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While the RBA’s decision to leave interest rates on hold is good news for buyers, any suggestion that it’s strictly a buyer’s market are wide of the mark.
Demand from buyers is strong and should remain resilient throughout the winter months, so properties that do come to market can be expected to be the subject of strong competition.
The continuing low interest rate environment is obviously good news for buyers, but the opportunities for vendors shouldn’t be discounted.
From an agents’ perspective there is a dearth of stock coming to market and those properties that are available are capturing broad interest. Where realistic price points are adopted, vendors are reaping the rewards.
The decision to leave interest rates on hold after last month’s cut, which was perhaps surprisingly embraced by the major lenders, maintains the attractive fundamentals for the vendor’s side of the equation as well as the buyer’s.
Vendors weighing up a sale should consider moving into action sooner rather than later. Listing a property before the spring selling period comes along means it will be subject to less competition.
Leanne Pilkington is general manager of<a title="Laing + Simmons" href="https://www.laingsimmons.com.au/" target="_blank" rel="nofollow"> Laing + Simmons</a>
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Steady cash rate is good news for both buyers and vendors: Leanne Pilkington

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While most agree with the RBA's decision to leave interest rates on hold in April, talk in some circles of the next rate movement being upward fails to account for the fact that consumers are still not spending.
A quick glance into retailers’ windows tells an interesting story.
Ever since interest rates began a downward movement in the cycle, there has been speculation as to when they may begin rising again.
Some economists are even suggesting the next movement may even be up. But on the ground, the case for a near-term increase in rates is unfounded. Retailers are still doing it tough and there is heavy discounting occurring across the retail sector.
Some retailers are discounting winter stock before the winter selling season has even begun.
In terms of positive sentiment among consumers, retail is the obvious barometer and from the perspective of most retailers, any supposed increase in sentiment is yet to flow through to sales.
From a housing perspective, transactional activity is ticking along with encouraging, if unspectacular, results occurring.
However, any recovery in the market to date can only be described as slight, and gentle fiscal policy is required if any recovery is to be maintained.
The market is heading into the traditionally more subdued winter selling period and as such we believe the next movement in rates should be downward to support the market during this time.
Leanne Pilkington is general manager of<a title="Laing + Simmons" href="https://www.laingsimmons.com.au/" target="_blank" rel="nofollow"> Laing + Simmons</a>
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The next rate move should be downward: Leanne Pilkington

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The Reserve Bank’s decision to cut the official cash rate by a further 25 basis points is welcome news, but the housing market remains in need of a more coordinated approach to reach a full recovery.
As ever, the willingness of the banks to take a fair and reasonable course of action and pass the rate cut on in full is crucial to the impact of the RBA’s decision.
Recent cuts to the official cash rate have not had the desired impact, and while activity has picked up with the commencement of the spring selling period, there is substantial improvement still to be realised for the sector to be deemed healthy again.
Government obviously recognises the important role the housing market plays in an economic context, evidenced by the slate of property-related taxes it relies upon.
It therefore seems reasonable that a more coordinated approach between all levels of government and the residential sector should be pursued to improve the health of the sector.
A reconsideration of stamp duty is the most obvious place to start.
Considerable evidence already exists to support the idea that government stands to gain substantially increased revenue associated with increased transactional levels should stamp duty be abolished.
To suggest this tax is too important a source of revenue is erroneous and obsolete.
Another area requiring a commitment from government is an improvement to the planning and development approval process.
For too long incentive programs have been focused on the buyer side of the equation. Perhaps a more serious focus on addressing developer concerns, such as levies and the speed of the approval process, would enable the RBA’S interest rate cuts to have a more measurable and significant impact.
Leanne Pilkington is general manager of<a title="Laing + Simmons" href="https://www.laingsimmons.com.au/" target="_blank"> Laing + Simmons</a>
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Passing the rate cut on in full is crucial

