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There were 896 sales in Perth this week, up 8% from the 822 last week and up 39% from the same weekend last year, according to the Real Estate Institute of Western Australia.
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Perth sales up 39% on same week last year: REIWA

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The percentage of Melbourne suburbs with a median house price of under $300,000, according to RP Data. This is the second-lowest percentage in Australia; Canberra doesn't have a single suburb with a median house price under $300,000.
 
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The percentage of Perth suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Sydney suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Darwin suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Adelaide suburbs with a median house price of under $300,000, according to RP Data.
 
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<img src="/images/stories/13point1percent.gif">
The percentage of Brisbane suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Hobart suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of all capital suburbs with a median house price of under $300,000, according to RP Data.
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The number of suburbs in each capital city with median house prices under $300,000: RP Data

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The RBA has released a chart showing the 15 regions with the highest rates of mortgage arrears. Of the 15, six are in Queensland, and six in New South Wales.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/absmarch283.gif"><img src="/images/stories/absmarch283thumb.gif"></a>
The RBA report also shows that <a href="https://www.propertyobserver.com.au/residential/households-continuing-to-deleverage-as-house-prices-fall-rba/2012032854046" target="_blank">households are deleveraging as housing prices fall</a>.
 
 
 
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Ipswich City, SW Sydney and Gold Coast lead list of 15 regions with highest mortgage arrears rates: RBA

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The property at 121 Treasure Island Avenue, Karragarra Island, tops SQM Research's list of the most discounted properties in Queensland. Its neighbour 700 metres down the road, 60 Treasure Island Avenue, still appears on realestate.com.au for sale but does not appear on SQM's list.
"At the moment there are a number of forces out there which could have either a positive or negative influence on the Queensland property market," says SQM director Louis Christopher.
"They include factors such as the recent change of government (which could have a positive impact on the housing market) or issues such as the fact that there is still an elevated supply of real estate on the market, particularly in north Queensland and south-east Queensland, which has already had a negative impact on house prices and will most likely continue to unless stock levels decrease."
1
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618">121 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a>
On the market since: October 23, 2010
Initial asking price: $335,000
Current asking price: $200,000
Reduction: 40%
Days on market: 511
 
 
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009242341">102 Bancroft Terrace, Deception Bay, Queensland, 4508</a>
On the market since: September 26, 2011
Initial asking price: $645,000
Current asking price: $419,000
Reduction: 35%
Days on market: 175
 
 
3
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009417474" target="_blank">320 Redbank Plains Road, Bellbird Park, Queensland, 4300</a>
On the market since: December 19, 2011
Initial asking price: $1,499,000
Current asking price: $975,000
Reduction: 35%
Days on market: 91
 
4
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105609896">40 Courageous Court, Newport, Queensland, 4020</a> (pictured)
On the market since: March 29, 2003
Initial asking price: $1.75 million
Current asking price: $1.15 million
Reduction: 34%
Days on market: 1,084
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008986804">64 Beckwith Street, Ormiston, Queensland, 4160</a>
On the market since: May 15, 2011
Initial asking price: $779,000
Current asking price: $525,000
Reduction: 33%
Days on market: 308
 
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107475501">65 Brentford Road, Richlands, Queensland, 4077</a>
On the market since: June 18, 2011
Initial asking price: $525,000
Current asking price: $359,000
Reduction: 32%
Days on market: 273
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107603313" target="_blank">34 Seraya Court, Closeburn, Queensland, 4520</a>
On the market since: August 13, 2011
Initial asking price: $1,450,000
Current asking price: $995,000
Reduction: 31%
Days on market: 217
 
8
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106322479" target="_blank">1255 Gympie Road, Aspley, Queensland, 4034</a>
On the market since: February 20, 2010
Initial asking price: $510,000
Current asking price: $350,000
Reduction: 31%
Days on market: 756
 
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<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107227469" target="_blank">36 First Avenue, Beachmere, Queensland, 4510</a>
On the market since: March 5, 2011
Initial asking price: $450,000
Current asking price: $310,000
Days on market: 378
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106826848" target="_blank">226-228 West Mount Cotton Road, Cornubia, Queensland, 4130</a>
On the market since: October 2, 2010
Initial asking price: $1.2 million
Current asking price: $860,000
Reduction: 28%
Days on market: 532
 
