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The ‘Sydney Property Market’ is often referred to just like that:  a three word headline meant to encompass all suburbs, properties, demographics, sales and rentals. It’s about as realistic as saying that all Australians are called Barry, drink beer, love sport, wear bucket hats and zinc cream.
I mention this because I was talking to our leasing team last week about the impact of the sustained strength in the sales market on rental availability. It would be easy to say that it’s great out there right now but beware of the blanket generalisation.
With investors so active in the current market there is an expectation that more rental properties will become available, easing what has been reported as a ‘rental crisis’ across the city.
Yes that is the case, but it isn’t that simple. It continues to be very patchy and as always it comes down to the maths. The devil is in the detail.
Along the north shore there is a steady stream of new build developments coming onto the market which has expanded the supply of rental properties available. Demand is there but with such a selection available the rental returns have become more competitive. Landlords will secure a tenant if they pay attention to the market and price it right.
In other areas, specifically around the CBD and fringe suburbs investors are certainly active but the price premium for a CBD property is reflected in rents which in turn has an impact on the level of demand.  
Again, even at the premium end of the market landlords need to be mindful to price their property correctly.
Anyone who has studied even basic economics would know the principle of supply and demand. As one increases – the other decreases until a point of equilibrium is reached. Which is why the numbers delivered in the current property market are so extraordinary.
The Cooley Index for February reveals some amazing statistics: A total of 302 properties going to auction with an average of 5.5 registered bidders delivering a clearance rate of 81% and 76% selling above reserve. Wow!
Now look at those numbers in comparison to the same period last year when there were only 171 properties taken to auction with a 68% clearance rate and 59% of those achieving prices above reserve.
What we’re seeing is an increase in supply as vendor confidence in the sustainability of the market has grown.  And rather than dilute demand the additional listings have been met by stronger buyer interest.
The number of registered bidders at auction is another interesting gauge of market strength. While there can only be one buyer the fact so many parties are revealing a very serious intent to purchase bodes well for the months ahead. That’s because losing bidders don’t automatically drop out of the market, rather they remain on the hunt, more determined to secure the next property.
It seems everyone is coming out to play.
 
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The Sydney property market: The devil is in the detail

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QANTAS is dominating the headlines with results that are as bad as many expected, but nobody wanted to hear. Discussion has inevitably turned to how to save the airline, with the PM controversially advocating removing the restriction on foreign ownership of the airline. It is a debate that feels eerily familiar and I fear has no easy conclusion.
The connection between aviation and property isn’t immediately obvious, until you consider the heated debate that rages whenever the prospect of ‘foreign ownership’ looms large.
In real estate emotions run hot whenever reports emerge that Chinese buyers are outbidding Aussie mums and dads, driving domestic property prices out of reach of the masses. It seems that same level of emotion is bubbling around QANTAS, Australia’s national airline.
I have no problem with national pride and a desire to retain national assets, except often emotion and reality collide.
In property vendors are always seeking the best possible price. Naturally. In the global market these days there is a good possibility that might mean selling to an overseas investor. Let’s be clear -  I have never had a vendor stipulate the sale must only be to an Australian national.
In aviation travellers want to fly with an airline that is safe and inexpensive. But the reality is global competition has delivered a wide selection of airlines delivering equivalent service and safety to QANTAS. How many of us choose QANTAS because it is our national carrier if there is a more affordable alternative?
Perhaps that’s why the push is for governments to impose restrictions and regulations to restrict foreign ownership.  It removes the need for individuals to make those decisions.
Ewan Morton is managing director of the Sydney based <a rel="nofollow" href="https://www.mortonandmorton.com.au/" target="_blank">Morton &amp; Morton</a>. 
                           
