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Stone Real Estate have opened a new Mosman/Neutral Bay office.
Marize Bellomo is to be the principal of the office.
Mrs Bellomo, also a valuer, has a track record of almost 20 years in real estate.
Mrs Bellomo said Stone’s business model instilled complete confidence making this the first time in her career that she had been unequivocal about shifting to another brand.
“I’ve met with many companies over the years and never felt there was a meeting of minds until I met with Stone Real Estate,” Mrs Bellomo said.
Stone Real Estate’s franchise director Luke Cameron said the agency could not ask for a more committed and energetic leader to take the helm of the Stone Mosman/Neutral Bay office.
“Marize is one of the most dedicated, determined and strategic operators we have come across and as such has a particularly high profile in the Lower North Shore which is a huge asset for the Stone brand,” he said.
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New Stone Real Estate office in Mosman/Neutral Bay opened

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EXPERT OBSERVATION
Housing market stabilisation depends on the response of owner occupiers to improving affordability.
Buyer sentiment provides a rough guide to how this is progressing.
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With the price adjustment in Sydney and Melbourne continuing and investor demand unlikely to return any time soon, an eventual stabilisation depends heavily on the response of owner occupiers to improving affordability. A recovery in buyer sentiment suggests improvements are already gaining some traction.
However, the measures of affordability that align best with sentiment also suggest further improvements will be required to generate a lift in demand. While Westpac now expects interest rate cuts to contribute to better affordability, price moves will need to do more of the ‘work’ than in previous adjustments.
There is little doubt that housing affordability and consumer sentiment towards housing are closely linked. Our previous research established a particularly close relationship between the ‘time to buy a dwelling’ index and an affordability measure that incorporates both deposit requirements and mortgage repayments.
Latest readings on both measures show buyer sentiment lifting a little in response to some easing in affordability pressures, although the gap to long run averages indicates affordability is still not back to ‘normal’.
The chart below shows the evolution of affordability over previous price corrections and the contributions from the three components: prices, mortgage rates and incomes. In each of these, falling rates and income growth provided assistance in restoring affordability. In contrast, the current adjustment is expected to see much less assistance from rates and is occurring against a backdrop of weak income growth.
This implies that price declines will need to do most of the ‘heavy lifting’ to generate an affordability improvement.
We can get some indicative estimates of how much further prices may need to move by looking at the price change required to return affordability to its 20yr average. The results point to about a 5% decline required nationally with more substantive moves in the 5-10% range for NSW and Vic, and milder moves across other states.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/Housing_Pulse/Housing_Pulse_Bites/2019-02/Housing-pulse-bite-2019-02-2.jpg" alt="">  
MATTHEW HASSAN is a Senior Economist for Westpac
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How do we restore housing affordability? Matthew Hassan

