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Zac Stenmark, one of the twins of the popular modelling duo, let slip late last year he'd be moving out of home.
Now it's confirmed he has bought a Manly apartment, the first of the brothers to leave the family home at Mosman.
He has paid $965,000 for the two bedroom, two bathroom apartment in an early 80's block which selling agent Candice Cattell of Stone Real Estate had hopes of $1.05 million plus. 
The brothers have just starred in the Just Jeans clothing campaign with Australian beauty, Ashley Hart. They were also spotted in Bondi Beach with Ashley's older sister and Victoria's Secret model, Jessica shooting for an upcoming edition of Vogue Australia.
Zac's first home acquisition -  half way between the beach and the wharf - comes five years after he and his brother Jordan were discovered in 2011.
The chiselled twins were working in a cafe before a friend suggested they would make more money modelling.
The pair didn't realise what was to come, as they were immediately signed on by the Vivien agency at just 19 years of age and flown to Miami to shoot 60 pages for L'official Homme the following week.
The whirlwind never stopped.
After the shoot they were on a plane to London to meet with American fashion designer Tom Ford.
They made their international catwalk debut when they opened and closed the Calvin Klein S/S13 show at Milan Fashion Week in 2013.
They have worked with some of world’s best known brands like Abercrombie &amp; Fitch and Ralph Lauren and have recently appeared in the David Jones Summer television commercial and their autumn winter launch parade alongside supermodel Miranda Kerr.
Now 23, the pair maintain their athletic stature by training with old friends from the Sydney Swans and the Greater Western Sydney teams, having being once handed AFL scholarships while at the University of Sydney.
The guys say they don't have telepathic connection, however Zac labelled themselves "mirror twins" as Zac is left handed and Jordan is right, a rare trait that only some twins have.
They do share an Instagram page however, a recent upload showing Zac in the Rod Laver Arena enjoying the Australian Open.
Despite Zac moving out, they still expect to see each other every day.
They were heard telling friends at the recent opening of the Rolex boutique at Crown Towers in Melbourne "we just won't be in adjoining rooms".
‘‘We’ll be saying ‘good night’ over the phone instead of through the wall,’’ Jordan Stenmark said. 
The apartment, which last traded at $248,000 in 1994, comes with a Greater Building Society mortgage to pay it off, so Zac will hope the phone keeps ringing.
Manly's average unit price is currently at a record $1.02 million according to CoreLogic RP Data. 
This article was first published in the Saturday Daily Telegraph.
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Model Zac Stenmark buys first home in Manly

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The outlook for China’s growth is a significant uncertainty for the outlook for the Australian economy, according to the latest RBA statement on monetary policy issued this morning.
But in the period ahead, Australian dwelling investment seems likely to be supported by continued strong demand from foreign buyers, the central bank concludes.
Information from the bank’s liaison suggests that foreign buyers tend to have long-term motivations for investment and may be relatively unconcerned about temporary fluctuations in housing price growth.
The statement then adds population growth, employment prospects and expectations for future housing price growth are likely to be the most important considerations for domestic buyers.
"Some geographic areas appear to be at risk of reaching a point of oversupply, particularly the inner-city areas of Melbourne and Brisbane."  
It also noted conditions in the established housing market have eased in recent months.
"National housing prices have declined slightly from their September 2015 peak, following strong growth earlier in 2015.
"Auction clearance rates, which are another timely gauge of housing market conditions, have also declined from very high levels to be around their long-run averages.
"However, some other indicators – including turnover rates, days on market and the eventual discount on vendor asking prices – have been little changed.
"The easing in housing market conditions has been most pronounced for detached houses in Sydney and Melbourne, where earlier price growth had been strongest, and in Perth, where prices have been declining since early 2015."
It noted growth of national apartment prices had been noticeably slower than that of detached housing prices, reflecting large increases in higher-density housing supply over recent years, especially in Melbourne.
"The increase in supply over recent years, partly in response to strong investor demand, has been associated with a gradual increase in the nationwide rental vacancy rate.
"Rental yields remain low by historical standards.
"Dwelling investment grew strongly over the year to the September quarter, supported by low interest rates and the significant increase in housing prices over the past several years."
The RBA has also released its Chart Pack that summarises macroeconomic and financial market trends in Australia.
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To view the RBA's Statement on Monetary Policy, February 2016, <a href="https://www.rba.gov.au/publications/smp/2016/feb/" target="_blank">click here</a>.
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Chinese still coming but Melbourne and Brisbane inner city at risk of over supply: RBA monetary statement