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As the housing market emerges from the traditionally quieter winter period and with dwelling prices generally flat at present, the RBA’s decision to leave interest rates unchanged  was the right move.
Despite figures from Deloitte this week perhaps surprisingly showing better than expected retail sales for the first half of the year, there is little doubt that a steady interest rate environment is essential for the ongoing health of the economy in general and the housing market specifically.
There is still a degree of caution among consumers, and sentiment remains subdued in most discretionary categories.
This caution extends to the housing market, and as such the decision to leave rates unchanged is an important platform for confidence to improve going forward.
Having said this, it is encouraging to see activity appearing to improve with the onset of spring. Traditionally the strongest selling period of the year, this spring takes on extra importance given the subdued transactional activity in the year to date.
The good news is clearance rates in the Sydney market have improved in recent weeks, and genuine buyers are emerging with a greater determination to secure their desired property.
Vendors who have waited for spring to go to market can expect well presented, realistically priced properties to be the subject of stiff competition.
The more affordable markets are attracting substantial interest from owner-occupiers as well as investors seeking to capitalise on the low interest rate environment, while the prestige market appears to have stabilised in recent times.
Current market conditions appeal to a broad range of buyers.
Despite the banks continuing to apply tight lending criteria, for those with the financial capacity the current market presents some compelling opportunities.
Investors are increasingly recognising the positive fundamentals, while first-home buyers’ incentives are still applicable for certain properties. In particular, those looking to upgrade have a significant opportunity to capitalise on the closing price differential between the middle and top-end markets, with prestige prices stabilising.
Leanne Pilkington is general manager of<a href="https://www.laingsimmons.com.au/" title="Laing + Simmons" target="_blank"> Laing + Simmons</a>
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The RBA's decision to leave rates on hold will improve housing market confidence

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A co-ordinated approach from government at all levels is necessary to support the housing market and the broader economy, and the need to invest in infrastructure is a critical component of this.
 
While the global economic picture dictates the need for a conservative budget, spending cuts that aren’t accompanied by a forward-thinking plan will serve only to postpone, and possibly cause further damage, to an already flat housing market. 
It’s not just the obvious sectors like real estate agents and tradespeople that are being negatively affected by such an approach. A strong residential property sector has considerable reach down the supply chain and a commitment to delivering new infrastructure is one way to influence confidence and improve activity in the housing market, which has an important flow-on effect. 
The federal government’s decision to abandon its support of the north-west rail link, despite its capacity to provide funding, is particularly disappointing given current economic conditions. 
A co-ordinated approach involving the delivery of appropriate infrastructure, encouraging developers in the current business environment and supporting affordability is required if the housing market is to emerge from a stagnant state. 
Ignoring the infrastructure component represents a missed opportunity for the housing market and the health of the broader economy as well.
Leanne Pilkington is general manager of<a target="_blank" title="Laing + Simmons" href="https://www.laingsimmons.com.au/"> Laing + Simmons</a>
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Government must co-ordinate at all levels to invest in infrastructure and support the housing market

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The housing market has been flat for quite some time and was in dire need of an injection. Therefore this interest rate cut is positive news on the surface. 
The way that government and regulatory bodies have allowed the market to slide to its current stagnate state can only be described as neglectful. Hopefully, today’s decision represents recognition that buyers, mortgage holders and the many industries down the supply chain that rely on a strong housing market are all in need of support. 
The RBA’s decision to lower rates, a decision traditionally well received by mortgagees, can no longer be relied upon to provide relief. 
Since the major banks have clearly demonstrated their unwillingness to be guided by the Reserve Bank, mortgage holders can be forgiven for wondering what all the fuss is about. 
Should any bank fail to pass on the rate cut in full, and choose to face the public backlash instead, it would represent a direct snub to mortgagees, particularly those in the mortgage belt suburbs. 
It would also again call into question the effectiveness and relevance of the Reserve Bank.
Leanne Pilkington is general manager of<a href="https://www.laingsimmons.com.au/" title="Laing + Simmons" target="_blank"> Laing + Simmons</a>
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RBA rate cut good news on the surface, but can’t be relied on to provide relief: Leanne Pilkington

