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

Boarding House

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Boarding houses have proven to be one of the most resilient investments during COVID-19 with strong buyer demand leading to around $10 million in sales over the past three months.
Two development sites with approval for boarding houses have recently been sold in deals negotiated by Knight Frank, with a third sale of a boutique site sold for build to rent purposes.
A 975.5sq m property at 10 Naree Road in Frenchs Forest with approval for the demolition of an existing residential property and construction of a boutique 28 self-contained studio apartment ‘new generation’ boarding house was sold prior to auction for above $3 million.
The property was sold by Anthony Pirrottina, Demi Carigliano and Arland Domingo of Knight Frank after strong competition from local developers.
Another property at 88 Liverpool Road in Summer Hill, a 319.4sq m site with approval for a mixed-use development comprising one commercial tenancy and eight residential apartments totalling 465sq m, sold for $1.975 million after 111 bids at auction. The deal was negotiated by Anthony Pirrottina and Demi Carigliano of Knight Frank to a purchaser seeking to develop and retain the property as a mini ‘build to rent’ scheme.
A third DA approved boarding house development was transacted in the mid $3 million range offmarket in Ashfield to a local developer seeking to bolster their exposure to the boarding house and Inner West Sydney rental market.
Mr Pirrottina said that while the property market has been challenging in certain sectors since Coronavirus restrictions began in March, boarding houses continue to remain a strong investment class, with strong buyer interest particularly from a development perspective."
Mr Carigliano said as an investment class, boarding houses were a niche sector but buyer appetite had grown over the past three years in New South Wales, when planning laws were amended to allow for greater development of these assets.
“These assets provide buyers – who are often developers – with passive income and yields in the vicinity of 5% to 6.5% compared to a 3% to 4% yields for blocks of residential units,"  “The best performing assets are located in suburban Sydney markets, close to infrastructure including hospitals, public transport and universities. “Boarding houses can also be sold in one line as they are not strata-titled like units, which means investors can trade out of the asset faster if desired.”
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j.ballantyne1990-6AQqhLzZaK

Boarding houses prove to be COVID-safe investment

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The former three star hotel Bondi Sinclairs has been listed for auction.
The 24 room boarding house at 11 Bennett Street in Bondi is being marketed by CBRE's Paul Grasso as being potentially suitable to be converted in to residential apartments.
Set on a 505 sqm block, the three level block has ocean views from the elevated floors.
It last traded for $2.8 million in 2004, and has previously been around $90 a night to book a room, some which come with their own private bathrooms.
The building is going under the hammer October 13 and is being offered with vacant possession. 
 
    
 
 
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jrobinson-rf4aSBido9

Sinclairs Bondi up for auction up for auction with residential conversion potential

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A substantial boarding house on the fringe of Surry Hills and Redfern has been listed for sale for the first time in over a decade.
The property at <a href="https://www.commercialrealestate.com.au/property/745-747-south-dowling-street-redfern-nsw-2016-2015106578" target="_blank">745-747 South Dowling Street</a> last traded for $2.5 million in 2007.
It's been listed by Alex Thorpe and Rhys Williams, the business partners behind designer hotel giant Veriu who made their money in student accomodation and furnished rooms.
Veriu was launched in 2016 but dates back to 2002 when Thorpe and Williams identified a niche in furnished accommodation leasing. They started with two rooms in Bondi. 
The South Dowling Street property spans three storeys and has 23 rooms.
It will be offered with a flexible operating structure which will be an initial lease of five years with 3 x 5-year options with an approximate return of $435,000 net.
<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/2019/4/3/Dowling2.jpg" alt=""> 
The structure will also incorporate a demolition clause allowing owner operators the opportunity to take the keys and maximise cash flow. 
Colliers International are marketing the property in conjunction with McGees Property.
Colliers agent Miron Solomons says the property benefits from literally billions of dollars of infrastructure projects both public and private being invested in the immediate precinct, including the new Sydney Light Rail, Surry Hills Shopping Village project, the Entertainment Quarter and the Stadium revitalisation project.
He said they anticipate interest across multiple buyer profiles ranging from investors to owner occupiers including student accommodation and boarding house operators.
“These candidates understand the intrinsic growth of owning and even operating assets surrounded by infrastructure investment and in close proximity to the education hub and nearby colleges," Solomons said.
The prominent corner freehold is set over two titles with a site area of around 380 sqm and is zoned R1 – General Residential. It has a May 9 auction date.
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Veriu founders list Surry Hills boarding house Park Side

