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Retailers faced yet another period of weak demand and declining retail spending over the March quarter of 2019, according to Deloitte Access Economics’ latest quarterly Retail Forecasts report.
The report found however, it may not be all doom and gloom for the sector, with some relief expected in the second half of the year in the form of increased tax offsets.
Real retail turnover growth is expected to slow from 2.2% in 2018 to just 1.5% in 2019, before picking up in 2020 to 2.9%
Household finances have come under pressure from stagnant wage growth and declining wealth, despite decreased unemployment numbers.
This has hurt consumer sentiment and weighed on willingness to spend.
<img src="https://www.urban.com.au/images/2019/6/14/Deloitte.JPG" alt="">
Deloitte Access Economics partner and Retail Forecasts principal author, David Rumbens, said, “March quarter retail data confirmed our view that consumers are just not willing to spend as they once were. People are pulling back on spending as household finances remain under pressure from stagnant wage growth and declining wealth.
“A deteriorating labour market, inflation below the target range, weak consumption, and falling house prices were enough to prompt monetary easing by the Reserve Bank of Australia for the first time in nearly three years, and lower rates will leave some much needed cash in the pockets of Australia’s highly indebted households."
He added that over half of all tax refunds are completed in the September quarter, and just under another 25% in December.
“This bodes well for a surge in spending in the September quarter, rising around 1.3% over the quarter, and provide the boost retailers have been craving,” Rumbens concluded.
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j.ballantyne1990-6AQqhLzZaK

Post election tax offsets may boost hurting retailers: Deloitte

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Nissan Motors has been secured as the anchor tenant for Frasers Property Australia (Frasers Property) and ESR Australia (ESR1) newly purchased Mulgrave site
The 4.67 acre 254 Wellington Road site has received planning approval for 60,000 sqm of commercial space, a 752 sqm café/retail area and 2,497 car spaces.
A community hub is also envisaged incorporating a gymnasium, restaurant and activated outdoor open space.
The business park is expected to have an end value of A$400 million when completed.
Anthony Maugeri, General Manager, Southern Region Commercial &amp; Industrial, for Frasers Property Australia stated, “Frasers Property, in joint venture with ESR, previously developed 211 Wellington Road with a strong track record in attracting major corporates to the area. 
"We plan to develop a state-of-the-art business park and are eager to deliver industry-leading amenity on the site to assist in attracting large commercial occupiers,”he said.
Phil Pearce, Chief Executive Officer at ESR Australia said, “This is an exciting project for ESR and Frasers Property as we commence a large-scale business park development in Melbourne’s south-east. We are seeing Mulgrave emerge as a growing suburban commercial office market"
Nissan Australia’s Managing Director Stephen Lester said, “Our current office was officially opened in June 1977, so over the 40 plus years that we have based ourselves here it has served us well, but we have grown as a business since then."
<img src="https://www.urban.com.au/images/2019/6/14/Nissan%202.JPG" alt="">
Nissan Australia’s 11,000 sqm facility will be spread across five levels (including ground level) of the 8 level building and will comprise over 9,000 sqm office, 1,850 sqm workshop and 550 car bays.
The new building, situated on the corner of Wellington Road (60 metre frontage) and Peters Avenue will achieve a 5 Star Green Star Design &amp; As Built v1 certified rating from the Green Building Council of Australia.
The joint venture is a 50:50 split between Frasers Property and ESR. Frasers Property secured the 245 Wellington Road site, while ESR will undertake the development. Nissan Australia’s building is anticipated to be completed by May 2020 while the entire development is forecast for completion by late 2025.
Practical completion of the facility is due in May 2020.
Andrew Peak, Gianni Macdonald and Stephen Adgemis from CBRE brokered the Nissan transaction.
Rob Joyes from Colliers International brokered the 254 Wellington Road acquisition.
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Nissan to anchor Frasers Property and ESR's newly purchased Mulgrave site

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A Baldivis, WA mortgagee home has sold for $325,000.
This marks a reduction of $150,000 on it's July 2014 sale price of $475,000.
Lorraine Dove of RE/MAX held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-wa-baldivis-130859970" target="_blank">11 Lomandra View</a>, the four bedroom, two bathroom home transacted for less than it did in 2006.
In January 2006, the 2005 built home traded for $365,000.
Located in The Rivergums Estate, Baldivis, the home is near amenities such as public transport, schools and shops.
The home originally sought $365,000, $40,000 less than what it sold  
<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 price for a house in <a href="/developments/baldivis-wa-6171">Baldivis</a> is $382,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 0.9%. 
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Baldivis, WA mortgagee home sold for $150,000 loss

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A Cape Paterson, Victora mortgagee home has been sold at a $2 dollar loss.
The three bedroom, two bathroom house sold for $385,000 last month, a reduction of mere $2 dollars on it's October 2017 sale price of $385,002.
Marni Lee Redmond and Jo Ginn of Alex Scott &amp; Staff Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-cape+paterson-126046146" target="_blank">4 Anglers Road</a>, the home features two off-street parking spaces and ocean views.
Set on 512 sqm, the 1990 built house was last listed as a rental in 2011 at $450/pw.
Preceding the 2017 sale, the abode sold for $277,500 in 2007.
<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 price for a house in <a href="/developments/cape-paterson-vic-3995">Cape Paterson</a> is $469,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 4%. 
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Pocket change lost on Cape Paterson, Victoria mortgagee home sale

