<html><body>
An average of 366,300 people moved interstate within Australia each year during the 10 years to June 2010.
The main movements were northward to Queensland, but this slowed in the 2009-2010 financial year, according to the latest data released by the Australian Bureau of Statistics.
With 42,000 annual relocations, the most prevalent moves were from New South Wales to Queensland in 2009-10. The counter-flows from Queensland to New South Wales ranked the second largest (35,400 people), followed by the flows from New South Wales to Victoria (22,700 people) and Victoria to New South Wales (20,100 people).
Queensland (25,900 people), Western Australia (1,600 people) and Tasmania (160 people) were the only states to record average annual net interstate migration gains over the past decade.
However, Queensland’s gain has gradually declined since the 10-year peak in 2002-03, when Queensland gained 38,000 people, to a 10-year low in 2009-10 with a net gain of 9,600 people.
Western Australia recorded an average net gain in the past 10 years due to the gains recorded from 2003-04 onwards.
Tasmania's numbers fluctuated throughout the past decade, with slightly more net gains than net losses.
New South Wales recorded the largest annual average net loss (23,700 people) followed by South Australia (3,000 people), the Northern Territory (640 people), the Australian Capital Territory (200 people) and Victoria (180 people).
Only New South Wales and South Australia recorded a net loss from interstate migration for each year from June 2000 to June 2010.
All states and territories experienced a significant change in interstate migration in 2008-09 than in 2009-10.
Of all states and territories, Queensland continued to record the largest net gain in interstate migration in 2009-10 (9,600 people). However, this net gain was distinctly smaller than net gains in previous years.
Queensland’s net gain in 2009-10 was nearly 50% lower than the 2008-09 net gain (18,400 people) and 75% lower than the 10-year peak gain of 38,000 people in 2002-03.
In 2009-10, net gains were also recorded by Victoria (2,600 people), Western Australia (2,000 people) and Tasmania (320 people). For Victoria, the net gain was up 700 people from the previous year while Western Australian's net gain was down 4,800 people from the previous year.
Tasmania continued its recent positive net interstate migration in 2009-10 (320 people), but it was considerably less than the peak net gain of 2,600 people in 2003-04.
New South Wales continued to record the largest net loss of all states and territories in 2009-10 (10,500 people). However, the loss of people from New South Wales was less than at any time during the 10 years to June 2010.
The NSW loss in 2009-10 was slightly more than half the loss from the previous year and roughly two-thirds down on the 10-year peak loss of 32,500 in 2002-03.
In 2009-10, a net loss was recorded by South Australia (3,000 people), continuing the series of losses over the 10-year period. The Australian Capital Territory also recorded a net interstate migration loss (70 people) although this was less than the 2008-09 loss of 820 people.
In 2009-10, the Northern Territory experienced the greatest impact from both interstate arrivals and interstate departures. These flows represented 6.9% and 7.2% of the Northern Territory's population respectively.
The Australian Capital Territory experienced the next greatest impact, with a 5% and 5.1% change in its population through interstate arrivals and departures respectively.
Victoria's population felt the lowest impact from interstate migration flows, with a 1.1% change through both its interstate arrivals and departures.
</body></html>

