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<p>The disruptive proptech company, the British real estate agency Purplebricks has set up office in Sydney, though its business is pitched currently elsewhere.</p>
<p>It has secured a short-term lease for a 300sq m office to use as its first headquarters in the the Coca-Cola building on Macquarie Street. </p>
<p>Cadigal Office’s Nicholas Mulcahy and Knight Frank’s Jessica Roberts negotiated a gross annual rent of $550 a square metre.</p>
<p>Given its is set to be converted into luxury apartments, the group's lease is for six months to March 2017.</p>
<p>It reportedly could not find suitable larger premises in a tight Sydney office market.</p>
<p>The company will seek about 600 square metre space next year. </p>
<p>After establishing a presence in Melbourne and Brisbane, Purplebricks will be rolled out to Sydney and the other capital cities </p>
<p>The Australian business is being led by Ryan Dinsdale, the former marketing director of Virgin Money.</p>
<p>London-based Purplebricks chief executive officer Michael Bruce reckons Australia's "infatuation" with real estate, but dislike of the way traditional estate agents operate, will fuel the success of his company.</p>
<p>The British estate agency, which operates a fixed-cost, high-tech model, was recently launched with 50 "local property experts" and a $17.2 million marketing budget to spread the word among home sellers.</p>
<p>They will be charged a flat $4500 fee to sell their home through Purplebricks.</p>
<p>For those selling a $614,000 median-priced home (according to the ABS), this will be $11,500 cheaper than if they used a traditional estate agent charging a 2.2 percent commission.</p>
<p>Home sellers will also get access to Purplebricks' bespoke online platform</p>
<p>It grew to 300 local property experts in the UK in less than two years.<span style="font-size: 12.16px;"> </span></p>
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jchancellor-FAypfDUnLy

Purplebricks arrives in Sydney

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<p>Trade creditors are owed at least $12.5 million in the collapse of Bob Day's Home Australia group of building companies.</p>
<p>The ASX-listed Brickworks is among the hundreds of suppliers and trades people who will be contacting the liquidators McGrath Nicol who are still assessing the full extent of the collapse.</p>
<p>Brickworks had liabilities in excess of $1 million to Senator Day's group, its chief executive Lindsay Partridge said.</p>
<p>"Bob is a good friend and a great customer," Mr Partridge told <em>The Australian Financial Review</em>.</p>
<p>"It's a shock for us. We were supplying them nationally."</p>
<p>The housing group went into liquidation on Monday, leaving up to 230 houses around Australia still under construction.</p>
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Brickworks owed $1 million by Bob Day's Home Australia

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<p>The model Jennifer Hawkins and her husband Jake Wall have listed their redundant North Curl Curl home for November auction.</p>
<p>Innovatively designed by her favourite architect Koichi Takada, the <a href="https://www.realestate.com.au/property-house-nsw-north+curl+curl-123834590" target="_blank">five bedroom, three bathroom home</a> has a resort style feel.</p>
<p>The former Miss Universe and her builder husband Jake are off to their waterfront Newport forever home.</p>
<p>There are just the five North Curl homes currently up for sale, with 28 house sales so far this year compared to 40 during the same 10 months last year.</p>
<p>Most of the twitter commentary <a href="https://www.propertyobserver.com.au/https://twitter.com/pdjenkins007/status/454367465347092481/photo/1" target="_blank">was about her shoe collection</a> last time with the inevitable Imelda Marcos comparisons. Jen simply calls it a shoe wall.</p>
<p><a href="https://www.realestate.com.au/property-house-nsw-north+curl+curl-123834590" target="_blank">The November 3 auction offering</a> was posted online without any price guidance on the web or back to inquiries.</p>
<p>They paid $1.66 million in 2013 for the block.</p>
<p>The former Miss Universe and her builder husband Jake have spent $4 million on two adjoining Newport properties in 2014 on which they are building their forever home.</p>
<p>The approved plans shows construction set at $2 million for soon to be completed building project.</p>
<p>The Koichi Takada-designed Newport home will be set in gardens planted by the Secret Gardens company on the bushland block. </p>
<p>It's four storeys with its pool and sunken lounge on another lower level virtually on the foreshore.</p>
<p>The couple have downsized their impressive property portfolio in recent years.</p>
<p>Some $731,000 was secured for her three-bedroom house in the Newcastle beachside suburb of Merewether. They also sold their Bondi investment last September for $1.2 million.</p>
<p>Her first property purchase, in 2006, was another three-bedroom house in Merewether for which she paid $469,000. It is still held by the cossie designer.</p>
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Inside Jennifer Hawkins' latest home offering at North Curl Curl

