Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[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.

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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>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[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.

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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

Landmark White

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Following the recent reinstatement of Commonwealth Bank, LandMark White has now secured Westpac as resuming its valuation workflow.
LMW told its shareholders that still requires reinstatement from a majority of our remaining banking clients before LMW can provide reasonable financial projections.
It remains suspended from the ASX.
It was February 19 when Westpac Group moved to protect the personal information and privacy of its borrowers after the recent data breach involving LandMark White Limited.
"We are investigating this matter and it is our immediate priority to contact and support any Westpac, St.George, Bank of Melbourne, BankSA or RAMS customers who may be affected," it advised.
Westpac believed only a small number of individuals are potentially impacted.
The data disclosed includes property valuation details and some contact details (such as names, addresses and email addresses) of the various parties involved in the property valuation process.
No loan application details, such as financial and identification documents, were disclosed.
LMW also told its shareholders today that an advertisement in today’s Australian Financial Review seeking Expressions of Interest for a “Property Services Business” did not relate to LMW.
Last month LandMark White was reinstated by Commonwealth Bank to its panel for residential valuations.
Marking a significant step for the company after the <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">recent cyber-attack</a>, Keith Perrett, Chairman of LandMark White, said the decision made by Commonwealth Bank is an endorsement of the actions taken by the company in response to the incident.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders.
"Commonwealth Bank recognised the risk to our company, our staff and shareholders, and reviewed the enhancements to our systems and networks in an efficient manner while also ensuring its affected customers were supported,” Mr Perrett said.
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The company has been working closely with financial institutions throughout the last few weeks – including all of Australia’s major lenders – to ensure its systems and networks are now subject to the highest level of security and monitoring.
Commonwealth Bank, as well as NAB and ANZ, <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">dropped LandMark White</a> following the attack.
LMW liaised with Commonwealth Bank’s Data Protect Group to assess and improve its datasecurity environment, while the company has also committed to a framework for robust risk management and continuous improvement.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders. 
“It’s a great sign of faith in our company and our people, and I thank the Commonwealth Bank for the support they have shown LMW in the last few weeks. We are confident we now have one of the most secure systems and networks for a property valuation company in Australia.”
“We have been a trusted member of the industry for nearly 40 years and with the support ofall the major banks, we’re confident we’ll be here for another 40 years and longer.”
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j.ballantyne1990-6AQqhLzZaK

LandMark White see Westpac return after dark web data privacy breach 

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LandMark White has been reinstated by Commonwealth Bank to its panel for residential valuations.
Marking a significant step for the company after the <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">recent cyber-attack</a>, Keith Perrett, Chairman of LandMark White, said the decision made by Commonwealth Bank is an endorsement of the actions taken by the company in response to the incident.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders.
"Commonwealth Bank recognised the risk to our company, our staff and shareholders, and reviewed the enhancements to our systems and networks in an efficient manner while also ensuring its affected customers were supported,” Mr Perrett said.
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The company has been working closely with financial institutions throughout the last few weeks – including all of Australia’s major lenders – to ensure its systems and networks are now subject to the highest level of security and monitoring.
Commonwealth Bank, as well as NAB and ANZ, <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">dropped LandMark White</a> following the attack.
LMW liaised with Commonwealth Bank’s Data Protect Group to assess and improve its datasecurity environment, while the company has also committed to a framework for robust risk management and continuous improvement.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders. 
“It’s a great sign of faith in our company and our people, and I thank the Commonwealth Bank for the support they have shown LMW in the last few weeks. We are confident we now have one of the most secure systems and networks for a property valuation company in Australia.”
“We have been a trusted member of the industry for nearly 40 years and with the support ofall the major banks, we’re confident we’ll be here for another 40 years and longer.”
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CommBank resumes LandMark White valuations

