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EXPERT OBSERVATION
Australia’s home renovations sector enjoyed its busiest quarter in 14 years during the three months to September 2018.
While GDP grew by a fairly disappointing 0.3% during the September 2018 quarter, home renovations activity provided more cheer.
The volume of renovations work rose by 4.5% during the quarter alone and was 11.0% higher than a year ago.
Times have often been tough for Australia’s home renovations market over the past decade but today’s figures show that the market is now bigger than at any time since mid-2004.
While new home building scaled new records over recent years, the performance of renovations activity has been quite puzzling and had failed to replicate this strong performance.
The stronger position of the renovations market during the September 2018 quarter is linked to the fact that interest rates are very low and remarkably stable at this time.
The tightening of credit conditions have prevented many families from being able to move house over the past year. It seems that some of those have decided to renovate their existing home instead.
Australia’s home renovations industry may be an unintended beneficiary of the tougher lending policies.
Looking further out, we are almost certain to see further gains for home renovations.
More detached houses were built in late 1980s Australia than at any time before or since.
More and more of these will be begging for major renovations work in the coming years.
SHANE GARRETT is the MBA Chief Economist.
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j.ballantyne1990-6AQqhLzZaK

Australia's home renovations had the busiest quarter in 14 years: Shane Garrett

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A contemporary Hawthorn East home from award-winning Fiona Lynch amidst Amanda Oliver gardens has just been sold for $4.15 million. 
It has been sold by Tim Picken and Rebecca Edwards from Kay &amp; Burton Hawthorn. 
Set on a 915sqm block, the single storey house at <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn+east-129776890" target="_blank">46 Leura Grove </a>comes with four bedrooms plus study, lounge room with fireplace, family dining area and living room opening to BBQ deck, and Carrara marble kitchen. 
<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/2018/12/3/hawthorn%20east%202.jpg" alt="">
Additional features include a solar-heated pool, ducted heating/cooling, electric blinds, travertine, and Oak flooring plus extra-wide remote-control double garage. 
It is close to Camberwell Junction, Tooronga Village shopping, Burke Road trams, Auburn South Primary School and Auburn High plus prestige private schools including Bialik and Scotch Colleges.
<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/2018/12/3/hawthorn%20east%203.jpg" alt="">
The property had last sold for $1.62 million in 2007 before the renovation.
The suburb's median house price sits at <a href="/developments/hawthorn-east-vic-3123">$2.1 million</a>, according to CoreLogic. 
 
 
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Award-winning Fiona Lynch home in Hawthorn sells

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A Gold Coast family has spent more than $15 million on three rural properties sold by the State Government that were earmarked for the abandoned Glendowner Dam project at Beaudesert.
The auction last Friday saw the properties sold for a combined $15.8 million.
Ray White Rural reportedly sold the three properties to an undisclosed Gold Coast family who bought them to create one landholding.
Ray White Rural Queensland agent Peter Douglas said there were 45 registered bidders.
“Throughout the campaign we had buyers come from interstate but today all three sold to one Gold Coast based family who have bought them to turn into a farm,” he told The Courier Mail.
A 556 hectare holding sold for $11.5 million in an auction with 14 registered bidders while a multi-titled 146.6 hectare parcel sold for $3.1 million and a 75 hectare lot went for $1.2 million.
Close to the Gold Coast, the properties are about 60 kilometres from Southport and 70 kilometres from Brisbane.
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Former Glendowner Dam, Beaudesert project land sold for $15.8 million

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Australia based property development and investment group Aqualand have acquired a residential development site in Alexandria.
Situated at 59-99 Belmont Street, Alexandria, the project (pictured above as a sketch) is positioned within close proximity to the new Waterloo Metro station, education facilities and numerous parks.
John Carfi, CEO, Aqualand said: “This project further reinforces Aqualand’s strategy of being the leader in any market we play in, with the property representing a unique and exciting opportunity to create an exclusive residential building comprising circa 25 x 3-bedroom premium apartments and terraces, designed for owner-occupiers.”
"We aim to be one of Sydney’s most active property companies in 2019,” Aqualand’s Head of New Business, Sales &amp; Marketing, Alex Adams said.
Aqualand purchased 59-99 Belmont Street, Alexandria (pictured below) on November 30 for an undisclosed price.
<img src="https://www.urban.com.au/images/2018/12/5/Alexandria%20site%202.JPG" alt="">
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Aqualand secures Alexandria development site

