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Lot 61 Cape Tribulation Road, Cape Tribulation, Queensland, 4873
On 13 hectares of absolute Daintree River frontage, this beautiful property offers seclusion and natural beauty. The pole house in far north Queensland would be perfect for anyone who wants to move to paradise permanently or who wants a holiday home where the only sounds are the river and the surrounding rainforest. The two-bedroom, one-bathroom house is being sold by <a href="https://www.ljhooker.com.au/portdouglas" title="LJ Hooker Port Douglas" target="_blank">LJ Hooker Port Douglas</a> agent Michael Samson with an asking price of $695,000 plus. 
 
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cknowlton-QnEa6ntUYP

Take me to the river

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Going to a debate about property bubbles is a bit like going to a debate about the existence of God. You know broadly what the arguments will be, but you want to know who is speaking and whether they have any new observations.
 And so it was that the Money Institute in Sydney hosted “The Property Bubble Debate: is it doom and gloom or safe as houses?”
 In the Christopher Hitchens role (there is no God) we had, inevitably, Professor Steven Keen, this country’s most high-profile property market iconoclast.
 As the joke goes, the good professor has managed to pick six of the last three downturns.
 Opposing him, in the Archbishop of Canterbury corner, there was a property developer called Dr Tony Hayek from Blue Wealth Property.
 In between, there were a handful of participants, the most informative of whom was Dr Shane Oliver, AMP’s chief economist.
 One problem with debating the merits of property is that it is such an emotive topic for Australians.
 With one of the highest rates of home ownership in the world, having your own home – at almost any price – is a cultural imperative against which it is almost impossible to rationally argue. It is also proof that economics is not always a rational science.
Hayek, the first speaker, said he wasn’t going to show any graphs or statistics, because that was the job of the other panellists.
However, he did show us photos of houses in Concord and Harris Park, NSW, that he said had gone up in value in the past few years.
 Fortunately, Keen had a slightly broader view. The University of Western Sydney academic said that conventional wisdom had it that “population pressures drive house prices, but that’s wrong. It is money pressure which drives house prices.”
 Australian banks have financed a bigger bubble here than in the US, he said.
“It’s the biggest debt-financed asset bubble in human history, and I’m afraid you ignore it to your peril.”
Oliver began his talk by saying that any negative remarks about the property markets didn’t apply to the northern beaches suburb of Avalon, NSW, because that was where he owned a house. In general, house prices were this country’s “Achilles Heel,” he observed. 
In 1987 the housing market soared following the sharemarket crash, and the Australian market recorded much bigger gains than the UK and the US. Although the Australian market is overvalued, the indications of a bubble were missing, he said.
Interestingly, buyer sentiment about property as an asset class has changed. In the mid-1990s approximately 50% of Australians surveyed on this topic thought that real estate was a better place for their savings than other asset classes, Oliver said. Now, only 15% are property true believers, and the rest think they would be better off putting money into bank deposits and paying off debts.
Housing affordability is a huge issue in this country, the economist said. To buy an average-priced house in Australia takes six times the annual disposable income, whereas in the US is just three times that figure.
For instance, the average house price is Sydney is $634,000 while in Los Anegles, which has similar household incomes, it is $346,000. The Perth average house costs $480,000 and Austin Texas, $189,000. Housing rental yields here were about 3% and commercial property about 8%, the economist said.
Oliver then analysed the issue of why Australian property was so much more expensive than its equivalent in the US.
The first reason was that Australians spend less on healthcare than Americans, which means that they have more money in their pockets to spend on housing. The other factors are a greater supply of credit here and an under-supply of housing.
Currently, there is a shortfall of 200,000 to 230,000 dwellings; we should be building 180,000 to 200,000 dwellings every year and we are building less than that, he said.
In conclusion, the economist said that the main risks for the property market were a large number of land releases by government, the collapse of the Chinese economy and a rise in interest rates. Housing affordability was “terrible” and auction clearance rates were trending low, he said.
“My summary would be that prices are overvalued. It’s not a bubble, but we are very vulnerable if anything goes wrong.”
After the presentation, on the way back to the office, I went into a shop to look at a $330 pair of shoes I had just purchased over the internet for $70, plus postage. As I can now buy everything I want with an iMac and a credit card, I wondered: what is the future of retailing property? Buy FedEx.
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Property high priests square off over housing bubble

