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The Melbourne-based Landream launched their $116 million Beecroft Place development on Sydney's upper north shore on the weekend.
The 130 apartments were sold by 2pm, to a mix of owner-occupiers and local investors with very strong local support. 
There were no overseas buyers, said CBRE director Tim Rees who noted many buyers lived in and around the Beecroft suburb and had bought due to limited supply in the area.
The Landream apartments were designed by dKO for the corner locationof Beecroft Road and Hannah Street. 
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The principal architect is Koos de Keijzer.  
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Construction is expected to begin in mid-August 2015 with completion expected mid-2017. 
The mix was 69 one bedroom from $595,000, 7 one bedrooms with study, 35 two bedroom with 70 sqm internal space from $745,000 and 19 three bedrooms with 90 sqm priced from $1,075,000.
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jchancellor-FAypfDUnLy

Beecroft Place dKO-designed sell-out to locals

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DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund (DWPF) today announced that they will acquire Waterfront Place and Eagle Street Pier within the prime commercial precinct of the Brisbane CBD for $635 million.
It reflects $9,664 per square metre for the complex and a capitalisation rate of 6.9%. 
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Stockland agreed to sell its 50% stake in the 40-storey Brisbane Waterfront Place office tower and Eagle Street Pier for $317.5 million to DEXUS.
Stockland will generate $296 million from the sale of the office tower, which is a 3% premium to its December 2014 book value of $287.1 million.
As part of the transaction, Stockland will also sell its 50% stake in the Eagle Street Pier retail and restaurant precinct for an additional $21.5 million.
Stockland and the Future Fund, through its manager Corval, entered into the agreement to sell the entire 100% interest in the tower and pier to DEXUS in what is a challenging leasing market.
The asset is currently 90% leased.
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Waterfront Place overlooks the Brisbane River and features 59,500 square metres of premium office space with floor plates averaging 1,800 square metres. The building has a 5 star NABERS energy rating and a 4 star NABERS water rating. 
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Stockland acquired the office tower in February 2004 and has invested $171 million, including the cost of additions, in its 50% stake.
The other 50% interest in the property was placed into a Stockland- managed retail fund and subsequently sold to the Future Fund in 2011 for $216 million.
CBRE advised it is the largest single office sale to have occurred in Queensland and one of the largest to have occurred in Australia - and certainly the largest since the GFC. 
“The acquisition by DEXUS is a significant vote of confidence in the Brisbane office market and the medium term outlook for Queensland,” said Bruce Baker, CBRE senior managing director, Queensland.
“Whilst foreign capital has featured heavily in the Australian market recently, the Waterfront Place transaction shows the big domestic players are still actively pursuing prime opportunities,” Flint Davidson, CBRE Director, institutional investments said.
 
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Brisbane Waterfront Place sold to Dexus

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The Commonwealth Bank of Australia has informed mortgage brokers that new borrowers' existing debts and their incomes are to be assessed more stringently.
CBA will apply a servicing loading of 20% to all repayments on existing home loans and lines of credit held by customers.
The 20 per cent loading means repayments that were assessed at $1000 a month will now be assessed at $1200 a month.
CBA also said it would accept only 80% of income from overtime, bonuses, and investment income when it is assessing home and investment loan applications. 
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<div class="cq-article-content-media section">The maximum loan-to-valuation ratio for all owner-occupied home loan applications would be 95%, compared to currently allowing LVRs of up to 97%, including the cost of mortgage insurance.</div>
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Overtime income won't count as much as CBA tightens home loan lending

