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Ray White Group has more than 135 auctions scheduled across Australasia this Saturday, with numbers lower than normal as most states enjoy the Queen's Birthday long weekend.
One of the auctions is a split level Mediterranean style home at Flagstaff Hill, South Australia with views over the Sturt Gorge.
It has been listed by Michael Love and Sam Gonlen from Ray White Flagstaff Hill with a price guide of $770,000. 
Described as a Tuscan salute to perfection, the three tier home at 28 Ironbark Avenue was built 20 years ago by the current owner with trails at its real doorstep.
<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/2019/6/5/flagstaff%20hill%202.jpg" alt="">
The house comprises three bedrooms, formal lounge and dining room, open plan kitchen, cellar room and large workshop/garden shed. 
Surrounded by gardens, other features of the house include ducted heating and cooling, full security with video links, ducted vacuum and a carpeted carport.
"It is an undiscovered gem and it'll put the discerning bidders in a box seat to get an amazing property," said Ray White Flagstaff Hill agent Michael Love. 
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j.ballantyne1990-6AQqhLzZaK

Flagstaff Hill home with Sturt Gorge views set for weekend auction

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The Townsville housing market has seen fewer homes transacting year-on-year, with 2,976 homes selling over the 12 months to February 2019, according to the latest CoreLogic Regional Report. 
The report reveals challenging property market performance across Australia’s region.
It suggests that the largest annual fall in both house and unit values for Queensland was seen in Townsville.
<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/2019/6/5/townsville%201.jpg" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2019/6/5/townsville%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/2019/6/5/townsville%202.jpg" alt="">
Source: CoreLogic
House values have fallen -4.8% over the year to March, while unit values are down -13.5% over the same period.
<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/2019/6/5/townsville%203.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/5/townville%204.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/2019/6/5/townville%204.jpg" alt="">
Source: CoreLogic
Looking at the Townsville rental market, advertised rents increased by $10/week for houses and $5/week for units when compared to March 2018.
The average time it takes to sell a house across Townsville has increased by three days, while the average unit is now selling three days faster than February 2018.
Vendor discounting is slightly higher when compared to 12 months ago with the average vendor discount increasing from -9.5% to -9.9% for houses and -9.3% to -9.9% for units.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/townville%205.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/2019/6/5/townville%205.jpg" alt="">
Source: CoreLogic
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Townsville sees Queensland's largest fall in dwelling values: CoreLogic

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Cbus Property has secured a second commercial office project in Brisbane’s CBD in a deal with local developer, Nielson Properties, to develop its 205 North Quay and adjacent 30 Herschel Street properties.
The partners will combine the two properties to create a 3,000 square metre riverfront corner site, with plans to develop it into a circa $600 million A-grade commercial building.
Savills agents Anthony Ott and John McDonald negotiated the transaction.
The new development, to be known as 205 North Quay, presents a landmark opportunity for Cbus Property to bookend its successful 1 William Street, Brisbane commercial project, tenanted by Queensland Government and recently awarded Property Council of Australia’s 2019 Queensland Development of the Year.
205 North Quay will add 50,000 square metres of net lettable area to the Brisbane CBD office market and responds directly to the emergence of the North Quarter precinct which has received record infrastructure investment.
“205 North Quay is a major riverfront CBD site, ideally located to capitalise on the major infrastructure projects nearby such as the recently announced Roma Street Station, Brisbane Metro, Cross River Rail and Brisbane Live,” said Adrian Pozzo, CEO of Cbus Property.
“The economic outlook for Brisbane is strong, with positive employment growth forecast to continue and Queensland’s economic growth also anticipated to continue to outperform the Australian average.
“We will look to build on these strong economic foundations and our past success with 1 William Street, to deliver a premium and future-focused commercial tower for Brisbane’s CBD in collaboration with our partner, Nielson Properties.”
Located in Brisbane’s prime commercial district, the 205 North Quay development will play a significant role in the continued regeneration of the burgeoning North Quarter precinct, which will now also include Mirvac’s 80 Ann Street tower to be tenanted by Suncorp, Shayher Group’s 300 George Street project and the recently completed W Hotel on George Street.
“We are proud to partner with Cbus Property on this landmark riverfront commercial project,” says Ross Nielson, Founder and Managing Director of Nielson Properties.
“As a local Brisbane developer, we’re excited to be a part of the evolution of the North Quarter as it becomes a vibrant hub bolstered by outstanding connectivity to Brisbane’s CBD and premium infrastructure and amenity.”
The tower is expected to be complete by 2023.
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Cbus Property locks in $600 million North Quay, Brisbane office project

