<p>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.</p>

<p>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.</p>

<p>A new Colliers report, <em>Brisbane 2032 Olympic and Paralympic Games: Creating Solutions</em>, 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.</p>

<p>The broader construction pipeline paints an even clearer picture.</p>

<p>Construction Skills Queensland's <em>Horizon 2032</em> 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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=373834]</p>

<p>Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.</p>

<p>"From 2027 onwards, the market will shift dramatically," Scriven said.</p>

<p>"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."</p>

<p>Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.</p>

<p>"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."</p>

<p>[smartcode_project:default project_id=150713 project_image_fid=373827]</p>

<p>Developers are already positioning themselves ahead of that window.</p>

<p>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.</p>

<p>Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.</p>

<p>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.</p>

<p>Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.</p>

<p>"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.</p>

<p>"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."</p>


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

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357458]</p>

<p>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.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357463]</p>

<p>Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.</p>

<p>Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.</p>

<p>[smartcode_project:default project_id=151449 project_image_fid=357469]</p>

<p>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.</p>

<p>"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.</p>

<p>"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."</p>

<p>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>.</p>

<p>[smartcode_project_cta:default project_id=151449]</p>


Sherpa sells out Flourish Oasis in booming Palm Beach

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=368645]</p>

<p>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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=358802]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=364551]</p>

<p><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.</p>

<p>Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.</p>

<p>"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.</p>

<p>Following completion of the building later this year, buyers will move into their apartments well before Christmas.</p>

<p>[smartcode_project_cta:default project_id=134951]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Just 17 of the original 36 dual key apartments remain available.</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=367096]</p>

<p>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;</p>

<p>The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363511]</p>

<p><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;</p>

<p>“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;</p>

<p>“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.</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363509]</p>

<p>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;</p>

<p>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.</p>

<p><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;</p>

<p>“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;</p>

<p>“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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363515]</p>

<p>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;</p>

<p>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.</p>

<p>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;</p>

<p>Erwin said the dual key concept represented a broader shift in how Australians would live in the future.</p>

<p>“People want homes that can evolve with their lives,” he said.&nbsp;</p>

<p>“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.”</p>

<p>Prices currently range from $2,115,750 to $2,583,000.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=135546]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.</p>

<p>“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.</p>

<p>“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”</p>

<p>Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.</p>

<p>The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.</p>

<p>He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.</p>

<p>“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”</p>

<p><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" /></p>

<p>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.</p>

<p>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."</p>

<p>The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>Residents would have access to communal gardens 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.</p>

<p>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.</p>

<p><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" /></p>

<p>"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.</p>

<p>"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."</p>

<p><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" /></p>

<p>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.</p>

<p>Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, 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.</p>


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

Apartment Sales

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<p>Eighty Eight, a $1.6 billion mixed-use development in St Leonards, had over 200 people attend its sales launch last week.</p>
<p>70 percent of the 180 Stage 1 apartment sold on the day.</p>
<p>The <a href="https://www.realestate.com.au/project/eighty-eight-by-jqz-st-leonards-600020070" target="_blank">three tower development</a> by Sydney-based Chinese developer JQZ is being marketed by Sunny Properties Group.</p>
<p>JQZ paid $295 million for the site last year, beating out the likes of Mirvac and Meriton who showed interest.</p>
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<p>Opposite St Leonards train station, the Christie Street development will comprise two residential towers of 47 and 26 storeys, holding 654 apartments in total.</p>
<p>It will include one, two and three bedroom apartments, as well as five five bedroom penthouses featuring their own private lifts. </p>
<p>There will also be a 15-storey commercial and retail building fronting the Pacific Highway.</p>
<p>The project will commence construction in August, with completion expected by 2022.</p>
<p><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/2018/2/21/88%20one.jpg" alt=""></p>
<p>According to Sunny Wu, managing director of Sunny Properties Group, the level of interest in Eighty Eight is proof positive that apartment buyers are still active in the Sydney market.</p>
<p>“While in some respects the Sydney apartment market has flattened out a little, we’re finding that quality projects with first-rate amenities are still attracting plenty of attention – and Eighty Eight By JQZ is a perfect example,” said Wu.</p>
<p>“All apartments will enjoy amazing views, while residents will also have access to a rooftop pool, a lively ground floor laneway retail and dining precinct, a major supermarket, and the future St Leonards Public Library.”</p>
<p>Designed by leading Australian architects PTW, Eighty Eight By JQZ will feature a 30,000 sqm combined commercial and retail space, and will adjoin the future St Leonards open-air civic plaza, which will branch out over the neighbouring railway line.</p>
<p>Mrs Wu said the timing of the sales launch was also important in terms of garnering significant buyer interest.</p>
<p>“We’ve deliberately timed the launch of Stage 1 sales at Eighty Eight By JQZ to coincide with Chinese New Year celebrations, capturing international buyers who are enjoying Sydney’s warmer weather during the Chinese winter.</p>
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jrobinson-rf4aSBido9

