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

Property News

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Australia can expect a shortage of residential property for the next two decades as developers face barriers to lifting supply, according to AV Jennings managing director Peter Summers.
Population growth and increasing demand for housing, coupled with years of under-building have lead to shortages of new residential property, but government land release policies made it difficult for developers to catch up and meet demand increases, Summers said.
“It’s something that I think Australia will be struggling with for 10 or 20 years,” he said in a teleconference discussing the company’s full year result last week.
Low interest rates, low inflation and improving sentiment were adding to demand from consumers.
“In residential, consumer confidence is as high as it has been for many years. There’s a willingness to transact and engagement is as high as we’ve seen,” Summers said. 
He was not concerned about the prospect of interest rates rises, which are forecast by many economists for next year.
“The main driver in this market has been consumer confidence and that’s about job security,” he said.
Consumer anxiety was down even though unemployment had risen, he said.
Forward indicators such as investor and first home buyer demand had also improved. First home buyers accounted for 13.2% of new housing loans in June, up from 12.6% in May, Australian Bureau of Statistics figures show.
Housing affordability was still a concern for many buyers but this was moderated by limited price growth on the urban fringes of capital cities and government incentives, Summers said.
AV Jennings plans to focus on affordable housing by maximising land utilisation at its project sites.
The group, which concentrates on building low-rise homes and town houses, plans to move more into medium rise apartments, although Summers said it was not likely to start building highrise apartments.
AV Jennings announced a profit before tax of $27 million for the 2014 financial year, up from a $23.3 million loss the year before.
It had 1,415 contracts signed over the year to June 30, 2014, up from 819 at the same time in 2013. There were 1,254 settlements in the 2014 financial year, compared with 829 the year before.
The company forecast there would be between 1,500 to 1,700 lot settlements in the 2015 financial year as the number of sites under development had risen dramatically.
Work in progress at 30 June, 2014 was 77% higher than in 2013 and 298% higher than the level two years ago, the company reported.
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Residential shortage to last at least two decades: Developer

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Australia’s million dollar property club hit new heights this year in what can only be described as an explosion in the number of suburbs nationally with a median value in excess of $1 million over the past year.
Sales data to June 2014 confirmed that there are now 417 suburbs nationally which boast a median value of $1 million or more, up from a healthy 312 for this time in 2013.
While Sydney claimed majority market share to make it to the million dollar club with 22 suburbs ranked in the top performing list out of 25, while Perth had two suburbs and Melbourne had just one.
<img src="/images/2014/08/21/rp-data-aug-21-one.png" alt="">
RP Data’s July combined capital city home values index shows that values increased by 10.2% over the 12 months to July 2014. As a result of robust growth, the cost of housing has increased and subsequently, there was a significant increase in the number of suburbs with a median value of $1 million or more.
As at June 2014, there were 397 suburbs nationally with a median house value of $1 million or more and 20 suburbs for units. The 417 total suburbs with a median value of $1 million or more is the highest number over the past five years.  
The number of suburbs with a million dollar price tag for houses increased by 104 over the past year while for units; the number is up by five. New South Wales in particular recorded the most substantial increases in million dollar suburbs over the past year.  
The number of New South Wales suburbs with a median value of $1 million or more is up 42% over the year.  Across the other states, there’s been a 24% rise in Victoria, 25% rise in Queensland, 44% rise in South Australia, 22% rise in Western Australia, no change in the Northern Territory and a -11% fall in the Australian Capital Territory. Tasmania has zero suburbs with a median value of $1 million or more.  
The large rise in the number of suburbs with a median value of $1 million or more in New South Wales is reflective of the strong home value growth in the Sydney over the past year.  
Over the 12 months to July 2014, Sydney home values have increased by 14.8%. Proportionately, Sydney suburbs comprise 61% of all $million plus suburbs nationally followed by Melbourne at 14% and Perth at 12%.
Of most significance from today’s million dollar findings, is the rise in the number of suburbs with a median value of more than $2 million. Last year 37 suburbs had a median value of $2 million or more while in June of this year, the number of suburbs had increased to 42.
Clearly, low mortgage rates are creating a surge in market activity. This encourages people to look to upgrading to bigger homes and in more ideal locations. We’re seeing a large slice of this activity taking place within the higher-end of the housing market and as a result, propelling home values higher and into the million dollar realm.
Looking at the suburbs with the highest national median value, Sydney’s <a href="/news">Point Piper</a> remains as the nation’s most expensive housing market.  As at June 2014, houses in Point Piper had a median value of almost $5.7 million. <a href="/news">Woolwich </a>in Sydney was not far behind with a median value of $5.5 million.
Of the 25 suburbs with the highest median value, all suburbs listed were for houses rather than units.  Twenty two of the 25 suburbs listed were in Sydney with one in Melbourne and two in Perth.  
<img src="/images/2014/08/21/rp-data-aug-21-two.png" alt="">
The results show that higher values, particularly in Sydney is becoming more prevalent.  With mortgage rates low and tipped to remain low we would expect that in 12 months’ time we will have even more suburbs with a median value of $1 million or more.  Although we anticipate the rate of value growth is likely to slow over the coming year, we do expect further increases.
A rise in suburbs with a million dollar plus price tag is great for those who own a home in these areas. For those that don’t, it highlights that these buyers have fewer housing options and continue to be pushed further away from the city centre where most of these homes in excess of $1 million are located. 
Photo courtesy of Wikimedia Commons.
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Australia's top 25 most expensive suburbs: RP Data