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Mildura has seen a lower volume of rural sales during the first half of 2019, which is not surprising given the extremely dry start to the year, according to the latest Herron Todd White (HTW) report. 
"However there is evidently still demand for better standard rural assets, and the sales which we have seen suggest values are holding at similar levels to 2018," the valuation firm said. 
A 131-hectare wine grape vineyard located to the north of Mildura recently sold at levels which show an average $32,250 per hectare for the area planted to vines.
The vineyard has a history of good yields and relatively low costs, but also contains a high percentage of Chardonnay, which currently offers lower returns per hectare than most other varieties, HTW said.
"The lower Australian dollar is helping maintain stronger prices for wine grapes and there is a feeling of optimism that returns will continue to improve," the valuation firm said. 
The table grape industry has enjoyed another successful harvest, with fruit quality mostly good and strong export prices.
"We expect to see growers continue to plant new varieties, which will see ongoing demand for the remaining vacant land parcels in the irrigation districts," the valuation firm said.
A corporate buyer recently acquired an 85-hectare aggregation in the Red Cliffs district, planted mostly to table grapes but also with some wine grapes, at a price which equates to around $80,000 per hectare for the better table grape varieties and between $27,000 and $36,000 per hectare for the area planted to wine grapes.
<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/2019/6/5/red%20cliffs%20.jpg" alt="">
A 13 hectare Red Cliffs property (pictured above) recently sold for $272,500. It was advertised as being suitable for table grapes, avocado and citrus.
Located at <a href="https://www.realestate.com.au/sold/property-horticulture-vic-red+cliffs-7983770" target="_blank">297 Stewart Road &amp; 368 Woomera Road</a>, the property has elevated red loam soils, a natural slope and drainage.
It has a three bedroom cottage.
The report noted a much higher cost of leasing irrigation water compared to levels applying up until mid-2018, is expected to see buyers remain cautious about committing to large scale, greenfield developments.
"This position could change if we see a wetter than average winter and spring in the Murray River catchment, however there is increasing commentary around whether the Murray Darling basin can supply additional permanent tree crops.
"It is likely that we will see much less greenfield development over the next few years," says the report. 
Nearly all of the Mallee has been dry sown to cereal crops this season, many of which are just starting to emerge following some rain in early May.
"We would expect to see few sales in the Mallee between now and November, with confidence levels (and bank balances) heavily dependent on how the coming season unfolds." 
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Mildura rural values holding despite lower sales volume: HTW

