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1/57 Pechem Street, Glenroy, VIC, 3046
<img src="/images/stories/pechem.jpg">
This three-bedroom, two-bathroom house will appeal to tenants, as it is within walking distance of Glenroy train station. A rental analysis of the property carried out by selling agent Danny Coffey of <a href="https://www.raywhite.com/vic/glenroy/639854/" title="Ray White Tullamarine" target="_blank">Ray White Tullamarine</a> estimates the rental potential to be about $350 per week. The house is listed with price hopes of $410,000 plus. If it sells for $410,000 it will net an investor a yield of 4.44%, higher than the gross indicative yield for Glenroy of 3.5% for houses, according to RP Data. A result of $440,000, which Coffey says he is hoping for, would net an investor yields of 4.14%. The property goes to auction on Saturday, August 6 at 12.30pm.
For more information about gross indicative yields and prices in Glenroy, see the RP Data suburb page.
For more investment possibilities going to auction this weekend, see pages 2 and 3.
 
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11 Evergreen Circuit, Cheltenham, VIC, 3192
 
<img src="/images/stories/evergreen.jpg">
This three- or four-bedroom, two-bathroom house has a light-filled, airy interior and is close to Southland shopping centre. It includes blond-wood floors and a private courtyard. Indicative gross rental yield for Cheltenham is 3.5% for houses, according to RP Data. The property is being marketed by <a href="https://www.buxton.com.au/" title="Buxton" target="_blank">Buxton </a>agent Sam Upleger with price hopes of $610,000 plus. It will go to auction on Saturday, August 6 at 11.30am.
For more information about indicative gross rental yields and prices in Cheltenham, see the RP Data suburb page.
 
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119 Old Canterbury Road, Dulwich Hill, NSW, 2203
<img src="/images/stories/oldcantebury.jpg">
With three bedrooms, this light-filled property is in a quiet cul-de-sac off a main road and includes a courtyard and built-in barbecue. It is in an area popular with families and is within walking distance of a train station, buses and schools, which means it is likely to appeal to tenants. Gross indicative yield in the suburb is 3.5%. The property is being marketed by <a href="https://www.sydneyboutique.com.au/pol/property/search.asp?f_PropertyID=1712778&amp;f_AgentID=4331&amp;xsl=4331&amp;f_st=1" title="Sydney Boutique Property" target="_blank">Sydney Boutique Property</a> agent Tom Scarpignato with price hopes of $740,000 plus. The house goes to auction on Saturday, August 6 at 12.45pm.
For more information about gross indicative yields and prices in Dulwich Hill, see the RP Data suburb page.
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cknowlton-QnEa6ntUYP

Friday Form Guide: Potential yields of 4.4% in Glenroy

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{yoogallery src=[images/stories/august4blackfriars]}
8 Blackfriars Close, <a target="_blank" title="Toorak" href="/news">Toorak</a>, VIC, 3142
This home is one of a kind. One could be mistaken for entering a country retreat with tranquil grounds and a variety of peaceful rooms to relax in. This is a home for someone wanting something different from the norm. If stairs are not a concern, it would work well for families with teenage children. There is no connection between the kitchen to the back yard, nor from the upstairs living areas, so it may not suit families with younger children and these are reflected in the rating. That being said, I liked it. Every opportunity for light has been brought in. The living rooms and bedrooms all face north. The home is extremely private and it's a short walk back to reality - with Toorak Village, transport, the M1 and schools all close by.
The house has been given a rating of 571 out of 1000 by James Buyer Advocates, which puts it in the category of the low end of average. The property is being marketed by <a href="https://www.marshallwhite.com.au/?pagecall=property&amp;propertyID=1797228" title="Marshall White" target="_blank">Marshall White</a> agents Justin Long and Susan McGlashan with price hopes of $3.25 million. It goes to auction on Saturday, August 6 at 12.30pm.
Kristen Hatt is principal buyer advocate of <a href="https://www.james.net.au/rating/8-Blackfriars-Close-TOORAK" title="James Buyer Advocates" target="_blank">James Buyer Advocates</a>. James provides market updates, home ratings and advice on its website.
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A country retreat in Toorak

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The Productivity Commission has unexpectedly recommended the government should reduce the $1,000 GST-free import threshold, but acknowledges this is only a small problem facing the retail sector and says further structural reform is required.

