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Interest in rock-bottom mortgages skyrocketed in the days following the Reserve Bank of Australia’s (RBA) cash rate cut, according to Finder.com.au.
Finder.com.au said, following the drop to an unprecedented low of 1.25%, borrowers are acting swiftly to take advantage of low-rate loans. Traffic to <a id="LPlnk461607" href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=ab42718692&amp;e=58cd8ffd03" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">home loan deals</a> on Finder jumped by 654% in less than 48 hours since the RBA announced the cash rate cut.
Furthermore, interest in variable rates on Finder grew by 564%, while there’s been a 369% spike in those looking to refinance. Graham Cooke, insights manager at Finder, said the uptick shows Aussies are becoming increasingly savvy with their finances. “This historically low rate will open lots of eyes to just how good the current offers are – and that’s the case for variable and fixed rates, alike.
So far, <a href="/expert-insights/finance/what-are-lenders-doing-following-the-june-rba-rate-cut-ratecity">22 lenders have cut rates</a> following the RBA’s decision and all indications are that more lenders will follow suit in the coming weeks. Home loan discounts following rate cut
<img src="https://www.urban.com.au/images/2019/6/6/Finder%20rate%20cuts.JPG" alt="">
While the Big Four all announced a rate discount the day of the RBA's decision, only two – CBA and NAB – will pass on the cut in full.  Many lenders had already reduced their rates in anticipation of the rate drop. 
According to Finder.com.au, in May, 49 lenders reduced rates on 778 different home loan products
Cooke said, "we know the RBA cut the rate in part to help stabilise falling property prices, but many experts are predicting another cut this year, if not two." “Rates have never been this low. If your current home loan has a ‘4’ or a ‘5’ in front of it, you could be getting a much better deal,” he concluded.
<img src="https://www.urban.com.au/images/2019/6/6/Finder%20big%204.JPG" alt="">
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j.ballantyne1990-6AQqhLzZaK

Web searches on rock-bottom home loan rates skyrocketed after RBA rate cut: Finder.com.au

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CWP Renewables and Partners Group are pioneering Australia’s first, large-scale, public, community investment into a utility-scale wind farm. 
The Sapphire Wind Farm Community Co-investment allows investment in the Sapphire Wind Farm in the New England district.
At 270MW it is the largest wind farm in New South Wales. The energy generated by the Sapphire Wind Farm is enough to power around 115,000 homes and to displace 700,000 tonnes of carbon dioxide each year.
DomaCom, who has partnered with developers CWP Renewables and Partners Group, are closing applications for the co-investment initiative of Sapphire Wind Farm in rural New South Wales at the end of the month.
The Sapphire Wind Farm, in Kingsland is an Australian first for its community co-investment.
Initially the opportunity, closing June 30 was only made available for those in the local community, however building on the success of the campaign, the developers extended the initiative to all residents from NSW and the ACT.
Over $7.4 million of pledges were made by community members interested in investing throughout 2017/2018.
DomaCom's <a href="https://domacom.com.au/" target="_blank">fractional property platform</a> allows small investors alongside institutional investors.
The platform allows multiple investors to aggregate their investments into an asset, typically a real estate asset, but now also renewable energy projects.
Andrew Dickson at CWP Renewables, the company behind constructing the wind farm, said DomaCom is a great fit for the community co-investment initiative.
"Their online platform makes it very easy for people to establish and manage their investment," Dickson said, adding that after testing the community's interest late last year, he was surprised with the level of interest."
The project is projected to have a return of 6% which Andrew said, "represents a good investment... better than the bank."
A minimum investment of $1,250 is required (maximum investment of $200,000).
The latest fund raising seeks $3 million of pledges.
Ross Laidlaw from DomaCom said, "the Sapphire Wind Farm Community Fund is a clear demonstration of the vision of DomaCom taking large institutional assets and breaking them down into fractional components to allow retail investors to obtain exposure to an asset class not previously available.”
Construction of the wind farm began in January, and the final turbine was installed in October. 
100MW of the wind farm's capacity has been contracted to the ACT government, as part of the Territory’s 100 per cent renewable target for 2020.
Another 50MW of the project’s capacity was contracted to renewable energy retailer Flow Power, which has now sealed a deal with the Sydney Opera House.
Under that deal, the Opera House will buy 16 gigawatt hours of wind and solar output a year from both Sapphire and the Bomen solar farm, also located in NSW.
For more information on DomaCom <a href="https://domacom.com.au/" target="_blank">click here.</a>
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DomaCom Sapphire Wind Farm co-investment opportunity closes this month