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LF Economics duo Lindsay David and Philip Soos have published 23 recommendations into Australian banking reform in an attempt to curb what they believe is a 'perverse culture of homeowner entitlement' and a 'religious-like culture of property ownership and speculation'.
Featured in their submission to the House of Representatives Standing Committee on Economics 2015 Inquiry into Home Ownership, <a href="/news/the-great-australian-household-debt-trap-lf-economics-lobs-first-submission-into-hor-housing-bubble-inquiry">The Great Australian Household Debt Trap: Why Housing Prices Have Increased</a>, the paper backs the use of macro-prudential tools to moderate house price inflation, suggests the implementation of a new RBA risk assessment framework and the RBA raises in the current interest rate.
The 23 recommendations are:
Recommendation #1
Prepare legislation for the implementation of a future Chicago Plan-style reform in the event of a severe banking crisis. This includes a progression to 100% reserve lending and backing for deposits, and public control of the money supply via issuance of government money (equity) when banks want to lend, unless they wish to pay an increased premium for private debt liabilities. Forcing the requirement that banks issue debt instruments to the government, rather than the private sector, is a blueprint forremoving the noxious impact of usurious fees and interest charges, and rapid inflation in themoney supply that causes asset bubbles and financial instability.
Recommendation #2
A range of macro-prudential tools should be implemented to moderate housing price inflation and subdue credit growth in a pro-cyclical financial system, particularly those affecting the loan to value (LVR), debt servicing (DSR) and debt servicing to income (DSTI) ratios.Quantitative restrictions are placed on the share of new mortgages with moderately high LVRs (60 to 79%), and significantly strengthened for mortgages with an LVR of 80 to 89%. Mortgages with an LVR of 90% and above, interest-only loans and those backed by parental guarantee are disallowed. Mortgage debt is capped at a multiple of ten times the imputed or actual annual rental income of the property being purchased to prevent a positive feedback loop forming between rising housing prices and debt.41 The ’30-10-30 Plan’ should be a future policy consideration following a severe downturn in the housing market.
Recommendation #3
To reduce systemic risk, a large rise in capital and liquidity ratios (buffers) is implemented so banks can withstand a future economic downturn, bank run, credit market freeze or large fall in the value of collateral. Research suggests the probability of a banking crisis can be reduced to a 1 in 100 year event by raising core equity (Tier 1) capital ratios to 11 per cent in isolation or raising core equity to 10% with an additional rise in liquid assets of 12.5% (the rise in liquid assets over total assets).For the Big Four banks, this represents a rise of around 3% in core equity. Liquidity and capital buffers (and general debt provisioning) must rise during the expansionary phase of the credit cycle, taming the size and duration of a debt-financed asset price boom.
Recommendation #4
APRA enforces a transparent and prudent risk-weighting methodology for determining capital ratios. APRA rescinds banks’ authority to calculate their own risk-weights with advanced internal methods (APS 113) and enforces all new bank lending under APS 112, applying more conservative criteria and risk weights for residential mortgages. Requisite modifications to APS 112 include higher risk-weights when asset prices significantly diverge from the long-term mean (25-30 year minimum), and re-calculation of potential super-sized LGD, PD and EAD during a large housing correction.
Recommendation #5
Significant capital allocations arising from conservative risk-weights imposed on financial derivatives, with prudential regulations requiring derivatives to be placed on-balance sheet in SPVs. 
Recommendation #6 
Development of a new RBA risk assessment framework including a range of macroeconomic, banking, market-priced and qualitative indicators:
<ul>
<li>Macroeconomic metrics include the stock and flow of credit to all sectors of the economy (household, non-banking financial, non-financial business, and government sectors), sectoral leverage, associated DSRs and estimations of credit quality. </li>
<li>Banking sector metrics include capital adequacy as a proportion of total asset value (not RWAs), liquidity ratios, non-performing loan rate, asset quality in high-risk sectors (e.g. residential housing), proportion of high-LVR and interest-only lending, asset concentration on bank balance sheets, and the level of specific provisions for bad debts. </li>
<li>Market-priced metrics include the divergence of asset prices from long-term averages (e.g. P/I and P/R ratios), credit spread between market/deposit and lending rates, proportion of securitised, offshore and short-term wholesale funding, degree of foreign investment, loan to deposit ratios, and the average maturity profile of debt. </li>
<li>Qualitative measures include lending standards and risk appetite, ratio of prime to non- prime/subprime lending, trends in loan control frauds, rapid bank network growth and the intensity of financial sector competition. 
</li>
</ul>
Recommendation #7
Strict limits are placed on the Big Four banks to prevent any further mergers or acquisitions due to the high concentration of Australian financial system assets under management and the already non-competitive operating environment. A maximum threshold is established for the proportion of credit aggregates directed towards any single asset class.
Recommendation #8
APRA enforces less reliance on wholesale borrowing, particularly short-term foreign debt, via existing regulatory powers. The average maturity of wholesale funding is lengthened by adopting suitable benchmarks for short and long-term wholesale borrowing, and imposing restrictions on off-shore bond issuance. A minimum level is also set for ‘stickier’ funding sources like domestic deposits.
Recommendation #9
Covered bonds are phased out, as this dual recourse funding arrangement poses significant over-collateralisation risks. The numerous funding advantages of the Big Four banks over second-tier lenders indicate they are not disadvantaged by this reform. Legislative amendments to the Banking Act 1959 subordinating depositors in the creditor hierarchy are unwound.
