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A former CSIRO property in Highett is set to become one of Melbourne’s largest infill development sites following an anticipated sales campaign. 
Colliers International’s Trent Hobart, Peter Bremner, Hamish Burgess have been appointed on behalf of CSIRO along with transaction manager Urbis, to sell a 9.34 hectare site at 37 Graham Road in Highett.  
“Known as Park Village, this extraordinary development opportunity represents one of Melbourne’s largest and most flexible infill development sites that will capitalise on the Bayside area’s continued growth by delivering pre-eminent park-side residences,” Hobart said.  
“It is a unique and truly unrepeatable offering in a blue chip market, the market has been waiting a long time for this site to become available. It has been a four-year wait for the market’s biggest and best buyers to be given the opportunity to purchase this site. 
“This is the only 93,400 square metres residential development site in a premium south eastern bayside location so we expect all major developers locally, nationally and internationally to have an interest in this sale.” 
 <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/2019/5/7/Mark%20up%201.jpg" alt="">
Home to former CSIRO laboratories, the site will be sold with vacant possession and clear of all building improvements.  
“The site is prominently positioned between the Nepean Highway and Port Phillip Bay, nestled amongst some of Melbourne’s most exclusive suburbs such as Brighton, Hampton and Sandringham,” Bremner said. 
“Park Village at Highett is an increasingly rare large scale, predominantly townhouse opportunity, that is destined to become a world class urban village set in a prime park setting with the future residences surrounded by 4,000 sqm of parkland, situated next to a Highett Shopping including Woolworths and the Highett Train Station.”
The Park Village site is located immediately south of the recently completed full line Woolworths Shopping Centre, 100 metres from the Highett Train Station and positioned within the new generation café and retail strip of Highett Road.
As part of the sale process, the land will be re-zoned upon settlement to Residential Growth Zone and Development Plan Overlay - Schedule 2. Upon settlement, 4 hectares of the site area will be transferred to Bayside Council for public open space and conservation.  
The property is for sale via an International Tender campaign, closing Wednesday 19 June 2019.
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j.ballantyne1990-6AQqhLzZaK

Former Highett CSIRO site to be one of Melbourne’s largest infill development sites

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Australian fashion label Saba is the latest addition to Melbourne’s shopping strip Church Street, Brighton.
Fitzroy agent Mark Talbot negotiated the lease for 38 Church Street, located in the prime of the shopping strip, at $130,000 per annum plus outgoings and GST on behalf of a private owner.
“Church Street has retained its reputation as Melbourne’s best-performing retail strip for some time, boasting a strong mix of national retailers and fashion labels, as well as highly regarded local operators,” Talbot said.
Church Street boasts one of the tightest vacancies of Melbourne’s iconic shopping strips.
Fitzroys’ Walk the Strip report showed vacancies were crunched from 2.7% in 2017 to 1.3% in 2018.
“Opportunities for retailers to secure a prized Church Street location are rare and inevitably fiercely contested, reflecting the strip’s constrained supply and positioning within one of Melbourne’s most affluent and established consumer catchments,” Talbot said.
“Church Street’s enviable fundamentals will continue generating a long queue of retailers and operators seeking space in the strip.”
He said Brighton’s trading environment has been further bolstered with the introduction of medium-density residential developments in what is broadly a low-rise suburb, while the suburb is home to a number of highly sought after secondary schools.
Other transactions completed by Talbot in this section of Church Street, Brighton include prominent brands Lee Mathews and Flannel.
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Saba secures Church Street, Brighton store

