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.

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.

“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.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

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.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“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.”

<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" />

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.

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 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.

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.

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

Asking Prices

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<div>The days of the successful greedy vendor are almost done.</div>
The five year surge in Sydney prices is now coming off, as the Reserve Bank wished.
The biggest gap I've seen between asking price and selling price was over 20 percent. They wanted $27 million and took $21 million in Sydney's pricey east.
Long after the ambitious public asking prices, the more sombre secret sales outcome becomes known.
Any neighbours up the street thinking of selling are then forced to come back in expectation. The new pricing mood becomes contagious.
There is nothing too distressing around pricing really for most sellers, although the emerging slowdown captures almost all, even thoughtful asking prices.
South Sydney Rabbitohs star George Burgess recently made a mild adjustment to the price hopes of his <a href="https://www.realestate.com.au/property-house-nsw-chifley-126771326" target="_blank">Chifley offering</a> (above and below).
<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/2018/3/19/chifley2.jpg" alt="">
Having initially sought $1.8 million, there's now guidance between $1,725,000 to $1,775,000, with Burgess and wife Joanne expecting a second child in August.
But first home buyers should pay extra careful attention to market conditions, not just the incentives on offer.
While the price declines may be minor, first home buyers ought be wary of over paying and potentially going straight into negative equity.
The weekend auction success rates that kicked off unexpectedly well with 70 percent selling, have weakened in the pre-Easter auction period with the clearance rate back in the 50s.
The market does seems set to continue to deteriorate further.
Most analysts tip the decline will be moderate, somewhere in the order of five to 10 percent over the next two or so years.
They don't see any trigger such as high unemployment that would escalate into more substantial price falls across all markets.
Certainly unexpected quick rate rises - rather than possibly a few extended over years - could be devastating for many households. 
There are extreme calls such as the US forecaster Harry Dent who forecasts a halving in values.
But demand for property arising from population growth, arising both internally and from migration, is expected to provide a floor.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

The Sydney property downturn starts with asking price mismatch

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Increases in Melbourne and Hobart residential asking prices led the nation over the year to November however Sydney property prices are still highest, according to SQM Research. 
Louis Christopher, managing director of SQM said Melbourne now leads the nation for growth in asking prices for houses, with a jump of 13.4 percent to $805,000 and 5.2 percent for units to $459,800 over the year to November.
<a href="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%2010.03.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%2010.03.31%20AM.png" alt="" width="460" height="484">
 
"Sydney median asking house prices have risen 4.7 percent to $1,193,400 over the year," he said.
"Over the month, median asking prices jumped 3.7 perccent in Canberra to $660,600, though unit prices are edging lower. 
"Prices in Darwin and Perth are still falling, with the median asking price for a house in Perth at $682,600, 5.2 percent lower than this time last year, and $616,700 in Darwin, down 6.0 percent."
The amount of residential listings rose 2.2 percent over the month to 347,362 new listings, down 4.2 percent from a year earlier.
"Sydney property listings rose 2.9 percent in November, though they are 3.8 percent lower than a year ago.
"In Melbourne, listings increased 3.0 percent over the month to a healthy 36,868, while in Hobart they jumped 7.0 percent, as some home owners try take profits on strong price gains.
<a href="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%2010.03.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%2010.03.46%20AM.png" alt="">
“Notably, asking prices for Brisbane units have edged lower over the year and downward pressure could remain on asking prices with emerging signs of oversupply in the city.
"That weakness could extend to Sydney and Melbourne with some oversupply also predicted in 2017 and 2018 there due to high levels of unit construction, particularly in inner-city areas."
 
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jonathanchancellor-7SQnKwU6yx

Melbourne, Hobart residential asking price increases lead nation: SQM Research

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<div>
Hobart leads the nation in year-on-year house asking price gains and the Melbourne market is hot according to SQM Research.
The latest Weekly Asking Prices Index from SQM Research found only Darwin and Perth had softer prices due to the mining downturn. SQM Research managing director Louis Christopher said asking house prices are higher in most capital compared to one year ago, highlighting the robustness of the national property market.
"Only Darwin and Perth continue to report softer prices, as can be expected with the mining downturn," he said.
"Elsewhere, Hobart leads year-on-year gains while Melbourne's property market too is hot.  
"Prices are slightly lower for Brisbane units, though asking prices for houses are up. Watch this space for emerging signs of oversupply in units, especially in Melbourne and Brisbane."
 
