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A Bellevue Hill home has sold for $4 million at auction - some 33% over the selling agents price guide.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-bellevue+hill-132080318" target="_blank">165 O'Sullivan Road</a>, the residence came onto the market as part of a deceased estate.
It had been held by the same family for 92 years.
It features two bedrooms, and a single bathroom, a federation-style verandah, and large level lawns.
The 553 square metre block overlooks Woollahra Golf course.
Despite it selling for substantially more than expected, at $7,233 per square metre, buyers agent Rodney Mcloughlin noted it was under the median price per square meter for Bellevue Hill (which is approximately $8,700 per square metre).
The suburb's outright median house price is $5.6 million, making it Sydney's second most expensive suburb behind only Darling Point. 
Michael Pallier, from Sydney Sotheby's International Realty Double Bay, listed the property.
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j.ballantyne1990-6AQqhLzZaK

Bellevue Hill deceased estate listing sells for $4 million

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A Kewdale, West Australia mortgagee home has been sold for $235,000.
The villa last sold for $287,000 in 2012.
As a result, this sale marks a $52,000 loss for the vendors.
Kim Findlay of Laurie Kelly Real Estate marketed the two bedroom, one bathroom villa.
Situated at <a href="https://www.realestate.com.au/sold/property-villa-wa-kewdale-131822562" target="_blank">21/294 Knutsford Avenue</a>, the home sits on 69 square metres.
The abode was first marketed in 2015 when it sought $385,000, later reduced to $349,000.
In this latest campaign, the home was first unsuccessful at auction before selling later with a price guide that originally started at $250,000 before being reduced to $235,000.
The 1979-built home sold for $280,000 in 2006, meaning this latest sale marks a value reduction encompassing 13 years.
It is located in the lakeside complex of Tanderra Village, described in the listing as "fully renovated".
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/news">Kewdale</a> is $319,000, according to the latest CoreLogic data.
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Kewdale, WA mortgagee home sold for $50,000 loss

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EXPERT OBSERVER
The October Labour Force Survey surprised with a –19.0k decline in employment – the market median was for 16k while the lowest forecast in the range was +7k.
It was a surprisingly soft update all the more so for while the participation rate eased back to 66.0% from 66.1%, as you would expect with a soft print on employment, the unemployment still bumped up to 5.3% (5.32% at two decimal places) from 5.2%. Westpac had been looking for a rise in unemployment as we do expect participation to remain relatively robust in the face of softer employment growth.
This month also reinforced the trend that while male participation has lifted off its cyclical low it is the trend rise in female participation that driven force in the outsized gains in the labour force.  
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFHighlighs.JPG" alt="">
The average monthly employment gain so far in 2019 dropped from 25k in September to 20k in October with the annual pace easing back from 2.5% in September to 2.0% in October. This also saw the employment pulse slow with the six month annualise pace easing to 1.6%yr from a very robust 2.6%yr reported as recently as August. Currently, with participation remaining robust growth in the labour force was still a fast 1.9% six months annualised in October.
By contrast the working age population is currently growing at a 1.6% six month annualised pace so you can see how it is rising participation, more so than population, that his holding up unemployment. As such, with the leading indicators pointing to softer employment growth we remain comfortable with our expectation that a resilient participation rate will see the unemployment rate continue its gradual trend higher into 2020. Our current forecasts is for the unemployment rate to drift higher to around 5.4% by end 2019 or early 2020 then rise to 5.6% by mid-2020.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFsixmont.JPG" alt="">
We should also note the jump up in underemployment rate to 8.5% (8.52% at two decimal places) to from 8.3%. It was 8.54% back in August reinforcing a trend drift higher in underemployment. This month there was a contraction in both full-time and part-time employment (–10.3k full-time and –8.7k respectively) driving a 0.2% decline in hours worked.
This highlights that it is a fundamental weakness in the report that is driving underemployment higher rather than some statistical shift. This trend drift higher in underemployment, and the slower pace of gain in hours worked compared to total employment (1.4%yr vs. 2.0%yr), reinforces the observation of the broader slack in the labour market slack beyond the 5.3% unemployment rate.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFUnder.JPG" alt="">
The state data is also reveals that the two largest states, NSW and Victoria, are starting to slow; NSW more so than Victoria. Total employment fell –10.3k in NSW with the unemployment rate picking up to 4.8% from 4.5%. In the year, employment growth in NSW has fallen from 3.8%yr in July to 1.5% in October.
Victoria has been a bit more robust than NSW with employment lifting 2.9k there with a smaller rise in unemployment to 4.8% (now on par with NSW which has risen to meet Victoria) from 4.7%. Annual employment in Victoria is still running at a very solid 3.2%yr pace but this is a moderation from the 3.7%yr pace in June. Of the mining states, Qld reported a fall in employment of –14k while employment lifted 6.3k in WA. Unemployment was steady in both states at 6.5% in Qld, 5.7% in WA.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/bulletin/Justin_Images/OctNov2019/LFunempl.JPG" alt="">
While today’s update was weaker than we were anticipating, it was not enough to change our view that the labour market is softening gradually which will drive a modest gradual rise in unemployment and underemployment. The Australian economy is a long way away from the RBA’s full employment aim of 4.5% and if the Bank wants to use monetary policy to drive the economy in that direction, it has a lot more work to do. However, the gradual pace of the deterioration will allow the RBA time to monitor the economy before having to act again.
In our view, while rate cuts along with the Government’s tax offset payments should help to support demand, we think it will be insufficient to get economic growth moving back to trend or above in 2020. As we see employment growth continuing to moderate in early 2020, and expect that the resulting decline in participation will provide only a partial offset, we hold to our view that unemployment is likely to hit 5.6% my mid-2020.
JUSTIN SMIRK is ‎a senior economist for Westpac 
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Rising unemployment is working against RBA's objectives: Justin Smirk

