<html><body>
GUEST OBSERVATION
Until now, student debt in Australia has been relatively modest, with low repayment rates, low indexation and high repayment thresholds. This won’t be the case if the government proceeds with changes mooted in the recent budget, including higher fees and higher interest on debts. Australia will move to a student debt model similar to the US, so this is a good place to look at the effects that large levels of debt have on young graduates.
<a href="https://www.demos.org/what-cost-how-student-debt-reduces-lifetime-wealth" target="_blank">Much recent research</a> from the United States shows that student debt is having profound and negative effects, both at the individual and at the national level.
Graduates living with debt
Purdue University is a public university in South Bend, Indiana. President Mitch Daniels commissioned a large, evidence-based study of the impact of student debt on university graduates. <a href="https://www.gallup.com/strategicconsulting/168791/gallup-purdue-index-inaugural-national-report.aspx">The results</a>, based on a survey of 30,000 graduates, were recently released.
The <a href="https://www.nuvo.net/indianapolis/purdues-mitch-daniels-talks-college-costs/Content?oid=2837651#.U4KfSPmSyPY" target="_blank">findings of the study</a> are sobering, on two fronts.
First, student debts weigh heavily on students’ later wellbeing. Wellbeing was measured along five dimensions: life purpose, social engagement, community engagement, financial satisfaction and physical health. Graduates without student debt were seven times more likely to report themselves to be “thriving” along all of these dimensions than graduates (or indeed dropouts) with more than $40,000 in debt.
This finding tends to confirm the results of a <a href="https://www.sciencedirect.com/science/article/pii/S0272735813001256">major meta-analysis</a> of evidence from the United States, the United Kingdom and New Zealand. The findings suggest that higher levels of debt while a student are significant predictors of stress and secondary negative health consequences. This study also points to other evidence of serious consequences more generally. Higher levels of debt have serious long-term consequences, including mental, neurotic or psychotic disorders, depression, suicide attempts (or suicide completion), problem drinking and drug dependence.
Secondly, large debt burdens influence choices related to work, careers and lives. Graduates with higher debts are less likely to be entrepreneurial and start new businesses. This is to be expected, as student debt repayments tend to constrain the capacity to borrow for other productive purposes.
In the robust free-market economy of the US, such entrepreneurial timidity among the best and brightest is a source of real and valid concern for policy makers.
Other <a href="https://www.sciencedirect.com/science/article/pii/S0047272710001337" target="_blank">recent research</a> has shown that students with higher debts tend to pursue higher-paying careers, not pursuing “public interest” jobs in areas like teaching and community services. Over time, this means that public institutions like schools will have to pay higher wages to attract the best and brightest, indirectly shifting some of the cost of student debt back to the taxpayer in the form of higher public sector salaries.
Large student debts <a href="https://www.learnvest.com/2012/10/real-women-speak-out-how-student-loans-have-affected-me/" target="_blank">have also been shown</a> to lead to delays in home purchases and having children.
Debt ain’t free
Shifting more of the burden for higher education back on to students, and saddling them with huge debts, may seem like a good idea for policy makers, but it will have serious long-term consequences for those students and thus the wider Australian community.
In the United States, the average student graduated with around $30,000 of student debt in 2013. Currently, Australian graduates of three-year business degrees have debt of a similar level.
If the proposed changes lead to higher fees, <a href="https://theconversation.com/how-much-student-debt-will-you-be-facing-post-budget-26712" target="_blank">as most analysts expect</a>, it would be reasonable to anticipate the graduates of 2018 completing their three-year degrees with debt of around $50,000.
It would be naïve to think debts of this level won’t have far-reaching consequences for graduates’ well-being and the work and economic choices they make in their lives. These choices will have serious consequences for our economy and society.
John Rice is associate professor in strategic management at Griffith University.
John Rice works for Griffith University, a public university. His most recent previous role was Chief Researcher at the National Centre for Vocational Education Research, a ministerial company owned by the Commonwealth and State education ministers. He has received grant funding from the Australian Research Council. He is a current member of the Australian Labor Party and the National Tertiary Education Union.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
Photo courtesy of <a href="https://taxrebate.org.uk/" target="_blank" rel="nofollow" data-rapid_p="22">TaxRebate.org.uk</a> / <a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
</body></html>

jake-cSmGT7VXVf

How will rising student debt affect first home buyers?