jchancellor-FAypfDUnLy

Queensland still a drawcard, but fewer Aussies moving north

<html><body>
Queensland vendors in competitive residential sales markets could negotiate lower estate agent selling fees after the Queensland Government’s move to deregulate selling commission rates.
Agents currently get 5% for the first $18,000 on a property sale and 2.5% on the balance above that.
Under the proposed new commission structure, home sellers and real-estate agents will negotiate the selling fee.
The decision was announced by the Queensland Deputy Premier Paul Lucas, who argued the deregulation process would bring Queensland into line with all the other states and territories.
"The problem with the current fixed commission system is it does not take into account the circumstances such as the saleability of a property or the amount of effort required for it ultimately to be sold,” Lucas says.
"It will not be introduced at the expense of consumers.”
Real Estate Institute of Queensland chairwoman Pamela Bennett has suggested she believes the status quo commission would remain for the majority of properties, “but if they're remote or more service is needed to sell, then commissions may be negotiated up".
"While there may be perceived concerns that deregulation may lead to increases in commissions, the experience in other jurisdictions shows that this is not the case, and QCAT (Queensland Civil and Administrative Tribunal) is there as an added protection,” Lucas says.
"Deregulating commissions for the purchase or sale of residential property is expected to lead to increased competition in the industry, which will benefit both consumers and agents.
“Any changes will have strong consumer protections, including strong disclosure, and QCAT will be given the jurisdiction to deal with situations where it is alleged by a seller that a commission is harsh and unconscionable."
Lucas says over the years there have been numerous national and state reviews recommending the deregulation of real estate commissions.
“It is also strongly supported by the real-estate industry,'" he says.
Bennett envisages commissions linked more to the service offered, not the property price.
"It could be as much or more effort to sell a $300,000 property as a $700,000 property, and the agent should be able to charge for the service provided," Bennett told AAP.
Lucas says QCAT would be able to set aside the commission or vary the terms of any relevant commission contract and substitute a “fair” commission.
"QCAT will be an accessible and affordable option where parties can represent themselves in dealing with these disputes,” Lucas says.
</body></html>

Queensland to deregulate agent fees

<html><body>
The Middle Eastern company Hassad Foods, through Australian representatives, has been pinpointed as set to spend $45 million on five large western Victorian properties, according to Stock &amp; Land.
It follows the Qatar-based company’s previously announced plans to invest US$500 million in real estate across the world to supply the equivalent of 35% to 40% of its annual sheep, meat and grain requirements. The company plans to spend US$350 million in Australia.
Hassad is an arm of the government-owned Qatar Investment Authority, and its Australian representative, Bydand Pastoral Company, offered no comment on the mooted purchase. Bydand is the manager and operator of agricultural farming assets in Australia on behalf of third-party investors.
Stock &amp; Land suggest the five western Victorian properties expected to be sold to Hassad Foods include the 1,310-hectare Watgania, the 1,500-hectare Merrimbula, the 2,826-hectare Barton Station near Willaura, the 1,610-hectare Brierly property and The Morass, a 1,050-hectare block near Dunkeld.
Hassad Foods, through BPC, paid about $25 million for the 2,630-hectare Strathdownie property Kaladbro Estate last year, and bought the 125,300-hectare Clover Downs, south-east of Cunnamulla in Queensland, for $18.5 million.
Hassad has also bought more than $20 million worth of properties in central west New South Wales. This included 6,800 hectares in the Canowrindra district, including Jindara, bringing its Australian holdings up to an estimated 135,000 hectares.
In 2010, Hassad Foods said it was aiming to turn off 150,000 sheep within three years from its Australian operations.
</body></html>

Hassad Foods set to expand its Australian farmland holdings

<html><body>
{yoogallery src=[images/stories/June15lyndhurst]}
28 Lyndhurst Crescent, Hunters Hill, NSW, 2110
Corporate lawyers Dominique and Andrew Robinson of Robinson Legal have listed their three-storey Hunters Hill riverfront residence with rooftop deck. The seven-bedroom, six-bathroom house has more than 1000 square metres of space under the roof. It has a study, home cinema, billiard room, gym, sauna and spa. There is a deepwater jetty and a boat ramp.  The couple, who have represented Paul Hogan and John Cornell in their tax litigation, have decided to move closer to their Kent Street office. Two of their three children now live overseas. The Lyndhurst Crescent residence has been their home for almost 18 years. They have appointed Simon Kersten and Murray Wood from <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential/Buying/Off%20the%20plan%20or%20established%20homes.aspx" title="Colliers International" target="_blank">Colliers International</a> to market the home for June 24 tender. About $10 million is tipped for the house, which was built in 1992 and has been refurbished several times since.
 