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An adjoining owner has snapped up a significant office property in Forest Hill for $45.85 million as demand for commercial assets in metropolitan Melbourne continues. 
Colliers International’s Rob Joyes, Peter Bremner and Rachael Clohesy have negotiated the sale of 347-351 Burwood Highway in Forest Hill on behalf of a long-term Sydney based private investor.  
The 2.62 hectare Commercial 1-zoned site, which is home to two office buildings with a combined net lettable area of approximately 10,692 square metres, changed hands on a passing yield of circa 4%. The property was purchased from an offshore investor.  
“This purchase also represents the largest metropolitan office investment to transact so far in 2019,” Bremner said. 
The property was approximately 70% occupied at the time of sale with a weighted average lease expiry of approximately 3.4 years.
“Over the past two years, over $180 million of office investments have transacted within the Tally Ho Business Park precinct,” Joyes said.  
“Office investors are taking a long-term view of the Outer East market with a particular interest in land with existing Zoning flexibility and are anticipating land values will increase significantly in the years to come off the back of State Government investment such as the Suburban Rail Loop and Vicinity’s transformation of The Glen shopping precinct.” 
 <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/2019/5/7/CT_COL_347-351_Burwood_Highway_Forest_Hill_187.jpg" alt="">
The Outer East office market has bounced back after a period of high vacancy, Colliers International said.
Its latest Metro Office Research &amp; Forecast Report states that vacancy is currently at 8.74% in the Outer East, which is below the long-term average of 9.56%. 
“Due to the tightening of vacancy in the City Fringe and Inner East markets, tenants view the Outer East as a more affordable option,” Joyes said. 
Significant recent sales within the precinct include:
<ul>
<li>VicRoads, 12 Lakeside Drive, Burwood East - $25.5 million </li>
<li>Hewlett Packard, 353 Burwood Highway, Forest Hill - $88 million</li>
<li>CFA, 16 Lakeside Drive, Burwood East - $9.6 million </li>
<li>CFA, 8 Lakeside Drive, Burwood East - $18.08 million</li>
</ul>
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Investment continues in Forest Hill with $45.85 million office sale

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The Melbourne accommodation market continues to enjoy buoyancy, according to HTL Property’s latest report.
The research showed strong increases in visitor numbers, aided by attraction to the city via its many international and local sporting events, together with world-class conference facilities, has kept occupancy levels high, and in turn, ADR and RevPAR continue to be elevated.
“Victoria is a highly sought-after accommodation market to invest in, driven by its variety of visitors,” said HTL Property’s Head of Research Vanessa Rader.
“Strong international visitors dominated by the family market enjoy the Melbourne CBD location; while domestic visitors like to travel further out of town in order to explore the natural wonders, as well as the wine regions.
“Melbourne has done much to promote its town and attract visitors; as evidenced by the various sporting events regularly held, together with the growing arts scene the city's attraction as a conference destination, has kept occupancy high and ADR competitive.
“This market has seen some new supply added and will continue to do so over the next few years, which we anticipate will keep these indicators stable.
“While investors (notably offshore buyers) will continue to aggressively contest these assets, keeping investment yields some of the lowest in the country.”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%201.jpg" alt="">   HTL Property Director of Asia Pacific Region Andrew Joliffe said demand for accommodation assets remained high, however limited quality stock available to the market had resulted in 2018 recording a record low in sales volumes.
“Sales turnover for 2018 has exceeded $400 million, which is approximately 40% down on 2017 results; and well behind the highs achieved in 2015,” Joliffe said.   “The sale of Pullman on the Park in mid-2018 propping up these volumes, selling for $156 million to iProsperity Group, on a reported yield of 5.50%.   “With Melbourne CBD and surrounds enjoying strong visitor demand, regional activity has historically been limited, typically recorded at less than 5% of the total volume of sales.   “CBD assets continue to be in strong demand, with overseas buyers vying for these assets; the Quincy Hotel (under construction) being the only city hotel selling in 2018 to InterGlobe out of India for $91.3 million, (representing close to $380,000 per room).”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%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/2019/5/7/mel%202.jpg" alt="">   Jolliffe said interest in accommodation hotel assets across Australia was high, particularly by overseas investors.   “This is at its highest in Melbourne given the strong international visitor numbers as well as domestic visitor attraction; keeping investment yields some of the lowest in Australia,” he said.   “Currently, Victorian yields range from 4.30% to 7.75% with an average of 5.50%, which has compressed by 210 basis points in the last five years   “Offshore activity is high with buyers hotly contesting CBD and suburban assets within a short proximity of the city centre.”
Joliffe said Victoria was the second most visited state in Australia by international visitors behind NSW, while domestic visitors choose Victoria behind NSW and Queensland.   “Tourism forecasts highlight these higher international visitor nights in 2017/2018, reaching 76,629 representing a 7.13% increase over the last year, whereas domestic visitor nights of 65,994 represented just 0.67% improvement,” he said.   “Looking ahead, international visitor nights are forecast to grow on average 7.16% per annum over the next five years, while domestic nights projections are for 2.51% annual growth over the same period.”   Joliffe said recent data from STR illustrated that the Melbourne Accommodation market has been trending slightly behind prior years, albeit ADR had remained steady.   “New stock additions to the market has kept competition high, and put pressure on the occupancy levels and RevPAR,” he said   “The accommodation market is cyclical with the various trends obvious across the Melbourne market.
“High occupancy is enjoyed during three periods throughout the year, February–March, July–August and October–November.   “Most recent data for February 2019 highlights peak occupancy of 89.1% a new monthly high, with ADR recorded at $197.74.”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%203.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%203.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%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/2019/5/7/mel%204.jpg" alt="">
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Melbourne accommodation market remains buoyant: HTL Property