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As the debate escalates on whether Sydney house prices are set to fall, plateau or edge up in 2016, a very small number of loss making sales are occurring across Sydney. Rare opportunities to possibly snare a bargain.
Currently only 1.7 per cent of homes sold are selling at a loss for their vendor based on their prior purchase price, according to CoreLogic RP Data, with the numbers increasing the further outside of what were the early 2015 suburban Sydney hotspots.
In recent months the municipalities of Rockdale, Fairfield and Ashfield have had three percent or higher of sales as loss takers.
Regional Sydney loss-making districts have been Wyong, Gosford and the Blue Mountains.
The prestige market has also been problematic with losses in Mosman, Pittwater and Woollahra muncipalities.
The biggest known price drops last year were in Darling Point when mining boss Peter Freyberg, the Australian head of Glencore Xstrata, sold his four-bedroom residence for $5.5 million having paid $7 million in 2008 ahead of the GFC.
Urologist Phillip Stricker sold his Darling Point penthouse last year for $6.575 million after paying $7.4 million in 2010.
A $10 million Mosman harbourfront sold last year at the same price as its 2011 sale, so no gain in four years for the vendor, the Commonwealth Bank chairman David Turner.
In Woollahra $6 million was secured for a contemporary terrace which fetched $6.5 million in 2011.
Property success depends on your timing in the cycle, but also not getting emotionally carried away in your purchase price negotiations, one agent noted.
"The most important factor is the time the property is held; the property market is cyclical so those who buy at the peak of the market must ensure they are not selling at the following trough," CoreLogic RP Data advised.
The 1.7% of homes resold in Sydney over the third quarter of 2015 that sold at a loss was the lowest proportion on record.
Outside Sydney it noted while localities linked to the mining sector have seen their proportion of loss-making sales rise over recent years, the coastal markets have generally seen conditions improve.
The proportion of loss-making resales has been recorded at: 1.7% in Illawarra, 2.6% in Newcastle-Lake Macquarie, 12.5% in Richmond-Tweed and 8.3% in Mid-North Coast.
Coastal lifestyle locations continued to be traps for overpaying with one sale at Avoca Beach at $825,000 in 2004, reselling at $705,000 last year. At Ettalong Beach an apartment sold last month at $350,000 having been bought in boomtime 2003 at $360,000.
But price dips are an opportunity for savvy buyers. Hong Kong jockey Nash Rawiller and his wife Sarah secured $3.7 million for their redundant Maroubra home.
Rawiller, who won three Sydney riding premierships after making the move from Melbourne in 2007, had bought the property for $3.07 million in 2012 after it had sold at $4 million in pre-global financial crisis 2008.
The 3.7% of homes in Rockdale that experienced a total loss in the September quarter typically went back by $158,000. It was a similiar $150,000 for the Pittwater loss takers who had owned for around five years. However 96% of Pittwater homes were sold at a profit, typically gaining $411,000 having owned for nine years.  
In the Blue Mountains there was a typical $72,000 loss for the three percent who went out backwards.
The data doesn’t include expenses such as holding costs and purchase and selling costs so the proportion of actual loss-making re-sales would be higher on a net basis.
This article was first published in the Sunday Telegraph.
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Prices potentially going backwards - most obvious in Sydney prestige market