{module 238} 
</body></html>

Riveting riverside

<html><body>
Reserve Bank governor Glenn Stevens has suggested it is no coincidence that the two state capitals that have had the clearest evidence of declining house prices over the past couple of years – Brisbane and Perth – were the two that previously had the highest rate of population growth and that have since had the biggest decline in population growth.
Stevens noted that significant changes in housing cost relativities between states had played an important role. He said that up to 2007, people were confident and finance was readily available in Queensland.
“Brisbane housing prices, which had been a bit over half of the average level of Sydney and Melbourne prices in 2002, had risen to be almost the same by 2008, which was unusually high.
“The rate of interstate migration to Queensland then slowed further, to be at its lowest in at least a decade,” he says.
“The effects of that on state population growth were compounded by a decline in international migration, something seen in all states. At the same time, finance became more difficult to obtain and lenders and borrowers alike became more risk-averse.
“This happened everywhere, but its effects in Queensland seem to have been more pronounced,” Stevens says.
“Since then, Brisbane housing prices have been declining relative to those in the southern capitals and the construction sector here has found it tough going.
“So a complex interaction of forces – the commodity price cycle, the financial cycle, population flows, endogenous responses of housing prices that then feed back to population flows and so on – has been occurring.
“The ebb and flow of these forces has made for differences in performance, first in one direction, then the other,” Stevens concluded.
</body></html>

RBA's Glenn Stevens pinpoints Queensland's imperfections

<html><body>
Australia’s home loan delinquency rate now sits at an alarming high.
And the recent east coast natural disasters are nowhere near as much to blame as everyone’s been making out.
JPMorgan points the finger directly at home loans issued in 2009.
They were the home purchases made when interest rates fell to emergency lows to fight the global financial crisis.
They coincided with the first-home owners' grant being doubled and the $900 cash grant boosting consumer confidence levels.
The 2009 buyers were ripe for the borrowing, with Westpac and Commonwealth Bank then the keenest at lending into the robust first-home loan market.
JPMorgan says mortgages issued or refinanced in 2009 make up 20% of the current total arrears.
“We see clear potential for higher interest rates to drive arrears higher,” JP Morgan has ominously forecast.
“In particular, any further increase in interest rates would see the 2009 vintage loans exceed the affordability tests set at the time they were taken out.”
"First-home owners used the falling cash rate to increase the average amount borrowed by 25%,” the JP Morgan report's author, Scott Manning, says.
“First-home owners were not alone in expanding their gearing.”
Manning rightly reckons unemployment has traditionally been the key driver of mortgage delinquencies.
“But the gearing up of households over the last decade has seen them become a lot more vulnerable to increases in the mortgage rate.”
The Fitch report only measures the performance of Australia's so-called securitised loans rather than those funded by deposits from the big four banks, so it’s not therefore a true reflection of the entire home loans. Fitch’s analysis of 1 million mortgages over-represents those from the smaller banks and the non-bank lenders. As of March 2011, securitised mortgages represented 17% of all Australian mortgages by volume.
But it is concerning that Fitch concluded one in 400 borrowers had become delinquent since September 2010.
“As the Australian economy and unemployment are still solid, the increase in the mortgage rate and the increased cost of living remain the main variables affecting household affordability,” Fitch concludes.
In terms of mortgage performance, those regions historically labelled the “worst-performing” have been affected most by Christmas spending and increasing interest rates.
South-western Sydney and the Central Coast north of Sydney, the Gold Coast in Queensland and the south-west region in Western Australia are still experiencing delinquency rates far above the national average.
Fairfield-Liverpool continues to be the worst-performing region in Australia, with one mortgage out of 60 being in arrears and a 30+ day delinquency rate of 2.81%.
Regions in Queensland took four of the 10 worst-performing slots at end March 2011, up from just one back in September 2010, as the Gold Coast and Logan City experienced a considerable deterioration in delinquencies.
Overall performance in Western Australia has been stable, although 30+ delinquency rates were still high at 1.99% as of March 2011.
Looking on the bright side, Victoria has five of Australia’s 10 best-performing districts when it comes to mortgage delinquencies. They were Boroondara City, northern middle Melbourne, eastern middle Melbourne,  inner Melbourne and southern Melbourne.
Victoria’s overall delinquency rate stood at 1.34%, considerably lower than New South Wales (1.93%) and Queensland (2%).
Melbourne performed better than the rest of Victoria, with a delinquency ratio of 1.29%.
Despite having five of the nation's 10 worst-performing regions, Sydney also had two of the best. NSW”s lower northern Sydney district sits as the best-performing region in Australia, with just five mortgages out of 1,000 delinquent at the end of March 2011. Sydney’s eastern suburbs sat in fourth place, according to the Fitch Ratings survey, with just 0.65% of mortgage holders behind on payments.
Fitch analysed 80,000 mortgages in South Australia, with overall delinquencies below the national average at 1.54%, up only slightly from September 2010 (1.3%).
Tasmania had a 1.37% arrears rate.
The Northern Territory was the best-performing district in the country, with a delinquency ratio of 1.04% as arrears in the Australian Capital Territory increased to 1.09%.
</body></html>