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<p>A Toorak property has been listed with hopes of more than $5 million at its Kay &amp; Burton auction on October 22.</p>
<p>Denham Place sits between Albany and Hopetoun roads.</p>
<p>The place's highest sale to date was $4.36 million in 2013.</p>
<p><a href="https://www.realestate.com.au/property-house-vic-toorak-123681610" target="_blank">The modern five bedroom house</a> hugs the pool on the 870 sq m block.</p>
<p>It last sold in 2003 at $2.45 million.</p>
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Toorak trophy home with $5 million plus auction hopes

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<p>Three storeys up above a New York style converted warehouse in Melbourne's Fitzroy is a 120 sqm leafy rooftop oasis.</p>
<p>It was passed in at weekend auction.</p>
<p><a href="https://www.realestate.com.au/property-house-vic-fitzroy-123538506" target="_blank">The penthouse</a> master retreat with dressing room spills out onto a garden with sheltered dining space.</p>
<p>Complete with a shaded Balinese daybed and luxury six person, Hotsprings spa, the private paradise offers views across the Melbourne cityscape.</p>
<p>An automated sprinkler system and 5,000 litre rainwater-fed tank ensure the garden is low maintenance and automatic Vergola with rain sensor means the outdoor space is useable come rain or shine. </p>
<p>Renovated by award winning architect Robert Simeoni, the five bedroom freestanding home is being offered to the market between $3 million and $3.33 million through Unique Estates agents Janine Lum and Nicolette van Wijngaarden.</p>
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Inner city rooftop garden offering fails to sell

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<p>The NSW government will amend underquoting laws to cover not only employees of real estate agencies but their representatives, independent contractors, subsidiaries or any related entities who act for them.</p>
<p>The amendments will widen the net to prevent illegal underquoting after Sydney agency BresicWhitney escaped allegations after a loophole deemed that two of its agents were not "employees" as required under the current act.</p>
<p>The changes were introduced in the NSW Parliament today.</p>
<p>In 2015, the NSW Fair Trading took BresicWhitney to court alleging it "falsely understated the likely selling price of residential property to consumers" through its two agents Nic Krasnostein and Walter Burfitt-Williams.</p>
<p>BresicWhitney's defence that they were not employed by BresicWhitney but by a subsidiary company, BWEA Employees Pty Ltd, was accepted by the courts.</p>
<p>The Magistrate accepted this defence and all charges were dismissed due to a legal technicality based on a statutory interpretation of ‘employee’ in the Act and the fact that there is no deeming provision in the Act for vicarious criminal liability.</p>
<p>"These changes will close a corporate loophole that has allowed agents to escape liability under the Act, and will provide consumers with additional protection," Minister for Innovation and Better Regulation Victor Dominello said.</p>
<p>"Underquoting is illegal, misleads prospective buyers and undermines the property market."</p>
<p>“These changes will close a corporate loophole that has allowed agents to escape liability under the Act, and will provide consumers with additional protection.”</p>
<p>Since the new underquoting laws came into effect in January, the practice of price baiting including the use of inducements such as "offers above" and "offers over" had declined, the government suggested.</p>
<p>But illegal off-market open for inspections without contracts have been on the rise. </p>
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Property 101: BresicWhitney underquoting law to come to NSW Parliament this week

