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The small Victorian town of St Andrews, 36 kilometres north-east of Melbourne, has been identified as the second richest postcode in Australia.
According to figures released by the Australian Tax Office (ATO), residents in postcode 3761 earned more than those in all other postcodes but one, Sydney's 2027. The Sydney suburbs housing Australia's top earners – Darling Point, Edgecliff, Point Piper and HMAS Rushcutters – are no surprise. The area is home to some of Australia's richest individuals, and most expensive properties.
But after a 300% increase in earnings in the last year, St Andrews has joined the ranks of Australia's richest, with an average annual taxable income of $148,967. The top Sydney postcode of 2027 has an average annual income of $177,514. The result makes St Andrews the suburb with the highest average earnings of anywhere in Victoria, over Toorak and Hawksburn ($142,000), and Portsea ($138,800).
It is unclear what is responsible for St Andrews' recent income boost, but with just 655 residents (compared to 5,980 in postcode 2027 or 6,945 in Bellevue Hill), a big increase in a single family or individual's income over the year could have distorted the average figure.
Certainly, the St Andrews' properties currently on offer aren't approaching prices as high as those in Sydney's Bellevue Hill, Victoria's Toorak or Western Australia's Cottesloe, which all had lower average annual earnings.
One of the most expensive homes currently on offer in St Andrews is at <a href="https://www.realestate.com.au/property-house-vic-st+andrews-118105735" target="_blank">40 Charlber Lane</a> (pictured above), listed with a price guide of $1.95 million to $2.2 million.
The 20 acre property has a four bedroom house with travertine marble floors, under-floor hydronic heating, and a kitchen and dining area with 4.5 metre ceilings. Too few properties sold in recent months to calculate an accurate median price for the area.
Real estate agent Ian McDougall of Mason White McDougall Hurstbridge <a href="https://www.3aw.com.au/news/st-andrews-tops-the-list-as-victorias-wealthiest-suburb-20150428-1mvmhf" target="_blank">told 3AW this morning</a> that most homes in the area sell for between $500,000 and $1.2 million. He said the most expensive house he's sold in the area was for $2.5 million.
The top 10 highest earners list:
<img src="/images/2015/04/29/Picture%2064.png" alt="">
Source: ATO
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jrichardson-uRX5hFdKfN

St Andrews surprises as second on ATO's country's highest earners list

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Despite plentiful evidence about the positive impacts of good building design, developers and the public are not getting the picture, a group of building industry experts has concluded.
Partners of the CRC for Low Carbon Living's <a href="https://www.lowcarbonlivingcrc.com.au/research/program-1-integrated-building-systems/rp1009-closing-loop-evidence-based-low-carbon-design" target="_blank">Closing the Loop Project</a> spoke about the knowledge gap at workshops held in conjunction with this year's Green Cities conference.
Head of knowledge and sustainability at HASSELL Brett Pollard said people aren't taking advantage of the benefits of good design, despite the evidence and research available.
"Ultimately if you construct a building that does not take advantage of the evidence, organisations and businesses are missing out on the opportunity to create workplaces that are healthier and more effective," he said.
Design can impact financial, environmental and human factors in a business, according to research by Professor Vivian Loftness of Carnegie Mellon University, who spoke at the conference. According to Lauren Haas, Australasia Sustainability Manager for Brookfield Multiplex, poor design can also have a negative impact.
"For business, a low performance building can mean disengaged employees with low performance, higher levels of absenteeism and many thousands of dollars wasted per year in lost productivity," she says.
"If office workers, students or patients in hospitals are more informed about what can be achieved through high performance buildings they can help drive demand for these buildings."
Industry Director of Building Engineering at AECOM Lester Partridge cited Loftness' presentation at the conference.
"Vivian Loftness showed us a very powerful example in the workshop by comparing the decision making processes for a car, laptop and a building. People know more about the features of a car which may only be owned for 3-5 years or a laptop which might last two or three years than they do about the features of a building that will last in excess of 30 years.
"The conversation about high performance buildings needs to change and people need to be more aware of the true cost of buildings."
The Closing the Loop project intends to create an evidence base for the benefits of sustainable design, with an assessment and analysis system which helps decision making around commercial and public buildings.
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Benefits of good design not given enough attention: Closing the Loop

