A Brisbane apartment project by Henroth Investments&nbsp;is set to be revised.

Henroth, led by the Sydney-based Roth family, are scaling back their West End development at&nbsp;281-297 Montague Road. The site has previously was approved for five towers, before Henroth changed it to two in December.

There will still be nearly 350 apartments across the two towers, the north tower rising 19&nbsp;levels and the south tower 17&nbsp;levels.

The new design involves the creation of a vibrant, public amphitheatre area along the Davies Park side of the site with retail planned surrounding the amphitheatre, as well as a new sculpture park. It also&nbsp;features a curved landscaped exoskeletal sunshade, which has been popular among recent design applications.

<a href="/new-apartments/281-montague-road-west-end"><img alt="" data-entity-type="" data-entity-uuid="" height="1122" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-06-03_at_12.46.34_pm.png" width="1858" /></a>

Long view from Vulture St. Credit: nra-co-lab

Designed by The NRA Collaborative, the north tower will comprise 76 two-bedroom apartments, 95 three-bedroom apartments and 12 four-bedroom apartments and penthouses.

The south tower will consist of 30 one-bedroom apartments, 73 two-bedroom apartments, 43 three-bedroom apartments and 20 four-bedroom apartments and penthouses. &nbsp;&nbsp;

Some 1,606 sqm will be dedicated to retail space, in addition to 3,382 sqm of green public space.

A rooftop recreation area is planned for both towers, complete with infinity pools, gyms, dining space, library or cellar, barbecue areas, all set amongst lush landscaping.

There is also a unique north-east facing landscaped covered outdoor terrace on level one of each tower, with study and work areas, provided to accommodate the working from home movement. In addition, this area contains a selection of enclosed glass pods for residents’ who may wish to engage in private podcasts or online meetings.

<a href="/new-apartments/281-montague-road-west-end"><img alt="" data-entity-type="" data-entity-uuid="" height="1194" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-06-03_at_12.41.51_pm.png" width="1618" /></a> 
Render of the new public plaza. Credit: nra-co-lab

According to The NRA Collaborative, the revised design incorporates a rethink to the open space and ground plane opportunities to the West End community.

“The revised design will deliver a vibrant activated public plaza and subtropical landscaped space for the benefit of the local community,” they said.

The design response will also incorporate outstanding cross-site links in the form of direct pedestrian and cycle connections from Vulture Street, which is one of Brisbane’s major thoroughfares, through to the Brisbane River walkway.

The new public plaza space is integrated with an active retail frontage, which connects Montague Road to the centre of Davies Park, Souths Leagues Club and beyond to the Brisbane River.

Architecturally, as a central feature, each building will focus on incorporating unique large landscaped open-air common access balconies/gardens to every floor.

<a href="/new-apartments/281-montague-road-west-end"><img alt="" data-entity-type="" data-entity-uuid="" height="1190" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-06-03_at_12.46.57_pm.png" width="1404" /></a> 
View east across Davies Park. Credit: nra-co-lab

The open-air landscaped transition zones are designed as an extension of the new park and the green space combining with the open space to generate landscape vistas from within.

Biophilia filters on the ends of the open landscaped corridors provide vertical greenery up the façades in the form as fresh air filters providing natural cross ventilation to the open apartments’ walkways.

The new design involves the creation of a vibrant, public amphitheatre area along the Davies Park side of the site with retail planned surrounding the amphitheatre, as well as a new sculpture park.



alisonwarters@gmail.com

West End, Brisbane apartment towers to get updated design

The popular New South Wales property developer&nbsp;Third.i has launched the last remaining homes in its luxurry Paragon of Pyrmont project.

The $113 million project, which officially wrapped up construction of its 31 residences in 2021, has just two homes remaining.

The final townhouses have three and four-bedrooms and are priced between $3.95 million and $4.5 million.

[smartcode_project:default project_id=5761 project_image_fid=198493]

The project is a rare offering for the suburb, largely dominated by apartment living.

According to the most recent Australian Bureau of Statistics data from 2016, over 92 per cent of available dwellings in Pyrmont consisted of apartments and units with just 6.5 per cent townhouse dwellings available.

The buyers so far in Paragon of Pyrmont have mostly been downsizers and owner-occupiers.

[smartcode_project:default project_id=5761 project_image_fid=198491]

Third.i&nbsp;Co-Founder and Director of Sales and Marketing Luke Berry says the remaining townhouses won&rsquo;t last long in a hungry market.

&ldquo;Paragon of Pyrmont is the epitome of spacious and luxury living in the epicentre of the city of Sydney,&quot; Berry said.

&quot;We are thrilled to see our final two residences hit the market and couldn&rsquo;t be prouder of the calibre we have created with the project in tailoring it to suit all buyer lifestyles.

[smartcode_project:default project_id=5761 project_image_fid=198490]

&ldquo;Buyers will feel the quality and consideration given to the project the minute they walk through the front door. We have combined city living and spacious living to create the ultimate residence in a suburb renowned for apartment and unit offerings.

&ldquo;Buyers are drawn to the uniqueness of townhomes available in Pyrmont and the fact these final residences are complete and ready to move into makes the listings even more desirable.&rdquo;

Each townhouse is kitted out with high-end Gaggenau appliances, a smart home system that can be access remotely, and an entertainment unit with a hydraulic television lift. There&#39;s also private lift access direct from the garage, which is met by a wine room with storage for around 250 bottles.