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SQM Research also offers a list of the <a href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
 
 
 
 
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Treasure Island Avenue home heads list of most discounted properties in Queensland: SQM Research

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The RBA’s decision to cut interest rates in November and December last year had an immediate effect on the property market in Melbourne’s struggling eastern suburbs, says Jellis Craig.
Jellis Craig Mount Waverley directors Paul Polychroniadis and Con Lazogas have written in Jellis Craig’s Annual Property Review that another interest rate drop would help the suburbs in the Melbourne municipality of Monash further.
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<a rel="shadowbox" href="/images/stories/monashcomment1.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment1thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“The two consecutive interest rates drops in November and December 2011 had an immediate and positive impact on the local market, with the level of enquiry increasing measurably,” write Polychronidadis and Lazogas.
“We anticipate that any additional rate reductions will further stimulate the market. We have already witnessed larger numbers of viewers at our open for inspections.”
They say that families looking to upgrade are buoying the market in these areas thus far in 2012.
<a rel="shadowbox" href="/images/stories/monashcomment2.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment2thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“Whilst buyer enquiry has lifted across the board, it is most evident for houses in the $650,000 to $1.2 million range and townhouses in the range $500,000 to $800,000,” they say.
“Increased competition in the mortgage market will offer up attractive opportunities for buyers to finance in this range.”
This is in contrast to the end of last year, when buyer numbers were down and prices falling.
“We did see the number of bidders for each property down from the four or five parties from the previous year. This lack of competition kept prices subdued.”
 
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Further rate cuts would help property market in Monash in Melbourne’s eastern suburbs: Jellis Craig

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8/447 Sydney Road, Balgowlah, NSW, 2093
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/sydneyrd.jpg"> 
With tenants paying the "fantastic rent" of $550 per week, this two-bedroom apartment in the Sydney northern beaches suburb of Balgowlah could be a good prospect for investors, but it was passed in at its weekend auction. Ray White agent Mark Griffiths says although the tenants of two years are on an expired lease, their rent was reviewed recently and ithe tenants are paying considerably above average rent for the block. The median asking rent for Balgowlah units is $500 per week, according RP Data.
Griffiths <a href="https://www.raywhite.com/nsw/balgowlah/745945/" target="_blank">is marketing the property</a> with price hopes of $479,000 plus after it was passed in on a vendor bid of $460,000 at its weekend auction. Griffiths says he is negotiating with a potential buyer who put in a pre-auction bid of $460,000 as well as another buyer. If it sells for $479,000, that would secure an investor a gross rental yield of 6%, far higher than the indicative gross rental yield of 4.2% for Balgowlah units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $28,000.
The median unit price for Balgowlah fell by 12.5% in the past year, according to RP Data.
For more about prices and yields in Balgowlah, see the RP Data suburb page.
 
 
 
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Investor form guide wrap: No takers yet for yields of up to 6% in Balgowlah

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<img src="/images/stories/10989.gif">
The number of properties available to rent in Melbourne, which has a vacancy rate of 3%, according to SQM Research. This is down from 12,719 in January but up from 9,998 at this time last year.
 
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<img src="/images/stories/7972.gif">
The number of properties available to rent in Sydney, which has a vacancy rate of 1.5%, according to SQM Research. This is down from 8,456 in January but up from 6,894 at this time last year.
 
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The number of properties available to rent in Brisbane, which has a vacancy rate of 1.6%, according to SQM Research. This is down from 5,112 in January but up from 4,479 at this time last year.
 
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<img src="/images/stories/2219.gif">
The number of properties available to rent in Adelaide, which has a vacancy rate of 1.3%, according to SQM Research. This is down from 2,231 in January but up from 1,657 at this time last year.
 
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The number of properties available to rent in Perth, which has a vacancy rate of 0.6%, according to SQM Research. This is down from 1,084 in January and from 1,567 at this time last year.
 
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<img src="/images/stories/637.gif">
The number of properties available to rent in Hobart, which has a vacancy rate of 2.3%, according to SQM Research. This is up from 583 in January and from 266 at this time last year.
 
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The number of properties available to rent in Canberra, which has a vacancy rate of 0.7%, according to SQM Research. This is downfrom 382 in January and from 285 at this time last year.
 
