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House buyers who purchased in the past three years, particularly in Sydney and Melbourne, are the most worried by recent falls in house prices, according to a recent survey by home loan lender ME bank. 
The survey of 1,500 respondents indicated there may be a flow on to effect consumer spending.
Those who made purchases more than three years ago not as worried about owing more than their property is worth, 27% compared to those who bought property in the past 36 months of whom 62% say they are concerned.
<img src="https://www.urban.com.au/images/2018/12/3/Me%20bank%20worry.JPG" alt="">
Half of the respondents said falling prices made them feel less wealthy, while 73% said they would be more careful with their money in future.
Those who think prices will go up outnumber those who think prices will fall in every states except NSW, demonstrating that the recent turn in prices has had an effect on consumer sentiment.
ME’s head of home loans Andrew Bartolo sai,: “There’s little point worrying about what will happen to prices short-term if you’re intending to live in a property long-term. Same goes for long-term investors.
“Those looking to borrow should ensure they have a strong savings history, a deposit over 20%, and can demonstrate they can keep their levels of expenditure to low levels long-term,” he advised.
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j.ballantyne1990-6AQqhLzZaK

House price movement is worrying recent buyers most: ME bank

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Maritana, an iconic 1920's sandstone waterfront home in Elvina Bay is now on the market.
It has been offered by Lachlan Elder from LJ Hooker Mona Vale.
Situated on 2,380 sqm of north facing land, Maritana at <a href="https://www.realestate.com.au/property-house-nsw-elvina+bay-129764330" target="_blank">61-63 Douglass Estate </a>comes with five bedrooms, living and entertaining spaces, verandahs, established gardens, and Tuscan inspired terraces. 
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Other highlights include 52 metres of frontage to Pittwater, boat shed and Pittwater vistas.
Elvina Bay is a quick 5-minute boat ride to Church Point and from here a 45-minute drive to the Sydney Harbour Bridge.
The property was last sold for $6.25 million in 2007. 
<img src="https://www.urban.com.au/images/2018/12/3/Douglass.JPG" alt="">
Maritana was built in the 1920's for the Gibsons of retailers Foy &amp; Gibson.
It traded at $324,000 in 1983 when then Mudgee pastoralist-cum-furniture-maker Antony Loneragan and his wife Elaine bought it from the Hemery family.
After being refurbished by Dermer Bennet, the home sold for $1 million in 1992.
 
 
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Maritana the 1920's Elvina Bay sandstone home on the waterfront has been listed

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One of Peppermint Grove’s original houses is set to be auctioned on December 8 for the first time in 13 years after a makeover.
It has been offered by Jody Fewster from Ray White Cottesloe/Mosman Park. 
Copley on View, the circa 1930's home situated at <a href="https://www.realestate.com.au/property-house-wa-peppermint+grove-129140650" target="_blank">58 View Street </a>was purchased by its current owners in 2005.
Shortly after it underwent a full renovation and rear-extension addition by architect, Lendis Golic.
The home features original structure including wide, polished jarrah floorboards, formal dining and living rooms joined by a double-storey height, light-filled void' zone, ceiling to floor window and the walnut, timber-clad stairwell.
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It comes with four bedrooms, five bathrooms, ground-floor office, wine cellar, gym or hobby room, storage rooms and marble-clad laundry plus secure garage. 
It has been listed for the past 100 days by Perth charity fundraiser Hilda Shroy.
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“My home has been a giving home with many fundraisers,” Mrs Shroy said.
It is within short walking distance to Gill Street Café, St Hilda's Senior School, Freshwater Bay Yacht Club and Cottesloe Central and Napoleon Street Café precinct. 
The property goes to auction on December 8 on-site.
The suburb's median house price sits at<a href="/developments/peppermint-grove-wa-6011"> $3.875 million</a>, according to CoreLogic. 
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Peppermint Grove trophy home Copley on View for December auction