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Australia’s richest families are getting richer, according to the annual BRW Rich Families list released today.
The combined wealth of the 50 families on this list grew by $5 billion in the past 12 months, from $35.6 billion to $40.1 billion.
The average wealth of the families on the list also increased, from $712 million in 2013 to $803 million, a rise of 12%.
Melbourne’s Smorgon family, whose fortune lies in property, cosmetics, horticulture and equities, topped the list with wealth of $2.767 billion.
The Smorgons, whose patriarch Victor Smorgon died in 2009 at the age of 96, are followed by the Liberman family, whose investments in tech success story Freelancer and investment fund Square Peg Capital are clearing paying off with the family now sitting on a nest egg of $2.448 billion
Third in line is the Wilson family, whose wealth is now estimated to be worth $2.337 billion.
When it comes to generating wealth, the nation’s richest families have found the most success with investments and property, with the two industries accounting for 28% and 24% of the families’ combined wealth respectively.
However, it appears traditional sources of wealth in Australia —manufacturing and rural holdings—continue to generate returns for the country’s rich, with both sectors each accounting for 10% of the wealth on the list.
While Sydney is the home to 20 Rich Lister families, beating Melbourne’s 15, those who do live in the Victorian capital have a bigger share of the list’s wealth, at 42% compared to Sydney’s 29%.
The 10 richest families in Australia
<ol>
<li>Smorgan: $2.767 billion</li>
<li>Liberman: $2.448 billion</li>
<li>Wilson: $2.337 billion</li>
<li>Besen: $2.287 billion</li>
<li>Buckeridge: $2.1 billion</li>
<li>Myer: $2.047 billion</li>
<li>Roberts: $1.861 billion</li>
<li>Wright: $1.579 billion</li>
<li>Salteri: $1.255 billion</li>
<li>Talbot: $1.18 billion</li>
</ol>
The full list is <a href="https://www.brw.com.au/lists/rich-families/2014/;jsessionid=80C252D4D59524B8580BE4D71D5F820E">available on BRW</a>.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Property and investments the major source of Australia's richest families' wealth

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The website of the newest competitor to online property listing giants realestate.com.au and domain.com.au started operating last week.
Applabs Australia’s <a href="https://www.homeopen.com/" target="_blank">Home Open</a> website was launched last Monday, completing the company’s set of real estate search portals.
The iPhone application version of the real estate search site was launched at the end of May. The iPad version was made available at the end of June and Android version launched in late July.
Real estate agents are also able to 'white label' the site, applying their own branding to system.
“Over the coming months, work will continue on the agent signup process with a particular focus on Western Australia where the greatest adoption has occurred to date,” Applabs managing director Stuart Kidd said in a statement to the Australian Securities Exchange.
“Having a particular focus on an individual state initially will also allow for greater assessment of the effectiveness of any initiatives before they are rolled out Australia wide.”
REA Group’s Realestate.com.au and Fairfax Media's Domain.com.au portals dominate the online property search market nationally, particularly in Sydney and Melbourne.
Fairfax Media’s purchase of the Canberra-based All Homes property portal in July, adds to its share of the eastern market.
Fairfax reported last week that Domain’s online revenue grew by 33% compared with the previous the year.
Revenue in from REA Group’s Australian residential business also grew by 33% in the year ending June 30, 2014, the company reported this month.
Applabs Technologies will now concentrate on the agent registration process for the site and an upcoming consumer launch. Upgrades of the iPhone and iPad versions will be released in the coming weeks.
Patrick Glovac, who <a href="/expert-insights/buying/q-a-will-new-site-home-open-challenge-domain-and-rea">spoke to Property Observer in March about the new venture</a>, was appointed managing director of Applabs Technologies last Thursday to provide additional management resources to the company. Glovac had previously been a non-executive director of the company.
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New property listings website set to challenge industry giants