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The Australian Property Institute (API) is rallying to support the property industry in the wake of recent cyber attacks on Australian organisations.
The announcement comes after property valuation firm Landmark White (LMW) saw data sets stolen and listed <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">on the dark web</a>.
The Landmark White case saw its boss, Chris Coonan, <a href="/news/landmark-white-chief-chris-coonan-quits-following-dark-web-data-security-breach">step down from his role</a>.
Amelia Hodge, CEO of API, said any enterprise can be caught by cyber crime.
“Cyber attacks are criminal acts, and recent cybercrime by unknown perpetrators on a range of Australian private and public sector entities demonstrate that any enterprise of any size can fall victim," Hodge said.
“Our concern is obviously for our members and the clients impacted by these criminal acts. 
"We are here to fully support those impacted in any way we can. We have just under 400 API families directly impacted by the suspensions and it is important to move to a business as usual state as quickly as possible.” LMW is not alone. In February, the Federal Government announced that the Australian Parliament and political parties had also been subject to cyber attacks. 
Hodge said that in the case of LMW, the company has reported that the personal information disclosed ranges from relatively benign and publicly available, to, in a small number of cases, more detailed category identification information.
“We are further informed that the breach was isolated, that it has been fully investigated by the relevant authorities and there is no evidence of misuse of any of that personal information,” Hodge said. LMW have been working with independent cyber security consultants, along with the Australian Cyber Security Centre (ACSC) and the Office of the Australian Information Commissioner, to ensure client information and LMW’s network is secure.  “Cyber attacks represent just one of the risks businesses face simply because they are in business,” Hodge said.
“Because they are criminal acts, no business is immune. While it is not possible for enterprises to completely remove all cybercrime risk, it is possible to prepare for the possibility, mitigate the risk, contain and remediate any damage following a cyber attack and, in the interests of all, be able to return to business-as-usual as soon as the risk is satisfactorily resolved.”
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jonathanchancellor-7SQnKwU6yx

Australian Property Institute rallies to support industry in wake of cybercrime

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Chris Coonan, the chief executive of Landmark White, has resigned from his post following the cyber security breach that saw thousands of records posted on the darkweb.
Coonan had spent over 14 years at the embattled property services company, who have <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">lost a string of major clients</a> including CBA, NAB and ANZ since a dataset containing property valuation and personal contact information <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">stolen last month</a>.
He was named CEO in 2016, having previously been the national director for residential valuations.
Landmark White have been under fire from all angles since the dataset was <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">listed on the dark web</a> in February.
"We can now share that on 30 December 2018, we received a message through the 'Live Chat' messaging service on our website, providing us with a link to the dark web," the company advised at the time.
"An unknown criminal has maliciously accessed a LandMark White’s system."
"We do not know the identity of the individual," it added.
Its investigations reveal that the dataset contained:
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<li>approximately 137,500 unique valuation records, and approximately 1,680 supporting documents.</li>
<li>approximately 250,000 individual records in total but a lot of records are duplicates.</li>
<li>The date of the documents range between approximately 4 January 2011 and 20 January 2019. </li>
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The board has also announced that co-founder of LMW, Glen White, and Frank Hardiman will stand down as a Non-Executive Directors of the company.
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Glen established the Queensland practice that became Landmark White in 1982 and served as a Non-Executive Chairman between December 2015 and May 2018.
Frank was the Chief Financial Officer and Company Secretary of LMW between 2011 and 2016, before being appointed a Non-Executive Director of the company.
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The board acknowledged Chris’ tireless efforts in his role, but agreed that the changing nature of the business and market conditions – combined with major reputational challenges caused by the recent cyber-attack – had changed the requirements for the executive leadership of LMW.
In the interim, it announced the appointment of Timothy Rabbitt as Acting Chief Executive Officer of LMW.
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In October 2018, LMW announced a merger with Taylor Byrne to further cement LMW's position as the largest, locally owned ASX-listed valuation property services business.
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Founded in 1982 and listed on the Australian Stock Exchange in 2003, LMW has over 400 staff.
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jrobinson-rf4aSBido9

