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More business bodies have called for a deferral of harmonised occupational health and safety laws, with the Housing Industry Association and Master Builders Australia arguing for a further six months to prepare, and calling for more information on their cost to the housing industry.
HIA general manager Graham Wolfe says the January 1, 2012 deadline is unlikely to be met, with Victoria, South Australia, Western Australia and Tasmania yet to pass the relevant legislation.
"It's been a long journey, and I just don't think that now we're at the 11th hour we should rush in the application."
"The real issue here is: are the states ready to adopt it in due course, and if they do, what period of time do the sectors need to adapt?"
Wolfe argues there should be a moratorium until the regulation is subject to a cost-benefit analysis.
Master Builders Australia chief executive Wilhelm Harnisch says the MBA isn't seeking to thwart the legislation, because it supports harmonisation, but more time is needed.
Harnisch says with 21 codes still to be tabled and finalised, of which seven deal with the building and construction industry, the MBA is concerned there won't be enough time to digest the big changes.
Second, Harnisch says the January 2012 deadline comes at a difficult time for the building and construction sector, which typically shuts down two weeks before Christmas and throughout January.
"It's not a hidden agenda, it's about a phasing in," Harnisch says.
And assuming a deferral isn't granted, Harnisch predicts a "mad scramble" by the industry to try to adapt, "with all the attendant risks of a poor implementation."
But Jessica Fletcher, senior associate at Hall &amp; Wilcox, says the law firm has been advising its clients to prepare for the 2012 deadline, irrespective of comments by Western Australia that it will not take on all elements of the nationalised laws. Victoria, led by Liberal Premier Ted Baillieu, has also indicated it is seeking more time.
Fletcher says the delays raised by the housing bodies seem to have fed into concern about the changes.
But Fletcher points out that legislation enacted in New South Wales and Queensland matches elements of the harmonised OH&amp;S files, that many companies support nationalised laws because they operate across the country, and the new laws simply meet best practice.
"They put into the spotlight, do we have appropriate contractor management systems in place? And appropriate structures to ensure managers can manage safety risks?" Fletcher says.
"We're all trying to achieve safe work places and putting the right systems in place, there's no downside."
Independent Contractors Australia has also argued the laws should be put on hold until key issues are addressed.
The ICA argues the harmonised laws will mean employers will unfairly assume responsibility for the behaviour of their employers, rather than leaving individuals responsible for their own conduct. It has also raised alarm over the stripping of employers of their right to silence, and the ability of OH&amp;S authorities to seize businesses and their property without court oversight.
This article originally appeared on <a href="https://www.smartcompany.com.au/economy/20110913-housing-industry-bodies-throw-weight-behind-deferral-of-harmonised-oh-s-laws" title="SmartCompany" target="_blank">SmartCompany</a>.
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cknowlton-QnEa6ntUYP

Housing industry bodies throw weight behind deferral of harmonised OH&S laws

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{yoogallery src=[images/stories/september13wahlberg]}
Oscar-nominated actor Mark Wahlberg has listed his Beverly Hills, CA home for sale with price hopes of US$13,995,000. The seven-bedroom, 10-bathroom property includes a boxing gym, where Wahlberg reportedly trained for his role as Micky Ward in the 2010 Oscar-nominated film The Fighter.
Wahlberg listed the property in 2008 with price hopes of US$15.9 million but withdrew it from the market after the birth of his fourth child with girlfriend Rhea Durham.
The Former New Kid On the Block and Funky Bunch member bought the house for $4.95 million in 2001 through Marley Realty Trust, accorting to blockshopper.com. The property has a full tennis court and dramatic canyon views, and it includes extras befitting a Hollywood star, including a 35mm home theatre. It is within a gated estate, a private enclave of the rich and famous. 
The property is  listed through <a target="_blank" title="Hilton &amp; Hyland" href="https://www.hiltonhyland.com/property/2227/9694-Oak-Pass-Road">Hilton &amp; Hyland </a>agent Felix Pena.
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Mark Wahlberg lists in Beverly Hills

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Marinas in Queensland, once the subject of frenzied buying activity, have had a rough trot.