Apartment purchasers still very active at new 88, St Leonards development

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
<p><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/2017/10/26/Total.jpg" alt=""></p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
<p><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/2017/10/26/QLD.jpg" alt=""></p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
<p><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/2017/10/26/SA.jpg" alt=""></p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
<p><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/2017/10/26/WA.jpg" alt=""></p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
<p><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/2017/10/26/Tas.jpg" alt=""></p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
<p><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/2017/10/26/NT.jpg" alt=""></p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
<p><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/2017/10/26/Canberra.jpg" alt=""></p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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ckusher-ujnxiKuFQs

Dwelling construction surges yet housing turnover falls

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<p>Developer Dyldam launched its South Quarter project – the former Auto Alley – on the weekend.</p>
<p>Some 100 of the 200 apartments sold.</p>
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<div class="cq-article-content-media section">The developer said it was pleased with the results, especially with the high 30 per cent rate of first home buyers and local interest.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The average sale price was $750,000.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The plans for the South Quarter of the Auto Alley, Church Street, were unveiled as a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.</div>
<div class="cq-article-content-media section">
<p>It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.</p>
<p>Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.</p>
<p>The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.</p>
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<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg" alt="Artist impression of South Quarter of a planned development of Auto Alley on 57, 63 and 83 Church Street, Parramatta." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg"></div>
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<div class="related-quotes section">The plans for the South Quarter of the Auto Alley, Church Street, Parramatta by developer Dyldam have been unveiled.</div>
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<p>It is a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.</p>
<p>It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.</p>
<p>Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.</p>
<p>The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.</p>
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<div class="related-quotes section">Construction completion for the first residents in South Quarter is 2022, he said.</div>
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<p>Dyldam beat contenders including AV Jennings for the coveted site in 2015 with the City West Joint Regional Planning Panel approving the site masterplan in 2016 with its Allen Jack+Cottier design.</p>
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j.ballantyne1990-6AQqhLzZaK