Recommendation #10
RMBS funding arrangements are reviewed and a maximum 10% limit set for total RMBS financing in any asset class. The AOFM explicitly rules out any future support for RMBS.
Recommendation #11 
Establishment of a Royal Commission to conduct an exhaustive investigation of the financial system and regulatory bodies. The Terms of Reference are broad and explore accusations of extensive subprime mortgage fraud, predatory lending, and regulatory agency culpability and negligence in addressing systemic risk and unconscionable financier conduct.
Recommendation #12 
External dispute resolution (EDR) organisation regulations are reformed to better assist victims of predatory lending. Arbitrary caps on mortgages are removed, allowing EDRs to write-off the entirety of loans in the worst cases of fraud. The powers of EDRs are significantly expanded to deal with recalcitrant lenders.
Recommendation #13
The Financial Claims Scheme (FCS) is broadened to include significant ex-ante funding from banks to provide depositor and general policy insurance. A financial contribution from banks discourages moral hazard and guarantees they bear a greater loss for subsequent failures.
Recommendation #14
Economists in senior and executive public roles are subject to a suitable incentive structure to ensure appropriate management of the economy and commentary. A range of key performance indicators can be adopted and benchmarked against the performance of the economy. Economists are held accountable for the quality of their work, with a number of penalties being introduced for poor performance: fines, loss of employment and even imprisonment in the worst cases of financial and economic collapse.
Recommendation #15
The development of a more transparent and empirically-validated stress-testing framework. Primary variables that predict future instability include the size of the credit-to-GDP gap (breaching 6%), DSRs greater than 20% (related to more severe recessions), a large proportion of credit aggregates directed towards real estate (42% of all Australian banking assets are housing loans), large deviations of asset prices from the long-term mean, and low equity to deposit ratios (a greater number of creditors have a claim on banking assets). APRA ceases to use ‘soft stress-testing assumptions’ for liquidity as noted in the 2012 IMF Financial Stability Report.
Recommendation #16
The APRA stress-testing framework includes the following secondary variables: large ToT shocks precipitating a significant fall in national income, persistent tepid or negative economic growth, steep rises in unemployment stressing high DSR households, and significant Australian bank exposure to the New Zealand market.A mining sector downturn would increase the likelihood of rising personal and commercial defaults, declining credit quality, and rising bank funding costs as credit ratings agencies lose confidence in credit quality. New Zealand’s housing bubble is also heavily dependent on capital inflows for funding, suggesting a simultaneous property downturn could amplifydifficulties for the Australian parent companies, despite legal ring-fencing.
Recommendation #17
The decision to implement a CLF is reviewed, alongside the conditions of access and possible taxpayer risk. At a minimum, the cost of accessing CLF liquidity should be substantially increased, as there is a spread of well over 100bps between the wholesale funding and cash rates. Banks may otherwise try to access the CLF for cheaper funding, instead of as a last resort measure. The RBA could also threaten to convert debt into equity following a large fall in the value of collateral pledged to access liquidity. Abolishing the CLF is the most prudent measure as it is a thinly-disguised, taxpayer-funded bailout mechanism. If financial institutions require capitalisation at taxpayer expense, they should be nationalised rather than bailed out.
Recommendation #18
Bail-in provisions overseen by the FSB and endorsed by APRA are repealed, despite Australia’s implementation of the new global liquidity framework (Basel III International Framework for Liquidity Risk Measurement, Standards and Monitoring). An independent panel of experts considers a range of alternative policy measures that contribute to financial stability, outside of the costly bailout/bail-in paradigm.
Recommendation #19
A ‘true cost of service provision’ regulation is implemented regarding the pricing of essential bank services. The banking and financial sector is regulated like utilities, rather than viewed as profit centres yielding infinitely rising returns for management and shareholders.
Recommendation #20
A levy is imposed on the financial sector for the government deposit guarantee, and calculated to be the approximate size of the derived market benefit. The Big Four’s heavy concentration and majority control over financial system assets means theyalready reap significant cost savings due to economies of scale.
Recommendation #21
The alleged benefits and costs of high frequency trading are reviewed. Algorithm-based trading has led to heightened volatility in many of the world’s markets and innumerable cases of market manipulation, such as front-running of orders by large institutional players with computerised infrastructure advantages.
Recommendation #22
Lender’s mortgage insurance (LMI) is disallowed. The shifting of risk to mortgage insurers is a form of private moral hazard providing banks with an incentive to lend without considering the capacity to repay. LMI does not afford lenders any real protection in a major crisis as these companies are often severely under-capitalised for the sizeable real estate risks they are insuring.
Recommendation #23
The RBA raises the interest rate. The current speculative housing price booms in Sydney and Melbourne are amplified by the cuts to the cash rate in recent times and thus should be reversed in an attempt to dampen speculation. This may provide an incentive to many highly-leveraged and negatively-geared investors to offload their properties and dissuade new entrants into the market. The knock-on effects of record low interest rates also negate the ability of retirees, dependant on their cash savings, to spend within the domestic economy. By sustaining housing price growth through lower interest rates, the RBA has reduced incomes which will inevitably push more retirees onto the pension as their bank accounts yield increasingly fewer returns.
 