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Domestic or international? The parallels between QANTAS and property

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If you’re as obsessed with property as I am you might have noticed the steady stream of media stories announcing with incredulous fanfare another premium listing with double digit price tags.  
Looking at the pictures is probably as close as most of us can get to an episode of Lifestyles of the Rich and Famous (does anyone else remember that show?). But aside from an opportunity to have a sneak peak at what $20, $30 or $50 million might buy you, are there any similarities between that premium market and the ‘everyday’ property market?
Two things:
One. Price it right. Even at the very pointy end of the market buyers will not overpay. Whilst you might think someone able to drop $30 million on a property would probably be prepared to pay $40 million, you’d be wrong. At the high end of the market, and at the low end, and at all points in the middle buyers will pay only what they consider to be the realistic value of a property. And all buyers will always be looking to make a deal!
Two. You’re not just selling a property. In real estate today you’re selling a lifestyle so the little extras can make a big difference and your marketing photos are vital. Those with big budgets will be looking for a wine cellar, parking for several cars and perhaps accommodation for staff. Families with more modest amounts to spend will want off street parking, a playground nearby and a great laundry to store wet clothes and muddy boots. 
Both are simple, relatively obvious points, but they matter. They are as important to remember for vendors hoping for a $50 million return as those hoping for $500,000.
Records
I’ve been watching the Winter Olympics. Lots of sport I’ve never heard of, rules I have no hope of understanding but skills I find amazing. And then there are the records! There seem to be records for everything and anything these days, real estate included.
At the Winter Olympics there have been record times in speed skating, scores in the ice dancing, and even an age record with the oldest ever winner of a Gold Medal awarded this week. In the property market the records are clearance rates, interest rates, listing rates and prices.
It makes me wonder. Does the focus on the pursuit and glory of a 'record' dilute the value of achievements where a record is not set or broken?
In the school playground there has been a backlash against the practice of ‘every child gets a ribbon’, claiming it devalues the lessons of competition and creates an unrealistic expectation that everyone is a winner.
I think property records can be interesting, but they're really quite irrelevant because it is true that not everyone is a winner. 
Think about it for a moment. A record price achieved in a particular street or suburb does not automatically mean the same result can be expected for every property. It is an indication of what could be achieved but it can't be taken as automatic.
Just like Usain Bolt breaking the world record in the 100 metres doesn't make the rest of us faster!
Ewan Morton is managing director of the Sydney based <a target="_blank" href="https://www.mortonandmorton.com.au/" rel="nofollow">Morton &amp; Morton</a>.
            
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What does the top end of the market have to do with the rest of us?

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Already the ‘boom 2014’ forecasts have been replaced by some predictions of doom. The fear is investors are leaving the market. Well that's certainly not how I read it as we continue to see buyers making enquiries for potential investment properties. Feeding into that is the fact that we also continue to see pretty good demand for rental properties. However, I think it’s worth noting how easily the whisper of a bump in the market can start everyone talking and asking questions. It’s a reflection of the Australian obsession with property but talk alone doesn't make it true. Be careful not to jump at shadows. Our team spends a huge amount of the day talking and when reports surface of negative trends like investors retreating phones run hot. In recent days I've repeatedly said the same thing. Look at what's actually happening now. It's OK out there and I think the fundamentals are there for a good year ahead.
We’ve already had a busy January but it really isn’t until February that people are forced to return to the reality of everyday school and work routine. So the next couple of weeks will be very interesting.
The question is will there be a jump in activity as those people who have successfully escaped over the holidays return and refocus on buying and selling?
I think it’s highly likely.
For example as well as those who took a break from the property hunt over the holidays, I anticipate even more than in past years there will be new players who enter the market having used the break to prioritise and make plans for 2014. The overall economic outlook is simply more secure than the same time last year.
That’s why our team continue to predominantly recommend vendors take their property to auction. The demand is there.
And at the moment we are also increasingly recommending vendors let the auction campaign run through to completion rather than potentially consider even a healthy pre-auction offer.
Again the demand appears to be there so let’s see what happens.
Ewan Morton is managing director of the Sydney based <a target="_blank" href="https://www.mortonandmorton.com.au/" rel="nofollow">Morton &amp; Morton</a>.
 
 
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The year has started and the demand appears to be there

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I think now is the time to issue a bit of a warning. This week we have hit the point where I anticipate the market will start to slow down a little.
Now don’t panic. I am not saying it will drop, nor will it stop, but the frantic pace of recent weeks will fall away.
With less than a month until Christmas it is inevitable that for some potential buyers the focus will shift from house shopping to Christmas shopping. Those people will have decided it is just too hard to keep pushing to find the perfect property before the holidays.
But as I said, for vendors it isn’t time to panic.
The market is solid right now. Even if a percentage of buyers withdraw there will remain a healthy percentage who will continue to engage in the hope they can secure a new house for Christmas, even if they can’t move in.
We have several auction scheduled over these last weeks before Christmas and interest is good.
Prices have been strong but not ridiculous which isn’t a bad thing as it reflects a very solid market platform.  With a few less vendors in the mix prices should hold, delivering a happy outcome for pre-Christmas buyers and sellers.

