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In case anyone needed someone to say it, Residex’s John Edwards has noted that Sydney is now more unaffordable than ever before recorded, and that prices are still rising.
Yet despite the headlines, he says there is no bubble.
Edwards noted that an affordability measure, based on median household income, is now at historic highs.
Sydney house growth from August 2012 to August 2013 was 9.43%. From August 2013 to August 2014 it was recorded at 16.93%. Over the last quarter, 3.5% growth was recorded, with 1.52% over the month.
Sydney's unit growth from August 2012 to August 2013 was 2.68%. From August 2013 to August 2014 it was recorded at 14.31%. Over the last quarter, 3.64% growth was recorded, with 0.1% over the month.
“It takes about 54% of after tax income to make loan repayments on the median value home of $852,500; it takes close to eight times the annual median income to buy the median Sydney home. These ratios are extraordinarily high based on historical data,” said John Edwards.
However, he noted that fortunately Sydney is slowing down, albeit not as quickly as had been expected.
“Historically, at these levels our markets would fall in value. It is this high level of un-affordability that probably leads many to suggest that we are in a “housing bubble”.
“However, something has changed: The buyers in our markets. Our measure is likely no longer as valid as it once was, because the current buyers are no longer median income families. Median income families living in the median value areas of Sydney are largely renting,” he said.
He noted that house and land buyers are second and third time purchasers with income levels much higher than the median recorded wage, and that median income families are purchasing in the slightly more affordable city fringe.
He notes that the median price is very high, just $147,500 from reaching the $1 million median value mark.
By the first half of 2019, Edwards forecasts that Sydney can be assumed to reach a median value of this amount.
“It is equally clear that there are going to be large numbers of suburbs with a median above $2 million,” he said.
“By the end of 2019 it is estimated that there will be 91 suburbs with a median value in excess of $2 million. This represents about 9.5% of the city. The percentage of the city with median suburb value over $1 million will be approximately 43.25%.”
However, despite this, he maintains there’s no suggestion of a bubble.
He notes that a bubble exists when significant growth in asset values is driven by borrowings.
“In more general terms it is driven by greed and lack of careful thought by both lenders and borrowers. It is excessive bank lending which allows leverage and preparedness by borrowers to pay unreasonable prices for property,” he said.
Nothing suggests we are in this situation, Edwards explains, noting that banks and financial intermediaries, while becoming more aggressive to maintain market share, have acceptable risk policies.
“The driving force behind the growth in values seems to be existing home owners who have reasonable levels of income and assets to support their property purchases which are likely investments.
“In this situation the lenders can be more aggressive due to the capacity of borrowers to meet their obligations,” he said.
{mijopolls 43}
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jduke-EHk3XBmHkn

Sydney now more unaffordable than ever in recorded history, but no bubble: Residex

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Located at Main Beach, Byron Bay, the Fortyfive Lawson apartment development is redesigning their floorplan to create two sub-penthouses instead of apartments.
Just recently a record price for an off the plan purchase in Byron Bay was set at the new address, with a <a href="https://propertyobserver.com.au/finding/residential-investment/sales-and-auctions/35456-byron-bay-apartment-record-fortyfive" target="_blank">$5 million four-bedroom 405 square metre penthouse sold earlier this month, </a>something it seems the developers want to recreate.
They’re saying it’s due to the buyers being more concentrated in demand for larger, single-level apartments. In response, their previous designs have become two ground and first-level penthouses.
The new ground level offering will span 388 square metres, with the first level property across 255 square metres, priced from $3.95 million. They will enable either four-bedroom or three-bedroom plus media room configurations.
The ground floor includes a 10 metre lap pool.
“With the first of the two penthouses selling earlier this month, it became apparent that a significant number of buyers had missed out and were seeking a similar opportunity at this exclusive address,” said developer Jim Goldburg.
“Fortyfive Lawson now boasts four residences, one spacious retreat-style two-level terrace, two stunning penthouses and the two newly reconfigured sub penthouses all located on the doorstep of Byron Bay's pristine Main Beach.
“Both of the sub penthouses offer a wide aspect northerly outlook and come complete with the luxurious style and fittings the project has become renowned for."
The beachfront development has sold five of the initially-planned nine apartments since hitting the market. These sales have reached $19 million.
There is also one more penthouse available, priced at $4.5 million.
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Byron Bay development undergoes redesign due to penthouse demand

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Across Australia, including metro and regional, the August growth recorded was a flat lining 0.02%. However, the results of different cities varied substantially.
Here are the city and country results for median house price movements across the country over the month of August, as recorded by Residex.
CITY
 
MELBOURNE
2.31%
SYDNEY
1.52%
DARWIN
1.13%
HOBART
0.60%
ADELAIDE
-0.10%
ACT
-1.43%
BRISBANE
-1.70%
PERTH
-1.84%
Source: Residex
 
Turn over page for regional/country results.
<hr class="system-pagebreak">
COUNTRY
 
TASMANIA
0.59%
NEW SOUTH WALES
-0.15%
VICTORIA
-0.41%
QUEENSLAND
-0.51%
WESTERN AUSTRALIA
-0.52%
NORTHERN TERRITORY
-0.55%
SOUTH AUSTRALIA
-1.49%
Source: Residex
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August house price update: Which cities and regions grew the most?