Landmark White chief Chris Coonan quits following dark web data security breach

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Westpac has confirmed it had joined Australia's three other major banks in not sending any further valuation work to LandMark White.
<p data-gtm-vis-first-on-screen-6236702_632="1550610401672" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-recent-on-screen-6236702_632="1550610405836" data-gtm-vis-has-fired-6236702_632="1">"Our immediate priority is to contact customers who may have been impacted," a Westpac spokesperson said.
"We are aware of a personal data leak involving LandMark White, a contracted service provider which conducts property valuations on our behalf," a Westpac spokesperson said.
It came a week after the other big banks pulled their requirement for LMW valuations on property for mortgage applications.
Independent LandMark White holds around 20 per cent share of the residential market with a further eight major property valuers, most of which are subsidiaries of large real estate agencies.
LandmarkWhite has also again suspended its shares from trading on the stockmarket, in the wake of stolen valuation records being posted on a dark-web forum for 10 days.
It suggests <a href="/news/landmark-white-blames-ill-informed-public-commentary-on-its-dark-web-data-breach-for-further-asx-share-suspension">the trading halt could be for as long as a month</a>.
The company advised shareholders that LMW had lost work from a significant number of clients which was "impacting our revenues, profitability and cashflows."
Only yesterday it indicated the valuation clients were likely to return.
"At this point in time we are unable to ascertain when these clients will reinstate LMW and hence when LMW will be in a position to assess with any certainty the financial impact of the incident," LMW updated the market at lunchtime Tuesday.
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"In addition, LMW anticipates that continued public commentary does not allow for an informed market for trading in LMW securities."
LMW expects that it would be able to provide the market with accurate information relating to the financial impact of the incident and hence a forecast for FY2019 within the next two to four weeks and lift the suspension at that time.
Last week Landmark White advised its investigations revealed that an unknown third party posted an <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">illegally downloaded valuation dataset on a dark web forum </a>for 10 days in late January 2019.
It <a href="/news/landmark-white-enters-trading-halt-after-banks-suspend-its-use">sought the suspension of its ASX-listed shares</a> after some of the big four banks indicated they had <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">stopped using LMW valuations</a>.
Westpac Group said it "takes the protection of personal information and privacy extremely seriously."
"We are investigating this matter and it is our immediate priority to contact and support any Westpac, St.George, Bank of Melbourne, BankSA or RAMS customers who may be affected.  
"At this stage, we believe only a small number of individuals are potentially impacted.
"The data disclosed includes property valuation details and some contact details (such as names, addresses and email addresses) of the various parties involved in the property valuation process.
"No loan application details, such as financial and identification documents, were disclosed.
"While we investigate the matter, we have also suspended sending any further work to LandMark White," Westpac told its customers.
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Westpac stops sending property valuation work to LandMark White after data breach

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LandmarkWhite has again suspended its shares from trading on the stockmarket, in the wake of stolen valuation records being posted on a dark-web forum for 10 days.
It suggests the trading halt could be for as long as a month.
The company advised shareholders that LMW had lost work from a significant number of clients which was "impacting our revenues, profitability and cashflows."
<a href="/news/westpac-stops-sending-property-valuation-work-to-landmark-white-after-data-breach">Westpac confirmed</a> it had joined Australia's three other major banks in not sending any further valuation work to LandMark White.
Only yesterday it indicated the valuation clients were likely to return.
"At this point in time we are unable to ascertain when these clients will reinstate LMW and hence when LMW will be in a position to assess with any certainty the financial impact of the incident," LMW updated the market at lunchtime Tuesday.
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"In addition, LMW anticipates that continued public commentary does not allow for an informed market for trading in LMW securities."
LMW expects that it would be able to provide the market with accurate information relating to the financial impact of the incident and hence a forecast for FY2019 within the next two to four weeks and lift the suspension at that time.
The clients  that pulled their business in the wake of a data breach included three of the big four banks.
On Monday the shares in the property valuation firm fell 10 percent to 38 cents after it resumed trading after its major data breach.
It was trading at 45 cents prior to its initial advisory of a privacy breach.
Last week Landmark White advised its investigations revealed that an unknown third party posted an <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">illegally downloaded valuation dataset on a dark web forum </a>for 10 days in late January 2019.
It <a href="/news/landmark-white-enters-trading-halt-after-banks-suspend-its-use">sought the suspension of its ASX-listed shares</a> after some of the big four banks indicated they had <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">stopped using LMW valuations</a>.
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"We anticipate that the suspensions will be progressively lifted over the coming days and that workflows will return to more normal levels by the end of the month," it told shareholders on Monday.
"An unknown criminal has maliciously accessed a LandMark White’s system," it advised.
"LMW has been working with independent cyber security consultants, along with the Australian Cyber Security Centre and the Office of the Australian Information Commissioner, to ensure client information and LMW’s network is secure.
LMW has not obtained any evidence that the data has been misused.
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jchancellor-FAypfDUnLy

LandMark White blames ill-informed public commentary on its dark web data breach for further ASX share suspension

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The shares in the property valuation firm Landmark White fell 10 percent to 38 cents after it resumed trading after a major data breach.
It was trading at 45 cents prior to its initial advisory of a privacy breach.
Last week Landmark White advised its investigations revealed that an unknown third party posted an <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">illegally downloaded valuation dataset on a dark web forum </a>for 10 days in late January 2019.
It <a href="/news/landmark-white-enters-trading-halt-after-banks-suspend-its-use">sought the suspension of its ASX-listed shares</a> after some of the big four banks indicated they had <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">stopped using LMW valuations</a>.
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"We anticipate that the suspensions will be progressively lifted over the coming days and that workflows will return to more normal levels by the end of the month," it told shareholders today.
"An unknown criminal has maliciously accessed a LandMark White’s system," it advised.
"LMW has been working with independent cyber security consultants, along with the Australian Cyber Security Centre and the Office of the Australian Information Commissioner, to ensure client information and LMW’s network is secure.
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"Having assessed the severity of the incident and confirming that the personal information disclosed is relatively benign, the breach was isolated and has been closed. LMW continues to work with the affected corporate partners to lift suspensions, recover work flows and return to business as usual. LMW has not obtained any evidence that the data has been misused."
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LandMark White shares fall 10 percent after dark web data revelation