The commission's draft report recommends that state and local governments need to harmonise their laws and reform planning, zoning and retail trading hours restrictions. It also recommends that the Federal Government should review any constraints created by workplace relations regulations.
"Intensified retail competition is a boon for consumers, but it is challenging for a retail industry which, overall, has lower levels of productivity when compared internationally and, in many cases, faces higher costs," says commissioner Philip Weickhardt.
"However, the government's role is not to shield the industry from competition but to remove constraints which restrict the industry in responding to this heightened level of competition."
The overall report acknowledges many problems pressuring retailers including planning and zoning restrictions, pressure within shopping centres on retail tenants and varying regulations on trading restrictions.
It also acknowledges that more people are spending more money on non-retail services, such as property, travel and entertainment.
And while it acknowledges that the current low value import threshold is a "minor part of the competition story", it nevertheless says that the threshold "in principle should be reduced to a low level to ensure tax neutrality".
In a move that is sure to be welcomed by the Fair Imports Alliance, the Productivity Commission also says that current processes for collecting taxes and duties "are not efficient".
"As the threshold is lowered, costs of collection increase significantly – at very low thresholds, (for example $20), the costs of collection would exceed tax revenue by over three to one."
"Such a cost impost on both importing businesses and consumers is unacceptable even without considering additional costs such as delays."
The report also recommends that the government should investigate the current system for processing incoming parcels, "with a view to then reducing the LVT in a cost-effective way".
This article originally appeared on <a href="https://www.smartcompany.com.au/retail/20110804-breaking-news-productivity-commission-recommends-retail-industry-reform-including-reduction-of-gst-free-import-threshold" title="SmartCompany" target="_blank">SmartCompany.com.au</a>
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Productivity Commission recommends retail industry reform including reduction of GST-free import threshold

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{yoogallery src=[images/stories/august2sedger]}
6 Sedger Road, <a target="_blank" title="Dural" href="/news">Dural</a>, NSW, 2158
Set among prize-winning gardens, this five-bedroom, five-bathroom mansion offers elegant rural living with views through to the Blue Mountains. The property includes a tennis court, library with gas log fireplace, cabana with built-in barbecue and second kitchen, solar-heated saltwater swimming pool, home theatre, putting greens and seven-car garage. It is being marketed by <a target="_blank" title="McGrath" href="https://www.mcgrath.com.au/">McGrath </a>agent Elise Lau with price hopes of $5.5 million plus. 
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Stately elegance in Dural

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{yoogallery src=[images/stories/august2piernorth]}
1 Newstead Terrace, <a target="_blank" title="Newstead" href="/news">Newstead</a>, QLD, 4006
The price of this riverfront property with panoramic city views has been reduced from $3 million to $2.4 million. The three-bedroom, two-bathroom property across 400 square metres offers luxury lifestyle extras like smart wiring, top-of-the-range fittings and a concierge. The development has a pool and state-of-the-art gym, and the property has a vast balcony. It is being sold by <a target="_blank" title="Sissons" href="https://www.sissons.com.au/property-Apartment-QLD-Newstead-1672017">Sissons </a>agent John Sheehan. 
 
{module 238}
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Discounted luxury in Newstead

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A new development in the Brisbane suburb of Hamilton will challenge space-spoilt Queenslanders to live in cleverly designed smaller digs.
Foreshore House, being developed by Mirvac, comprises 263 one- and two-bedroom apartments, which range from 50 to 105 square metres.
“What Mirvac have done I think is quite different to what they usually produce in that the size will be smaller,” says Mirvac sales consultant Cecilynne Jurss. “They’re basically designing smaller units that are very liveable. They’re not compromising our quality in any way, but being clever in small space.”
The 145 one-bedroom apartments, which range in size from 50 to 58.5 square metres, begin at $345,000, and pricing for the 118 two-bedroom units, which range from 73 to 105 square metres, starts at $495,000.
Foreshore House will include a swimming pool and communal areas, and Mirvac Queensland chief executive Matthew Wallace says its design was inspired by the tony Soho House in London, which was founded in 1995.
“In the same way as Soho House operates, Foreshore House will be a sanctuary for residents and their families and guests, and in many ways provide an extension to their personal apartment’s living space,” Wallace told the Courier-Mail.
Jurss says the units in Foreshore House will appeal to both owner-occupiers and investors, but Mirvac is focusing on the local, rather than overseas, investor market.
“Rental markets continue to tighten resulting in improved yields for investors. This trend is likely to continue into the foreseeable future with vacancy rates remaining very low,” RP Data head of research Tim Lawless said at a Mirvac-sponsored forum before Hamilton’s launch.
“Unit markets have seen an upwards shift in demand levels as more buyers opt for medium- and high-density living.”
Jurss says the target demographic for Foreshore House ranges from young, single women through to couples with a child and retirees. She says the development will appeal to people who want “everything at their fingertips”, as the suburb of <a target="_blank" title="Hamilton" href="/news">Hamilton </a>has a range of entertainment and retail options.
Construction is expected to begin in January of next year, and is due to finish at the end of 2013.
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New Brisbane development to offer small but 'clever' units

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{yoogallery src=[images/stories/august3lebowski]}
The Dude abides, but not here anymore. The Venice, California property made famous as the abode of Jeff Bridges' stoner The Dude in the 1998 movie The Big Lebowski is up for sale. The property at 606-608 Venezia Avenue comprises six one-bedroom cottages, and fans of the Coen brothers' popular comedy will be glad to know that it has been renovated since that unfortunate rug incident. The cottages have had new roofs and a new sewer line put in, so we guess Jeff Lebowski wouldn't even recognise the place anymore, were his head re-flushed. <a target="_blank" title="Bulldog Realtors" href="https://www.bulldogrealtors.com/pages/property_detail/venezia-606">Bulldog Realtors</a> agents Winston Cenac and Golda Savage are marketing the property as prime for subdividing, with $2,295,000 hopes. 
  