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Pointing to falling listings in Sydney and across Australia, LJ Hooker chairman Greg Paramor said that the heat is already coming out of the market.
Speaking to the AFR’s Nine Financial Review program on Sunday, Paramor said that listings are down by 16% in Sydney and 11% across Australia.
“That would indicate any heat is starting to go out of the market,” he said, noting that foreign buyer discussions are confused, with talk about the queues of people buying hundreds of units is due to a structural undersupply in Sydney.
“One thing you don’t want is a market that gets out of control. You need to try and moderate that and all the talk is helping that,” he said.
However, he warned that macro-interference would “put a dampener on local buyers” and first home buyers, a situation that, in an undersupplied housing market across the country, he sees as undesirable.
YOU MIGHT ALSO WANT TO READ:
<a href="/news/lj-hooker-expected-to-be-sold-by-end-of-2014">LJ Hooker expected to be sold by end of 2014</a>
<a href="/expert-insights/investing/overheated-markets-set-to-see-a-2015-correction">Overheated markets set to see a 2015 correction</a>: Matusik
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Heat is starting to go out of the market: LJ Hooker boss

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Up to $55,480 of savings in stamp duty is available for Shine Apartments in Sydney’s inner western suburb of Campsie for a limited time, with the vendor offering to pay the costs for those who buy in.
The $55,480 figure is based on a $550,000 purchase price.
Developers Jia Shun Development Group, one of the largest builder/developers in Zhuhai China, and local based Kang Group Pty Ltd are behind the project.
Kang Group were behind South Strathfield development Verve Apartments.
<a href="https://shineapartments.com.au/" target="_blank">Shine</a> is being designed by Mackenzie Architects International and built by PMC Constructions.
The new apartments, from $499,000, come with parking and city views, with some also including oversized entertaining balconies.
Strata fees are priced at $380 to $445 per quarter for one-bedroom apartments, and $535 to $865 per quarter for two-bedroom apartments.
Rental yield expectation is sitting around 5.5%, with a low vacancy rate advertised.
The Shine Apartments are located on Troy Street.
They are being sold through Colliers International.
At present, RP Data records the <a href="/news">median unit price in Campsie at $465,000</a>.
CLICK HERE TO READ MORE NEW DEVELOPMENTS.
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Developer offers to pay stamp duty: Incentives on offer for Shine Campsie

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Offered for the first time this week is a boutique block of apartments in Sydney’s Waterloo.
Icelake, who also have projects in Petersham, Caringbah, Campsie, Riverwood, Chatswood, Burwood, Mascot and Beverly Hills, are the builders for this block of 39 apartments called <a href="https://www.zenithwaterloo.com.au/" target="_blank">Zenith</a>.
<a href="https://www.cbresi.com.au/NewProjects/Zenith,-Waterloo/707.aspx" target="_blank">Marketed through CBRE</a>, the apartments at 8 Amelia Street include one, two and three bedroom offerings.
The prices start at $638,000, with all containing studies. A number include parking. Two bedroom, two bathroom offerings range from $888,000.
The largest include three bedroom, two bathroom and two car parking options.
The median unit price in <a href="/news">Waterloo</a> currently sits at $665,000, according to RP Data.
CLICK HERE FOR MORE NEW DEVELOPMENT NEWS.
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Zenith Waterloo apartments now launched to market