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Sydney house values fell 9.2 percent over the past year, their largest annual fall since May 1983.
Overall Sydney dwelling values fell 8.1 percent over the past year.
Unit values declined by 5.5 percent.
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Headlining the November results, the CoreLogic hedonic home value index recorded its weakest month-on-month change in dwelling values since the Global Financial Crisis.
National dwelling values slipped 0.7 percent lower in November, led by larger falls in Sydney (1.4 percent) and Melbourne (1 percent) where the pace of decline has accelerated over the past month.
Nationally, dwelling values are down 4.2 percent since peaking in October last year, with dwelling values retracing back to levels last seen in December 2016.
<img src="https://www.urban.com.au/images/2018/12/3/CL%20Dec%203.JPG" alt="">
CoreLogic head of research Tim Lawless said the downwards pressure on national dwelling values is largely confined to Sydney and Melbourne which together, comprise approximately 55 percent of the value of Australia's housing asset class.
Since peaking in July last year, Sydney's housing market is down 9.5 percent which is on track to eclipse the previous record peak-to-trough decline set during the last recession when values fell 9.6 percent between 1989 and 1991.
Melbourne dwelling values peaked four months later than Sydney, in November 2017, and have since fallen by 5.8 percent through to the end of November 2018.
"Conditions across the Australian housing market are increasingly diverse," Lawless said.
Dwelling values are trending higher across five of the eight capital cities, albeit at a relatively slow pace compared with the previous surge in Sydney and Melbourne.
"Hobart and regional Tasmania continue to be the standouts for capital gain, with values up 1.7 percent across both regions over the past three months".
Tim Lawless points towards several factors that are influencing the downwards trend in Sydney and Melbourne, while other regions continue to see some level of growth.
"The tightening in finance conditions has been more pronounced across the investor segment of the market, where Sydney and Melbourne have recorded much higher concentrations of investment demand.
"Additionally, housing affordability constraints are more pronounced in these markets and rental yields are substantially lower, indicating an imbalance between rental values and dwelling values.
"The ramp up in housing supply has been more pronounced in these markets against a backdrop of slowing demand, and Sydney and Melbourne have also been more affected by the reduction in foreign buying activity."
"As a consequence of less market activity, advertised listings have surged higher, providing buyers with ample choice which provides for a strong negotiation position on price.
"The rebalancing towards buyers over sellers in Sydney and Melbourne is clear across CoreLogic's vendor metrics, with clearance rates tracking in the low 40 percent range while private treaty sales are showing substantially longer selling times and larger rates of discounting than they have over recent years."
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Sydney house values fell 9.2 percent over the past year, their largest annual fall since May 1983.

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Hobart house values are now pricier than Perth house values, according to the November CoreLogic data.
CoreLogic findings show Hobart values went up $11,000 in Hobart while Perth house values decreased by $3,000 over the month.
Overall Hobart dwelling values (houses and units) have increased the most of all capital cities over the year with a growth of 9.3 percent while Perth values have decreased by 4.2 percent.
Click <a href="https://www.propertyobserver.com.au/images/2018/12/3/CoreLogic%20Hob%20vs%20Per.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2018/12/3/CoreLogic%20Hob%20vs%20Per.JPG" alt="">
Unit values however tell a slightly different story as Perth units continue to narrowly out-price Hobart units.
 
<img src="https://www.urban.com.au/images/2018/12/3/CoreLogic%20Hob%20vs%20Per%201.JPG" alt="">
Representative of median Perth house prices is <a href="https://www.realestate.com.au/sold/property-house-wa-mindarie-128760730" target="_blank">2 Whitby Close, Mindarie</a> (pictured), located in the northern outskirts of Perth.
The home sold for $475,000 in mid-November.
Set on 600 sqm the four bedroom two bathroom home last sold in 2005 for $320,000.
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Hobart house values now pricier than Perth: CoreLogic

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For the first time since GFC, Sydney's auction clearance rate has fallen below 40%, according to Domain.
They found Sydney had a revised clearance rate of just 39.4% on 403 reported auctions of the week ending October 20, 2018.
Only $170 million dollars worth of property sold compared to the same period last year when $484 million worth of property sold.
There is still 9.3% unreported.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/29/Domain%20Auction.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/10/29/Domain%20Auction.JPG" alt="">
The consistent recent deterioration had market watchers anticipate auction clearance rates dipping into the 30s. 
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SQM's Louis Christopher recently noted three previous times when Sydney auction clearance rates sunk into the 30s.
"That was in October/November 2008 during the GFC, May 2004 after the NSW vendor stamp duty was introduced and July 1989 when the cash rate hit 17 percent."
Melbourne's revised clearance rate was also very low last week at 44.4%.
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<img src="https://www.urban.com.au/images/2018/10/29/Darlin.JPG" alt="">
The most expensive sale at auction in Sydney last weekend was <a href="https://www.realestate.com.au/sold/property-house-nsw-darling+point-129472518" target="_blank">13 Etham Avenue, Darling Point</a> (pictured above) which sold after auction for $5 million.
The five bedroom three bathroom home set on a 486 sqm parcel was held by the same family for over 60 years.
“We were quoting $5 million, the reserve was $5 million and it sold for $5 million,” selling agent Ben Collier at The Agency said.
 