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Ewan Morton is managing director of the Sydney based <a rel="nofollow" href="https://www.mortonandmorton.com.au/" target="_blank">Morton &amp; Morton</a>.
 
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Market is solid, but prepare for a Christmas slowdown

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They're back. Investors have returned to the market and with that comes a need to make some key decisions. The biggest is probably; do you or don't you? I'm talking about property management.
I see it as the DIY dilemma of real estate. 
Think about it. You decide to retile the bathroom. You get a quote from a professional tiler. You have a heart attack. You decide it can't be that hard. You will do it yourself for half the price.
Uh oh. Fast forward three months. You've had more trips to the hardware store than you can count, a trip to hospital and the cost of the project is already in line with the quote you laughed at....and it still isn't finished.
It can be the same with property management. You get a quote from an agent and decide 'it can't be that hard. I'll save money and do it myself.'
But just as not everybody can conquer the DIY renovation, the same is true of property management.
It's much more than securing a good tenant and ensuring the rent and bills are paid. There is the slightly tedious reality of always being on call to manage any maintenance and tenant issues. Then there are the countless 'other' issues that come when dealing with people, personalities and property and it's when the inevitable, unexpected, sometimes the truly unbelievable, happens that the DIY owner will be left wishing they had left it to the experts.
 
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 Ewan Morton is managing director of the Sydney based <a rel="nofollow" href="https://www.mortonandmorton.com.au/" target="_blank">Morton &amp; Morton</a>.
 
 
 
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Property management: Should you do it yourself or leave it to the experts?

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This week my words of wisdom are to ‘be careful’ because there is a lot going on out there right now in real estate land.
It is exciting to see investors back in the market. It’s great to see auction clearance rates at continuing record levels and our team is achieving great results across the high end apartment mark.
The momentum is definitely there and if you needed any further confirmation you can tell the Sydney market is strong when the newspapers start headlining talk about a crisis in housing affordability!
But after weeks of going gangbusters we are now starting to see a little bit of pull-back. Nothing dramatic but certainly there is not quite the same level of interest out there as we were seeing even a couple of weeks ago. I think we have hit a little speed bump.
I think some buyers are a little spooked by property hype. Add to that a percentage of buyers who have determined it will require too much effort to meet a pre-Christmas deadline so have decided to wait until the new year. That means there are less active buyers out there right now.
The market is without doubt still strong but a speed bump does slow things down a little and it is another timely reminder for sellers to remain realistic and to consider sensible offers.

<hr>
Ewan Morton is managing director of the Sydney based <a rel="nofollow" href="https://www.mortonandmorton.com.au/" target="_blank">Morton &amp; Morton</a>.
 
 
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Has the market hit a speed bump?

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This time last month I wrote that we had reached what I called the <a target="_blank" href="https://www.propertyobserver.com.au/landlords/we-ve-reached-the-tipping-point-of-a-balanced-rental-market-ewan-morton/2013091264962">delicate rental market tipping point</a>. I said it would be fleeting and it appears I was right. That moment when rents and mortgage outlay are in line has passed. Figures released over recent weeks highlight house prices in Sydney jumped 2.5% in September with a 10% growth overall so far in 2013. Compare that to figures released by APM yesterday showing average Sydney house price rents haven't moved over the last 12 months and predictions are they will remain stable for much of the year ahead. That's great news if you're renting.  For those in the market to buy it is an interesting revelation. It's certainly another reason not to get caught up in talk of the market going gangbusters, and while it might sound gloomy I think investors should factor in a uniform rental return when doing their numbers on the value of a potential rental property. Better to be happily surprised rather than financially squeezed.   However it is also good to remember that those numbers are the average and there are pockets where rental demand is strong. We manage a large number of properties in and around Pyrmont where demand continues to outstrip supply so rental return is very healthy. If you are a potential investor don't be discouraged but do be discerning.
 