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<p><img src="https://counter.theconversation.edu.au/content/67228/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"></p>
<p>GUEST OBSERVER</p>
<p>Despite the stereotypes of young people as a generation focused on spending with no consequences, young people actually see their money decisions (as well as their mistakes) as their responsibility, our research shows. They aren’t reliant on the “bank of mum and dad”.</p>
<p>We spoke to 123 Australians aged between 16-26 across a variety of socioeconomic groups. We asked them about their beliefs, perceptions when it comes to finance and how they made, spent and saved money. </p>
<p>Although parents “helping out” was mentioned - whether through direct money allowances or indirect support such as staying at home and paying marginal rent – it was clear young people saw their financial security as their responsibility.</p>
<p>However, many spoke of the desire to help out their families, particularly if their parents were struggling financially themselves. As a result, some young people chose to forego opportunities such as further study or training in favour of earning money in the present. </p>
<p>This has longer term consequences for their earning power. For example, they may be stuck in occupations characterised by precarious working conditions, low superannuation contributions and limited opportunities for promotion. </p>
<p>Many participants picked up on the gloomy sentiments around their generations’ prospects of home ownership, increasing precariousness of the labour market and the inevitability of working into their older age. </p>
<p>Young people faced a range of challenges, including lower wages in line with their age, unpaid overtime, delayed wages as casual part-time workers and exposure to exploitation and the cash economy. These all could undermine their attempts to save money and control their cash flow. </p>
<p>However, while focused on youthful consumption, many realise the need to balance this with achieving other medium and longer-term objectives - such as buying a car, or home ownership - and were optimistic of their ability to increase their earning power.</p>
<p>Our research also shows our squeamishness at talking about money has significant consequences for young people. The way we undertake financial literacy education often misses the mark.</p>
<h2>Why we need to talk about money</h2>
<p>In Australia we often think about money-talk as uncomfortable, boastful or even vulgar, even with intimate partners or close friends. Our study suggests this has significant consequences for future generations’ financial practices. </p>
<p>Although we may like to think our own positive money practices transmit to our children through a process of osmosis where they automatically model good financial practices, this was not the case for our participants. </p>
<p>Many found it difficult to articulate how their parents had been successful in saving, planning and spending beyond very general impressions. </p>
<p>However, others did describe how witnessing their parents deal with financial struggles influenced their own behaviours, particularly if they had made significant money mistakes. For these young people, early experiences of their family having no money for food, or memories of the electricity cut off due to late payment of bills influenced them in the long run. They had thought about strategies for budgeting and were clear about prioritising essentials such as rent. </p>
<p>But the cultural hangover of a hesitance to talk about money meant young people rarely reported discussing salaries, savings or longer term financial goals with their friends. Although they felt pressure to conform or keep up with activities or new products, many were perplexed that friends could afford something and they couldn’t, despite perceiving themselves to be in similar financial positions. </p>
<p>This may of course have dangerous consequences in terms of setting expectations about lifestyle or consumption choices that do not correlate with their financial practices. </p>
<h2>Translating financial literacy into action</h2>
<p>Our research suggests the current focus on financial literacy, which favours intervention and education at the individual level, only partially helps to support young people. Unlike previous generations, they face a complex terrain of financial decisions around superannuation, predatory lending practices (such as payday loans) and new, poorly regulated financial products on the market.</p>
<p>Among financial literacy initiatives, clear information is needed about the medium to long-term management of investments, the implications of debt and the importance of discussing their money decisions with others. </p>
<p>Most importantly, more needs to be done to ensure systems and practices around spending and financial commitments are accessible and transparent. This includes making it easy for people to “read the fine print” in agreements, and being clear about the longer-term consequences of financial decisions.</p>
<p>Young people have a clear idea what they want their futures to look like and they know it requires significant financial compromises and sacrifices in the short and medium term. The least we can do is provide enabling structures to support this.</p>
<p><em><span class="fn author-name">Kathleen Riach is a</span>ssociate professor in Management, Monash University and can be contacted <a href="https://theconversation.com/profiles/kathleen-riach-109667" target="_blank">here</a>.</em></p>
<p><em><span class="fn author-name">Deanna Grant-Smith is s</span>enior lecturer, Management, Queensland University of Technology and can be contacted <a href="https://theconversation.com/profiles/deanna-grant-smith-272501" target="_blank">here</a>.</em></p>
<p><em><span class="fn author-name">Paula McDonald is p</span>rofessor of Work and Organisation, ARC Future Fellow, Queensland University of Technology and can be contacted <a href="https://theconversation.com/profiles/paula-mcdonald-8705" target="_blank">here</a>.</em></p>
<p><em>All are authors for The Conversation.</em></p>
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Young people don't expect to rely on the 'bank of mum and dad': study