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Ms Soutsakhorn Chanthabouly (known as Nicole Khammenathy) of Carnes Hill, NSW has been convicted and sentenced after pleading guilty to charges related to illegal phoenix activity.
Ms Chanthabouly was charged with one count of breaching her director duties and another count of destroying company records, following an investigation by ASIC. She was sentenced to a one-year, $500 good behavior bond and ordered to pay $22,000.00 in reparation.
Ms Chanthabouly, a shadow director of MK Asbestos Removal Pty Ltd ACN 142 918 590 (the Company) operated a business of asbestos removal services in New South Wales.
The Court’s handing down of the conviction follows an ASIC investigation which found that on or about 6 February 2014, Ms Chanthabouly transferred $22,000 from the Company bank account to the bank account of Express Asbestos Removals Pty Ltd ACN 167 780 583, a company of which she was director. In doing so, Ms Chanthabouly used her position dishonestly with the intention of gaining an advantage for herself and Express Asbestos Removals Pty Ltd.
The investigation also found that between 3 February 2014 and 19 August 2014, Ms Chanthabouly destroyed the books of the Company.
The Company was subsequently placed into liquidation on 3 February 2014.  At the time, the Company owed $78,153.90 to the Australian Taxation Office (ATO) and $19,807.86 in unpaid premiums for workers compensation insurance. By removing Company funds, Ms Chanthabouly intentionally denied the ATO access to money owed to it.
ASIC commenced an investigation after receiving a funded report from the liquidator of the Company, Robyn Duggan of Ferrier Hodgson. ASIC provided funding to the Liquidator from the <a href="http://asic.gov.au/for-finance-professionals/registered-liquidators/your-ongoing-obligations-as-a-registered-liquidator/assetless-administration-fund/#_blank" target="_blank">Assetless Administration Fund</a>.
Ms Chanthabouly was convicted and sentenced on 16 May 2019. As a result of her conviction, Ms Chanthabouly is automatically disqualified from managing corporations for five years from 16 May 2019.
The Commonwealth Director of Public Prosecutions prosecuted the matter.
<h2>ASIC is a member of the Phoenix Taskforce, which comprises federal, state and territory government agencies who work collectively to combat illegal phoenix activity. The Phoenix Taskforce is a whole-of-government approach to identify, disrupt and prosecute illegal phoenix activity.</h2>
Suspected phoenix activity can be reported to the Phoenix Hotline on 1800 807 875 or online at the ATO website.
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NSW asbestos removals company director convicted after engaging in phoenix activity: ASIC 

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ASIC has permanently banned Perth-based adviser Phillip Emidio Bruni from providing financial services.
This follows an ASIC surveillance of advice provided by Mr Bruni when he was an authorised representative of Westpac and The Financiallink Group.
In the course of the surveillance, ASIC became aware that Mr Bruni had been dishonest and engaged in misleading or deceptive conduct including by retrospectively creating advice documents and reproducing a client’s signature.
ASIC reviewed meta data from Mr Bruni’s advice documents and found that in response to statutory notices, Mr Bruni had created replicas of statements of advice documents that he was required by law to create and retain but had not.
Additionally, Mr Bruni attempted to cover up his failure to obtain a signed ‘authority to proceed’ from a client. He copied and pasted his client’s signature from a ‘fact-find’ document (which outlines a client’s circumstances and needs) without the client’s consent or approval.
Mr Bruni did not tell his licensee or ASIC that the documents produced to ASIC were not copies of original documents. He only admitted to creating the replica documents and the ‘authority to proceed’ when questioned by ASIC.
ASIC’s review also found that Mr Bruni had failed to give appropriate advice or provide advice documents to his clients. He also failed to act in the best interests of his clients or to prioritise their interests.
When providing advice, Mr Bruni did not objectively assess the information provided by his clients or tailor his recommendations to their circumstances. For example, in relation to property investment through an SMSF, Mr Bruni did not make adequate inquiries to assess if an SMSF was indeed appropriate or whether his client could undertake the role of an SMSF trustee. 
Additionally, Mr Bruni could not demonstrate that he had investigated alternative products or strategies that could help his clients achieve their goals. He also failed to provide information to his clients about the costs, benefits and consequences of his recommendations, which would have helped them make better informed decisions.
ASIC Commissioner, Danielle Press said ASIC’s decision reflects its expectation that financial advisers uphold the attributes of honesty and professionalism in their work. 
“Providing false evidence to ASIC under any circumstances is a breach of the law and will not be tolerated. ASIC expects advisers to adhere to the law at all times and meet their obligations of providing appropriate advice that is in the best interests of their clients” Ms Press said.
Mr Bruni’s banning is part of ASIC's Wealth Management Project, which focuses on the conduct of Australia’s largest financial advice licensees – NAB, Westpac, CBA, ANZ, Macquarie and AMP. ASIC was notified of Mr Bruni’s misconduct by Westpac.
As part of its Wealth Management Project, ASIC has banned 55 advisers and one director from the financial services industry. Four bannings are the subject of appeal.
Mr Bruni has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
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Perth adviser permanently banned by ASIC after inappropriate SMSF advice