[smartcode_project:default project_id=5761 project_image_fid=198494]

Crowning each townhouse is a private rooftop terrace, complete with an outdoor kitchen and watering system for green, lush gardens, as well as a sundeck which benefits from city top views.

&ldquo;Paragon of Pyrmont just has it all in terms of spacious living, high-end amenities, access to local shops and transport, all while situated in the heart of Sydney with some of the most famous harbour views the city has to offer,&quot; Berry added.

&quot;This is a project Third.i will forever be proud of and joins our growing list of legacy projects for generations to come.&quot;

[smartcode_project_cta: project_id=5761]

Leading Australian property developer, Third.i has launched the last remaining homes in its luxury $113 million Paragon of Pyrmont project.



Two townhouses remain in Third.i’s Paragon of Pyrmont

Multi-billion-dollar developer Gurner has continued its expansion across the Australian residential market, securing its first South Australian site through a joint venture with Kennards Self Storage, the site&rsquo;s existing landholder.

When complete, the 1.7-hectare site at 237 Grote Street will comprise more than 750 residences with six-star amenity across four towers, a five-star hotel, over 15,000 sqm in retail and commercial space, an entertainment and recreation component and a public plaza, with an estimated end value of $1.25 billion.

With an estimated end value of $1.25 billion, the site will keep inline with the group&#39;s industry-leading Greener by Gurner initiative, making Gurner&#39;s first project in Adelaide carbon-neutral.&nbsp;&nbsp;

[smartcode_project:default project_id=2484 project_image_fid=40832]

It will also become the headquarters of Kennards in South Australia, complete with cutting-edge technological inclusions, retail stores, self-storage units, as well as enterprise and coworking spaces.

Part of the 1.7-hectare site is a 24,000 sqm six-level building originally constructed for Australia Post to sort and distribute mail near the CBD, but as letter volumes reduced, it was finally put on the market. &nbsp;

The strategic partnership between the two groups &ndash; the first of its kind in the self-storage space &ndash; will see Kennards repurpose the former Australia Post building into next-generation storage facility, which will be seamlessly integrated into the master plan.

Gurner CEO, Tim Gurner said the group will bring its vision to life for an iconic mixed-use, residential, self-storage and commercial office super-site across 11,000 sqm of prime development land.

&ldquo;This is an incredible site, and we could not be happier to be partnering with such iconic Australian success stories in Kennards and Sam, to bring a shared vision for the development to life &ndash; we&rsquo;ll be creating something very ambitious, something that hasn&rsquo;t been done before in this sector,&rdquo; he said.

[smartcode_project:default project_id=3530 project_image_fid=21377]

The announcement of the new project is a timely one for Adelaide, which was named the third-most liveable city in the world according to The Economist Intelligence Unit&rsquo;s Global Liveability Index for 2021, as CBD living, luxury property and amenity-rich projects continue to be favoured by owner occupiers and downsizers alike.

&ldquo;The main focus of this city-changing site will be a transformative public realm, that will become a key attraction for Adelaide CBD,&rdquo; Gurner added.

While there is no permit in place on the site, which has three street frontages on Grote Street, Gouger Street and Blenheim Street, Kennards Self Storage CEO, Sam Kennard commented on the current zoning and planning controls, allowing Gurner and Kennards Self Storage to proceed with a transformative mixed-use development.

[smartcode_project:default project_id=5117 project_image_fid=165555]

&ldquo;Originally we had identified an opportunity to re-purpose the existing building into self-storage and planned to subdivide and sell the surplus land, but COVID allowed us the time to take pause and reflect, and we soon realised the site had the potential to become a city-shaping project,&rdquo; Kennard said.

A design competition is currently underway to appoint a lead architect, and the development application is expected to be lodged in late 2022.

The announcement of the new project is a timely one for Adelaide, which was named the third-most liveable city in the world according to The Economist Intelligence Unit’s Global Liveability Index for 2021.



Gurner to develop Adelaide super site into $1.25 billion mixed-use precinct

While housing value growth has slowed, rents continue to rise across Sydney..

Nationally, CoreLogic&rsquo;s Hedonic Rental Index increased 1.0% in May, taking the quarterly rate of growth to 3.0%, up 60 basis points on a year ago.

CoreLogic&rsquo;s Research Director Tim Lawless said unit rents are rising at a faster annual pace than house rents across the combined capital cities (where house rents increased 8.6% compared to 9.1% across units) and the combined regional areas (where house rents rose 10.7%, behind the 11.0% gain in units).

[smartcode_project:default project_id=7020 project_image_fid=25155]

&ldquo;Early in the pandemic rental demand for medium to high density dwellings fell sharply due to a preference shift towards larger homes and a demand shock from closed international borders,&rdquo; Lawless said.

&ldquo;As rental affordability pressures mount, demand for higher density rentals has steadily grown due to the unit sectors&rsquo; relative affordability advantage. More recently, demand has been boosted by international arrivals returning to the rental market.&rdquo;

Amidst rising rents and a general easing in home value growth, yields are recording some upwards momentum, especially in Sydney.

Sydney gross rental yields are up from a record low of 2.42% in December last year to 2.59%, with Lawless saying that despite the upwards trajectory, yields remain remarkably low.

&ldquo;But a recovery back to average levels may be relatively quick if housing values continue to fall while rents maintain this growth trajectory,&rdquo; he added. &nbsp;

[smartcode_project:default project_id=9040 project_image_fid=193449]

Housing markets lost more steam in May as a combination of higher interest rates, rising inventory levels and lower sentiment dampened conditions.

