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Recently, Momentum Wealth’s Damian Collins wrote a couple of articles about the environment in Perth, generating some interesting reader comments.
He has a <a href="/news/wa/perth-property-market-tipped-to-heat-up-for-spring">positive outlook for where values are heading in Perth this season</a>, noting that despite the slowdown in recent months, after solid 2013 growth, there may yet be an uptick left for spring.
“While the market may be a little more volatile due to the fluctuations in the mining sector, the long-term outlook remains very positive,” he concluded.
He also noted that <a href="/news/wa/despite-slowdown-perths-rental-market-is-strong">the rental market is expected to improve</a>.
{mijopolls 47}
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jduke-EHk3XBmHkn

Perth’s market conditions: Uptick or slowdown?

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A new report from Aussie and RP Data, the Property Discounting Report, was shared out on Twitter allowing buyers to see where the areas are that they can expect to pay less than the advertised price.
<img src="/images/2014/10/6/Picture%201.png" alt="">
<a href="https://www.propertyobserver.com.au/https://twitter.com/Aussie/status/517524379840696321" target="_blank">According to the report</a>, just 3.8% of houses sold at the advertised price by private treaty, with 4.7% of units attaining their asking price. However, the majority of houses and units nationally are actually selling less, at 63.4% and 58.1% respectively.
In the capitals this is less of the case, with 43.6% of houses and 46% of units selling above their list price.
So, where have they found selling below list price? You can<a href="https://blog.aussie.com.au/where-in-australia-you-can-expect-to-pay-more-or-less-than-the-advertised-property-price/" target="_blank"> see the full report here</a>, however the top 10 house suburbs include:
<ol>
<li>Emu Park, Qld 
</li>
<li>Port Pirie West, SA 
</li>
<li>Whyalla Playford, SA 
</li>
<li>Granville, Qld 
</li>
<li>Scotts Head, NSW 
</li>
<li>Maruya Heads, NSW 
</li>
<li>Harden, NSW 
</li>
<li>Wooli, NSW 
</li>
<li>Diamond Beach, NSW 
</li>
<li>Derby, WA</li>
</ol>
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The city suburbs that sell below their advertised prices: Tweet of the day

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The Top Sellers’ Markets from realestate.com.au has seen Parkside, South Australia take out top billing.
<a href="/news">Parkside</a> also received the top honour in August 2013, while it came in second in May this year.
However, New South Wales was also highly represented on the total list, with two Victorian suburbs scraping a mention, and another South Australian area in third place.
The data compares the number of people looking per listing, to come up with the top sellers’ markets.
The August 2014 top 10 list:
<ol>
<li>
<a href="/news">Parkside</a>, SA 
</li>
<li>
<a href="/news">Cherrybrook</a>, NSW 
</li>
<li>
<a href="/news">Norwood</a>, SA 
</li>
<li>
<a href="/news">Winston Hills</a>, NSW 
</li>
<li>
<a href="/news">East Melbourne</a>, VIC 
</li>
<li>
<a href="/news">Engadine</a>, NSW 
</li>
<li>
<a href="/news">South Penrith</a>, NSW 
</li>
<li>
<a href="/news">Bella Vista</a>, NSW 
</li>
<li>
<a href="/news">Drummoyne</a>, NSW 
</li>
<li>
<a href="/news">Surrey Hills</a>, VIC</li>
</ol>
May 2014 (previous quarter) saw the following take out the top spots:
<ol>
<li>
<a href="/news">Albert Park</a>, VIC 
</li>
<li>
<a href="/news">Parkside</a>, SA 
</li>
<li>
<a href="/news">Freshwater</a>, NSW 
</li>
<li>
<a href="/news">Belair</a>, SA 
</li>
<li>
<a href="/news">Blackburn North</a>, VIC 
</li>
<li>
<a href="/news">Kirrawee</a>, NSW 
</li>
<li>
<a href="/news">Cherrybrook</a>, NSW 
</li>
<li>
<a href="/news">Norwood</a>, SA 
</li>
<li>
<a href="/news">Balgowlah</a>, NSW 
</li>
<li>
<a href="/news">Holland Park</a>, QLD</li>
</ol>
August 2013 (one year prior)
<ol>
<li>
<a href="/news">Parkside</a>, SA 
</li>
<li>
<a href="/news">Freshwater</a>, NSW 
</li>
<li>
<a href="/news">Belair</a>, SA 
</li>
<li>
<a href="/news">Newmarket</a>, QLD 
</li>
<li>
<a href="/news">Surrey Hills</a>, VIC 
</li>
<li>
<a href="/news">Ashwood</a>, VIC 
</li>
<li>
<a href="/news">Blackburn South</a>, VIC 
</li>
<li>
<a href="/news">Fitzroy North</a>, VIC 
</li>
<li>
<a href="/news">Stanmore</a>, NSW 
</li>
<li>
<a href="/news">Fullarton</a>, SA</li>
</ol>
Comparing the quarters, South Australia have moved up as Victoria has fallen a little out of favour. Queensland has completely dropped off the top 10.
Parkside has been in the top spot for six times over the past 10 quarters, while South Australia’s Malvern has also been first in two consecutive quarters.
General manager of sales and operations at realestate.com.au Arthur Charlaftis said increased buyer interest is the metric behind the result.
“Top Sellers’ Markets data is derived from the supply and demand in each suburb and ranks the suburbs based on the ratio of buyer demand. A suburb that features in this list suggests that it could be a good time for property owners in these areas to consider selling as there are a high number of buyers searching for property in that area,” said Charlaftis.
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South Australia’s Parkside takes out top spot, but who else made the cut? Top 10 sellers’ markets