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When looking for a new house to lease, most renters will spend several weeks, if not months, searching for properties online and inspecting them in person.
This time spent researching makes renters very discerning as to what makes a desirable property and there are certain features they will actively seek out.
In addition to these sought-after features, Shane Goldfarb, who recent helped establish the new McGrath agency after years at Hodges St Kilda, says there are some simple tips landlords should be aware of in order to increase the desirability of their rental property, not to mention the quality of tenants and potentially the rent price. His ten tips landlords should know in order to make your rental property more appealing.
 1.      TENANT FRIENDLY, NOT INVESTOR FRIENDLY
It’s important as a landlord to remember that your target audience is renters. While an investor might be interested in certain features, your aim is to appeal to tenants, who typically want somewhere that is comfortable, low-maintenance and good value for money.
 2.      PROFESSIONAL PHOTOGRAPHY
Investing in professional photography rather than taking your own photos of your property will instantly increase its desirability. When renters are researching dozens of properties online, properties with clear, professional photos will always catch the eye first and give renters the impression that the property, like the photos, is of a high quality. Also, these photos can be reused, creating greater return on the small investment required.
 3.      PRESENTATION
It may seem like stating the obvious, but presentation matters. Simple measures come inspection time, such as ensuring the house has been freshly cleaned, including carpets steam cleaned if necessary, will help to ensure your property is leased quickly. 
 4.      QUALITY FITTINGS AND FIXTURES 
A discerning renter, the type you should most want to attract, will be more likely to apply for property that has high quality fittings and fixtures such as stainless steel in the kitchen and bathrooms.
 5.      FRESHLY PAINTED
It should never be underestimated what a fresh coat of pain can do for a property, particularly one that is maybe on the old and tired side. Stick to neutral, timeless colours like whites and creams to ensure they will be compatible to all tenants tastes and not require regular repainting over the years.
 6.      AIR CONDITIONING
For many tenants central air conditioning is considered a crucial feature and can be the deciding factor between two very similar properties. 
Whilst installing air conditioning might seem like a significant investment at the time, a quality unit should last many years, making the initial outlay worthwhile when compared with years of consistent rental income.
 7.      DISHWASHER
Similar to central air conditioning, a dishwasher is increasingly considered a must-have amenity. Likewise with central air conditioning, the initial investment will be offset by the premium prices that can be charged for having this feature.
 8.      OUTDOOR AREA
Simple improvements to the outdoor area, whether it be a backyard or courtyard, can make a world of difference. A functional outdoor area acts as an additional room and entertaining space.  If previous tenants have consistently failed to maintain the garden or lawn, it could be worth neatly paving the space to ensure it stays presentable and functional.
 9.      QUALITY COMMUNAL AREAS
When leasing a property that has shared facilities, ensure that the owners corporation are on top of cleaning, gardening and maintenance of communal areas. These areas are extensions of your property and a tenant may choose an alternate property or choose to move if the owners corporation do not keep the areas clean and well maintained.
 10.  ENGAGING A GOOD AGENT
The advice and professionalism of a quality property manager can be invaluable. If you are time poor or unsure what to look for in a tenant or how the leasing process works, do your research and engage in a reputable property manager. They will ensure you have reliable tenants that maintain your property and increase your chances of consistent rental income. 
 
For more from Shane Goldfarb, <a href="https://www.mcgrath.com.au/agent/4490-shane-goldfarb" target="_blank">click</a><a href="https://www.mcgrath.com.au/agent/4490-shane-goldfarb" target="_blank"> here</a>.
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Property 101: 10 tips to make your rental property more appealing

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One of the late architect Col Bandy's significant residential designs has been listed in Lorne.
Perched high above the St. George River, the six bedroom house is seemingly embedded into the cliff.
Its self-contained annex is virtually built into the rock, with a combination of a bath and a bed its most fascinating aspect.
The main three bedroom residence has an angled theme in the entrance hall, where the void under the staircase forms a sharp triangle, framing the view outside.
The 330 metres of Great Ocean Road frontage and abundance of terraces and decks offer 360 panoramic views from the ocean to Otway National Park.
The secluded property is ecologically sensitive to the environment, with solar power systems, water tanks, combustion heaters and two treatment plants.
Michael Coutts of Great Ocean Road Real Estate has the listing and is hoping to secure a $3.3 million sale.
According to CoreLogic RP Data, the median house price in Lorne is $830,000.
The <a href="https://www.realestate.com.au/property-house-vic-lorne-121590138" target="_blank">2310 Great Ocean Road</a> property is 9.3 hectares. It overlooks no other residence.
A book about Col Bandy's works was published by his family and it quotes him as saying: "Architecture is much more than just building but if it doesn't work as a building it is not architecture. It must keep the rain out, respond to the environment, use energy rationally, be cost-effective, endure and be fit for its function. But the aspiration for the architect with their client should be to create an opportunity for the spirit."
Bandy was passionate "that architecture should bring poetry to the business of building."
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Col Bandy-designed Lorne home with $3.3 million plus hopes

