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Colliers International is confident 2019 will be a strong year for office sales in Canberra, particularly for properties valued above $10 million.
Reflecting on the state of the market at an industry event this month, Colliers International DirectorCapital Markets and Investment Services, Michael Montelibano, pointed out the ACT’s strong macroeconomic conditions.
“Our positive population growth and low unemployment, combined with relatively affordable entry points and high yields, make Canberra an attractive place to invest,” Montelibano said.
“Canberra’s office market is displaying strong fundamentals which are expected to continue for the near-term.
“These market conditions are drawing international investors to the national capital.”
Montelibano also expects investor interest to continue for the remainder of 2019.
“Office properties above the $10 million price point in established precincts such as Civic and Barton that are well leased remain highly attractive to investors. We expect yields to tighten in these markets, particularly for new build product, given decreasing vacancy and the favourable interest rate outlook.
“Significant investment activity is forecast for properties in this market segment. With over $271 million of sales in this segment year to date, we expect total 2019 sales to exceed that of 2018 by around 50%.”
Montelibano also cited the continued strong performance of the strata market and the flight to quality trend from investors and owner occupiers.
“The performance of well-located and well-leased strata stock is steady, notwithstanding pressure from tightening financing conditions and rising rates and body corporate fees. However, units in secondary markets with vacancy are presently undergoing a re-rating.”
Colliers International has noted a shift towards off-market transactions in the past five years.
“Nearly 70% of sales managed by Colliers International in 2018 were off market and there has already been over $162 million in off-market sales so far this year,” Montelibano revealed.
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j.ballantyne1990-6AQqhLzZaK

Canberra office market tipped for strong end to year 

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The former home of one of Perth’s most recognised cake shops, Avanti Cakes, has been listed for sale.
It is almost 3,000 square metres of prime real estate on Beaufort Street, Inglewood.  
After 35 years of ownership, the Lembo family has appointed CBRE to market for sale the four adjoining properties.
They are 867 Beaufort Street (1,183 square metres); 871 Beaufort Street (604 square metres); 875 Beaufort Street (594 square metres) and 875 Beaufort Street (599 square metres). 
The combined 2,980 square metre site was home to Avanti Cakes – one of Perth’s top wedding cake suppliers – between 1983 to 2005.
It was also the former Inglewood Police Station buildings. 
The property has recently received development approval for a five-storey mixed use project comprising restaurant and retail shops, medical consulting rooms in the retained heritage police quarters, 57 residential apartments and 78 car parking bays.
It is located opposite the mooted Inglewood Woolworths. 
CBRE’s Michael Milne and Ben Younger have been appointed to market the site for sale via a public offers to purchase process closing July 4.  
Milne said the properties represented an attractive development opportunity in one of Perth’s most desirable inner metropolitan locations.  
“Many people will recognise this high-profile site by the Avanti Cakes mural, which has decorated its exterior since the ‘80s, together with the adjoining Inglewood Police Station buildings," he said. 
"Its favourable street profile and existing development approval will underpin strong buyer interest from retail groups and mixed-use developers."
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Former Avanti Cakes, Perth premises listed for sale

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Residents had repeatedly told Bayside Council and the building manager that their Mascot Tower apartments were shaking during excavation work at the neighbouring Peak Towers block.
Residents also told how the basement carpark was flooded during the Peak Towers excavation.
Engineers at Mascot Towers are investigating whether the groundwater level just 1.5m below the basement carpark may have added to the damage at the crack-ridden apartment complex.
Owners were told on the weekend that engineers would be assessing Mascot Towers for at least five to seven days.
Real estate agent John Higgins, who sold most of the Mascot Towers apartments on their 2006 off the plan listings, and has been since involved since, told the Sunday Telegraph he believes the 11-storey Peak Towers, still under construction, may be responsible.
There is also an issue around a faulty support beam potentially causing the cracks that forced hundreds of residents to evacuate the complex on Friday evening.
The eight storey, 122 apartment Bourke Street was completed in 2008 above the railway line.
Higgins said cracks had also been found in the industrial building two doors down.
The building is adjacent to the site where an 11-storey apartment block is being built.
Documents show the NSW Office of Water approved­ the development after being satisfied that works dealt with the groundwater issues across the site at depths from 1.4m-1.6m below natural ground level.
 