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The Di Jones real estate agency is being investigated by NSW Fair Trading after using digitally altered photos to advertise a Wollstonecraft apartment, without any advisory of doing so.
The apartment is being advertised for a November 23 auction with a $775,000 price guide.
The Di Jones advertisement has been amended after the ABC began making inquiries and contacted NSW Fair Trading.
It is not known why Di Jones did not rip out the unsightly carpets.
Below is a photo from the listing of one of the master bedroom.
<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-11-14/wollstonecraft-bedroom-clean-1/11703346"><img src="https://www.abc.net.au/news/image/11703196-3x2-700x467.jpg" alt="a clean and well lit bedroom" title="Wollstonecraft bedroom" width="700" height="467"></a>
The actual bedroom looked like this.
<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/2019/11/15/Di%20Jones%20bedroom.jpg" alt=""> Source: ABC News
<div class="inline-content photo full">A spokesperson for the state's consumer watchdog, NSW Fair Trading, confirmed real estate agents "must act honestly, fairly and professionally with all parties involved in a property transaction".</div>
"Failure to comply with the rules of conduct also attracts significant penalties."
"It isn't a systemic problem — but like any other industry there are people within real estate who do the wrong thing," the CEO of REINSW Tim McKibbin said.
The kitchen below, used in the marketing, looks relatively tidy, however in person, isn't quite what it seems.
The photos included digitally altered kitchen images.
<div class="inline-content photo full">Large stains on the kitchen and cooker were not visible in the listing's original photos. </div>
<div class="inline-content photo full"><a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-11-14/wollstonecraft-kitchen-clean-1/11703356"><img src="https://www.abc.net.au/news/image/11703250-3x2-700x467.jpg" alt="a clean and well lit kitchen" title="Wollstonecraft kitchen" width="700" height="467"></a></div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full">The stovetop is rusted and the counter tops unsightly.</div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full"><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/2019/11/15/Wollstonecraft%20Kitchen.jpg" alt=""></div>
<div class="inline-content photo full">Source: ABC journalist Emma Elsworthy</div>
<div class="inline-content photo full"> </div>
<div class="inline-content photo full">In a text message to prospective buyers, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-11-14/sydney-real-estate-agency-investigated-over-inaccurate-listing/11703152" target="_blank">the ABC reporter Emma Elsworthy</a> said Di Jones announced changes had been made to the online listing "to ensure that we accurately position and represent this property throughout the duration of the sales campaign".</div>
The owner of the apartment was reported to have been a recluse and his death was only discovered months later when neighbours hadn't seen him.
The two bedroom, Selwyn Street apartment spans 86 sqm.
It was bought three decades ago at $205,000.
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Di Jones has blamed "an administrative error." 
Its CEO Rob Ward stated a third-party supplier engaged by Di Jones Lower North Shore edited the published photos without consent.
“The edits made to the photos were not requested by any member of the DiJONES Lower North Shore team."
He said the agency would cooperate and assist with any investigation by NSW Fair Trading.
</div>
</div>
</div>
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Di Jones digitally altered Wollstonecraft photo marketing being investigated by NSW Fair Trading