</div>
<div> </div>
<div><a href="/images/2016/10/27/Screen%20Shot%202016-10-27%20at%201.39.33%20PM.png" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/10/27/Screen%20Shot%202016-10-27%20at%201.39.33%20PM.png" alt=""></div>
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Hobart houses top nation in year-on-year asking price gains: SQM Research

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All sellers, or estate agents acting on their behalf, must make a 'due diligence checklist' available to prospective buyers at open for inspections. The checklist aims to help buyers indentify whether any issues that may affect the property and impose restrictions or obligations on them, if they buy it
<h2>Do I have to use an agent to sell my property?</h2>
Most sales are conducted through an estate agent or agent’s representative, but you can choose to sell without their assistance.
<h2>What sellers can expect from an agent</h2>
Agents are obliged to act responsibly and ethically when dealing with both buyers and sellers. Strict laws govern their licensing, authorisation and conduct.
Anyone in the business of buying, selling or leasing property on behalf of another person must either:
<ul>
<li>hold an estate agent’s licence </li>
<li>be employed and authorised by a licensed estate agent as an agent’s representative. </li>
</ul>
An agent’s representative must have written authority to act on behalf of their employer. The licensed estate agent is responsible for the employee’s professional conduct.
Only deal with a licensed estate agent or an authorised agent’s representative. You can check whether a person is a licensed estate agent or an agent’s representative by searching the Victorian Business Licensing Authority’s public register of estate agents.
If you list your property with an agent, you are engaging the agent to help sell your property. The agent will charge a fee for this service, usually in the form of a commission.
The agent is bound by professional conduct regulations to:
<ul>
<li>always act in your best interests </li>
<li>follow your lawful instructions </li>
<li>engage in good estate agency practice. </li>
</ul>
Estate agents must:
<ul>
<li>advise a seller that all commissions and other outgoings are negotiable </li>
<li>at an auction, disclose any bid made by the seller to advance the price of the property </li>
<li>communicate to you all verbal and written offers from prospective buyers, unless you instruct otherwise in writing </li>
<li>state an estimated selling price in the sales authority that does not misrepresent the price at which the agent genuinely believes the property may be sold. </li>
</ul>
You can expect the agent to:
<ul>
<li>advise on a method of sale </li>
<li>provide a marketing plan, and advertise and market the property </li>
<li>advertise an up-to-date price for the property reflecting rejected offers. It is not compulsory for a price to be advertised </li>
<li>organise and attend open house and other inspections </li>
<li>attract prospective buyers </li>
<li>organise and conduct an auction (if you choose this method of sale) </li>
<li>arrange the signing of the contract </li>
<li>collect and hold the full deposit. </li>
</ul>
Estate agents must not:
<ul>
<li>mislead or deceive any party </li>
<li>make or accept dummy bids </li>
<li>at an auction, accept any late bids after the fall of the hammer </li>
<li>keep any rebates or discounts they receive for advertising or other services they buy on your behalf. They must immediately pass these on to you </li>
<li>charge you more for advertising or other outgoings than you authorised in writing or they paid for the service. </li>
</ul>
<h2>
<a name="choosing-an-estate-agent" href=""></a>Choosing an estate agent</h2>
Start by:
<ul>
<li>checking the internet and local papers to find agencies, the services they offer and sale price information </li>
<li>speaking to friends about their experiences </li>
<li>reading promotional material from a range of agencies including local agents, who are more likely to be familiar with the local market </li>
<li>talking to several agents and arranging to meet them. </li>
</ul>
When you meet with agents, discuss:
<ul>
<li>their knowledge of the market in the area </li>
<li>comparable local sales </li>
<li>their marketing plan for the property </li>
<li>their estimated selling price </li>
<li>their commission, or how much they will charge </li>
<li>the cost of advertising and other outgoings. </li>
</ul>
Ask the agent to provide quotes for their services in writing.
Do not choose an agent just because they give you the highest estimated selling price.
Get several agents to appraise your property and give you an estimated selling price. Ask them to justify their price by showing you similar properties sold at similar prices in the area.
Take into account the agent’s overall marketing plan when making your decision.
Do not sign anything, including a sales authority, unless you are prepared to engage the services of that agent. You do not have a cooling-off period (time to change your mind) after signing a sales authority.
<h2>
<a name="estimated-selling-price" href=""></a>Estimated selling price</h2>
This is the price the agent estimates your property will attract, based on their experience and knowledge of the market.