Flood of money, not the skies, to blame for home mortgage delinquency

<html><body>
New Zealand commercial property has become increasingly attractive to Australian investors given the effects of New Zealand’s property price deterioration. The rise in the value of the Australian dollar during the past two years against New Zealand’s currency has been a strong motivation for the buying interest from Australia.
Mortgage interest rates in New Zealand are more than 2% lower than they are in Australia, increasing the attractiveness of buying for investors who sourced their funding from New Zealand banks.
Last week an Auckland CBD office building providing a rental yield of just under 9% was sold to an Australian, with the buyers borrowing half of the price from a local bank at a fixed 6.5% interest rate for five years.
“So that was a really good arbitrage opportunity,” says Bruce Whillans, director of Ray White Commercial.
Last month Whillans promoted a portfolio of New Zealand commercial properties to Australian buyers – and says ever since he has been busy picking up investors arriving from Sydney and Melbourne.
An Australian private investment fund Whillans has been dealing with has invested A$400 million (NZ$515 million) in Australia over two years and is now shifting its attention to New Zealand, he says.
Some buyers are looking for B-grade office buildings in Auckland CBD, attracted by their high yields, and others are looking for distressed assets, mortgagee sales or undervalued land for development opportunities.
Whillans says Australians like the fact that New Zealand property trends are at least 12 months behind those in Australia, where the market is already in recovery mode.
Whillans purchased the Ray White Auckland regional commercial sales franchise in early 2010, having sold more than $1 billion worth of commercial property during his 25-year career.
In May Whillans said the New Zealand market was returning to positive growth following a three-year downturn.
“This, coupled with the Australian dollar sitting at a 10-year high to New Zealand, puts Australian investors in a strong position to take advantage of firming yields and a potential exchange rate play,” Whillans says.
"We have fielded interest from sophisticated unlisted property funds based in Australia as well as high-net-worth privates and even developers who are attracted by the exchange rate.
"They see the two markets as sharing similar fundamentals, particularly Auckland, with the strongest motive being the exchange rate followed by our lower cost of funds and attractive yields,” Whillans says.
"We are probably 12 months behind the kind of recovery cycle Sydney and Melbourne are experiencing, and can offer better buying as a result."
Whillans says New Zealand government policy encourages foreign investors with a high overseas investment threshold and no stamp duty, land tax or capital gains tax.
</body></html>

Aussie investors find Kiwi market offers low-hanging commercial  fruit

<html><body>
Queensland is ranked as the worst-performing state for mortgage arrears, with a rise to 2% of mortgages in default as at March 2011, meaning one in 50 Queensland mortgage holders cannot pay their lenders on time. This is up from 1.54% six months earlier, according to Fitch Ratings in its analysis of mortgage performance. The report notes the natural disasters such as the December/January floods were not the main factor in the rise in delinquency rates in Queensland, with unaffected regions including the Gold Coast and Logan City strong contributors to the increase in the state's delinquency rate.
Although the report noted delinquencies in certain postcodes located in flood-affected areas had increased, it suggests the Queensland arrears spike was beginning to emerge before the floods and Cyclone Yasi.
Fitch points to the state’s 6.6% unemployment rate in February, which was the highest in six years.
"The higher unemployment rate in conjunction with the increase in interest rates and the floods has severely impacted households' serviceability," says James Zanesi, associate director in Fitch's structure finance team.
"The longer-term concerns regarding affordability will now depend on future monetary policy decisions, as well as the increased cost of living."
The number of loans considered to be 90 days in arrears in Queensland was attributed to troubled properties not being easy to sell in a flatlining property market.
The Fitch report analyses the performance of the local residential mortgage market using data covering approximately 17% of all mortgages in Australia – more than 1 million loans – with a total outstanding balance of more than $186 billion.
 