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How expensive does it get to rent a house in Victoria? Well, suburb median advertised weekly rents recorded by RP Data provide an interesting picture.
Here are the eight most expensive suburbs in which to rent a house in Victoria.
<ol>
<li>
<a href="/news">Toorak</a> Median advertised weekly rent:$830 At present, rentals are available from $795 per week per week to $3,000. 
</li>
<li>
<a href="/news">Brighton</a> Median advertised weekly rent: $820 At present, rentals are available from $370 per week to $5,000 per week. 
</li>
<li>
<a href="/news">East Melbourne</a> Median advertised weekly rent: $795 At present, rentals are available from $450 per week to $2,650 per week. 
</li>
<li>
<a href="/news">Sandringham</a> Median advertised weekly rent: $750 At present, rentals are available from $335 per week to $950 per week. 
</li>
<li>
<a href="/news">Hampton</a> Median advertised weekly rent: $725 At present, rentals are available from $325 per week to $2,000 per week. 
</li>
<li>
<a href="/news">Middle Park</a> Median advertised weekly rent: $700 At present, rentals are available from $475 per week to $1,950 per week. 
</li>
<li>
<a href="/news">Portsea</a> Median advertised weekly rent: $700 At present, rentals are available from $260 per week to $1,750 per week. 
</li>
<li>
<a href="/news">Beaumaris</a> Median advertised weekly rent: $700 At present, rentals are available from $500 per week to $1,500 per week.</li>
</ol>
 
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The eight most expensive suburbs in Victoria to rent

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Analysis paralysis is something that most people are affected by when they overdo their due diligence.
Essentially, extensive research into the property, location and strategy for your investment portfolio is important, but it can become a problem if you spend time constantly analysing without actually doing anything. This failure to buy, or to act, after substantial research is then called ‘analysis paralysis’.
How to tell if you’re stuck in analysis paralysis
Those who overthink regularly and like to consider every detail are more at risk of getting stuck in the rut of overanalysing. It’s very common for new investors, particularly as fear comes into play, and with so much data available it’s not surprising that conflicting details do come up and confuse the process.
Observer Cameron McEvoy calls it “an industry illness when it comes to property investment.” He notes that it’s <a href="/expert-insights/investing/what-early-signs-of-market-recovery-mean-for-property-investors">hard enough due to property being a slow burn investment, and data often lagging</a>.
“One of the best ways to combat a case of analysis paralysis is to invest in your own property sleuth skills. Become like a detective; don't be afraid to follow a hot lead based on instinct, and remember to use all of your instincts and logic to lead to you the answers you seek,” he explains.
He suggests using logic to question current data and numbers, compare it to historical data and listen to the opinions of many experts and agents.
“As for instinct – go with your gut feeling. Sometimes a great deal that just doesn't feel right, probably isn't right for you. This does not mean it isn't a great deal – it just isn't the deal that's the right solution for your brief.”
If you’re not sure whether you’re stuck in analysis paralysis, ask yourself these questions:
Am I financially prepared to purchase?
Am I confident that I know the area well?
Have I researched thoroughly?
If you have said yes to the above, then you may be delaying unnecessarily. You then may want to ask yourself: Do I have a reason to delay purchasing?
Rich Harvey notes that <a href="/expert-insights/investing/the-three-types-of-property-buyers-and-the-cycle-of-emotion-in-buying-a-property">buyers who can categorise themselves as ‘reactive’ </a>– that is, you buy when prompted and then perhaps it’s too late, are often those that are stuck in this paralysis. It’s all about having the right balance between research and action.
Sometimes, analysis paralysis is due to fear of purchasing the wrong thing. This may suggest that it’s time to get an expert on board for some guidance. It may also be because you’re not ready to take the risk. In some situations, listening to your internal paralysis and holding off out of the market can be a good thing.
It is worth noting that those considering the opportunity cost of their actions in particular also consider the opportunity cost of not acting at all.
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What is ‘analysis paralysis’? Investment terms explained

