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

Terrigal

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Mat Steinwede, the three time winner of the McGrath agent of the year award, has subsequently revealed that being number one in the network didn't mean much to him.
"For the first time, it's quite meaningless to me, and I don't quite know why" Steinwede said during his <a href="https://www.youtube.com/watch?v=W-rPZ-0fRpM" target="_blank">podcast</a>, adding that "in the beginning I liked to be number 1, but... when you get there, there's not much there."
He expressed that what drove him was the purpose of doing a great job, and being number one became a side effect. It was in a podcast with Geoff Jowett the high performance mindset coach.
"It's sort of like what's going to drive me now," Steinwede said.
The father of six said that it was important to remain grounded and that his family, friends and leisure time were just as important to be balanced and effective.
During the podcast Mat agreed, you've gotta strive coming from love, not fear and that you have to be grateful for every opportunity. 
He emotionally expressed his gratitude during the 2017 McGrath Award presentation when he was announced as the agency's top performer.
"25 years ago I sent a video tape to John McGrath asking if he would meet with me" and that two weeks later when McGrath called me back.
"That meeting changed my life," he said in 2017.
<img src="https://www.urban.com.au/images/2019/7/30/McGrath%20Awards%20Night%202019.JPG" alt="">
Steinwede describes his goals and challenges when he began with a passion.
"I remember when I first joined Mcgrath, I saw the top ten agents on a slide, and I got a copy of that slide and put myself as number one in my vision book. Not for any reason, I just wanted to achieve that." 
He says he faced innumerable hardships "bumps" on his road to becoming number one but his "goal was bigger than the challenges."
Despite being based in Terrigal on the NSW Central Coast, he has remarkably consistently outperformed agents across the McGrath Network, including the pricier Sydney eastern suburbs and lower north shore.
"Its not an easy thing to do, especially in a place like Terrigal.
"It's like being in a country town basket ball team and beating Michael Jordan in a way," he added jovially.
As a follower of Esther Hicks, he is a big proponent of '<a href="https://www.youtube.com/watch?v=jaNCrB2rMH8" target="_blank">The Law of Attraction</a>'.
"If you can continually make sure you are on the upscale, passionate happy etc, your life has to go on the upside."
"You are the one in control of what comes to you, the world matches what you put out."
"You have the absolute ability to put out the right energy and have it come back to you," he firmly stated.
John McGrath himself speaks highly of Mat, "He's the real deal." 
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j.ballantyne1990-6AQqhLzZaK

Why Mat Steinwede says coming first at McGrath was meaningless to him 

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Terrigal had the biggest median price decline in all New South Wales localities, according to a recent Investar report.
The property investment advisory firm says that both Terrigal's median townhouse price and median house price decreased by over 38% in the past five years.
This was followed by Tuncurry with a near 32% decline. 
<a href="https://www.propertyobserver.com.au/images/2019/1/24/nsw%20investar.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/24/nsw%20investar.jpg" alt="">
The cheapest Terrigal offerings are typically bungalows in its bungalow village.
A two bedroom offering in the Terrigal Bungalow Village has been recently sold for $200,000 (pictured below).
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-129153682" target="_blank">109/474 Terrigal Drive</a>, the house comes with two spacious bedrooms, large living areas, sunny front veranda, and the original kitchen in immaculate condition.
The bus stop is at the park entrance on Mobbs Road. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/24/terrigal%201.jpg" alt="">
Another two bedroom house was sold for $170,000 in the last year (pictured below).
The house at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-127662306" target="_blank">69/474 Terrigal Drive, Terrigal </a>features two bedrooms, office or third bedroom, self-contained laundry and north facing backyard.
It's just minutes from Erina Fair, Medical Centre's and Terrigal beach.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/24/terrigal%202.jpg" alt="">
 
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Terrigal sees biggest median price decline in NSW: Investar

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A 1940s Terrigal offering on the NSW Central Coast which was withdrawn from weekend auction.
There were $4 million plus hopes for the five bedroom home.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/30/14b139a99bea478a91717c24b684a2e0.jpg" alt="">
It is on a 1682 square metres lot and was offered for the first time in 47 years.
Built from New England hardwood, the property at <a href="https://www.realestate.com.au/property-house-nsw-terrigal-129483674" target="_blank">14-16 Scenic Highway</a> was listed by Central Coast Realty agent Stuart Gan.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/30/866cd91ba9064cccbd1071c77b391c68.jpg" alt="">
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1940s Terrigal home with sea views pulled from weekend auction

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A Terrigal restaurant and apartment has been sold for $3.35 million to a Sydney-based investor.
Savills Australia’s Aaron McLean brokered the deal on behalf of the locally based vendor, achieving a rate of $5,135.85 per sqm and an initial yield of 5.15 per cent.
Located at 10 Kurrawyba Avenue Mr Mclean said “we received 66 direct enquiries for this campaign, with a total of nine offers submitted.”
“The buyer’s family regularly visits Terrigal as their favourite ‘Sydney getaway’ destination so they will use the four-bedroom apartment for family holidays, while holding on to the renowned Le Chat Noir restaurant as the retail tenant,” he said.
Last sold in 2001 the property went for $727,500 making this latest sale a 9.4% year on year increase in price.
Set on a 651 sqm block the property has a fully leased rental potential of $173,198pa net.
Situated 100m to Terrigal Beach, restaurants, cars and cafes the building holds a corner position with 58m of frontage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/21/Terrigal%202.jpg" alt="">
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Savills sells Terrigal restaurant and apartment for $3.35 million

Parramatta Eels legend Peter &#39;Sterlo&#39; Sterling and his wife Selina appear set to downsize to Terrigal having sold their longtime Central Coast acreage.