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Sydney clearance rates dipped into the 30's for the first time since the GFC

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Barnaby Joyce has listed his 1000 ha NSW farm, Yarrandinbine at Gwabegar.
The land is in northern NSW.
It comes with an $878,000 asking price through Michael Guest.
"It has had very good rain, the dams are full, and cattle and sheep prices are very good," Joyce said.
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It is covered by an as-yet unused coal-seam gas petroleum exploration licence, PEL 428, owned by resources group, Comet Ridge.
Joyce bought the property in 2006 and 2007 in two purchases costing $572,000.
<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/gwabegar%203.jpg" alt="">
<a href="https://www.commercialrealestate.com.au/property/yarrandinbine-kenebri-road-gwabegar-nsw-2356-2014818617" target="_blank">The property</a> pricing at $350 an acre was "good value," the agent said.
"The unfortunate breakdown of the relationship means there has to be the necessary settlement to secure Natalie's position," Joyce told The Australian.
 
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Barnaby Joyce lists 1000 ha Gwabegar property, Yarrandinbine

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Hospitality owner and Rich Lister Chris Morris is injecting $7 million into the Portsea Hotel on the Mornington Peninsula in a serious makeover which is set to be unveiled next week.
It sits within the Colonial Leisure Group’s $300 million tourism portfolio.
The Portsea Hotel was purchased in 2000.
“Portsea Hotel has been a great place to go in the warmer months and although it is seen as a Portsea icon, the charm had left the building some time ago,” Morris said.
Its getting more than just a lick of paint.
Morris hopes the renovations creat a mecca for families, couples, holidaymakers and tourists alike.
<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/CLG%20-%20PORTSEA%20HOTEL%202494.jpg" alt="">
 
Chris Morris (right) and CLG General Manager Lawrence
“We’ve utilised every space in the venue to truly realise its full potential.”
Known for its sprawling beer garden on the water's edge, Portsea Hotel will host a number of live music acts over summer.
Morning yoga will cater to the ever-growing active lifestyle enthusiasts.
The second floor is home to the ‘Bertram Bar’  (in honour of John Bertram) and with ocean views.
There is also Cliff’s Bar  - a California-inspired burger bar - and the RIP Bar  - a whisky inspired cocktail bar to lure guests in the cooler months.
Morris’ hospitality group owns some of Australia’s most iconic destinations and venues including Orpheus Island, Mount Mulligan, Print Hall in Perth and Half Moon in Brighton.
The group is also undertaking renovations on the popular Albert Park Hotel.
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The revamped Portsea Hotel will open its doors to the public next Monday.
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Portsea Hotel's $7 million facelift - with yoga lessons on offer

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A four bedroom one bathroom Salisbury East, SA house has been listed by its mortgagee.
Situated at <a href="https://www.realestate.com.au/property-house-sa-salisbury+east-130019038" target="_blank">2 Emma Court, Salisbury East</a> the home is set for auction with an asking price of $319,000.
Featuring three carports the house also comes with a large tool shed.
Set on 599 sqm the home was built in 1984.
Located 19 km from Adelaide the listing notes that the home requires some work done.
Last sold in 2017 the home went for $310,000.
The median price for a home in <a href="/developments/salisbury-east-sa-5109">Salisbury East</a> is $307,500, according to CoreLogic Data.
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Four bedroom Salisbury East, SA home listed by mortgagee

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A two bedroom two bathroom Lathlain, WA apartment has been listed by its mortgagee.
Situated at <a href="https://www.realestate.com.au/property-apartment-wa-lathlain-130023306" target="_blank">208/2 Rutland Ave, Lathlain</a> the home has an asking price of $385,000.
Featuring one car garaging the unit also comes with a 28 sqm balcony.
The property is set on 95 sqm including the balcony.
Located near the new Optus Stadium the home is also near amenities and public transport links.
The apartment was built in 2016.
The median price for a home in <a href="/developments/lathlain-wa-6100">Lathlain, WA</a> is $722,000, according to CoreLogic Data.
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Two bedroom Lathlain, WA home listed by mortgagee

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.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

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

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

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Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[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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