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Boarding houses already with development approval are in high demand, according to the estate agency Savills.
The spike in interest comes after the NSW government has sought to limit boarding houses to a maximum of 12 rooms per site.
They are also seeking to limit boarding houses to just 0.5 car spaces per boarding room.
Savills Australia is seeing an influx of property owners looking to offload their assets and capitalise on the market in response to market uncertainty surrounding the new legislation.
Nick Tuxworth, associate director for the metropolitan &amp; regional Sales team, said he expected to see a spike in prices for properties that have already received development approval.
“We anticipate demand for such sites to build from developers who see them as high-yielding investments with 15-20 per cent returns and low vacancy rates,” he said.
"The tough rules exist to ensure boarding houses are only approved where they are close to public transport and adequate additional parking, and are compatible with council rules on density and building height”.
“The reason for the 12-boarding-room limit on boarding house developments in the R2 Zone is to address community concerns about amenity impacts, such as overlooking, overshadowing, and the loss of on-street car parking,” he said.
The metropolitan &amp; regional sales team recently sold a <a href="https://www.commercialrealestate.com.au/property/60-william-street-jesmond-nsw-2299-2014791772" target="_blank">Jesmond site</a> (top) for $1.175million, which had approval for 40 rooms, to a Sydney developer looking for “something more affordable in rural NSW”.
Director Nick Lower said many developers have been caught out by the changes.
“This market has been regulated by the government in the past 12 months, which has caught many developers out, and has forced changes in their DAs,” director Nick Lower said.
“We are finding several owners wanting to offload their sites due to these regulations so it’s a good time to be selling, as there is huge demand for approved sites with future uncertainty.”
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Savills expects high demand for boarding houses with development approval as NSW seek room limits

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EXPERT OBSERVER
Recent proposed changes to Boarding House legislation in NSW is pandering to elitists.
The NSW Department of Planning has issued a draft proposal to change the Affordable Rental Housing State Environmental Planning Policy 2009 in relation to the number of rooms permitted in boarding houses in R2 zones.
Boarding houses are an important source of affordable rental accommodation but it seems some communities would prefer them to be Not In My Backyard (NIMBY) and have put pressure on the government to minimise their impact.
The result is a draft proposal to limit the size of a new Boarding House to only 12 rooms in R2 areas.
If these changes are implemented they will make boarding houses unfeasible in many areas of Sydney where more affordable housing is desperately needed.
This proposal follows changes introduced in June 2018 to require 0.5 car spaces per room up from 0.2 spaces.
These additional onerous requirements greatly affect the feasibility of boarding house development resulting in a diminished supply of this type of affordable accommodation.
There is a clear shift in Sydney to rental housing as opposed to home ownership and this means governments must support Build to Rent models for long term rental accommodation as well as the more affordable new generation boarding houses.
The Urban Taskforce is concerned that the erosion of support for boarding houses that the current NSW Government is driving is making the feasibility of delivering this important contribution to housing affordability unsustainable.
The concerns of communities about this housing type can be handled through quality design so that boarding houses compliment the local character of an area.
We suspect however that the community concerns are more about objecting to the people who live in affordable rental housing than concerns about the buildings.
CHRIS JOHNSON is the Urban Taskforce CEO
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Boarding house changes are pandering to elitists: Chris Johnson

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The NSW Government is considering reforms to cap the number of boarding rooms allowed in a boarding house development in low-density residential zones.
The cap with be a maximum of 12 per site.
Anthony Roberts, The Minister for Planning, said the changes had been drafted in response to concerns from communities about local impacts of some boarding house developments.
“Tough rules already exist governing the development of boarding houses to ensure they are only approved where they are close to public transport, compatible with council rules on density and building height, and where there’s adequate additional parking.
“We have listened to the community and councils and what we’ve heard is that they want more limits placed on these developments in low density areas.
He said the limit on boarding house developments in the R2 zone would address community concerns about amenity impacts, such as overlooking, overshadowing and loss of on-street car parking.
Labor introduced a boarding house State Environmental Planning Policy (SEPP) in 2009, but never imposed a room limit. 
“Establishing a maximum number of boarding rooms per site in low density zones will help to better manage any amenity impacts of boarding house developments on adjoining and nearby properties.”
Mr Roberts said the Affordable Rental Housing State Environmental Planning Policy (ARHSEPP) had already been amended earlier this year to address concerns about off street parking.
“The AHRSEPP was originally introduced in 2009 to increase the supply and diversity of affordable rental and social housing throughout NSW. 
“However, it’s clear that the size, scale and proliferation of boarding house developments in the R2 zone is not in line with what was envisaged when the ARHSEPP was introduced.
“We already made changes in June this year, in response to community concerns, to increase car parking standards to 0.5 spaces per boarding room in all locations.
“The proposed changes we are releasing today support the Government’s commitment to keep listening and to make sure communities are at the heart of planning policy,” he said.
The community is invited to comment on the proposed amendments which will be on exhibition from 28 November to 19 December 2018.
For more information <a href="https://www.planning.nsw.gov.au/affordablerentalhousingsepp" target="_blank">click here.</a><a href="https://protect-au.mimecast.com/s/vq0gCJyBy2tqBpAvtVHgiM?domain=planning.nsw.gov.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/vq0gCJyBy2tqBpAvtVHgiM?domain%3Dplanning.nsw.gov.au&amp;source=gmail&amp;ust=1543452549674000&amp;usg=AFQjCNEIsFj_FRyzheqg4UvRC--AdN5_9w"> </a>
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NSW government set to impose room limits for boarding houses in low density zones