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 Ewan Morton is managing director of the Sydney based <a target="_blank" href="https://www.mortonandmorton.com.au/" rel="nofollow">Morton &amp; Morton</a>.
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Moment when rents and mortgage outlay are in line has passed: Ewan Morton 

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I’ve got a sneaky suspicion that what many people have worried might be a ‘bubble’ is actually just the pop of pent up demand.
Think about it. It’s an undeniable truth that in Australia, and particularly Sydney, we’re obsessed with the property market. In recent years that obsession hasn’t waned but, like a child desperate to ride a roller coaster, we have been too scared to jump on.
Now we’re a bit older and wiser. The potential ups and downs are not quite so scary and we’re ready to go.
But why such a significant spike in demand over recent months? Some might argue that it is in response to interest rates, others to the federal election and change of government fuelling traditional spring demand.
While I think all those factors have played a role the other key point that is often overlooked is the power of the positive trend. It could be a little unkind but you could see it as the ‘sheep factor’. I’m sure you know what I mean. Buyers and sellers don’t necessarily want to go first and test the market but once somebody has taken that plunge with a positive result nobody wants to miss out.
A couple of months ago I was calling for potential vendors to have faith and list their property because demand was there and supply was very low. It was worth it and continues to be worthwhile as demand has increased over and above supply.
 
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 Ewan Morton is managing director of the Sydney based <a target="_blank" href="https://www.mortonandmorton.com.au/" rel="nofollow">Morton &amp; Morton</a>.
 
 
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Follow the leader, pent up demand behind the rise of Sydney market: Ewan Morton

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The property market is on the rise and so is the inner city building boom. As off-the-plan apartment sales attract investor attention what does that mean for existing property price potential?
It can mean everything and nothing.
By ‘everything’ I mean that the increase in brand new apartments coming onto the market could obviously potentially decrease the value of existing property in the area. It isn’t a great story to be telling as a real estate agent but it’s undeniable that many people will say "why buy an old one if there is a brand new one available?"
That’s the obvious and worst case scenario. It’s the concern I’ve encountered regularly when talking to investors whose property we manage in and around Pyrmont in particular. Should they get out now?
My response is that new apartments could also mean ‘nothing’ to the value of existing property.
It’s important to remember the apartment building boom is a reaction to carefully calculated and evaluated prospective growth in demand. That means demand for new apartments will not automatically cancel out demand for those already built.  Also, for existing properties in Pyrmont and the CBD significant value is invested in their prime location which will not decline.
It means there will be more choice but the anticipation is there will be more people looking.
My advice to landlords is to ensure their property is well maintained so it remains competitive in both in the rental and sales market.  It can be more cost-effective to undertake smaller, regular upgrades to keep fixtures and fittings top class and top quality.
I suppose what I am saying here is the shiny new play thing might capture a lot of attention but don’t underestimate the inherent value of elegance and sophistication; virtues that increase with age.
 
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 Ewan Morton is managing director of the Sydney based <a target="_blank" href="https://www.mortonandmorton.com.au/" rel="nofollow">Morton &amp; Morton</a>.
 
 
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Inner city building boom will not automatically cancel out demand for existing properties: Ewan Morton

A long-stalled Mermaid Beach development site opposite Pacific Fair, previously earmarked for a twin-tower project, is set for a fresh development push with plans for a major mixed-use residential tower.&nbsp;

Billionaire garbo Ian Malouf's development company, REMI Residences, is proposing Project Elegance, a 44-storey tower with over 270 residential apartments and 88 short-term accomodation units at&nbsp;2065 Gold Coast Highway, Mermaid Beach, on the corner of Mermaid Avenue.

Malouf paid $23.76 million for the 3,783 sqm site in 2022, six years after it traded for $34.1 million when it was bought by Hubei United Investment Group.