Horizon Shores on the Gold Coast, has fallen into the control of receivers McGrath Nichol. Its owner, Meridien Marinas, says it's business as usual for the marina, which has approvals in place to almost double its berth numbers to 2,000. About half the berths are occupied at the moment.
Meridien Marinas says the "combination of the ongoing GFC and strong Australian dollar has created difficult trading conditions for Australia's boating industry".
But Colin Bransgrove, chief executive office of industry body Marina Industries Association of Australia, says he's not heard of other businesses in the tightly held marina sector in trouble.
"Things have been tougher post-GFC, but because of the general shortage of marina berths in Australia, most are holding up reasonably well," Bransgrove told SmartCompany this morning.
"It's disappointing but not the norm."
There are 356 marinas in Australia, Bransgrove says, and most are owned by smaller companies or family companies. Leases tend to be quite regionalised, with Western Australia holding up better than Queensland, which was hit hard by the summer's natural disasters.
Of four marinas across Queensland, just one of Meridien Marinas' assets is not in administration: its marina in Port Douglas, which is said to be unaffected by troubles in the industry.
The Abel Point marina, which is part of the $750 million Port of Airlie project, is also in receivership, as is the Port of Airlie marina.
According to its website, Horizon Shore was "destined to become Australia's largest world-class marina, home to over 1,400 berths ranging in size from 9m-20m."
"Just 20 minutes from the Gold Coast and 30 minutes from Brisbane, it's at the heart of a boating paradise, right on the doorstep of South Stradbroke Island, Jumpinpin Bar and the Gold CoastSeaway."
Meridien Marinas managing director Russell McCart describes the appointment of receiverships to Horizon Shores and Abel Point Marinas as "very unfortunate" and says the company will be "working closely with the administrators in a concerted effort to return the business back to profitability."
"Abel Point and Horizon Shores Marinas are both excellent assets and have a great future and will continue to trade very well," McCart says.
"The receivers have re-employed all marina staff and will continue to operate as usual, without disruption."
"Meridien has committed over $75 million into Horizon Shores and the majority of infrastructure works are now completed."
The collapse also follows the collapse of Queensland boat builder Riviera in 2009, on the back of debts and the GFC.
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Queensland marina in receivership as strong Aussie dollar bites

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Industry group Tourism Whitsundays expects the tourism mecca will shrug off the appointment of receivers to key projects in the region.

Abel Point Marina at Airlie Beach and the Port of Airlie development have both been handed over to receivers McGrathNichol, after Bank of Scotland International pulled the plug.
Tourism Whitsundays chief Peter O'Reilly says the $750 million Port of Airlie project, promoted as a gateway to the Great Barrier Reef, ran into a long series of troubles.
These included the GFC reducing the risk appetite of its lenders and unseasonal rain during development leading to delays, which then gave buyers the opportunity to contest their acquisitions given a slump in property prices nearby.
But O'Reilly says it's business as usual at the Port of Airlie and the troubles haven't had a huge impact locally despite the project being only partly completed. In fact, Whitsundays tourism is seeing some positive signs.
"The youth adventure backpacking market is soft, but the mainstream is there," he says. "Operators who are good marketers have got business."
"Some say they have had five months of consecutive growth on last year, but last year was an ordinary year as a base."
"It's coming back, but it's challenging, especially the international market."
"But the Townsville, Mackay market has been reasonable, as well as Brisbane, Sydney and Melbourne."
Still, the Port of Airlie development was seen as one that would "raise the bar for the whole of Airlie Beach," O'Reilly says.
"We're not going to see the hotel development and the other retail development go ahead, which is unfortunate," he says.
This article originally appared on <a href="https://www.smartcompany.com.au/business-travel/20110908-whitsundays-tourism-developments-in-receivership-but-industry-hopes-region-can-recover" title="SmartCompany" target="_blank">SmartCompany</a>.
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Whitsundays tourism development in receivership

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17 Dunloe Avenue, Norlane, VIC, 3214
<img src="/images/stories/dunloe.jpg">
This three-bedroom, one-bathroom house in the Geelong suburb of Norlane is currently tenanted at $280 per week. The property has been recently renovated and has a new laundry, new wardrobes, new roof, insulation, plumbing and wiring, and new carpets and paint job. It is 400 metres to Norlane Primary School and within walking distance of Bell Post Shopping Centre and a leisure centre. <a href="https://www.fletchers.net.au/Property-Details.php?p=2600616" title="Fletchers Geelong" target="_blank">Fletchers Geelong</a> agent Duncan Skene is marketing the property with price hopes of $220,000 plus, and if it had sold at that price that would have been a gross rental yield of 6.6%, considerably higher than the indicative gross rental yield for houses in Norlane of 5.8%, 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. The property was passed in on a vendor's bid of $255,000 on Saturday, September 10.
For more information about prices and yields in Norlane, see the RP Data suburb page.
For other investment prospects going to auction this weekend, see pages 2 and 3.
 