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While yesterday’s Reserve Bank’s decision to cut interest rates will have come as a surprise for some, I have always said the next cash rate movement was always going to be down – it was just a question of when.
More important than the 25-basis-point reduction is the fact that rates have declined for two consecutive months now, confirming they are trending in a downward direction. This trend is paramount to buyer confidence and is another factor supporting what is already a buyers’ market.
While European economic woes continue to loom overhead, those with secure employment on the lookout for property will rarely experience an environment as attractive for buying as the current market.
Prices are stable, and vendors are necessarily being more realistic when it comes to price. The emergence of a downward interest rate trend will have further positive bearing on affordability.
Of course the official cash rate is one influence, and much will depend on whether the banks, which admittedly have seen their own costs of borrowing increase, pass on the rate cut to their customers.
In the context of global uncertainty, as the impacts of the European debt crisis filter through to the domestic market, this decision should be welcomed as a safeguarding measure.
Leanne Pilkington is general manager of<a target="_blank" title="Laing + Simmons" href="https://www.laingsimmons.com.au/"> Laing + Simmons</a>
 
 
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Rate cut will improve housing affordability

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The declining interest rate environment is combining with other factors including a lack of new development and rising rents to create an interesting trend in the real estate market: the clock is being wound back 10 years. 
There are signs of a repeat of the conditions experienced in the early 2000s, when lower interest rates stimulated the real estate market.
 
In recent years interest rates have moved in an upward direction before remaining steady for the past 12 months. A higher interest rate environment, while keeping inflation under control, adversely impacts the economy and this is where the market has found itself. 
But the Reserve Bank decision to lower the official cash rate could represent a crucial shift in outlook for the economy as a whole and the real estate market specifically. 
Ten years ago lower interest rates stimulated the property market, and we find ourselves facing similar fundamentals now. Values have shown recent declines but should stabilise in time, creating a soft market that presents attractive opportunities for first homebuyers, upgraders as well as investors to become active again. 
A compelling argument could be made for 2012 being the best year in the past decade to buy residential property. 
Laing+Simmons forecasts interest rates to decline by up to 1% by mid-2012, which should translate to an increase in consumer spending and stabilisation of property values. 
At a broader economic level, higher interest rates in recent times have had the effect of reducing consumer spending as people turned their focus to increasing their savings and reducing their household debt. 
Should a declining rate trend materialise we expect to see consumer spending increase and property values stabilise, particularly for lower priced properties close to the city. 
Property prices, which have been flat or declined over the last four to six months, should again show growth in the medium term as a number of influences converge. 
The long-term low supply scenario in Sydney, driven by a significant period of inactivity stemming from a continued lack of finance for developments, should ensure residential rents keep rising. 
Additionally, with the latest REINSW figures showing rental vacancy in Sydney is just 1.5%, the fundamentals for investors remain strong. 
For developers, the reduced availability of credit could necessitate substantial pre-sales be achieved to secure finance, compounding the contracted supply situation. These constraints should see values resume an upward trend over the medium term as population growth continues unabated and demand further outweighs supply. 
More immediately however, we can expect values to stabilise. There will be pockets where values will rise comparatively quickly, particularly in lower priced new residential developments close to the city, again driven by the lack of supply of properties at lower price points in good locations. 
Declining interest rates, stabilising values, lack of new supply, rising rents and a low vacancy rate are converging to create a most attractive environment for property purchases – a scenario the market has not experienced for 10 years.
Leanne Pilkington is general manager of<a target="_blank" title="Laing + Simmons" href="https://www.laingsimmons.com.au/"> Laing + Simmons</a>
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Next year could be the best year in a decade to buy property