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The Collingwood Yorkshire Brewery has seen the first stage sell 91% of the apartments, to a total of $176 million in sales, in three months.
The final stage of the Hayball-designed $220 million project has been launched early to accommodate for demand, with developer SMA Projects bringing the 70 apartments and townhouses in Northern View release to market.
The new release also includes five heritage loft apartments.
The former brewery underwent a full redevelopment of the 4,500 square metre site, retaining significant heritage features, to become 358 apartments and townhouses at 1-21 Robert Street.
Townhouses and three bedroom apartments were sold for $700,000 to $1.1 million, with two bedroom apartments from $525,000 to $760,000. One bedroom apartments sold for $285,000 to $515,000.
In this new release townhouses and apartments are priced from $395,000 to above $1 million.
SMA Projects' director Martin Strode said that 300 people visited the display suite on day one of the opening weekend.
"The success of the project is a sign of a strengthening market, but is also due to the history and character associated with the site," he said.
"We've saved the best for last with our latest release including the heritage brew tower apartments. It's been nearly 25 years since anyone has set foot in the tower, making it a once in a lifetime opportunity to live in one of Melbourne's most historic icons," Strode explained.
They said that they expect the heritage apartments to be purchased within a matter of weeks.
At ground level, Yorkshire Square will include a café, wine bar and deli to be opened to the public.
"We're now at the stage where we're looking for an operator to run the café and wine bar," he said, noting his vision is a communal space for local workers and residents.
Hayball's managing director Tom Jordan said that their design was created to engage with the vibrancy and diversity of Collingwood and to celebrate the site's heritage.
"The materials palette references and complements the site’s history, through a mix of timber, exposed brick and concrete,” Jordan said.
"Hayball’s scheme for this series of residential towers creates a permeable, neighbourhood-oriented precinct in the heart of industrial Collingwood".
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Collingwood Yorkshire Brewery apartments first stage 91% sold

How much does it cost to be closer to Sydney CBD?

