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GUEST OBSERVATION
A little-discussed facet of the real estate market is that people are not turning over their properties as fast as they used to.
It used to be that, on average, people would turn over their properties between three – four years, which of course meant that some people stayed in their properties forever whilst other people would turn over their properties within a year or two.
This was driven by a large pool of people who saw real estate as a money-making mechanism rather than buying homes to live in.
There were people who made a living out of buying properties, renovating and selling.
That trend has eased back significantly as the cost of doing so has become too significant that it is now also a higher risk proposition, and because there is a diminishing number of properties that are old enough to require major renovations.
As such, we are starting to see that people are staying in their properties significantly longer.
In the 12-months to July 2018, we saw a variety of turnover rates throughout Australia, with the regional areas having a higher turnover rate than the capital cities.
For example: Sydney saw a turnover rate of 4.1% but outside of Sydney it was 5.6%.
Regional Tasmania saw the highest level of turnover for all regions with 6.1%, whilst the lowest turnover levels were in Perth at just 3.3%.
Closer to home, we see the Gold Coast with quite a higher turnover rate at 7.2%.
In fact, on the Gold Coast, there were 18,206 sales out of 253,045 total dwellings.
This is a good healthy turnover which does continue to show the strong interest and demand for Gold Coast properties, but we are likely to continue to see the turnover rate soften, particularly in the current climate where there is greater uncertainty about the direction of the real estate market in the medium term.
I have had a significant increase in questions regarding what is going to happen to the real estate market should there be a change of Federal Government at our upcoming Election, and negative gearing be eliminated for the resale residential market.
Anyone who has negative gearing up until the time the new legislation passes through Parliament will retain those negative gearing rights.
This is likely to see a significant jump in the number of people looking to buy their investment properties in the period between the Election and the legislation passing Parliament, which could take two or three months.
This is also a very important window of opportunity for sellers of properties to be able to offer their property to that increased number of investors as undoubtedly there will be a pull forward demand by investor buyers pre the change of legislation, and then a significantly smaller number of investor buyers for resale properties after the legislation passes through.
This means some very careful strategy for both buyers and sellers. Key to that is the decision of which party is elected at the upcoming election.
Give it some careful thought.
It may well be if you have a property ideal for an investor that you should be selling, and we would love to hear from you so we can give you more information around that.
If you are wanting to take advantage of negative gearing and the Labor party is elected, then you need to do so before the new legislation passes through Parliament.
Andrew Bell is Chief Executive Officer of the Ray White Surfers Paradise Group.
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What to consider before negative gearing changes: Ray White's Andrew Bell 

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A low maintenance entry level Hermit Park unit has been listed for sale by its mortgagee with a price guide of $149,000.
It has been offered by Dayne Watson and John Bowen from First National Real Estate Nicholson. 
Located at<a href="https://www.realestate.com.au/property-unit-qld-hermit+park-131134566" target="_blank"> 1/18 Armstrong Street</a>, the second floor 55 square metre unit comes with two bedrooms with built-ins, patio area, lockup garage and new carpets. 
It's just a short walk to the Hermit Park Shopping Centre, St Margaret Mary's College and roughly seven minutes drive to the CBD.
The median price for a unit in<a href="/news"> Hermit Park </a>sits on $155,000, according to CoreLogic.
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Two bedroom Hermit Park, Queensland unit listed by mortgagee 

