<html><body>
One of Melbourne's leading residential real estate project marketing agencies says owner-occupiers outnumbered investors three-to-one in its 2012 apartment sales.
CBRE Residential Projects' managing director Andrew Leoncelli says the average sale price of apartments sold last year by CBRE was $589,000.
"The split between owner occupiers and investors was approximately 75/25, as local owner-occupiers made a quality product offering their number one search criteria," he said.
<img height="305" width="470" src="/images/stories/2013/02/cbrefeb27one.jpg" alt="cbrefeb27one">
Mr Leoncelli cited <a target="_blank" href="https://www.emporialiving.com/">Emporia in Commercial Road, Prahran</a> (pictured above) and <a target="_blank" href="https://www.studioninerichmond.com.au/">Studio Nine, Richmond</a> (picture below) as success stories for CBRE in 2012.
<img height="271" width="470" src="/images/stories/2013/02/cbrefeb27two.jpg" alt="cbrefeb27two">
"These two projects offered a level of finish not seen for many years across the local market.”
Andrew Rice, of Property Development Analysis, says investor locations - such as the CBD and Southbank - are measured with a different set of requirements than their local precinct counterparts such as those in Prahran, Richmond, Fitzroy and South Yarra.
In such areas, he says, owner-occupiers are typically attracted by the closeness to services and amenities which compliment lifestyle and workplace.
"Buyers have been patiently waiting for projects with a certain level of quality before they buy," Mr Rice said.
"Projects that offer a unique level of finish through design and use of superior materials not only set themselves apart from the rest of the market but have enjoyed great results in 2012 and we expect this trend to continue into 2013."
Mr Leoncelli says the early part of 2013 has been promising for property trends, with online enquiries up 40% from this time last year and strong interest in all of CBRE’s currently advertised projects.
</body></html>

gdwyer-vyxhMDDW5L

Owner-occupiers outnumber investors in CBRE Melbourne apartment sales 

<html><body>
Melbourne CBD espresso bar Bon a Manger will open a second outlet at 80 Flinders Street in a move hailed by Savills property group as indicative of high demand for the area.
Bon A Manger, translating as ‘good to eat’, currently operates on the corner of Little Bourke Street and Hardware Lane (pictured below).
<img alt="bonamangerfeb26one" height="349" width="470" src="/images/stories/2013/02/bonamangerfeb26one.jpg">
But it will soon set up shop with its sandwiches, salads and soups at the former Melbourne Sports Books site.
Its a 47-square-metre space at the corner of Flinders Street and Exhibition Street and is adjacent to an IGA supermarket.
Savills director Nick Peden says recent and quick sales of neighbouring residential developments at 108 Flinders Street and the Phoenix Apartments demonstrated strong investment demand for the location.
“It’s starting to come of age, with highly sought after properties and a quick turnaround,” he said.
Peden estimates a 5.5% yield return for most properties within the Flinders Street area and says additional construction in the area will consolidate demand there.
Bon A Manger has committed to a five-year-term at a rental believed to be around $50,000 per annum net.
Bon A Manger – based loosely on the Pret a Manger, London concept – opened in late 2010 with the model-turned-entrepreneur Sam Hall-Haydon hiring the ex-Longrain chef Mitchell Townrow in the kitchen.</body></html>

Bon a Manger tenancy heralds Flinders St precinct's coming of age: Savills

<html><body>
The 'Great Australian Dream' of a home with a sizeable backyard is increasingly being abandoned in favour of medium-density dwellings such as units, townhouses and semi-detached houses, according to new research by Bankwest.




The Bankwest Housing Density report finds 38% of Australian home approvals over the past 12 months were for medium-density housing compared to 31% only five years ago.
The prevalence for medium density dwellings is not surprisingly highest in the capital cities with the reporting find that 87% of medium density approvals across Australia were located in capital cities with only 13% found in regional areas.





This reflects a considerable jump up from 69% in 2007 from the increased volume of medium density approvals recorded in Melbourne and Sydney over this period, with inner city areas facing the highest demand.