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Purplebricks Australia has announced its intention to exit the Australian market.
The decision comes amid the continued advertising campaign for listings by the celebrity builder, Barry Du Bois (below).
Even its revised fixed-fee sales model proved to be problematic for real estate agents, amid the slow down in the housing market.
Vic Darvey, the Purplebricks Group CEO said after much consideration it had "made the difficult decision to close the Australian business."
"We’ve been operating here for two and half years and, unfortunately, we have been unable to make the progress in the Australian market that we’ve wanted, despite the tireless efforts of our employees.
"Our present intention is that, over the next few months, we manage the process of closing down the Australian business in an orderly way, attempting to minimise disruption for both our people and our customers.
<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/2019/5/Du%20Bois.jpg" alt="">
"We will take no further listings in Australia, but intend to engage with our customers to finalise all existing agreements.
"This is not a decision we have taken lightly, but with market conditions becoming increasingly challenging, we do not believe that the prospective returns in Australia are enough to justify continued investment."  
Only last week UBS said the company was<a href="/news/purplebricks-not-likely-to-make-profit-in-australia-until-2022-ubs"> not likely to make money in Australia</a> until 2022.
Last month it was forecasted that Purplebricks would potentially have to close its Australian operations <a href="/news/purplebricks-australian-agency-may-need-to-be-abandoned-to-save-uk-mothership">to save the UK mothership</a>.
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<div class="column">
Michael Bruce, the group's founder and chief executive officer is stepping down from the business with immediate effect.
 In turn, the Board has appointed Vic Darvey, previously Purplebricks’ Chief Operating Officer, to the role of Chief Executive Officer and to the Board of Purplebricks.
Vic joined Purplebricks in January 2019.
</div>
</div>
</div>
</div>
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Purplebricks quits Australia after low commission model fails