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Manenti Quinlan &amp; Associates, in conjunction with John Hannigan Real Estate Services, have listed the renowned, Ettamogah Pub, Albury.
The Australian icon is located off the Hume Highway, just 16 kilometres north of Albury on a 4.81ha site.
The original creator of the Ettamogah Pub was Ken Maynard who started drawing images of the Ettamogah Pub in 1959. 
It was made famous through his regular cartoons in The Australasian Post. The Ettamogah Mob cartoons, an iconic series of weekly cartoons, were published in the national magazine for nearly 50 years.
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As a boy Ken would cycle around a water hole called Ettamogah, an Aboriginal word meaning 'place of good drink'. This struck Ken as an ideal name for a pub and hence the infamous Ettamogah cartoons were born.
The actual pub dates back to 1987 when built by Albury businessman Lindsay Cooper.
Albury Ettamogah was used as the base to bring the Ettamogah brand into a themed restaurant and pub chain across Australia. 
Continual development has turned the Albury Ettamogah into a well- known tourist destination.
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In addition to hotel trade, the Ettamogah site offers a village with five retail shops, a reception centre, and large dining barn with structures close to completion. Lease negotiations are currently underway with a hairdresser and supermarket operator.
Leonard Bongiovanni of Manenti Quinlan and Associates said it best suited a hands-on operator.
The property has a mid-$3 million price guide with expressions of interest closing June 7.
It has been listed by Leigh O’Brien, who now has projects overseas, with the pub currently operating under management.
The sale includes Ettamogah memorabilia and a 25-year licensing agreement for the Ettamogah Pub name, with a further 25-year option, operating under a royalties scheme.
O’Brien previously held other Ettamogah pubs including one at Kellyville Ridge, in Sydney’s north west, now owned by Woolworths’ ALH, to which he licenses the Ettamogah name.
 
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The original Ettamogah Pub at Albury hits the market

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A Port Lincoln, SA mortgagee house has been listed for sale at a $45,000 reduction on it's previous sale price.
The two bedroom one bathroom house is currently listed with an asking price of $145,000.
Shane Merchant of Kemp Real Estate holds the listing.
Situated at <a href="https://www.realestate.com.au/property-house-sa-port+lincoln-131097966" target="_blank">13 Ellen Street</a>, the home was built in 1950.
Set on 830 sqm, the listing notes that the home would most likely require renovation.
Last sold in 2005, the home transacted for $190,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/news">Port Lincoln</a> is $305,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -1.2%.
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Port Lincoln, SA mortgagee house listed for $45,000 reduction on previous sale price

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The Labor Party’s plan to restrict negative gearing on newly built properties could lure in spruikers into the market, according to Property Investment Professionals of Australia (PIPA).
“When you financially incentivize people to buy a particular product, spruikers are not far behind because they see an opportunity to make a lot of cash very quickly,” said PIPA Chairman Peter Koulizos.
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The spruikers would endanger the financial lives of thousands of Australians, he said.
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Koulizos noted there is currently no legislation to protect consumers from dodgy operators pretending to be property investment experts.
Koulizos said that "financially bribing" investors to purchase new property will create the ideal conditions for spruikers to flood the market.
“It will be like the pink batts fiasco all over again, which was another terrible Labor policy,” he said.
“This time, it is an ill-conceived negative gearing proposal that is being rolled out too quickly and is likely to have financially catastrophic consequences for investors.
"We’re talking about people investing hundreds of thousands of dollars into properties that are likely to be over-priced and inferior in every way possible.”
Koulizos called for the urgent regulation of property investment advice is needed.
“If Labor’s absurd policy comes in, expect more investors to lose their life savings to corrupt charlatans who have no fear of the consequences because of the lack of regulation in the property investment advice space,” he said.
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PIPA says OTP spruikers will be poised after Labor win

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University of Sydney Business School associate professor Jamie Alcock said it was unfortunate Purplebricks had folded in Australia.
“I don’t think it was bound to fail, it was a market ripe for disruption,” Mr Alcock told Domain.
 “The [real estate agent] commissions in Australia are very high by international standards.
“There is a lot of money to be made. 
"It’s not a hugely complex task to sell residential property; a lot of it could theoretically be disrupted through some technological revolution or a new business model.
“When you see large fees and there are no huge technical skills or qualifications required, it’s disruptable.”
The DIY selling platform, forsalebyowner.com.au has offered to hire all 105 Purplebricks agents and migrate their 1400 listings to its online platform for free, after the British-based firm announced its intention to exit Australia this week.
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Australian real estate maket ripe for disruption: Sydney University professor

