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

Joel Robinson

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

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&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]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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There is an atmosphere of cautious optimism across the Southern Highlands, according to HTW's February 2017 update.
The valuation firm says that buoyed by an 18% increase in average prices to $892,000 for the year to December 2016, the townships of Moss Vale, Bowral and Mittagong have been stand out performers, with access to infrastructure and price point being the main drivers of that growth.
Local real estate agents have been saying that sales activity has been brisk in the face of stock shortage, the report states. 
“This has been borne out with a 24% decrease in the numbers of sales year on year to 1,600 properties. It is fair to say the rental market is tight with lack of stock driving rent increases of minimum 10% over the past 12 months.”
For the median price of $549,000 a house such as the one at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-124566046" target="_blank">45 Hoskins Street</a>, Moss Vale (above) is purchasable for between $525,000 to $575,000.
Similarly a unit such as the one at <a href="https://www.realestate.com.au/property-unit-nsw-moss+vale-124428450" target="_blank">1/8 Arthur Street</a>, Moss Vale (below) is purchasable from $400,000, which is $20,000 cheaper than the median price of a unit in Moss Vale.
<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/2017/02/14/1_8%20Arthur%20Street.jpg" alt="">
The Highlands property market is heavily influenced by what is happening in Sydney and historically lags that market by six to 12 months, HTW says. It expects to see continued strong demand for properties close to the townships at price points up to $1.5 million.
“Above that price point the market becomes less defined with the choice of residential, rural/residential and lifestyle acreage properties across the villages and hamlets coming into consideration.”
Established precincts such as Darraby Estate, (Moss Vale) Renwick and Nattai Ponds (Mittagong) and Bingara Gorge (Wilton) have seen strong sales over the past 12 months, with further stage releases scheduled for 2017.
Likewise, the soon to be released subdivisions of Retford Park (Bowral) and Throsby Views (Moss Vale) have seen strong pre-sales activity.
The recent announcement by the NSW Department of Planning that Wilton Junction has been designated as a priority growth area has brought the reality of the new township to accommodate up to 16,500 dwellings across the 4,175 hectare site located off the M5 East Freeway a step closer.
Other areas earmarked for residential development include Tahmoor and Appin.
Closer into the existing townships of Mittagong, Bowral and Moss Vale it is anticipated there will be limited releases of land predominantly restricted to resubdivision of appropriately zoned larger lots.
Regarding infrastructure, the state government has committed to a $50 million upgrade of the Bowral Hospital in 2017.
In September 2016, it called for expressions of interest regarding a public private partnership for the operation of the hospital.
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Sales levels strong in NSW's Southern Highlands: HTW

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Sydney's Surry Hills Crown Hotel has been sold to Peak Investments for $26.1 million.
The property was sold by Lantern Hotels through CBRE Hotels and Ray White Hotels
The Crown Hotel, corner of Crown and Cleveland streets in Surry Hills, is a four-level Victorian-style hotel with a 24 hour liquor licence an existing three hour gaming shutdown and 30 gaming machines.
Daniel Dragicevich, CBRE Hotels national director said the private funds management style of purchaser is becoming more and more prevalent and provides genuine competition for the traditional pub families when quality assets are put to market.
"Peak Investments has been strategic in its selective investment approach following its entrance into the NSW market two years ago with the purchase of the Rose &amp; Crown Hotel in Parramatta," he said.
Andrew Jolliffe, Ray White Hotels managing director said the divestment strategy was kicked off by Lantern Hotels with the Dolphin Hotel, a little further up the road in Crown St.
The sale marks the end of Lantern Hotels's sell-down strategy of 16 non-core and core pub assets.
 