<html><body>
GUEST OBSERVATION
When I speak to someone looking to buy an off the plan property, one of my first questions is usually “investor or first-time buyer?”
Recently it was claimed that there is currently a ‘property war’ between first time home buyers and investors, each one vying for in-demand properties throughout Australia. If there is a property war, then the investors are winning. They have more experience, better credit, and in most cases, the confidence to act quickly.
Last year saw a lot of first time buyers forced out of the market due to high property prices and excessive demand. The proportion of first home buyers of all owner-occupied loans financed in January increased .5% from December. Although this is a good development for buyers and the market, this stat is still five times less than investment loans financed. But for those intimidated by the investor presence, first time buyers can easily move into top quality properties.
One of the priority issues for first time buyers is location. Most buyers are looking for something close to the city and close to work, which is where the investors begin driving competition. Smart investors will recognise these areas as the key hotspots and are also looking in these areas. But there are brand new developments in Surry Hills, Rosebery and Alexandria that pose fantastic opportunities for those looking to take a step into the market.
Most inexperienced buyers don’t realise how cost effective off the plan purchases are. Many assume that because it is a new development it is going to cost them more. But seeing as many off the plan purchases occur months ahead of moving in, they afford you the time to save a larger deposit and allow you to qualify for the First Home Owners Grant if applicable.
Off the plan purchases represent some of the best opportunities for first time buyers to not only move out of home, but to move into the market as investors. Now more than ever, buyers are taking the opportunity to buy a new apartment and rent it out to pay off their mortgage faster. With the large number of young professionals looking for homes and willing to pay higher prices for better locations, the potential for return off a purchase can be significant.  
Sam Elbanna is managing director of <a href="https://www.cpmrealty.com.au/" target="_blank">CPM Realty</a>.
 
</body></html>

Not according to ‘the plan’: First home buyers missing out on off the plan opportunities

<html><body>
The Australian residential property market has recently been showing signs of improvement.
Investors and changeover buyers are being drawn back to the market following interest rate cuts and the positive outlook for housing.
Unfortunately, first-home buyers are missing out on the favourable environment due to  a number of reasons – stamp duty, the size of deposit required and ability to save for it, unemployment and underemployment concerns.
Recent changes to the first-home owner grant in all states and territories (except for Western Australia and the Northern Territory) have added to the uncertainty and impacted on the activity of first-home buyers in the market.
As part of the inter-governmental agreement (IGA) on the reform of Commonwealth/States financial relations signed in June 1999, all states and territories agreed to provide uniform financial assistance to Australians who are buying their new or established first-home through the introduction of the first-home Owner Grant.
According to the recently released QBE Lenders’ Mortgage Insurance’s (QBE LMI) 2013 Mortgage Barometer Report, 84% of first-home buyers believe property prices are close to reaching or are above what they can afford and 69% worry they will neverbe able to afford their own home (compared to 24% of all respondents).
Unfortunately, governments of most states and territories have made it much harder for first-home buyers to see their dreams realised. Table 1 (below) shows recent changes to the first-home owner grant.
<img alt="hawthornejuly25table1" height="328" width="470" src="/images/stories/2013/07/hawthornejuly25table1.jpg" style="display: block; margin-left: auto; margin-right: auto;">
As a result of the new policies, the Australian Bureau of Statistics’ figures for March 2013 show that first-home buyers are becoming an endangered species. 
Figure 1 (below) shows that in Australia, only14.2% of owner-occupier housing finance commitments in March were from first-home buyers – the lowest level seen since May 2004.
<img alt="hawthornechart2" height="226" width="470" src="/images/stories/2013/07/hawthornechart2.jpg">
Housing finance figures for April show that in New South Wales and Queensland (both below), where the grant ended in Octobe rlast year, first-home buyers made uponly 7.3% and 10.3% of the owner occupier market respectively with both states significantly decreasing their share in the total number of first-home buyers in Australia.
<img alt="hawthornechart3" height="212" width="470" src="/images/stories/2013/07/hawthornechart3.jpg">
<img alt="hawthornechart4" height="203" width="470" src="/images/stories/2013/07/hawthornechart4.jpg">
Two out of three first-home buyers in NSW and Queensland surveyed by the QBE LMI’s indicated the new policies made an impact on their purchase intentions.
With new arrangements aiming to stimulate building activity, it is too early to expect substantial positive results on the industry. REIA has been lobbying hard against the breach o fthe IGA, however we are still to hear what the Commonwealth will do.
Evgeniya Hawthorne is Research Officer for the <a target="_blank" href="https://www.reia.com.au/">Real Estate Institute of Australia</a>.
 