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Australia’s largest industry, the property industry, has warned a Parliamentary Committee into Tax Deductibility that changes to negative gearing will exacerbate Australia’s undersupply of housing and harm average income earners.
New data has revealed that over 430,000 Australians who negative gear an investment property live in marginal seats held by the Government and the Opposition. The ten most marginal Coalition seats have an average of 8,181 investment property owners and the ten most marginal Labor seats have an average of 8,357 property owners.
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“Mums and dads see owning an investment property as a way of securing their long term prosperity”, said Property Council Chief Executive Ken Morrison.
“There are 840,000 Australians with taxable incomes below $80,000 a year who negative gear.
"This includes 53,800 teachers, 52,000 retail workers, 35,900 nurses and midwives, 22,600 hospitality workers and 10,400 emergency services workers.
“Interest deductions on property are legitimate deductions. Deductions for interest have been a fundamental part of the Australian tax system for 100 years.
“Two million Australians own an investment property. These people are doing the right thing and investing for their retirement or putting away for a rainy day.
“To play with negative gearing is to play with the financial futures of 430,000 people who live in the most marginal seats.
"That’s enough voters to swing all of these seats eight and half times over, a big political risk to take with people with a lot at stake.
“Limiting interest deductibility will make investments more expensive. In turn, this will exacerbate Australia’s undersupply of housing and infrastructure. This is the wrong approach for the challenges we have to face.
“Australians already pay $72 billion a year in property taxes – and property owners don’t want government’s hands reaching even deeper into their pockets.”
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Any negative gearing tampering to become marginal seats election battle: PCA

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National Australia Bank's latest survey of the housing market anticipates a rise of one per cent in house prices for 2016.
Apartment prices are expected to fall by 1.2 percent.
Houses in capital cities experienced average price growth of 7.8 percent in 2015.
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The survey is based on the responses of 250 real estate professionals, fund managers, property owners and investors.
NAB’s Residential Property Index fell to its lowest level since mid-2012 as the slowdown in house price growth continued. Queensland is expected to lead the country for capital growth over the next 1-2 years.
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Local investors played a smaller role in both new and established property markets in Q4.
Foreign buyers were also less active, except in Queensland.
NAB has lowered its average forecast for national house prices for 2016 to 1%, with expectations softer in all cities (led by Sydney and Melbourne). The outlook for unit prices (included for the first time) also points to flat to falling apartment prices across all capitals.
The NAB Residential Property Index fell to +1 in Q4 (+10 in Q3) and now sits well below its long-term average (+13).
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Market sentiment continued to weaken in most states, particularly in NSW and Queensland. Sentiment also fell in Victoria, but it has replaced NSW as the strongest overall and is currently the only state tracking above its long-term average. Sentiment fell further in SA/NT and remains very weak in WA.
Average survey expectations for national house price growth over the next 1-2 years were scaled back in most states.
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Queensland, is predicted to be the best state for capital growth (1.9% &amp; 2.7%), followed by Victoria (0.7% &amp; 1%). House price growth in NSW in the next 1-2 years is expected to be flat, with weak growth also tipped for SA/NT (-0.6% &amp; 0.2%) and WA (-0.5% &amp; 0.6%).
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According to NAB Group chief economist Alan Oster the weakening fundamentals have already seen the market starting to cool, "suggesting the best of the price gains are probably behind us”.
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NAB survey predicts slight apartment price fall in 2016

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GUEST OBSERVER
The cash rate has been left at a record low of 2 percent for a 9th month (10 months of rates at 2 per cent).
The Reserve Bank Board noted that the "expansion in the non-mining parts of the economy strengthened during 2015.
What does it all mean? 
The Reserve Bank adopted a ‘conditional easing bias’ in November. That is, the Reserve Bank indicated at the time that scope existed for lower interest rates “should that be appropriate to lend support to demand.” The Reserve Bank Board didn’t feel the need to act on that bias in December, and nor did it decide to take action at the latest meeting.
And if anything, the Reserve Bank has watered down the ‘easing bias’. It may not have become more hawkish (removed the bias or moved in favour of higher rates) but it certainly hasn’t become more dovish as some commentators expected it would.
The Reserve Bank has clearly become more upbeat on the Australian economy, highlighting lower unemployment, stronger business lending, and above-average business conditions.
However, at the same time the RBA upgraded commentary on the Australian economy, it became a touch more downbeat on the global economy. Not markedly mind you, but clearly if rates were to be cut in Australia, it would be because the global economy had deteriorated: “Recent information suggests the global economy is continuing to grow, though at a slightly lower pace than earlier expected.”
Is the Reserve Bank worried about the recent lift in the Australian dollar? Not in the least. The commentary on the Aussie was brief: “The exchange rate has continued its adjustment to the evolving economic outlook.”
On the housing market, RBA noted: “The pace of growth in dwelling prices has moderated in Melbourne and Sydney over recent months and has remained mostly subdued in other cities. “ In other words, scrub out one of the issues that was on the wall of worry in 2015 – the housing market has become more balanced.
Perspectives on interest rates
The previous rate cut was in May 2015 (25 basis points), taking the cash rate to a record low of 2.00 per cent.
There have been 10 rate cuts since November 2011.
The Reserve Bank had previously lifted rates seven times from October 2009 to November 2010 – a total of 1.75 percentage points, from 3.00 per cent to 4.75 per cent.
What are the implications?
CommSec doesn’t expect any change in the cash rate for the foreseeable future. Underlying inflation remains at the bottom of the 2-3 per cent target band but should lift over 2016 as import prices gradually lift in response to a weaker exchange rate.
If the Reserve Bank was to cut rates it would be because of global factors – certainly not domestic considerations.
With interest rates poised to stay low or potentially move even lower, investors will need to remain pro-active in embracing the best deals on online bank accounts. Borrowers also need to be on guard as fixed-term rates could move either way in coming months. While the US Federal Reserve is seeking to ‘normalise’ interest rates, lower oil prices, sharemarket volatility and uncertainty on the Chinese economy may stay the Fed’s hand.
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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The RBA February 2016 hold decision, what it means: CommSec's Craig James