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<div style="text-align: left;" align="center">Australian retail turnover rose 0.3 per cent in March 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. </div>
Following on the heels of a 0.9 per cent rise in February 2019. Ben Faulkner, Director of Quarterly Economy Wide Surveys said, "cafes, restaurants and takeaway food services (1.4 per cent) and Food retailing (0.4 per cent) led the rises with strength in food prices contributing to rises, especially in supermarkets and grocery stores."
"Clothing, footwear and personal accessory retailing (1.2 per cent) and Household goods retailing (0.2 per cent) also rose. The rises were partially offset by falls in Department stores (-1.5 per cent) and Other retailing (-0.4 per cent)". In seasonally adjusted terms, ABS found there were rises in Victoria (0.7 per cent), Queensland (0.6 per cent), New South Wales (0.2 per cent), Tasmania (0.4 per cent), South Australia (0.1 per cent), and the Northern Territory (0.7 per cent). The Australian Capital Territory was relatively unchanged (0.0 per cent) and Western Australia (-0.7 per cent) fell in seasonally adjusted terms in March 2019. The trend estimate for Australian retail turnover rose 0.3 per cent in March 2019. Compared to March 2018, the trend estimate rose 3.0 per cent.  Online retail turnover contributed 5.7 per cent to total retail turnover in original terms in March 2019. In March 2018 online retail turnover contributed 5.1 per cent to total retail. For the March quarter 2019, there was a fall of 0.1 per cent in seasonally adjusted volume terms.
The quarterly fall in volumes was led by Household goods retailing (-0.6 per cent), and Department stores (-1.2 per cent). Cafes, restaurants and takeaway food services (1.0 per cent), Other retailing (0.3 per cent), Food retailing (0.1 per cent), and Clothing, footwear and personal accessory retailing (0.3 per cent) all rose in seasonally adjusted volume terms.
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Australian retail turnover rose 0.3 per cent in March: ABS