The estimated selling price:
<ul>
<li>is not a valuation or a guaranteed selling price </li>
<li>does not have to be the same as your reserve price </li>
<li>must be recorded in the sales authority as either a single amount or a price range. </li>
<li>If recorded as a range, the difference between the top and the bottom figures must not be more than 10 per cent of the bottom figure. For example, a quoted range of $400,000 to $440,000 is $400,000 plus 10 per cent. </li>
</ul>
Price misrepresentation
The practice of deliberately overstating the estimated selling price to get your business is known as overquoting.
It is illegal for an agent to:
<ul>
<li>mislead you about the estimated selling price of your property </li>
<li>advertise or advise a prospective buyer of a price that is less than your asking price, or if there is no such price, the agent’s estimated selling price. This is known as underquoting. </li>
</ul>
<h2>
<a name="commissions-and-commissions-selling" href=""></a>Commissions and commission sharing</h2>
Commissions
Most agents are paid by commission on completion of the sale. An agent cannot claim a commission unless you sign a sales authority.
An agent must advise you that the commission is negotiable, before you sign the sales authority.
There will be costs associated with marketing and advertising a property, on top of the agent’s commission.
The commission:
<ul>
<li>is not a set amount. You can negotiate the amount with the agent </li>
<li>can be paid as either a fixed fee or a percentage of the sale price, or as a combination </li>
<li>must, when agreed, be recorded on the sales authority. If you agree to a percentage, the commission must also be shown in dollar terms on the sales authority. The dollar amount is calculated on an approximate sale price to give you an indication of the amount of commission you will owe. </li>
</ul>
If the agent is using a commission scale, make sure you are clear about how much you may have to pay. For example:
The agent’s commission may be 3.3 per cent (including GST) on a scale up to $500,000 and 3.85 per cent (including GST) if the sale price is more than $500,000.
You might interpret this as only the amount above $500,000 having a 3.85 per cent commission. However, if the sale price exceeds $500,000, the agent may interpret this as the entire sale price having a 3.85 per cent commission.
Check the dollar amount stated in the sales authority and, if you are still unsure about how the commission is to be calculated, ask your agent to provide examples based on various possible sale prices.
At settlement, your agent will deduct their commission from the deposit, pay you the balance and give you an account for the sale. If you dispute the amount of commission your agent has charged because it is excessive, you can:
<ul>
<li>
<a href="https://www.consumer.vic.gov.au/contact-us/make-a-complaint">make a complaint to Consumer Affairs Victoria</a>. You must make the complaint within 28 days of receiving the agent's account </li>
<li>apply to the Victorian Civil and Administrative Tribunal for a decision on the dispute. </li>
</ul>
Commission sharing
An agent must advise you in writing if they will be sharing the commission with someone outside their own agency, such as a legal practitioner, conveyancer or another agent.
They must provide a written list of the people who will share the commission, before you sign the sales authority.
If a commission-sharing arrangement is entered into after the sales authority has been signed, the agent must:
<ul>
<li>update the sales authority with the relevant details </li>
<li>ask you to approve the arrangement, and sign and date the amendments. </li>
</ul>
<h2>
<a name="marketing-and-advertising" href=""></a>Marketing and advertising</h2>
Ask for a comprehensive, written marketing plan. This:
<ul>
<li>will be based on the agent’s experience, the nature of the property and your preferences </li>
<li>should include advertising methods and costs, and the price or range at which the property will be advertised. </li>
</ul>
Even if the property fails to sell, you will have to pay for marketing and advertising costs that you have authorised. You can avoid this expense by negotiating a ‘no sale, no fee’ arrangement in the sales authority, but make sure there are no hidden charges.
To be clear what you are paying for, ask the agent to provide a written schedule outlining advertising and other outgoings. All expenses are negotiable and must be recorded in the sales authority.
Rebates
Agents can be offered significant discounts or rebates by newspapers for buying bulk advertising.
It is illegal for agents to keep advertising or any other rebate, even if you agree.
<ul>
<li>An agent must pass on to you any rebate or discount they receive, such as for advertising. </li>
<li>If benefits are received in a form other than money, such as gifts, then the monetary value of the gift must be passed on to you. If the exact price is not known, then the agent must estimate the value. </li>
</ul>
The amount of any rebates or benefits must be stated in the sales authority.
<h2>
<a name="sales-authority" href=""></a>Sales authority</h2>
When you choose the agent, you will be asked to sign a ‘sales authority’ appointing that agent. This is a legally binding contract, which sets out all details of your agreement with the agent, including:
<ul>
<li>whether the property is to be sold by private sale or auction and, if by auction, the auction date </li>
<li>the negotiated commission and marketing expenses with GST set out separately </li>
<li>the circumstances under which commission is payable. This will depend upon the type of authority signed, whether it is an ‘exclusive’ or ‘general’ authority </li>
<li>the agent’s estimation of the likely selling price </li>
<li>the authority period or amount of time given to the agency to sell the property. </li>
</ul>
The authority must also include two statements:
<ul>
<li>a rebate statement, completed if the agent is to receive any rebates from the advertising expenses </li>
<li>a complaints statement, which explains that you can lodge a complaint at Consumer Affairs Victoria if there is a dispute over commission or outgoings. </li>
</ul>
If the agency is to share commission for the sale, either:
<ul>
<li>the sales authority will include a commission-sharing statement </li>
<li>you may be given a separate statement before signing the authority, informing of commission-sharing arrangements. </li>
</ul>
If you want to make any changes after the authority has been signed, they must be made in writing on all copies of the sales authority and initialled by both you and the agent.
Authority types
Exclusive authority:
This is the most common type of sales authority. It means you appoint one agency to market your property.
The agency is entitled to commission when the property is sold, and can claim commission even if you sell your property without their help.
You should not sign more than one exclusive authority, as you may have to pay more than one commission in certain circumstances.
<h4>General authority:</h4>
This is less common. You list with more than one agency but only pay commission to the agency that sells your property.
What can be negotiated?
You can negotiate many aspects of the sales authority with the agent, including:
<ul>
<li>the method of sale: </li>
</ul>
There are two main ways of selling a property: by auction or private sale. Both methods have advantages and disadvantages. An agent will be able to recommend the best method of sale for your particular circumstances
<ul>
<li>the authority period: </li>
</ul>
The period of time the authority is in force with the agent. Once you sign the authority, you will not be able to cancel it during this period unless the agent agrees. There is no cooling-off period with an authority. We recommend your authority period does not exceed 60 days.
If no period is stated on an exclusive authority, the default period for sale by auction is 30 days after the date of the auction. For a private sale, the default period is 60 days after the sales authority was signed.
If the authority period expires and the property has not been sold, you should notify the agent in writing if their services are no longer required
<ul>
<li>the commission: </li>
</ul>
The commission or agent’s fee is completely negotiable. You may wish to negotiate a ‘no sale, no fee’ contract, meaning you will not have to pay any commission or outgoings unless the agent completes the sale of the property. Check that there are no hidden charges.
<ul>
<li>advertising and other outgoings: </li>
</ul>
The amount spent on marketing and advertising is negotiable.
<ul>
<li>other terms and conditions: </li>
</ul>
Make sure you understand and agree upon all terms and conditions before signing. These conditions are negotiable. Any changes (deletions, amendments or additions) must be made on the authority and initialled by both parties.
All verbal agreements should be confirmed in writing on the authority and signed by both parties. If you have specific instructions for the agency, attach them to the authority.
<h2>
<a name="unfair-contract-terms" href=""></a>Unfair contract terms</h2>
The sales authority is a legally binding consumer contract.
Victoria has laws to prevent unfair terms in consumer contracts. A term is unfair if it:
<ul>
<li>causes a significant imbalance in the rights and obligations of both parties to the detriment of the consumer </li>
<li>was inserted in the contract intentionally. </li>
</ul>
Agents must make sure their sales authorities comply with the law.
If you believe there is an unfair term in a sales authority, contact the Estate Agents Resolution Service at Consumer Affairs Victoria on 1300 73 70 30.
<h2>
<a name="selling-property-without-an-agent" href=""></a>Selling property without an agent</h2>
Selling property without an agent involves:
<ul>
<li>deciding the sale price or range. Consider engaging a qualified valuer to assess the property </li>
<li>advertising the property </li>
<li>negotiating the price </li>
<li>obtaining a deposit </li>
<li>providing the contract of sale with the Section 32 statement attached and arranging for it to be signed </li>
<li>handling settlement. </li>
</ul>
You will need to engage a conveyancer or legal practitioner to prepare a Section 32 statement (vendor's statement) and contract of sale.
<a href="https://www.consumer.vic.gov.au/housing-and-accommodation/buying-and-selling-property/selling-property/selling-property-with-or-without-an-agent" target="_blank">More information can be found here </a>
 
