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Heading into the quieter autumn months, the number of residential properties listed for sale rose in all capital cities in March, but still remain lower than a year ago, according to figures from SQM Research.
Nationally, residential listings rose 3.8% from 341,662 properties for sale in February to 354,738 in March.
A year ago there were 362,306 properties listed for sale.
Sydney recorded the largest rise in listings in March; rising by 7.6% or 1,966 properties, but listings are down by 15.7% or 5,170 properties year-on-year.
All other cities recorded monthly gains in the range of 2% to 6%.
However, apart from Melbourne (where listings are up 0.2% year-on-year), all capital cities have recorded declines in available real estate listings compared to March 2012.
“It is our opinion that differing from the recovery witnessed in 2009, the upturn in the Australian property market being experienced at present is a much slower, more normal cyclical uplift,” says Louis Christopher, managing director of SQM Research.
"Without the stimulus of a first home buyers grant (as given in 2009) this recovery is based fundamentally on interest rates cuts spread over a longer period of time and an economy recording moderate growth rates.
“This view fits with why in this current recovery stock levels are not in a state of rapid decline as what was recorded in the first half of 2009.”
First-home buyer numbers peaked in May 2009 following of the doubling of the first-home owner grant to $14,000 for those buying existing homes and trebling it to $21,000 for those buy newly built homes in October 2008.
The full boost ran between October 4 2008 and September 30 2009.
Between October 1 2009 and December 31 2009 the boost was halved.
<img alt="sqmapril8one" height="172" width="470" src="/images/stories/2013/04/sqmapril8one.jpg">
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Residential listings rise 3.8% in March without overall pre-Easter volume uplift: SQM

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Home builders and contractors expect the building industry to improve in the medium term, but are still struggling in the short term, according to the latest quarterly Master Builders National Survey of Building and Construction.
The overall  index rose above the neutral 50 mark over the March quarter, indicating that builders believe their own business activity will improve over the next six months.
But current conditions remain weak.
Own business profitability rose slightly in the March quarter but the index remains well below the neutral 50 mark.
Master Builders notes that "it may be some time before industry profitability improves".
"The index is showing signs of bottoming following a trend decline in the index over the past two years to levels below that recorded during the global financial crisis," says Master Builders.
The “key forward indicator” index for display centre traffic/commercial enquiries rose markedly in the March quarter.


Although remaining below the neutral 50 mark, the index is now higher than the average reading recorded during the past nine years. 

Master Builders says the improvement in this index “may be another sign that the market is finally responding to lower interest rates and that the worst may be behind the building industry”.

The results are based on a survey of more than 500 builders and contractors. 
Peter Jones, chief economist of Master Builders Australia, says while signs of a recovery may be beginning to emerge for the industry, the upswing is coming from a very low base and questions remain about its strength.


“The turnaround in the survey sentiment suggests previous interest rate cuts may be beginning to take hold, but builders are yet to see any benefit from the rate reductions.

“Builders reported less work on the books than in the previous quarter, sales contracts remained essentially unchanged and profits remain weak.

“The good news for builders came in some of the industry’s forward indicators. Display centre traffic and commercial enquiries increased markedly in the quarter and are now higher than the average reading recorded over the past nine years.

“Expectations for industry activity and own business activity also rose to levels above the survey’s neutral reading, which suggests there could be improvement for the industry in the short to medium term,” he says.
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Construction sentiment improving but not yet activity: Master Builders survey

