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There was keen bidding when a $4.18 million warehouse conversion sale was secured in Sydney's inner west at weekend auction.
The former automative workshop at Annandale (above and below) attracted five bidders, narrowly falling short of the suburb record. 
Bidding on the 274-square-metre property at <a id="LPlnk130493" class="x_OWAAutoLink" href="https://www.bresicwhitney.com.au/buy/22-nelson-street-annandale-20956" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Nelson Street</a> started at $3.7 million.
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It sold to a young couple from Glebe who paid $80,000 above reserve through Chris Nunn and Nick Playfair from BresicWhitney.
They had shown about 250 groups through the property during the marketing campaign.
The Sam Crawford Architects-designed conversion won the 2016 MBA NSW winner for adaptive reuse.
"A remarkable change from an empty warehouse to a great living environment with lots of natural light throughout," the judging panel noted.
"Lowering the floor to obtain two storeys and including garages made the whole project come together.
"The mixture of recycled materials and new works well."
Filtered sunlight comes in from all angles of the home which offers 420 sqm of indoor and outdoor living space, including an open air courtyard with sawtooth beams above.
There's a second breakout living area on the mezzanine level, where there's also a king corner master suite with walk in wardrobe and dual ensuite.
The ground level features a home office with full bar and a wine cellar.
The last warehouse sale in the Sydney suburb was when The Block executive producer Julian Cress secured a record $4,275,000 through McGrath agent Damien West. Cress inherited the Johnstone Lane warehouse from his late father, the Archibald award-winning artist Fred Cress.
The four-bedroom weekend offering home came after the warehouse space was bought in 2013 by builder Joe Sidoti, director of developers SQ Projects, and wife Natalie for $1,525,000.
Sydney's top reported sale was at Woolwich.
The four bedroom house at <a id="LPlnk809740" class="x_OWAAutoLink" href="https://www.bresicwhitney.com.au/buy/5-margaret-street-hunters-hill-20425" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5 Margaret Street</a> (below) fetched $4.3 million through BresicWhitney who had suggested a $4 million buyers' guide.
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It had last sold at $1.85 million in 2003.
A blank space offering was on offer nearby at Hunters Hill when a lawn tennis court (below) sold at weekend auction for $3.55 million, some $250,000 above reserve.
It fetched well above the $2.8 million it sold for in 2016.
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The 900 sqm holding came with plans approved for a five-bedroom house.
The bidding started at $2.9 million with two young families seeking the building opportunity at <a id="LPlnk490482" class="x_OWAAutoLink" href="https://www.wardpartners.com.au/selling/NSW/North-Shore-Lower/Hunters-Hill/House/1P1584" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">31 Woolwich Road, Hunters Hill.</a>
The grass tennis court was once part of the 1893 house next door.
Sydney’s weekend auction clearance rate rose to 56.7 per cent from 294 reported results of 540 scheduled auctions.
Click here <a href="https://www.propertyobserver.com.au/images/2019/3/18/CL-March18.jpg" target="_blank">to enlarge</a>.
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The result was up on the 54.6 per cent preliminary clearance rate reported last weekend, which was after late results revised down to 48.2 per cent by Domain.
Melbourne's top result was <a id="LPlnk58530" class="x_OWAAutoLink" href="https://www.nelsonalexander.com.au/property/762779/22-gore-street/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Gore Street, Fitzroy</a> (below) which fetched $2.7 million after auction where it was passed in at $2.62 million.
The corner terrace had been listed with $2.5 million to $2.75 million price hopes through Nelson Alexander.
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The two bedroom 1860s terrace, on the corner of Little Victoria Street, had last traded in 2013 at $1,476,000.
The Domain Group reported an auction clearance rate of 54.8 per cent from 526 reported auctions of 744 scheduled auctions.
Former North Melbourne footballer Lindsay Thomas and wife Hannah didn't sell their Gowanbrae house which The Herald Sun reported passed in on a single $680,000 vendor bid. 
It now has <a id="LPlnk357820" class="x_OWAAutoLink" href="https://www.alexkarbon.com.au/buying/VIC/North/Gowanbrae/House/1P2051" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">a $735,000 asking price</a> through AlexKarbon agent Charles Bongiovanni.
The three-bedroom house, about 16kms north of the Kangaroo's training base, was bought in 2009 for $455,000 by the couple who have moved back to Adelaide after Thomas signed with Port Adelaide. 
Melbourne was the weekend's busiest capital, and had the second best clearance rate behind Sydney.
The REIV reported several Victorian suburbs and towns have recorded 100 per cent clearance rates so far in 2019 with six sales under the hammer in Warrnambool, three in Williams Landing and two in Clyde North.
The cheapest sale across the capital cities was in Melbourne at $270,000, but the price had fallen slightly since its last sale.
The <a id="LPlnk132829" class="x_OWAAutoLink" href="https://www.garypeer.com.au/search/view/1+16-newlyn-street-caulfield/6761#.XI3q2S0ZPs0" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">1/16 Newlyn Street, Caulfield</a> offering sold through Gary Peer who'd had a $250,000 to $275,000 price guidance.
The ground floor one bedroom unit had last sold at $271,000 in 2012.
There was a 36 percent sales success at Brisbane auctions from its 75 listings.
Canberra saw a 46 percent success rate from 64 listings.
There was a 50 percent success rate of the 70 listings in Adelaide.
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jchancellor-FAypfDUnLy