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A four bedroom, two bathroom Upper Coomera mortgagee house has been sold after an unsuccessful April auction.
The home which came with an asking price of $320,000 transacted for slightly less, just $318,000.
Glenn Batten of First National marketed the house.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-upper+coomera-130723514" target="_blank">5 Moran Drive</a> the listing noted, "the property is being sold "as is" and it requires building and rectification work."
Set on 700 sqm, the abode features a double lockup garage as well as a covered outdoor entertaining area and deck.
The property was sold in late May.
<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 home in <a href="/developments/upper-coomera-qld-4209">Upper Coomera</a> is $488,750 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 1.7%.
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Four bedroom Upper Coomera, Queensland mortgagee house sold

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The good news for homeowners and investors has continued with the Reserve Bank cutting the official cash rate by 25 basis points to a historic low of 1.25%.
This decision follows hot on the heels of APRA calling on lenders to scrap the 7% mortgage interest rate test and the Federal Election result that has ensured that property tax benefits such as negative gearing and the 50% capital gains tax discount are maintained. 
Many of the offices I have spoken to or visited over the last two weeks are reporting their phones started ringing again on the Monday morning after the election.
This result underlines once again that consumers don’t like uncertainty.
The decision by the central bank today will have a similar result on buyer confidence and throw in the Federal Government’s new First Home Loan Deposit Scheme announced during the Federal Election campaign, and the short to medium term outlook for Australian property markets is much stronger than even a month ago.  
However, to achieve the intended impact of the easing, it’s imperative every lender passes the 25-basis point cut on to borrowers in full.
The RBA’s move will help affordability for first home buyers.
The caveat is that the banks must come to the party and pass this rate cut on in full.
First home buyers have all the power in the market right now. They have all the support from the government, the central bank, the lenders, and there are plenty of incentives aimed at first timers seeking to buy off the plan property.
However, the trouble is empty nesters don’t have the incentives to move, which is hindering the housing plans of upgraders and first-time buyers. 
We need governments to look at ways to provide last-time buyer incentives to help encourage the empty nesters to downsize. 
Tax incentives have been proven to work for first-time buyers. Now is the time to try to encourage empty nesters to move through tax incentives.
ANGUS RAINE is the Executive Chairman of Raine &amp; Horne
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Rate cuts help affordability, but governments need to consider last-home buyer incentives: Angus Raine

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CoreLogic’s national hedonic rental index held put in May and was up 0.4% over the past twelve months, according to their latest Home Value Index results.
According to the May Index, Darwin and Sydney's rental markets remain the largest drag on national rental growth, with rental rates falling 5.2% and 2.9% respectively over the past twelve months.
Hobart rents are rising the fastest amongst all the capital cities, up 4.9% over the past twelve months.
The result of strong demand coupled with low rental supply.
Although CoreLogic's head of research Tim Lawless described rental markets as "generally sluggish," gross rental yields are continuing to recover from their recent record lows.
Nationally, the gross rental yield is recorded at 4.13%, the highest gross yield since May 2015, but still 14 basis points below the decade average of 4.27%.
The May Index noted, "each of the capital cities and broad regional rental markets, apart from Regional Tasmania and Regional Northern Territory, have recorded either a steady or higher gross yield profile relative to the same time a year ago; a reflection of the change in rental rates being greater than the change in dwelling values."
Click <a href="https://www.propertyobserver.com.au/images/2019/6/4/CoreLogic%20Yields.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/6/4/CoreLogic%20Yields.JPG" alt="">
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Investors enjoying national rental yield at 4 year high: CoreLogic

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National property prices will rise by at least 5 per cent next year, according to Macquarie Securities.
Macquarie said in every Australian house price cycle since 1989, price growth followed within seven months after the monthly annualised price decline bottomed.
It has however forecast that prices are likely to fall another 1 or 2 per cent in coming months, then Macquarie expects prices to stop falling over the next few months.
It says likely lower interest rates, easier lending standards and a more settled post-election environment “should see national house prices rise by at least 5 per cent by the end of 2020”.
Movements of as much as 10 per cent in Sydney and Melbourne “wouldn’t surprise us”, it says.
The Government’s first home buyer deposit scheme should also provide “some modest support”, Macquarie says.
Another factor is the relative shortage of fresh home listings in recent months as ellers have kept properties off the market amid the downturn.
Lower borrowing interest rates are likely to be the most powerful factor, Macquarie suggest.
“We assume the RBA cuts by 50 basis points in coming months and most of that is passed through to actual mortgage rates,” Macquarie says.
Macquarie says support for house price growth from APRA’s rule change will be dampened by the fact that most borrowers don’t borrow the maximum loan amount available to them.
The Australian Prudential Regulation Authority wrote to lenders last month, saying that instead of the 7 per cent floor (which is 7.25 per cent in practice), they would be permitted to set their own minimum interest rate floor for use in assessments.
“Nevertheless, we are conscious that housing process are determined at the margin and the effect of APRA’s changes on the marginal borrower shouldn’t be underestimated.”
The decline from the mid-2017 peak to the trough looks like being 10 per cent nationally, with Sydney’s peak to trough fall to be around 15 to 20 per cent and Melbourne’s close to 15 per cent.
If the peak-to-trough fall is 10 per cent it will be the biggest housing market fall in 40 years, it noted.
Macquarie has lowered home loan interest rates in recent months, despite the cash rate then remaining on hold.
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Macquarie tips property prices to rise 5 percent in 2020