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The Star Sydney complex has unveiled the design for its Grand Foyer, part of the group’s $65 million update to its Pyrmont entrance.
The group bills the Grand Foyer as “the world’s first permanent indoor light and interactive digital art foyer in an integrated resort”.
The $22 million installation is “part light, part water and part digital art gallery”.
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Other inclusions to the property in the transformation project include a brand-new bar, luxury retailers and a new arrival experience.
The Star Sydney Chief Operating Officer, Dino Mezzatesta, said the work was part of the group’s plans to impress guests.
“Architecture, contemporary art and technology have converged to form an iconic showpiece that delivers a unique, unexpected and dynamic arrival experience for our guests,” said Mezzatesta.
“The new Grand Foyer includes a 25-metre-long, 8K resolution crescent shaped screen which will showcase the works of emerging and established Australian artists, university students, cinematographers and animators. 
“The screen content reacts dynamically to the real-world environment and human movement, encouraging guest interaction.               
“Inspiration behind the artworks was drawn from The Star’s proximity to the busy Sydney Harbour shoreline – and the constant ebb and flow of human activity within the Pyrmont area. 
“Alongside the digital canvas, is the first sculptural water installation of its design in the Southern Hemisphere – the ‘Aquatique’ artwork of falling water.
“The integration of Aquatique, LED screens, lasers, lighting and live performances is a world first for an entertainment precinct.” 
The work is being done in collaboration with lighting specialists Ramus Illumination, who was responsible for the permanent outdoor projection system at The Star Gold Coast.
Headed by Bruce Ramus, the firm has also created designs for artists including U2 and David Bowie, as well as events such as The Academy Awards, The Grammys and the Super Bowl Halftime Shows. 
“With The Star Sydney Grand Foyer arrival experience, we wanted to design an experience full of compelling encounters that enrich the journey. We envisioned a beautiful, unifying space that embraces and welcomes all people, and we believe we’ve achieved this,” said Ramus.
“We’ve turned light into an expressive platform in the form of the digital canvas. Through this, light animates to tell the story of the local environment, it is the light, movement and artistic expression of the community that shares the wider story of The Star and Sydney.”
The Grand Foyer work has been timed with the rebrand of Astral Towers and Residences to The Star Grand Hotel and Residences, following a $100 million investment to its hotel rooms and suites.
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Star Sydney unveils $22 million Grand Foyer interactive light installation design

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The property services group Oliver Hume has added more than $1.5 billion worth of new project land and apartment sales to its pipeline since Christmas.
The company’s developer clients are planning to bring a host of new projects to the market over coming months. 
So far in 2019 the company has been appointed to advise on 10 new projects by eight different developers across Melbourne and South East Queensland. The projects have a total sales value in excess of $1.5 billion.  
Oliver Hume Chief Operating Officer Julian Coppini (pictured below) said the new appointments reflected the company’s proven ability to understand a range of markets and provide developers with research and insights that deliver clear competitive advantage.
<img src="https://www.urban.com.au/images/2019/4/26/Julian%20Coppini.jpeg" alt="">
“In tight markets, understanding consumer trends is absolutely critical,” Coppini said.
“With more than 40 projects across the country in our portfolio we can deliver unmatched insights into not just the sales and marketing strategy but underlying project planning.
“Developing the correct product mix for the local market based on the latest demographic research, having an effective display village strategy and access to a large network of builders are just some of the areas where we add value and why more developers are choosing Oliver Hume.”  
In Victoria, the new appointments include 72 apartments at the East Side Village project at Hawthorn East (pictured top), 220 homesites ($55 million) at Maddingley for developer Werribee Vale Developments and an infill project at Greenvale with projected total sales of $9 million.  
The company is also preparing to launch two major new masterplanned communities in 2019 for long term client Villawood at Lara (1,179 lots, $300 million) and Sunbury (2,000 lots, $800 million). 
In Queensland, the company this year has been appointed to sell the balance of Tribeca’s $25 million OTTO project at Coomera; the $135 million, 600-lot Carver’s Reach project at Park Ridge for Golden Gate Property; the Arcadia Park Ridge project for developer Goldengrove; and a soon-to-be-launched project at Ripley. 
The company is also preparing to launch a major marketing campaign for Oliver Hume Property Fund’s The Verge project at Logan Reserve.  
Coppini said that despite recent softer market conditions in Melbourne and Sydney, developers were still bringing new projects to market. 
“The Melbourne and Sydney markets have been under pressure for the last nine months but we are still seeing quality developers, with good product, bring new projects to market,” he said.
“Developers that are able to adapt to the market and compete strongly are still well positioned to attract financeable buyers.
“In Victoria, where prices and volumes have been under the most pressure, there has been a distinct pivot by buyers to focus on small blocks and townhouse product. These more affordable options present less finance and valuation risk and are selling as fast as they can be made available.”
He said townhouses were becoming the preferred option for many buyers across inner, middle and outer Melbourne areas as the provide an affordable alternative to established housing. 
In Queensland, where the market has remained relatively stable over the last 12 months, the company has secured a number of new local developers as clients and extended its relationship with Defence Housing Australia (DHA). 
“With strong interstate migration, a stable economy and plenty of new infrastructure on the way we are quite optimistic about the South East Queensland market and that is manifesting in the number of developers pushing ahead with new projects,” Coppini said.
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Property services group Oliver Hume wins $1.5 billion of new projects