Sam Crawford-designed Annandale warehouse conversion attracts big weekend auction crowd

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Housing affordability supposedly ranks as a top-three Federal election issue, after the cost of living and healthcare and ageing, according to a survey by the Housing Industry Association.
Affordability ranked ahead of immigration and the environment, concluded the JWS Research survey of 1500 people.
"The importance of home ownership to Australians couldn't be clearer. Now more than ever, home ownership matters," the Housing Industry Association chief economist Tim Reardon noted.
It comes as first home buyers have been more active in the market with Sydney housing around 10% more affordable than this time last year.
A typical Sydney dwelling now costs $789,000, below the $884,000 it was early last year, according to CoreLogic. The biggest Sydney declines have been in the municipalities of Ryde and Canterbury-Bankstown.
Of course, it is not just those aspiring to first home ownership that worry about affordability, as separate polling research in Tony Abbott's seat of Warringah on Sydney's Northern beaches indicated.
The concerns of Warringah voters focused around infrastructure, especially roads and traffic congestion, population growth, environmental concerns, but also housing affordability for their children.
The focus groups, sponsored by the University of Canberra’s Democracy 2025 project and conducted by Landscape Research, suggested older Warringah voters were more engaged, more readily able to discuss issues in federal politics, while younger voters have largely tuned out, feeling powerless.
Reardon said the Australian dream of owning a home was "still embedded in the psyche of Australians". He adds with a federal election imminent, it was important to recognise that 71% of people believe governments have an important role in helping Australians achieve their dream.
Interestingly, the HIA research found that home ownership was viewed as especially important to achieving financial stability in retirement.
This comes as there's continuing debate about whether first home buyers should be allowed to access their superannuation.
It flared again recently after a key recommendation from Kenneth Hayne's Financial Services Inquiry.
Hayne says superannuation should be solely to look after Australians in retirement, not first home purchases.
Any incoming Federal Labor Government will accordingly phase out the Coalition government's First Home Super Saver Scheme that allows first timers to access their super accounts.
The scheme, which enables first time buyers to access extra savings put into their superannuation account, was introduced in the 2017 budget by then treasurer Scott Morrison. He argued it would help young people accelerate their savings to buy into markets.
Between the start of the program on July 1 last year and February this year, around 2400 people have made requests to access their super top-up.
That equated to around 4% of the first home buyers who'd secured a home loan over the period.
They have sought the release equating to a helpful $12,000 per person.
Labor voted against the scheme when it was created, but assures current users of the scheme they will not be affected by their policy. 
It is one of many housing schemes ditched by governments in recent times as they come and go.
We have seen off the National Rental Affordability Scheme and the First Home Saver Account schemes too.
I'd suggest one reason for the young voter feeling powerless was this constant changing tides with policy.
Navigating the housing market with confidence, for any age, requires policy consistency from our federal leaders.
This article first appeared in The Daily Telegraph. 
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Navigating the housing market with confidence requires policy consistency from our federal leaders

The Dolphin Point home that got a make-over by the team at Selling Houses Australia last month has been snapped up for $1.2 million pre-auction.