They are tipped as buying a two level $1 million townhouse overlooking bushland in a gated community of 59 townhouses with extensive use of stone and timber along with a resort style pool with BQQ amenities.

It is three bedrooms and two bathrooms.

[smartcode_project:default project_id=9187 project_image_fid=164850]

Sterling, who has had ongoing NRL commentary commitments with Channel 9, has been at the home on the Central Coast since the mid-1990s.

It was in 1997 when two lots totalling over three hectares were bought for $495,000.

There&#39;s been no price disclosure, but buyers were being asked for offers between $3 million and $3.3 million.

Surrounded by tropical gardens, the home has four bedrooms, a media room and an office space.

A verandah wraps around the home, while the master suite, complete with walk-in wardrobe and ensuite, has its own private decking.

An infinity pool, entertainment area with built-in barbecue and outdoor kitchen, as well as a number of horse paddocks, sit in the grounds.&nbsp;

Sterling was introduced to the Central Coast by good mate Paul Taylor, having played together in Parramatta&#39;s first rugby league premiership side in 1981.

Taylor then played and coached for The Entrance in the twilight years of his league career before shifting to Queensland.&nbsp;

The couple first spent a year on a property in neighbouring Holgate, all the time looking for a special piece of the Central Coast they could call home.&nbsp;

&quot;Selina and I drove around all over the place,&quot; Sterling recalled in a 2002 profile which added that his dad and sister were at nearby Killarney Vale.

Sterlo owned for a few years in Collaroy until 1997 and before that had been at Castle Hill.

&quot;When we came into Matcham I said &#39;I&#39;d really like to live here one day.&quot;

Just 12 months later he was - on eight-and-a-half acres of private, rolling hillside with enough room for the horses and an environment perfect for raising children.

&quot;I look out there now and I see the value in what we&#39;ve done,&quot; he said long before it was worth its current $3 million plus.

&quot;Life doesn&#39;t get much better than this,&quot; he once said.

&quot;A lot of people think that I spend most of my time away from home with my television commitments and so on, but that&#39;s not true,&nbsp;I spend most of my time here.

He said he and Selina are real home bodies.

&quot;We&#39;re not real beach people, although we do get down to Wamberal a fair bit during summer.&quot;

Sterlo, one of the all-time great halfbacks, was a major influence in the Eels dominance in the 1980s.

He played 227 games for the Eels, winning four Premierships.

He represented The Blues in the State of Origin 13 times and was inducted into the ARL Hall of Fame in 2006.

Sterlo started his commentary career with Western Sydney radio station 2WS and Channel 10, before moving to the Nine Network.

He later went on to host The Sunday Footy Show, anchoring the program from the show&#39;s inception in 1993 until the end of the 2015 season when Yvonne Sampson took the reins.

He was co-host of Nine&#39;s The NRL Footy Show for 12 years alongside Paul Vautin and currently hosts&nbsp; Nine&#39;s Thursday Night Football&nbsp;and&nbsp;On the Couch with Sterlo.&nbsp;

This article first appeared in&nbsp;The Sunday Telegraph.&nbsp;

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Peter 'Sterlo' Sterling looking to downsize to Terrigal 

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Terrigal recorded the highest housing median price decline over the past five years in New South Wales, according to Investar’s latest report.
The property investment firm says that over this time period, the median price in Terrigal has declined by 47 percent.
This is followed by nearby beach location, Avoca Beach with 37 percent and then Aberdeen with 21 percent.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="84">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="63">
Bedrooms
</td>
<td valign="top" width="113">
Current median price
</td>
<td valign="top" width="87">
5 year decline
</td>
</tr>
<tr>
<td valign="top" width="84">
Terrigal
</td>
<td valign="top" width="64">
2260
</td>
<td valign="top" width="63">
2
</td>
<td valign="top" width="113">
$215,000
</td>
<td valign="top" width="87">
47%
</td>
</tr>
<tr>
<td valign="top" width="84">
Avoca Beach
</td>
<td valign="top" width="64">
2251
</td>
<td valign="top" width="63">
2
</td>
<td valign="top" width="113">
$299,000
</td>
<td valign="top" width="87">
37%
</td>
</tr>
<tr>
<td valign="top" width="84">
Aberdeen
</td>
<td valign="top" width="64">
2336
</td>
<td valign="top" width="63">
3
</td>
<td valign="top" width="113">
$235,000
</td>
<td valign="top" width="87">
21%
</td>
</tr>
<tr>
<td valign="top" width="84">
Singleton
</td>
<td valign="top" width="64">
2330
</td>
<td valign="top" width="63">
5
</td>
<td valign="top" width="113">
$520,000
</td>
<td valign="top" width="87">
20%
</td>
</tr>
<tr>
<td valign="top" width="84">
Queanbeyan
</td>
<td valign="top" width="64">
2620
</td>
<td valign="top" width="63">
2
</td>
<td valign="top" width="113">
$309,000
</td>
<td valign="top" width="87">
15%
</td>
</tr>
</tbody></table>
A two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-terrigal-123972286" target="_blank">21/2-10 Duffys Road</a>, Terrigal (above) has been listed for sale.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-terrigal-125335058" target="_blank">64/474 Terrigal Drive</a>, Terrigal (below) has been listed for between $180,000 to $190,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/28/64_474%20Terrigal%20Drive.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-124596542" target="_blank">Site 9/474 Terrigal Drive</a>, Terrigal (below) was sold in February this year for $142,500.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/28/Site%209_474%20Terrigal%20Drive.jpg" alt="">
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-123869034" target="_blank">46/2-10 Duffys Road</a>, Terrigal (below) was sold in February this year for $130,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/28/46_2-10%20Duffys%20Road.jpg" alt="">
</body></html>

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