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Dwelling investment increased 1.0% in the quarter, and has risen in each of the last four quarters, according to the Q3 Report released by NAB.
However this quarter, NAB found that the increase was entirely driven by alterations &amp; additions (up 4.5% q/q), as investment in new dwellings fell 0.8% q/q.
Alongside the cooling in the housing market, NAB expect dwelling investment to decline over the next couple of years.
Alan Olster, NAB Group Chief Economist said that a pull-back in new building approvals is already evident, though the large pipeline of work yet to be done will provide some support, suggesting the real weakness will likely occur in 2020.
<img src="https://www.urban.com.au/images/2018/12/5/NAB%20Q3.JPG" alt="">
The report also found that underlying business investment declined for the second consecutive quarter (-1.9% q/q).
Reflected largely by a fall in non-dwelling construction (-5.6% q/q) as both new building and new engineering construction declined.
Mr Olster noted, "the weakness in non-dwelling construction appears to be at least partly related to the mining sector as despite overall non-mining investment being up (1.0% q/q),  mining sector investment declined 7.5% q/q."
"There was a large fall in Northern Territory non-dwelling construction, he added"
As the tail-end of the construction phase of the LNG mega-projects wraps up, NAB expect mining investment to stabilise, with some potential upside given the improvement in business conditions in the sector.
Following the latest releases of growth, labour market and prices data, NAB have stated they are reassessing their view on monetary policy.
They currently have the next cash rate movement forecast as an increase in mid 2019, but are in the process of reviewing this statement.
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Increase in dwelling investment driven by renovations: NAB

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Little Projects has announced that chairman, Paul Little will sell his portion of the property development business to existing directors Leighton Pyke and Paris Lechte (pictured above).
They will take over controlling interest in the company effective 1 January 2019.
The decision comes as Little Projects seeks to implement a site acquisition strategy with a focus on growing a diverse pipeline across medium scale residential, industrial, hotel and student accommodation sectors. 
"It's just that property is very lumpy and it's also very time consuming and it's a good time to transition out of a full development role into an investment role," Little advised.
Pyke and Lechte have both worked alongside Little at executive level and on the board of Little Projects, which has delivered award winning residential and commercial buildings within Australia and New Zealand during the last decade. 
Little will remain an advisor to Little Projects and will continue to invest in new projects that meet the group’s overall objectives.
He will retain ownership of his other businesses including Little Real Estate, aviation and the subdivision that owns broadacre sites at Suffolk Park and Dayton, north-east of Perth. 
"The market in WA has been through a more difficult phase but it appears to be straightening out now," he said. "It would probably be a mistake to look at selling out of the estates we currently have."
The restructure in the business will not affect the ownership and delivery of the current project pipeline in any way, Pyke said.
"The strong synergistical fit of Little Projects and Little Real Estate will continue to deliver a seamless solution for our customers," he said.
Little confirmed that the Little Group Offices would still be keen to invest in the property development sector via Little Projects where strategic benchmarks were met.
Little also confirmed that other activities within the expanding Little Group would be unaffected this announcement.
Little, who turned 71 this week, said the sale of the business to development director Mr Pyke and construction director Mr Lechte would allow him to stop playing a full-time development role and focus on investing in his current projects and some new ones. 
"There's no scaling down at all," Little told Nine's The Australian Financial Review.
Financial documents filed with regulator ASIC show net profit after tax for the company in which Mr Little is the sole shareholder more than halved to $10.3 million in the year to June from $24.8 million a year earlier. 
Sales revenue jumped to $60 million from $12.7 million as site acquisitions also jumped to $52 million from $10 million.
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Paul Little to sell out of Little Projects to existing directors