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‘Opportunity cost’ is a buzz phrase when it comes to property and investing generally, and you’d be wise to understand the concept before even thinking about purchasing.
Every time you do or do not buy, you are potentially stopping yourself from buying something else. If that “something else” is a better investment, then you’ve missed that opportunity. That’s your ‘opportunity cost’. It’s the ‘cost’ of money you could have had by making a different choice.
Of course, hindsight is 20/20, and there will likely always be a better choice that could have been made.  There will always be some degree of the unknown – and the fact is, you can never 100% accurately know what the cost of missing that opportunity was. However, it is something you should bear in mind particularly when funds are limited and the property you purchase has a lot riding on it. The point is, you want to be comparing the possibilities to try and make the best choice you can with the information available.
You can consider ‘opportunity cost’ alike to ‘missed opportunities’. Not all of them are particularly measurable. You also don’t be beating yourself up over missed opportunities, but do learn from past mistakes if, indeed, you should have known better.
RentCover’s Sharon Fox-Slater put ‘opportunity cost’ as the<a href="/expert-insights/investing/10-risks-first-time-property-investors-need-to-overcome"> number one risk first time buyers need to overcome.</a>
"Property investment can be financially rewarding but it’s usually negatively geared, at least to begin with, reducing your opportunity to invest in other asset classes or different properties," she said.
"Can you argue the merits of a property you are considering buying over others in the marketplace and over other types of investment?"
Opportunity cost is also worth thinking about when it comes to tying your money up for a period of time – such as in an off the plan property, or in <a href="/expert-insights/investing/letter-from-the-editor-opportunity-cost-is-one-of-the-biggest-risks">a block of land that doesn’t provide you any rental return and has uncertain growth</a>. While some people can afford to speculate on certain properties, or to put money into investments others consider unwise, not everyone has this luxury.
For each person opportunity cost looks different as not everyone is able to seize every opportunity. For instance, those with plenty in the bank and with high serviceability may not miss out on a rare purchase if some cash is tied up in a property that hasn’t seen any equity growth. However, someone else may need to step away from that dwelling due to having no funds left or hitting a serviceability wall.
It doesn’t just relate to property either. Any investment, of your money or your time or another resource, can be seen as opportunity cost. It’s a regularly used term in economics as well.
How can you be aware of opportunity cost?
There are, sadly, no hard and fast rules. However, there are several things you can do with every purchase you’re considering to determine what the outcome may be.
Take a step back and think unemotionally about the purchase
Ask yourself – why am I considering this property? What is the purpose of it? How does it fit into my portfolio?
Understand how it is likely to perform and why
If you’re looking for a growth asset, and this is a high yielding property in an area said to have slow growth, then you might want to re-think your purchase. Make sure you know what performance is expected (this is where research and expert advice can be useful).
Consider the implications for if the property underperforms
It’s always likely that a property will not perform to your best expectations. Know what the worst case scenario is and how this will affect you. If you can’t find a tenant, or it doesn’t grow in value, what will this do to your finances? Knowing this will help you plan and mitigate the risks as well as assess how likely these things are to occur.
How does it compare?
Comparing your property to others within your price range, as well as comparing it to what will happen if you do not purchase at all, is an important part of reasoning out the investment. If you are in a better financial situation in the long run, when considering potential growth and outgoings, then it may be worth asking yourself why you’re buying this particular property.
How do you assess opportunity cost when considering an investment?
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What is 'opportunity cost'? Investment terms explained

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Buyer’s agents are becoming increasingly popular, but like every other professional – they weren't all created equal.
If you’re currently considering a buyer’s agent, you can read Property Observer’s comprehensive<a href="/expert-insights/buying/select-your-buyers-agent-wisely-what-you-need-to-consider"> introduction to the factors you should consider before paying someone to act on your behalf</a>.
You might also want to read <a href="/news/how-buyers-agents-pick-the-best-performing-properties">this Q&amp;A with a number of buyer’s agents about their tactics and techniques in finding and purchasing the best investment properties</a>.
However, there are some simple things you can ask a buyer’s agent to quickly get a shortlist of those to consider.
The Real Estate Buyers Agents Association (REBAA) president Jacque Parker says that as well as the questions you should ask below, you also want to know if they’re accepting a fee from any other party or parties besides yourself in the transaction.
“Some agents calling themselves ‘buyers’ agents’ have actually been taking a fee from a selling agent’s commission, yet claiming to work for the buyer,” warns Parker.
“This is a clear conflict of interest because effectively they are representing the vendor, they’re not acting solely on behalf of the purchaser.”
She also notes that it’s worth asking for accreditation to associations and peak bodies, such as REBAA.
Here are their five questions to ask:
<ol>
<li>
How experienced is the buyer’s agent? Many have set up without prior, or field, experience. Make sure they have local experience in the areas you’re considering. 
</li>
<li>
Do they operate as an exclusive buyer’s agent? Ensure that they are being truly exclusive and don’t receive kickbacks or commissions. If they do, they may not be impartial. 
</li>
<li>
Are they a licensed buyer’s agent? Agencies can be licensed in one state, but not others, and still advertise as able to purchase interstate. Ensure they hold qualifications for each territory or state you’ll be buying property in – the rules differ and they need to be licensed for each. Check with your local Office of Fair Trading for licensing requirements. 
</li>
<li>
What and where are their most recent purchases? View their recent purchases to get an understanding of their specialty. Not everyone is able to assist you with your preferred suburbs or areas. 
</li>
<li>
Can they provide recent client testimonials/references? Ask to speak to previous clients.</li>
</ol>
Source: REBAA
YOU MIGHT ALSO WANT TO READ
Investor warning: <a href="/news/investor-warning-is-your-buyers-agent-properly-licensed">Is your buyer's agent properly licensed?</a>
<a href="/expert-insights/investing/15-questions-to-ask-your-buyer-s-agent-wa-department-of-commerce">15 questions to ask your buyer’s agent: WA Department of Commerce</a>
Q&amp;A: <a href="/expert-insights/buying/q-a-should-buyers-agents-take-commissions">Should buyer's agents take commissions?</a>
</body></html>