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The number of properties available to rent in Darwin, which has a vacancy rate of 0.7%, accordign to SQM Research. This is down from 238 in January but up from 540 at this time last year.
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How much stock is available to rent in your capital city? A state-by-state analysis: SQM Research

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There's now a website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
Although the Brisbane auction market has been showing signs of life in recent weeks, this week all five properties featured on auction tipping competition Property Tycoon were passed in.
“The clear message coming from the Brisbane market is the auction system is not being used to sell property under the hammer but to flush out a buyer and negotiate afterwards,” says Mark Armstrong of Property Tycoon.
The Melbourne property in the competition featured on Property Observer last week, 14 Airlie Avenue, Prahran (pictured below) fared better.
<img src="/images/stories/airlie.jpg">
“A large crowd of around 100 turned out for the auction at 14 Airlie Avenue, Prahran, but although many parties had shown interest in the property only two were prepared to put up their hand when the auction started,” Armstrong says.
“One bidder was very strong and clearly wanted the property. It was passed in to him at $2.5 million and after a short negotiation it sold for $2.65 million.
<img src="/images/stories/wycombe.jpg">
But the Sydney unit at 1/95 Wycombe Road, Neutral Bay was passed in on a vendor bid of $1.55 million.
 
 
 
 
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Brisbane market struggles to maintain momentum, with all five Property Tycoon properties passed in

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Grammy award-winning singer Alicia Keys has listed the New York penthouse she bought two years ago from fellow Grammy winner Lenny Kravitz. 
Keys bought the Crosby Street penthouse for $12.75 million in February 2010 in her business manager's name, and <a target="_blank" href="https://www.propertyobserver.com.au/https://www.sothebyshomes.com/nyc/sales/0018037">she has now listed it for $17.95 million</a>. 
The American Woman singer probably wishes her luck – Kravitz tried to sell it off and on between 2002 and 2010, with price hopes vacillating between $12.5 million and $19.5 million. 
The five-bedroom, four-bathroom, four-powder room penthouse has 573 square metres of space, a butler's pantry, library/media room, wine cellar, spa and private terrace. Not surprisingly, the listing photos show a grand piano.
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Alicia Keys tries to flip Lenny Kravitz's former penthouse for a $5 million profit

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12/46 Kingsville Street, Kingsville, VIC, 3102
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/kingsville.jpg"> 
This one-bedroom ground-floor apartment is currently leased for $200 per week, and Barry Plant agent Peter Nichols says this is slightly under market rent. The tenants are on an expired lease, and Nichols says the property could probably rent for $220 per week. The property has parking onsite and is within walking distance of shops. 
Nichols <a target="_blank" href="https://www.barryplant.com.au/property.cfm?propertyID=1985566&amp;realestate=46_Kingsville_st_KINGSVILLE_VIC_3012&amp;menuItemID=41628">is marketing the property</a> with price hopes of $200,000 plus, and if it sells for $200,000 that would secure an investor a gross rental yield of 5.2% at its current rent or 5.7% if it were rented for $220 per week. Both are significantly higher than the indicative gross rental yield for Kingsville units of 4.2%, according to RP Data. 
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The median unit price in Kingsville went up by 2.5% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 24 at noon and will go to auction on Saturday, March 31 at 10.30am.
For more about prices and yields in Kingsville, see the <a target="_blank" href="/news">RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see page 2.
 
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104 Stella Street, Fairfield Heights, NSW, 2165
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/stellast.jpg"> 
The tenant in this three-bedroom house is paying $380 per week and is on an expired lease. Pretti Real Estate agent Stephen Jurinic says this is below market rent, and the property could be leased for between $400 and $420 per week. The house has timber floors, a timber kitchen and a detatched room that could make a good home office.
Jurinic is marketing the property with price hopes of $480,000 plus, and if it sells at that price it would secure an investor a gross rental yield of 4.2% at its current rent. If it were rented for $420 per week, that would secure a gross rental yield of 4.6%, below the indicative gross rental yield for Fairfield houses of 5.1%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $10,000 and over five years to be $28,000.
The median house price in Fairfield Heights rose by 7.2% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 24 at noon and will go to auction on Saturday, March 31 at 2pm.
For more about prices and yields in Fairfield Heights, see the RP Data suburb page.
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Friday form guide: Yields of up to 5.7% in Kingsville

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

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Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

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While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
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Cassidy Knowlton

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