</body></html>

First-home buyers left out as residential market improves: Evgeniya Hawthorne

<html><body>
Property investing is a game of numerical knowledge.
Clued-up investors know that it’s not just about the headline median price, clearance rates and prestige sale figures. Yields, vacancy rates and employment figures can be just as important.
Some numbers are more equal than others. Here are seven of the standout figures that you should stick to the back of your brain this week:
<ol>
<li>
1.2% Sydney’s price gains managed to drag the national result up as the latest Australian Property Monitors PriceFinder data revealed that <a href="/expert-insights/buying/sydney-strength-drags-along-slowing-house-prices-apm">national price growth had risen by 1.2%</a> for the September quarter. It was the slowest national growth figure recorded since March 2013. Brisbane was perhaps the most surprising result, with its median price falling 1.3% over the quarter. 
</li>
<li>
4% Infrastructure is often pointed to as one of the keys to future price growth. But just how big an effect does it really have. Researchers from Griffith University studied the effect of Brisbane’s introduction of ferries nearly 20 years ago and found that on average <a href="/news/qld/how-the-introduction-of-brisbanes-ferries-affected-property-prices">properties one kilometre closer to the ferry terminal increased by an average of 4%</a> more than those further away. In fact academic Barbara Yen said that: “A one hundred metre decrease in the distance to the ferry stop would increase property values by between 4.9% and 13.1%.” 
</li>
<li>
-8.5% The Sydney market has boomed over the past couple of years, but not every region has benefited. SQM Research’s Louis Christopher dug down into <a href="/news/nsw/not-all-sydney-areas-are-booming-the-citys-three-worst-performing-regions">the three areas which have underformed</a>. Among them the affluent Lower North Shore which has actually seen prices fall by 8.5% over the past three years. 
</li>
<li>
274 Brisbane has a new contender for the crown of the city’s tallest tower. <a href="/expert-insights/buying/brisbane-skytower-joins-race-to-be-the-citys-highest-residential-tower">Brisbane Skytower will reach the city maximum height of 274 metres</a>, potentially equalling Shayher Group’s proposed 82-storey residential tower on 300 George Street. 
</li>
<li>
11 Melbourne’s median house price has stabilised over the previous quarter, but <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=e48e5e6ff4&amp;e=035e81ff9a" target="_blank" style="line-height: 1.3em;">price growth in 11 suburbs stood out</a>, according to the Real Estate Institute of Victoria. 
</li>
<li>
104 Melbourne City Council has secured the $76 million purchase of a 6,462 square metre property site opposite the Queen Victoria Market <a href="/expert-insights/investing/queen-victoria-market-precinct-site-sells-to-melbourne-city-council-after-104-year-wait">after a 104 year wait</a>. The council managed to fight off competition from $80 million offshore buyers to secure the prime redevelopment site. 
</li>
<li>
1,641 Melbourne is gearing up for its<a href="/expert-insights/buying/all-time-record-number-of-auctions-rp-datas-melbourne-weekend-preview"> biggest auction weekend ever</a>. RP Data figures show 1,641 auctions are scheduled for the forthcoming pre-Melbourne Cup weekend, breaking the 1,619 auction record set on the same days last year.
</li>
</ol>
</body></html>