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Police are conducting controlled explosions at a Brisbane property after a real estate agent discovered a "chemical stockpile" during an inspection.
The recently vacant <a href="/news">Pullenvale</a> property was being inspected by a real estate agent on Wednesday.
In a detached shed on the property, it is understood the agent discovered drug paraphernalia and contacted the police.
Neighbours of the Red Cedar Road property were forcibly kept away as police assessed a the chemicals.
Acting Inspector Mark Bradford told the Courier Mail that there is a concern when chemicals were kept together, but said the ones on the property were widely available.
Here are <a href="/expert-insights/investing/seven-ways-to-detect-if-your-investment-property-is-being-used-as-a-drug-lab">seven ways to detect whether your property is being used as a drug lab</a>.
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Brisbane real estate agent discovers "chemical stockpile" during inspection

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A new app, realAs, claims to be able to predict how much a home will sell for, with a margin of error of just 5%.
The app, which is said to learn as it goes and to become more accurate as people use it, is based on this core algorithm. Consumers are asked to include their views about homes they have seen, and prices are input into the system.
It has some lofty credentials as well, being cofounded by David Morrell, the first buyer’s agent in Australia, who also sits on the board with Andrew Newbold, Jeremy Press and Josh Rowe. It was developed by computer scientists at RMIT University over a three year period and claims to be more accurate than overseas counterparts Trulia and Zillow.
The Melbourne-based company claim that the predictions for 64% of sales are within 5% of the sale price, 89% are within 10% of the sale price and 99% are within 20% of the sale price.
Morrell says that the unique propreitary algorithm listings to buyers and “understands what’s a good property, it understands what’s a bad property and it understands what the property value is”.
In a much publicised claim, it also aims to stamp out underquoting completely, as consumers use the realAs app to determine the price independently of the real estate agent.
“realAs is by buyers, for buyers to research and make the right property purchase decisions. Saving buyers time, money and heartache,” said Rowe.
While they’re not giving any secrets away about the algorithm itself, which he says does prompt a discussion around the level of trust, he does note that it goes beyond past price sales.
“Traditional predictors of property prices usually only take into account what is happening in past sales,” says Rowe, criticising that they do not take into account the individual property’s features or the current listings."
This algorithm uses current market data with specific relevance to the individual property and the features that property has.
Currently in the form of an iPhone app and <a href="https://realas.com/home/%20" target="_blank">responsive website</a>, Morrell believes it will be disruptive for the real estate industry where he says overquoting and underquoting is rife.
He explains that current sellers being told by an agent to take their property to auction and to expect over $2 million may look at the app and realise it’s worth 30% less.
As a knock-on effect, the seller won’t go to auction, there will be less advertising for the real estate agent and, effectively, newspapers also won’t get the spend on real estate advertising, he says.
“For the first time they’re able to see what other buyers are thinking,” Morrell explains.
However, that’s not expected to be the only effect on the market. Rowe says that there is another functionality beyond the price predictions – an open dialogue for sellers and buyers.
Currently, the majority of buyers speak to the seller “through” the real estate agent, Rowe explains. Now, they can speak “directly with sellers about the quality of properties” from quantitative questions to qualitative questions, without a filter.
Property Observer notes that in the majority of cases looked at, for instance in Sydney's west, it appears as though the agents quote and the realAs prediction are quite similar.
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Can this algorithm determine what a “bad” property is?