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<p>SPONSORED POST</p>
<p>Where once it was a niche investment, student accommodation has now become a global asset class.</p>
<p>According to the latest Savills World Student Housing Spotlight, 2015 was a record year for investment in student housing with US$14.9 billion invested globally in the sector.</p>
<p><strong>The Local Market - Australia</strong></p>
<p>The Australian market continues to attract significant attention and is a particularly popular destination for international students. Students from China and India together supply nearly 40 percent of international students, an increase of more than 13 percent and 15 percent respectively in 2015.</p>
<p>With Australia featuring in the list of favoured destinations in the world’s top outbound markets for international students, plus a fast-growing domestic population, student numbers have risen 37 percent in the last eight years. With 30 Australian institutions appearing in the top 750 of the QS World University Rankings, up from 25 in 2012, demand is likely to continue and, as a consequence significant new stock will be required.</p>
<p>The strong growth potential in Australia is set against a general shortage of supply; at the moment there is only enough purpose-built student accommodation (PBSA) available to accommodate 6 percent of the student population. In response, more than AU$2 billion of capital has been earmarked for development projects in student accommodation since the start of 2015.</p>
<p><strong>Around the World</strong></p>
<p>The Savills World Student Housing Spotlight has found that cross border investment in this fast maturing asset class accounted for 40 percent of all global investment activity. International investors who are seeking to diversify their portfolios have been attracted by the fact that US and UK student housing REITs have outperformed their All REIT indices by 19 and 16 percentage points respectively.</p>
<p>The first half of 2016 has seen lower total global volumes compared with 2015, but in mainland Europe investment levels have continued to rise off a low base. By the end of July, German student housing had attracted €350 million of investment – more than double the total invested in the whole of 2015 – while in France €345 million has been transacted in the year to August 2016.</p>
<p><a href="/images/2016/10/18/Major%20Student%20Housing%20Markets%20at%20a%20glance-2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/18/Major%20Student%20Housing%20Markets%20at%20a%20glance-2.jpg" alt=""></p>
<p>Investors have been attracted by mainland Europe's strong investment potential. Its combined student population of 20 million, and the very low provision in some markets of purpose-built student accommodation (PBSA) despite growing demand from international students attracted by an increasing number of courses taught in English, place it on an upwards trajectory.</p>
<p><strong>A Resilient Asset Class</strong></p>
<p>Growing international student numbers are therefore set to secure the market for a premium PBSA product, but there also remains a huge untapped market for more affordable private accommodation. High land values and development costs will impede this in many markets, but upgrading of existing university stock or establishment of new models may be a route in.</p>
<p>In either case, student housing has proven itself to be a resilient asset class and, with its counter-cyclical fundamentals, many institutional investors will continue to turn to the sector where they can achieve strong occupancy and rental growth.</p>
<p>To learn more about the trends in the current student accommodation market, view <a href="https://www.savills.co.uk/research_articles/188294/207929-0" target="_blank">Savills World Student Housing Spotlight 2016</a>.</p>
<p>Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. To learn more about Savills student accommodation services, visit <a href="https://www.savills.com.au/services-and-sectors/student-accommodation.aspx" target="_blank">savills.com.au/studentaccommodation</a>.</p>
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The rise – and rise – of global student housing investment