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Home loan lenders have continued to cut rates following the RBA rate cut announcement on Tuesday.
The <a href="/expert-insights/finance/who-cut-their-interest-rates-following-the-rbas-move">big four banks all cut within a few hours</a> following the decision for the RBA to cut rates to 1.25%, the lowest in history and the first time they've moved since August 2016.
ING, Bank of Queensland, Virgin Money, Qudos Bank and Newcastle Permanent have moved their variable interest rates since the last RateCity.com.au update yesterday.
ING, the nation’s fifth largest home loan lender chose to pass the full 0.25 per cent cut on to their variable rate customers, effective 25 June 2019
BOQ is only passing 0.15 per cent on to their most popular product, the Clear Path variable rate package, while all other variable rate loans will be cut by the full 0.25 per cent.
Virgin Money is passing on 0.22 per cent to their variable rate customer.
Popular banks still yet to announce their intentions include BankWest, Bendigo Bank, Adelaide Bank, ME Bank, HSBC and AMP.
<img src="https://www.urban.com.au/images/2019/6/6/RateCity%20New%20Rates.JPG" alt="">
The first to cut was Athena, a small Sydney-based non-bank lender who only entered the market this year. They cut their rates by the full 25 basis points within 15 minutes of the RBA decision.
The online lender announced a new headline variable rate for owner-occupiers at 3.34 percent.
The <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">first big four bank to cut was the ANZ</a>, just nine minutes after the RBA's announcement, however they've been outed by Treasurer Josh Frydenberg because they only cut 18 basis points, as opposed to the 25 basis points the RBA cut by.
“I think the ANZ has let down its customers,” Frydenberg said.
Commonwealth Bank were next, <a href="/news/cba-announce-full-rate-cut-after-june-rba-meeting">announcing their 25 basis point cut</a> at around 3.30pm. 
Effective from June 25, CBA's standard variable rate will drop by 0.25%.
NAB joined CBA with <a href="/expert-insights/finance/nab-joins-cba-in-full-0-25-rate-cut-to-historic-lows">a full 25 basis point cut</a> for their standard variable rate which will be the lowest rate they have offered in four decades.
Westpac were the last to cut, <a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">only passing on a 20 basis point cut</a>.
TERM DEPOSITS
We saw a huge flurry of cuts to term deposits in the lead up to Tuesday’s RBA rate announcement, as banks moved to price the expected cut in. Over 50 banks have cut term deposit rates in the past two months.
This week, the term deposit rate cuts continue to come in, particularly from Westpac and ANZ. A stocktake of the big 4 banks below:
<ul type="disc">
<li>ANZ – ANZ has cut almost 20 term deposit rates and has hiked just a couple since Tuesday. The biggest cut on our database is 0.60 per cent;</li>
</ul>
<ul type="disc">
<li>Westpac – Westpac has also changed a range of term deposit rates since the beginning of the week, cutting by up to 0.50 per cent and increasing one by 0.25 per cent. Westpac’s at-call deposits remain under review;</li>
</ul>
<ul type="disc">
<li>CBA – no change to date;</li>
</ul>
<ul type="disc">
<li>NAB – no change to date.</li>
</ul>
RateCity.com.au’s research director Sally Tindall said Tuesday’s rate announcement was like rubbing salt into a wound for savers.
“It’s been a tough slog for savers over the last three years, and while a range of factors influence deposit rates, we’re expecting them to sink even further," Tindall said.
“It is especially frustrating to see ANZ and Westpac hold back part of a home loan rate cut with one hand and slash some of their deposit rates with the other.
“It does still pay to shop around. Right now, you can find term deposit and savings rates that offer up to around 3 per cent, however, these rates are unlikely to last for long,” she said.
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What are lenders doing following the June RBA rate cut? RateCity