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The RBA rate cut will lure homebuyers into what may be a nightmare journey, the veteran personal finance adviser Noel Whittaker says.
The author of Making Money Made Simple warns FHB against "stretching themselves to achieve the dream of a first home at a time when rates are at historic lows."
<div class="_1665V undefined">
"Eventually, they must start to rise again," he said in a Nine Entertainment column.
<div class="_1665V undefined">
He noted last month the Australian Prudential Regulation Authority instructed lenders to ease up on eligibility criteria. 
</div>
"Relaxing lending standards starts a chain reaction... the number of first-home buyers jumps, the extra demand pushes up house prices and it becomes even harder for young couples to get a foothold into the housing market.
"As prices rise, and affordability worsens, other potential buyers who are saving for a deposit panic, and rush into the market.
<p data-gtm-vis-recent-on-screen-6236702_632="1559705414884" data-gtm-vis-first-on-screen-6236702_632="1559705414884" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">"To make matters worse, before the election the Federal government announced plans to let first-home buyers into the market with just a 5 per cent deposit."
<p data-gtm-vis-recent-on-screen-6236702_632="1559705414884" data-gtm-vis-first-on-screen-6236702_632="1559705414884" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">Whittaker said the final step in the cycle is interest rates rising, homes being foreclosed and housing prices falling, or at least staying flat.
</div>
<div class="_1lC_G">"The latest interest rate cut puts Australia on a slippery slope.</div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">"With rates at historic lows, a cut from 1.5 per cent to 1.25 per cent will do nothing to stimulate the economy.</div>
"Rates are now so low that any changes can make little difference to the economy," he suggested.
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Noel Whittaker says RBA rate cut will lure FHB homebuyers into nightmare journey

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The Australian economy grew 0.4 per cent in seasonally adjusted chain volume terms in the March quarter 2019, according to figures released by the Australian Bureau of Statistics (ABS) today. 
Ryan Felsman at CommSec said the economy has lost momentum.
"The annual growth rate is the weakest since September 2009.
"Like other advanced economies, output has slowed since mid-2018 as US-China trade tensions weigh on global growth. But domestic demand has also slowed, as evidenced by low inflation.    
"And soft consumer spending is the main culprit.
"Household incomes are being squeezed due to a combination of modest wages growth and increasing taxes paid due to ‘bracket creep’ (where taxpayers are pushed into higher income tax brackets).
"The negative ‘wealth effect’ from the property downturn is encouraging Aussies to deleverage amid elevated household debt, crimping consumption."
Felsman said the Reserve Bank cut interest rates to fresh record lows of 1.25 per cent yesterday and "appears likely to reduce interest rates to at least 1 per cent."
Chief Economist for the ABS, Bruce Hockman, said the economy continues to grow as we head towards twenty eight years of sustained growth. Government spending was the main contributor to growth reflecting ongoing delivery of services in disability, health and aged care.  Household spending slowed and contributed a modest 0.1 per cent to growth reflecting reduced spending on discretionary goods such as furnishing and household equipment, recreation and culture and hotels, cafes and restaurants.  Dwelling investment continued to detract this quarter. The slowing housing market has resulted in significant falls in ownership transfer costs, particularly stamp duty.   “The Australian economy continues to grow but more slowly than our long term average of 3.5 per cent," Hockman said.
Economist Alex Joiner said the Australian economy remains in a per capita GDP recession with the third consecutive quarterly decline in real GDP per capita.
Commentator Callum Pickering noted Australia has to go all the way back to 2009 - the height of the global financial crisis - to see softer growth.
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Economy growing more slowly than 3.5 percent long term average