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/thefitchfig41.gif"><img src="/images/stories/fitchfig41thumb.gif"></a>
 Across all 76 Australian regions the regions that have historically higher-than-average delinquency rates continue to dominate the list, including Sydney's south-western suburbs and the Central Coast.
Queensland’s Logan City is the new worst-performing region in Australia, with one delinquent mortgage out of every 48. The Queensland postcodes 4132 (Crestmead/Marsden) and 4114 (Kingston), both in the Logan City region, were the worst performing postcodes in Australia, with 3.3% of borrowers in arrears by one or more payments. It is the first time in the history of the report that Queensland was the worst-ranked state.
Fairfield-Liverpool in New South Wales continues to be the worst-performing region in Australia by mortgage balance size, with a 30+ days delinquency rate of 2.99%. Mortgage performance in metropolitan Perth improved in the six months to March 2011, with the improvement mainly due to a strong decrease in 90+ days delinquencies. Arrears levels in Victoria increased over the six months to March 2011, although the state is still performing well, with an overall delinquency rate of 1.34%, which is considerably lower than the other large states of New South Wales (1.93%) and Queensland (2%).
Zanesi notes that future developments in Australian monetary policy, increasing cost of living and the housing market may continue to affect delinquencies during 2011.
In the event of further interest rate hikes, the agency believes that regions that have shown sensitivity to interest rate movements will continue to be the most affected.
A softening of the housing market in specific geographical areas may also affect total delinquencies, with 90+ days arrears expected to accumulate as properties are sold at a slower pace.
</body></html>

One in 50 Queensland mortgage holders is in arrears

<html><body>
With just the fourth prestige Southern Highlands sale in the past three years, retired Compaq executive Ian Penman and his wife, Ayesha, have finally sold their Sutton Forest holding, The Chase.

The restored and extended five-bedroom 1880s house, which sits on 40 hectares, sold through Bill Carpenter from W. Mcl Carpenter &amp; Associates at Bowral.

Its sale price has not been revealed, although the recent marketing indicated the $7 million expectations sought in October 2010 were not being pursued. It had been listed in 2007 with double-digit million hopes.

Local agents considered a $6 million selling target was more achievable given there had been just three sales at $5 million or higher across NSW’s Highlands since mid-2008.

[smartcode_project:default project_id=94822]

Tarranlea, with a 744-square-metre ridgetop residence on 140 hectares at Werai, is 2011’s highest recorded sale at $5 million.

The highest sale in 2010 was an 84-hectare holding, Binya Farm, at Robertson which fetched $6.1 million through Bill Bridges at Ballard Property in conjunction with Carl Hilder .

There was a $6 million sale at Glenquarry when businessman John Dougall and his interior decorator wife, Suzanne, sold their 18-hectare property Runnymede. The five-bedroom house sold through Drew Lindsay at Drew Lindsay Real Estate Bowral to company director David Baffsky and his wife, Helen. The Kangaloon Road house was rebuilt by the Dougalls on the rural parcel, which has frontage to Lake Wingecarribee. The property has a tennis court, stables, seven paddocks, native woodlands, four dams and a 200,000-litre underground tank. It last traded when bought for $2.9 million in 2004 from the Malouf family, who had paid $730,000 in 1994 for the then Hereford cattle operation.

The Sutton Forest property Bunya Hill, a 45-hectare estate with an 1878 sandstock mansion, was sold in early 2008 for $6 million to actor Nicole Kidman and singer Keith Urban. It was sold by head of global markets at National Australia Bank Peter Coad and his wife, Helen, through Drew Lindsay, in conjunction with Martin Schiller from Sotheby's.