Dyldam sees the boost in FHB numbers in weekend Parramatta launch

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<p>Apartment developer Gurner has repaid its $180 million loan to ANZ following the settlement of apartments worth nearly $200 million at its FV project in Brisbane.</p>
<p>Gurner said in a media release that it had settled 80 percent of the first 520 apartments of stage one of its 981-apartment, three tower ‘FV’ project. </p>
<p>The settlements come at a time when repeated warnings have been sounded from various quarters, including the RBA, about an apartment oversupply in Brisbane.</p>
<p>The precinct, which is managed by Mantra Group under the high-end Peppers brand, has seen more than 80 apartments leased before settlements, and rental yields in the range 5.2 - 7.5%.</p>
<p>The project’s resort-style facilities such as a sunken pool, gym, private dining areas, VIP spa retreats, expansive sun-deck and concierge services are being cited as a big hit by Gurner.</p>
<p>Tim Gurner, founder of Gurner, said both the project’s settlement success and rental demand had proven the fears of oversupply wrong.</p>
<p>"People have been discussing Brisbane’s property market like it’s the end of the world as we know it," said Gurner.</p>
<p>"However, the fundamentals are strong, and with rental yields high and price points low compared to other major Australian cities, I believe Brisbane’s quality apartment market has only just started to hit its straps. </p>
<p>"The constant reports and negative whispers about Brisbane’s market are way too simplistic and alarmist when the reality is, quality apartments are settling well, they are leasing well, generating good rents and achieving solid resale prices."</p>
<p>But The Australian newspaper has reported more than 100 apartments in the high-profile inner-city Brisbane development are yet to settle.</p>
<p class="selectionShareable">Some 20 per cent of the first tower of property developer Gurner’s 520-unit FV development are yet to settle, it reported.</p>
<p><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/2017/10/13/Gurner-1.jpg" alt=""></p>
<p>Gurner said his marketing was not focussed on foreign buyers, unlike other projects of that scale, with only 110 out of 651 settlements by foreign buyers.  </p>
<p>“We are seeing more foreign buyers settle in cash rather than through bank finance as they seek to navigate the complex lending requirements, so this is not deterring them from settlement,” Gurner said.</p>
<p>“We have been saying for years that any talk of oversupply has been grossly overstated, due to analysts looking at the number of projects granted permits, rather than the number that actually start construction.” </p>
<p> <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/2017/10/13/Gurner-main.jpg" alt=""></p>
<p>ANZ’s head of Institutional Property, Eddie Law, said the bank’s outlook for good quality, owner-occupier apartment projects that are backed by experienced developers in Brisbane remained strong. </p>
<p>“We were delighted to be able to support and assist GURNER realise the creation of a premier residential product in Brisbane, despite the anticipated and known market supply metrics.” </p>
<p>The developer partnered with Singaporean listed company, Thakral across the development.</p>
<p>Gurner went on to say that Brisbane could again see an undersupply problem as a tightening of bank lending, construction price rises and foreign investment changes have almost stalled permitted off-the-plan projects.</p>
<p>“The Brisbane off-the-plan market literally came to a grinding halt about 12-15 months ago and by 2019 there will be virtually no new supply coming to the market and we will be talking about an under supply again,” he said. </p>
<p>“This means not only is there less stock on the market than first suggested, the rental market is incredibly tight and good quality apartments that will rent for between $400 - $700 per week are in very high demand. </p>
<p>The project’s third tower, No.1, is due for completion in mid-2019.</p>
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jonathanchancellor-7SQnKwU6yx

Gurner settles apartments worth $200 million in Brisbane in quick time, downplays oversupply concerns

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<p>Smarta Property, a Double Bay-based developer, has bought the historic 33-unit Workers Dwellings building in harbourside Millers Point for $26 million which it hopes to convert into luxury apartments. </p>
<p>Its plan is to refurbish the property, turning it into luxury dwellings.</p>
<p>The developer bought the three-storey block of 33 apartments from the NSW government as part of its public housing sell-off to fund affordable housing.</p>
<p>The Workers Dwellings were originally built by the Sydney Harbour Trust circa 1910 for wharf labourers, storemen, stevedores and gasworks hands. </p>
<p>The $26 million transaction is the largest so far in the Millers Point sales programme, through which the government has raised $448 million, according to The Australian.</p>
<p>The government selloff is also resulting in the gentrification of Millers Point, with the suburb transforming into an elite club.</p>
<p>Lawyers and real estate executives are making multimillion-dollar purchases of former hous­ing commission terraces and units and turning them into exquisite inner-city mansions.</p>
<p>Smarta Property, run by brothers Luke and Andrew Veron, has a history of refurbishing apartment blocks but this will be its most significant project. </p>
<p>Located between 30 Lower Fort Street and 4 Trinity Avenue, the apartments are being designed to house the professionals working in the nearby Barangaroo precinct.</p>
<p>Smarta plans to restore the homes, bringing them up to an ultra-modern standard and selling them off within 18 months.</p>
<p>Any refurbishments of the historic properties must be in line with the  conservation guidelines endorsed by the NSW Heritage Council.</p>
<p>“We’re going to renovate, strata them, and sell them off individually,” director Luke Veron said.</p>
<p>Of the 33 apartments, 21 are three-bedders while the rest are one-bedroom units.</p>
<p>Following closure of a public tender process, the historic building was sold via negotiations managed by Peter Starr, Lorraine Crawford and Andrew Stewart of McGrath.</p>
<p>The project fits with Smarta’s focus on boutique projects. Recent developments include eight units in waterside Balmain and a 36-unit block in Lilyfield.</p>
<p>The apartments were sold in one line, rather than as four separate lots of units, as the greatest value could be realised by one developer.</p>
<p>With more properties being offered at Millers Point, more Barangaroo executives are tipped to chase the remaining real estate in the harbourside enclave.</p>
<p>“It’s going to be beautiful,” Starr said, citing London’s exclusive Knightsbridge and Kensington districts as points of comparison.</p>
<p>“This is the oldest suburb in Australia — but it hasn’t been in private ownership since around 1900,” he said.</p>
<p>The latest batch of properties will be auctioned on October 11.</p>
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Veron brothers' Smarta Property revealed as buyer of historic Workers Dwellings at Millers Point 