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ASIC has cancelled the credit licence of Rochelle Weinert.
ASIC found that Ms Weinert had acted dishonestly and was not a fit and proper person to engage in credit activities. 
Ms Weinert is a mortgage broker.
ASIC’s concerns about Ms Weinert relate to her involvement in a property development in Newman, Western Australia, known as the ‘Newman Estate Project’.
Ms Weinert has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
ASIC's investigation into Ms Weinert's conduct was part of an ongoing investigation into the Macro Group of Companies.
ASIC actions to date as a result of the investigation into the <a href="/news/anquan-loses-financial-services-licence-in-macro-group-pilbara-estate-aftermath">Macro Group of Companies</a> have included applications to the Federal Court, resulting in the appointment of liquidators to 24 companies within the Macro Group and and the permanent banning of Veronica Macpherson from providing financial services.
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Macro Newman investigation sees ASIC cancel Rochelle Weinert credit licence

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A Telina, Queensland mortgagee home has sold for $275,000.
Marking a reduction of $105,000 on the previous sale price of $380,000 when the house transacted in 2010.
Bevan Rose of Gladstone Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-telina-131022126" target="_blank">41 Witney Street</a>, the 1999 built home first transacted for $35,150 with the Gladstone City Council being the vendor.
The three bedroom one, bathroom abode also features parking for three vehicles.
Set on an 837 sqm block, the house is situated in the Telina Estate.
Featuring a double bay shed and an in-ground swimming pool, the home sold for just under it's asking price of $289,000.
<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 price for a house in <a href="/developments/telina-qld-4680">Telina</a> is $280,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -3.3%. 
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Telina, Gladstone, Queensland mortgagee home sold for $105,000 loss

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The bellwether listed estate agency McGrath Limited has told shareholders that continued subdued 2019 market conditions have further hit its financial profitability.
With improved sentiment yet to translate into increased listings, and sales, McGrath Ltd says it now expects a full year earning's loss of $6 million to $6.5 million due to headwinds across the nation's housing markets.
The forecast loss is up on <a href="/news/mcgrath-estate-agents-dip-in-earnings-worsens">the envisaged $4.5 million EBITDA loss advised in its March update</a> for the first eight months of the financial year.
McGrath shares have slipped from its $2.10 listing price in December 2015.
The shares were trading at 27 cents before and after this morning's update.
The ASX-listed realtor said today market conditions for FY19 had been challenging with transaction volumes and property values in Sydney, Brisbane and Melbourne further subdued in the 12 months to May.
"While we have seen a general improvement in interest and enthusiasm in the market, we are yet to see this translate to an increase in listings," chief executive Geoff Lucas said in a statement. He did detect signs that sellers are now more prepared to meet the market.
While property market sentiment has started to improve following the federal election and house price declines have started to ease, McGrath chief executive Geoff Lucas said market conditions for FY2019 "have been challenging".
McGrath lost its <a href="/news/kon-stathopoulos-departs-mcgrath-estate-agents">head of sales Kon Stathopoulos</a> last week.
"While we have seen a general improvement in interest and enthusiasm in the market, we are yet to see this translate to an increase in listings," Mr Lucas said.
"However, with the elections now behind us, there is evidence of rising confidence in the property market and broader  economy.
"We are seeing significantly increased buyer engagement at auctions, both from owner-occupiers and investors, buoyed by the recent interest rate cut by the RBA - the first since August 2016, and APRA’s decision to lower the mortgage assessment criteria for new loan serviceability.
“There is certainly more activity in the housing sector and we expect more favourable conditions will flow through to an improved performance in the next financial year”,
McGrath will announce its full year FY2019 results on August 26.
In a separate announcement McGrath advised appointment of Howard Herman as chief financial officer, effective June 24 after its former CFO Glynn Wright resigned after just 18 months with the company earlier this year.
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Herman has over 25 years commercial experience most recently as chief financial officer of global apparel business Naked Brand Group Limited, listed on NASDAQ and previously of Speciality Fashion Group, an ASX listed fashion retailer. 
His experience in the property sector includes finance roles with, Bovis Lend Lease in Sydney and Anglo American Properties in Johannesburg, South Africa.
Mr Herman said he was thrilled to join the team at McGrath. 
"The company is entering an exciting new phase and I look forward to playing an integral role in its future growth, working closely with Geoff and the Board to execute on our strategies to generate long-term sustainable value for our shareholders.”
Mr Herman holds a Bachelor of Commerce (University of Cape Town) and is a qualified chartered accountant (South Africa and Australia).
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McGrath continues to focus on its cost base and noted its strong balance sheet position at 28 February 2019, featuring no debt and $14.3m million in cash.
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McGrath forecast bigger losses as improved housing market sentiment yet to boost revenues