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Crown Hotel, Surry Hills sale completes Lantern Hotels sell-off

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Services firm Accenture has signed a ten year lease of two floors at the T&amp;G Building at 161 Collins Street, Melbourne.
The lease is for a combined floor space of nearly 8,000 square metres or 30 percent of available, leasable space.
<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/2017/02/14/162504%20M01_Collins%20entry.RGB.jpg" alt="" style="font-size: 12.16px;">
Matthew Knight, head of Pembroke Real Estate in Australia, said the signing is further endorsement for this transformative project.
“Pembroke is working to bring the T&amp;G Building into the 21st century, by delivering world-class, flexible workspaces within a heritage building.
“Accenture is an international brand and already a significant tenant at a Pembroke property in Washington, D.C.  
"We are delighted to not just be welcoming them to the T&amp;G Building, but to be further building on this global relationship.”
<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/2017/02/14/m01_CollinsEntry_Pembroke%20161%20Collins%20Melb.jpg" alt="">
Refurbishment works at the T&amp;G Building began January 2017.
Contractor Built is renovating the Collins Street and Ramsden Place entrances.
Renovations also include an atrium, upgrades to the office floors and end-of-trip facilities.
The move to the T&amp;G Building’ rolls Accenture’s existing tenancies into one.
<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/2017/02/14/m02_Pembroke%20161%20Collins%20Melb%20090SidesExtended-Dusk.jpg" alt="">
Accenture will locate relocate 2017, with refurbishments due early 2018.
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Pembroke Real Estate secures Accenture for 8000sqm in Melbourne's T&G Building

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Investor demand in Sydney for industrial assets remains strong, according to HTW's February 2017 update.
The valuation firm says there is healthy interest from offshore investors in larger scale assets in the west with long-term, strong lease covenants and established tenant profiles compressing yields sharply to record sub 5-6% yields. Prime initial yields in the west compressed by a further 15 basis points from June to September 2016 on the back of strong investment volumes.
Owner occupiers have been strong in the Sydney market, particularly in the construction, food retail and technology sectors and primarily driven by record low interest rates. The strong competition for assets has driven capital values higher and has seen yields firm with effective rents across Sydney increasing by an average of 5%. This has seen investors enter the secondary market in the search for higher yields.
“With prime yields compressing, we anticipate that the spread between prime and secondary industrial assets will tighten over the coming 12 months as investors look for higher performing returns with development upside,” the report said.
Average rental growth performance is strong, with net effective rents up by 3% year on year, higher than their 10 year average growth rate of 2.3%.
Incentives have eased slightly to around 15% over the past six months as a result of this strong demand, however rental pricing remains a significant driver of tenant demand.
Owner occupiers remain dominant in the city fringe, north and south Sydney.
In the strata unit market popular amongst owner occupiers, recent off the plan developments have seen significant increases in capital values rising by over 30% in the past 18 months.
According to NSW government figures, Sydney will benefit from the largest infrastructure spending of any state in Australia to 2020. An estimated $73.3 billion is slated, including $20 billion dollars in just one year. Budget allocations include approximately $9 billion dollars for rail projects, $2.5 billion dollars on upgrades to Sydney’s road infrastructure and over $4.5 billion dollars on health, education, water security and sports infrastructure.
Western Sydney is predicted by HTW to be a major recipient of the spending which will place it at the epicentre of Sydney’s industrial growth throughout 2017 and beyond. As well as the significant investment in infrastructure, this is driven by the availability of labour and (comparative) availability of land, above trend population growth and corresponding increase in demand for services.
“The lack of available land in traditional, inner city industrial precincts in areas such as Marrickville, Redfern and Alexandria, due to high land values, rezoning for high density mixed use, residential use and gentrification, places Western Sydney in a prime position for future growth,” HTW said.
“As an example, from a rental perspective, pricing for an industrial facility in Alexandria is typically $150 to $250 per square metre on a net face basis, however after an office conversion these rents escalate to between $350 and $425 per square metre.
“With the Sydney market being somewhat isolated from the impact of the auto industry shutdown, volatility in the resources sector and mining investment, commodity price volatility and residential property downturn (thus far), we expect industrial effective rents to rise in the next 12 months by between 3 percent and 5 percent.”
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Demand for Sydney industrial property remains strong: HTW