[smartcode_project:default project_id=92985]

The Chase, which has a reception hall, formal sitting room and dining room, billiard room and living room last traded when bought from insurance industry operative Rob Porter in 1996 for $2.6 million.

It was marketed by Carpenter as one of the very few true, great estates within the New South Wales' Southern Highlands.

It originally formed part of the Newbury Land Grant made to Australia's first Harbour Master, Captain John Nicholson.

Set on Oldbury Road, it is four kilometres to the Moss Vale town centre and 130 kilometres south of the Sydney CBD.

The main residence was built in the late 1880s and completely restored in 1989-1990. It sits in walled gardens credited as among the most beautiful in the Highlands, with three hectares of sweeping lawns, hedged and walled gardens and exotic trees.

The centrepiece of the garden is an expansive ornamental lake along with a pool and tennis court.

It also comes with stables, barn, grooms quarters, cattle and horse yards, and sheds.

The highland’s record stands with Comfort Hill, a Sutton Forest farm sold by adman Michael Ball and his wife, Daria, for $15 million in 2007 to the television industry pioneer Reg Grundy. It nearly doubled the record for a Southern Highlands hobby farm. The 200-hectare property sold through Meares &amp; Co agent Chris Meares in conjunction with Christie's agent Ken Jacobs.

[smartcode_project:default project_id=94814]

During the time they occupied the farm, the Balls extensively renovated and extended the home, as well as setting out a substantial garden of six hectares, which includes a lake containing more than 10,000 yellow Japanese water iris. Comfort Hill's settlement dates to the 1830s, when it was taken up by John Morrice, who owned a plantation in Barbados. The Morrice family, after subdividing the property into two lots, Eling Forest and Comfort Hill, sold Comfort Hill in 1839 to the Davis family of Queensland graziers. The Davises occupied the property until 1983.

The area's previous record was set in 2005 when Mittabah, at Exeter, was sold for $8.65 million to property developer James Vertzayias and his wife, Eugenie, by the Scottish-born businessman Sir Arthur Weller and Lady (Marea) Weller. The Wellers bought the then 89-hectare property for $3.15 million in 1989 and shortly afterwards added 29 hectares at a cost of $450,000.
</body></html>

Southern Highlands buyer found after four-year pursuit

<html><body>
The May sales figures of Australasian real-estate group Ray White remained steady at $2.1 billion, mirroring the $2.1 billion total in April.
But Ray White’s monthly figures reflect a revival in upmarket sales activity. Its top offices during May were Surfers Paradise in Queensland, Double Bay and Neutral Bay in NSW, and from Victoria, Glen Waverley and Epping.
Group chairman Brian White says given prevailing negative headlines, some buyers and sellers might assume that the sales market was chaotic.
“Yes, prices have eased in many locations. Yes, there are fewer sales, but nowhere near the horrific changes some are proclaiming,” White says. In April White noted the continued impact of recent natural disasters, Brisbane’s floods, Christchurch’s earthquake and the north Queensland cyclones.
White noted the natural disasters had triggered the sales figures to drop in April to $2.1 billion, some 15% less than April in 2010.
Sales in all three localities fell by more than 30% on the previous year.
“The consistency of the drop was remarkable,” White says.
“Take away the impact of these particular markets and the overall drop, year on year, comes down to just 10% – with approximately half of the drop to each of reduced values and reduced transaction activity.”
But it was the first April that matched its preceding March total.
The most positive signs of improvement across the group in April were from New Zealand.
“How quickly market sentiment can change when there is an interest rate drop, with a 0.25% interest rate drop at the beginning of the month quickly impacting particularly in Auckland,” White says.
“Faith in the future strength of both countries remains rock solid, leading to continued buyer enquiry. Buyers want good value, and if they can get it, they will commit.
“Market commentators often are unable to sense this level of buyer activity, but we’re seeing it every weekend at our open homes,” he says.
Queensland prices now reflect the best value in the nation, White says.
</body></html>

Ray White sales hold steady

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News