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Melbourne-based restaurant chain Dosa Hut have opened their first Gold Coast store after securing space at a convenience centre located in a central part of the region. 
The chain will occupy a 165 square metre tenancy at Crestwood Plaza in Molendinar after signing a five-year lease with options in a deal negotiated by Tanaka Jabangwe, Knight Frank’s Associate Director of Retail Leasing. 
Jabangwe said Dosa Hut had been looking for the right opportunity to open a store in the growing Gold Coast region for some time before leasing the Crestwood Plaza space.
“The tenant had been wanting to establish a presence on the Gold Coast for some time but was looking for the right space and this Molendinar shopfront ticked all the boxes,” he said. 
“Dosa Hut were seeking a central location in a suburban catchment with ease of access to major road networks, and Crestwood Plaza fit the bill on every aspect. 
“The convenience centre is situated on Olsen Avenue, which is a very busy thoroughfare with plenty of traffic passing estimated at circa 57,000 cars daily, which offered great exposure for the restaurant.” 
Dosa Hut, which serves south Indian cuisine, already operates 19 restaurants across Victoria, New South Wales, the Australian Capital Territory and Queensland, but the Molendinar restaurant is the first for the Gold Coast. 
“Crestwood Plaza offered a perceived geographical centre to service both the northern catchment and parts of southern Gold Coast with ease,” a spokesperson said. 
“We are confident in our food and believe the Gold Coast will appreciate the quality, authentic Indian food we have on offer.”
Located in the heart of a major Gold Coast growth district in Molendinar, Crestwood Plaza convenience centre fronts the booming Crestwood Heights residential estate, is adjacent to Bunnings Warehouse and opposite Griffith University’s future development land. 
The centre features over 190 car parks, a full line Supa IGA as anchor tenant and 17 other specialty stores. 
With limited vacancies remaining in Crestwood Plaza, Knight Frank are currently seeking interest from additional food and beverage establishments, health and fitness groups, allied health and/or medical. 
Jabangwe said the Gold Coast retail market continued to be largely driven by demand from local and interstate food and beverage operators. 
“After the Commonwealth Games we’ve seen an increase in enquiry from established operators seeking high profile positions across the city,” he said. 
“There has also been an increase in Asian cuisine offerings and national chains in strategic shopping centre positions particularly through the northern suburbs of the Gold Coast. 
“High-end food and beverage offerings have predominantly been focused around the traditional premium precincts of Surfers Paradise and Broadbeach with a surge in demand for southern Gold Coast positions between Mermaid Beach through to Palm Beach, but there is also plenty of demand from other operators for other suburban areas of the Gold Coast. 
“The suburban catchment offers a less seasonal serviceable population as it alleviates the predominant dependence on tourism spend as perceived in areas such as Surfers Paradise and Broadbeach. 
“Dosa Hut believe local community engagement is paramount to their success and this was one of the key reasons why the first store had to be in a central suburban area.”
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Dosa Hut restaurant chain opens first Gold Coast store in Molendinar