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Interest rate cuts are starting to have an impact on the household sector with the RBA unlikely to lower the cash rate further over the coming months, says ANZ in its latest Australian Weekly Economic report.
The report, edited by senior economist Riki Polygenis and Katie Dean, head of Australian economics, says the most recent economic data – last week’s <a target="_blank" href="https://www.propertyobserver.com.au/land/building-approvals-up-31-in-february-a-material-improvement-hia/2013040460172?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">building approvals</a> figures and <a target="_blank" href="https://www.propertyobserver.com.au/retail/retail-sales-growth-best-since-2001-unless-youre-a-butcher-or-baker-commsec/2013040460169?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">retail trade data </a>- support the RBA’s growing confidence that interest-rate sensitive areas of the economy are responding to stimulatory monetary policy settings.
“In particular, improved consumer confidence appears to be translating into stronger consumer spending, with nominal retail sales growth robust in January and February following three consecutive monthly contractions in late 2012,” says ANZ.
ANZ says these ‘greenshoots’ suggest the RBA is a little more confident that it will not have to act on its easing bias over the next couple of months.
“That said, the RBA remains alert to uncertainties surrounding the transition towards non-mining sources of growth against a backdrop of a high Australian dollar, tight fiscal policy and weak credit growth.
“The next possible window for a rate cut is in June/July after the federal budget, but this will depend critically on how the labour market evolves and whether we see a turnaround in key leading indicators of non-mining investment (such as next week’s NAB survey data and the capital expenditure release in late May)," says ANZ.
The report notes a recent client survey, which found that activity in the residential housing market has improved with developers reporting increased levels of sales and inquiries.
“Residential construction activity has also picked-up, with firms in this sector anticipating an improvement in revenue growth over the second half of this year.
“In contrast, weak fundamentals in the commercial property sector (office and retail) continue to constrain investment in this sector. However, sales activity remains robust due to strong interest in prime retail and office assets, particularly from offshore investors.”
Currently the cheapest home loan rate appears to be a one year fixed-rate home loan of 4.69% offered by non-bank lender eMoney, though it does require a hefty 25% deposit. 
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="124" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">
Loans.com.au
</td>
<td width="124" valign="top">
Blackboard special
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="116" valign="top">
5.01%
</td>
</tr>
<tr>
<td width="134" valign="top">
State Custodians
</td>
<td width="124" valign="top">
State Custodians Peak Performance Offset (Refinance Only)
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="116" valign="top">
5.35%
</td>
</tr>
<tr>
<td width="134" valign="top">
UBank
</td>
<td width="124" valign="top">
UHomeloan for refinancing
</td>
<td width="97" valign="top">
5.12%
</td>
<td width="116" valign="top">
5.12%
</td>
</tr>
</tbody></table>
 Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
eMoney
</td>
<td width="123" valign="top">
Pro Pack 75
</td>
<td width="95" valign="top">
4.69%
</td>
<td width="114" valign="top">
5.40%
</td>
</tr>
<tr>
<td width="137" valign="top">
Quick Direct
</td>
<td width="123" valign="top">
Package one year fixed
</td>
<td width="95" valign="top">
4.79%
</td>
<td width="114" valign="top">
5.46%
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank
</td>
<td width="123" valign="top">
UHomeLoan for refinance fixed rate one year
</td>
<td width="95" valign="top">
4.83%
</td>
<td width="114" valign="top">
5.03%
</td>
</tr>
</tbody></table>
 
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="131" valign="top">
Provider
</td>
<td width="131" valign="top">
Loan name
</td>
<td width="96" valign="top">
Rate
</td>
<td width="111" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="131" valign="top">
ME Bank
</td>
<td width="131" valign="top">
Member Package SMHL Standard Home Loan
</td>
<td width="96" valign="top">
4.99%
</td>
<td width="111" valign="top">
5.49%
</td>
</tr>
<tr>
<td width="131" valign="top">
Teachers Mutual Bank
</td>
<td width="131" valign="top">
Teachers Fixed Option Loan
</td>
<td width="96" valign="top">
4.99%
</td>
<td width="111" valign="top">
5.90%
</td>
</tr>
<tr>
<td width="131" valign="top">
AMP
</td>
<td width="131" valign="top">
Select Package Residential Fixed 3 yrs 100k+
</td>
<td width="96" valign="top">
5.09%
</td>
<td width="111" valign="top">
5.54%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
 