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City Tattersalls Club, one of the oldest clubs in Sydney, has had its plans for a $200-million mixed-use tower approved by Sydney City Council.
The club in conjunction with developers ICD Property will construct a new 100-room hotel plus 246 apartments at its 194 Pitt Street site.
The City of Sydney Central Sydney Planning Committee gave an envelope approval for the Stage 1 Concept Development Application at its Thursday night meeting.
<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/2019/11/15/City%20Tattersalls%20Club%201.jpg" alt="">
<div class="in-content-ad">
Under the plans, the almost 125-year-old club's heritage site will have an angular feature to ensure it does not overshadow Hyde Park.
The process to redevelop the club and its airspace kicked off in mid-2013.
ICD developed the Eq Tower in Melbourne.
“It is a result that will safeguard the future of the City Tattersalls Club for another 125 years to come,” City Tattersalls Club chairman Patrick Campion said.
</div>
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$200-million mixed-use City Tattersalls Club tower approved by Sydney City Council

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Auction activity in Sydney is down this week off the back of its its second busiest auction week of the year, with 891 auctions scheduled this week, down 6%
Mosman is tied as the second busiest auction suburb this weekend, and the busiest in Sydney with 17 homes set for the hammer.
The suburb with the most auctions is Mount Waverley, with 21 homes to be auctioned off. There are 1,169 Melbourne homes scheduled for auction this week, with volumes set to rise by 13.3% on last weeks 1,032.
Across the smaller auction markets, auction volumes are set to rise in Adelaide (23.9%), while volumes are down in Brisbane (-21.5%), Canberra (-32.4%) and Perth (-25.5%). Tasmania has 5 scheduled auctions this week.
<img src="https://www.urban.com.au/images/2019/11/14/Auction%20Clearance%20NOV%2017.JPG" alt="">
The dearest auction taking place in Mosman this weekend is for <a href="https://www.realestate.com.au/property-unit-nsw-mosman-132198246" target="_blank">2/23 Moruben Road</a>, a first floor apartment.
Set on 183 sqm, the three bedroom, three bathroom abode holds a sweeping 200 degree view of Sydney Harbour.
Built in 2005, the apartment last sold for $3,350,000 in 2013.
It was last listed as a rental in 2012 seeking $4000/pw, according to CoreLogic and in 2011 it sought $2300/pw.
<img src="https://www.urban.com.au/images/2019/11/14/Mosman%20Auction%202.JPG" alt="">
One of the priciest auctions taking place for a house in Mosman this weekend is <a href="https://www.realestate.com.au/property-house-nsw-mosman-132197142" target="_blank">24 Carrington Avenue</a>.
The three storey waterfront reserve home is like the previous home being just minutes from Mosman village and Balmoral Beach, among other amenities and education facilities.
Last sold for $4.3 million, the home sold under the hammer in November 2016.
The five bedroom, four bathroom home sits on a 597 sqm parcel of land.
<img src="https://www.urban.com.au/images/2019/11/14/Mosman%20Auction%203.JPG" alt="">
Mosman's cheapest property up for auction this weekend is <a href="https://www.realestate.com.au/property-apartment-nsw-mosman-132289206" target="_blank">4/22 Mosman Street</a>.
The one bedroom, one bathroom apartment is set for the auctioneers gavel with a price guide of $575,000.
Last sold for $322,000 the home transacted in 2002.
Positioned within Mosman Towers, which has recently undergone some minor refurbishments, the home encompasses 46.5 sqm.
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Mosman is Sydney's busiest auction suburb this weekend

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Retail leasing in Toowoomba has been relatively subdued in 2019 with vacancy rates within the CBD increasing, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that this is likely due to the completion of the QIC Grand Central Shopping Centre redevelopment in 2018. The centre doubled in size to approximately 90,000 square metres, introducing new discount department stores, supermarket and approximately 160 speciality stores, with the latter considered to have drawn businesses from the CBD.
Rentals appear to have been relatively static, although some lease incentives are available for long term commitments.
The historically low interest rates have resulted in a strong demand for retail properties by investors, however the lack of supply of quality, fully leased properties has limited the number of investment sales and has resulted in a firming of net yields over the past two years.
The report noted, "despite strong investor demand there have been no major retail sales in Toowoomba in 2019."
"This is due to a lack of supply with most property owners electing to hold on to assets with good lease covenants and secure cash flow," it added.
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Toowoomba retail market remains subdued in 2019: HTW Retail