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<p>Malaysian developer SP Setia has sold 80 per cent of the apartments in its luxury twin-tower Melbourne project on Exhibition Street, contrary to concerns of a slowing in the apartment market.</p>
<p>The developer paid a record $101 million for the former Telstra Exchange site at 308 Exhibition Street in 2016.</p>
<p>SP Setia’s mixed-use development project, which will also feature a five-star hotel, is estimated at $640 million.</p>
<p>The developer did not say how many of the roughly 280 apartments in Sapphire By The Gardens sold so far were to overseas buyers, but according to The Australian Financial Review, foreigners made up a high proportion of buyers.</p>
<p>Recent reports from Chinese-based real estate agents suggested a sharp fall in interest from offshore buyers for Australian apartments due to restrictions on capital outflows imposed by Beijing, new stamp duty surcharges and a tighter lending market in Australia.</p>
<p>Jon Ellis, who runs off-the-plan marketplace Investorist, recently said demand was down 40 per cent, but that developers of quality projects were still making sales in Asia.</p>
<p>Last year, the developer also bought an 850 sqm development site in Melbourne’s Prahran.</p>
<p>"Quality high-rise developments in Victoria, like Sapphire By The Gardens, will continue to attract a healthy mix of offshore, interstate and local interest" said Tim Storey of Colliers International Residential, the lead selling agent on the project.</p>
<p>The project has a residential tower with 345 apartments and a second tower that will be house a five-star hotel Shangri-La hotel with about 500 rooms. Overlooking Carlton Gardens, the project is expected to be complete by 2021.</p>
<p>The project includes a $29 million penthouse with the remaining apartments priced from $1.085 million, to just under $1.9 million.</p>
<p>The developer is holding events to launch the sale of the remaining 20 per cent apartments in the coming weeks in Sydney and Melbourne.</p>
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Malaysian developer SP Setia says 80 percent units sold in luxury Melbourne tower

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<p>A one bedroom West Footscray apartment has sold for $208,000 making it Melbourne’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/property-apartment-vic-west+footscray-126187274" target="_blank">20/697 Barkly Street</a>, the property is marketed for a first home buyer or investor.</p>
<p>It features a living area that leads a a kitchen/meals area.</p>
<p>The bedrooms has its own built-in robe.</p>
<p>Other feature includes a car space.</p>
<p>Public transport, Barkly Street Village and Central West Plaza are close to the property.</p>
<p>The property was offered through Century 21 agent Yogi Flis.</p>
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One bedroom West Footscray apartment sold for $208,000