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While vacancy rates across Queensland are declining, Townsville's rental market has worsened since the start of the year, according to the Real Estate Institute of Queensland (REIQ).
Townsville's vacancy rate now sits at 5.9%, with the REIQ attributing the uptick to the city's unemployment issues.
Last month, <a href="/news/qld/high-unemployment-remains-a-restraint-for-townsville-market-herron-todd-white">Herron Todd White's Month in Review report</a> said Townsville's unemployment rate "remains a restraint" for the Townsville market.
Some mining regions showed slight improvements, with Gladstone's vacancy rate sitting at 3.8% after peaking at 7.7% at the end of 2013.
REIQ chief executive Antonia Mercorella said:
"Looking at the figures for Mackay, Rockhampton and Gladstone it is too soon to call this anything other than what it is – a glimmer of hope that a turnaround is imminent.
"We know that in Mackay the local government is focusing on diversifying its key industries and employment prospects are looking up."
However, not all mining towns are strengthening. The oversupply of rental properties in Bowen and Moranbah are contributing to the high vacancy rates in Isaac and Whitsundays respectively. Isaac's vacancy rate is 17.4%, while Whitsundays recorded a 13.5% vacancy rate at the end of March.
The Gold Coast, Brisbane and the Sunshine Coast are all classified as "tight" markets, with the Gold Coast and Sunshine Coast recording the lowest vacancy rates in the state.
"The Gold Coast has recorded its lowest vacancy rate in seven years, with just 1.3% of the market's rental properties vacant," said Mercorella.
"This is a strong indicator that other sectors of the economy may be rebounding and we are buoyed by this news."
<img src="/images/2015/04/29/reiq-april-29-bre.jpg" alt="">
 
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Queensland rental markets improving, but Townsville worsens: REIQ

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Darwin houses have the highest median time on market of those in any capital city, according to CoreLogic RP Data.
Houses in the Northern Territory capital were on the market for a median of 94 days, with an average vendor discount of 6.6%.
By contrast, Sydney houses had a median time on market of 26 days, with an average vendor discount of 4.5%.
Click charts to open in new window:
<a href="/images/2015/04/27/Picture%2053.png" target="_blank"><img src="/images/2015/04/27/Picture%2053.png" alt=""></a>
Source: CoreLogic RP Data
For houses, Hobart had the highest average vendor discount, at 7.4%.
<a href="/images/2015/04/27/Picture%2054.png" target="_blank"><img src="/images/2015/04/27/Picture%2054.png" alt=""></a>  
Source: CoreLogic RP Data
In the unit market, the Tasmanian capital highest average vendor discount, at 6.7%, and the highest median time on market, at 97 days.
<a href="/images/2015/04/27/Picture%2051.png" target="_blank"><img src="/images/2015/04/27/Picture%2051.png" alt=""></a>
Source: CoreLogic RP Data
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Hobart and Darwin topping vender discounting and time on market: CoreLogic RP Data