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Mascot Towers residents await causes of cracking 

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Landmark White's second suspension from the valuation panels of major lenders was having "a major impact on the business and its viability", acting chief executive Tim Rabbitt told staff last week in a leaked email.
The troubled valuation firm, hit by two unauthorised valuation data leaks on the web, told staff it is considering a sale of "the whole or parts" of the business.
It acknowledged reinstatement by its major lenders was not likely "immediately." Nor any quick reinstatement onto the ASX.
It added that having used up a significant portion of its cash reserve during its first suspension period in January, the current second suspension which began in early June was having "a major impact on the business and its viability."
The <a href="/news/landmark-white-see-westpac-return-after-dark-web-data-privacy-breach">initial breach</a> cost up to $7 million.
"Without an immediate reinstatement from our clients, the business is likely to be in trouble in the very near term," Mr Rabbitt said in the email seen and quoted by the Australian Financial Review Weekend issue.
"The company is still working on reinstatement, but the directors (as is their responsibility to do now) have to consider alternative options for the business including the potential sale of the whole or parts of the business."
Landmark White has been unable to convince its lenders, which include three of the country's largest banks (with the exception of Westpac) to turn work back on in the wake of a second theft of information.
The saboteur posted a range of documents posted to file-sharing site SCRIBD.
LMW warned lenders that the cutting off lines of work posed a threat to the viability of the valuation industry as a whole which earned a rebuke from its own industry body.
Landmark White chairman Keith Perrett on Friday said he was proud of his staff for the commitment they had shown the company in the wake of the second information theft.
"Our management team is working closely with staff to ensure they are informed and supported as we work through the challenges the business currently faces," he said.
"We're communicating with our employees on the state of the business every day, and will not apologise for being open and transparent about the incident and impact on our business."
"LMW has been a successful business for almost 40 years, one that employs more than 450 people across Australia including in regional and remote areas," he said.
I<a href="/news/landmark-white-reports-more-private-valuation-files-posted-online">t maintained the latest data breach</a> did not constitute a notifiable breach under law as only limited private information was contained in the documents posted onto document sharing site SCRIBD.
Earlier this month Landmark White had previously disclosed CBA and ANZ were among a "small number of clients" who had dropped LMW from their valuation panels.
 
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Landmark White's viability in doubt after second saboteur valuation leak

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The retired merchant banker Mark Burrows is set to offload some of his Southern Highlands farm holdings.
He's keeping the house, called Sugarloaf Farm and acclaimed garden, with its Wollemi pine, but selling some 380 acres of the 800 acres he holds at East Kangaloon. There's talks of $12 million plus prospects for the Widgee Waa offering.
The property is an aggregation built up over 31 years, when he was head of investment bank advisory Baring Brothers Burrows.
The property has cattle farming infrastructure, equestrian facilities and a manager's cottage.
"I don't need two farms in the Southern Highlands and certainly not two of the largest land holdings," Burrows said ahead of the official marketing. 
Burrows had a long career in investment banking, commencing with Baring Brothers in London. 
Burrows moved back to Australia when he became Lazard Australia's first chairman.
He has been a non-executive director of the Asian Board of The Nature Conservancy, the world’s largest environmental NGO.
It is reportedly being listed by Christies International in conjunction with Meares &amp; Co who have suggested it was likely to fetch between $30,000 and $40,000 an acre.
The last sale on Widgee Waa Lane was in 2012 when was paid $1.65 million for an 18 hectare farm (pictured). 
The 200-hectare property Comfort Hill at Sutton Forest sold in 2007 for a record of $15 million to the late international television show veteran Reg Grundy.
Last year, Atlassian co-founder Mike Cannon-Brookes bought Kangaloon's 45-hectare Rosehill Farm for $5.35 million.
This article was first published exclusively in the Saturday Telegraph.
 