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11 Forrest Hill Grove, Lysterfield South, Victoria
Directly adjoining Lysterfield Lake state park, this six-bedroom,two-study property has style on a grand scale. It has all of life's luxuries, including underfloor heating in the lounge room, a tennis court, a home theatre, a spa ensuite in the main bedroom, an indoor heated swimming pool and a gymnasium. The property is listed by <a href="https://www.ljhooker.com.au/E31GJW" title="LJ Hooker Rowville" target="_blank">LJ Hooker Rowville </a> agents Stan Makantasis and Craig Kelly with an asking price of $2.35 million plus. The property comprises 1,667 square metres of land and includes guest accommodation.
 
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Grandeur and style

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Sails, Hope Island, Queensland
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On 5371 square metres of land, this Hope Island stunner has seven bedrooms, 176 metres of shoreline and a jaw-dropping décor. From the elegant stone lions on either side of the doorway through to the striking black marble bathroom and high-celinged purple lounge room with 180-degree views of the canal, every aspect of the property can only be described as opulent. The 10-seat theatre, beach hut by the pool and large open entertaining areas are popular spots for parties, and the commercial kitchen makes entertaining easy. The 2700-square-metre house is being sold by Ruth Fea of <a target="_blank" title="Hum&amp;Fea" href="https://www.humfea.com.au/">Hum&amp;Fea</a> with an asking price of $19 million plus.  
 
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Hope Island paradise

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The Government of Singapore Investment Corporation has purchased three industrial properties on Australia's east coast as part of a joint investment venture with Australand Property Group.
Logos Property bought two distribution centres in Melbourne and industrial park in Brisbane on behalf of GIC in a $90 million deal, the Australian Financial Review has reported. One of the Melbourne centres is leased to US foods giant Kraft, and the other to Australian clothing manufacturer Pacific Brands. The deal is part of a plan by the partnership to acquire a $450 million property portfolio.
The news comes less than a week after an announcement that Australian trucking and logistics company Linfox has signed a $40 million 10-year deal for a 27,000-square-metre logistics and distribution centre at Goodman's Stockyards Industrial Estate in Hazelmere, a suburb of Perth. The eight-hectare site will cater to the distribution needs of Western Australia's mining industry.
Logos Property executive director told the AFR distribution centres and industrial properties generally were good value for investors.
"We remain focused on major logistics operators in prime locations around Australia," he is quoted as saying. "We continue to see good deal flow in the Australian industrial market."
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Singapore Government and Linfox look to distribution centres

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The tallest building in North America, Chicago's Willis Tower, formerly the Sears Tower, is on the block, with its owners searching for a buyer or investor.
The 108-storey building is 18% vacant, and a source told <a target="_blank" title="The Wall Street Journal" href="https://online.wsj.com/article/SB10001424052702304563104576360052007317060">The Wall Street Journal </a> that owners would be willing to consider either a sale or recapitalisation.
The 442-metre building is owned by a consortium including New York-based investors Joseph Moinian and Joseph Chetrit and American Landmark Properties, which bought the property for US$841 million in 2004.  It is one of the most popular tourist attractions in Chicago, drawing an average of 1.5 million people a year to its Skydeck.
The tower, with a total enclosed area of approximately 424,000 gross square metres, has a rentable area of 353,000 square metres. Its antennas soar to 527 metres.
Designed by architects Skidmore Owings and Merrill, the 1973 tower was originally the headquarters of Sears Roebuck and Co, which moved to Illinois in the early 1990s. 
Within the building, there are 45 kilometres of plumbing, 2,414 kilometres of electric wiring, 130 kilometres of elevator cable, and 145,000 light fixtures. The building cost more than US$175 million to build.
In 2009, the owners negotiated a naming rights deal with London-based Willis Group Holdings, which moved 500 employees into 13,000 square metres at US$156 per square metre.
It could be difficult to find a buyer for the landmark building, however, as the GFC hit the United States hard and the economy is struggling to recover. Last week's residential housing figures revealed that <a target="_blank" title="US housing hits new low" href="https://www.propertyobserver.com.au/news/in-brief-charter-hall-could-lose-15-of-earnings/2011060150363">residential prices in the United States have fallen further than they did during the Great Depression</a>.
It will not remain the tallest building in North America for long, however, as the partially completed Freedom Tower at One World Trade in New York will be 105 storeys and 541 metres tall. Freedom Tower, which <a href="https://www.propertyobserver.com.au/news/magazine-empire-to-rent-one-third-of-one-world-trade/2011053050347" title="Conde Nast signs lease for One World Trade" target="_blank">recently signed its first major tenant, magazine empire Conde Nast</a>, is expected to be completed by early 2014. 
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Chicago's Willis Tower on the market