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Property program Location Location Location Australia will be back on the Lifestyle Channel tonight with its third season.
The reality television show follows hosts Bryce Holdaway and Veronica Morgan as they help families searching for a new home.
Every episode, the intrepid hosts split up to help two different prospective buyers, who each have different requirements for their dream purchase.  Bryce and Veronica travel the country, searching for properties and negotiating purchases.
Location Location Location Australia doesn't focus on one particular type of buyer, but on a range of different house hunters, from first home buyers to downsizers and those moving on from difficult family circumstances. 
Tonight's episode will show Bryce searching for a house for retired Barossa vineyard owners who want to move to Adelaide and find an more modern home. Genevieve and Trevor are moving from a vineyard that's been in the family for more than 100 years, and are being forced to sell due to drought and the financial downturn.
Meanwhile, Vanessa is helping busy Sydney parents Michael and Naomi, who are renting a four storey Woollahra terrace with their young children (and one grumpy french bulldog called Winston). They're hoping to stay in Sydney's eastern suburbs.
The show's third season premieres at 8:30pm on the Lifestyle Channel. 
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Location Location Location Australia returning tonight

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A luxury apartment made it to the top of RP Data's 10 most expensive sales of the week.
The Pyrmont offering (pictured above) with 360 degree views fetched $7 million. However, there were a few other high profile sales that didn't make it onto RP Data's radar this week. There was the Professor Leslie Wilkinson designed Point Piper home of Charles Scarf and his wife Maria, which <a href="/news/30-million-professor-leslie-wilkinson-point-piper-trophy-home-sold-under-scarf-of-secrecy">sold for an unconfirmed price</a> after it was listed with $30 million plus hopes.
The sale of David Airey's <a href="/expert-insights/buying/south-yarra-then-templestowe-top-weekend-melbourne-auctions">South Yarra house for $3.8 million</a> also failed to get a mention, as did a three bedroom Mosman home <a href="/expert-insights/buying/mosman-price-shocker-tops-sydneys-weekend-auctions">which secured $3.23 million</a>. Mooloolaba's pink house was also one of the most expensive sales this week, <a href="/expert-insights/buying/fred-eagers-pink-house-mooloolaba-sells-for-3-8-million">with a $3.8 million price tag</a>.
Here are 10 of the other most expensive sales for the week ending 10 August, from RP Data.
<ol>
<li>
<a href="https://www.propertyobserver.com.au/https://www.feldiproperty.com/6645103" target="_blank">59/56 Pirrama Road, Pyrmont, NSW </a> <img src="/images/2014/08/12/e1.jpg" alt=""> A Pyrmont penthouse topped this week's sales, attracting $7 million dollars when it sold through Feldi Property Agents. The three bedroom, four bathroom apartment has full panoramic views over the harbour, the CBD and Barangaroo. The unit, which is directly accessible via lift, comes with three car spaces and a 17 metre marina berth. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-templestowe-117412491" target="_blank">4 Winifred Court, Templestowe, Vic</a> <img src="/images/2014/08/12/templestowe_0000_1.jpg.jpg" alt=""> The Templestowe home of architect Phillip Mannerheim was sold for $3.35 million through Ray White Manningham. The house was originally listed with a $2.4 million price guide. Mannerheim substantially renovated the property, which now has four bedrooms, five bathrooms and five car spaces. He purchased the home in 2003 for $870,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-mount+eliza-116687087" target="_blank">5 Bay Avenue, Mount Eliza, Vic </a> <img src="/images/2014/08/12/e3.jpg" alt=""> This five bedroom, four bathroom house fetched $3.16 million when sold through Aqua Real Estate Mount Eliza. Set on a 2,619 square metre parcel, the home has panoramic views of Port Phillip Bay and Melbourne's skyline. The house's multiple living spaces include a formal dining room which opens onto an covered balcony on the upper level, and a ground-floor rumpus room with a full wet bar, open fireplace and direct access to the pool. Despite its lofty price, the vendors actually made a loss on the Mount Eliza home's sale - they purchased it for $3.4 million in 2011. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/rent/house-mcmahons-point-nsw-2060/41330" target="_blank">7 McManus Street, McMahons Point, NSW </a> <img src="/images/2014/08/12/e4.jpg" alt=""> McGrath Estate Agents handled the $3.1 million sale of this four bedroom, two bathroom Sydney home. The two storey house with views over Berrys Bay sits on a dual access block. Its master bedroom comes with a en suite with spa and direct courtyard access. The home is currently leased for $1,950 per week, yielding 3.27%. 