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National residential listings decreased by 6.3% in April 2019, according to new figures from SQM Research.
Listings across the country dropped from 354,459 in March to 332,236.
All states experienced a decrease in property sales listings over the month, with Sydney experiencing the highest decrease at 11.1%.
It was followed by Melbourne at 8.9% and Canberra 8.8%. Darwin recorded the lowest decrease at 4.3%.
Compared to a year ago, national listings rose 2.2% with Melbourne recording the biggest increase of 18.2% year-on-year, followed by Canberra at 15.3% increase. Sydney only mustered a 0.7% increase year-on-year.
<table style="width: 454px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="72">
City
</td>
<td valign="bottom" width="78">
April 2018 Total
</td>
<td valign="bottom" width="85">
March 2019 Total
</td>
<td valign="bottom" width="78">
April 2019 Total
</td>
<td valign="bottom" width="71">
Monthly change %
</td>
<td valign="bottom" width="71">
Yearly change %
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Sydney
</td>
<td valign="bottom" nowrap width="78">
33,364 
</td>
<td valign="bottom" nowrap width="85">
37,813 
</td>
<td valign="bottom" nowrap width="78">
33,610 
</td>
<td valign="bottom" nowrap width="71">
-11.1%
</td>
<td valign="bottom" nowrap width="71">
0.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Melbourne
</td>
<td valign="bottom" nowrap width="78">
32,378 
</td>
<td valign="bottom" nowrap width="85">
42,001 
</td>
<td valign="bottom" nowrap width="78">
38,277 
</td>
<td valign="bottom" nowrap width="71">
-8.9%
</td>
<td valign="bottom" nowrap width="71">
18.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Brisbane
</td>
<td valign="bottom" nowrap width="78">
30,419 
</td>
<td valign="bottom" nowrap width="85">
33,815 
</td>
<td valign="bottom" nowrap width="78">
31,476 
</td>
<td valign="bottom" nowrap width="71">
-6.9%
</td>
<td valign="bottom" nowrap width="71">
3.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Perth
</td>
<td valign="bottom" nowrap width="78">
26,548 
</td>
<td valign="bottom" nowrap width="85">
28,114 
</td>
<td valign="bottom" nowrap width="78">
26,178 
</td>
<td valign="bottom" nowrap width="71">
-6.9%
</td>
<td valign="bottom" nowrap width="71">
-1.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Adelaide
</td>
<td valign="bottom" nowrap width="78">
16,235 
</td>
<td valign="bottom" nowrap width="85">
17,370 
</td>
<td valign="bottom" nowrap width="78">
16,355 
</td>
<td valign="bottom" nowrap width="71">
-5.8%
</td>
<td valign="bottom" nowrap width="71">
0.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Canberra
</td>
<td valign="bottom" nowrap width="78">
3,895 
</td>
<td valign="bottom" nowrap width="85">
4,928 
</td>
<td valign="bottom" nowrap width="78">
4,492 
</td>
<td valign="bottom" nowrap width="71">
-8.8%
</td>
<td valign="bottom" nowrap width="71">
15.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Darwin
</td>
<td valign="bottom" nowrap width="78">
2,089 
</td>
<td valign="bottom" nowrap width="85">
2,047 
</td>
<td valign="bottom" nowrap width="78">
1,960 
</td>
<td valign="bottom" nowrap width="71">
-4.3%
</td>
<td valign="bottom" nowrap width="71">
-6.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="72">
Hobart
</td>
<td valign="bottom" nowrap width="78">
2,270 
</td>
<td valign="bottom" nowrap width="85">
2,503 
</td>
<td valign="bottom" nowrap width="78">
2,335 
</td>
<td valign="bottom" nowrap width="71">
-6.7%
</td>
<td valign="bottom" nowrap width="71">
2.9%
</td>
</tr>
<tr>
<td nowrap width="72">
National
</td>
<td nowrap width="78">
325,147 
</td>
<td nowrap width="85">
354,459 
</td>
<td nowrap width="78">
332,236 
</td>
<td nowrap width="71">
-6.3%
</td>
<td nowrap width="71">
2.2%
</td>
</tr>
</tbody></table>
Louis Christopher, Managing Director of SQM Research, said it's not uncommon to see the decline due to the holiday month we've just had.
“The decrease is mainly due to the Easter long weekend and ANZAC day public holidays in the month of April which had only 3 weekends of trade compared to March which had 5 weekends," Christopher said.
"That said, I note Sydney listings are now only up by just 0.7% year on year.
"If Sydney listings are starting to peak that could be a sign we are getting closer to the bottom in this downturn.
"However the election could also be having an impact here, with both buyers and sellers waiting until the election is over before making decisions on buying and selling.” 
Asking Prices 
Capital city house asking prices increased marginally by 0.1% but units decreased by 0.6% for the month to 30 April 2019. The average unit asking prices are now $559,900 and houses $908,800. 
Darwin’s unit price had the highest decrease at nearly 10% over the month followed by Hobart with a 5.3% decrease in unit prices. However, Hobart’s house prices saw the highest increase at 1.4% over the month.
Sydney’s house and unit prices each dropped by 0.5% over the month. The average house price in Sydney is now $1,229,100 and a unit is $686,500 – both back to 2016 prices. 
Sydney’s 12 month decline is now 9.3% for houses and 5.8% for units. Melbourne’s house and unit prices also continue to decline over the 12 months to 30 April at 7.1% and 0.1% respectively. 
Perth experienced a marginal growth in house prices of 0.3% but unit prices continue to decline at 0.1%. 
Year-on-year capital city asking prices also posted declines of 6.5% for houses and 3.8% for units.
Hobart continued to show the strongest growth year-on-year for houses with a 7.9% increase but units declined 0.3% over the 12 months.