Sydney&rsquo;s unit values hit -0.7 per cent, with the quarter seeing a -1.6 per cent decline.

Although housing values continued to rise across the remaining capitals, the growth was not enough to offset the depreciation in Sydney, which pushed the combined capitals index -0.3% lower over the month.

Sydney has been recording progressively larger monthly value declines since February, after peaking in January, with housing values down -1.5% - although still above pre-COVID levels at 22.7 per cent.

The trend in advertised stock levels helps to explain the weaker conditions across Sydney, with the city&rsquo;s advertised listings 5.1% higher than a year ago and 1.5% above the five-year average.

Nationally, advertised stock levels remain -10.3% below levels seen this time last year and 28.4% below the previous five year average. However, inventory in Sydney is now higher than 12 months ago and against the five-year average.

&ldquo;With stock levels now higher than normal across Australia&rsquo;s two largest cities, buyers are back in the driver&rsquo;s seat,&rdquo; Lawless said.

&ldquo;Higher listings add to tougher selling conditions more broadly. Vendors in Sydney have faced lower auction clearance rates since mid-April and those selling via private treaty are taking longer to sell with higher rates of discounting.&rdquo;

[smartcode_project:default project_id=7642 project_image_fid=197117]

While advertised stock levels provide some insight about the supply side of the market, home sale volumes provide guidance on housing demand.

As interest rates normalise over the next 12 to 18 months, the expectation is most of Australia&rsquo;s capital cities will move into a period of decline brought about by less demand.

Lawless said the trajectory of interest rates will be a key factor in future housing market outcomes. Forecasts for where the cash rate may land are varied. After the Reserve Bank&rsquo;s decision to lift the cash rate by 25 basis points at its May board meeting, the RBA noted: &ldquo;it&#39;s not unreasonable to expect that interest rates would get back to 2.5%.

&rdquo; Financial markets are still betting on a cash rate above 3% before mid-2023, while economic commentators show a broad range in their cash rate forecasts.&rdquo;

With the housing debt to household income ratio at record highs, household balance sheets are likely to be more sensitive to rising interest rates. High inflation could be another factor contributing to softer growth conditions in the housing sector.

A prolonged period of high inflation is likely to lead to lower rates of household saving and may potentially weaken prospective borrower&rsquo;s ability to meet serviceability assessments from lenders.

[smartcode_project:default project_id=7758 project_image_fid=150447]

Consumer sentiment also remains low, with Westpac and the Melbourne Institute&rsquo;s monthly reading falling another 5.6% in May to its lowest level since August 2020. Historically there has been a strong correlation between consumer attitudes and housing market activity.

These factors, together with stretched housing affordability and a more conservative approach from lenders, especially towards borrowers with high debt levels, are likely to contribute towards less housing demand over the medium term.

However, Lawless notes several mitigating factors as well.

&ldquo;Labour markets are tightening, sending the unemployment rate to generational lows and placing additional upwards pressure on wages growth,&rdquo; he said.

[smartcode_project:default project_id=112253 project_image_fid=193233]

&ldquo;As income growth outpaces housing values, the home deposit hurdle will gradually lessen, reducing one of the key barriers to entry for home buyers.&rdquo;

&ldquo;Strong labour market conditions, together with a growing economy will help to contain mortgage arrears and mitigate some risk of a surge in forced sales placing additional downwards pressure on housing values.&rdquo;

Another factor helping to contain distressed listings amidst rising interest rates is that most households are well ahead of their mortgage repayments. In the latest Financial Stability Review, the RBA noted the median repayment buffer for owner occupiers with a variable mortgage rate had grown from 10 months of scheduled repayments at the start of the pandemic to 21 months of scheduled repayments in February 2022.

Even with a two percentage point rise in mortgage rates, the median repayment buffer would reduce to 19 months, which is still substantial. With the median household well ahead on their mortgage repayments, the risk in falling behind on their debt obligations is reduced. Mortgage stress should also be minimised to some extent by mortgage serviceability assessments at the time of the loan origination.

All borrowers have been assessed under a mortgage rate scenario 2.5 percentage points higher than the origination rate, and since October last year, borrowers were being assessed with a buffer of 3 percentage points.

Under these serviceability scenarios, Lawless said it was reasonable to expect borrowers should be able to accommodate higher mortgage repayments costs, although such a rapid rate of inflation could create some challenges for borrowers with thinly stretched budgets.

&ldquo;With the RBA set to steadily raise the cash rate through the rest of the year and into 2023, we are likely to see falls in housing values become more widespread as mortgage rates trend higher,&rdquo; he said.

Sydney apartment market insights: What happened over May

The Brisbane unit market has seen a reduction while values continue to remain positive across the month of May, according to CoreLogic&#39;s Monthly Hedonic Home Value Index.

Values held relatively steady at 1.2 per cent, following on from the 1.4 per cent jump last month and the 1.6 in the month before that. Values are up 7.3 per cent over 2022 already, with the city well in line to outperform the growth seen in 2021.

[smartcode_project:default project_id=109830 project_image_fid=184165]

The median apartment value in Brisbane is now $498,521, a huge increase compared to the start of 2021, where it sat just over $390,000.

Stock levels remain below average across Brisbane, sitting at -38.2 per cent, well below the five-year average. While advertised stock levels provide some insight about the supply side of the market, home sale volumes provide guidance on housing demand.