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<p>GUEST OBSERVER</p>
<p>Do you ever feel that the weather is worse on the weekend? Well you might be right!</p>
<p>Our research, published in Environmental Research Letters, shows that in Australia’s biggest cites, the temperature is on average up to 0.3℃ cooler on Sundays compared to Thursdays and Fridays.</p>
<p>Not only are humans affecting the temperature on a global scale, we’re also doing it in our own backyards. </p>
<p>There is nothing in nature that occurs on a weekly cycle. Therefore any weekly pattern seen in weather (such as temperature and rainfall) must result from human activity, such as generating electricity, powering motor vehicles and using air-conditioners. </p>
<p>Most of these activities deposit waste heat and pollution into the atmosphere, and weekly cycles in temperature provide valuable insights into the consequences of such activities on the urban environment. </p>
<p>Our study shows that weekly cycles in daytime temperature occur in almost all Australian major cities. Sundays are often the coolest and Thursday or Friday the hottest due to human activity. This differs according to the time of day, with early mornings showing a much stronger signal than the afternoon. </p>
<h2>Rush hour weekly cycle</h2>
<p>Early mornings are often associated with cooler air temperatures, which can trap any waste heat near the surface. By contrast, in the afternoon the temperature has warmed and the local surface heat can be carried away to higher levels. So we see less of a strong relationship between human activity and temperature.</p>
<p>Hence the 9am temperature is higher during the week (coinciding with the morning rush hour) and much cooler on the weekend (when the traffic volume is quieter).</p>
<p><a href="/images/2016/10/19/image-20161018-12447-dxp8ox.jpeg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/19/image-20161018-12447-dxp8ox.jpeg" alt=""></p>
<h4><span class="caption">Melbourne 1955-2013 average midnight and morning (9am) temperature</span></h4>
<p>Melbourne and other major Australian cities are cooler at the weekend during the day, because they’re less busy. But what about night life? </p>
<p>In western cultures, with Saturdays and Sundays being days off work for a large proportion of the population, Friday and Saturday evenings have become popular with people going to restaurants, pubs, and theatres. This means there is more traffic and human activities in the city centres on these evenings through to the early hours of the following day. </p>
<p>Melbourne’s midnight temperature is warmest on Saturday (Friday night) and Sunday (Saturday night), which is the opposite to what we see for 9am.</p>
<h2>Islands of heat</h2>
<p>Cities are also generally warmer than their surroundings, a phenomena known as the “urban heat island” effect. Don’t rush off to the beach though – it’s only hotter in the city. We can see this in weekly temperatures by comparing city centres to surrounding suburbs. </p>
<p>When we compare Melbourne city temperature to the airport temperatures at Tullamarine, Laverton and Moorabbin, the city is a lot warmer than the airports, especially at night time. This difference is largest on Saturdays and Sundays, showing that Melbourne’s active night-life is increasing the urban heat island effect. </p>
<p><a href="/images/2016/10/19/image-20161018-12431-l50gel.jpeg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/19/image-20161018-12431-l50gel.jpeg" alt=""></p>
<h4> </h4>
<h4><span class="caption">1972-2013 average difference between Melbourne city temperature airport temperatures at midnight and 9am.</span></h4>
<p>The difference is less in the morning, especially on Saturdays and Sundays. There is even a small urban cool island on Sunday mornings compared to some suburbs.</p>
<p>Temperatures are closely linked to traffic volumes within cities. These can be used as a good indicator of the overall level of human activity.</p>
<p><a href="/images/2016/10/19/image-20161018-12425-1cxmspl.jpeg" target="_blank">Click to enlarge</a></p>
<h4><span class="caption"><img src="/images/2016/10/19/image-20161018-12425-1cxmspl.jpeg" alt=""></span></h4>
<h4><span class="caption">Traffic volume at a typical Melbourne CBD junction during October 2014.</span></h4>
<p>Consistent with traffic volumes (at a typical busy inner-city intersection), temperatures on Sunday mornings are much less than weekday mornings. It’s this difference in morning traffic that allows us to measure the difference of the city without cars (Sunday) and with cars (Monday to Friday) at the same time of day.</p>
<p>Figures show that traffic congestion costs about A$4.6 billion in Melbourne each year. Reducing this is high on the agenda for Infrastructure Victoria and the state government, putting forward numerous traffic reducing strategies including peak-time penalties for motorists and a London-style congestion charge for central Melbourne. </p>
<p>Beyond Victoria, the Australian government is concerned with the need to create cooler, greener and more liveable cities in the face of climate change. </p>
<p>Reducing traffic has obvious benefits for travel time and sanity, but our study shows that Melbourne is significantly cooler when traffic levels (and general human activity) are low, based on the weekly cycles of urban temperatures.</p>
<p><em><span class="fn author-name">Nick Earl is p</span>ostdoctoral associate, School of Earth Sciences, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/nick-earl-309773" target="_blank">here</a>.</em></p>
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No it’s not your imagination, it actually is colder on the weekend (if you live in a city)