Since this 2007 period, inner Melbourne has seen 97% of housing approvals for medium density dwellings with inner Sydney and inner Brisbane following closely behind at 95%.





“The convenience of an inner-city lifestyle is driving demand for medium-density housing in centralised areas. Young city professionals are shunning the traditional homeowner dream in favour of lower overheads and a shorter commute to work,” says Bankwest retail chief executive, Vittoria Shortt.




The report also showed an increase in medium-density housing approvals in seven of Australia’s eight capital cities since 2007, with Perth being the only exception seeing a fall in its share of medium-density housing approvals over the last year of 20% compared to the level of approvals over the last five years of 23%.





“Higher than average wages and a sprawling city mean that Perth’s residents aren’t facing exactly the same space and affordability issues as those on the East Coast,” says Shortt.





The highest proportion of medium density housing approvals recorded outside of Australia’s capital cities, generally occurred in tourist and mining areas. Queensland’s Gold Coast East tourist hub had the biggest number of dwelling approvals over the last five years at 87%.





Mining areas across the Northern Territory, Queensland and WA also saw significantly high numbers of medium housing approvals last year. East Arnhem had 54% of total approvals for medium density dwellings, 43% of approvals for Queensland’s North West and 39% of approvals in De Grey in WA’s Pilbara region.



Shortt says the high property prices in Australia have made the dream of a standalone house in the suburbs significantly harder to achieve, leaving medium density housing the more affordable alternative.





“The popularity of medium-density housing will likely be maintained as older Australians continue downsizing to more manageable self-contained units and first time buyers look to medium-density dwellings as a cost-effective option."





Bankwest's First Time Buyer Deposit Report, released in December 2012, found units were a more suitable option for first time buyers wanting to live in Australia’s capital cities, taking the average first time buyer couple 3.3 years to save for a unit deposit compared with 4.2 years to save for a house deposit.
Photo by Michael Senchuk, courtesy of Flickr.
</body></html>

Aussie home with a backyard dream over: Bankwest survey

<html><body>
{qtube vid:=yvFh0pliQ8c}
In an Australian-first engineering feat, Frasers Property Australia and Sekisui House Australia have elevated a 110-tonne steel frame 100 metres in the air, successfully attaching it to the One Central Park apartment block on Sydney’s Broadway.
<img src="/images/stories/2013/02/heliostat1.jpg" alt="heliostat1" width="470" height="194">
It is considered the most complex part of the construction process in building Australia’s first residential heliostat. Frasers Property Australia chief Guy Pahor says the joint venture partners are delighted builder Watpac was up to the the "highly challenging engineering and construction task".
He said it had been 30 months in the making.
<img src="/images/stories/2013/02/heliostat2.jpg" alt="heliostat2" width="470" height="601">
When the cantilever is completed, the residents of  Sky at One Central Park will have access to the sky garden with outdoor dining and a plunge pool.
<img src="/images/stories/2013/02/heliostat3.jpg" alt="heliostat3" width="470" height="313">
Underneath its 3,000 coloured LED lights will become an eye-catching piece of public art at night, illuminating the residential towers with a light display designed by French lighting artist Yann Kersale.
<img src="/images/stories/2013/02/heliostat4.jpg" alt="heliostat4" width="470" height="313">
With the reflector frame now in place, the next complex task requires 320 large mirrored panels to be affixed to the enormous reflector frame.
<img src="/images/stories/2013/02/heliostat5.jpg" alt="heliostat5" width="470" height="313">
The Sky apartments comprise 38 penthouse and sub-penthouse apartments, ranging in size from 120 square metre to 200 square metres for the two bedroom offerings and 190 square metres for a dual-level, three-bedroom penthouse.
<img src="/images/stories/2013/02/heliostat6.jpg" alt="heliostat6" width="470" height="313">
 Construction completion is expected in late 2013.
</body></html>

Frasers and Sekisui House's One Central Park in Sydney gets Australia's first rooftop heliostat

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Glenn Dwyer

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News