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Allens has advised ASX-listed Mirvac Group (Mirvac) on its fully underwritten institutional placement to raise A$750 million.
They also offered counsel on a non-underwritten security purchase plan to raise up to A$75 million. 
Combined they make up one of the largest equity raisings in Australia this year.
The Mirvac equity raising follows a series of equity raisings by real estate groups.
"We're seeing several real estate groups move to capitalise on strong equity market conditions to embark on acquisitions or raise funds for future opportunities," said Partner Julian Donnan, who led the Allens team alongside Partner Kate Towey.
"Mirvac is one of Allens' long-standing clients and we were pleased to advise them on this landmark capital raising that will strategically position it for future growth," Kate said.
Approximately A$2.1 billion of capital has been raised by Australian Retail Estate Investment Trusts in 2019. Allens has acted on a number of these transactions, including:
- Acting for the underwriters on Dexus' A$900 million fully underwritten institutional placement; - Acting for Charter Hall Education Trust on its A$120 million fully underwritten institutional placement and follow on unit purchase plan; and - Acting for the underwriters on VIVA Energy REIT's A$100 million fully underwritten institutional placement.
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Allens advises Mirvac on $750m equity raising

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Highgate, the historic Clayfield home, has been listed for sale for a July 6 auction.
Designed by Richard Gailey, the 1920's Spanish mission residence at <a href="https://www.raywhite.com/qld/clayfield/2120478/" target="_blank">117 Adelaide Street E, Clayfield </a>has been tightly held for the past four decades. 
It was once owned by Elizabeth Hart, a pioneering female in Brisbane law circles.
Hart worked at Flower and Hart Solicitors, one of Brisbane's oldest and largest legal firms. 
Set on 1,710 sqm, Highgate has six bedrooms, formal and informal dining and lounge rooms, a freestanding office and a billiard room.
<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/clayfield%202.jpg" alt="">
Under a terracotta tile roof, Highgate still has a number of original features, including a working fireplace, lead lighting, french doors, hardwood floors, decorative horse-hair plaster ceilings, and hand-cut crystal chandeliers.
In the grounds is a saltwater swimming pool.
Christine Rudolph and Matt Lancashire of Ray White New Farm has the listing. 
<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/clayfield%203.jpg" alt="">
 
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Highgate, Clayfield's historic 1920s Spanish mission home, set for auction