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The new season of Channel 7's reality renovation program, House Rules, returns to our screens next month. And host Johanna Griggs tells Property Observer that the contestants might have it harder this time than they ever have before.
The show, like some of the other competitive reality television programs currently on television, has tended to stack the competing teams with plenty of renovation professionals, whether plumbers, carpenters or cabinet-makers. But in the upcoming season, Griggs says, there is only one tradie among the competitors.
"They're absolute novices," she says. "They're the least experienced renovators that we ever had."
The results of the casting move, Griggs says, weren't always pretty.
"The first reveal, I said, 'oh dear'. The finishes weren't up to standard, and I was a little worried."
As in previous seasons, the contestants hail from all over Australia. House Rules sees the teams renovate each other's homes according to a set of "house rules", with the winning team having their mortgage paid off.
Among the novice competitors are father and daughter duo Steve and Tiana, from Western Sydney. The other teams will be renovating Steve's current house, which Tiana was raised in. Steve, the oldest competitor in this series, raised Tiana in the three bedroom 1960s brick.
The only team with professional trades skills are Bronik and Corinne, from Victoria. Bronik, a carpenter, lives with his girlfriend, Corinne, in the living room of the 1960s weatherboard.  The couple can't afford to renovate the home, which has only one habitable room.
There are no "baddies" among the contestants this season, according to Griggs.
"They're so lovely," she says.
"It's so hard getting the six homes done, and the six gardens, so there's no luxury of casting anyone who's nasty."
Last season, Tasmanian couple Brook and Grant were largely portrayed as villains. This season, the Tasmanian representatives are Cassie and Matt. Cassie says "the pressure is on" after Tasmanian couples were the first to be eliminated in previous seasons.
They live in a 1960s brick home in Hobart. Cassie works as a pharmacist while Matt is a swimming instructor training to be a P.E. teacher.
Ryan, of Adelaide, lives with his girlfriend and teammate Marlee. He purchased the house four years ago alone, and works two jobs to pay for what the couple calls "the ugliest house in Australia". Marlee works as a travel agent, and sees the competition as way to relieve Ryan's workload.
From Western Australia are married couple Karina and Brian, who have three children. Their house in Geraldton, north of Perth, sits on five acres, with ocean and mountain views. Although they bought it with the intention to renovate, they can't afford to make changes to the 1970s Spanish-style villa. At 42 and 44, they are the oldest team in the season.
While Brian does have some professional trades experience as a qualified timber framer, not all the contestants have an easy time at the beginning of the season, with Griggs saying some don't realise to do things like account for flooring when taking measurements for a room.
"With the first reveal, I was quite in shock at the standard, and maybe that's heartening," she said.
But the teams "improve dramatically"over the course of the season, she says. One of the hardest homes this season, she tells Property Observer, is in the first week, with contestants competing with mould and only one livable room. But Griggs says the house, presumably Corinne and Bronik's, has more than just shock value.
"You've got to remember that the man who owns it is the first man in his family who's ever owned his own home. So he's the most proud human being to own that place, and that's what makes it special."
Another house, she says, is obviously the product of an owner-builder "who just decided to rewrite the laws of building". With structural problems, Griggs calls the house "a basket case from start to finish".
While other renovation shows pitch themselves to a luxury market, Griggs says House Rules is more emotional, and relatable.
"The biggest point of difference is that its their own home," says Griggs.
"They're going to have to live in it."
The season premiere of the new season of House Rules airs on Channel 7 on Tuesday, 5 May.
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House Rules promises the toughest season yet

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Climbing home prices in Melbourne and Sydney have resulted in declines in Moody's home affordability measure despite low interest rates. Moody's also noted Melbourne and Sydney's "problematic" large loan sizes.
Households across Australia needed to use 27% of their income, on average, to make home mortgage repayments. The same ratio was recorded in March last year.
Click charts to open in new window:
<a href="/images/2015/04/27/moodys-april-27-one.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-one.jpg" alt=""></a>
In Sydney, however, households are using 35.1% of their income to make their mortgage repayments. In March 2014, Sydney households were putting 32.8% of their income towards their mortgage. March 2015's result is also higher than the city's 10 year average of 33.6%.
<a href="/images/2015/04/27/moodys-april-27-two.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-two.jpg" alt=""></a>
In Melbourne, mortgage affordability has also declined, with the share of income needed to make mortgage repayments increasing to 28.2% in March this year from 27.5% at the same time last year.
The Moody's Australian Housing Affordability Measure has remained constant on a national level, in part due to low interest rates. In Perth, affordability measures improved, due to declining home price, with the measure decreasing from 24.6% to 21.9%. Moody's noted Perth's exposure to falling commodity prices in its report.
The report called the affordability deterioration in Melbourne and Sydney "credit negative for new mortgage loans from these cities".
"The larger loan sizes and repayment obligations of new mortgages in Sydney and Melbourne are especially problematic since these mortgages are being underwritten at historically low interest rate," the report reads, noting an average Australian standard variable mortgage rate of 5.65%, while the 10-year average is 7.18%.
"Our forecast is for the RBA to cut the official cash rate - a key determinant of mortgage interest rates - by a further 25 basis points to 2% in 2015.
"However, borrowers who took out loans at historically low interest rates are at a greater risk of not being able to afford repayments when interest rates eventually rise.
"By contrast, mortgages underwritten at higher interest rates pose lower risk when interest rates rise, because borrowers' ability to service these loans has been assessed at higher interest rates."
Although there has been pronounced price increases in Melbourne and Sydney over the past two years, income growth has remained "modest", writes Moody's.
<a href="/images/2015/04/27/moodys-april-27-three.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-three.jpg" alt=""></a>
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Affordability "deteriorating" in Melbourne and Sydney: Moody's