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<p>James Packer is looking overseas to sell apartments in his ­luxury residential tower in Sydney’s Barangaroo at a time when the property market in the Harbour city has shown signs of slowing.</p>
<p>The 81 exclusive apartments are expected to hit the market soon via an expressions-of-interest targeted marketing campaign, followed by a formal launch.</p>
<p>And the target are the wealthy in global cities. </p>
<p>“Buyers in the gateway cities of the world will be targeted including­ London, New York, United Arab Emirates, Singapore, Southeast Asia, Hong Kong, Shanghai and Beijing,” Crown executive vice-president Todd Nisbet was cited as saying by The Australian.</p>
<p>Crown’s marketing push comes as Sydney home values were steady over the month and edged up just 0.3 per cent over the quarter, rising 13 per cent over the past year.</p>
<p>Melbourne values rose 0.5 per cent in August, 1.9 per cent over the quarter and 12.7 per cent over the year.</p>
<p>The apartments are being marketed by real estate agent Knight Frank and its London figurehead, Lord Andrew Hay. </p>
<p>Nisbet said he expected the 81 “sky homes” in the Crown residential tower also to appeal to the domestic Australian ­market. </p>
<p>“This isn’t the kind of project focused on the Chinese investors,” he said, clearly implying that the apartments are not being targeted towards Chinese buyers.  </p>
<p>“Investors are not the type of buyer that it is going to resonate with. We are targeting specific demographics and we will not disclose pricing at this time.’’</p>
<p>Though the pricing is being kept under wraps, there’s speculation that the penthouse atop the Barangaroo tower, to be branded Crown Sydney, One Barangaroo, could come with a price tag as high as $100 million.</p>
<p>Last year, Packer's Crown Resorts secured approval for his $2 billion Sydney casino at Barangaroo.</p>
<p> </p>
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James Packer looks to market luxury ‘sky homes’ in Barangaroo to foreigners

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<p>Iris Capital only sold 17 of 39 apartments at its new $70 million development Grand Bondi Junction in Sydney's east.</p>
<p><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/2017/08/21/700_iris3.jpg" alt="" style="font-size: 12.16px;"></p>
<p>The most popular apartments sold were two-bedroom units.</p>
<p><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/2017/08/21/700_iris6.jpg" alt=""></p>
<p>The highest priced apartment was $2.5 million.</p>
<p><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/2017/08/21/700_iris4.jpg" alt=""></p>
<p>Iris Capital launched their $70 million residential development claiming "impressive market demand" - although it continued the recent downturn in the initial Saturday sales tally to around 50 percent rather than the 100 percent sellouts in the off the plan sales heyday.</p>
<p><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/2017/08/21/700_iris5.jpg" alt=""></p>
<p>The development attracted strong interest from local owner occupiers purchasers from around the Eastern Suburbs area, CBRE agent Ben Stewart noted, adding Grand was destined to become a timeless residence in Bondi Junction.</p>
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Not so grand sales result for Iris Capital at Bondi Junction

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<p>A class action seeks to claim up to $100 million over allegations that GST was charged wrongfully on the sale of apartments in the ACT.  </p>
<p>International litigation funder IMF Bentham, which is working with Corrs Chambers Westgarth, announced the law suit to the ASX on Tuesday.</p>
<p>It has lodged a statement of claim with the Federal Court in NSW alleging Belconnen Lakeview, a company in the Hindmarsh Group, charged and collected GST on the sale of 352 units in Altitude Apartments when no GST was payable, The Australian Financial Review reported.</p>
<p>IMF Bentham has also identified 25 residential developments sold by various developers in the ACT that may fit the same criteria.</p>
<p>"Over 3000 unit owners in the ACT across a range of developments have already sent us their contracts, and in many cases it seems the purchaser was wrongly charged GST," IMF Bentham Sydney investment manager Oliver Gayner was quoted as saying by the AFR.</p>
<p>"We have given Belconnen Lakeview every opportunity to explain the conduct alleged in the statement of claim, and in the absence of any satisfactory explanation we have now determined to put the matter before the Federal Court to decide."</p>
<p>Assuming an average unit price of $450,000 and an average GST claim of around $40,000, as much as $100 million might be outstanding. </p>
<p>The statement of claim says Belconnen Lakeview used its accountant to obtain an ATO private ruling which switched the tax status from 'taxable' to 'input taxed' shortly before sales commenced. But the company did not inform its customers, who continued to be charged GST, according to the claim.</p>
<p>Hindmarsh Group in the ACT did not comment.</p>
<p>The federal government is also worried that some developers have not remitted GST on new apartments. </p>
<p>This year’s federal budget laid out that as of mid-2018, GST on new homes will be collected directly from home-buyers and not from developers. </p>
<p>The new remittance arrangement is expected to add $650 million in GST revenue over four years.</p>
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<p> </p>
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