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The Brisbane retail property sector has remained relatively stable throughout 2019 as firm yields continue to be achieved across asset types and price points with strong demand from investors for quality retail assets with strong income security, according to the latest retail report from valuation firm Herron Todd White.
They found, the recent interest rate cuts and the very poor returns from cash are however again putting downward pressure on property yields for good quality investments, despite an industry consensus in late 2018 and early 2019 that yields had bottomed.
The valuers said, "we are yet to see widespread evidence of further yield tightening but this is more a function of very limited levels of stock availability and lesser levels of sales activity."
"At the lower end of the market, the demand for good quality convenience and neighbourhood shopping centres remains strong with high levels of investor interest from private investors in particular."
"Such properties generally continue to trade in the six to seven per cent yield range"
More broadly, sub-regional, regional and major regional shopping centres continue to feel the squeeze as the traditionally high rental levels are in many instances not sustainable.
Whilst good centres are better at maintaining occupancy, for many centres this is being done on a reduced rental structure which has a direct flow through to values.
For secondary centres, the increasing levels of vacancies are becoming harder to hide.
The report authors noted, "much of this pain is still to be worked through and is likely to continue for some time."
"These pressures are impacting on the higher end investment markets where the sentiment for retail has softened considerably."
"Overall, we expect generally stable market conditions to continue for the lower tier retail markets into 2020 on the back of the low interest rate environment."
"In particular, there will continue to be strong interest in secure income producing properties with strong lease covenants, however many leasing markets are likely to remain difficult and there will be a heightened degree of volatility for both rentals and values for secondary assets," they concluded.
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Brisbane retail sector strong with limited supply: HTW Retail

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The Melbourne retail investment sales market has generally remained steady throughout 2019 with firm yields reflecting the limited availability of quality stock and solid purchaser demand, according to the latest retail report from valuation firm Herron Todd White.
They found particularly strong results for well located properties with long term leases to major national retailers and for those with longer term development potential. We have continued to see varied results throughout the wider market.
There have been a number of examples of heavily declining rents which, when coupled with already sharp yields, is resulting in downward pressure on capital values in some areas.
The Melbourne CBD retail market has experienced reasonable levels of leasing demand within the retail core. The Melbourne retail rental market continues to be impacted by changes in consumer behaviour and varied consumer confidence.
The HTW valuers said, "there has been an increasing level of tenant demand from food based operators and an ongoing decline in demand from consumer goods retailers throughout the Melbourne CBD, although we are aware of a possible oversaturation occurring within this sector."
"Subdued consumer spending is causing pressure on retailers’ occupancy costs and downward pressure on rents"
"Discussions with a number of leasing agents throughout Melbourne has identified an emerging trend whereby tenants are seeking to secure short initial terms, sometimes as short as one year, with a number of further option terms which allows for flexibility in the short term but some security and certainty to retain premises should the location prove suitable for the business."
"From a landlord’s perspective, these flexible leasing terms are attracting tenants, covering operating costs and providing for reviews to market should the leasing market improve."
"In addition to the above we have also witnessed a number of tenants being more aware of the impact that significant incentives have on the net effective rents. Tenants appear to now be more open to negotiating lower face rents in lieu of rent-free periods or fit out contributions which provides more transparency for the tenant and landlord," the valuers stated.
Downward pressures on rents in suburban retail strips persisted throughout 2019 with some areas such as Chapel Street continuing to experience high levels of vacancies coupled with decreasing rental rates.
The report authors added, "overall whilst demand for quality retail assets remains strong, particularly for well-located properties which have long term leases and strong lease covenants, there is evidence that tighter commercial lending criteria is restricting access to funds for many potential purchasers."
"Financial institutions are placing an increased focus on factors such as security of income, lease covenant and length of remaining lease term in assessing serviceability of debt."
"As a result of the reduction in the borrowing power of purchasers, we are beginning to see a slowdown in the constant price rises seen over the past five-year period," they concluded.
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Melbourne retail market steady at the peak: HTW Retail

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Overall the Wollongong retail market is headed towards finishing the year as predicted, flat, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that the first half of the year was particularly challenging for retailers due in large part to a stagnant housing market however some hope for a recovery has been provided for the second half of the year and moving into 2020 as the housing market recovers, likely being fuelled by the three interest rate cuts.
It is hoped that these interest rate cuts will stimulate spending in the retail sector.
The report authors stated, "leasing conditions have continued a long term trend of being static given above averagevacancy rates and generally soft demand, while supply continues to be introduced to the market given the large number of mixed-use projects completed in the Wollongong CBD over recent times and with additional projects also being developed at present."
"There is no upward pressure being placed on rental rates with conditions generally favouring tenants," they concluded.
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Hope remains for a Wollongong retail recovery: HTW Retail

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."

[smartcode_project:default project_id=1979 project_image_fid=363228]

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."

[smartcode_project_cta:default project_id=1979]

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.

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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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