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6A Arthur Street, Belmont,VIC, 3216
<img src="/images/stories/arthurst.jpg">
This three-bedroom property in the inner-Geelong suburb of Belmont could appeal to investors, as it is tenanted at $280 per week until July 2012. It is close to parkland and five kilometres from Geelong CBD. <a href="https://www.barryplant.com.au/property.cfm?propertyId=1835788&amp;trapfour=y_num" title="Barry Plant South Barwon" target="_blank">Barry Plant South Barwon</a> agent Nathan Ashton is marketing the property with $270,000 plus hopes. If it sells for $270,000 that would mean a gross rental yield of 5.4%, well above the indicative gross rental yield for houses in Belmont of 4.8%, 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. The property will go to auction on Saturday, September 10 at 1.30pm.
For more information about indicative gross rental yields and prices in Belmont, see the RP Data suburb page.
 
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48 South Kiama Road, Kiama Heights, NSW, 2533
<img src="/images/stories/kiamaheights.jpg">
A rental assessment of this two-bedroom property by selling agent Angela Bennett of<a href="https://www.ljhooker.com.au/Q7H82" title="LJ Hooker" target="_blank"> LJ Hooker Kiama</a> estimates that this property could be rented out for between $320 and $330 per week. Bennett is marketing the property with price hopes of $340,000 plus, and if it sells for $340,000 and is rented for $330 a week, that would equate to a rental yield of 5.7%, far higher than the indicative gross rental yield for Kiama Heights of 4.6%, 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. This property goes to auction on Saturday, September 10 at 2pm.
For more information about gross rental yields and prices in Kiama Heights, see the RP Data suburb page.
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Friday Form Guide: Yields of up to 6.6% in Norlane

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The first stage of a new townhouse development in Melbourne’s outer suburbs has sold out within a month, with owner-occupiers and “mum and dad investors” the main buyers.
Developer Sunland Group has sold all 22 two-bedroom townhouses in stage one of its new Eton Terraces development in the Melbourne suburb of Bundoora four weeks after they launched in July, and it hopes to get a similar result when it brings the 27 townhouses in stage two onto the market next week.
Eton Terraces is within the Chancellor masterplanned community within the precinct of <a target="_blank" title="Bundoora" href="/news">Bundoora </a>known as University Hill, close to the campuses of RMIT and La Trobe University and about 40 kilometres from Melbourne CBD.
Sunland Group marketing manager Alexandra Stuart-Robertson  says the proximity to the universities was a boon for attracting a wide range of buyers.
“We had a lot of owner occupiers, a lot of first home buyers and a lot of professional couples,” she says. “We’ve got university students, and we’ve got mum and dad investors looking for a property that would suit their children as they grow up, especially when they are in university.”
The 49 townhouses ranged in price between $425,000 and $465,000, and all will be 82 square metres. Construction is set to begin in the next month and is expected to be completed in July or August 2012.
Stuart-Robertson says the design of the townhouses was a major selling point.
“This is the latest showcase of the Sunland designs – our architects have really considered the design aspects to make these properties as liveable as possible,” she says. “The inclusions and fixtures in these homes are very elegant and modern and will appeal to a wide variety of people.”
She adds that the location, which is connected by tram to Melbourne CBD, also attracted different types of buyers.
“It is one of those areas that will appeal to a wide variety of people for many years to come.”
Other developments in the Chancellor community include refurbished apartment building Heritage.
Gold Coast-based Sunland Group also developed the Balencea and Yve buildings on St Kilda Road, and was behind luxury development Q1 at Surfer’s Paradise.
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Mum and dad investors snap up Bundoora townhouses

