northbridge, features 160 square metres across two levels (85 square metres on the ground floor and 75 square metres on the first floor).
There are three bathrooms.
Layout can be changed to divided the listing and provide separate first floor access.
There is also parking for five cars at the rear.
It previously sold in 2011 for $1,325,000.
Paul Hunter, from JLL Sydney, listed the property.
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Vacated Di Jones Northbridge office listed for sale

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The former Croydon post office has sold for the first time in a quarter of a century. 
Situated at 1 &amp; 1A The Strand, the property comprises of two buildings - A medical practice that is leased for another five years, and a chemist.
It also includes off street parking for up to eight cars. 
Croydon Train Station is less than 50 metres from the property. 
The recent sale price has not been disclosed, however when it previously traded in 1993 it sold for $512,000.
Mark Clarke, from Ray White, listed the sale. 
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Former Croydon post office sold

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

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

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."

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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.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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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.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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