SQM Research Weekly Asking Prices Index
<div style="text-align: left;" align="center">
<table style="width: 426px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="2" width="156">
Week ending: 30 Apr 2019
</td>
<td width="64">
Asking Price
</td>
<td width="72">
Change on previous week
</td>
<td width="70">
Rolling month % change
</td>
<td width="64">
12 month % change
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=nsw-Sydney&amp;type=c&amp;t=1">Sydney</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
1,229.2
</td>
<td valign="top" nowrap width="72">
-4.3 
</td>
<td valign="top" nowrap width="70">
-0.5% 
</td>
<td valign="top" nowrap width="64">
-9.3% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
686.5
</td>
<td valign="top" nowrap width="72">
-0.7 
</td>
<td valign="top" nowrap width="70">
-0.5% 
</td>
<td valign="top" nowrap width="64">
-5.8% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=vic-Melbourne&amp;type=c&amp;t=1">Melbourne</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
937.2
</td>
<td valign="top" nowrap width="72">
2.3 
</td>
<td valign="top" nowrap width="70">
0.7% 
</td>
<td valign="top" nowrap width="64">
-7.1% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
543.8
</td>
<td valign="top" nowrap width="72">
-0.8 
</td>
<td valign="top" nowrap width="70">
-1.3% 
</td>
<td valign="top" nowrap width="64">
-0.1% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=qld-Brisbane&amp;type=c&amp;t=1">Brisbane</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
616.7
</td>
<td valign="top" nowrap width="72">
0.1 
</td>
<td valign="top" nowrap width="70">
0.2% 
</td>
<td valign="top" nowrap width="64">
1.0% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
372.1
</td>
<td valign="top" nowrap width="72">
-0.2 
</td>
<td valign="top" nowrap width="70">
-0.9% 
</td>
<td valign="top" nowrap width="64">
-2.4% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=wa-Perth&amp;type=c&amp;t=1">Perth</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
667.9
</td>
<td valign="top" nowrap width="72">
-1.1 
</td>
<td valign="top" nowrap width="70">
0.3% 
</td>
<td valign="top" nowrap width="64">
-2.9% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
383.3
</td>
<td valign="top" nowrap width="72">
-0.2 
</td>
<td valign="top" nowrap width="70">
-0.1% 
</td>
<td valign="top" nowrap width="64">
-4.0% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=sa-Adelaide&amp;type=c&amp;t=1">Adelaide</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
512.2
</td>
<td valign="top" nowrap width="72">
0.3 
</td>
<td valign="top" nowrap width="70">
-0.3% 
</td>
<td valign="top" nowrap width="64">
0.6% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
300.3
</td>
<td valign="top" nowrap width="72">
-1.0 
</td>
<td valign="top" nowrap width="70">
-0.3% 
</td>
<td valign="top" nowrap width="64">
-1.5% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=act-Canberra&amp;type=c&amp;t=1">Canberra</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
818.9
</td>
<td valign="top" nowrap width="72">
0.9 
</td>
<td valign="top" nowrap width="70">
-0.0% 
</td>
<td valign="top" nowrap width="64">
3.1% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
421.3
</td>
<td valign="top" nowrap width="72">
0.6 
</td>
<td valign="top" nowrap width="70">
0.2% 
</td>
<td valign="top" nowrap width="64">
1.0% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=nt-Darwin&amp;type=c&amp;t=1">Darwin</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
585.0
</td>
<td valign="top" nowrap width="72">
-0.2 
</td>
<td valign="top" nowrap width="70">
0.2% 
</td>
<td valign="top" nowrap width="64">
-1.4% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
362.5
</td>
<td valign="top" nowrap width="72">
-5.8 
</td>
<td valign="top" nowrap width="70">
-9.9% 
</td>
<td valign="top" nowrap width="64">
-4.8% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?region=tas-Hobart&amp;type=c&amp;t=1">Hobart</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
515.0
</td>
<td valign="top" nowrap width="72">
5.4 
</td>
<td valign="top" nowrap width="70">
1.4% 
</td>
<td valign="top" nowrap width="64">
7.9% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
304.2
</td>
<td valign="top" nowrap width="72">
-2.2 
</td>
<td valign="top" nowrap width="70">
-5.3% 
</td>
<td valign="top" nowrap width="64">
-0.3% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?national=1&amp;t=1">National</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
566.9
</td>
<td valign="top" nowrap width="72">
0.7 
</td>
<td valign="top" nowrap width="70">
-0.3% 
</td>
<td valign="top" nowrap width="64">
-0.4% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
377.0
</td>
<td valign="top" nowrap width="72">
-0.2 
</td>
<td valign="top" nowrap width="70">
0.9% 
</td>
<td valign="top" nowrap width="64">
0.1% 
</td>
</tr>
<tr>
<td rowspan="2">
<a href="https://sqmresearch.com.au/graph_median_weeks.php?avg=1&amp;t=1">Cap City Average</a>
</td>
<td valign="top" nowrap width="65">
All Houses
</td>
<td valign="top" nowrap width="64">
908.8
</td>
<td valign="top" nowrap width="72">
-1.9 
</td>
<td valign="top" nowrap width="70">
0.1% 
</td>
<td valign="top" nowrap width="64">
-6.5% 
</td>
</tr>
<tr>
<td valign="top" nowrap width="65">
All Units
</td>
<td valign="top" nowrap width="64">
559.9
</td>
<td valign="top" nowrap width="72">
-0.6 
</td>
<td valign="top" nowrap width="70">
-0.6% 
</td>
<td valign="top" nowrap width="64">
-3.8% 
</td>
</tr>
</tbody></table>
</div>
Source: <a href="http://www.sqmresearch.com.au/" target="_blank">www.sqmresearch.com.au</a> 
</body></html>