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Mark Burrows lists Widgee Waa at East Kangaloon

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The mystery buyer of the Southern Highlands farm, Widgee Waa is reportedly Mike Cannon-Brookes, the tech billioniare.
The farm was recently sold by the retired merchant banker Mark Burrows.
Burrows is keeping the house, called Sugarloaf Farm, but sold some 380 acres of the 800 acres he holds at East Kangaloon.
There's talk of a $14.5 million sale price of the Widgee Waa offering.
The property is an aggregation built up over three decades, when he was head of investment bank advisory Baring Brothers Burrows.
The property has cattle farming infrastructure, equestrian facilities and a manager's cottage.
"I don't need two farms in the Southern Highlands and certainly not two of the largest land holdings," Burrows said ahead of the official marketing. 
Burrows had a long career in investment banking, commencing with Baring Brothers in London. 
The Nine Entertainment report did not have any confirmation on the buyer identify or sale price from Ken Jacobs and Christie's International or its conjunctional agent Meares &amp; Co who always suggested it was likely to fetch between $30,000 and $40,000 an acre.
The last sale on Widgee Waa Lane was in 2012 when was paid $1.65 million for an 18 hectare farm (pictured). 
The 200-hectare property Comfort Hill at Sutton Forest sold in 2007 for a record of $15 million to the late international television show veteran Reg Grundy.
Last year, the Atlassian co-founder Mike Cannon-Brookes bought <a href="/news/rosehill-farm-kangaloon-sold-by-rose-deo">Kangaloon's 45-hectare Rosehill Farm</a> for $5.35 million in March last year.
 
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Mark Burrows sells Widgee Waa at East Kangaloon to tech billionaire Mike Cannon-Brookes

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<div class="x_mcntcolumn">
A heritage Flemington shopfront residence, most recently known as Macca’s Milk Bar, fetched $936,000 at weekend auction.
The offering at <a id="x_mcntLPlnk786746" class="x_mcntOWAAutoLink" href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-31-Dover-Street-Flemington/797226" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">31 Dover Street</a> (above), in Melbourne's north west, went to auction with an $800,000 to $880,000 price guide through Jellis Craig.
The property retains the original 1890s grocery store facade.
The three bedroom, two bathroom residence that last sold for $107,000 in 1988 operated as a business, with popular lolly counter, until 1999. 
Its sale came as momentum returned to the improving national housing market on the first big auction weekend since the Reserve Bank's sugar hit, a cut in the cash rate to a record low of 1.25 percent.
"The post election and rate cut bounce is continuing," Dr Shane Oliver, AMP Capital chief economist said, adding he estimated Sydney's final tally would see the best clearance rate in two years and Melbourne's best in 15 months.
Melbourne was host to 725 auctions with preliminary results returning a 67.9 percent clearance rate. 
Volumes are still well down as this time last year, 992 Melbourne homes were taken to auction and a final clearance rate of 56.2 percent was recorded. 
<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/2019/6/18/cap-june17.jpg" alt="">
"Melbourne’s final clearance rate has held above 60 per cent for three of the last four weeks and this week will be no different," said CoreLogic auction analyst Kevin Brogan.
Melbourne's top sale was $2.56 million in St Kilda West. The seven bedroom terrace at <a id="x_mcntLPlnk686385" class="x_mcntOWAAutoLink" href="https://www.wilsonagents.com.au/4887125/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">18 Park Street</a> has been tipped by Wilson Real Estate to fetched between $2 million to $2.2 million. There were six bidders.
Sydney was the leading market with a 74.7 percent preliminary rate.
</div>
<div class="x_mcntcolumn">
In Sydney, 522 homes were taken to auction this week, up from 313 last week. 
The preliminary clearance rate came in up from the prior weekend's 56.2 percent. 
"Even after we see the usual downwards revision over the week it’s looking like this week will be the most successful result the city has seen since at least April last year, or possibly longer," Brogan said. 
One year ago, a clearance rate of just 49.4 per cent was recorded across 708 auctions.
Sydney's top sale was near a harbour front at Lavender Bay when a three-bedroom, two-bathroom property at <a id="x_mcntLPlnk585085" class="x_mcntOWAAutoLink" href="https://www.belleproperty.com/listings/796421/20-bay-view-street-lavender-bay-nsw-2060/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">20 Bay View Street</a> (below)<a id="x_mcntLPlnk331196" class="x_mcntOWAAutoLink" href="https://www.domain.com.au/20-bay-view-street-lavender-bay-nsw-2060-2015282620" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> </a>fetched $6.71 million.
<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/2019/6/18/Lavender.jpg" alt="">
It was for sale the first time in more than four decades having last sold in 1977 for $80,000. 
There were 14 registered bidders, eight of whom participated in the auction which saw the reserve exceeded by $1.2 million.
It sold with architectural plans by Allen Jack+Cottier to local downsizers who plan to rebuild on the 373 sqm block.
There was a $5.9 million sale in Pymble, on Sydney's upper north shore. The five bedroom, three bathroom home at <a id="x_mcntLPlnk171181" class="x_mcntOWAAutoLink" href="https://www.dijones.com.au/property/house-nsw-pymble-1p25036/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">62 Pymble Avenue</a> (below) was sold by Di Jones agent Tim Fraser at $100,000 over reserve.
<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/2019/6/18/Pymble1.jpg" alt="">
The 2500sqm property with a tennis court and pool saw six local buyers register to bid.
CoreLogic advised 13 out of the 15 Sydney sub-regions returned preliminary clearance rates over 60 percent, 10 of which returned over 70 percent. There were three Sydney sub-regions with a preliminary clearance rate over 80 percent, Ryde, the Inner West and the Hills district.
Across the smaller capital city auction markets, Adelaide and Canberra saw an increase in the number of homes taken to auction, while Brisbane and Perth saw lower volumes week-on-week.
Deception Bay, a 40 minute drive from Brisbane, secured the nation's cheapest auction outcome when $250,000 was paid pre-auction for <a id="x_mcntLPlnk437722" class="x_mcntOWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhitedeceptionbay.com.au/properties/sold-residential/qld/deception-bay-4508/house/2104127" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5 Hughes Street, Deception Bay</a>.
<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/2019/6/18/Deception.jpg" alt="">
The sale of the three bedroom home through Ray White agent Tiffany Franklin was at $27,000 higher than its last sale in 2004.
There were no auctions held in Tasmania this week.
After the long weekend slowdown, national auction volumes increased week-on-week with 1,487 auctions held across the combined capital cities, returning a preliminary auction clearance rate of 66.4 percent.
Over the previous week, the final clearance rate dipped to 48.3 percent across 805 auctions.
"It’s likely that as the remaining results are collected, the final result will still hold above 60 per cent for the first time in over a year," Kevin Brogan suggested.
Over the same week last year, auction volumes were higher at 2,002, with the clearance rate a weaker 52.4 percent.
Domain recorded similar numbers to CoreLogic with a 65 per cent preliminary national clearance rate, 70.6 percent in Sydney and 65 percent in Melbourne.
The Domain economist Trent Wiltshire said the market had picked up, but market conditions were still soft, he warned, with the clearance rate still below the decade average and auction volumes also down 20 percent year on year.
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Macca's Milk Bar sells as sugar hit puts auction success rate at year highs