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GUEST OBSERVER
The high vacancy rate for older commercial buildings in Perth is a concern for the broader community and the Property Council of Australia is calling on the major parties contesting the state election to take a bigger interest in policy solutions to problem.
The Perth CBD has the highest vacancy rate in the country at 22.5 percent and much of the vacancy is in older buildings known as ‘B grade’ stock, which makes up almost a third of the total stock of commercial offices in the CBD. 
The vacancy rate for B grade buildings is over 30 percent.
The risk in Perth is that commercial tenants will continue to gravitate to the newer higher grade office towers leaving the older buildings vacant, creating ‘dark zones’ in the CBD.
A two-tier office market is emerging in the CBD, including prime and A grade buildings in stronger demand by tenants and older buildings. 
We are already seeing vacancy rates in prime buildings decline however vacancies in older buildings may not have peaked yet.
In a bid to tackle, the rising Perth vacancy rates, the Property Council is calling on the major parties contesting the State election in March to commit to working alongside industry and the City of Perth to enable building upgrade agreements in the CBD.
Building upgrade finance is a voluntary mechanism to assist building owners to upgrade commercial buildings to improve, water, energy, and environmental efficiency by retrofitting existing commercial buildings.
Under the Building Upgrade Finance mechanism, a local council can voluntarily enter into a building upgrade agreement with a building owner and a financier.
Under a building upgrade agreement the building owner agrees to undertake upgrade works in respect of their building. The financier agrees to advance money to the building owner for funding the upgrade works, and the council agrees to levy a building upgrade charge against the land on which the building is situated. 
The initiative has been successfully adopted in Victoria, NSW and SA. However, it will require a change of the Local Government Act to enable building upgrade agreements to commence in WA.
Building Upgrade Agreements are a simple and effective mechanism to overcome the high office vacancy rate in the CBD and prevent the spread of dark zones
Lino Iacomella is executive directory, Property Council WA, and can be contacted <a href="https://www.propertycouncil.com.au/Web/About_Us/Contact_us/WA/Web/About_us/ContactUs/WA.aspx?hkey=4fc8901b-1527-43f8-88ed-c466ebcc6220" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Policy solutions needed to counter CBD dark zones

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Brisbane’s office market has crossed the low point in the cycle and is starting to show signs of a recovery, according to the latest office market report by Cushman &amp; Wakefield.
Queensland’s economic growth suggests tenant demand should continue to gather momentum, in spite of the fact that H2 2016 net absorption is estimated to be lower than the surprise H1 2016 result, the commercial real estate firm adds in its Q4 office market outlook.
Brisbane saw 190,000 sqm of new supply in 2016. Most recently 1 William Street (75,000 sqm) was completed in Q4, which is fully occupied by the Queensland government and largely represents the end of the current supply cycle with only the refurbished 310 Ann Street (18,400 sqm) scheduled for 2017. 
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4BrisbaneEffectiveRent.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4BrisbaneEffectiveRent.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Brisbane-NetAbsorption.png" target="_blank">Click to enlarge </a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Brisbane-NetAbsorption.png" alt="">
There will be stock withdrawals of nearly 130,000 sim in 2017 leading to net-negative supply of 112,000 sqm over the year, says the report. In line with this, prime gross effective office rents are trending sideways. Following a 5.2 percent decline in 2015, rent decline moderated to 0.8 percent in 2016. 
Cushman &amp; Wakefield says its base case scenario of a U-shaped recovery in Brisbane looks set to continue, a view further bolstered by the results in its “Office leasing trends and outlook” survey in which respondents expected vacancy to decline to 14 percent over the next year. 
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Brisbane-KeyDeals.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Brisbane-KeyDeals.png" alt=""> <img src="https://www.urban.com.au/images/2017/01/11/Q4BrisbaneProjects.png" alt="">
Improvements to Queensland’s State Final Demand and strengthening commodity pricing provides upside potential for tenant demand. Queensland’s State Final Demand rose a modest 0.1 percent in the quarter ended September. “However, given the high level of vacancy, the market will continue to favour tenants over the near-term,” the outlook concludes. 
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Brisbane's office market showing signs of recovery: Cushman & Wakefield