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Receivers acting on behalf of the ARK Fund are reported to be selling strawberry farms in Queensland for almost 40% less than what the delisted agricultural investment company paid for the properties in 2007.
ARK bought the properties north-west of Caboolture for $11.2 million four years ago, and sources have told the Australian Financial Review that they are likely to be sold for about $7 million.
The fund went into receivership in June 2010, after ceasing trading four months earlier, in February 2010. ARK tenant Rewards Group, which has now also collapsed, failed to pay rent on any of the 32 properties it leased from ARK, which began the fund's money woes, according to The West Australian.
When ARK purchased the strawberry farms, it issued a statement to shareholders saying that the properties had potential for subdivision and residential development becuase they were within the "under investigation" area of the South East Queensland Regional Plan.
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ARK gets sour deal on strawberry farms

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Residential tenancy legislation Residential tenancies in ACT are governed by the <a target="_blank" href="https://www.legislation.act.gov.au/a/1997-84/default.asp" title="Residential Tenancies Act">Residential Tenancies Act 1997</a>, and the ACT government has produced a <a target="_blank" href="https://www.courts.act.gov.au/magistrates/tribunals/rtt/renting%20book%20text.pdf" title="Guide for tenants and landlords">useful guide for tenants and landlords</a>.
Further information for residential landlords The ACT government has produced a<a target="_blank" href="https://www.ors.act.gov.au/FairTrading/pdfs/Industries/Guides/Renting_book_2007.pdf" title="Guide to renting"> guide to renting</a>.
Dispute resolution for residential tenancies The <a target="_blank" href="https://www.acat.act.gov.au/" title="ACT Civil and Administrative Tribunal">ACT Civil and Administrative Tribunal</a> handles disputes relating to residential tenancy.
Further resources The <a target="_blank" href="https://www.reiact.com.au/custom.asp" title="Real Estate Institute of ACT">Real Estate Institute of the Australian Capital Territory</a>, <a target="_blank" href="https://www.poaa.asn.au/act/index.htm" title="Property Owners Association of ACT">Property Owners Association of Australian Capital Territory</a> and <a target="_blank" href="https://www.ntd.net.au" title="National Tenancy Database">National Tenancy Database</a> are also resources available to landlords.
Commercial tenancy legislation Commercial leases in ACT are subject to the <a target="_blank" href="https://www.legislation.act.gov.au/a/2001-18/current/pdf/2001-18.pdf" title="Commercial Leases Act">Leases (Commercial and Retail) Act of 2001</a> and are regulated by the <a target="_blank" href="https://www.ors.act.gov.au/fairtrading/index" title="Department of Regulatory Services">Office of Regulatory Services</a> within the Department of Justice &amp; Community Safety. The ACT government has produced a g<a target="_blank" href="https://www.ors.act.gov.au/bil/pdfs/Industries/Guides/Leases_Handbook.pdf" title="Guide to retail tenancy">uide to retail tenancy</a>.
Dispute resolution for commercial tenancies Disputes regarding commercial tenancy in ACT should be taken to the <a target="_blank" href="https://www.courts.act.gov.au/magistrates/index" title="ACT Magistrates Court">ACT Magistrates Court</a>.
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Useful links for landlords in the Australian Capital Territory