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Proposals to limit negative gearing and reduce capital gains tax concessions will cost a Labor Government $32 billion over just 10 years, according to modelling by the Property Investment Professionals of Australia (PIPA).
Their research found that limiting negative gearing to brand new investment properties as well as reducing the capital gains tax discount will "drive investors out of the market in droves and leave a gaping hole in government coffers."
PIPA chairman Peter Koulizos said the research showed that Labor’s assertion that their policy would save $32 billion over a decade was a flight of fancy when it was actually set to lose that amount because of drastically fewer investors in the market.
“Not only that, investors already pay almost four times in capital gains tax what they receive in negative gearing benefits over a 10-year period, so the government is already ahead financially,” he said.
The PIPA modelling found that an investor who bought a $675,000 property today would receive about $23,583 in negative gearing benefits over a decade, but they would pay $104,703 in capital gains tax if they sold the asset – leaving the Federal Government with a $81,118 net gain.
The modelling found that a Labor Government could lose between $10 billion and $32 billion over 10 years, plus fewer investment properties would drive rents higher and further hinder first home buyers from entering the market.
The modelling found:
<ul>
<li>If investment activity reduced by 15 per cent there would be 390,000 fewer properties available for rent with the total loss of capital gains tax revenue to government being $31.6 billion over 10 years. </li>
<li>If investment activity reduced by 10 per cent there would be 260,000 fewer properties available for rent with the total loss of capital gains tax revenue to government being $21 billion over 10 years.</li>
<li>If investment activity reduced by five per cent there would be 130,000 fewer properties available for rent with the total loss of capital gains tax revenue to government being $10.5 billion over 10 years.</li>
</ul>
Mr Koulizos said the modelling was not even worst-case scenario, given 45 per cent of investors indicated in the 2018 PIPA Investor Sentiment Survey that they would put their future investment plans on hold if Labor brought in the proposed changes.
“I have no doubt that limiting negative gearing and reducing capital gains tax concessions by the Federal Labor Party will discourage property investors from buying property,” Mr Koulizos said.
“Labor says they want to incentivize investors to buy new property, but our research shows that 93 per cent of investors buy established property as this has greater capital growth potential than new property."
He added, “under the proposed changes, investors will pay more capital gains tax, but since they have probably bought a new property that will mean lower capital growth and therefore reduced tax payable to the government.”
Mr Koulizos said Labor’s assumption that fewer investors would mean more first home buyers was incorrect with the ability to save a deposit being the main issue for first-timers.
“Saving a deposit for your first property has always been difficult and has been made even more so over recent years with the First Home Owners Grant restricted to new dwellings when more than 80 per cent first-timers buy an existing property,” he said.
Mr Koulizos said the reduction in revenue is likely to be even greater after the 10-year period as there would be fewer investors paying tax on their positively geared properties as well as paying capital gains tax on the strong equity growth that usually occurs after holding an established property for 10 to 20 years.
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Labor Government would be $32 billion worse off by limiting negative gearing: PIPA

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Quest Apartment Hotels has opened its latest hotel, Quest St Kilda Road, just weeks before Melbourne’s Australian Grand Prix.
Located between Commercial and Toorak roads, the apartment hotel is a short walk to the nearby Albert Park Lake circuit.
It provides access to Melbourne’s central business district and the bay-side suburb of St Kilda.
The apartment hotel was developed by EBG Development.
It features 104 serviced apartments including studio, one and two bedroom apartments.
The site forms part of the New Charsfield development, a mixed-use development integrating the heritage listed Charsfield Mansion.
Catherine Mapperson, has been appointed as the franchisee by the apartment hotel operator.
It is her third Quest franchise.
Quest St Kilda Road features complimentary WiFi, business lounge, a gymnasium and wheelchair accessibility.
Additional services include room service powered through Deliveroo, on-site carparking, valet dry cleaning and concierge, housekeeping and business administration services.
Quest St Kilda Road is one of eight new properties scheduled to open across Australia, New Zealand and the United Kingdom over the next two years including Burwood East (VIC), Joondalup (WA), Orange, North Sydney (NSW), Quest Tauranga Central, Quest on Tuam, Quest Mount Eden (NZ) and Liverpool (UK)
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Quest St Kilda Road opens its doors

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The NSW Liberals &amp; Nationals Government have approved the duplication of the full 31km stretch of the Great Western Highway, from Katoomba to Lithgow, by 2028.
Deputy Premier John Barilaro and Member for Bathurst Paul Toole announced the NSW Liberals &amp; Nationals Government will begin construction and design on $2.5 billion of upgrades in the next term of government.
Construction will begin in the following locations:
<ul>
<li>Medlow Bath Upgrade</li>
<li>Mount Victoria Bypass</li>
<li>Jenolan Caves Road to South Bowenfels</li>
</ul>
Planning and design will begin on:
<ul>
<li>Katoomba to Medlow Bath </li>
<li>Medlow Bath to Blackheath </li>
<li>Blackheath Bypass Tunnel </li>
<li>Blackheath to Mount Victoria</li>
</ul>
Mr Barilaro said the full duplication from Katoomba to Lithgow will deliver much improved safety and efficiency, improve freight access and cut travel times and the road toll.
Member for Bathurst, Paul Toole, welcomed the news, “The population in the Central West region is expected to grow by around eight per cent over the next 20 years, with the total number of vehicles travelling along the highway west of Katoomba expected to increase by at least 1.5 per cent each year.”
Mr Toole said. “The Great Western Highway duplication project will not only improve road safety and access, it will generate thousands of local jobs, primarily in construction and engineering but also in the many service sectors required to support such an enormous enterprise."
The NSW Liberals &amp; Nationals is currently undertaking $250 million in safety upgrades between Katoomba and Lithgow and has already completed upgrades on parts of the Great Western Highway between Emu Plains and Katoomba. 
Great Western Highway upgrades are to be delivered as part of a 10-year program.
The NSW Liberals &amp; Nationals Government will seek funding from the Federal Government to assist with the task.
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$2.5 billion Great Western Highway duplication approved