</li>
<li>
<a href="https://www.curranproperty.com.au/selling/NSW/Upper-North-Shore/East-Killara/House/1P0115" target="_blank">11 Fairlight Avenue, East Killara, NSW </a> <img src="/images/2014/08/12/e5.jpg" alt=""> A six bedroom, three bathroom house attracted $2.81 million through Curran Property Chatswood this weekend. The listing information states the three level home is "reminiscent of a classically inspired European estate", set over a 1,359 square metre plot. The home was purchased by the vendors 20 years ago for just $515,000 and was renovated by interior designers Hare and Klein in 2001. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.feldiproperty.com/10579533" target="_blank">3/56 Pirrama Road, Pyrmont, NSW </a> <img src="/images/2014/08/12/e6.jpg" alt=""> Another unit in the 56 Pirrama Road complex made it on RP Data's top 10 list this week. The three bedroom, two bathroom apartment at number 3 was picked up for $2.7 million, selling through Feldi Property Agents. It features hardwood floors in the living and kitchen areas, with carpeted bedrooms. Residents have access to the building's lap pool and gym. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-glen+waverley-117383623" target="_blank">21 Barbara Avenue, Glen Waverley, Vic </a> <img src="/images/2014/08/12/e7.jpg" alt=""> This five bedroom, five bathroom house sold for $2.5 million through Ray White Glen Waverley. The two storey home on a 809 square metre block has multiple indoor living spaces, with a tiled outdoor entertaining area. The listing information notes that the house is "metres from Glen Waverley Secondary College". The vendors paid $900,000 for the land and previous house on the block in 2012. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-mosman-117476495" target="_blank">16 Windward Avenue, Mosman, NSW </a> <img src="/images/2014/08/12/e8.jpg" alt=""> A Mosman home also fetched $2.5 million this week, selling through Harcourts Dunne Mosman. The three bedroom, two bathroom dual frontage offering is situated on the high side of Windward Avenue, adjoining to a bush reserve. Set on a 695.6 square metre block, the house features a balcony that runs the length of the house, a sauna, large study, a workshop and a double-lock garage. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-beecroft-117463887" target="_blank">8 Bangalow Avenue, Beecroft, NSW </a> <img src="/images/2014/08/12/e9.jpg" alt=""> Securing $2.4 million, this house sold through McGrath Estate Agents Epping. The former farmhouse has five bedrooms and three bathrooms, with outdoor entertaining areas and an in ground pool. The 1,492 square metre parcel has development approval for a two lot subdivision. The vendors paid $1,375,000 for the home in 2008. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-ivanhoe-117452027" target="_blank">45 Waterdale Road, Ivanhoe, Vic </a> <img src="/images/2014/08/12/e10.jpg" alt=""> This five bedroom, four bathroom contemporary home sold for $2,380,000 through Barry Plant Ivanhoe. The modern house on a 750 square metre plot is decked out with showy details, including double three metre waterfall stone island benchtops, two self-cleaning ovens, motorised drawers in the bedrooms and a 14 jet spa in the master en suite. The home also features a salt chlorinated pool and bluestone paved balconies.</li>
</ol>
Other high ranking sales for the week include 112 Jersey Road, Paddington (NSW), a <a href="https://www.realestate.com.au/property-house-nsw-paddington-117430135" target="_blank">three bedroom home that sold for $2.37 million</a>, and 3 Park Road, St Leonards (NSW), <a href="https://www.realestate.com.au/property-house-nsw-st+leonards-117568991" target="_blank">a 1912 four bedder</a> that fetched $2.35 million.
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Luxury units stand out on most expensive sales of the week: RP Data