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<div class="column">GUEST OBSERVER</div>
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<br>We expect Q3 CPI data (on 26 October) to show that underlying inflation has remained weak. On our forecasts, the data are unlikely to be enough to provide confirmation that disinflationary forces are fading.</div>
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<div class="column">This would complicate the monetary policy outlook, although we don’t expect the RBA to mechanically respond to a low result.</div>
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<br><p>We expect the trimmed mean to have risen by 0.3 percent q/q and the weighted median by 0.4 percent q/q. This would see the average of the two measures rise by 0.4 percent q/q and be steady at 1.5 percent y/y.</p>
<p> </p>
<p>Importantly, the risks around this forecast seem tilted to the downside given still weak wage growth, low rental inflation, and ongoing pressure on a broad range of retail prices. A key uncertainty in the forecast is around new house prices. This is the largest item in the CPI at 9 percent of the basket and has been quite volatile over the past year.</p>
<p> </p>
<p>In our view, an outcome for the average of the two underlying measures of 0.3 percent q/q or less would concern the RBA given it would be below the implied RBA forecast and likely trigger a downgrade to the RBA’s inflation profile.</p>
<p>That said, the backdrop is quite different from April when the weak Q1 CPI print was released: the RBA has two rate cuts in the pipeline and recent communication has sounded comfortable about policy settings; the domestic economy looks more robust; commodity prices have risen; the property market has re-energised; and the changes to the statement on the conduct of monetary policy have increased the RBA’s ability to tolerate below-target inflation on financial stability grounds.</p>
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<p>Given this, the detail will be important in assessing any implications for monetary policy. There is little domestic monetary settings can do about global factors (notably competitive pressures weighing on tradable inflation), but the RBA would likely be concerned if there is broad-based weakness across non- tradable inflation.</p>
<p>Should the RBA be confronted with this scenario, we doubt there would be any urgency to respond. Indeed, in such a scenario, we would think it would be more appropriate for the risk of further easing in February to shift, rather than for November.</p>
<p> </p>
<p>Apart from the more robust backdrop, waiting until February would provide the RBA the opportunity to see one more GDP print (on 7 December), one more inflation print (in late January), another round of wages data, as well as a few more months of data on both the housing and labour markets. In addition, the US Federal Reserve is likely to have tightened by that time, which could have consequences for the AUD.</p>
<p>The headline CPI is forecast to have risen by 0.5 percent q/q in Q3, slightly higher than the 0.4 percent q/q Q2 outcome, leaving annual inflation steady at 1 percent y/y. Our daily tracking of petrol prices imply a 3.2 percent fall in the quarter.</p>
<p>THE BROAD THEME REMAINS ONE OF WEAK INFLATIONARY PRESSURES</p>
<p>Retail price inflation is being restrained by global competitive pressures. Meanwhile, weak wage growth – which is showing only tentative signs of stabilising – and low inflation expectations are weighing on non-tradable inflationary pressures1. New house prices are the key exception to this, with inflation in this sector likely to have remained relatively solid given the high level of construction activity.</p>
<p>Consequently, we expect inflationary pressures to remain relatively subdued across a broad range of items, with both tradable and non-tradable inflation expected to remain soft. Indeed, we continue to see a weak inflation environment over the coming year (see Figure 1). </p>
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<div class="column">Tradable inflation continues to be contained as domestic firms face intense global competitive pressures, which has curbed pricing power and limited the degree of currency pass through (see Figure 3).<br><p>These competitive pressures likely have several years to run across both consumer staples and durables. Indeed, we continue to see weak inflationary pressures across supermarket prices, clothing &amp; footwear, furnishings, and audio visual &amp; computing equipment.</p>
<p><a href="/images/2016/10/13/Screen%20Shot%202016-10-13%20at%202.36.46%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/13/Screen%20Shot%202016-10-13%20at%202.36.46%20PM.png" alt=""></p>
<p>Meanwhile, weak wage pressure is likely to see market services inflation remain mild and continue to lean on administered inflation. Wage growth is showing tentative signs of bottoming, but any recovery is likely to be a slow process given a significant degree of underemployment. </p>
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<div class="column">The housing component is forecast to add 0.2ppt to headline CPI, reflecting a seasonal increases in utilities and property rates as well as a rise in new dwelling purchase prices.</div>
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<br>That said, there is a high degree of uncertainty around new house prices. This is the largest item in the CPI at 9 percent of the basket and has been quite volatile in the past year. Building approvals for houses have remained at elevated levels, but new house price inflation has weakened sharply on a y/y basis (see Figure 6). Given renewed strength in the housing market, we expect a reasonable rise of 0.7 percent q/q in Q3 (after 0.9% q/q in Q2 and 0.2% q/q in Q1).<br><p><a href="/images/2016/10/13/Screen%20Shot%202016-10-13%20at%202.39.45%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/13/Screen%20Shot%202016-10-13%20at%202.39.45%20PM.png" alt=""></p>
<p>While we expect new house price inflation to continue to remain relatively strong in the coming quarters, upside pressure from this component is likely to fade over 2017-18 as construction activity peaks and then moderates. Indeed, investor finance for new construction has weakened in recent months and suggests building approvals may be close to a peak.</p>
<p><a href="/images/2016/10/13/Screen%20Shot%202016-10-13%20at%202.41.35%20PM.png" target="_blank">Click to enlarge</a></p>
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<p>Rental inflation (which accounts for 7 percent of the CPI basket) is forecast to remain very weak at +0.2 percent q/q, consistent with surging supply.</p>
<p>Given the supply of apartments coming on stream over the next year (Figure 7) and the investor-led nature of this property cycle, rental inflation is forecast to remain soft over the forecast period – a concern recently highlighted by the RBA. </p>
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<div class="column">Petrol prices have had a significant influence on headline CPI this year.</div>
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<div class="column">Our daily tracking suggests petrol prices fell by 3.2 percent in Q3, subtracting 0.1ppt from the headline CPI. We think global oil prices have found a base and forecast a slow upward trajectory from current levels, which will contribute to higher headline inflation in the quarters ahead.</div>
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<br>The communications category is forecast to subtract 0.1ppt from CPI in Q3, with prices forecast to have fallen by 1.8 percent q/q in Q3. Prices for telecommunication and equipment items have been falling since late 2013 and the downward pressure shows no sign of abating. </div>
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<p><span>Tobacco </span><span>prices are forecast to add to headline CPI in Q3, with the annual 12.5% excise increase on 1 September 2016 pushing tobacco prices higher. That said, we note that most of the impact of this administered price rise comes through in the December quarter. </span></p>
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<p><span>Holiday travel and accommodation </span><span>is forecast to contribute 0.1ppt to quarterly CPI, reflecting a seasonal increase in international travel, while BITRE data points to a jump in domestic airfares.</span></p>
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<p><em>Jo Masters is senior economist, ANZ and can be contacted <a href="https://www.anz.com/personal/" target="_blank">here</a>.</em></p>
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Expect new house price inflation to remain strong: ANZ's Jo Masters