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A 50 per cent freehold interest in the MLC Centre at 19-29 Martin place in Sydney’s CBD is being offered for sale via international expressions of interest.
Savills Australia’s Ian Hetherington, Simon Fenn and Ben Azar, and Cushman &amp; Wakefield’s Josh Cullen and Mark Hansen, have been appointed to market the landmark asset.
The expressions of interest campaign for the MLC Centre ends April 11 2019.
The real estate investment trust, <a href="/expert-insights/investing/half-of-harry-seidlers-mlc-centre-to-be-sold-by-gpt">GPT Group announced it was selling its 50 per cent share of the MLC Centre</a> in January 2019.
It is speculated the stake could fetch $800 million. It has a $725 million book value.
GPT jointly owns MLC Centre with office landlord specialist Dexus who paid $722 million in 2017 when it was sold by QIC.
The 228 metre tall tower was designed by Harry Seidler. 
Mr Hetherington said the campaign was expected to attract interest from all major global investors, as it presented “a rare opportunity to secure an Australian icon”.
Located adjacent to the Sydney Metro project’s new Martin Place station, the MLC Centre comprises 67,408 sqm of prime office space across 57 floors, in addition to 10,305 sqm of prime retail space.
The property occupies one of Sydney’s largest freehold sites.
Mr Cullen said the projected strong rental reversion would be a key selling point for prospective buyers.
“Coupled with falling vacancy rates, the current market conditions in Sydney are poised to encourage positive rental reversion,” he said.
Mr Azar said the MLC Centre presented significant future upside opportunities through its DA-approved retail redevelopment, which will expand the retail offering on the site and utilise the 255-metre prime street frontage, especially along King and Castlereagh streets.
“The improvements seek to increase pedestrian foot traffic through the activation of laneways, and revitalise the heart of the MLC Centre to provide a more attractive precinct for tenants and visitors.”
<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/2019/3/6/MLC%20Centre%202.jpg" alt="">
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50% freehold interest in Sydney's MLC Centre on offer

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Accor is launching TRIBE a new brand in the lifestyle hotel sector.
This new hotel brand is designed for the midscale market.
TRIBE currently consists of one address (with 126 rooms) near the botanic garden at Kings Park, Perth, Australia – one of the largest inner-city parks in the world.
Ten other openings are already scheduled to take place by 2022 in Europe and Asia Pacific, totaling more than 1,700 rooms.
Gaurav Bhushan, chief development officer at Accor said, “The pipeline of over 50 hotels currently being negotiated for the coming years leads us to believe that the TRIBE brand will achieve significant growth all over the world including in gateway locations such as Paris, London, Singapore, Dubai Bangkok."
"It will be making its debut in 150 international destinations by 2030.”
In their rooms, guests will benefit from under-bed storage, Smart TV's and a Grab &amp; Go station which is available 24/7.
One night in Tribe Perth for a one bedroom "comfort room" cost's around $189.
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Accor launches new lifestyle brand TRIBE