It was sold after 22 days on the market for homeowners Steve and Serena Blakey.

The newly married purchasers from Leeton - she is an artist and he is an ex-farmer - were looking for a sea change.

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The four bedroom home had previously been for sale since late 2017 when it came with $1.3 million.

Its price had dropped to $1.18 million late last year, just before its&nbsp;makeover by the&nbsp;designer Shaynna Blaze and gardening expert Charlie Albone.

The asking price dipped to $1.2 million last May.

There have been just five sales above $1 million at Dolphin Point since 2013, with three of them last year.

Perched on the headland, with panoramic ocean views, the 1960s beach house has been transformed by the team of designers.

They added a contemporary feel but retained the retro vibe of the property on Seaside Parade.

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Foxtel&rsquo;s Selling Houses Australia host Andrew Winter has been exploring the sleepy hamlet south of Ulladulla.

Prior to the make-over, the Selling Houses Australia team described the home as &ldquo;dated, mismatched and needing a lot of small maintenance jobs&rdquo;.

&ldquo;This is one family that desperately need our help,&rdquo; Winter said.

The&nbsp;<a data-auth="NotApplicable" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=AqX%2Fyxxn%2FCsKfNEzXNs%2BvxKe7ZZW379%2BIapVVCHkcj06tGRioNXHyeuLBhl6q6izqj%2FvASlSUJqBmaPgZslF%2BTU6OAk5d%2FywLkkLd%2B20tTdFRy2fNumWYIFMYLhR9rHyXn%2F5ZEd%2BilE%3D&amp;G=0&amp;R=https%3A%2F%2Fmaps.google.com%2F%3Fq%3D45%2BSeaside%2BParade%2BDolphin%2BPoint%26entry%3Dgmail%26source%3Dg&amp;I=20190221051014.000000d54961%40mail6-60-usnbn1&amp;X=MHwxMDQ2NzU4OjVjNmUzMmI0MWNmNjEwYTZmNDM4OTEwNjs%3D&amp;S=tACA-s78FDVKndhlaWUGqp5MOwnDaLA2yM_lyWovye0" id="LPlnk633125" rel="noopener noreferrer" target="_blank">45 Seaside Parade Dolphin Point</a>&nbsp;episode will likely air in the finale for the series in May.

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The Raine &amp; Horne Mollymook Milton agent Ben Pryde who secured the sale said it had &quot;been a whirlwind, but loads of fun&quot;.

&ldquo;The show will really showcase our region as a jewel on the South Coast.&rdquo;

Pryde said more than 80 turned out for the reveal open for inspection.

The Selling Houses Australia episode focusses on the lives of Steve and Serena Blakey and their four kids, who have loved the last 17 years living on the coast since paying $405,000 in 2002.

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It&rsquo;s been a wonderful place for the couple to raise kids and indulge their passion for surfing, but a few years ago their world was rocked when their youngest son contracted encephalitis (inflammation on the brain).

The family are selling up to fund his treatment.