Choosing a buyer’s agent? Five questions you should be asking: REBAA

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Comparison website Finder has put out a warning about high-risk home loans, after recording a jump in interest-only home loans and larger loans across the board.
In fact, 81% more Australians were searching for interest-only loans compared to the same period last year, Finder recorded.
Over a third of home loans financed since the March quarter to June quarter 2014 were interest only, at 35%. This is the highest level since the data was collected, according to Finder’s money expert Michelle Hutchison, and loans are now at a record high of $319,000.
This puts the average borrowing $24,000 higher than last year.
“It's a real concern to see borrowers taking on more risk because interest rates are at record lows and expected to rise next year, which means borrowers can find themselves in financial trouble if they take on more debt than they can afford,” said Hutchison.
“For instance, if interest rates rise back to historical average levels of 5%, it would cost borrowers with a $300,000 home loan an extra $400 per month or about $4,800 in one year.”
Difference in average home loan sizes in each state compared to last year:
<table style="width: 647px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="136">
State
</td>
<td valign="top" width="149">
July, 2014
</td>
<td valign="top" width="158">
July, 2014
</td>
<td valign="top" width="123">
Difference
</td>
<td valign="top" width="81"> </td>
</tr>
<tr>
<td valign="top" width="136">
NSW
</td>
<td valign="top" width="149">
$366,700
</td>
<td valign="top" width="158">
$336,000
</td>
<td valign="top" width="123">
+$30,700
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
VIC
</td>
<td valign="top" width="149">
$333,000
</td>
<td valign="top" width="158">
$293,300
</td>
<td valign="top" width="123">
+$39,700
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
QLD
</td>
<td valign="top" width="149">
$301,300
</td>
<td valign="top" width="158">
$282,200
</td>
<td valign="top" width="123">
+$19,100
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
SA
</td>
<td valign="top" width="149">
$263,100
</td>
<td valign="top" width="158">
$245,200
</td>
<td valign="top" width="123">
+$17,900
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
WA
</td>
<td valign="top" width="149">
$312,800
</td>
<td valign="top" width="158">
$296,400
</td>
<td valign="top" width="123">
+$16,400
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
TAS
</td>
<td valign="top" width="149">
$215,500
</td>
<td valign="top" width="158">
$208,300
</td>
<td valign="top" width="123">
+$7,200
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
NT
</td>
<td valign="top" width="149">
$341,300
</td>
<td valign="top" width="158">
$331,700
</td>
<td valign="top" width="123">
+$9,600
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
ACT
</td>
<td valign="top" width="149">
$329,700
</td>
<td valign="top" width="158">
$329,600
</td>
<td valign="top" width="123">
+$100
</td>
<td valign="top" width="81">
 
</td>
</tr>
<tr>
<td valign="top" width="136">
National average 
</td>
<td valign="top" width="149">
$319,000
</td>
<td valign="top" width="158">
$295,000
</td>
<td valign="top" width="123">
+$24,000
</td>
<td valign="top" width="81">
 
</td>
</tr>
</tbody></table>
Source: Finder, ABS
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How much more debt is being taken on in 2014 compared to 2013? Finder’s high risk warning

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A new record low fixed rate offering is now available at Bankwest, through the broker channel, across two fixed mortgage products.
The two-year fixed rate is now at 4.59%, down 19 basis points, with the three year fixed rate at 4.74%, down 10 basis points, for both the Complete Fixed Home Loan and the Fixed Rate Home Loan.
Borrowers can obtain these rates up to 90% LVR.
The Complete Variable Home Loan currently sits at 4.74%, with a comparison rate of 5.13%.
It is certainly<a href="/expert-insights/finance/record-low-fixed-rates-who-is-offering-them"> lower than the fixed rates of some of the major banks</a>.
ME Bank’s <a href="/expert-insights/finance/me-bank-takes-three-year-fixed-rate-lower">three-year fixed offering currently sits at 4.59%</a>, also a record low for the lender.
YOU MIGHT ALSO WANT TO READ:
<a href="/expert-insights/aussies-john-symond-fixes-his-investment-property-mortgage-rate">Aussie's John Symond fixes his investment property mortgage rate</a>
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Bankwest drops fixed rates to new record low

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.

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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.

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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.

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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.

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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."

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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.

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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.

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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.

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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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