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{yoogallery src=[images/stories/september7michaelbay]}
Action movie director/producer Michael Bay has listed his Montecito, California mansion with $6.8 million hopes. The 502-square-metre, four-bedroom house has an infinity pool, one-bedroom guest house and lush landscaping. It is being marketed by <a target="_blank" title="Sotheby's" href="https://www.propertyobserver.com.au/https://www.sothebyshomes.com/Santa-Barbara-Real-Estate/sales/0113519">Sotheby's </a>agent Suzanne Perkins.
Bay, the director of Hollywood blockbusters such as the Transformers franchise, Pearl Harbour and Armageddon, bought the Jan Hochhauser-designed property in 1997.
Bay's net worth has been estimated at $500 million, thanks almost entirely to explosions, Ben Affleck, Shia Labeouf and pretty girls on motorcycles. 
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Michael Bay looks to transform his portfolio as his Montecito mansion explodes onto the market

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{yoogallery src=[images/stories/september6rodney]}
1049 Rancho Drive, Ojai, California
Architect Rodney Walker built this glass-walled, four-bedroom house for himself in 1959. Walker, who designed three homes for Art &amp; Architecture magazine's Case Study project, was an early proponent of indoor-outdoor living, and his striking residence brings the outside in and vice versa. Cuttinge-edge for its time, the house on 1.4 hectares offers 270-degree panoramic views over the Ojai Valley. 
Like Frank Lloyd Wright, Walker used equilateral triangles in many of his designs, including a sweeping overarching triangular roof on this property.
The house is being marketed by<a href="https://walkerresidence.com/index.php" title="Crosby Doe" target="_blank"> Crosby Doe</a> Associates with price hopes of US$3.95 million plus. 
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Architect's glass house for sale

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One year after the snappy sale of 106 apartments in the Hampton hotel redevelopment in Potts Point, the developers have been unable to repeat its success with a further nine offerings.
The four cheaper offerings – the studio and three one-bedroom apartments – did sell at recent auction, but below the prices the listing agents Ballard Property group had hoped to secure.
All five two-bedroom apartments were passed in, though Ballard senior sales executive Charlie Brendon-Cook says there is interest in them.
The two-bedroom apartments were passed in at prices between $1.1 million and $1.29 million, with three of them passed in on a vendor’s bid.
<a href="https://www.propertyobserver.com.au/developments/hampton-hotel-redevelopment-offers-nine-more-units-a-year-after-buy-up-frenzy/2011082651303" target="_blank">Before the auction</a> Brendon-Cook said Ballard hoped to secure about $400,000 for the one studio offering, but it sold for $376,000. In last year’s release of the 112-apartment initial offering, which Brendon-Cook suggested were of a similar fitout standard, the pricing for studios began at $385,000. He says the results were very reasonable considering the current Potts Point market.
“There are studios around here that go for $280,000,” Brendon-Cook says. “Not many go up in the fours.”
Prices for the one-bedroom apartments ranged at last month’s auction from $455,000 to $650,000. Brendon-Cook says “the vendor was happy to sell for that price”.
The Hampton hotel was owned by the Nemeth family, who released the original 112 through CBRE and retained 13, including the four penthouses, in June last year.
The Nemeth family entered into a joint venture with residential developer Toga Group on the project. More than 2,000 buyers lodged expressions of interest for the Bayswater Road apartments. By the end of the launch in June 2010, 106 had been sold. Some 70% were sold last June to investors.
The family decided to release the nine non-penthouse apartments through Ballard, and they were auctioned by Sydney auctioneer Damien Cooley last month.
The Toga Group paid $17 million earlier this year for the Mansions Hotel, set diagonally opposite, with plans to build apartments above the pub.
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No sellout for Hampton development's second offering

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{yoogallery src=[images/stories/september5alley]}
Actress Kirstie Alley has listed her five-bedroom, four-bathroom cottage in rural Maine with $2.35 million hopes. The Dancing With the Stars contestant and Fat Actress star bought the house, which has a flowery pink interior design, in 2003 for $1.15 million. <a href="https://www.sothebysrealty.com/eng/sales/detail/180-l-910-4305533/living-room-islesboro-me-04848" title="Sotheby's" target="_blank">Sotheby's International </a>agent Jackie Hall is marketing the 190-square-metre cutesy cottage, whose interiors somewhat resemble a life-sized dollhouse.
The 6.5-hectare property includes a private wooden dock for flower-festooned (or otherwise) boats and includes lush English-style gardens. It also has beach frontage.
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Kirstie Alley thinks pink in Maine retreat

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.

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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.

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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.

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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.

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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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