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Vendors shied away from auctions this weekend out of respect for Anzac day commemorations.
According to CoreLogic RP Data, there were 550 auctions across Australian capital cities in the week to April 26. Last week, there were 2,603 capital city auctions.
There were around 150 auctions actually scheduled across Australia on Anzac Day, with many sold before auction.
<img src="/images/2015/04/27/core-april-27-one.jpg" alt="">
This week's auctions saw a capital city clearance rate of 84.3%, up from last week's 78.9% clearance rate.
Sydney recorded an a particularly high clearance rate of 91.1% over the week. There were 249 auctions there in total, with RP Data collecting results for 192 of those auctions. The clearance rate, likely bolstered by the low number of auctions on the weekend, comes after a record breaking 87% clearance rate in Sydney last week, when 988 auctions took place.
On week last year, which did not have Anzac Day fall on a Saturday, Sydney recorded a 71.3% clearance rate.
There were 169 auctions in Melbourne this week, with a clearance rate of 87.4%. Last week, 1,266 auctions occurred across Melbourne, with a 79.5% clearance rate. Melbourne's inner city and the inner south region were particularly busy this week, despite the Anzac day commemorations, with around 26 auctions occurring in each area.
<img src="/images/2015/04/27/core-april-27-two.jpg" alt="">
Last week, Victorian premier Dan Andrews called conducting auctions on Anzac Day "<a href="/news/reiq-says-agents-ought-not-trade-on-anzac-day-while-victoria-likely-to-introduce-ban">pretty ordinary</a>", while the Real Estate Institute of Victoria discouraged agents from auctioning properties on the day.
In Brisbane, there were 39 auctions. Of the 11 results reported so far to CoreLogic RP Data, 10 were sales. The previous week, there were 140 auctions held across the city, with a 46.4% clearance rate. The Gold Coast recorded 32 properties up for sale, with sales comprising around half of the reported results.
The Real Estate Institute of Queensland also instructed members to avoid auctioning homes on Anzac Day.
Adelaide had 59 auctions scheduled for this week. So far, 20 results have been reported to CoreLogic RP Data, with a 55.0% success rate. Last week, there was a 69.7% clearance rate across the city's 97 auctions.
Just 10 auctions took place in Perth this week, with just two results reported. In Canberra, there were 23 auctions, with 11 of the 14 reported auctions resulting in success.
Just one Tasmanian property was auctioned this weekend, resulting in a sale.
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Buyers keen to bid on 550 capital city Anzac week auctions: CoreLogic RP Data

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There were 9,362 private treaty house sales and 4,973 private treaty unit sales across the capital cities in the past four weeks, according to CoreLogic RP Data.
<img src="/images/2015/04/27/Picture%2061.png" alt="">
Source: CoreLogic RP Data
Private treaty sales generally represent around 85% of all dwelling sales across the country. However, in the most recent period they may have made up a greater proportion sales, given that most avoided auctioning their homes on Anzac day. There were around 150 auctions actually scheduled across Australia on Anzac Day, with many sold before auction.
<img src="/images/2015/04/27/Picture%2062.png" alt="">
Source: CoreLogic RP Data
Only 550 auctions occurred this week, according to CoreLogic RP Data's preliminary figures.
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14,335 capital city private treaty sales in past four weeks: CoreLogic RP Data