The top property investment numbers of the week

<html><body>
<ul>
<li>$18,000 per square metre</li>
</ul>
A one bedroom Potts Point bolthole (pictured below) <a href="/expert-insights/buying/the-38-square-metre-potts-point-sydney-unit-that-fetched-684-000">38 square metre offering sold for $684,000</a> at auction last weekend.
That works out as $18,000 per square metre.
 <img src="/images/phocagallery/2014/10/potts-point-oct-24/potts%20point_0002_3.jpg.jpg">
<ul>
<li>$50,000</li>
</ul>
The 460 square metre, three level penthouse atop the Tony Owen-designed Eliza building (pictured below) comes with a <a href="/expert-insights/buying/the-15-million-eliza-penthouse-has-a-50-000-fridge">pretty hefty price tag of $15 million</a>. 
For that, the four bedroom, six bathroom apartment includes a private lobby, an internal passenger lift, 13.5-metre frontage overlooking the park and ... a $50,000 fridge.
<img src="/images/2014/10/29/eliza-oct-29-two.jpg"> 
<ul>
<li>44%</li>
</ul>
Westpac is the most exposed of the 'Big Four' to investor lending, with new research indicating <a href="/expert-insights/finance/westpac-most-exposed-to-property-investor-mortgage-market">44% of its mortgage book belongs to this market</a>.
Macquarie Group research concluded macroprudential policy could result in a 1% fall in big bank earnings.
 
<ul>
<li>Seven out of 10</li>
</ul>
It was a record breaking auction week in Victoria in the lead up to the Melbourne Cup long weekend and <a href="/expert-insights/buying/victorian-prestige-homes-dominate-rp-datas-top-10-sales-of-the-week">seven of the top 10 sales across the country were in the state</a>, according to RP Data.
Among them was the Canterbury trophy home Tavistock (pictured below). The house was designed by Ussher and Kemp, the prolific Federation era Melbourne architects who made their mark throughout Melbourne's eastern suburbs.
 <img src="/images/2014/10/28/camberwell-oct-28-breakout.jpg" alt="Victorian prestige homes dominate RP Data's top 10 sales of the week">
<ul>
<li>$5 million</li>
</ul>
But the honour of the priciest sale of the week belonged to a three bedroom Darlinghurst apartment (pictured below). 
The north-east corner apartment on the 16th floor of the Residence secured <a href="/expert-insights/buying/darlinghurst-apartment-sells-prior-to-auction-for-5-million">$5 million prior to auction</a>.
<img src="/images/2014/10/27/darlinghurst_0000_1.jpg.jpg" alt="Darlinghurst apartment sells prior to auction for $5 million">
<ul>
<li>$300 million</li>
</ul>
One of the largest commercial property transactions of the quarter went through this week.
A 50% stake in North Sydney’s 101 Miller Street/Greenwood Plaza(pictured below) <a href="/expert-insights/investing/half-share-in-north-sydneys-101-miller-street-greenwood-plaza-sold-for-300-million-plus">was sold for over $300 million</a>.
TIAA Henderson Real Estate, on behalf of TIAA-CREF, purchased the half stake from Eureka Funds Management. Mirvac Group will continue to own the remaining 50% stake.
<img src="/images/2014/10/30/greenwood-plaza-oct-30-breakout.jpg" alt="Half share in North Sydney's 101 Miller Street-Greenwood Plaza sold for $300 million plus">
<ul>
<li>$6.25 million</li>
</ul>
The octagonal Hotel Saville (pictured below) <a href="/expert-insights/building/confirmed-the-block-makes-octagonal-south-yarra-hotel-reservation">was confirmed as the site for a future installment of The Block</a> after Jonathan Chancellor revealed the $6.25 million buyer to be Watercress, the company behind the show's production. 
The site comes with a dash of morbid history. In 2002, it was alleged that male gigolo Shane Chartres-Abbott raped a client in a hotel suite.
Chartres-Abbott was arrested shortly afterwards and presented a bizarre defence that he was a 200 year old vampire.
In 2003, Chartres-Abbott was executed outside his Reservoir home as he left for his County Court trial.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20breakout.jpg" alt="Confirmed! The Block makes octagonal South Yarra hotel reservation">
 