 
<img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="" data-entity-uuid="" data-widget="image" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20podium.png?VersionId=yRYSSPItvCA5ZeQ49LlwkQYVn7OhEqIC" /><img alt="" data-entity-type="" data-entity-uuid="" draggable="true" height="15" role="presentation" src="data:image/gif;base64,R0lGODlhAQABAPABAP///wAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==" title="Click and drag to move" width="15" />

&nbsp;

The design statement by DKO says Project Elegance "represents a holistic response to its coastal and urban context. It draws upon site, climate, and landscape to create a composed architectural outcome that prioritises occupant experience, public interface, and long-term viability via vibrant and active uses."

They say the subject site&nbsp;occupies a distinctive island parcel with three street frontages and prominent visual exposure to passing visitors.

"This unique position allows the development to form a panoramic dialogue with water and city, setting the foundation for a climate-responsive, site-specific architectural expression.&nbsp;The podium base, inspired by the region’s sandstone headlands and coastal setting, and adopts a sculpted and grounded character that provides a stable counterpoint to the slender tower above."

&nbsp;

<img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="file" data-entity-uuid="4f088e10-6493-49d4-83cd-10fc039318ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20tower.png?VersionId=Sbglj0tNBqyvY5V_DlVH.bvjXi8kBbfl" />

Residents and guests would have access to multiple communal recreation levels. Plans include a shared recreation deck on level six, with a pool and three padel courts. There will be a residential-only pool on level seven, and an upper-level communal space only accessible by those buyers towards the top of the tower.

&nbsp;

Ground-floor commercial spaces are proposed to operate between 5am and midnight, contributing to an activated street frontage along the busy Gold Coast Highway corridor.

The site sits within the High Density Residential zone and a Light Rail Urban Renewal Area, where planning policy encourages higher-density development close to transport infrastructure and services. The planning report states the project aims to “ensure the efficient reuse of this centrally located property” and support the transformation of inner-city areas into “more vibrant, compact, interesting, connected and active” precincts.

&nbsp;

The proposal marks the latest attempt to unlock the high-profile parcel, which previously carried approval for the “Elegance” twin-tower development, a project that included more than 500 apartments but ultimately stalled after sales activity ceased in 2019.

REMI Developments has been increasingly active in the Gold Coast property market, with the Malouf-led group positioning itself around premium residential and lifestyle-focused projects as the region continues to attract both interstate buyers and international interest.

Malouf is one of Australia's most impressive entrepreneurs, having sold his waste business fore more than $500 million, having started only with a small truck at 18 years old.

Joel Robinson

First Look: Billionaire Ian Malouf plans Mermaid Beach tower

A State Significant Development proposal from Ecove Group could see two high-rise residential towers developed above an ALDI-anchored retail podium in Gordon.

The 28-storey towers, dubbed Eight 10, would become the tallest in the sleepy Upper North Shore suburb, which has been stirred by changes to the Low to Mid-Rise Housing Policy aimed at triggering greater density around transport hubs.

Ecove Group’s plans for 810 Pacific Highway, a 2,357 sqm site around 400 metres from Gordon railway station, include 180 apartments, 39 of which would be dedicated as affordable housing.

Architecture firm PBD said in its Design Report the site "presents an exciting opportunity to positively contributes to the surrounding context, enhances the overall urban experience."

<img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="e50141fa-fb0b-44b3-bf9b-c6d87b993c3b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20podium.png?VersionId=YTgQPBxNnmQwr6x2AJSpVZ1COqa.9oLQ" />

The site previously received approval for a development comprising 56 apartments above retail in 2018.

PBD noted in its report that the planning&nbsp;context for the site has "evolved significantly since the original consent was issued."

In April 2024, the Department of Planning, Housing and Infrastructure (DPHI) identified the site as being located within a Transport Oriented Development (TOD) precinct. In parallel, Ku-ring-gai Council progressed a preferred planning framework for Gordon Town Centre, including proposed amendments to the Ku-ring-gai Local Environmental Plan 2015 (KLEP 2015).

<img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="cf65fb26-a163-41ea-a4d3-8ddbeabd67e4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20MAP.png?VersionId=vrQJzXSg3xRH.APBmtth5mA2adPmUPjc" />

PBD said the proposed development "responds to the amended KLEP 2015 and, in addition, seeks to utilise the floor space ratio and height incentives available under Chapter 2, Part 2, Division 1 of the State Environmental Planning Policy (Housing) 2021."