CoreLogic&rsquo;s Research Director Tim Lawless said the estimate of homes sales nationally over the three months to May is -19.2% below the same period a year ago, but still 12.1% above the five year average.

[smartcode_project:default project_id=27815 project_image_fid=185118]

&nbsp;&ldquo;A combination of higher interest rates, lower rates of household saving and a potentially more cautious lending environment is likely to reduce housing demand further just as total advertised stock levels are likely to continue rising, further empowering buyers by creating increased competition amongst vendors,&rdquo; he added.

Unit rents are rising at a faster annual pace than house rents across the combined capital cities (where house rents increased 8.6% compared to 9.1% across units) and the combined regional areas (where house rents rose 10.7%, behind the 11.0% gain in units).

Brisbane saw an 8.1 per cent annual change in unit rent, sitting just under Melbourne, Sydney and Adelaide.

[smartcode_project:default project_id=13276 project_image_fid=80720]

&ldquo;Early in the pandemic rental demand for medium to high density dwellings fell sharply due to a preference shift towards larger homes and a demand shock from closed international borders,&rdquo; Lawless said.

&ldquo;As rental affordability pressures mount, demand for higher density rentals has steadily grown due to the unit sectors&rsquo; relative affordability advantage. More recently, demand has been boosted by international arrivals returning to the rental market.&rdquo;

Brisbane apartment market insights: What happened over May

Melbourne’s unit value continued to lose steam in May, as a combination of higher interest rates, rising inventory levels and lower sentiment dampened conditions. CoreLogic’s Home Value Index (HVI) showed Melbourne’s unit value hit -0.3 per cent, with all dwellings hitting -0.7 per cent, recording the most significant month-on-month fall for the city.

Melbourne’s median unit value is $629,344, and while the rise continues across the capitals, the growth was not enough to offset the depreciation in Melbourne, which pushed the combined capitals index 0.3% lower over the month.

[smartcode_project:default project_id=1260 project_image_fid=177631]

Melbourne has fallen across four of the past six months in combined dwellings, although still above pre-covid levels. The city experienced a softer growth phase, recording a smaller peak-to-date decline of -0.8 per cent combined, with housing values now 9.8% higher compared to the pre-COVID levels and while unit values show a positive of 0.3 per cent.

CoreLogic’s Research Director Tim Lawless said despite the 0.5% rise in housing values across Australia’s combined regional areas, it was not enough to keep the national index in positive monthly territory, with the national HVI down -0.1% in May, the first monthly decline in the national index since September 2020.

“There’s been significant speculation around the impact of rising interest rates on the property market and last month’s increase to the cash rate is only one factor causing growth in housing prices to slow or reverse,” he said.

“It is important to remember housing market conditions have been weakening over the past year, at least at a macro level.”

Lawless noted the quarterly rate of growth in national dwelling values peaked in May 2021, shortly after a peak in consumer sentiment and a trend towards higher fixed mortgage rates.

[smartcode_project:default project_id=2806 project_image_fid=175415]

“Since then, housing has been getting more unaffordable, households have become increasingly sensitive to higher interest rates as debt levels increased, savings have reduced and lending conditions have tightened,” he said.

“Now we are also seeing high inflation and a higher cost of debt flowing through to less housing demand.”

The trend in advertised stock levels helps to explain the weaker conditions across Melbourne, with inventory across the city now higher than 12 months ago and against the five year average.

Melbourne’s advertised stock levels are up 1.3% on last year and 8.1% above average based on the previous five years.

“With stock levels now higher than normal across one of Australia’s largest cities, buyers are back in the driver’s seat,” Lawless said.

[smartcode_project:default project_id=253 project_image_fid=52822]

“Higher listings add to tougher selling conditions more broadly. Vendors in Melbourne have faced lower auction clearance rates since mid-April and those selling via private treaty are taking longer to sell with higher rates of discounting.”

“A combination of higher interest rates, lower rates of household saving and a potentially more cautious lending environment is likely to reduce housing demand further just as total advertised stock levels are likely to continue rising, further empowering buyers by creating increased competition amongst vendors.”

Unit rents are rising at a faster annual pace than house rents across the combined capital cities (where house rents increased 8.6% compared to 9.1% across units) and the combined regional areas (where house rents rose 10.7%, behind the 11.0% gain in units).

“Early in the pandemic rental demand for medium to high density dwellings fell sharply due to a preference shift towards larger homes and a demand shock from closed international borders,” Lawless said.

“As rental affordability pressures mount, demand for higher density rentals has steadily grown due to the unit sectors’ relative affordability advantage. More recently, demand has been boosted by international arrivals returning to the rental market.”

[smartcode_project:default project_id=3281 project_image_fid=46053]

Amidst rising rents and a general easing in home value growth, yields are recording some upwards momentum, especially in Melbourne.

Melbourne gross rental yields are up from a record low of 2.74 per cent in December last year to 2.86 per cent.

“Despite the upwards trajectory, yields remain remarkably low in both cities, but a recovery back to average levels may be relatively quick if housing values continue to fall while rents maintain this growth trajectory,” Mr Lawless

As interest rates normalise over the next 12 to 18 months, the expectation is most of Australia’s capital cities will move into a period of decline brought about by less demand

With the housing debt to household income ratio at record highs, household balance sheets are likely to be more sensitive to rising interest rates. High inflation could be another factor contributing to softer growth conditions in the housing sector

Consumer sentiment also remains low, with Westpac and the Melbourne Institute’s monthly reading falling another 5.6% in May to its lowest level since August 2020. Historically there has been a strong correlation between consumer attitudes and housing market activity. These factors, together with stretched housing affordability and a more conservative approach from lenders, especially towards borrowers with high debt levels, are likely to contribute towards less housing demand over the medium term.