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Landmark White has advised its investigations reveal that an unknown third party posted an illegally downloaded valuation dataset on a dark web forum for 10 days in late January 2019.
Its advisory came a day after it <a href="/news/landmark-white-enters-trading-halt-after-banks-suspend-its-use">sought the suspension of its ASX-listed shares</a> after some of the big four banks indicated they had <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">stopped using LMW valuations</a>.
"An unknown criminal has maliciously accessed a LandMark White’s system," it advised.
"We do not know the identity of the individual," it added.
Its investigations reveal that the dataset contained:
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<li>approximately 137,500 unique valuation records, and approximately 1,680 supporting documents.</li>
<li>approximately 250,000 individual records in total but a lot of records are duplicates.</li>
<li>The date of the documents range between approximately 4 January 2011 and 20 January 2019.</li>
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"We can now share that on 30 December 2018, we received a message through the 'Live Chat' messaging service on our website, providing us with a link to the dark web. 
"As part of our standard operating procedure, we investigated this and as we could not access the dark web link provided, at that time this was discounted as spam."
On 10 January 2019, the LMW team received an email from the Australian Cyber Security Centre alerting LMW to a vulnerability. 
The <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">breached valuation data</a> has since been taken offline as at 10 February 2019.
"We do not know how many people accessed the dataset throughout the approximately 10 days that it was available on the dark web."
The dark web details are advised in its incident update as at 15 February recommending that all potentially impacted individuals remain vigilant against a potential risk of receiving phishing and other spam communications from organisations purporting to be LandMark White or one of our lending clients.
"Although LandMark White is one of the victims of this cybercrime, we take responsibility for this incident and deeply and sincerely regret that this incident has occurred," the company advised.
"We remain committed to achieving the best possible outcome for all parties that may be impacted, and we are focused on supporting our partners and their customers in the wake of this incident."
LMW is an Australian property valuation and consultancy firm which was founded in 1982 and listed on the Australian Stock Exchange in 2003, employing 450 staff across Australia.
On 23 January 2019, LMW closed off a security vulnerability identified in one of its valuation platforms.
"We have engaged leading privacy, digital forensic and cyber security consultants who have confirmed that the data disclosure relates to the vulnerability which had been secured. We can confirm that the disclosed dataset does not include loan application, date of birth, or other sensitive information."
The dataset contained property valuation and some personal contact information of borrowers, lenders, homeowners, residents, and property agents. 
There was also a small subset of supporting documents relevant to the valuation assessment contained in the dataset, such as contracts for the sale of land, council rates, and strata reports.
There was no evidence of misuse of any personal information, although LMW advise it will continue to closely monitor for this together with industry partners. 
LMW confirmed that no loan application details, including financial and identity documents, are contained within the dataset.
"We can also confirm that no date of birth records, personal bank account details, payment or credit card details, username and password or other credentials, or other sensitive information exists in the dataset.
Independent security consultants have confirmed that the data was accessed via an exposed programming interface on one of LMW's valuation platforms.
"We had already taken steps in January 2019 to block direct access to this interface to prevent any ongoing data disclosure, and it is no longer directly accessible from the internet."
LandMark White advised it was adopting a "very cautionary position" and assuming that a subset of its valuation requests received by LandMark White during the period 4 January 2011 and 23 January 2019 may potentially be at risk. 
 