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For years governments have been lining their pockets at the expense of the housing market, and home buyers especially, to create the situation we have today. Affordability is at crisis point and the undersupply of housing cannot possibly meet the market’s needs.
The latest research highlights the absurdity of the taxation burden, particularly stamp duty, that the housing market in this country is faced with.
The<a target="_blank" href="https://www.propertyobserver.com.au/tax/hia-demands-tax-relief-for-new-housing-ahead-of-tax-summit/2011092951734"> CIE’s Taxation of the Housing Sector research report </a>makes numerous alarming findings, including:
<ul>
<li> In absolute terms, housing is the second largest contributor of tax to Australian governments;</li>
<li> New housing accounts for around 1.2% of value added in the economy but contributes 2.8% of government taxation revenues;</li>
<li> Most of the burden or incidence of taxation on housing falls on home buyers;</li>
<li> The most inefficient tax is levied at a state level, namely stamp duty; and</li>
<li> Due to the inefficiency of stamp duties, a mere $500 million cut to this tax would create a $738 million benefit to consumers and up to a $51 million benefit to producers.</li>
</ul>
The research was commissioned by the Housing Industry Association ahead of next week’s federal government tax forum.
Next week’s forum provides a perfect opportunity for reform at the federal level to recognise the disproportionate burden the housing market is being forced to carry and support an industry that is so vital from an economic and social perspective..
Stamp duty is the single greatest hurdle to affordability, and as this latest research identifies, is highly inefficient. This unfair tax is preventing the residential market and the economy as a whole from benefiting from a range of positive impacts and its abolition cannot come soon enough.
Developers occupy a vital position in the market but the sentiment at present is that there is little to be gained by proceeding with new projects. Excessive red tape and associated costs of development is not reflected in the margins achievable and so we are left at a standstill.
The massive housing undersupply and consequential affordability crisis has the market at a tipping point. A multi-pronged approach to reform that seeks to encourage new supply and support affordability is necessary from governments at all levels.
Let us hope the tax forum recognises and responds to this crisis before the great Australian dream fades to become merely a pipedream for many people.
Leanne Pilkington is general manager of<a target="_blank" title="Laing + Simmons" href="https://www.laingsimmons.com.au/"> Laing + Simmons</a>
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Reduce burden of tax on housing before great Australian dream becomes a pipedream

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<a target="_blank" title="When Harry met Steve" href="https://www.propertyobserver.com.au/economy/when-harry-met-steve-a-bears-breakfast/2011091551566?source=flicker3">Visiting US economist Harry Dent</a> is the latest in a long line of doomsayers that predict Australia’s housing market is a bubble on the verge of popping, although the fact that the purpose of his visit is to promote his latest book should not be forgotten.
Regardless, natural population increase and net overseas migration continue to place pressure on the undersupplied housing market, and new housing starts are failing to keep pace.
While it is true that buyers are sitting on the sidelines, already the signs that spring could see an increase in transactional activity are emerging. Clearance rates in the past few weeks are encouraging and the number of listings is increasing, indicating vendors are adopting a more realistic approach and have the confidence to proceed with a sale.
Furthermore, investors remain wary of the share market in these volatile times and are therefore again looking at real estate as offering greater security, buoying demand.
Undoubtedly we have seen a flattening in house prices in recent times, but this is a natural and necessary part of the cycle. The fact remains that the level of supply is incapable of meeting demand at the moment, and until government intervention to remove red tape and provide incentives for developers to commence projects occurs, predictions of a housing bubble are quite simply silly.
The latest Australian Bureau of Statistics figures indicate<a target="_blank" title="Housing starts" href="https://www.propertyobserver.com.au/residential/housing-industry-asks-for-government-intervention-as-housing-starts-slide/2011091551564"> housing starts dropped 7% last financial year</a>. Dwelling starts fell 4.7% in the June 2011 quarter and, according to the Housing Industry Association, the 151,000 homes being started annually is substantially short of demand, which currently stands at about 175,000.
Concurrently, in 2010 Australia’s population grew by 1.5%, with every state and territory experiencing positive population growth, according to the ABS.
When you consider the rate of population growth in Australia, the increasing shortfall in housing supply will continue to insulate prices. It is not a bubble the residential property market needs to be worried about, but rather the lack of new supply and the barriers surrounding affordability.
Still the message is not getting through to some with vested interests elsewhere. An example is Dent’s theory that baby boomers are preparing for retirement en masse, and as such are curbing their spending habits having already purchased their homes, which could lead to an “economic tsunami” across global markets.
The retirement of the baby boomers could in fact have a positive impact on the market, particularly those markets with stock suitable for downsizers and sea-changers.
There is the potential for increased demand for smaller dwellings in newer communities, which could in turn increase availability of larger homes in established suburbs for families looking to upgrade.
The baby boomer generation’s move toward retirement will of course impact the real estate market, but those spruiking a bubble need only consider the fundamentals to realise the underlying strength of Australia’s housing market.
Leanne Pilkington is general manager of<a target="_blank" title="Laing + Simmons" href="https://www.laingsimmons.com.au/"> Laing + Simmons</a>
For more expert commentary about the spring property market and tips for buying and selling in spring, see our spring e-book <a href="https://register.propertyobserver.com.au/16-spring-selling-secrets/" target="_blank">16 spring selling secrets plus 8 tips for buyers</a>
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Housing bubble predictions simply silly, given growing population