Dolphin Point trophy home sold after Foxtel’s Selling Houses Australia makeover

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It was Brisbane's turn in the weekend auction spotlight when eight buyers registered to secure a $7.75 million New Farm offering.
It was sold through Ray White to a local property developer family by vendors Glenice and Allan Mein.
It is understood to have been purchased by Queensland rich-lister Kevin Seymour, after his grandson was spotted at the onsite auction.
The vendors had lived at the grand <a href="https://www.propertyobserver.com.au/https://rwnf.com.au/properties/residential-for-sale/qld/new-farm-4005/house/2043224" target="_blank">Griffith Street five-bedroom riverfront</a> for the last 20 years.
Ray White agent Matt Lancashire said four bidders were active after the bidding opened at $4 million.
"It quickly jumped in rapid-fire $500,000 increments to pause at $7 million.
“We had 80 groups through over the four week campaign.
"There were three written offers prior. . “This is a great sale for Brisbane and the prestige market and a good sign of things to come," Matt Lancashire said.
There is no boardwalk obstructing access to river.
Brisbane recorded a 36 percent preliminary clearance rate from the initial 97 reported results, including the nation's cheapest weekend auction sale.
It was when <a href="https://www.propertyobserver.com.au/https://www.century21.com.au/property/residential/buy/qld/4207/beenleigh/455892" target="_blank">16 Quarrian Crescent, Beenleigh</a> fetched $275,000.
The single level four bedroom house last sold for $215,000 in 2005.
It was initially listed last year with $299,000 aspirations.
Sydney's initial 61 percent success rate was the nation's busiest and strongest market, although only half of the 670 auction results were provided in the provisional result.
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It also saw a likely $8 million pre-auction sale in Centennial Park.
<a href="https://bencollierteam.com.au/property/48-martin-road-centennial-park/" target="_blank">Warwick, the Martin Road property</a> was sold through The Agency’s Ben Collier, who quoted a price guide of $8 million.
It was last sold at $5.1 million in 2005.
Warwick, the modernised Federation, was once owned by the University of NSW as its residence for its Vice-Chancellor.
With the Labour Day long weekend, Melbourne agent offered far fewer than normal.
There was a 51 percent success rate from the initial advisory of the 137 of the 222 on offer.
The top sale was at Elwood where $2.555 million was paid for a four bedroom Californian bungalow.
The <a href="http://www.chisholmgamon.com.au/buying/auction-times/view/1P13943" target="_blank">6 Vautier Street, Elwood</a> offering had been marketed with $2.3 million to $2.4 million price guidance.
The 1920s home last sold in 2012 at $1.75 million.
AMP Capital chief economist Shane Oliver suggested the weekend offerings indicated "volumes remaining weak."
He tweeted a number of factors, including "tight credit, record unit supply, sharp fall in foreign demand, negative gearing and CGT uncertainty are continuing to impact."
Adelaide was the second strongest city with a 54 percent success rate from the initial 46 results.
Adelaide's cheapest result was $560,500, according to Domain, when <a href="https://garyjsmith.com.au/listings/residential_sale-1808518-seaton/" target="_blank">31 Fortrose Avenue, Seaton</a> was sold.
The three bedroom house had a $499,000 price guide.
It last sold at $299,000 in 2004.
Canberra prices topped at $840,000, with a 38 percent success rate.
The top sale was the four bedroom home at <a href="https://tuggeranong.ljhooker.com.au/house-in-bonython-act-2905-au-2e4hqh?search=%2fsearch%2fhouse-for-sale%2fpage-1%3fsurrounding%3dFalse%26liveability%3dFalse#.XIPxcC-B2T8" target="_blank">36 Don Dunstan Drive, Boynton</a> which was a Rawson Homes-built offering sold through LJH Tuggeranong. 
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Weekend auctions led by strong riverfront sale in Brisbane