<div> </div>
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Selling with out an agent in Victoria

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The NSW Government has said it will spend another $400 million to make land for housing shovel-ready and $19 million to create a planning body to oversee a plan to build 664,000 homes in 15 years. 
This addition to the Housing Acceleration Fund adds to the $566 million invested since its inception in 2012 and suggests the State Government subscribes to the shortage theory. 
But there’s another perspective on dwelling supply in Sydney – one that points to looming oversupply because of an overbuilding of apartments, a syndrome that’s rapidly spreading to all the capital cities of Australia.
Dr Nigel Stapledon of the University of NSW is one of those who believes Sydney is building too many apartments. Stapledon’s views deserve respect as someone who has comprehensively researched real estate in Australia, including one vast assignment which examined prices and rents going back more than a century. 
In a recent report, Stapledon said Sydney is about to be hit by a wave of new units, resulting in falling prices and rents in 2016. 
Stapledon said 13,000 new units will hit the market in Sydney before the end of the year. And an average of 28,000 new units will be completed each year for the next three years. Stapledon said that figure is more than double the historical average – between 2005 and 2014 an average of 15,700 new units were completed each year. 
The increase in supply could result in prices falling "north of 10%" within the next nine months, he said. The first sign of the slowdown will be an increase in rental vacancies followed by lower rent prices and a decline in investor demand.
His views make sense to me as recent history around Australia has shown that the one factor that can cause prices to fall significantly is an oversupply of dwellings. We’ve seen it recently in Gladstone in Queensland, the Hunter region in NSW and Port Hedland in WA, where a major lift in supply has been the big factor is sending a former boom into reverse. We’ve seen it in the past in apartment markets, including the Gold Coast and Melbourne.
If Stapledon is right, Sydney will join Melbourne, Brisbane, Perth and Darwin as capital cities which already have, or will soon have, serious gluts of inner-city apartments.
It seems every research entity relevant to Melbourne real estate has joined me in warning about the overbuilding of inner-city units. But new projects keep on coming. 
The latest mega project is an application for six towers in Fishermans Bend, with 1,580 units in a $600 million development south of the West Gate Freeway. Meanwhile, a 600-unit project has been proposed for South Kingsville and VCAT has approved a 450-unit project at South Yarra.
Melbourne may be the population growth capital (Melbourne added 95,600 to its population in 2014, compared to Sydney’s 84,200) but there are limits to how many units are needed – and to how many can be flogged to Asian investors.
The issue with Melbourne’s unit over-kill is not just the number being built – it’s also the size of them. On 5 July, The Age reported that “units with not enough space for basic activities such as eating at a dinner table” are planned for a new CBD tower. The 250m tower at 280 Queen Street by Brady Group has been branded too tall and bulky by council planners, who also found many of its 589 units were under-sized. 
The planners’ report said: "Many of the units are too small to allow for basic daily activities and functions such as eating at a dining table, or having a dressing table in the bedroom whilst maintaining access to the wardrobe." 
Although there will be 46 three-bedroom units, the planners said most were less than 70m2 - the minimum size for a two-bedroom unit in Sydney. 
According to council research, many bedrooms in Melbourne's high-rises do not have natural light. There’s a growing trend towards small floor plans, with 40% of the city's units less than 50m2. 
For all the above reasons, Melbourne inner-city apartments are shaping as very bad investments. You have wonder about the mentality of the investors who are lining up to buy them. Research is clearly not part of their process.
And it looks like Sydney is heading down the same slippery slope to surplus.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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The slippery slope to Sydney and Melbourne apartment surplus: Terry Ryder