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ANZ says rate cuts starting to have a positive impact: a guide to lowest standard and variable mortgage rates

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Economists have all but ruled out a rate cut on May 7, the next time the RBA board meets to decide on interest rates.
Of the 25 economists surveyed this week by Bloomberg, 22 expect the cash rate to remain unchanged.
Those tipping a rate cut are Citi, Macquarie and BNP Paribas economists.
Of those economists surveyed this week, 15 out of 25 expect no rate cut in June either.
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No rate cut in May say economists: Bloomberg

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A Lend Lease consortium has been chosen by the Victorian government to build the $630 million new Bendigo Hospital.
The Exemplar Health consortium includes Capella Capital, Siemens and Spotless.
The hospital will be built via a Public Private Partnership (PPP) with Lend Lease investing 50% of the equity alongside Siemens.
The new Bendigo Hospital will feature 372 in-patient beds, 10 operating theatres, an integrated cancer centre, a mental health unit and a helipad in addition to a mix of commercial developments.
The works include a new hospital in addition to some minor refurbishment of heritage buildings.
“We are excited to be part of the winning consortium and are looking forward to working with the Government to achieve the best result for the community in Bendigo,” said Lend Lease group chief executive officer and managing director, Steve McCann
Commencement of site works is expected to begin shortly after May 2013.
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Lend Lease consortium to build Bendigo Hospital 

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Mirvac finance director Greg Dyer has resigned.
He has only been in the role for eight months and was appointed prior to<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/incoming-mirvac-ceo-susan-lloyd-hurwitz-to-start-in-november-as-board-backs-chairman-james-mackenzie/2012091156515"> Susan Lloyd-Hurwitz</a> taking over as CEO and managing director from Nick Collishaw in November.
In a statement Mirvac said he would remain to assist in transitional arrangements until September 2013.
He will step down from the board immediately.
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Mirvac finance director Greg Dyer resigns

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ING Direct’s much-touted position as Australia’s fifth biggest lender behind the four major banks and their subsidiary brands could come under threat from a surging Macquarie Bank eager to pick up a greater share of the mortgage market.
While <a target="_blank" href="companies/macquarie-bank">Macquarie Bank</a> has more than doubled its home lending arm in the space of a year, albeit from a low base of less than $2.8 billion to in excess of $6 billion, ING Direct’s $37 billion mortgage book has hardly expanded in the past year, APRA banking figures show.
APRA figures show an ING Direct loan book of $37.5 billion as of February 2013 compared with a $37.2 billion loan book 12 months ago.
Macquarie also has a securitised mortgage portfolio of $5.9 billion (ING Direct has no wholesale lending arm) which it using to help fund mortgage lending in Mark Bouris’ fast growing Yellow Brick Road franchise business of around 150 offices, in which it also has an 8.3% holding.
Macquarie Bank, a subsidiary of investment banking giant the Macquarie Group, quit the mortgage market in the wake of the <a target="_blank" href="?option=com_googlesearch_cse&amp;q=Macquarie%20Bank">GFC</a>. Prior to the crisis it was predominantly a wholesale mortgage lender, providing funding for the likes of Virgin Money, via its PUMA securitisation program.
While Macquarie clearly has some way to go before it has a loan book to rival that of ING Direct it has a bigger source of retail deposits to lend against - $35.6 billion compared with ING Direct’s $31.7 billion and a stronger domestic balance sheet with local assets totalling $59.6 billion compared with ING Direct’s $49.2 billion.
Macquarie is not hiding its aspirations in the mortgage space.
As part of its annual operational briefing in February, Macquarie Group CEO Nicholas Moore noted the group’s expanding $11.1 billion mortgage portfolio and that “originations are expected to continue to grow significantly in the 2013 calendar year”.
<a href="/news">Macquarie Bank’s deal to fund Yellow Brick Road</a> was highlighted by Business Spectator’s Robert Gottliebsen earlier this year, who wrote that a mortgage and deposit war could erupt on the back of the cheap funding available to the Yellow Brick Road franchise network.
Tale of the tape – Feb 2013
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="253" valign="top">
Macquarie
</td>
<td width="274" valign="top">
ING Direct
 