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Landmark White valuation data available on dark web forum after data breach

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LandMark White have entered a trading halt following the suspended use of its services from some of Australia's major banks.
NAB joined Commonwealth Bank and ANZ in <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">suspended the services</a> of the listed valuation company following a data breach.
Shares halted at ¢42, their lowest value since early 2014 when they sat at ¢41.
In 2017 they peaked at ¢75.
Up to 100,000 customers had personal information, including property valuations, phone numbers and dates of birth leaked as part <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">data breach at LandMark White</a>, according to Nine Entertainment.
"We are not in a position to say how many individuals are likely at risk as a result of the incident at this point although this remains under close review," LMW advised yesterday.
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Founded in 1982 and listed on the Australian Stock Exchange in 2003, LMW has a long and proud heritage of providing independent professional property services to people and companies across Australia.
LMW has over 400 property professionals across 40 plus locations Australia wide.
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LandMark White enters trading halt after banks suspend its use

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The fallout from a data breach at the listed valuation company LandMark White has seen National Australia Bank suspending its use of the firm, joining Commonwealth Bank and ANZ.
"We are not in a position to say how many individuals are likely at risk as a result of the incident at this point although this remains under close review," LMW advised yesterday.
Up to 100,000 customers, according to Nine Entertainment, had personal information including property valuations, phone numbers and dates of birth leaked as part of the <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">data breach at LandMark White</a>.
ANZ’s chief data officer, Emma Gray, said it involved a very small percentage of its customers who had valuations undertaken between November 2015 and December 2018 who are potentially impacted.
“As a result of this incident ANZ has currently suspended use of the services of the valuation provider at the centre of the investigations."
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LandMark White's share price is down slightly from 44 cents to 42 cents since the ASX listed company revealed the breach.
<p data-gtm-vis-recent-on-screen-6236702_632="1550088100368" data-gtm-vis-first-on-screen-6236702_632="1550088100368" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">LandMark White is one of the biggest valuation firms used by banks and lenders for assessing mortgage applications. 
LMW chairman Keith Perrett said the group had been communicating constantly with its business partners in the face of a complex attack on the business.
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<div>''We are very pleased to hear from our external advisors that the breach was isolated to a single system, that the source of the disclosure had been closed, and that there is no ongoing suspicious activity across our network,'' Mr Perrett.</div>
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<p data-gtm-vis-recent-on-screen-6236702_632="1550088123437" data-gtm-vis-first-on-screen-6236702_632="1550088123437" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1"><a href="/news/what-are-landmark-white-doing-about-property-valuations-data-breach">LandMark White have been working</a> closely with the relevant government agencies, including the Australian Cyber Security Centre and the Office of the Australian Information Commissioner.
<p data-gtm-vis-recent-on-screen-6236702_632="1550088123437" data-gtm-vis-first-on-screen-6236702_632="1550088123437" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">Before the breach, the group issued a 25 per cent downgrade in its profits for the first half to December 31, 2018, in late January, saying it had experienced a significant reduction in valuation instructions from the first-tier lenders.
<p data-gtm-vis-recent-on-screen-6236702_632="1550088123437" data-gtm-vis-first-on-screen-6236702_632="1550088123437" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">It was February 5 when LandMark White Limited became aware that a dataset containing property valuation and personal contact information had been disclosed.
"We take the privacy and security of our data very seriously, and we are working closely with cyber security consultants to investigate the circumstances of the disclosure of the dataset," LMW told the ASX.
LMW became aware through one if its corporate partners, CoreLogic.
"We have taken immediate steps to secure what we believe to be the source of the disclosure to prevent any further disclosure of data.
"Currently there is no evidence of misuse of any information although this remains under close review."
Property valuer LandMark White Limited has blamed an exposed API for the leak of a dataset that included property valuation details and contact information of a range of individuals held by the company.
The security vulnerability responsible for the breach — “an exposed programming interface on one of our valuation platforms” — was closed on 23 January, according to the company.
“At that point, we were not aware that there had been any data disclosure,” an update released today for people affected by the breach states.
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<div id="gpt-ad-interscroller-5935221" class="gpt-ad" data-gpt-ad-unit-path="/8456/IDG.AU_B2B_ComputerWorld.com.au/security_section" data-gpt-size-mapping="[[[0, 0], [[3, 3]]]]" data-gpt-sizes="[[3, 3]]" data-gpt-targeting='{"node": ["657662"], "idgau_tax": ["news"], "country": ["AU"], "site": ["cw"], "kw": ["data", "cyber+security", "data+breach"], "sect": ["security"], "idgau_search_referrer": ["no"], "type": ["article"]}' data-google-query-id="CJjZirDFueACFYQPKwod2vcO-w">“Having since become aware of the disclosure on 4 February 2019, we have worked to confirm that the data disclosure relates to the vulnerability which had been previously secured.”</div>
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Founded in 1982 and listed on the Australian Stock Exchange in 2003, LMW has a long and proud heritage of providing independent professional property services to people and companies across Australia.
LMW has over 400 property professionals across 40 plus locations Australia wide.
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