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Stockland, the nation’s largest listed housing developer, says residential sales remain weak, with “risk to the downside”.
It was especially the case in Stockland estates on the outskirts of major cities and regional areas.
Cancellation rates have increased moderately on the back of uncertainty created by current market conditions, it advised yesterday.
Stockland chief executive Mark Steinert told investors that buyer defaults had increased in the last quarter of the 2018-19 financial year to 5 percent, above the long-term average of 3 per cent.
Stockland has more than 2800 contracts on hand for settlement from the 2020 fiscal year, but the group expects challenging conditions to continue this year.
Even after the post-Federal election uplift with enquiry levels recovering in Sydney and Melbourne, where the downturn had been the deepest, it noted.
Perth and South East Queensland remained flat.
Stockland chief executive Mark Steinert said their residential sales for the March quarter were 26 percent below the December quarter.
He blamed “challenging market conditions, reduced credit availability and buyer uncertainty due to the upcoming federal election”.
Stockland sold a major partially completed estate, The Grove last year, to Frasers Proeprty to reduce its exposure to the weakening market and find a share buyback.
Domain reported Macquarie Equities' analyst Rob Freeman - who recently toured Mirvac, Stockland, Lendlease, Frasers and The Satterley Group's estates - saying sales volumes had fallen between 30 percent and 70 percent over the past year.
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"Developers which relied heavily on investor channels to sell product in the upswing have suffered the most in the downturn.
"Speculators are no longer in the market, up to 20 percent of volume in the peak for some developers, and investor sales have declined significantly, in one instance investors who were 30 per cent of volume, are now at 20 percent," Mr Freeman said.
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<div class="_1lC_G">"Default rates are varied and between about 4 per cent to 7 percent, which appears to be an increase of about 200 basis points from lows with cancellations running at 10-15 percent."</div>
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<div class="_1lC_G">The Melbourne developer and fund manager Ouson Group has onsold a 61 hectare site in Mount Cottrell in the outer west to a Singaporean group for $50 million with the capacity for between 820 and 920 lots once approved for subdivision.</div>
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The site, which lies within the proposed suburb of Rockbank South, is close to several big housing estates, including Mirvac's Woodlea Estate and Stockland's Mt Atkinson.
The Mt Cottrell site lies within Melbourne's western growth corridor, centred around Melton and Wyndham.
The research firm Red23 ranks Melton as having the highest number of trading housing projects, with close to 40 projects.
 
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Stockland sees residential risk to the downsize

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llawarra has seen sales volumes continue to fall with current sales activity 23% below the five year average for the region, according to the latest CoreLogic Regional Report. 
The report reveals challenging property market performance across Australia’s regions, with falling sales activity in the 12 months to February 2019.
The proportion of houses and units selling has seen a similar decline with house sales down -20% and unit sales down -22% over the year to February 2019.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/llawarra%201.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/2019/6/4/llawarra%201.jpg" alt="">
Source: CoreLogic
Across all three New South Wales regions, Illawarra saw the biggest fall in sales volumes when compared to February 2018.
Home values are down across the region, with house values recording an annual decline of -10.1%, while unit values are down -2.7% over the 12 months to March 2019.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/llawarra%202.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/2019/6/4/llawarra%202.jpg" alt="">
Source: CoreLogic 
Homes across the region are taking longer to sell, with the average time on market for an Illawarra house increasing by 22 days when compared to February 2018, while the average unit is taking an additional 30 days to sell.
The Illawarra rental market has seen no change in advertised rental rates over the year to March 2019.
<a href="https://www.propertyobserver.com.au/images/2019/6/4/llawarra%203.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/2019/6/4/llawarra%203.jpg" alt="">
Source: CoreLogic 
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Illawarra experiences biggest fall in sales volumes across NSW regions

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One of the terrace houses on Royal Terrace, one of Melbourne’s largest remaining group of early terrace homes, has hit the market.
It comes with a price guide of $5.15 million. John Bryant, a timber merchant and builder, commissioned the terraces and his family owned them until 1955, when they became Salvation Army accommodation for about two decades.
It has been offered by Brett Vanderwert and Glen Coutinho from RT Edgar Hawthorn. 
Renovated recently, the 1856 home at 62 Nicholson Street, Fitzroy now comprises two units with an easy option to return to one stately home. 
Each unit offers refined lounge and dining rooms overlooking the Carlton Gardens, and Unit One comes with additional informal living space.
<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/2019/6/11/fitzroy%202.jpg" alt="">
The designed kitchens are equipped with stone benches, Miele appliances and provincial-styled cabinetry.
The homes are completed with a combined total of four bedrooms, home office or fifth bedroom, two laundries, and bluestone-paved patio.
<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/2019/6/11/fitzroy%203.jpg" alt="">
Other features of Royal Terrace include Regency style bluestone facade, secured double carport, heating and cooling.
It is just a short walk to Gertrude Street, Brunswick Street, Lygon Street and the CBD with immediate access to public transport, local schools, universities and parklands.
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Historic 1856 Fitzroy Royal Terrace trophy home listed 

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.

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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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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;

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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.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Staff reporter

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