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Two bedroom apartments account for the majority of the Sydney apartment stock, at 56% of occupied apartments., according to a report by Angie Zigomanis, senior manager of residential property at BIS Shrapnel in a report on the deterioration of affordability in Sydney.
Studios and one bedroom apartments account for another 28% of Sydney’s occupied apartment stock, with the remaining 16% containing three or more bedrooms.
The majority of movers into three bedroom apartments are owner occupiers (58%), with the higher percentage (31%) being fully owned.
"This suggests the majority of owner occupiers coming into three bedroom apartments are downsizers and are buying with full equity," Angie Zigomanis noted.
His study of Australian Bureau of Statistics, shows tenure differs across apartments in Sydney.
Studio and one bedroom apartments are dominated by rental tenants, who account for 70% of households moving into these apartments over the prior five years.
"In contrast, only 9% were fully owned suggesting that studio and one bedroom apartments are not attracting downsizers.
"Around 57% of movers into two bedroom apartments were tenants."
The report noted the deterioration of affordability in Sydney had encouraged a shift towards both apartments over houses, and also into middle suburbs compared to inner ring suburbs.
BIS Shrapnel’s Sydney apartments report found 55 per cent of apartment building approvals in 2014/2015 were located in middle-ring suburbs, compared with the 37 per cent in 2010/2011.
Overall commencements of apartments in buildings four storeys and above have increased from 8,300 dwellings in 2010/11 to the record 19,450 dwellings in 2014/15.
He noted dwelling completions exceeded underlying demand for the first time in 2014/15, with the deficiency falling slightly.
"However, given the estimated deficiency of 42,300 dwellings at June 2015, it will take some time for the market to return to balance, and this should still support an elevated level of new dwelling activity."
Median unit price growth remained high at 14.9% in 2014/15 compared to rental growth of just 1%.
"The result has been that indicative unit yields in Sydney are now around their previous lows of 2003 to 2005, at 3.7% in June 2015," the report noted.
 To find out more information, <a href="https://www.bis.com.au" target="_blank">click here</a>.
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Downsizers with full equity snapping up Sydney three bedder apartments: BIS Shrapnel

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Hoppers Crossing vendors notched up over 95 percent auctions success in the 2015 December quarter, according to a CoreLogic list of the busiest 188 auction suburbs.
Houses in the urban fringe suburb south west of Melbourne's CBD have a median of $360,000 and units around $278,000.
CoreLogic RP Data noted while Melbourne's auction clearance rate over the December quarter was 67 percent there were pockets of the Melbourne market where clearance rate performance sits much stronger than the broader market.
For instance the inner south suburbs came in with the highest clearance rate at over 71 percent, followed by the outer east at just over 70 percent.
Despite each sub-region clearing over 60 percent each of them showed a fall in clearance rates from the previous quarter. 
The research will be handy when deciding just how to list your Melbourne home this year, ie by auction or private treaty.
It would be wise to ask your prospective listing agents not only how their agency went late last year but contrast their results against the overall suburban trend. 
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Melbourne's best and worst auction suburbs

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

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Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

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[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

Jonathan Chancellor

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