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<div>The Jaycar Electronics, Bondi Junction premises sold at auction this morning for $4,445,000.</div>
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<div>It was listed by a syndicate headed by Sam Brewer.</div>
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<div>Jaycar recently renewed the lease until 2022 for the 125 Bronte Road premises.</div>
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<div>They are a national tenant with 100 stores through Australia and New Zealand.</div>
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<div>Jaycar have been at this location since 2006, auctioneer David Scholes noted.</div>
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<div>The site (pictured above) recently secured DA approval for a four level boarding house with 21 studio apartments.</div>
<div>
It is set over 424 sqm.
The property currently has a net income of $217,350 pa + GST and a net lease with tenant paying 100% of all outgoings, as per lease with fixed 3.5% increases annually.
<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/2018/10/4/Jaycar%202.jpg" alt="">
The corner has three street frontages (pictured above).
The property last sold for $2.04 million in 2014.
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Jaycar Bondi Junction redevelopment site sold

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Graceland, the Cleveland Street boarding house in Redfern, has been listed for sale for the first time in over two decades.
Formerly known as Meath House and Illoura, the property at <a href="https://www.commercialrealestate.com.au/property/461-cleveland-street-redfern-nsw-2016-2014718038" target="_blank">461 Cleveland Street</a> last traded for $725,000 in 1996.
The grand three storey terrace is the tallest on the long street.
<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/2018/10/22/Grace2.jpg" alt="">
It was built in the mid 1800s and was called home by Patrick Stanley, the four time mayor of Redfern.
The bright blue 485 sqm building is now a fully licenced 10 room, 20 person boarding house.
Fashion designer Melanie Greensmith also once called Gracelands home.
<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/2018/10/22/grace3.jpg" alt="">
She said it was full of musicians and artists, including singer-songwriter Tex Perkins. 
There's a two storey cottage on the rear of the 455 sqm land parcel which is currently leased at $750 a week until July 2019.
The boarding house is being offered as a going concern by TGC agent Scot Robertson, who has a November 17 auction.
Operated as fully-licensed budget accommodation, the house currently<a href="https://www.commercialrealestate.com.au/property/461-cleveland-street-redfern-nsw-2016-2014718038" target="_blank"> </a>returns about $190,000 a year gross.
 
 
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Redfern boarding house icon Graceland listed

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California, a 14 room boarding house fronting the busy Flinders Street in Darlinghurst, was passed in at auction last night at $3,975,000.
Refurbished since it last traded for $1,845,000 in 2010, <a href="https://www.realestate.com.au/property-other-nsw-darlinghurst-128628702" target="_blank">60 Flinders Street</a> (pictured below) on 190 sqm has three levels at the front and two at the rear.
<img src="https://www.urban.com.au/images/2018/7/18/DARLINGHURST.JPG" alt="">
Currently it yields around $323,000 gross annual revenue.
It sits near Taylor Square, Oxford Street, Surry Hills and Moore Park, with two street frontages to Flinders and Chisholm Streets.
The 14 rooms are currently made up of nine double studios, eight fully self-contained with their own ensuites, and five single units all with kitchenettes. They share three bathrooms.
There's an undercover communal courtyard with custom timber seating and barbecue facilities and an on-site coin-operated laundry.
It is being sold as a going concern, with all furnishings and inventory included in the sale.
Dominic D'Ettorre at D'ettorre Real Estate was marketing the property in conjunction with McGees Property agent John Grujovski.
They suggest its a fusion of modern design and classic features.
The vendor of California has listed the <a href="/expert-insights/investing/two-paddington-terrace-boarding-house-listed">Paddington boarding house Belle Vue</a> (pictured above) which was passed in at $5.15 million when offered at Cooley Auctions.
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14 room California, Darlinghurst boarding house passed in at $3.975 million

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California, a 14 room boarding house fronting the busy Flinders Street in Darlinghurst, has been listed for sale.
Refurbished since it last traded for $1,845,000 in 2010, <a href="https://www.realestate.com.au/property-other-nsw-darlinghurst-128628702" target="_blank">60 Flinders Street</a> on 190 sqm has three levels at the front and two at the rear.
Currently it yields around $323,000 gross annual revenue. It sits near Taylor Square, Oxford Street, Surry Hills and Moore Park, with two street frontages to Flinders and Chisholm Streets.
The 14 rooms are currently made up of nine double studios, eight fully self-contained with their own ensuites, and five single units all with kitchenettes. They share three bathrooms.
There's an undercover communal courtyard with custom timber seating and barbecue facilities and an on-site coin-operated laundry.
It is being sold as a going concern, with all furnishings and inventory included in the sale.
Dominic D'Ettorre at D'ettorre Real Estate is marketing the property for a July 17 auction in conjunction with McGees Property agent John Grujovski.
They suggest its a fusion of modern design and classic features.
The vendor of California has also listed the Paddington boarding house Belle Vue.
 
 
 
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