</body></html>

<html><body>
A new Chapel Street, South Yarra development has been completed, just over two years since construction started.
661 Chapel St is the first Australian project of Malaysian-based developed Gamuda Land and was completed ahead of schedule. Settlements are set to occur in May 2018.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/25/2b369aa3a2ea4c529adf81a8eb014801.jpg" alt="">
Consisting of 116 apartments over 30 floors, the Bird de le Coeur designed development is close Melbourne High School and the Yarra River.
The hotel style development also has a library, BBQ area, 25 metre lap pool, private cinema, dining rooms and board room, as well as a wine cellar.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/25/f746b8e3b3f641898dab56c5caafbd9a.jpg" alt="">
661 Chapel St’s project director Aw Sei Cheh said the development was inspired by town making principles and the location was a major selling point for local and interstate buyers.
“We have had strong sales for this project, and strong inter-state sales too – with 15% of purchasers coming from NSW,” he said.
“Sydney-siders are attracted to Chapel Street’s legendary status as Melbourne’s premier shopping street, the locality to greenery such as the Yarra river and Royal Botanical Gardens, and its proximity to Melbourne CBD and other landmarks such as the MCG.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/25/fd2087db2eaa4a949463c8be7faf5571.jpg" alt="">
The Urban Developer recently reported that sales for the project are at approximately 70%.
Prices for the apartments start at $546,000 for a one bedroom, and go up to $2.7 million for a three bedroom.
There is an unsold $22 million penthouse shell which will be customised to the purchaser’s brief by celebrity interior designer David Hicks who has undertaken some preliminary (pictured) designs.
<div>
<div>It is a 729 sqm residence over three levels, likely to include three bedrooms, five bathrooms, sauna, steam and shower room, gym and yoga room, cinema, study and wine cellar.</div>
<div> </div>
<div>The 729 sqm space includes 93 sqm of balcony space and 82 sqm of rooftop.</div>
</div>
</body></html>

Chapel Street apartment development completed ahead of schedule

<html><body>
GUEST OBSERVER
Measures including toughening the requirements for interest-only loans and property investments in self-managed super funds introduced in March have reduced the number of investors purchasing property in Sydney by 20% and helped cool the market.
Investors comprised more than 50% of the entire Sydney market in 2016 but have started to level off this year, which I largely attribute to APRA’s tightened macro-prudential measures.
Many experts believe we shouldn’t interfere with the market and simply let nature take its course, but I feel that this laissez-faire approach would have had dire consequences.
Although there are several factors at play, the excessive number of investors in the market was primarily responsible for the recent exponential price growth, so it is encouraging to see the further tightening is putting the brakes on the investor boom – which is what the measures were designed to do.
But, Australians should not expect a market crash. 
I believe the market has now plateaued, which was inevitable as prices couldn’t continue to rise indefinitely but this shouldn’t be a reason to panic.
We must caution against the inevitable scaremongering, and maintain some perspective because we are looking at the aftermath of the investor ‘boom’, but that doesn’t mean we are heading for a crash.
Sydney prices will remain strong for the short- to medium-term, and will naturally realign and readjust over time.
I remain very optimistic about the Sydney market. We will see a correction in prices but there are so many variables, making it difficult to forecast.
Over the past 18-24 months, we’ve witnessed prices across most Sydney suburbs rise at the same pace, which is quite unusual, so we could see this start to adjust and become nuanced.
Starr Partners has seen a shift this year amongst investors in Sydney, with many now starting to set their sights on areas such as the Newcastle and Hunter regions.
The APRA measures were designed to encourage lending institutions to be more prudent, not necessarily to solve the housing affordability crisis.
With these measures having taken hold, I’m hopeful we will see the return of natural market equilibrium, with higher numbers of first home buyers and other owner occupiers, which we are already starting to see at our open for inspections and auctions.
In saying that, investors will still be competing for property amongst these buyers – as they have always done. A bump in the road won’t be too impactful for experienced investors. Normally, they are very sensible in their approach, they have enough capital in their investment portfolio and carry a long-term view.”
Following APRA strengthening its policies, the federal government’s recent budget announced tougher rules on foreign investment such as removing the main residence capital gains tax exemption and an annual foreign investment levy for future foreign investors who fail to occupy or lease their property for at least six months each year.
It also revealed plans to restore the requirement that prevents developers from selling more than 50% of new developments to foreign investors.<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn1"></a>
Despite this, more could be done to curb investment from non-residents, given the action taken to restrict investor spending for residents. 
My one lingering concern is that the new measures could pave the way for more foreign buyers.
Although I welcome the recent introduction of tougher rules on foreign investment, I’m not convinced that these measures are enough.
We have gone to great lengths to curb investor spending for residents, so shouldn’t we be doing the same for non-residents?
However, my fears could be allayed, with reports out of China suggesting its new regulatory crackdown on capital outflows is really starting to work.
Douglas Driscoll is CEO of real estate group Starr Partners and can be contacted <a href="https://www.starrpartners.com.au/" target="_blank">here</a>.
</body></html>