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Actor Russell Crowe continues his property sell off as he quietly sells his East Sydney commercial building for around $17 million.
There were weekend whispers about the proposed sale of the Riley Street block, with a report the exchange took place yesterday.
It has the 98 Riley Street Gym and offices.
The warehouse space on 677 sqm cost Crowe $5.05 million in 2003 when he bought it from the late Ron Baddock and Richard Dabbs, who ran the premises as a printing business.
Designer Blainey North, who later redesigned the building, currently leases a part of the building for her interior design business.
The sale follows Crowe's Kingsford investment property that he sold for $3.2 million to PWC Australia partner Jason Habak and wife Linda.
It had previously been leased rent free to his former band mates before the sale.
The property sell off comes amid property settlement with his ex-wife Danielle Spencer.
In 2011 Crowe and Spencer spent $10 million on the Rose Bay trophy home, Te Puke after a four-year search, which remains in both of their names.
It has been Spencer's home since their separation.
Crowe retains his 320-hectare property in Nana Glen, near Coffs Harbour.  
The sale might mean Crowe won't have sell his Finger Wharf apartment on Woolloomooloo Wharf. He has put the price up from $25 million to $30 million.
Luxury car importer Neville Crichton offered $25 million for the apartment.
It cost Crowe $14.35 million in 2003.
Image courtesy of Google Street View.
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Russell Crowe quietly sells East Sydney commercial block