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Housing affordability must-do 23 banking recommendations: Lindsay David and Philip Soos 

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Deniliquin had returned to the investor radar, local agent Ashley Hall at Big River Real Estate said.
"They come from far and wide," he said.
"Last week we have investors down from the Gold Coast, but more regularly from Sydney, Melbourne, Adeiaide and WA too," he said.
His Deniliquin agency has the most popular investor listing on realestateview.com.au at the moment.
"Yields are going up," he explained, adding the town's recent mention in a magazine list helped.
"But Deniliquin property is coming into its own," he said given the elevated employment for the rice mill, the abattoir and the police station under construction   
  
1) 428 Wood Street, DENILIQUIN, NSW, 2710
With six bedrooms spread across two brick properties on a 974 square metre block, this Deniliquin find comes with a motivated vendor and long term tenants.
The property is currently returning $200 per week for the four bedroom, two bathroom house and an additional $160 per week for the two bedroom fully renovated unit.
<a href="https://www.realestateview.com.au/Real-Estate/428-wood-street-deniliquin/Property-Details-buy-residential-8709714" target="_blank">Click here to see the property</a>
 
2) 45 Deans Road, AIRDS, NSW, 2560
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A three bedroom offering complete with a renovated bathroom, second toilet, solar panels and gas cooking make up this listing which has attracted the second most clicks from investors on realestateview.com.
It has been marketed as a "bargain in Sydney's Western Suburbs." It is now sold to an investor. Initially it was advertised at offers over $380,000 with the vendor sensing the strong interest upped it to over $420,000.   
It noted that market rents for the area hover between $350 and $360 per week, making "this the ideal investment," Wayne Browne, the listing agent at Prudential Real Estate suggests. 
Wayne Browne told Property Observer that 70% of his buyer interest came from investors on the offering. The wide net cast through the website listing, allowed the buyer to come from 40kms away at Punchbowl.
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<a href="https://www.realestateview.com.au/Real-Estate/45-deans-road-airds/Property-Details-buy-residential-8638014" target="_blank">Click here to see the property</a>
 
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Deniliquin tops most clicked investor listings on realestateview.com.au