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Developer <a href="https://www.apartments.com.au/developers/drew-group">Drew Group</a> is wasting little time following the completion of Lagoon Main Beach, lodging plans for another high-rise apartment development less than two kilometres away at the northern end of Surfers Paradise.

Drew Group, led by local developer Jon Drew, is pitching for a 32-storey residential tower at 180–184 Ferny Avenue, replacing three low-rise buildings on a prominent 1,055 sqm corner site just 150 metres from the beach.

Drew called on architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA</a>&nbsp;to design the new slender tower, which will have 130 apartments. BDA drew on the inspiration of legendary architect Frank Lloyd Wright's philosophy of organic architecture, which seeks "a superior sense of use and a finer sense of comfort, expressed in organic simplicity."

"The design creates a seamless dialogue between built form, natural elements, and the iconic Surfers Paradise context," BDA wrote in the application recently submitted to the Gold Coast City Council.<img alt="First look: Drew Group eyes next Gold Coast tower after completing Lagoon Main Beach" data-entity-type="file" data-entity-uuid="5dcaa84d-67ba-4e22-b8f1-208ca5056b05" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/surfers%20paradise%20da.png?VersionId=Ah9oBOlL0ofC5eboXSI.dEq9VRfEnFaT" />

BDA also drew inspiration from New York's iconic Flatiron Building, with softened curved corners responding to the geometry of the triangular site. While referencing the 1902 Manhattan landmark, the design reinterprets its distinctive form through a contemporary coastal lens.

Drew is targeting the Gold Coast's "missing middle" market, a segment that has arguably been underserved in recent years. The project is weighted towards owner-occupiers, with 104 two-bedroom apartments complemented by a further 26 one-bedroom residences.

Resident amenity will be centred on the level five podium, featuring a resident lounge, gym, yoga room, steam room, sauna, lap pool with a lagoon area, spa, cold plunge and magnesium plunge.&nbsp;

Additional resident facilities will occupy the rooftop, including work-from-home spaces, a meeting room, resident lounge with a full kitchen, bar and dining area, as well as a dedicated wellness zone with additional plunge pools, steam rooms and saunas.

<img alt="First look: Drew Group eyes next Gold Coast tower after completing Lagoon Main Beach" data-entity-type="file" data-entity-uuid="a1392ad9-620b-41f9-957d-b1fcec13613f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/surfers%20da%20podium.png?VersionId=9kDudIwvCaZFW6F8IyXGP6wQg0B_VS3E" />

The application follows the completion of Drew Group's Lagoon Main Beach, which only has around four apartments left to sell after a successful sales and marketing campaign.

Built by Hutchinson Builders, Lagoon comprises 248 apartments and was popular with local owner-occupiers and interstate buyers.

First look: Drew Group eyes next Gold Coast tower after completing Lagoon Main Beach

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

Leanne Pilkington

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