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Sydney house asking prices climbed 2.8% in June, with a median asking price at $1,120,700 and the median unit asking price at $615,400, according to new figures released by SQM Research.
Asking prices for Sydney houses continued to climb over June, with a total monthly rise of 2.8%. The median asking price for a house has now reached $1,120,700 while the median unit in Sydney dropped over June and is now advertised at $615,400.
The number of listed properties across Australia fell 6.5% in June from May with Sydney and Melbourne suffering the greatest monthly change.
National listings are down 3.2% from a year earlier, with falls in Melbourne, Sydney and Hobart the greatest when compared year-on-year.
<a href="/images/2015/07/13/sqm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/13/sqm.jpg" alt="" width="841" height="285">
 
The biggest yearly change in listings was in Melbourne with 20.2%, Sydney down 15.7% and Hobart 8.4%
The house price median in Darwin fell 2.4% over the last 12 months and units 8.4%. Perth homes were down 3.6%, and units 1.0%.
<a href="/images/2015/07/13/74cc50f6-0129-4b19-b957-e4766d421983.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/13/74cc50f6-0129-4b19-b957-e4766d421983.png" alt="">
 
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Median Sydney house asking price above $1,120,000: SQM Research

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Recently, 116 people were surveyed by Certified Practising Real Estate Agents (CPREA), with 73% saying that they would expect a lower price from a private seller compared to a property listed by an agent.
CPREA chairman Geoff Baldwin said it’s not uncommon for buyers to negotiate even harder when they know that an agent isn’t representing the vendor, resulting in the buyer usually achieving a lower price.
“When confronted with a lower offer from a buyer, private sellers tend to think, well I’m not paying an agent and hence are more likely to accept a lower price,” said Baldwin.
“In fact listing the property with a proven, experienced negotiator can not only justify the agent fees but in many cases will result in a sale price thousands, if not tens of thousands higher than if sold privately,” he said.
He also noted that many property owners can find it difficult to deal directly with buyers, particularly those that are negative about a property, and can struggle to assess the financial capacity of buyers, deal with “subject to sale” offers, write solid contracts, get meaningful deposits and other aspects.
Property Observer readers – what’s your take?
{mijopolls 54} 
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jduke-EHk3XBmHkn

 Do you expect a reduction in price if home is sold without an agent?

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SQM Research has recorded flat asking prices and rising stock levels across the country for the first quarter of 2014.
According to the research firm’s latest figures, the capital city average house asking price fell 1.6% over the March quarter, while unit prices stayed flat. Sydney asking prices for houses dipped by the same 1.6%, with units rising by just 0.2%, a result that may surprise some given the bullish outlook many commentators had for the city at the beginning of the year.
Adelaide was the quarter’s strongest capital city market, with house asking prices increasing by 0.9% and units climbing by 3.5%.
SQM Research managing director Louis Christopher noted that SQM’s findings for the quarter differ from those provided by RPData.
“This is all in contrast to the very bullish findings from the RP Data daily index, which among other things, reported a very sharp rise in Melbourne dwelling prices of 5% for the quarter and now has Sydney up over 15% for the year,” said Christopher.
“While that index may be meeting our forecasts this year of 15-20% rises for Sydney, SQM Research continues to remain dubious of it and strongly recommends for you to follow the ABS and APM versions of house price sold data, which will be reporting early next month based on a lot more sold data for the quarter gone by.”
The firm also reports a rise in stock on market for March, with a 1.8% increase over the month to 352,369 dwellings.
However, the national stock level was down 5.2% on a year-to-year basis, with Sydney’s stock on market down 17% from March 2013.
Darwin recorded the highest jump in stock on market from the previous year, with listed dwellings rising 12.8% from 1,221 in March 2013 to 1,335 last month. SQM Research noted that stock on market levels are particularly vulnerable to seasonal influence, making monthly fluctuations a less useful indicator of market conditions than year on year analysis.
The research company expects a fall in listings over the Easter holiday period.
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