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Private investor Mintus has added another retail asset to its property portfolio, by purchasing the West Gosford Shopping Centre.
The established neighbourhood centre, anchored by Coles/ Liquorland, was sold for $23 million by ISPT/ Coles.
The single level neighbourhood centre at 269-299 Brisbane Water Drive, West Gosford sits on a 17,559sqm site with a Gross Lettable Area of 9,249sqm.
The centre includes a well performing Coles and Liquorland supported by a number of specialty tenants.   
The property was sold off market by Steven Lerche and Andrew Palmer of Savills Australia.
Saville noted the centre is strategically located at the intersection of the Central Coast Highway and Brisbane Water Drive and has significant value add potential.
“This was a rare opportunity to undertake a refurbishment/ redevelopment of a strategically located shopping centre on the Central Coast of NSW," according to Steve Lerche, National Director, Retail Investments at Savills Australia.
“The Central Coast is a thriving and growing catchment and this property is situated at the bottom of the Gosford escarpment and is the first major shopping centre in the region” he said.  
The centre has convenient on grade parking for 210 cars and town planning is Zoned “B2 Local Centre” under the “Gosford Local Environmental Plan 2014” with a FSR: 1:1 Height Limit: 11.5 metres.
According to Andrew Palmer, Associate Director, Retail Investments at Savills Australia, Gosford is the third largest urban hub in NSW, strategically located 70kms north of Sydney and 95kms south of Newcastle. 
“The Central Coast is a major population growth area of NSW with a current population estimated at 337,765, AND IS expected to grow to 414,615 by 2036 (over 21% increase). There is also a large trade area catchment population with 16,000 in the MTA” he continued.  
The Gosford City Centre Masterplan 2031 plans to revitalise the city centre and sustainably managing projected growth. 
It aims to help achieve a residential target of an additional 10,000 residents and 6,000 new jobs by 2031.
According to Ben Stewart, Director, Retail and Residential at Mintus West Gosford represents a "fantastic opportunity" for Mintus to redevelop and reinvigorate the precinct to reflect current retail trends and position the asset for strong future growth. 
“We look forward to working with Coles, Council and the public to provide a convenient neighbourhood centre that suits the local area”. 
The Central Coast Council area’s Gross Regional Product was $13.72 billion in the year ending June 2017, growing 1.6% since the previous year. 
The Gosford City population as at 2018 is estimated at 173,593 and is forecast to grow to 189,195 by 2036.
 
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Mintus snap up West Gosford Shopping Centre through Savills

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The 123-year-old global real estate brand, Stanton Hillier Parker, has announced it will re-open its real estate arm in Australia.
It will be under the guidance of managing partner Eugene Evgenikos who said he was excited to re-launch a real estate brand with a global property legacy, almost 20 years since it was last seen in a real estate agency capacity in Australia. 
“We’ll be focussing on providing our clients with world-class service standards, expert advice and outstanding results underpinned by a passionate, highly-experienced management team,” said Mr Evgenikos, who was at Knight Frank in NSW metropolitan sales.  
“Leveraging our 123-year strong global property legacy, we’ll be creating truly invested partnerships that drive results and help our clients create a property legacy of their own.”  
Stanton Hillier Parker intends to offer commercial sales and transactions, capital markets advice, leasing, asset management, residential project marketing and valuations to private, institutional and government clients. 
The company has opened offices in the Sydney CBD and Mascot with a valuation office in Parramatta.
Stanton Hillier Parker is currently actively sourcing a new office in the Melbourne CBD. 
“Our unique proposition in the market is the opportunity to grow through an equity partnership model – in the same way as Stanton Hillier Parker’s major global real estate agency business started,” he confirmed.  
“Our brand pedigree and international recognition is a platform we will build on in Australia, and we look forward to announcing new offices and partnerships as we grow the platform.”
 new management, offering boutique property advisory services to a diversified range of clients Australia-wide. 
Stanton Hillier Parker was originally formed via the merger of Hillier Parker, first established in 1896 in the United Kingdom, and Stanton &amp; Sons Limited, established by Richard Stanton in Sydney in the late 1800s.  
The company has a rich heritage in Australia, having been responsible for the development of the Sydney suburbs of Rosebery and Haberfield. Richard Stanton was also the founder of the Real Estate Auctioneers and Agents’ Association of New South Wales.  
During the 1970s the company operated around the world, with businesses in Scotland, Australia, France, the Netherlands, Belgium, Germany, Italy, Portugal, Spain, Sweden, Switzerland and the United States.  
 
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Stanton Hillier Parker relaunches Australian real estate arm after two-decade absence

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."

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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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