Sydney property investor activity drops by 20% - but don’t expect a crash: Doug Driscoll

<html><body>
PRDnationwide’s Hobart Property Hotspots Second Half of 2016 nominated three affordable unit hotspots for 2017.
They included Sandy Bay, Kingston and Howrah.
Sandy Bay
OVERVIEW
Approx. distance from CBD: 2km
Median unit price: $400,000
• 1 Bed Median Price $265,000
• 2 Bed Median Price $370,000
• 3+ Bed Median Price $575,000
Close to Hobart’s CBD, Sandy Bay is often associated with an expensive price tag, however its unit market is an attractive property option.
Although at the higher end of the unit hotspots it has continually displaying sought-after potential during 2016.
Median prices climbed 6.1% from 2015, double the growth of the previous year.
The area is set to have $5.1 million worth of new projects under construction by the end of 2016, adding further foundations for future growth in the area.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-tas-sandy+bay-124169774" target="_blank">1/16 Chessington Court</a>, Sandy Bay (above) was sold for $407,500.
Kingston
OVERVIEW
Approx. distance from CBD: 12km
Median unit price: $310,000
• 1 Bed Median Price $146,000
• 2 Bed Median Price $281,500
• 3+ Bed Median Price $357,500
Kingston features as both a unit and house hotspot this half year.
The area has shown positive movement over previous years creating confidence in its property market.
This confidence is underpinned by the commitment to improving the area by additional developments valued at $9.3 million.
The project focus is on additional residential stock to the market at a total of $5.5 million.
The further $3.8 million of project developments is shared between a infrastructure and commercial projects.
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-kingston-123509838" target="_blank">1/65 Hutchins Street</a>, Kingston (below) has been listed for sale for $315,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/1_65%20Hutchins%20Street.jpg" alt="">
Howrah
OVERVIEW
Approx. distance from CBD: 7km
Median unit price: $300,000
• 1 Bed Median Price $175,000
• 2 Bed Median Price $290,000
• 3+ Bed Median Price $365,000
Located on the eastern shore of Hobart is the beachside suburb of Howrah.
Enjoying views of the Derwent River and the Hobart CBD this suburb has a lot on offer for its broad range of demographics.
From the many parks with walking tracks to recreation areas and more, Howrah boasts a sought-after living and lifestyle environment.
Recent upturns in sale prices, along with attractive investment returns, extremely low vacancy rate of 0.2%, and solid rental yield of 4.8%, reflect the strong potential of the area.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-tas-howrah-123846686" target="_blank">2/13 Hance Road</a>, Howrah (below) has been sold for $305,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/2_13%20Hance%20Road.jpg" alt="">
</body></html>