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Sydney and Melbourne should prepare for a big drop in housing value, according to finder.com.au.
Finder asked experts and economists to weigh in on ANZ Bank forecasting a 15-20% fall from peak house prices in Sydney and Melbourne.
The majority of experts surveyed (15/21, or 71%) said they agreed with ANZ’s assessment.
Graham Cooke, Insights Manager at finder.com.au, said that economists’ predictions of drops in the property market have become more dramatic.
“ANZ’s suggested 15% drop would see $145,500 and $118,500 wiped off the average house price in Sydney and Melbourne respectively," said Cooke. 
“A 20% drop would see nearly $200,000 disappear from the equity of Sydney homeowners,” Cooke said.
<img src="https://www.urban.com.au/images/2018/12/5/Finder%20Table%201.JPG" alt="">
Interestingly, economists were evenly split as to whether the housing downturn would result in more or fewer renovation projects.
“There is however solid agreement that there’ll be fewer new homes built in 2019,” Cooke said.
The Finder Survey showed that two-thirds of experts (14/21, or 66%) expect less construction, with 38% of experts predicting there’ll be at least a 10% drop in construction of new homes in 2019.
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Sydney house values could plummet by nearly $194,000: Finder

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In Kerang’s main street the former State Savings Bank property on the corner is for sale.
The two-storey building at the corner of Scoresby and Fitzroy Streets has a land area of 513 square metre with a total building area of 315 square metres across two levels.
The vendor has owned the property since 1980.
It recently underwent a professional refurbishment including installing a new kitchen.
Over the last 12 months the red brick bank building has been renovated so it can operate as a single residence, with potentially as many as three additional tenanted spaces on the ground and upper floor.
Features such as leadlight and stained-glass windows, the 300 millimetre wide timber skirting boards, the 4 metre (or 13 foot) room ceiling heights have been retained together with an original timber staircase and balustrading.
On the ground floor remains the original Chubb vault.
Part of the building ground floor is served by a reverse cycle ducted air conditioning with other areas having wall mounted units.
The former Kerang SSB building has been listed for private sale through local Rodwells Ruralco Property agent Tanya Harvey with a sale expectation in the range of $320,000 to $350,000.
Harvey estimates the rental potential depending upon how flexibly the living spaces are shared as being in the range from $450 to $610 per week.
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Refurbished original State Savings Bank in Kerang for sale

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Sydney-based land developer, Clearstate, having completed their first major capital raising.
They are now set to deliver 1,700 new homes to Sydney, Melbourne and Brisbane.
Clearstate kicked off in 2011 and was placed third in the Australian Financial Review’s 2017 Fast Starters list.
Kandis Investments Ltd, an affiliate entity of US-based global investment firm, Avenue Capital Group, has agreed to finance Clearstate with a facility of up to A$50 million.
Clearstate Managing Director, Dean Willemsen (pictured above), said the facility will help Clearstate embark on a new era of expansion.
Currently Clearstate's development pipeline is approaching 600 lots.
The capital raising was facilitated by EY Australia, who secured the partnership with Avenue Capital Group, based in New York.
Clearstate has developed land projects in Sydney’s North West and South West growth corridors, as well as Melbourne.
The company’s latest project, Rouse Hill, is located on Tallawong Rd, Rouse Hill, NSW with house and land packages starting from $777,000.
Clearstate has completely sold 8 other developments ranging in size from 9-59 lots.
They currently have one other one other development with lot's still available for purchase, Candlebark at Box Hill.
Home and land packages at Candlebark start from $688,000.
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Clearstate set to deliver 1,700 new homes into Sydney, Melbourne and Brisbane markets

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Bookseller Mark Rubbo, the founding chair of the Melbourne Writers Festival, and wife Wendy have sold their Fitzroy warehouse conversion.
They had $2.8 million to $3 million hopes for the property they bought as an empty shell in 2004.
They commissioned architect Maggie Edmond to adapt <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-129684854" target="_blank">the property</a>.
It has three bedrooms, three bathrooms and a kitchen adjoining the open plan living space which flows to a north facing terrace.
The Little Victoria Street warehouse began life as a drill hall in the 1930s. 
Nelson Alexander Fitzroy agents Peter Stephens and Sonya Laferla handled the marketing.
This article first appeared in The Weekend Australian. 
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Former drill hall warehouse conversion sold in North Fitzroy

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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