</td>
</tr>
<tr>
<td width="253" valign="top">
Loans to owner occupiers $3.4 billion
Loans to investors $2.86 billion
Securitised loans: $5.9 billion
Total deposits $35.6 billion
Total resident assets $59.6 billion
 
</td>
<td width="274" valign="top">
Loans to owner occupiers $27.8 billion
Loans to investors $9.7 billion
Securitised loans: $0 billion
Total deposits $31.7 billion
Total resident assets $49.2 billion
</td>
</tr>
</tbody></table>
Source: APRA
 
<hr class="system-pagebreak">
There are other obvious indications that Macquarie Bank is ramping up its mortgage lending.
The Australian Financial Review reported this week that Macquarie Bank had almost doubled the number of business development managers (BDMs) from 13 to 21 who work with its mortgage broker distribution channel – not far below the average of 25 to 35 BDMs employed by the major banks.
Nearly all of Macquarie Bank’s mortgage lending is done through the mortgage broking channel.
In addition The AFR reports that Macquarie upped its commission to mortgage brokers last year.
Combine this with its competitive mortgage offerings and the bank has soared up the top lending charts of Australia’s biggest mortgage broking franchise, Mortgage Choice, accounting for 3.9% of home loans sold by Mortgage Choice in March, up from 2.5% in February.
Macquarie is now Mortgage Choice’s 8th biggest lender with CEO Michael Russell telling the AFR it has an “insatiable” appetite to expand home loans.
ING Direct reported a net profit after tax of $276.9 million for the 2012 calendar, down 9% from last year.
In June last year, Lisa Claes, executive director of direct business at ING Direct, told Property Observer the bank was not driven by market share targets, “but by a sustainable growth proposition”.
“We want to grow our mortgage book responsibly – we are happy with where we are, but we are not complacent,” she said.
ING Direct’s offers variable home loans starting from 5.66% (for loans greater than $250,000) and a three-year fixed home loan at 5.19%.
Macquarie Bank offers variable home loans starting from 5.44% (this includes a 1.01% discount off the standard variable) and a three-year fixed home loan at 5.39%.
 
 
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Macquarie Bank lining up to take ING Direct's fifth banking pillar crown

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The number of dwellings approved for construction rose 3.1% in February in seasonally adjusted terms, after falling for two months, the latest ABS data shows.
This follows a 2% fall in January (upwardly revised from a 2.4% decrease).
Approvals are up 12.8% over the year.
“We have seen indicators of consumer sentiment improve over recent months and we may well be seeing an early sign that this is flowing through to activity on the ground. After two consecutive months where approval numbers slipped back it is pleasing to see a material improvement in February,” said HIA economist, Geordan Murray.
Master Builders Australia chief economist Peter Jones welcomed the improvement in February but expressed concern that a negative trend has developed. 
“Despite the improvement in the seasonally adjusted figures that were buoyed by an unusually high public sector housing figure, a negative trend has emerged in the ‘other’ dwellings sector (units and apartments). 
“The overall negative trend in approvals is very worrying for builders. Despite green shoots and early signs of a recovery, momentum has failed to build," he said.
Dwelling approvals increased in February in South Australia (23%), Western Australia (5.3%), Queensland (3.8%) and Victoria (0.3%) but decreased in New South Wales (-7.7%) and Tasmania (-5.8%) in seasonally adjusted terms. In seasonally adjusted terms, approvals for private sector houses rose 0.5% in February.
However, ANZ also noted the increase was dominated by strong growth in public sector detached house approvals, while private sector building approvals remained subdued (+0.9% month on month).
Private sector house approvals rose in South Australia (9.9%), New South Wales (7.8%) and Victoria (6.3%) but fell in Queensland (-7.7%) and Western Australia (-6.4%).
The value of total building approved fell 3.1% in February, in seasonally adjusted terms, following a rise of 7% in the previous month.
The value of residential building rose 2.5% while non-residential building fell 11%.
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Building approvals up 3.1% in February a "material improvement": HIA