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Most people jump into markets when they hear they’re booming. Few will buy in a down market, with an eye to the future.
They’ll wait until a newspaper report tells them prices have jumped in the past year, which means they’re too late to maximise the best opportunities to buy well.
Perth is the most depressed of the capital city markets and buyers are staying away in droves. The real estate industry is working hard to talk up the market, claiming buyers should dive in before prices rise. Such claims are among real estate’s greatest clichés, but they will be right in the not too distant future – at the right time Perth will represent great buying, after 3-4 years of falling prices. But most won’t make a move until they read there’s a new boom on.
Another example of this conundrum is provided by Townsville. The North Queensland city has had a lot of negative publicity recently and you wouldn’t buy there on the current numbers.
But I rate locations on their future prospects, often in defiance of the current situation, to alert investors to areas poised for growth. Townsville is a classic case.
It’s among the sturdiest regional economies in Australia. I rate economic diversity and Townsville has more than most regional centres, with strong elements of government admin, education, defence, resources, health, tourism and manufacturing – plus an export port.
Its property market had a run of strong annual growth up to 2011 – and, after decline in the past few years, is ready to resume its forward progress. Its comeback will be boosted by major events, including retail projects, CBD commercial and infrastructure spending. It is also receiving economic impetus from the expansion of its military economy and will benefit from the $22 billion Adani mining project.
Townsville is forecast to be one of Australia’s fastest-growing cities, reaching a population of 340,000 by 2050, according to demographer Bernard Salt in a 2015 report.
Townsville has over 100 education facilities, including the James Cook University, where around 12,000 students are enrolled.
It’s close to the Barrier Reef and tourism is a big industry. The city received 1.2 million domestic visitors in the year to September 2016, injecting $925 million (up 35 percent on the previous year). Around 12,000 cruise ship passengers visit Townsville each year and, following a Cruise Ship Terminal upgrade, larger numbers are expected in the future.
Trade through the Port of Townsville often tops one million tonnes per month and it is now Queensland’s third largest port. Examples of the port’s growth include an $85 million export facility opened by Glencore in 2015 and Puma Energy’s $150 million fuel import terminal.
The Townsville house market was one of the strongest among the Queensland regional cities over the five years to 2011, with median prices rising 50 percent. In recent years, there have been few signs of growth and many suburbs remain in decline as a result of recent economic reversals.
News of Clive Palmer’s nickel refinery closing in 2016 has not helped the market.
But Hotspotting expects an economic revival in 2017 and better results in the property market, a sentiment shared by Herron Todd White. In the October 2016 edition of its In Focus report, HTW said conditions in the residential market were starting to stabilise.
A core problem for Townsville has been oversupply, bringing an adjustment in rents. Despite that, yields remain attractive and are generally in the 5-6 percent range for houses. Some of the unit markets have median yields close to 7 percent.
So it’s a good time to consider Townsville as it gears for a growth phase. Job-generating projects are set to get under way in 2017, headed by a $1.9 billion CBD makeover. The Townsville City Waterfront Priority Development Area plan is designed to create a modern city space where 30,000 people are expected to be living and working in the CBD by 2030.
New developments will include bars, restaurants and shops. This will also be the site of a sports stadium, convention centre, arts precinct and a redevelopment of the North Yards railway sheds.
Townsville will thrive on the Adani coal project, which will have its HQ in Townsville, if the miner’s undertakings are kept. But nothing is certain in the resources sector and Townsvillemay have to fight to maximise the benefits because other regional cities can sniff the opportunities. Hence this headline in the local paper on 10 February: “Townsville declares war on Rocky.”
In a story on the front page of the Townsville Bulletin, Townsville Mayor Jenny Hill said the gloves were off in beating out other regional cities for Adani's FIFO hub.
Townsville is likely to benefit from other mining activity in Central Queensland, despite being hundreds of kilometres from the mine sites, in many cases. As one example of how major mining companies approach staffing these days, reports suggest BHP Billiton “has turned to Townsville locals to fill 200 fly-in, fly-out jobs in the Bowen Basin”.
There are 270 jobs on offer at the company’s Peak Downs and Saraji mines near Moranbah and a spokesman for BHP Billiton Mitsubishi Alliance (BMA) says they are advertising FIFO roles from Townsville.
Townsville is also likely to benefit from plans for Singaporean Armed Forces to train at Shoalwater Bay Training Area and Townsville Field Training Area. Up to 14,000 Singapore personnel will conduct unilateral army training for up to 18 weeks a year by 2021. Land will be used for tank training and $300 million will be spent on new facilities. This is the plan that became contentious recently when rural landholders claimed their properties would be forcibly resumed to make way for the military manoeuvres.
Then there’s a $225 million solar farm planned in the Upper Ross, with the project attracting federal funding and a solar power purchase agreement reported to be the biggest in the country. Under a 13-year contract, EnergyAustralia will buy 80 per cent of the electricity generated by the 142MW facility, enough power for 52,000 homes.
With so many large-scale projects in its future, Townsville is poised to return to growth and tuned-in investors will be looking around for opportunities.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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Tuned in investors turning towards Townsville