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March trade figures released today by the Australian Bureau of Statistics (ABS) showed strong year-on-year growth of 3.51%, with Queensland (5.30%) and Victoria (4.73%) posting healthy year-on-year improvements.
The Executive Director of the Australian Retailers’ Association (ARA), Russell Zimmerman said although softer than anticipated, the results were reasonably solid results. 
The clothing, footwear and personal accessories category recorded standout 5.88% year-on-year growth in March, with footwear, in particular, recording a 6.43% year-on-year increase.  
“Clothing and footwear retailers have continued to experience rising growth since the beginning of the year, and with colder months ahead we can only expect these figures will increase,” Zimmerman said.  
Cafés, restaurants and takeaway food services (4.77%) and food retailing (4.46%) both experienced spikes in sales during March, with supermarket retailers recording 5.40% year-on-year growth. 
“Although consumer confidence has dampened over the last few months, the staggering rise in retail spend across cafés, restaurants and takeaway food services and food retailing, shows that Australians are starting to spend on discretionary items again and treating themselves to small luxuries,” Zimmerman said. 
“It is also pleasing to see that, despite recent droughts and floods occurring across various parts of the country, supermarkets have managed to bounce back, recording considerable year-on-year growth.”
Across the country, Australian Capital Territory Queensland (5.30%), Victoria (4.73%), Australian Capital Territory (3.71%),Tasmania (3.67%), New South Wales (2.70%), South Australia (1.87%),Western Australia (1.14%) recorded substantial growth, while the Northern Territory (-1.30%) recorded negative growth in March. 
“Queensland, Victoria, and the Australian Capital Territory have once again experienced strong year-on-year growth for March, while Tasmania and New South Wales also continue to show impressive growth year-on-year,” Zimmerman said. 
“Although these figures are pleasing, the persistent decline in retail spending across the Northern Territory over the last seven months is still a serious concern and we hope to see it turn around soon.”
Zimmerman said that it was to be hoped that whatever the outcome of the imminent federal election, the resulting government would be able to govern effectively without interference and frustration from minor party crossbench Senators.
“We are happy to work with whatever government is elected, but our overwhelming preference is for whomever that is to be able to just get on with it without constantly being frustrated in the Senate, which has put a handbrake on the process of government for many years now,” Zimmerman concluded.
Monthly Retail Growth (February 2019 – March 2019 seasonally adjusted):
<ul>
<li>Department stores (1.56%), Cafés, restaurants and takeaway food services (1.49%), Clothing, footwear and personal accessory retailing (0.50%), Food retailing (0.41%), Household goods retailing (0.26%) and Other retailing (-0.59%). </li>
<li>Australian Capital Territory (1.69%), Queensland (1.45%),Northern Territory (1.42%),New South Wales (0.83%), Victoria (0.82%), South Australia (0.78%), Western Australia (-0.07%) and Tasmania (-0.95%).</li>
<li>Total sales (0.37%).</li>
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Year-on-Year Retail Growth (March 2018 – March 2019 seasonally adjusted):
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<li>Clothing, footwear and personal accessory retailing (5.88%), Cafés, restaurants and takeaway food services (4.77%), Food retailing (4.46%), Other retailing (3.50%), Household goods retailing (0.57%) and Department stores (-0.42%).</li>
<li>Queensland (5.30%), Victoria (4.73%), Australian Capital Territory (3.71%),Tasmania (3.67%), New South Wales (2.70%), South Australia (1.87%),Western Australia (1.14%), and Northern Territory (-1.30%).</li>
<li>Total sales (3.51%). </li>
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March retail trade figures show retail sector "chugging along": Australian Retailers Association 

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

Joel Robinson

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

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

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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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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