Property listings decreased in April: SQM Research 

<html><body>
There’s something about any holiday break.
It allows people with downtime to pause, reflect, seek feedback from friends and family and then react - and it certainly applies to property market sentiment.
Traditionally everyone returns from their summer break, tanned and feeling refresh, brimming with new-found optimism.
Hence most years – including 2019 – begin with stronger auction success rates than those that had seriously tailed off in the overburden exhaustion and distractions of December.
I can only recall one Christmas break that didn't then see a stronger start for the property market.
Easter is another pause in the sales marketing calendar, which allows the potential buyers and sellers time to reflect.
But that’s where Easter’s similarity to Christmas ends.
It tends to present itself as a rather more unwelcome interruption to marketing campaigns. 
This year's timing was later than many years, so vendors had plenty of opportunity to list ahead.
But there wasn't the typical rush to have properties sold before Easter – no super Saturday – and that might have also been partly because it overlayed with the NSW school holidays meaning vendors and their agent deemed many buyers to be otherwise preoccupied.
The listing market wasn't helped by the encroaching election and the nervousness as to its outcome.
The election will do more than just push listings to Saturdays on either side of election day, May 18.
Many agents reckon what happens after Easter sets the tone for the rest of the year, but this year it will be what happens post-election.
Estate agents have been increasingly complaining of a shortage of stock, but what they really mean is new sellable listings.
After all unsold private treaty stock sits at 26,000 plus houses and apartments, according to CoreLogic.
The consensus is that given that new listings remain a little light on, there’s a good chance of the auction clearance rate remaining at the current level or higher through winter.
But things are very fragile.
Prices are of course down, especially for stale stock, and this pricing revision has finally resonated through to vendor consciousness. Well slightly more than half of them, who are selling under the hammer.
Sydney currently ranks as the nation's strongest capital city auction market, a position it has held since mid February when it took the mantle from Adelaide.
Sydney's preliminary clearance rate also sits higher than this time last year.
But CoreLogic calculates Sydney prices are off in Sydney by close to 14 percent for their peak. That's almost double the national decline, but Sydney did rise by the highest level during the boom, up by around 75 percent. Sydney values are down $125,000. In regional NSW, values have declined by four percent or around $18,000.
And so given the choice many would-be vendors have understandably decided not to list, or do so publicly.
Therefore buyers face limited fresh choices and accordingly auctions prices can still sell at higher that the pre-auction marketing campaign estimate for quality property.
But there are plenty of losers. 
Cameron Kusher at CoreLogic expects the declines to continue over the coming months.
"With advertised stock levels remaining high and mortgage rates tracking around the lowest level since the 1960s (and potentially moving even lower later this year), active buyers are back in the driver’s seat to take advantage of improved housing affordability and the low cost of debt," he says.
 
</body></html>

The election result will set the scene for the remaining 2019 property outlook 

<html><body>
The alleged former Pilbara Ponzi scheme queen, Veronica Macpherson, has returned to establish a new property business, according to the ABC.

Despite being permanently banned from providing financial services, Ms Macpherson is behind a new cooperative enterprise which aims to develop housing for Pilbara workers.

It comes just three years after the collapse of her Macro group of Pilbara property development companies, with the creditors owed more than $285 million.

Her latest venture — the Pilbara Liveable Cities Cooperative — was approved by the WA Government last year, the ABC reported.