<html><body>
Real estate advertisements are a source of amusement, frustration and awe for many. They can be exciting, beautiful, or downright shoddy.
Here are 9 terms that crop up regularly in property copy:
<ol>
<li>
Renovator's dream
Most renovators agree that their dream home isn't one riddled with issues, and many described "renovator's dreams" need an awful lot of work. To be honest, there are very few situations where this term should be used – it's over done.
</li>
<li>
Great potential
Everything, really, has potential. It's all well and good to make it obvious that this property has more potential than others, but explain why. The buyer wants to know if it has been DA approved, or if half the block is underutilised. Saying that something has great potential, without explaining what that potential is, does an advertisement no good.
</li>
<li>
Do anything you like (STCA)
If you want to develop the home into 500 apartments then of course you can (subject to council approval). Use this term if plans have been drawn up, or if the site is of a specific characteristic e.g. the exact size in the area to be able to house a granny flat or to be subdivided, and then make this clear. But don't give it endless possibilities STCA.
</li>
<li>
"Rare" or "unique"
This term should only be used in specific circumstances. Historical home that housed an Australian icon and can never be created in the same style again? Call it rare, unique and irreplaceable. One of the 50 properties in the suburb that has a double garage or a pool? Probably doesn't stack up to being called unique.
</li>
<li>
Hidden gem
We just found the property on a listings website or in an advertisement, so I'm not sure that it can really be counted as 'hidden'.
</li>
<li>
Luxury
One person's luxury is not the same as someone else's. Luxury spa, or luxury appliances... what does this actually mean? "Two-person spa" or "dual shower" is far more evocative and explains exactly what the property offers. Use this term sparingly, and only when it's truly going to be something considered a luxury for that area.
</li>
<li>
 Architect-designed or designer-something
Sure, some properties are built using a building designer or draftsperson, but many new builds, particularly in high-rise apartments, are done so by an 'architect'. You know what's better than saying 'architect designed'? Just saying who the architect was. The same applies to designer-appliances – just say who the designer is. Designers and architects are not all made equal.
</li>
<li>
Oversized
So many balconies, for instance, are "oversized" these days that it makes you wonder whether any average sized ones are left. The term oversized sounds a little monstrous, and we've already read it a thousand times. What would be better would be stating the size – and, if you really want to hammer it home that it's bigger, compare it to the average.
</li>
<li>
 Motivated vendor
This one is contentious, but when someone is looking through the listings for a property it's not the fact that a buyer is 'motivated to sell' that makes them interested, but the property itself and the price. Most people assume that the vendor is motivated, as they've put the property on the market in the first place. While this can be used effectively in areas with a tightly held market, it most certainly should not be used with great frequency. "Vendor willing to negotiate" may, however, perk up some peoples' attention.
</li>
</ol>
Which terms do you see over and over?
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The 9 most overused terms in property advertisements

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Over the past 12 months a total of 197,571 dwellings have been approved - the highest on record.
In August, dwelling approvals increased by 3%, according to the Australian Bureau of Statistics, with the yearly result up 14.5%.
CommSec economist Savanth Sebastian said that the latest economic data, in particular this lift in dwelling approvals, is encouraging.
"Dwelling approvals rose for the second straight month in August and hit record highs when viewed over the past 12 months. At the same time the trade deficit narrowed," he noted, saying that the fact approvals have consolidated over the last few months is positioning housing activity to be the "backbone of Australia's growth story over the coming year".
Dwelling approvals are now 24% above decade averages, and Sebastian expects them to lift even further over the second half of 2014.
"Lower interest rates, strong population growth, improving affordability, and pent up housing demand will see the housing sector gather pace over the medium term. In addition the recent cuts to fixed interest rates by the major banks will spur a further round of home building," he explained.
The approvals list will also appease policymakers, with an expectation than a lift in new housing stock would ensure more sedated price growth over the longer term as it shifts the supply/demand dynamic.
ANZ Research noted that dwelling approvals' increase was reflective of higher home prices and improved developer and home buyer sentiment, with strength in multi-dwelling units driving the result with 9.2% month on month growth.
House approvals fell 1.4% month on month.
"Looking through the volatility, higher-density approvals have been trending higher again in recent months, having previously reached a cyclical peak in late 2013 and then easing modestly. Meanwhile, the trend in house approvals continues to flatline, although remains at elevated levels," their latest research notes.
A solid pipeline of planning housing construction is expected, particularly for high rise apartments in Sydney, Melbourne and Brisbane.
The total value of non-residential building approvals did trend lower in August, now down 24% over the year, particularly in the commercial property sector.
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Last year records highest ever number of dwelling approvals

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Tom Hoogenbosch, director of Edgepoint Homes, is undertaking a 200 kilometre two-day ride to raise funds for The Peter MacCallum Cancer Centre.
With more than 1,200 riders, he will be in good company on his trip to the Mornington Peninsula and back.
Hoogenbosch is currently in the top five fundraisers list for the Ride to Conquer Cancer and it is his second time participating in the event, having done the ride last year as well.
His initial fundraising goal was $29,400 for the Edgepoint Homes team, which includes director Ben Thomas, staff members, friends, suppliers and sponsors. They have already surpassed that goal – currently at $39,335.30.
If Property Observer readers would like to donate <a href="https://ml14.conquercancer.org.au/site/TR/Events/Melbourne2014?team_id=12092&amp;pg=team&amp;fr_id=1141" target="_blank">you can see their team page here</a>.
The ride is on 25-26 October.
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Edgepoint Homes director’s two day ride for cancer fundraising

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Jennifer Duke

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