Another factor helping to contain distressed listings amidst rising interest rates is that most households are well ahead of their mortgage repayments, Lawless added.

Melbourne apartment market insights: What happened over May

The Gold Coast remains the most sought after location in the country. Now more than ever, Architects and Developers are providing a wide variety of residences available. Urban have taken a closer look at 10 Gold Coast apartments&nbsp;we think you May love...

<h2>Emerson Kirra - 100 Musgrave Street, Coolangatta</h2>

Developer: Hirsch &amp; Faigen

[smartcode_project:default project_id=106646 project_image_fid=184787]

Hirsch &amp; Faigen have continued their legacy of pioneering excellence on the Southern Gold Coast with Emerson, a boutique edition of 27 residences at Kirra, designed by Queensland&rsquo;s premier architecture studio,&nbsp;<a aria-label="Rothelowman - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/rothelowman" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/rothelowman$rothelowman">Rothelowman</a>.

Just the second Gold Coast project for Hirsch and Faigen, Emerson Kirra is located parkside at 100 Musgrave Street, looking over the canopy of Norfolk Pines towards an unspoilt Kirra Beach.

[smartcode_project:default project_id=106646 project_image_fid=184785]

Emerson features sophisticated amenities that enrich a social, active and productive lifestyle, including a residents&rsquo; lounge, recreation deck, resort-style pool and sun lounge, while bedrooms feature floor-to-ceiling windows that offer unrivalled views across the ocean and distant Gold Coast skyline.

With a strong run of sales at the start of the year, only four half-floor apartments remain amongst the 27, as well as the $8 million full-floor penthouse, with the build expected to be complete by September 2023.

<h2>Lagoon Main Beach | Sunrise Tower - 11 Cronin Avenue, Main Beach</h2>

Developer: Drew Group

[smartcode_project:default project_id=108747 project_image_fid=190742]

Inspired by the sun-soaked charm of coastal living and fused with timeless elegance, Lagoon provides a collection of residences that mirror Main Beach&rsquo;s landscape and lifestyle.

The Lagoon residences present a range of two and three-bedroom apartments, along with the signature range of sky homes and duel level penthouse suites.&nbsp;

[smartcode_project:default project_id=108747 project_image_fid=190743]

Set in the heart of Main Beach at 11-23 Cronin Avenue, Lagoon comprises two architecturally stunning towers with 248 residences in total.

<a href="/developers/drew-group" target="_blank">Drew Group</a>&nbsp;appointed&nbsp;<a aria-label="Plus Architecture - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/plus-architecture" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/plus-architecture$plusarchitecture">Plus Architecture</a>&nbsp;to design the development with sustainability, environmental, infrastructure and urban renewal at the forefront of their brief resulting in a well crafted design that answers the needs of modern apartment living.

<h2>Mirador, Chevron Island - 8 Mawarra Street, Surfers Paradise</h2>

Developer: Citimark Properties

[smartcode_project:default project_id=107520 project_image_fid=183044]

Landing in the budding suburb of Chevron Island, Citimark Properties&rsquo;s Mirador presents a unique blend of built form and nature.

Designed by&nbsp;<a aria-label="Cottee Parker - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/cottee-parker-architects" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/cottee-parker-architects$cotteeparker">Cottee Parker</a>&nbsp;to suit the coastal identity of&nbsp;<a aria-label="Chevron Island - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/developments/chevron-island-qld-4217" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/developments/chevron-island-qld$chevronisland">Chevron Island</a>, Mirador offers a range of two, three and four-bedroom apartments, with Terrace apartments beginning on the podium level, and Sky Homes from the 17th&nbsp;floor and beyond.

After the group cut apartment numbers from 164 to just 71, the development progressed into a high-end offering, featuring large, spacious floorplans that capture the impressive surrounding vistas.

[smartcode_project:default project_id=107520 project_image_fid=183047]

The built form of Mirador incorporates a refined material palette including its white fa&ccedil;ade, bronze metal features and natural stone elements.

Extensive landscaping is also a key design feature, with cascading greenery softening the built form whilst providing a lush subtropical backdrop to the residential recreational spaces including the pool, gym, wellness and barbecue areas.

<h2>Nina, Chevron Island - 8-10 Parneno Street, Surfers Paradise</h2>

Developer:&nbsp;Aecore

[smartcode_project:default project_id=108640 project_image_fid=186291]

Nina, developed by Aecore, formerly Macquarie York, is the group&rsquo;s third in three years on the Gold Coast, having already launched the successful Allure, just down the road.

The $90 million Nina rises at 8-10 Parneno Street, comprising 78 apartments over 23 storeys, including a selection of six premium skyhomes and two multi-level penthouses that offer views east to the Pacific Ocean and west to the Gold Coast Hinterland.

[smartcode_project:default project_id=108640 project_image_fid=186300]

<a aria-label="Plus Architecture - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/plus-architecture" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/plus-architecture$plusarchitecture">Plus Architecture</a>&nbsp;were engaged to deliver the tower&rsquo;s distinctive curvature and detailing, as well as creating the six exclusive skyhomes, which will offer 233 sqm of living space, complete with&nbsp;three-bedrooms, a media room and four-bathrooms, as well as two expansive balconies.