She has registered a distributing cooperative, meaning profits are dispensed to members.

Cooperatives are regulated by state governments and not ASIC.

Ms Macpherson told the ABC that the cooperative enterprise would help her deliver her goal of providing liveable cities in the Pilbara. 

"I am supporting a number of developments who can't raise finance," she said.

"Everyone's looking to me for a solution."

An ASIC spokesman said she was not allowed to arrange any investment in a cooperative or provide financial advice on making such an investment. 

ASIC had advised Ms Macpherson of its opinion.

<h2>Ms Macpherson's bankruptcy also prevents her from being involved with managing a cooperative under WA laws.</h2>

Ms Macpherson described it as a social enterprise, involving some people who had been involved with Macro. 

"I will be a member and a service provider — marketing and corporate advisory for the businesses and developers that we support — until such time as my bankruptcy comes to an end," she said. 

She has also suggested to Macro investors that the enterprise could help them get their money back, 'with outstanding interest following in the next twelve months," her newsletter said.

The disclosure statement outlines the membership structure of her cooperative:

<ul>
<li>"Custodians", who provide property development, management and maintenance services, as well as health and wellbeing services for FIFO workers</li>
	<li>"Pioneers", who will use these services, and "Champions", who will fund the services.</li>
	<li>"Custodians" pay $100 a share and have full voting rights, "Pioneers" will pay annual investment fees of between $120 and $12,000 for no voting rights, while "Champions" can buy a Cooperative Capital Unit, a fundraising vehicle, for $1000 and limited voting rights.</li>
</ul>
The ABC went to an Australian expert on cooperatives, Professor Tim Mazzarol of UWA Business School, who said this structure was not in keeping with the spirit of a cooperative.

<div class="inline-content photo right"> </div>

<div class="inline-content photo right">New off-the-plan developments for sale in Western Australia</div>

<div class="inline-content photo right">[smartcode_project:default project_id=7836]</div>

<div class="inline-content photo right">[smartcode_project:default project_id=7854]</div>

<div class="inline-content photo right"> </div>
</body></html>

Alleged former Pilbara Ponzi queen Veronica Macpherson returns

<html><body>
Manly’s Hotel Steyne has been sold.
Sydney's popular northern beaches pub has been bought by Iris Capital founder Sam Arnaout whose said he was "delighted" to have bought the pub.
"We intend to get a good feel for the asset and work with the locals to return their pub to its former glory," Mr Arnaout said.
It was listed for sale in February.
Arnaout said the Steyne positioned Iris Capital as a "genuine hospitality leader in this part of the world, and complements our macro coastal investment strategy in respect of similar landmark projects such as Newcastle's $700 million East End development".
The Steyne will boost Iris Capital's portfolio to 20 pubs across Sydney, including the Grand Hotel, Bondi Junction; Golden Tiger, Hurstville; Gaslight Inn, Darlinghurst and Peden's Hotel in Cessnock.
Iris Capital beat out other contenders by paying between $60 and $80 million for the iconic pub.
Nine Entertainment suggest it was $65 million.
HTL Property would not be drawn on the sale price, however described it as a “record price” in their official statement.
<div class="wp-caption">
The Manly Daily reported the shortlist of five, included two international buyers, two from Sydney and one from interstate.
</div>
It was reduced to a final two.  
The landmark and multi-level beachfront hotel, spread across approximately 2000sqm, was offered by a consortium that comprised businessman John Singleton, hotelier Arthur Laundy and investors Robert Whyte and Mark Carnegie.
They paid about $30 million for the property in 2010, and have reportedly spent about $5 million.
Speaking to the Manly Daily, Mr Laundy said that he was happy with the outcome, both from a sale price perspective and the new buyer.
He said he had bought and sold more than 90 hotels in his almost 60 years as a publican, and Hotel Steyne would easily be in his top 10.
 
</body></html>

Sam Arnaout buys Manly's Hotel Steyne

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

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

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

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

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