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Suncorp has unexpectedly declared a residential mortgage bond worth $120 million may not repay all investors.
It came after the share of borrowers in arrears rose to a trigger point, putting the distributions in doubt.
It has been reported it ranks as the first local mortgage bond to encounter difficulty since the global financial crisis, although this is disputed.
The original mortgage pool was heavy orientated to Queensland properties.
There are now around 1000 of the original 4800 loans still owing at an average $118,000.
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“It certainly is a canary," CLSA banking analyst Brian Johnson said, although others suggest not so.
“To get to this point, for a securitisation this old to go bust — that is weird,” Mr Johnson said.
“We think it is an isolated case,” Commonwealth Bank says in a credit strategy note Tuesday. “We are cautious of the development but not alarmed.”
The tranche of mortgages in the <a href="https://www.suncorp.com.au/content/dam/suncorp/corporate/documents/investors/investor-reports/2019/a17-2010-1-investor-report-feb-19.pdf" target="_blank">Apollo series trust</a> sold in 2010 reached a rate of 3 per cent of borrowers more than 60 days overdue on their mortgage, the Queensland-based bank yesterday said.
Suncorp said the announcement did not affect other tranches of loans in the Apollo trust.
The 3 per cent arrears figure on the group of borrowers is three times the rate of arrears in Suncorp’s broader mortgage portfolio of about 1 per cent.
The series trust which has shrunk from its original volume of $1 billion since it was first sold to investors.
Suncorp said all investors were expected to continue to receive monthly payments on the instalments on interest, but the principal amount on their investment would be diverted from subordinated debt holders to the highest class of shareholders, AAA note holders.
The distributions will be then staggered according to the class of shareholders until all funds are exhausted.
Suncorp also expected the Apollo trust tranche to shrink further over the coming year to meet the 10 per cent threshold which allows the bank to close the trust.
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The bank said at this point, subject to regulatory approval, it was expected that all holders were expected to receive the full principal amount once the trust was called.
“In the case of the APOLLO Series 2010-1, this is a very small number of customers going into arrears. As for the broader Suncorp retail portfolio, the total arrears is low at around 1 per cent,” a Suncorp spokesman said.
The mortgage bond was referred to in <a href="https://www.rba.gov.au/information/foi/disclosure-log/pdf/121305-65-74.pdf" target="_blank">a 2012 RBA analysis of LVRs</a>.
There is no indication of the location of the properties in default, with speculation the bond has disproportionate amounts of mining-boom towns.
There was a strong Brisbane presence in the original loans.
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The purchase price for the mortgage loans was $999,949,816.
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They were required, generally, to be secured by a registered first ranking mortgage over Australian residential property (in limited circumstances a property can be secured by a second ranking mortgage). 
It has been suggested the incident is not unprecedented, as other securitisation transactions have failed step down provisions in recent years due to delinquency rates and unreimbursed charge-offs that were subsequently repaid or cured and the transactions in question have reverted to pro-rata pay.
These step-down provisions are in place to protect senior note-holders and on each occasion the mechanisms have worked as planned.
For the Apollo 2010-1, there are no charge-offs to outstanding notes, all principal balances of notes are still 100% (i.e. Invested Amount equals Stated Amount per 3rd Feb reporting).
The transaction features 100% mortgage insurance coverage (LMI) from QBE LMI, which provides an additional layer of coverage for the noteholders in the event of mortgage default; to date there have been zero reported losses on sale with no LMI claims.
The current transactions size is $120 million down from an original $1bn, a pool factor of 12 percent.
The transaction features a 10 percent clean up call.
Suncorp have exercised these 10 percent clean up-calls on previously outstanding transactions. 
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Suncorp arrears shock in 2010 residential mortgage bond