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An historic 1860s Kensington trophy home has been listed.
Flagmount at <a href="https://www.realestate.com.au/property/50-52-bellair-st-kensington-vic-3031" target="_blank">50-52 Bellair Street </a>was originally transported to Australia as a kit, carried over by a ship captain who used it as ballast on the trip.
The freestanding home is made from Scottish Pine and was renovated in the 1920s to become a four bedroom residence.
Following further more recent renovation, the home has walk in robes, private balcony, two ensuites, lounge, and a 1000-bottle wine storage room.
It also has a backyard, pool and carport.
<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/2019/6/29/kens%202.jpg" alt="">
“To say it has been a joy to be the Trustees of 50-52 Bellair Street is an understatement and we are sure that this friendly community will welcome the new owners,” the current owners said to Williams Media.
“We have made many lifelong friends along the street and many wonderful memories from our 34 and half years in our home that we will cherish.”
The home is walking distance to Kensington Village.
The home is being marketed by Liz Brettell and Jayson Watts of Nelson Alexander Flemington.
<div class="media-youtube-video media-image media-youtube-1"><iframe title="50-52 Bellair Street, Kensington For Sale by Jayson Watts of Nelson Alexander" name="50-52 Bellair Street, Kensington For Sale by Jayson Watts of Nelson Alexander" src="https://www.youtube.com/embed/mgIBwa8YQxw?wmode=opaque&amp;controls=&amp;rel=0" frameborder="0" width="640" height="390"></iframe></div>
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1860s Kensington kit home Flagmount listed