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GUEST OBSERVATION
People’s quality of life, their health and their comfort can suffer when living in poor-quality housing. It can also impose high ongoing costs of maintenance, repairs, heating and cooling. And these problems are more likely to affect low-income households, as <a href="http://www.shelternsw.org.au/uploads/1/2/1/3/121320015/poor_quality_housing_report_2019.pdf" target="_blank">our report</a> for Shelter NSW shows. In it, we review the evidence on housing quality problems and consider ways to resolve these, especially for low-income households.
There is extensive evidence of the impacts of poor-quality housing on <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/27712557" target="_blank">physical health</a>, <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1257572/" target="_blank">mental wellbeing</a> and <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/10942447" target="_blank">comfort</a>. For example, poor design and maintenance can lead to the <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1398-9995.1998.tb03859.x" target="_blank">build-up of mould</a>.
These negative impacts vary by income groups and tenure. From the recently completed <a href="https://dataverse.ada.edu.au/dataset.xhtml?persistentId=doi:10.26193/RDMRD3" target="_blank">Australian Housing Conditions Dataset</a> we know, for example, that renters on very low incomes (the bottom fifth of households for gross income, about $20,000 a year) are most likely to have unmet repair needs. They also have a harder time staying comfortable during winter and summer, as the table below shows.
<a href="https://images.theconversation.com/files/276912/original/file-20190529-181266-12d6trt.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/276912/original/file-20190529-181266-12d6trt.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://dataverse.ada.edu.au/dataset.xhtml?persistentId=doi:10.26193/RDMRD3" target="_blank">Source: Australian Housing Conditions Dataset</a>, Author provided
What are the reasons for poor-quality housing?
There are several underlying reasons for substandard housing.
Properties may enter the rental market after years in owner-occupation with no formal checks on their state of repair.
Another problem is some private renters do not assert – <a href="https://rentingfair.org.au/need-to-know" target="_blank">or feel unable to assert</a> – their legal right to habitable premises in a reasonable state of repair and upkeep. This is often because of the insecurity of their leases and lack of affordable alternative housing.
Another issue is “split incentives” – landlords decline to upgrade properties because they would not receive any benefit themselves.
There are also problems in public housing. Disinvestment by governments has both reduced the supply of housing and caused a <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/148" target="_blank">backlog of maintenance for much of the remaining stock of dwellings</a>.
Housing quality is covered by myriad regulatory regimes. Lately, governments have been focused on questions of <a href="https://ncc.abcb.gov.au/" target="_blank">how best to regulate construction of new buildings</a>. Less attention is given to the ongoing use of existing buildings.
Recent state and national reviews have highlighted problems in the certification of building design and construction, and in the public agencies that oversee the certifiers. Some state governments have begun to respond. The New South Wales government, for instance, is moving to consolidate the regulation of construction practitioners under a new <a href="/news/nsw-government-to-appoint-building-commissioner-following-industry-reform-report">building commissioner</a>.
We spoke to a range of housing sector stakeholders and the theme from the recent reviews that most struck a chord was inadequate policy governance. There was no comprehensive overview or oversight of the issues of housing quality. As a result, some important issues escape policymakers’ attention.
Many stakeholders indicated that the current focus on problems in new buildings is an example of this. Although that’s plainly an issue in need of attention, other problems in existing buildings and more fundamental solutions are being overlooked – such as increasing social and affordable housing supply.
So what are the solutions?
<ul>
<li>Empowering tenants and regulators</li>
</ul>
One way in which the quality of existing housing is regulated is through tenancy laws. This will become more important as rental housing becomes an <a href="https://www.tandfonline.com/doi/full/10.1080/02673037.2017.1301400" target="_blank">increasingly common option, particularly for the long term</a>.
Recently, some state governments have amended tenancy laws to specify <a href="https://www.cbos.tas.gov.au/topics/housing/renting/beginning-tenancy/minimum-standards" target="_blank">“minimum standards” for rental housing</a>. Our research participants supported these moves, but said security of tenure also had to be improved to protect renters when they assert their rights. The onus of legal enforcement could also be shifted from tenants to regulators.
<ul>
<li>Mandating improvements to overcome the split incentive problem</li>
</ul>
The <a href="https://www.propertyobserver.com.au/https://apo.org.au/node/178481" target="_blank">split incentive problem for housing quality</a> means some landlords are reluctant to pay for upgrades – such as insulation or other energy-efficient features – where tenants are the beneficiaries. As a result, renters, especially those on low incomes, are likely to be <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/159" target="_blank">living in housing of lower standards or quality</a>.
A potential solution is for governments to take the minimum standards approach and legislate energy efficiency and other improvements as mandatory. This is <a href="https://www.gov.uk/government/publications/the-private-rented-property-minimum-standard-landlord-guidance-documents" target="_blank">already commonplace overseas</a>.
One of our workshop participants observed that “energy poverty” was another way of framing the policy issue that had proved compelling in overseas jurisdictions. While this framing had not had the same impact in Australia, <a href="https://www.acoss.org.au/wp-content/uploads/2018/04/EEC-Survey-online-FINAL-.pdf" target="_blank">this may be changing</a>.
<ul>
<li>Improving transparency of housing standards</li>
</ul>
Social housing providers have a role in leading by example. Increased investment in social housing could contribute to improved quality across the housing system.
To this end, social housing landlords – particularly state and territory public housing authorities – need to be more accountable to tenants and the general public. Transparent reporting on property conditions, maintenance and tenant satisfaction, led by the social housing sector, can and should be rolled out as standard practice across the sector.
To do this, however, <a href="https://theconversation.com/australia-needs-to-reboot-affordable-housing-funding-not-scrap-it-72861" target="_blank">enough funding must be provided</a> to reverse <a href="https://www.theguardian.com/australia-news/2019/may/17/national-obscenity-australias-story-of-housing-boom-and-homelessness" target="_blank">decades-long underfunding</a> in the sector.
Collectively, these options can deliver more equitable housing outcomes, not only to low-income households but to all. The challenge lies in having the political and industry will to act on them.
Edgar Liu, Senior Research Fellow at City Futures Research Centre, UNSW
Chris Martin, Research Fellow, City Futures Research Centre, UNSW
Hazel Easthope, Associate Professor, City Futures Research Centre, UNSW
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/chilly-house-mouldy-rooms-heres-how-to-improve-low-income-renters-access-to-decent-housing-116749" target="_blank">original article</a>.
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Chilly house? Mouldy rooms? Here’s how to improve low-income renters’ access to decent housing

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>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

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

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

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

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

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

Staff reporter

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