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Home loan credit conditions tightened more than was probably required, the RBA governor Philip Lowe said today. 
"Overall, the evidence is that a tightening in credit supply has contributed to the slowdown in credit growth," he told the AFR Business Summit.
"The main story, though, is one of reduced demand for credit, rather than reduced supply.
"Even though the slowing in credit growth is largely a demand story, we are watching credit availability closely.
"It is perhaps stating the obvious to say that we want lenders who are both prudent and who are prepared to take risk.
"As lenders recalibrated their risk controls last year, the balance may have moved too far in some cases.
"This meant that credit conditions tightened more than was probably required.
"Now, as lenders continue to seek the right balance, we need to remember that it is important that banks are prepared to take credit risk.
"And it's important that they have the capacity to manage that risk well.
"If they can't do this, then the economy will suffer," Dr Lowe said.
"It has also been apparent through our liaison that some lenders became more cautious last year." "No discussion of housing prices is complete without touching on interest rates and the availability of finance. The low interest rates over the past decade did increase people's capacity to borrow and made it more attractive to borrow to buy an asset whose price was appreciating. But the increase in housing prices is not just about low interest rates."
Dr Lowe noted that recently there had been much attention paid to the availability of credit.
"This attention has coincided with a noticeable slowing in housing credit growth, especially to investors (Graph 10).
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<img src="https://www.rba.gov.au/speeches/2019/images/sp-gov-2019-03-06-graph10.gif" alt="Graph 10: Housing credit growth">
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"It is clear there has been a progressive tightening in lending standards over recent years.
"The RBA's liaison suggests that, on average, the maximum loan size offered to new borrowers has fallen by around 20 per cent since 2015.
"This reflects a combination of factors, including more accurate reporting of expenses, larger discounts applied to certain types of income and more comprehensive reporting of other liabilities.
"Even so, only around 10 per cent of people borrow the maximum they are offered.
"Sensibly, most people borrow less than what they are offered, so the effect of this reduction in borrowing capacity has not been particularly large."
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Home loan credit conditions tightened more than was probably required: RBA

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Warwick in Centennial Park, which was due to go under the hammer this weekend, has been sold.
The Martin Road property was listed through The Agency’s Ben Collier, who quoted a price guide of $8 million.
It was sold by the Ross family who paid $5.1 million in 2005.
It had previously traded at $3.8 million when sold by the Kemeny family.
The buyer was the highest bidder of a home up for auction at 21 Robertson Road, according to the local paper, The Wentworth Courier.
<a href="https://www.realestate.com.au/property-house-nsw-centennial+park-130433310" target="_blank">Warwick, the modernised Federation</a> which resonates charm, was once owned by the University of NSW as its residence for its Vice-Chancellor.
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Warwick, Centennial Park sells pre-auction

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Queensland's housing markets are expected to rank among the best performing across Australia during 2019 as they have the key factors that drive growth – liveability, affordability, booming infrastructure and enhanced economic prospects.
The Sunshine State leads the nation when it comes to confidence in residential property, as the gears shift from recovery to rising prices.
The NAB Residential Property Index recently tipped Queensland house prices will grow the fastest of the nation over the next two years.
The survey of more than 300 property professionals confirmed rising sentiment around the Queensland markets. And these property professionals also saw Queensland leading the way when it comes to rental growth.
South East Queensland is tipped to be the prime beneficiary of Sydney and Melbourne’s property slowdown, with the state possibly set to return to its place as Australia’s No 1 destination for interstate migration, as more families and downsizers from the southern cities cash-in for a lifestyle in the sun.
2018 saw strong price growth across Queensland, from suburbs of Brisbane to the coastal localities.
Economic growth and jobs now assisting the property market’s performance as Queensland emerges from the shadow of the mining downturn. 
It is the value gap between the East coast capitals that makes the move compelling for many.
The value gap is the largest it has ever been between Brisbane and Melbourne and the largest in 15 years with Sydney, according to CoreLogic.
A typical house in Brisbane is around $393,000 cheaper than Sydney and $227,000 cheaper than Melbourne, with Brisbane's median sitting at $542,000.
Observers suggest this affordability, coupled with positive economic signs, means Queensland is primed for future growth. 
The increasing opportunity to work remotely, having set up a home business, or taking up a new job in Queensland is a do-able option.
Brisbane's median house price sits at new highs, after posting a 2.3 percent increase in the September quarter, with the Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella saying the strength of growth proved that Queensland real estate was a good investment and could be relied upon to deliver capital growth.
“While other markets around the country are struggling in the face of tightened lending criteria and cooling investor appetite, the southeast corner of Queensland continues to deliver steady, sustainable growth,” Mercorella said.
“Queensland’s economy is proving itself to be a good performer, against a backdrop of national gloom, with new jobs bringing population growth and demand for housing."
The REIQ found coastal Queensland locations ranking as the state's strongest performers during 2018.
These included Mackay's housing market which has come back from the mining downturn to post 5.6 percent annual growth in its median house price, according to the REIQ's late 2018 figures.
"We are confident this growth can continue for the moment," the REIQ advised.
The region has the lowest unemployment rate in the state at 3.3 percent, while the population is growing as jobs attract workers back to the region and the rental market is one of the tightest in the state with just 0.9 per cent vacancy.
With a $340,000 median house price, Mackay is still one of the most affordable coastal districts, with prices still at levels below the peak of the mining boom five years ago.
The tightening of bank lending standards has been seen across Queensland, as noted by the latest SEQ report by Ray White on house and land sales.
Despite this there has been an increase in house and land package prices, up 7.8 percent in Brisbane, up 5.05 percent on the Gold Coast sales and 4.99 percent on the Sunshine Coast where house and land package are a popular way to create a new start.
Estate agent John McGrath noted recently that Queensland’s top two regional performers were the Sunshine Coast and the Gold Coast due to rising demand from interstate home owners and investors. 
One of McGrath's pinpointed suburb's to look out for in 2019 was Pimpama, in the northern part of the Gold Coast.
Pimpama recorded Queensland’s fastest population growth at 31 percent in FY17, with many enthusiastically buying or building brand new homes.
"Pimpama is affordable with a median house price of $475,000 and is located within the rapidly developing northern Gold Coast region along the M1 corridor," McGrath said.
The $100 million Pimpama City Shopping Centre opened in 2018 and the $56 million Northern Gold Coast Sports and Community Precinct is set to open in 2020.
There's also plans for a new train station to better connect Pimpama to Surfers Paradise.
 