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Foreign investors have a role to play in the Australian property market, buying inner city apartments that are needed to accommodate growing populations but shunned by local buyers for their poor investment performance, according to Bill Nikolouzakis, director of real estate advisory firm Nyko Property.
Nikolouzakis said that cultural factors attracted foreign investors to buy inner city apartments as that type of property was viewed as the most desirable investment in Asian cities, such as Jakarta.
“What we have noticed is that most foreign investors want to buy in the CBDs of major cities like Melbourne and Sydney and that’s not that popular with local investors,” Nikolouzakis said.
As populations expand there will be a greater need for residential accommodation in the cities.
Melbourne’s population of 4.35 million at June 2013 is forecast to swell to 7.9 million by 2053, according to Australian Bureau of Statistics projections.
The population has been expanding most rapidly in the inner city areas of Melbourne, which increased by 23%, as well as <a href="/news">Docklands</a> and <a href="/news">Southbank</a>, with 15% population increases, ABS figures show. The population of <a href="/news">Abbotsford </a>in the city’s inner north grew by 20%.
Local investors tend to steer away from inner city apartments, Nikolouzakis said.
“[Inner city apartments] have not been proven to perform. They don’t have the same growth as inner ring suburbs in Melbourne,” he said.
An oversupply of new apartments in Melbourne’s city areas is likely to put pressure on capital values in the short to medium term, Nikolouzakis adds.
“There’s not a lot of money to be made in inner city apartments in the short term. For a 50 year investment strategy that’s a good option but medium term – 10 years – I don’t think they’re going to perform,” he said.
But Nikolouzakis said it’s difficult to convince foreign buyers that properties outside of the main CBDs are good investments. Laws prohibit foreign owners from buying existing properties, which tend to be more popular with local investors.
Nyko Property focuses its research on new Melbourne investment properties, predominantly townhouses and small apartment complexes in suburban Melbourne.
Almost three quarters of its sales in the 2014 financial year were <a href="/guides/financial-services-industry-increasingly-selling-property-smsfs-playing-a-key-role-nyko-property">made are through Australian financial intermediaries such as accountants, financial advisers and mortgage brokers</a>. Its remaining sales were to foreign investors via local and international agents.
The company licensed its business name in Indonesia in March and has given a local agent the right to distribute its properties in Indonesia. It has plans to open offices in Jakarta and Surabaya.
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Foreign buyers are needed to purchase inner city apartments locals think are bad investments: Nyko Property

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When the wearable technology revolution arrived in Australia, it chose Bendigo. More specifically, a Bendigo cafe.
Last week, chief executive of Bendigo Bank subsidiary Community Telco Australia David Joss bought afternoon tea with his Samsung Gear 2 smart watch.
The payment was made through a new Bendigo and Adelaide Bank mobile payment system called 'redy', which has a patent pending. The system, which was launched in June, allows customers to use an app on their compatible smart phone to scan a code displayed on the cashier's Samsung tablet. While doing so, customers earn credits which they can donate to a charity of their choice - what Bendigo Bank head of Customer Lead Connections Andrew Cairns calls "the digital version of dropping some cash into a collection tin".
According to Bendigo Bank's executive customer voice Marnie Baker, the bank believes it's "the first to launch a wearable payments solution that fully completes a transaction".
"We have been able to do this because of the unique way that we have developed the redy payment solution using QR codes at the point of sale.”
At the point of sale, the wearer opens the app on their device (in this case, a watch), the merchant creates a unique QR code for the purchase and the offer is sent to their customer, who scans the code to accept the offer. According to the bank, the transaction is "highly secure" as the merchant never captures any personal information about the buyer.
Chief executive of Bendigo Bank subsidiary Community Telco Australia David Joss, who was the one to make the purchase with his Samsung Gear 2 watch, more and more wearable technologies are expected enter the market.
"Just as mobile phones are becoming more commonplace as payment devices, there is little doubt that wearable technology is the next extension of the customer’s mobility experience," said Joss.
“Although only released for the Samsung Gear 2 at this stage, we will continue to develop for wearable technologies as they continue to enter the market.
“We have an extensive roadmap of developments that will be released through redy over time.”
Bendigo Bank has signed an agreement with Samsung to continue to develop mobile payment processes. Baker said the redy system united the bank's community building initiatives with "cutting edge technology".
"Our bank is built on responding to customer needs and helping its communities to prosper and here we have a device that does both by enabling customers to donate a percentage of the redy transaction fee to the charity or cause of their choosing," said Baker.
"We are leveraging the power of aggregated micro-payments to help communities source new funding streams via a form of crowd funding.
Bendigo also offers a small, mobile EFTPOS device for business called microPay. The pocket sized card reader connects to any available network and allows business owners to make EFTPOS transactions away from their main point of business.
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