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The northern suburbs region of Playford recorded the highest proportion of loss making resales of any Adelaide local government area in the December quarter, according to CoreLogic RP Data.
In the December quarter, 23.6% of all Playford home resales resulted in a loss. The northern suburb region, which includes Elizabeth, Smithfield, Munno Para, Angle Vale and Yattalunga, had a median loss of $14,000.
While it recorded the highest share of loss-making resales, Playford's median loss was more modest than many other Adelaide regions. In Unley, for example, where only 1.3% of December quarter sales resulted in a net loss, the median loss was far more severe, at $104,750.
In total, $1.3 million was lost by Playford vendors in the final quarter of 2014.
<img src="/images/2015/04/24/smithfield-april-24-one.jpg" alt="">
Vendors paid $213,000 for <a href="https://www.realestateview.com.au/Real-Estate/40-charta-circuit-smithfield/Property-Details-buy-residential-8206940" target="_blank">40 Charta Circuit</a> in Smithfield (pictured above) in 2007. The three bedroom house sold earlier this month for $205,000.
Across Adelaide, losses were trending downwards. In the December quarter, 8.9% of all Adelaide resales occurred at a loss, which CoreLogic's Pain and Gain report noted was the lowest loss rate recorded in Adelaide since the year to November 2011.
Mallala was the only Adelaide region to record no losses in the December 2014 quarter, although many would regard it a separate town. The region, north of Adelaide, had an 100% success rate, with a median profit of $95,000.
 
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Playford region records Adelaide's highest proportion of loss making resales: CoreLogic RP Data

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It was a 50/50 split in Perth's affluent Peppermint Grove in the December quarter, according to the latest CoreLogic RP Data Pain and Gain report.
The research firm only recorded two home sales in the local government region in the final quarter, with one loss and one profit-making sale.
The vendors of <a href="https://www.realestate.com.au/property-apartment-wa-peppermint+grove-117769579" target="_blank">5/22 Stirling Street</a> (pictured below) in Peppermint Grove lost out on their November sale. The unit sold for $380,000, $15,000 less than their December 2011 purchase price of $395,000.
<img src="/images/2015/04/24/peppermint%20grove%20april%2024%20one.jpg" alt="">
The property's price reached its peak in 2009, when it traded for $415,000. Since 2007, the unit has been used as a rental property. In September 2007, it was advertised to rent at $320 per week, but in late 2008 its advertised rental rate descended to $300 per week. It's now rented out for $380 per week, with it selling in November at a 5.2% yield.
While CoreLogic RP Data only recorded two sales  in Peppermint Grove for the December quarter, a search through listings reveals more, including the sale of <a href="https://www.realestate.com.au/property-house-wa-peppermint+grove-117961647" target="_blank">46R Irvine Street</a> (pictured below), which sold in November. The home sold for $2.5 million, with the vendors paying $1.68 million in 2005.
<img src="/images/2015/04/24/peppermint%20grove%20april%2024%20two.jpg" alt="">
While Peppermint Grove's low sales volumes gave it the highest proportion of loss-making sales for the quarter, as recorded by CoreLogic, other regions had many more happy vendors. In the south-eastern region of Canning, which includes Cannington, Parkwood, Queens Park, Shelley and Wilson, only 1.4% of home resales made a loss.
Those that did make a loss had an average hold period of 1.9 years, with a median loss of $14,000. For profit-making sales, the average hold period was 9.5 years, with a median profit of $298,000. In total, Canning vendors made $87.4 million in the December quarter.
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Mixed result in Perth's Peppermint Grove: CoreLogic RP Data

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

Jessie Richardson

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