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GUEST OBSERVER
If you’ve decided that buying your dream home is out of reach but purchasing a property as an investment for its rental income is more attainable, here's my advice. 
Research your suburb 
Although some suburbs might seem ‘cheap’, it’s important to do some research on the demographics of the area you’re buying in to. What are the local schools like, who are the main employers, what’s the average age/lifestyle of local residents. All of these things help you determine what kind of tenants your property will attract. 
Choose a property with rental appeal 
When you’re looking at property, look for the things that would appeal to you as a potential renter, what is the outdoor space like? is it quiet? is the building easily accessible? what’s the parking like nearby? All of these things will help attract the right kind of tenants and ensure you get a good rental return. Also, if the property needs work to make it more appealing, do it as soon as you can after purchasing the property - while it might seem like yet another up-front cost, it will mean less ongoing maintenance. 
Choose the right home loan
The pricing and process for taking out an investor loan has changed in the past few months, with several lenders tightening their lending policy so it’s worth doing your research into which providers are offering loans for your loan amount and LVR at the most competitive rate.  
Go with a good agent 
As a first time investor you’ll likely want to use an agent to manage tenants, especially when it comes to finding them, checking their history and drawing up the rental agreement. Go for a trustworthy agent with local knowledge and a good track record. Over time you might be able to takeover the management of the property with the real estate agent only involved in the set-up phase.   
Take out Landlord’s Insurance 
Landlord’s Insurance is something that protects you in case of property damage or lost income if the property can’t be rented unexpectedly or your tenants do a disappearing act. 
Know your legal limitations
As a landlord you’re obliged to maintain a watertight property with a legitimate floorplan and all the relevant safety measures like fire escapes and fire alarms. Also, understand the approvals required for any renovations, maintenance or changes to the property and the notice you’re required to give tenants re accessing the property for inspections or making repairs.  
Budget for the maintenance costs 
On top of Landlord’s Insurance, you will have other costs to cover over the course of a year, including council rates, water rates or strata if you’ve bought an apartment. Plus, there will be things that need repairing and it’s always good to have a buffer of cash in case of an emergency ceiling leak.
Get a valuation every few years 
If you want to use the equity in your investment, refinance your home loan, sell or improve your property it’s handy to have a valuation done to know where you stand, it might open up several options you didn’t know existed.
 
STEVE JOVCEVSKI is property expert at Mozo.com.au. 
 
FOR MORE INSIDER INFORMATION ON PROPERTY LOANS, RATES AND MORE: DOWNLOAD THE<a href="/guides/get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook"> FREE MOZO EBOOK</a>.
 
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First home buyers advice for buying investment property instead: Mozo's Steve Jovcevski

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The property clock is a simple broad brush means to suggest where property markets are - and what direction prices are moving in.
The valuation firm, Herron Todd White has placed capital and regional cities onto the property clock.
<a href="/images/2015/06/19/clock.jpg" target="_blank"> Click to enlarge</a><img src="/images/2015/06/19/clock.jpg" alt="" width="901" height="863">
 
Click <a href="/expert-insights/perth-in-decline-on-the-june-2015-national-property-clock">here to see the Perth property clock</a>.
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Sydney, Melbourne and Brisbane on the June 2015 property clock

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The Melbourne buyers' advocate David Morrell says he is finding it "incredibly hard to buy because you cannot justify the prices."
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He said most reserves were being passed easily.
"Are we in a bubble? Of course we are. It just depends who is caught with the parcel," he said.
 "But in my opinion, it is incredibly hard to buy because you cannot justify the prices," he suggested in his regular Monday auction roundup in the Australian Financial Review.
He recently blogged "the really bubbling bubble" is at $1 million to $5 million.
He pointed the finger at a June $4.66 million Armadale sale (photo below) at 39 Lambeth Avenue — "a street where anything starting with a $4 would be hard to justify." 
<img src="https://i1.au.reastatic.net/456x342/fbf55072cbb6b761411114c1532d68b13e37f8d41325530b7bec5cf4a47ac81c/main.jpg" alt="39 Lambeth Avenue, Armadale" title="39 Lambeth Avenue, Armadale" data-index="0">
Only a month ago Morrell wasn't calling it a bubble.
"Our suspicion is that this isn’t a bubble, it’s a jumping castle.
"Frenetic leaps until it springs a leak and then a slow deflate."
But another Melbourne buyers' agent Mal James continues finding homes for clients, noting while typically at well above agent estimates, they have been <a href="https://marketnews.com.au/documents/May_Results.xlsx.pdf" target="_blank" style="line-height: 1.3em;">rarely above his own price appraisals</a>.
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Buyers' agent David Morrell says top end Melbourne bubble prices can't be justified 