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Residential tenancy legislation The <a target="_blank" href="https://notes.nt.gov.au/dcm/legislat/legislat.nsf/d989974724db65b1482561cf0017cbd2/d51f653aa04ebbfc6925784d00004c80?OpenDocument" title="Residential Tenancies Act">Residential Tenancies Act 1999</a> and <a target="_blank" href="https://notes.nt.gov.au/dcm/legislat/legislat.nsf/linkreference/residential%20tenancies%20regulations?opendocument" title="Residential Tenancies Regulations" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Residential Tenancies Regulation 1999</a> relate to residential tenancies in Northern Territory.
Further information for residential landlords The Northern Territory government’s <a target="_blank" href="https://www.nt.gov.au/justice/consaffairs/documents/GuideToRentingFeb2011.pdf" title="Guide to renting">guide to renting</a> is a useful guide for information about residential tenancy, and the government’s <a target="_blank" href="https://www.nt.gov.au/justice/consaffairs/res_tenancies.shtml" title="NT government website">residential tenancy website</a> can also be helpful.
Dispute resolution for residential tenancies The <a target="_blank" href="https://www.nt.gov.au/justice/consaffairs/res_tenancies.shtml" title="Residential Tenancies Department">Residential Tenancies Department</a> within the Department of Consumer and Business Affairs  handles disputes relating to residential tenancies.
Further resources The <a target="_blank" href="https://www.reint.com.au/" title="Real Estate Institute of Northern Territory">Real Estate Institute of Northern Territory</a>  and the <a target="_blank" href="https://www.ntd.net.au" title="National Tenancy Database">National Tenancy Database</a> are further resources.
Commercial tenancy legislation Commercial tenancies in Northern Territory are regulated by the <a target="_blank" href="https://www.retaildevelopment.com.au/pdf/NT.pdf" title="Commercial Tenancies (Fair Dealings) Act">Commercial Tenancies (Fair Dealings) Act 2007</a>.
Dispute resolution for commercial tenancies The <a target="_blank" href="https://www.nt.gov.au/justice/consaffairs/business_tenancies.shtml" title="Department of Consumer Affairs">Department of Consumer Affairs</a> handles disputes relating to commercial tenancies.
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Useful links for landlords in the Northern Territory

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Residential tenancy legislation The legislation relating to residential tenancies in Tasmania is the <a target="_blank" href="https://www.thelaw.tas.gov.au/tocview/index.w3p;cond=;doc_id=82%2B%2B1997%2BAT%40EN%2B20050111130000;histon=;prompt=;rec=;term=" title="Residential Tenancies Act">Residential Tenancies Act 1997</a>, and the Tasmanian government has<a target="_blank" href="https://www.magistratescourt.tas.gov.au/divisions/civil/residential_tenancy/property_owners" title="Information for landlords"> information on its website for landlords</a>.
Dispute resolution for residential tenancies The <a target="_blank" href="https://www.consumer.tas.gov.au/renting/disputes" title="Tasmanian Retail Tenancies Commissioner">Residential Tenancies Commissioner</a> handles disputes regarding residential tenancies.
Further resources Other helpful resources include the <a target="_blank" href="https://www.reit.com.au/" title="Real Estate Institute of Tasmania">Real Estate Institute of Tasmania</a> and the <a target="_blank" href="https://www.ntd.net.au/" title="National Tenancies Database">National Tenancy Database</a>.
Commercial tenancy legislation The <a target="_blank" href="https://www.austlii.edu.au/au/legis/tas/consol_reg/ftopfrtr1998511/s4" title="Code of Practice for Retain Tenancies">Code of Practice for Retail Tenancies 1998</a> is the relevant legislation for commercial tenancies.
Dispute resolution for commercial tenancies The <a target="_blank" href="https://www.consumer.tas.gov.au/real_estate/retail_tenancy1" title="Office of Consumer Affairs and Fair Trading">Office of Consumer Affairs and Fair Trading</a> offers dispute mediation , and either party may refer a dispute to the <a target="_blank" href="https://www.magistratescourt.tas.gov.au/divisions/civil" title="Magistrates Court">Magistrates Court</a>.
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Useful links for landlords in Tasmania

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

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.

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.

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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.

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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.

Cassidy Knowlton

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