<p><a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.</p>

<p>Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.</p>

<p>Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.</p>

<p>Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.</p>

<p>"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.</p>

<p>"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370898]</p>

<p>For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.</p>

<p>Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;</p>

<p>All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.</p>

<p>Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.</p>

<p>"It's a place to choose your pace and live gracefully, seaside'," Sander says.</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370900]</p>

<p>The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;</p>

<p>Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.</p>

<p>"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;</p>

<p>"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370897]</p>

<p>Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;</p>

<p>Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.</p>

<p>The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;</p>

<p>"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;</p>

<p>Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370899]</p>

<p>Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.</p>

<p>Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.</p>

<p>[smartcode_project_cta:default project_id=150499]</p>


Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

<p>Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.</p>

<p>Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.</p>

<p>The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.</p>

<p>The challenge for investors is that suitable product is becoming harder to find.</p>

<p>For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.</p>

<p>Today, the development pipeline looks very different.</p>

<p>Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.</p>

<p>That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.</p>

<p>At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.</p>

<p>We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.</p>

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

<p data-end="1140" data-start="844">Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.</p>

<p data-end="1140" data-start="844">The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.</p>

<p data-end="1140" data-start="844">&nbsp;</p>

<p data-end="1140" data-start="844">[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p data-end="1140" data-start="844">Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.</p>

<p data-end="1140" data-start="844">True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.</p>