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Paul Broad of Broad Property Research and Advisory said Hamilton's proximity to the river and access to major infrastructure had made it a stand-out performer.
"Whether it is located near an ocean, lake or river, people pay a premium for waterfront property because waterfront land to build upon is scarce," he said.
"Not only is Hamilton a riverside suburb, it has been one of the prime beneficiaries of major infrastructure spending, with all of Brisbane's major arterial routes immediately accessible through the city's network of tunnels.
"The suburb's winning combination of location, amenity and infrastructure is something investors cannot ignore, particularly in the absolute riverfront developments."
"The basic principles of supply and demand dictate that prices go up for any desirable item for which there is a limited supply.
"The old adage that the three secrets to real estate are 'location, location, location' holds true in that being on the water is typically the best location available.
"The high household income at Portside Wharf is mainly due to the fact that 40 percent of Portside Wharf's residents aged over 15 are professionals, compared to just 19 percent across Queensland as a whole.
"This provides a pool of quality tenants who desire, and are willing to pay premium rents for well-positioned property." 
Mr Broad said 2011 Census data put the median weekly household income in Brookfield Residential Properties'  Portside Wharf precinct, which neighbours the new Gallery House apartments, at $2,416 per week, nearlydouble the average median weekly household income of $1,235 per week across Queensland.
<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/2017/02/14/700_couple.jpg" alt="">
Jonathan and Brianna Parsons (above) were among the first to purchase at Gallery House, which will sit on a prime riverfront site in Hamilton. 
Mr Parsons said the backdrop of the Brisbane River and CBD was one of the biggest motivators.
"Our one bedroom apartment will be spacious and we will also love the break-out spaces like the rooftop pool and barbeque area, which will be great for entertaining," he said.
"We decided the apartment was perfect for our self-managed super fund because we can't see ourselves ever wanting to sell something as rare as this.
"We are buying for the long term and over the years we have observed that riverfront apartments are always in high demand and are much more resilient to market fluctuations than non-riverfront locations."
For more information on Gallery House visit the new Sales &amp; Display Centre at Portside Wharf or gallery-house.com.au.
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Riverside location driving Hamilton, Brisbane apartment market

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Over recent months the average number of days it takes to sell a residential property has been falling, reflecting the overall improvement in housing market conditions.
The average days on market figure provides valuable insight into the performance of the housing market.  The figure measures the average difference between the date at which a property is listed for sale and the day at which it goes under contract. The figure is only calculated across those properties that sold by private treaty, excluding tenders and auction sales.  When homes are selling quicker it points to stronger buyer demand and vice versa.
Across the combined capital cities, it took an average of 38 days to sell a home in December 2016. This figure was lower than the 41 days a year earlier and is down from high throughout 2016 of 50 days in August 2016. 
Four of the eight capital cities now have an average days on market figure below 40 days while most of the other capital cities are now seeing the days on market figure starting to trend lower.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.41.37%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.41.37%20AM.png" alt="">
The typical Sydney dwelling sold after an average of 33 days in December 2016 compared to 39 days in December 2015.
Melbourne dwellings took an average of 35 days to sell in December 2015 with the figure falling to an historic low of 29 days at the end of 2016. 
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.43.15%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.43.15%20AM.png" alt="">
Dwellings were taking an average of 57 days to sell at the end of 2016 in Brisbane compared to 43 days a year earlier.  Brisbane is only city in which the days on market figure has trended higher.
Adelaide dwellings were taking 43 days to sell at the end of last year, which is as long as they were taking a year earlier however, the days on market figure has fallen over recent months.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.44.20%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.44.20%20AM.png" alt=""> 
The typical Perth dwelling was taking 65 days to sell at the end of 2016 compared to 58 days at the end of 2015 however, the days on market figure has reduced over the past few months.
Hobart has recorded a large fall in the days on market figure over the past year, reducing from 47 days in December 2015 to 35 days in December 2016.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.45.17%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.45.17%20AM.png" alt="">
Dwellings in Darwin were taking an average of 86 days to sell at the end of 2016, up from 74 days at the end of 2015 however, over recent months the figure has begun to fall.
At the end of 2015, the typical Canberra dwelling was taking 47 days to sell compared to 37 days at the end of 2016.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.46.13%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.46.13%20AM.png" alt="">
The days on market figures will be important to follow throughout 2017.  After the current growth phase has run for more than four and a half years, we are still seeing a rapid rate of sale in Sydney and Melbourne.  Low levels of stock available for sale and many willing purchases continue to drive a rapid rate of sale in Sydney and Melbourne while the rate of sale is improving in most other capital cities. 
The days on market figure will provide a good indication of the strength of individual housing markets throughout 2017.  Keep in mind that the next two months of data (January and February) will show the regular seasonal spike but thereafter the data will be much more representative of the housing market’s performance across each capital city.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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