Late last year the first project in Gordon through the NSW Government's Housing Delivery Authority was approved. That was for 106 apartments across two connected seven to eight-storey buildings.

Ecove plans 28-storey apartment towers in Gordon

<a href="https://www.apartments.com.au/developers/graya">Graya</a> has set its sights on one of Brisbane’s scarce remaining riverfront development opportunities.

They have spent $17 million on an 810 sqm site across 16-18 Sandford Street, where it is planning SILK, a 15-storey apartment tower with just 22 apartments.

Planning documents outline a single tower designed to take advantage of the site’s northerly outlook toward the river and Brisbane CBD.

There will be eight two-bedrooms and 14 three-bedroom apartments on offer, each either half- or full-floor.

<img alt="Graya" data-entity-type="file" data-entity-uuid="059e1aa4-695c-4556-bafa-e8b5970c06f5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.07.50%E2%80%AFPM.png?VersionId=tEqwv_m8HYhrXSCStOMFHvGZZ5WgKfEx" />

&nbsp;

According to the Town Planning Assessment, the proposal "showcases a high quality architectural and landscape design outcome that is enhanced by the amenity of the Brisbane River… and provides a subtropical design response that celebrates Brisbane’s climate and lifestyle.”

Ground level includes landscaped communal areas facing the river alongside a gym and outdoor garden space, while the rooftop terrace will feature multiple leisure amenities like swimming pools,&nbsp;dining and barbecue facilities, as well as outdoor relaxation and yoga spaces.

<img alt="Graya" data-entity-type="file" data-entity-uuid="93982dbb-9f27-409b-a319-bd6f458f9ea7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.09.05%E2%80%AFPM.png?VersionId=gCaaW82pEBxMvXkVkEm4TC_o7_UXA82p" />

Architecturally, the tower form draws inspiration from the movement of water along the river edge. Design documentation describes the building as “a form sculpted by flow, shaped by shifting water,” with curved forms, varied materiality, and sculptural elements used to soften the building’s visual bulk. Sandstone, an iconic material throughout St Lucia, is reinterpreted through a mix of refined and split-face textures across the façade.

The Sandford Street frontage is intended to present an articulated façade featuring vertical landscaping and sculptural architectural elements, helping the tower integrate with the evolving high-density character of the riverfront strip while maintaining visual interest from both the street and river corridor.

Graya has continued to expands its footprint across South East Queensland, with projects under construction across both Brisbane and the Gold Coast.

GRAYA unveils plans for SILK in St Lucia

Less than five months after submitting plans to redevelop the former Cadbury office on St Kilda Road into a luxury apartment tower, development giant <a href="https://www.apartments.com.au/developers/dexus-property-group">Dexus</a>&nbsp;has been given ministerial approval to push on with the project.

Apartments.com.au <a href="https://www.apartments.com.au/news/vic/first-look-dexus-joins-st-kilda-road-apartment-ranks-with-gateway-tower-proposal">revealed the plans in October last year</a>.

The approved project will see the 19-storey office building at 636 St Kilda Road replaced with a <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>-designed tower delivering more than 400 new apartments at the prominent intersection of St Kilda Road and Queens Road.&nbsp;

The design responds to the site’s gateway position at St Kilda Junction, with Bates Smart describing the tower as a “refined and sculptural built form that mediates between the scale of St Kilda Road and Queens Road,” reinforcing a civic presence at the key intersection.&nbsp;

<img alt="First look: Dexus joins St Kilda Road apartment ranks with gateway tower proposal" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-10-06%20at%2012.52.37%E2%80%AFPM.png?VersionId=Tq3yyOWe0e0klvy5j4TIjiZT7yd3f1Xk" />

The development will comprise 402 apartments, including 40 studios, 87 one-bedroom, 203 two-bedroom, and 66 three-bedroom residences, alongside six penthouses. The project will also incorporate active frontages, new pedestrian through-links and a landscape strategy designed to integrate with the boulevard character of St Kilda Road.&nbsp;

Public realm improvements form part of the approved scheme, including a 138 square metre linear park, extensive landscaping and approximately 188 metres of active street frontage intended to improve permeability and safety at ground level. Four basement levels will provide 449 car spaces and 120 bicycle spaces.&nbsp;