Sandy Bay unit market prime for the picking: PRDnationwide

<html><body>
Property prices on a seemingly never ending upward trajectory; first home buyers priced out of the market; exasperated claims of a lack of available stock; a fear that a major city’s property market may have shifted rapidly from buoyant recovery to spectral bubble.
It’s a story many investors in Australia’s main two major markets – Sydney and Melbourne – have been accustomed to hearing. But likewise the Dutch city of Amsterdam has a similar recent tale of property travails.
Amsterdam house prices rose 22% year on year to October 2016, <a href="https://www.nvm.nl/actueel/persberichten/2016/20161005woningmarkt2016q3" target="_blank">according to</a> the nation’s association of real estate agents. While the latest data from CoreLogic shows that Australian property prices continue to rise. Over the past year prices in Sydney and Melbourne have rise by over 15% and 13% respectively. That stat is one of the many parallels investors can draw between the North Holland city and those in the land once claimed as New Holland.
Price growth in Brisbane and Adelaide hasn’t quite matched those heady double-digit heights, but at about 4% growth year on year, both cities are returning decent dividends for property investors. The only city dragging down CoreLogic’s five city capital average is Perth; a slight uptick in December failing to make up for the price declines earlier last year.
<a href="https://www.propertyobserver.com.au/images/2017/01/18/CORELOGIC-DEC-19.jpg">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/CORELOGIC-DEC-19.jpg" alt="">
So what will the average median price buy you in Amsterdam?
Sydney
According to CoreLogic’s December 2016 indices report, Sydney’s all-dwelling median price sat at $1,056,000.
At current exchange rates, the equivalent median price in Amsterdam (approx. €745,624) would put you in the market for <a href="https://www.engelvoelkers.com/en-nl/property/modern-living-in-one-of-the-loveliest-streets-in-amsterdam-3664333.1174577_exp/" target="_blank">a 125 square metre, four room apartment</a> (pictured below) on the trendy inner west Haarlemerstraat, a sector know for its chic cafes, boutique stores and tourist-drawing “coffee” shops.  It comes with double-glazed windows, two-rooftop terraces and a Jacuzzi.
It may be a relatively high price to live in this area, but the prime real estate in Amsterdam is the famous canal houses, which leave little spare after a several million euro outlay.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/25/adm%201.jpg" alt="">
Melbourne
Melbourne’s median price sits at $863,260, according to CoreLogic. The equivalent (€610,000) would put you in the market for <a href="https://www.engelvoelkers.com/en-nl/property/tasteful-flat-in-listed-warehouse-3665296.1174976_exp" target="_blank">a beautiful two bedroom, one bathroom apartment</a> on the inner city Herengracht.
Like many properties in this region, the 105 square metre property (pictured below) is a converted warehouse property.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/25/adm%202.jpg" alt="">
Brisbane
Brisbane’s median dwelling value of $549,630 equates to roughly the price of €390,000.
With an estimated metropolitan population of approximately 2.3 million, Amsterdam is of a relatively equivalent size to Brisbane. However, any Brisbanites looking to decamp to Amsterdam can expect a fair decrease in size ­–<a href="https://www.engelvoelkers.com/en-nl/property/sold-3677474.1179727_exp/" target="_blank"> this central Amsterdam apartment</a> (pictured below) is only 46 square metres in size.
Located in the beautiful Jordaan district, it’s close to many shops, restaurants and has a view of the famous Brouwersgracht.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/25/adm%203.jpg" alt="">
Adelaide
Adelaide has the lowest median dwelling value of the five included in CoreLogic’s aggregate, at $472,000.
The equivalent of €333,271 would have this central Amsterdam apartment, located on the closet western canal to the city centre, in range. Though only 47 square metres, <a href="https://www.engelvoelkers.com/en-nl/property/studio-apartment-with-elevator-3696689.1187116_exp/" target="_blank">this apartment </a>(pictured below) boasts a great location to offset its lack of size.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/25/adm%204.jpg" alt="">
Perth
Perth’s property market may have declined in the wake of the end of the mining boom, but its all-dwelling value still eclipses all bar Sydney and Melbourne in CoreLogic’s five-city aggregate.
Its median value of $581,280 would be put a buyer in the Amsterdam market in the range of this €400,000 listed property. Though only 61 square metres, <a href="https://www.engelvoelkers.com/en-nl/property/whole-building-in-the-centre-of-amsterdam-3696411.1187025_exp/" target="_blank">this apartment</a> comes with two beds and a bathroom and is very close to the centre of the city.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/25/adm%205.jpg" alt="">
</body></html>

What will Australian property prices get you in Amsterdam?