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Retail property landlords have something to cheer about as retail trade rose by 1.3% in February after rising by an upwardly-revised 1.2% in January, the strongest start to a calendar year in more than a decade.
“Retail trade lifted by 2.5% over the first two months of 2013 marking the strongest start to a calendar year since 2001,” said CommSec economist Savanth Sebastian.
“The latest retail sales data is clearly encouraging. The low interest environment, coupled with buoyant share markets, and ongoing improvement in consumer confidence is supporting retail activity,” he said.
Sebastian notes the broad-based strength in retail activity with sales rising in 19 out of the 20 categories.
“In fact the only weakness in February was in specialised food retailers like butchers and bakers, however even that weakness followed the biggest gain in 16 years,” he says.
“Interestingly non-food retailing - which has been finding conditions particularly difficult over the past year - is now recording a healthy turnaround, having posted strong back to back gains in the past couple of months to be up 4.1% on a year ago.
“Over the past year the retail industry had to contend with an array of negative headwinds, however the latest result may just be the first sign of a revival in fortunes for the beleaguered sector.”
ANZ was more circumspect on the performance of the retail sector for 2013 to date.
"At this stage, it’s too early to tell whether the recent strength in retail sales will continue. Nevertheless, interest-rate sensitive parts of the Australian economy are now showing clearer signs of responding to lower interest rates," the bank said.
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Retail sales growth best since 2001 unless you’re a butcher or baker: CommSec

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The Australian housing market revival has continued into 2013 with “solid indications of rising buyer activity and increased confidence from sellers” says Australian Property Monitors (APM) in its latest market report.
“The revival of Australia’s housing markets in 2012 has been confirmed as leading indicators such as auction clearance rates point to a market heating up.
“Historically low interest rates are the fuel to this emerging fire which is no real surprise given the typical impact of low mortgage rates on buyer activity in previous housing growth cycles," says APM.
It adds that housing markets are “off and running in 2013, building on the buyer momentum generated through 2012 but now translating to more generalised and comprehensive market outcomes”.
Fairfax-owned APM has house prices up 1.5% over the three months to January to a median of $544,000 with units up 0.3% to a median of $413,000.
The Gold Coast has shown the greatest gain over this period with house prices up 2.2% though the key Gold Coast unit market has recorded no gains.
All othe capital city markets have recorded gains of 1% or more in their median house prices over the January quarter, with the unit market more patchy.
APM is confident of a return of first-home buyers in 2013, which along with investors were "significant contributors to the housing market revival of 2012".
“First-home buyer activity was largely generated by changes to various state government incentive schemes that acted to draw forward demand from this group.
“After a subdued start to the year, first home buyer activity is set to rise sooner rather than later, driven by low interest rates, a solid economy, and rising house prices and rents.
“Investor activity is also set to intensify in 2013, driven similarly by low mortgage and deposit rates, prospects of improved capital gains, and solid yields from most local markets," says APM.
APM also notes that the sharemarket is also a solid leading indicator of housing market activity, particularly in relation to prestige properties.
“With the All Ordinaries now holding above 5,000 for the first time in three years, a rising bull market will activate prestige markets that are finally showing early signs of emerging from a sustained period in the doldrums.
APM also notes an improved global economic outlook with the US housing market finally showing signs of life.
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Australian housing market “heating up” with FHBs and investors activity to pick-up: APM

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Joel Robinson

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

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Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

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	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
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	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
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	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
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</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

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The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

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Larry Schlesinger

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