Topping Nina are two double-storey penthouses, offering even more living space, as well as their own private terrace and plunge pool.

<h2>Pacific One - Corner of Frederick Street &amp; Garfield Terrace, Surfers Paradise</h2>

Developer: Central Equity

[smartcode_project:default project_id=108274 project_image_fid=190259]

<a href="/developers/central-equity" target="_blank" title="https://www.urban.com.au/developers/central-equity">Central Equity</a>&nbsp;feel like they&#39;ve nailed&nbsp;the&nbsp;brief of their&nbsp;buyers wants and needs&nbsp;at their first Gold Coast apartment tower, Pacific One.

When planning the development, which has evolved over the years, the prominent Melbourne developer&nbsp;expected the majority of buyers to be interested in two things; the extensive resident amenity, and the prime location near the beach.

[smartcode_project:default project_id=108274 project_image_fid=190260]

Designed by Marchese Partners, Pacific One delivers a range of one, two, three and four-bedroom apartments, with expansive Sky Homes and Penthouses topping the development.

Pacific One will also offer over 2,000 sqm amenity, some of which is dedicated solely to buyers of the Sky Home and Penthouse collections, which will be officially launched later this year.

<h2>Pearl Main Beach - 3550-3552 Main Beach Parade, Main Beach</h2>

Developer: Raptis

[smartcode_project:default project_id=106752 project_image_fid=182205]

Rising 30 floors on&nbsp;<a aria-label="Main Beach Parade - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/developments/main-beach-qld-4217" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/developments/main-beach-qld$mainbeachparade">Main Beach Parade</a>, Pearl is a collection of 80 two and three-bedroom residences at the northern end of the Gold Coast and the first foray into the Main Beach market for the developers, Raptis.

The apartment tower has been designed to take advantage of great outlooks to the beach, with an extensive shoreline on offer from apartments or the rooftop.

[smartcode_project:default project_id=106752 project_image_fid=182207]

A residents lounge, pool, gym and entertaining facilities crown the building, set against an extensive background of coastline.

Ideally located just a short stroll from the beach and the famed Tedder Avenue, residents are nearby to a range of amenity including The Spit and Marin Mirage, while also being connected to the broader Gold Coast region through well-serviced public transport links.

<h2>Tapestry - 39 Darrambal Street, Surfers Paradise</h2>

Developer: Siera Group

[smartcode_project:default project_id=108641 project_image_fid=192963]

Tapestry, the 22-level project on the east-side of&nbsp;<a aria-label="Chevron Island - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/developments/chevron-island-qld-4217" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/developments/chevron-island-qld$chevronisland">Chevron Island</a>&nbsp;at 39 Darrambal Street, was developed by the Brisbane-based Siera Group, with designs by local architecture firm, BDA, whose brief was to merge art with architecture.

The result is a striking building of 113 apartments, featuring a&nbsp;mixture of vertical blade walls and horizontal slab edges which respond to available views and natural light.

[smartcode_project:default project_id=108641 project_image_fid=192968]

Tapestry offers a mix of two and three-bedroom residences, with floorspace of up to 124 sqm, crowned with some of the most impressive amenity on the Coast with a resort-style&nbsp;swimming pool with day beds, a spa, and a pool deck, as well as a&nbsp;barbecue and alfresco area encased in lush landscaping and an edible garden.

Aligning with&nbsp;the Gold Coast City Council&#39;s efforts to make Surfers Paradise an arts and cultural hub, Siera also engaged local artist Tania Blanchard to create a piece of artwork that will hang in the lobby when completed.

<h2>The AU Surfers Paradise - 52A The Esplanade</h2>

Developer: ASF Group

[smartcode_project:default project_id=6762 project_image_fid=187228]

Delivered by ASF Group, The AU is a collection of just 12 exclusive full-floor ocean-view &lsquo;sky homes&rsquo; and two opulent three-level penthouses.

Sitting on the sought-after Esplanade in Surfers Paradise, the 19-storey tower features natural stone benchtops, and gold fixtures and finishes throughout.

[smartcode_project:default project_id=6762 project_image_fid=198236]

With a fa&ccedil;ade made almost entirely of golden glass, each apartment offers clear panoramic views of the Surfers Paradise beach, the ideal outlook on your special day-in.

The whole-floor residences are approximately 255 sqm in size, offering four or three-bedrooms&nbsp;+ MPR, with each featuring a private lift lobby, unobstructed views of the beach and ocean, and vast living and dining spaces.

<h2>Victoria &amp; Albert - 12-18 Albert Avenue, Broadbeach</h2>

Developer: Iris Capital

[smartcode_project:default project_id=107928 project_image_fid=178909]

Taking its name from Broadbeach streets, Victoria and Albert, the project comprises 398 apartments over two towers of 40 and 56 storeys, with a subtropical recreational podium, featuring two levels of premium offices and commercial facilities, and a fresh food and dining retail on the street level.

Design firm,&nbsp;<a aria-label="DBI Architects - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/dbi" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/dbi-design$dbiarchitects">DBI Architects</a>, has curated a design referencing the coastal environment, moving away from smaller unit types to embrace the growing demand for larger apartments.

[smartcode_project:default project_id=107928 project_image_fid=184933]

The lower floors offer a mix of one, two and three-bedroom layouts while the upper residences offer a mix of three-bedrooms, with both towers topped by sub‐penthouses and penthouses.