 
 
 
 
 
 
 
 
 
 
 
  The economic forecaster BIS Oxford Economics concluded Brisbane will lead the mainland capitals with price growth.
 
JUST ADDED
 
 
 
 
 
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Queensland to rank among best state markets in 2019

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The 2018-19 NSW State Government surplus is projected to be $846 million, which is $273 million lower than at half-yearly review.
The details were in the NSW Pre-election Budget Update which was issued in accordance with section 24 of the Parliamentary Budget Officer Act 2010.
The Secretary of the Treasury released the NSW Pre-election Budget Update on 5 March 2019 which provides updated information on the current and projected financial position of the New South Wales general government sector.
This is the first time New South Wales has released a <a href="https://www.treasury.nsw.gov.au/news/nsw-treasury-releases-updated-economic-and-fiscal-projections" target="_blank">Pre-election Budget Update</a>.
The revenue for 2018-19 is forecast to be $477 million lower than at half-yearly review, reflecting weaker taxation estimates, including transfer duty and payroll tax.
The review noted the ongoing deterioration of conditions in the housing market had been a key challenge for the local economy in recent months.
Turnover in the housing market has fallen away sharply, while the median Sydney house price has fallen another 11⁄2 per cent in the two months since November 2018.
The Sydney house price is now down more than 10 per cent from the peak in mid-2017.
"This is the largest fall since the 1980s, but represents only a partial unwinding of the sustained price gains experienced in recent years," it noted.
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Revenue for 2018-19 is projected to be $81.3 billion, which is a downward revision of $477.3 million since the Half-Yearly Review. 
This takes into account downward revisions to multiple state taxation lines, including transfer duties of $393 million.
Transfer duty has been revised down by $393 million in 2018-19 and by $747 million over the four years to 2021-22.
While dwelling price declines have been closely in line with the Half-Yearly Review forecast, residential transaction volumes in recent months have been weaker than expected.
Residential transaction volumes in 2018-19 are expected to be 19.5 per cent lower than in 2017-18.
Transaction volumes are forecast to return to trend levels by the middle of 2021.
Since the Half-Yearly Review in December 31, 2018, revenue has been revised up by $363 million over the four years to 2021-22.
This is mainly due to higher GST revenue of $1.2 billion (reflecting an improved relativity recommended by the Commonwealth Grants Commission and a lower expected GST pool), largely offset by downward revisions to state taxation – including transfer duties ($747.0 million) and payroll tax ($573.1 million).
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Expenditure for 2018-19 is also projected to be $204 million lower reflecting reprofiling of expenses to better align with project and service delivery schedules.
Over the four years to 2021-22, budget surpluses are expected to average $1.3 billion per year. 
The update also advises land tax revenue has been revised down by $21.8 million in 2018-19 and by $82.8 million over the four years to 2021-22.
Land tax is assessed based on landholdings at 31 December each year, with assessments typically issued in the first half of the following calendar year.
The forecast revenue for 2018-19 incorporates actual landholdings at the end of 2018, replacing the Half-Yearly Review forecast which was based on the previous year’slandholdings.
For subsequent years, the revenue forecast incorporates lower expectations for residential land value growth.
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$393 million lower stamp duty hits NSW State Government revenue