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AACo chairman Donald McGauchie is determined the cattle company operates at the top of the price pyramid with every product, from is award-winning Wagyu beef, its live export cattle and its manufacturing beef from the Livingstone Beef processing facility.
"We are determined that every piece of beef we produce is of the highest-possible quality to deserve that premium pricing," <a href="/news/aaco-seeks-to-beef-up-its-branding-as-wagyu-wins-contracts">he told shareholders recently</a>.
The focus drove a 42% increase in boxed beef sales to $267 million, comprising 77% of the company’s revenue in the 2015 financial year, up from 59% in the previous financial year.
The company recently completed construction of the $91 million Livingstone Beef processing facility at Darwin enabling the selling of boxed beef to global markets including Asia and the United States. Livingstone IS a 45-minute drive south of the Northern Territory capital, that cost more than $90 million.
"Building our brands is the next stage of transforming and growing the business as Australia’s oldest listed company, AACo has a long, rich and vibrant history which is a powerful and attractive brand in itself," he advised.
Its Wagyu success story sees Fire &amp; Ice in Dubai, Tosca in Kuala Lumpur, Cha Cha Char in Brisbane and in Sydney, Sake and Restaurant Atelier among the fine dining restaurants who serve AACo Wagyu to their diners
"Our Wagyu continues to win awards for its taste and tenderness, with AACo’s flagship Master Kobe Wagyu named Grand Champion Beef at the 2015 World Wagyu Conference at Yeppoon in May," he said.
Last year the company’s Darling Downs Wagyu was named the Champion Wagyu at the Sydney Royal Spring Fine Food Show and won Gold medals at the prestigious Royal Melbourne Fine Food Awards, Australia’s premium fine food awards, and the Royal Queensland Food and Wine Show in May this year Darling Downs Wagyu was named the Grand Champion beef of the Royal Queensland Food and Wine Show.
He suggested AACo was at the forefront of technology, genetics and helping to set direction for one of the most exciting and rapidly growing food markets in the world.\
"Wagyu now comprises almost 42% of all boxed beef sold by the company, but makes up 52% of all boxed beef revenue.
"More importantly, the success of our Wagyu program provides us with the opportunity to create premium and super-premium brands we can leverage for our other beef brands.
"It also allows us to build certainty with our customers, and build longer-term relationships because it demonstrates the effort we are putting into building sustainable brands," he said.
Boxed beef revenue increased by $79 million in the 12 month to March 31, while cattle sales decreased by $49 million.
Beef sales revenue increased to $267 million, while live sales of cattle to third parties from feedlots was significantly reduced, in line with its strategy of maximising value through the entire supply chain.
Prime Minister Tony Abbott formally opened The Australian Agricultural Company’s Livingstone Beef facility near Darwin earlier this year.
The facility, which began operations in October last year, will eventually have the capacity to process 220,000 head of cattle a year on a two-shift-a-day basis. 
In July last year, the company purchased Pell Airstrip and Tortilla near Darwin, which acts as a hub for the company’s activities in northern Australia, including the Livingstone facility.
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AACo seeks to beef up its branding as Wagyu wins contracts 

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Champion swimmer Geoff Huegill, and his wife Sara, have listed their three-level, four-bedroom Darlinghurst terrace.
<img src="https://i3.au.reastatic.net/800x600/2d6664d430e542a15b0394ed2f35acf7e646ad65ce49253486049849a52a4fd3/main.jpg" alt="453 Liverpool Street, Darlinghurst" title="453 Liverpool Street, Darlinghurst" data-index="0">
The 133 square metre offering cost $1.97 million in late 2011. They bought it and still own 60% percent of the terrace, given it<a href="/news/nsw/proud-parents-geoff-huegill-and-sara-hills-dive-into-darlinghurst-terrace-abode-with-help-from-his-in-laws-title-tattle"> was bought in partnership with Geoff Huegill’s in-laws</a>.
Winning bronze and silver at the 2000 Olympics, Huegill established himself as one of the world’s best butterfly swimmers.
All up he set eight world records.
<img src="https://i2.au.reastatic.net/800x600/831635f6a9bb62fb96d84ff521055ebe2e2924bf1198cd1f5480dd6fe9601139/image3.jpg" alt="453 Liverpool Street, Darlinghurst" title="453 Liverpool Street, Darlinghurst" data-index="2">
Sara Huegill, nee Hills, was in the Sweaty Betty PR fashion firm prior to her 2011 marriage.
The Sunday Telegraph report the couple want mid-$2 million.
<img src="https://i4.au.reastatic.net/800x600/ba6ebe95ec724a0407cf388666e13b4be6e2b8db929d3673318d29d2896c4571/image5.jpg" alt="453 Liverpool Street, Darlinghurst" title="453 Liverpool Street, Darlinghurst" data-index="4">
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Geoff Huegill and wife Sara Hills list Darlinghurst terrace

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Jonathan Chancellor

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