Residents will live among world‐class amenities, with both towers offering an elevated recreational podium with a 25-metre lap pool, a gym, a yoga deck and resident&rsquo;s lounge as well as kid&rsquo;s area, a Zen garden, an outdoor dining and barbecue space, all surrounded by lush green landscaping.

<h2>Yves, Mermaid Beach - 7-9 Mermaid Avenue, Mermaid Beach</h2>

Developer: Hirsch &amp; Faigen&nbsp;

[smartcode_project:default project_id=102451 project_image_fid=186075]

Located just metres behind the famed Hedges Avenue beachfront strip, Yves will soon rise on 7-9 Mermaid Avenue with construction kicking of this month.

Once complete, Yves will comprise 145 luxury residences over 26 levels, with a suite of high end residential amenities.

[smartcode_project:default project_id=102451 project_image_fid=186074]

Designed by Rothelowman, a mix of two, three and four-bedroom apartments are still available, with the tower experiencing a spat of sales on launch, hitting over 50 per cent in the first two months.

Yves will join Hirsch &amp; Faigen&rsquo;s growing portfolio of Gold Coast projects, following the $75 million Hemingway Palm Beach and $85 million Emerson Kirra which are currently under construction by Hutchies.

[smartcode_project_cta: project_id=102451]

The Gold Coast remains the most sought after location in the country. Now more than ever, Architects and Developers are providing a wide variety of residences available. Urban have taken a closer look at 10 Gold Coast apartments we think you May love...

Gold Coast apartments you MAY love

The Gold Coast apartment boom may have come off its 2021 highs, but solid sales reported in first three months of the year reveal continuing momentum as new apartment supply hits a record low.

Data compiled by property consultancy shows the Gold Coast recorded 377 new apartment sales in the March quarter, well off the 2021 high of 742 in the equivalent quarter last year.

The result also falls short of last year&rsquo;s low of 450 sales for the June quarter.

[smartcode_project:default project_id=102451 project_image_fid=186075]

Despite 11 new projects launching during the quarter the data continues to highlight the ongoing shortage of new apartments with just 411 new apartments remaining for sale at the end of March, which is the lowest number ever recorded by Urbis since it began monitoring the new apartment market in 2014.

Based on the current quarterly sales rate, the Gold Coast has just 3.3 months of supply remaining, although Urbis notes that this figure will change once a number of large-scale projects are released to the market over the coming months.

&ldquo;Sales have certainly eased off their 2021 highs in the latest quarter, but that&rsquo;s not unexpected considering the high levels achieved last year,&rdquo; said Urbis director Lynda Campbell.

&ldquo;The key statistic this quarter is the drop in the number of apartments for sale to a record low, which shows the supply side is still failing to keep up with demand. It&rsquo;s unclear whether the supply shortage had any bearing on overall sales for the March quarter as the urgency to buy that we saw in 2021 is showing signs of easing.

[smartcode_project:default project_id=108747 project_image_fid=190743]

&ldquo;However, there are several large projects coming to the market and we will be watching these sales closely as the market digests rising interest rates and any new initiatives at the federal level.

&ldquo;The obvious concerns surrounding construction costs and supply chain issues means that we do not expect to see as many projects make it out of the ground as in previous years while volatility and viability are managed.&rdquo;

Off the back of an impressive run of sales last year with a record 2,492 new apartments sold, the current quarterly sales rate could translate into another high-performing year the market.

Prior to 2021, the Gold Coast market absorbed an average of 1,100 new apartments a year with a high of 1,600 in 2015 and a low of 800 in 2017. If the March-quarter sales of 377 are repeated throughout the year, 2022 is on track to becoming the third biggest year for sales behind 2015.

&ldquo;The dominant buyer profile for Gold Coast apartments remains owner occupiers looking for larger apartments,&rdquo; said Campbell.

[smartcode_project:default project_id=106646 project_image_fid=184787]

&ldquo;Almost a third of the sales &ndash; about 31 per cent &ndash; were at price points above $1 million, which reflects the general increase in apartment values.&rdquo;

The Gold Coast Central precinct, which includes Southport, Surfers Paradise and Broadbeach, had the highest number of sales in the March quarter with 243 sold, followed by the North Shore, which includes Hope Island, where all 90 sales were made.

The Coastal Fringe precinct and the Southern Beaches precinct &ndash; which is from Mermaid Beach to Coolangatta &ndash; both saw a drop in sales, with the Southern Beaches precinct falling to 27, the lowest since late 2017.

Urbis puts the drop in sales across these areas down to limited supply, with just 67 apartments remaining in the Southern Beaches precinct at the end of March.

Data compiled by property consultancy shows the Gold Coast recorded 377 new apartment sales in the March quarter, well off the 2021 high of 742 in the equivalent quarter last year.



Gold Coast apartment market down but not out as supply hits new record low 

The ASX-listed Woolworths Group, has lodged plans for a mixed-use redevelopment across Rangers Road in Neutral Bay.

The supermarket giant's development arm, Fabcot, has submitted the&nbsp;plans to reinvigorate the already existing retail space, along with an activated pedestrian laneway and plaza, as well as residential apartments.

The project&nbsp;will provide a mix of one, two and three-bedroom apartments, starting from 65 sqm for the one-beds to the largest offering at 398 sqm, all adjoining to landscaped balconies.