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Big Lebowski house for sale

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{yoogallery src=[images/stories/august2myrtle]}
24 Cross Road, <a target="_blank" title="Myrtle Bank" href="/news">Myrtle Bank</a>, SA, 5064
This period bluestone house on 3,120 square metres features old-world charm and features such as a conservatory, music room, cellar and lilypad-filled pond. It also includes modern amenities such as split-system heating and cooling, a heated in-ground pool and up-to-date Smeg and Miele appliances in the kitchen. The four-bedroom, two-bathroom house is being sold by <a target="_blank" title="Klemich" href="https://www.klemich.com.au/view.php?OID=2783411">Klemich</a> agent Judy Morris with price hopes of $2.55 million plus. 
 
{module 238}
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Bluestone elegance in Myrtle Bank

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New home sales fell 8.7% in June to their lowest level since last September, according to the latest data from the Housing Industry Association, which warns that the industry is at risk if the Reserve Bank decides to raise interest rates tomorrow.
New home sales suffered their heaviest monthly decline in five years in June 2011, providing further evidence of the need to keep interest rates on hold, said the Housing Industry Association, the voice of Australia’s residential building industry.
The latest HIA - JELD-WEN New Home Sales Report, a survey of Australia’s major residential builders, showed that the number of new homes sold in June 2011 dropped by 8.7 per cent, the sharpest monthly decline since May 2006.
The data comes as the auctions market has once again delivered a less-than-impressive result, even with unseasonably warm weather in Melbourne.
HIA chief economist Harley Dale says the result is weak, and that anecdotal evidence suggests that interest and demand for new housing has "hit a wall".
"This piece of empirical evidence supports the anecdotes we've been hearing."
Dale says the industry needs an extended period of steady interest rates in order for building to take off, but that won't occur if the RBA raises interest rates tomorrow, or even during the rest of the year, he warns.
"We've had a forecast for a long time this year that building would be significantly weaker than we saw in 2010, and as I've said before, higher interest rates are just going to add to the risk that it becomes lower than what we're already forecasting."
"What you ideally need is a sustained period of steady interest rates... but that particular outcome looks unlikely because regardless of whether the Reserve Bank hits the button tomorrow, we've got considerable amounts of uncertainty over interest rates."
Dale says the HIA has received an invitation to the tax summit in October, and a representative from the organisation will be attending. He hopes that some sort of benefit for the industry can be achieved, saying that stimulus is needed in order to improve home building levels across the country.
"Are there some stimulus measures the Government could be considering, in the form of boosting new homes, or perhaps looking at accelerated depreciation for rental investment? Should the Government be considering options to reduce risk?"
The calls for stimulus come as a number of companies in the building and construction industry have collapsed, citing poor trading conditions as a major factor.
Dale says this type of support is extremely important, as the evidence suggests that sentiment for housing is dropping, even though interest rates have remained steady since last November.
"The situation for new home building reinforces the importance of getting tangible outcomes from the tax forum in early October. You have a situation where new housing is very heavily taxed, and we're hoping to nut out a way to remove some of those inefficient costs."
This article originally appeared on <a href="https://www.smartcompany.com.au/economy/20110801-new-home-sales-fall-8-7-building-industry-calls-for-tax-reform-at-october-summit" title="SmartCompany" target="_blank">SmartCompany.com.au</a>
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New home sales fall 8.7%, industry calls for tax reform at October summit

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{yoogallery src=[images/stories/august1disney]}
The 1932 French Normandy-style house that was built for Walt Disney is on the market with price hopes of $3.65 million. The mogul's four-bedroom, five-bathroom Los Angeles house at 4053 Working Way is very grand for the time, with leadlight windows, a billiards room, two wet bars, the luxurious rarity (for the '30s) of a swimming pool and a screening room that Disney's studio had built so he could watch dailies of classics such as Snow White, Fantasia, Cinderella and Bambi. We have to say the new owner will be very mouse proud to live in a piece of Hollywood history. 
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Disney's world for sale

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Joel Robinson

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

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]

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.

[smartcode_project:default project_id=135094 project_image_fid=356540]

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.

[smartcode_project:default project_id=150787 project_image_fid=366230]

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.

Cassidy Knowlton

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