<html><body>
Australian property prices continue to rise, according to the latest data from CoreLogic. But many investors will be scratching their heads and wondering if and when the good times may be coming to a halt.
Over the past year prices in Sydney and Melbourne have risen by over 15% and 13% respectively. Price growth in Brisbane and Adelaide hasn’t quite matched those heady double-digit heights, but at about 4% growth year on year, both cities are returning decent dividends for property investors.
The only city dragging down CoreLogic’s five city capital average is Perth; the city recording a slight uptick in December, but failing to make up for the price declines earlier last year.
<a href="https://www.propertyobserver.com.au/images/2017/01/18/CORELOGIC-DEC-19.jpg">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/CORELOGIC-DEC-19.jpg" alt="">
But what will the median price in these cities buy you in a city around the globe?
With a long history of cultural ties, the UK property market has long been a haven for keen Australian investors (by some calculations the favourite overseas property market for Australian investors). Many Australian property investors are able to purchase property in the UK, subject to tax laws, and many others hold UK or EU citizenship which allows them to (currently) purchase property with fewer restrictions.
With Brexit on the horizon, <a href="https://www.propertyobserver.com.au/(https:/www.theguardian.com/money/2016/nov/04/end-property-boom-uk-house-prices-flatline-savills-forecast" target="_blank">Savills is predicting</a> the central London property boom is about to ground to a halt. Many economists predict an economic slowdown in the UK and a decrease in immigration will temper house price and demand for rental properties, <a href="https://www.theguardian.com/money/2016/jun/10/prices-property-pensions-30-eu-referendum-questions-answered" target="_blank">while some argue</a> the fall in sterling will present great opportunities for the astute investor.
So what will the average median price buy you in London?
The current median asking price of a property in London is £1,198,081 ($1.49 million), then it won’t surprise that bargains are hard to come by. Though, keen-eyed investors may be able to pluck diamonds from the rough.
Sydney
According to CoreLogic’s December 2016 indices report, Sydney’s all-dwelling median price sat at $1,056,000.
At current exchange rates, the equivalent median price in London (£644,000) would fetch you <a href="https://www.rightmove.co.uk/property-for-sale/property-41872836">a three bedroom, two bathroom flat</a> (pictured below) in the Edgware Road precinct of West London, close to Hyde Park, Notting Hill and Buckingham Palace.
The south-east region of Wandsworth has a roughly similar median price for a studio apartment to Sydney’s all-dwelling price, <a href="https://www.londonpropertywatch.co.uk/avg_prices" target="_blank">according to London Property Watch</a>.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/ldn-1.jpg" alt="">
Melbourne
Melbourne’s median price sits at $863,260, according to CoreLogic. The equivalent amount in sterling (£525,000) would put you in the market for a 535 square foot (approx. 163 square metres), two bedroom apartment in the north-west area of West Hampstead, not far from the bustling hub of Camden Town.
The south-west region of Surbiton, not far from Hampton Court Palace has a similar median price for a two bedroom apartment to Melbourne’s median dwelling price.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/ldn-2.jpg" alt="">
Brisbane
Brisbane’s median dwelling value of $549,630 equates to roughly the price of<a href="https://www.rightmove.co.uk/property-for-sale/property-56887366" target="_blank"> a £335,000 studio flat </a>in the rapidly changing area of the Isle of Dogs in East London.
The area may be the home of EastEnders but the area is now being known for its rapidly shifting cityscape and a Brisbanite may feel content with a property parallel. The north-west suburb of Kingsbury in London has a comparable median price, according to LPW.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/ldn-3.jpg" alt="">
Adelaide
Adelaide has the lowest median dwelling value of the five included in CoreLogic’s aggregate, at $472,000.
The British equivalent of £288,000 would have an investor in the market for a<a href="https://www.rightmove.co.uk/property-for-sale/property-57242908" target="_blank"> two bedroom flat property in Leyton</a>, a stone throw from the Olympic Stadium.
The suburb also would match Adelaide’s all-dwelling price, albeit only for a one-bedroom flat.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/ldn-4.jpg" alt="">
Perth
Perth’s property market may have declined in the wake of the end of the mining boom, but its all-dwelling value still eclipses all bar Sydney and Melbourne in CoreLogic’s five city aggregate. Its median value of $581,280 would be put a buyer in the London market in the range of a £350,000 one –bedroom flat in the southern region of Stockwell.  The 605 square foot apartment is close to the bustling region of Brixton.
A two bedroom flat in the north-west region of Hendon would be similar to Adelaide’s median price.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/ldn-5.jpg" alt="">
</body></html>

What will Australian property prices get you in London?

Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Joel Robinson

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="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/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Jacob Robinson

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News