<img alt="" data-entity-type="" data-entity-uuid="" height="1116" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-27_at_11.31.25_am.png" width="1578" /> 
Artist Impression, Central Plaza View. Credit:&nbsp;Ivolve Studios

Designed by renowned Sydney-based architects, Koichi Takada, the $6 million project will be visually connected to Military Road, with open corners to Rangers Road and a large open entry plaza.

The building form has been broken into distinct forms to break down the mass and create articulation between the podium, and upper floors.

The public plaza design plays an integral role in the precinct, with a highly active retail and dining, office and residential space existing throughout new green spaces, designed by Arcadia, as well as community facilities.

“The principal design approach was to create an intrinsic relationship between architecture and nature while promoting a variety of retail activation, integrated outdoor seating, and good pedestrian connectivity from Rangers Road to Yeo Street,” Koichi Takada Architects noted in their design application.

<img alt="" data-entity-type="" data-entity-uuid="" height="1120" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-27_at_11.31.43_am.png" width="1580" /> 
Artist Impression, Yeo Street Facade. Credit: Ivolve Studios

“The public plaza combines substantial planters to promote canopy trees growth as well as water fountains to promote children’s play.”

The architectural design incorporates façade planters to the setback and terrace floors, with a residential communal open space allocated on the rooftop with a plunge pool, seating, and barbecue facilities.

The feature façade concept integrates modular planters on slabs to provide both the commercial and residential residents a connection to landscape.

The perimeter retail to the plaza expresses a double height volume to enhance the layers of activation both at the ground floor and level one, with the site link visually connecting the plaza to Yeo Street, activating the side streets, while the anchor tenant, Woolworths, will ensure constant foot traffic across the ground floor.

The outdoor dining space will be covered and protected by the feature awning, allowing the spill out of retail and cafe tenants to engage with the public domain, while providing a protected path of travel for pedestrians.

The feature awning is supported with organic columns reminiscent of the branches of a tree, with greenery spilling over the awning effectively continuing the landscape character from the public domain up onto the building façade.

<img alt="" data-entity-type="" data-entity-uuid="" height="1118" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-27_at_11.32.09_am.png" width="1582" /> 
Artist Impression, View of Plaza. Credit: Ivolve Studios

“Inspired by the naturally occurring landscape character of Neutral Bay, the design integrates public activation with a natural and refined aesthetic, providing an activated, unique and integrated public domain.”

“The gentle curves of the sandstone gully’s and Angophora Trees that have existed in Neutral Bay’s natural context, inspired an architectural language that is organic, curved, and sophisticated. The natural facade ties into Neutral Bay’s past and aims to invigorate Rangers Road with community facilities and public domain activation.”

The high-quality retail with a focus on food and beverage offerings, activating the precinct with community amenity during both the night and day. &nbsp;

Woolworths Group to redevelop Neutral Bay site with residential apartments  

The national property developer, Fortis, has been given the green light by the&nbsp;Woollahra Council to go ahead with their luxury apartment development on Rose Bay&#39;s Spencer Street.

The&nbsp;development of 12 apartments at 5-13 Spencer Street is the group&rsquo;s third project in the area.

Construction is expected to commence later in the year, delivering a collection of two and three-bedroom apartments, boasting large living, entertainment and outdoor areas.

Designed by MHN Design Union, the Spencer St project will feature natural stone, with the building&rsquo;s form defined by regular openings, deep reveals, columns and solid panel walls that provide rhythm of light and shadowed elements through a mix of light textured render and a custom format handmade brick.

Located on a north-facing block, residences will bask in natural light, each complimented by private garages, expansive outdoor areas and lush gardens, designed by leading Australian creative landscape practice, Dangar Brian Smith, with select ground floor apartments featuring private pools.

&ldquo;Spencer St is our third residential project in Rose Bay, following The Benson and No.1 Carlisle. The response we have previously had from residents in this neighbourhood has been incredible, with Fortis projects selling out months before completion,&rdquo; says Charles Mellick, Director, Fortis.

<img alt="" height="451" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-27_at_1.01.20_pm.png" width="628" />

Spencer St is the groups third residential project in Rose Bay, following The Benson and No.1 Carlisle, with Fortis Director, Charles Mellick saying the response from previous residents in the area has been incredible, with Fortis projects selling out months before completion. &nbsp;

&ldquo;Our sales success is a reflection of the robust demand in Sydney&rsquo;s eastern suburbs, where residents desire luxury living spaces that offer the best of location, amenities and quality. With an expected end value of $94 million, we are confident that Spencer St will be equally well-received by the local community,&rdquo; he added. &nbsp;

Just a short walk from Rose Bay village, Spencer St lands on an amalgamated 2,223 sqm site that consolidates four independent properties, which was acquired by Fortis for $28.5 million in early-2021.

Located less than 10 kilometres from the Sydney CBD, the Rose Bay site is just a short walk away from the new Harris Farm&nbsp;precinct and is in proximity to Rose Bay beach and ferry wharf, along with the Royal Sydney Golf Club, Royal Motor Yacht Club and Point Piper Marina. With a wealth of nearby recreational amenity, Rose Bay is also well serviced by a string of public transport options.

Pallas Group is the parent company of real estate financier and investment manager, Pallas Capital, and property developer, Fortis. The expected end value of Fortis projects currently under construction or under a planning proposal is $3 billion nationwide.

Construction is expected to commence later in the year, delivering a collection of two and three-bedroom apartments, boasting large living, entertainment and outdoor areas.



Fortis secures development approval for third Rose Bay apartment development 

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

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Alison Warters

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