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Foreign investor interest in Australia remains strong, the Foreign Investment Review Board (FIRB) chair David Irvine suggests.
But the latest FIRB report revealed a strong shift with the United States stepping up its investment in the 2017-18 period accompanied by declining Chinese investment easing into second place.
The United Kingdom, Singapore, Canada, the Netherlands and France make up the top seven.
The latest report on foreign investment showed the US recorded a $10 billion increase in approved investment to $36 billion in 2017-18, with significant increases in real estate and the manufacturing, electricity and gas sectors.  
China was the second largest source country with a $15 billion decrease in approved proposed investment to $23 billion.
The reduction in approved Chinese investment was due to falls across all investment sectors but especially property. Chinese proposed investment peaked at $47.3 billion in 2015–16.  
Chinese investment in real estate dropped to $12.7 billion in 2017-18 from $15.3 billion the year before, though still accounted for a quarter of foreign real estate investment.
Victoria gets the greatest share of Chinese residential investment with 46% of all approvals, with NSW in a distant second with 23% followed by Queensland's 17%.
The data doesn't track people who don't need to request approval, which means NSW might be actually getting more investment. 
But it seems Melbourne retains advantages over Sydney in terms of prices and taxes. 
Chinese buying is being impacted by several factors, local and international.
There's been the unexpected cancelling of promised mortgage loans by Australian banks, plus the higher foreign stamp duty taxes, along with Chinese government capital controls making it more difficult to move money from China, suggests Carrie Law, the boss of the Chinese property portal Juwai.
"We expect Chinese buying to be flat in 2019," Law thinks.
I don't think we ought regard the recent trend as permanent given tailwinds that will support Chinese buying including the still-strong Chinese wealth growth.
There is the desire to get a bargain while the market is soft. Plus, Law suggest there is a lack of investment opportunities in China, along with a possible shift in investment from the U.S. to Australia due to any emerging trade war.
Additionally the yuan’s weakness is not holding back investment in property as there is an advantage in currency rates in favour of Australia compared to other major countries. 
The Chinese also lack appealing alternative investments at home.
Interestingly, the Federal Government's crackdown on residential properties held by foreigners in breach of the foreign investment rules uncovered just 131 now-sold illegally held properties in 2017-2018.
No nationalities were advised in the figure which was up slightly from the 96 ordered forced sales in 2016-17.
There were other breaches that did not see any forced divestment.
More than half the breaches identified were residential property in Victoria, while 20% related to property in New South Wales after the Australian Taxation Office (ATO) completed around 1,400 residential real estate investigations during the year.
ATO data matching analysis is increasingly important in compliance investigations. 
Data matching made up 63% of the 1,700 cases investigated in 2017–18.
Although information received from the community is a source of intelligence, only a small proportion actually involved a breach of the Act.
The report noted that in most cases the owners of the properties reported by community members were found to be Australian citizens or permanent residents.
That suggests we might a little too quick to judge our new neighbours.
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Australians are too suspicious of the nationality of our new neighbours

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<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/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Jonathan Chancellor

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