The project includes a $9.6 million contribution to the Social Housing Growth Fund, equivalent to three per cent of the project’s estimated development cost, supporting broader affordable housing initiatives across Victoria.&nbsp;

<img alt="First look: Dexus joins St Kilda Road apartment ranks with gateway tower proposal" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/St%20kilda%20rd%20site.png?VersionId=m_ZioKYhwkvekE3ZUF6y7bz.5_5yFPnZ" />

Wholesale Australian Property Fund (DWAPF) Fund Manager Chris Davitt said the residences are intended to appeal to a broad mix of buyers seeking proximity to the CBD and surrounding amenities.

“We’re excited about the potential of the project to contribute new residential supply to one of Melbourne’s most sought-after areas,” Davitt previously said. “The landmark site at 636 St Kilda Road is at the gateway to Melbourne’s CBD, offering sweeping views and exceptional connectivity.”&nbsp;

The site’s three street frontages, St Kilda Road, Queens Road and Queens Lane, allow for generous setbacks and a flexible built form, while its proximity to the ANZAC Station tram-rail interchange and the St Kilda Road cycling corridor positions it within one of Melbourne’s most connected inner-city precincts.&nbsp;

St Kilda Road has become one of Melbourne’s most active apartment corridors in recent years, with projects such as Victoriana, The Muse and St Boulevard already completed overlooking Albert Park Lake, while Gamuda Land continues construction on Fareham and several other developments are planned nearby.&nbsp;

Dexus secures ministerial approval for St Kilda Road apartment tower

Just a few months after launching to the market,&nbsp;<a href="https://www.apartments.com.au/developers/gold-partners-australia">Gold Partners Australia</a>&nbsp;has sold 75 per cent of the apartments at&nbsp;Harmony on Broadbeach, its debut Gold Coast apartment development.

<a href="https://www.apartments.com.au/new-apartments/harmony-on-broadbeach-2797-gold-coast-highway-broadbeach-qld-4218">Harmony on Broadbeach</a>, which will rise 33 storeys on the corner of First Avenue and the Gold Coast Highway about 400 metres from the beach, will deliver a collection of two and three-bedroom apartments designed to appeal to a mix of local owner-occupiers, interstate buyers, and investors seeking newer stock in the tightly held Broadbeach market.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI Architects</a>, Harmony will home just over 100 apartments, with a typical floorplate limited to four apartments per level. The configuration allows for larger layouts and greater privacy compared to many higher-density coastal towers.

[smartcode_project:default project_id=113098 project_image_fid=355608]

The residences comprise generous two and three-bedroom apartments with open-plan living areas, large balconies and floor-to-ceiling glazing designed to maximise natural light and capture views across the ocean, hinterland and Broadbeach skyline. Interiors feature natural stone benchtops, engineered timber flooring and Miele appliances, with finishes intended to reflect the coastal character of the surrounding area.&nbsp;

Amenities are centred on a dedicated wellness offering, including a 20-metre swimming pool, spa, sauna, gymnasium and yoga lawn, alongside communal lounges, private dining areas and outdoor barbecue spaces for residents. The building will also include a hospitality venue at street level, activating the ground plane along the Gold Coast Highway.&nbsp;

[smartcode_project:default project_id=113098 project_image_fid=355611]

Olympus Property Group is handling sales for the development. Director Deanna Lockett said the project has resonated with a wide buyer pool drawn to the combination of location and pricing.

“There’s been nothing new come to the market in <a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> at this price point for nearly a year,” Lockett said. “It hits the sweet spot of affordability, good sized apartments, in a great location.”&nbsp;

Broadbeach remains one of the Gold Coast’s most established lifestyle precincts, with residents within walking distance of the beach, dining along Surf Parade, Pacific Fair Shopping Centre, and the Gold Coast Convention and Exhibition Centre. The suburb has seen limited new apartment supply over the past year, contributing to strong early demand for Harmony.&nbsp;

Construction is due to commence in Q2 2026, with completion targeted for late 2028, as Gold Partners Australia expands into the Gold Coast market alongside its established pipeline in New South Wales.

[smartcode_project_cta:default project_id=113098]

Ewan Morton

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