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Colliers International are selling a newly rezoned, mixed-use development site in Arncliffe, for around $12 million. 
The site located at 96-102 Princes Highway, Arncliffe has been converted from industrial to high-rise residential.
It sits directly opposite the Arncliffe train station, with DA lodged for 83 residential units and ground floor commercial retail. 
The property sits within the NSW Department of Planning &amp; Environment's Bayside West Priority Precinct which was included in the Precinct Proposal and Draft Development Controls.
As a result the property has been earmarked for rezoning to Zone B4 Mixed Use with an increased FSR of 2.5:1 and an increased building height limit of 31 metres. 
The site currently has an existing factory with car rentals leasing on a short-term lease; at $165,000+ GST short term rental income. 
“This is an ideal opportunity for developers to acquire a development site with a quality existing building creating short term rental income whilst waiting for a pending DA approval from council,” said Trent Gallagher, National Director, Industrial at Colliers International, who is handling the sale of the asset. 
“There is the opportunity to increase the scheme to circa 100+ apartments following the DA existing approval by way of incorporating affordable housing into the development.” 
Located on a corner block, the property holds views to the Sydney CBD, Botany Bay and broader district and is a 200m walk to the Arncliffe town centre and shops. 
Expressions of interest for 96-102 Princes Highway, Arncliffe closes April 4 2019.
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New zoning creates development opportunity in Arncliffe

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The top floor and adjoining rooftop of an office building in Sydney’s Clarence Street has been converted from an office space in to a small bar.
The tenancy area, at <a id="LPlnk916895" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGUHy3spBOCCfFLglDoTHmqesgM+mcxwyUCRKS1hIdErI=&amp;rh=ff00472e71c63c37dd015ca7ab4d95943da1de41" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">4/199 Clarence Street</a>, was circa 88 sqm and came with an internal staircase to the rooftop above.
The site was leased by Ray White Commercial South Sydney’s John Skufris on behalf of a private owner.
Mr Skufris said the Old Mates Place team already secured a five-year lease of level 4, which was previously leased to an IT firm and had started trading after renovations.
<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/2019/2/19/20190215_121234.jpg" alt="">
“The rooftop has been completed with a timber decking and an outdoor bar area with views to Centrepoint Tower,” he said. Known as Villa Rose, 199 Clarence Street is a six-level office building including basement area which is occupied by Spawn Point, another small bar operator.
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Sydney office converted from workplace leased as rooftop bar

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The last piece of the Lakehouse Robina development has been placed on the market for the first time. 
The 3828 sqm development site with 68-metre water frontage is the remaining undeveloped parcel in the Lakehouse mixed use precinct, adjoining Robina Tavern and Robina Shopping Village precinct.  
It is owned by an unlisted property trust managed by Gold Coast-based Clarence Property Group. 
Zoned neighbourhood centre reflecting its central proximity, the flexible zoning allows for multiple potential uses including aged care, retirement, residential or commercial office. 
Clarence’s managing director Peter Fahey said the group was ready to complete the syndicate by selling the final piece of the Lakehouse Corporate Space project, following sellout of stage one and a positive response to the Lakehouse stage two release.  
“We are focussing on larger development projects we have in the portfolio at Casuarina Beach, Epiq Lennox Head and Yamba Quays, and it is timely for the investors in this syndicate to sell this waterfront site,” Mr Fahey said. 
Knight Frank Gold Coast’s Head of Commercial Sales James Branch and Colliers International Healthcare and Retirement’s broker Chris O’Driscoll have been appointed to handle the Expressions of Interest campaign closing 27 March.  
Mr Branch confirmed his expectation that strong demand would continue for Robina development sites, particularly with so few opportunities remaining. 
“The site fronts Robina’s tightly held prestige lakefront market and includes boardwalk access to the adjacent retail precinct,” he said. 
“A key driver for the success of this location is not only the waterfront outlook, but the multitude of amenities within one minutes’ drive ranging from Robina Shopping Village, Bond University, Robina Town Centre and Robina Train Station.” 
Colliers’ Chris O’Driscoll confirmed that with suitable zoning, a strong median house price point, an extensive population catchment and complimentary surrounding infrastructure, the Lakefront property is expected to attract interest nationally.
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Lakefront Robina site brought to market by Clarence Property

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."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

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