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A ‘get tough’ approach to crime and anti-social behavior is leading to considerable impact on families relying on social housing, a new report says.
The Australian Housing and Urban Research Institute (AHURI) report found that women affected by domestic violence are generally strongly supported by social housing landlords.
However, this commitment may falter during a social housing tenancy.
The <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=I%2BqMhXDuIS2RujNbavWSOKShOr7Ezi73JeGvxlkJ09Qb0kDpZZQFeCTzmgUtUg1%2BzQeAWO80e2F3J%2F4q2HWFLF4FXbnSC1lXyjLygVwAtvkM0e27vOJOWpKowpV1KI6EYUpJH4RSSjI%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.ahuri.edu.au%2Fresearch%2Ffinal-reports%2F314&amp;I=20190612200354.000004df3d18%40mail6-46-ussnn1&amp;X=MHwxMDQ2NzU4OjVkMDA1MmIyYjA1ZjM5NTQ1MjYyMTNiYTs%3D&amp;S=WZsJZYyE7ljme70grOAcnPQELSIwGmgRHugo_o9zLag" target="_blank">Social housing legal responses to crime and anti-social behaviour: impacts on vulnerable families </a>report was conducted by researchers from UNSW Sydney and University of Tasmania.
It looked at social housing tenancies law, policies and 95 cases of eviction proceedings in five jurisdictions— New South Wales, Tasmania, Victoria, Western Australia and the Northern Territory.
It also analyzed national policy principles relating to four groups of vulnerable people: women affected by domestic violence; children; Indigenous families; and people who problematically use alcohol and other drugs.
<a href="https://www.propertyobserver.com.au/images/2019/6/13/social%20housing.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/6/13/social%20housing.jpg" alt="">
“Tenancy obligations and extended liability impose hard expectations that women will control the misconduct of male partners and children,” said lead researcher Dr Chris Martin from UNSW Sydney.
“In tenancy legal proceedings violence against women becomes framed as a ‘nuisance’ and some women are evicted because of violence against them.
“The cases involving drug offences in particular show a punitive approach, with very minor offences, or offences involving visitors or family members often resulting in termination proceedings.
“In some cases, tenants are evicted even though the criminal justice system outcome is to allow rehabilitation at home.”
The report suggested several policy changes that could be made to help social landlords, including:
<ul>
<li>reviewing the gender impacts of social housing policies and practice and sponsoring the cultivation of respectful relationships</li>
<li>adopting ‘the best interests of the child’ as the paramount factor in decisions about termination affecting children</li>
<li>establishing specific Indigenous housing organisations, officers and advocates</li>
<li>adopting harm minimisation as the guiding principle for responses to alcohol and other drug use, including where there is criminal offending.</li>
</ul>
“Responding to anti-social behaviour and misconduct in social housing is plainly a very challenging area of practice,” said Dr Martin.
“Many of the cases we reviewed involved highly conflictual, destructive and distressing behaviour.
“It appears that in most cases a single substantial contact between the social housing landlord and the tenant was sufficient to address any problems.
“However, where problematic behaviour continues, the usual course of escalating threats to the tenancy and pushing the tenant to ‘engage’ with the landlord and support services does not work for many.
“In those cases, people who are vulnerable may be evicted from their social housing, often into homelessness.
“We need to bring support out of the shadow of termination.”
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Social housing terminations are hurting vulnerable families: AHURI

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A Queensland Government scheme to install solar and battery storage units in houses and small businesses seems set to be under-subscribed when it closes on June 30.
Energy Minister Anthony Lynham is urging Queenslanders to join the scheme.
It provides interest-free loans and grants for solar and battery storage.
“Installing a solar battery can save you up to $600 a year, even after taking into account loan repayments,” he said. 
“This is a great opportunity to cut your power bill and your emissions.
“The clock is ticking on the scheme: check your eligibility, get a quote from an approved supplier and apply before it’s too late.”
More than 3000 home and small business owners have already applied for funding under the $21 million scheme.
It was designed to help about 4000 families and small businesses. 
Property owners can get grants of $3000 for batteries and interest-free loans of up to $10,000 for rooftop solar panels and batteries.
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Queensland government solar scheme for houses ends June 30

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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

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."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

Joel Robinson

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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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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La Vera closes in on completion as Macquarie Park continues residential transformation

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

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

Staff reporter

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