<h2><strong>Corallo, Palm Beach</strong></h2>

<p><strong>Priced from: $841,500</strong></p>

<p>Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.</p>

<p>The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=808]</p>

<p>For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.</p>

<h2><strong>Corner House, Stones Corner</strong></h2>

<h2><b>Priced from: $880,000</b></h2>

<p>One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.</p>

<p>One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.</p>

<p>[smartcode_project:default project_id=149098 project_image_fid=330594]</p>

<p>Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.</p>

<p>The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.</p>

<p><strong>Parkdrive Apartments, Chermside</strong></p>

<p><strong>Priced from: $749,000</strong></p>

<p>The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.</p>

<p>The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.</p>

<p>[smartcode_project:default project_id=152125 project_image_fid=363782]</p>

<p>Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.</p>

<p>For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.</p>


Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

<p>A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.</p>

<p>The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=364156]</p>

<p>Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.</p>

<p>“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.</p>

<p>That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.</p>

<p>The absence of holiday letting within the building has also resonated strongly with purchasers.</p>

<p>“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=366491]</p>

<p>The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.</p>

<p>“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.</p>

<p>“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=366486]</p>

<p>Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.</p>

<p>Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.</p>

<p>A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.</p>

<p>The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.</p>

<p>&nbsp;</p>

<p>To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.</p>

<p>[smartcode_project_cta:default project_id=150454]</p>


Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

<p>Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.</p>

<p>The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.</p>

<p>The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371009]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.</p>

<p>The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.</p>

<p>Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371016]</p>

<p>Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.</p>

<p>Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371017]</p>

<p>Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.</p>

<p>The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371025]</p>

<p>Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.</p>

<p>The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.</p>

<p><sup>*Conditions apply in relation to the deposit match offer.</sup></p>

<p>[smartcode_project_cta:default project_id=139552]</p>


Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

<p data-end="181" data-start="0">Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.</p>

<p data-end="484" data-start="183">From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.</p>

<p data-end="657" data-start="486">Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.</p>

<p data-end="806" data-start="659">Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.</p>

<p data-end="871" data-start="808">“We know the buyer profile exceptionally well,” Abolakian says.</p>

<p data-end="1097" data-start="873">“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”</p>

<p data-end="1169" data-start="1099">That buyer has historically been overwhelmingly owner-occupier driven.</p>

<p data-end="1434" data-start="1171">Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.</p>

<p data-end="1533" data-start="1436">“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.</p>

<p data-end="1665" data-start="1535">“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”</p>

<p data-end="1721" data-start="1667">That philosophy extends well beyond apartment layouts.</p>

<p data-end="1966" data-start="1723">From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.</p>

<p data-end="2051" data-start="1968">“There was probably a period where having an approved project in market was enough,” he says.</p>

<p data-end="2154" data-start="2053">“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”</p>

<p data-end="2386" data-start="2156">“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”</p>

<p data-end="2386" data-start="2156">[smartcode_project:default project_id=110379 project_image_fid=311393]</p>

<p data-end="2549" data-start="2388">The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.</p>

<p data-end="2678" data-start="2551">For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.</p>

<p data-end="2757" data-start="2680">“People buying now often aren’t moving in for several years,” Abolakian says.</p>

<p data-end="2949" data-start="2759">“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”</p>

<p data-end="3219" data-start="3163">That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.</p>

<p data-end="3219" data-start="3163">[smartcode_project:default project_id=149594 project_image_fid=362634]</p>

<p data-end="3454" data-start="3221">While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.</p>

<p data-end="3546" data-start="3456">“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”</p>

<p data-end="3919" data-start="3669">That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.</p>

<p data-end="4005" data-start="3921">“It’s about creating something that feels special without being excessive,” he says.</p>

<p data-end="4112" data-start="4007">“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”</p>

<p data-end="4112" data-start="4007"><img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" /></p>

<p data-end="4243" data-start="4114">The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.</p>

<p data-end="5230" data-start="5149">“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.</p>

<p data-end="5392" data-start="5232">“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”</p>

<p data-end="5674" data-start="5394">Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.</p>

<p data-end="5723" data-start="5676">“There are definitely people waiting,” he says.</p>

<p data-end="5902" data-start="5725">“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”</p>

<p style="text-align:start">Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.</p>

<p style="text-align:start">Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.</p>


Jonathan Chancellor

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