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There has been a great deal of movement in fixed rates over the last three months, and for some borrowers fixing has become the "new black".  It’s easy to understand why borrowers are being tempted, particularly with some three year rates sitting well below the 5.5% mark.
Generally speaking most borrowers are motivated to fix their loan balance for one of two reasons.  To create repayment certainty and stability, or, to beat the market at a rate that will be consistently lower that their standard variable for a fixed period.
And when fixing a rate, there is no denying that timing is everything.
Those looking to beat the market often wait until they can establish that fixed rates have reached their lowest point in the current cycle – but because rates can change very quickly, they often miss out.
Over time the fixed versus variable conundrum has continued to present a challenge to borrowers curious about whether fixing will deliver a cheaper result over time, and this is most prevalent when interest rates are in a downward cycle.
The majority of borrowers, however, are generally content to remain with their standard variable arrangement, thereby retaining all the flexibility and features a fully optioned loan delivers.
Even though the average standard variable rate of the big four banks is around 6.62%, most existing standard variable rate borrowers are sitting around 20 basis points either side of the 6% mark.  And with variable rates tipped to fall further, the temptation to lock in is growing.
This is where the split loan option of part fixed, part variable becomes the popular alternative, offering the flexibility of a variable loan with the payment certainty of the fixed arrangement.
This option is fast becoming the borrower preference over 100% fixed, with most lenders offering attractive fixed/variable combinations aimed at borrowers wanting the best of both worlds.
Over time, however, traditional fixed loan arrangements have become more flexible in their own right – with additional repayments allowed for most products.  But that being said, borrowers often overlook the additional criteria that applies to breaking fixed loans during the term.
It is therefore incredibly important that borrowers read all of the terms and conditions associated with the fixed loan arrangement. Because if, for example, there is any chance that the borrower may need to sell the property or break the loan while during term, he or she might be better off to remain on a variable arrangement, as those costs can be prohibitive.
In terms of what we see happening at the moment, the most popular fixed rate period still remains the three-year option. However shorter terms are also becoming a popular choice, given rates are on a downward trend.
Only during the last week, we have seen one-, three- and five-year rates stabilise with a slight increase in some bands, so I don't believe we can assume that fixed rates have bottomed out just yet –  this will only come as they stabilise.
My suggestion therefore is that if borrowers are looking for a better deal – whether it be fixed or a split arrangement – they may want to approach their lenders first to minimise their costs of refinancing, or do their research and find the right combination for them.
But remember, a good and efficient loan arrangement is not simply just based on having a low rate.  Features, flexibility, fees and the right guidance are just as important.  You want your rate to be competitive – but above all, you want your loan to work for you.
Lisa Montgomery is CEO of <a target="_blank" href="https://www.resi.com.au/">Resi Mortgage Corporation</a>
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lmontgomery-WVTjxSibz6

Timing is everything when it comes to fixing your mortgage

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When it comes to demonstrating genuine deposit savings as part of the home loan application process, some borrowers see it as an inconvenience.  Lenders, however, have a different view.
Proof of a savings pattern will not only illustrate to the lender the borrower’s ability to consistently set aside funds for a specific purpose, it demonstrates the borrower's preparedness for what will most  likely be a large monthly commitment.  This preparation is most important for first-time buyers who are unlikely to have been exposed to high ongoing monthly repayments.
Most lenders these days will require a home buyer, particularly a first-home buyer, to demonstrate genuine savings when obtaining a mortgage; this is usually applicable if they are borrowing more than 85% of the value of the property being purchased. This is traditionally demonstrated by providing at least three months of bank account statements in the applicants name showing they have accumulated the cash equity required to complete the purchase.
Lenders will scrutinise these statements to ensure that the borrower has demonstrated some kind of savings pattern and pay particular attention to lump sum deposits, to ensure that these are not gifted or borrowed funds.
It is quite common for parents to assist their children in purchasing their first home. If this is the case and the parent’s contribution is an unconditional gift to their child and not a repayable loan, a statutory declaration can be completed and used as support documentation for the loan.  It is important to note, however, that the lender may still require the applicants to demonstrate a minimum of 5% of their own genuine savings to contribute toward the transaction.
Less common is the instance where a parent or guardian may loan the applicant a sum of money to assist in the purchase of the property. In this case, the lender may still require the applicant to contribute a minimum of 5% of their own genuine savings to the purchase, but other criteria may also apply.  The lender may ask for a statutory declaration from the person making the loan outlining the terms of the loan inclusive of the regular repayment amount.  During the assessment process the lender will ensure that the borrower can afford to meet their future home loan commitments as well as all other commitments (including repayment to the parent or guardian), without incurring hardship.
It’s essential for first-time buyers to seek guidance in relation to lending criteria early in the home buying journey.  This will ensure there are no surprises or impediments when you are ready to buy.  Meeting all the requirements of the lender will ensure a smooth pathway to home ownership.
Lisa Montgomery is CEO of <a href="https://www.resi.com.au/" target="_blank">Resi Mortgage Corporation.</a>
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What first-time buyers require to secure a mortgage

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Mystery flights and mystery hotel deals are popular. Why? Because for many people, not only does the price appeal, but there’s also a certain mystique attached to not being aware of where you are going.
But these "mystery" deals are only defined moments in time, so if we come away thinking we could have done better, or would have preferred a different experience, we can easily put it behind us and move on.
However, when you’re making the biggest financial decision of your life, do you really want any ‘mystery’ associated with it, particularly when it’s such a long-term and significant arrangement? After all, this is your financial security you’re dealing with here.
In my long career in the financial services industry I have always been a huge advocate of research. And when you are looking for a home loan or any other financial product, the best research is the research you do yourself.
There are some great financial services comparison websites out there where you can start that research and compare what’s available.
And in the course of that research, you will undoubtedly come across a variety of marketing offers you can take into consideration, along with your research.
One offer that recently stood out <a href="/news">was a "mystery" home loan deal</a>, which offered a significant reduction in the annual percentage rate of the big four banks, but did not mention the lender.
So what impact does this have on a borrower when they see such an offer, but don’t have all of the details?
Clearly they would find it attractive, but further research would show there are equally competitive rates aplenty in the mortgage marketplace.
There is no doubt that a low interest rate is the major priority for all borrowers choosing a home loan, but making that decision based simply on the interest rate is a common mistake, as there is much more to a mortgage product than rate alone.
And that’s because no two borrowers are the same.
We all have different needs and requirements for how we want our mortgage to perform for us. So when you’re looking for a loan, it has to be a personal decision not based on one thing, but on a range of aspects relating to how you manage your wealth through your different life stages.
Therefore, a borrower needs to also look at the fees, features, flexibility, structure and service attached to the loan - and once they do, there are many more questions to ask.
For example, are there low or no fees attached to the home loan?  What are the specific features and are they the most appropriate ones for my circumstances? And is the structure going to be flexible enough for what I may need now and into the next stage of my life?
However, above all else, not knowing the service proposition attached to a mortgage is a bit like marrying someone you’ve never met.
You need to take the time to choose wisely here, because the relationship with your lending professional can be one of the most significant in your life, particularly in regards to setting up an efficient and effective financial platform.
And yet, is it still often something people undervalue in favour of obtaining the lowest interest rate possible.
In fact, the expertise and guidance of this person can open up doors to wealth creation and deliver information that can save you money on interest, reduce your loan term and strengthen your overall financial position.
You should closely consider your lending professional as your first point of contact when enquiring about a mortgage, as this relationship is as important as the interest rate.
With many of us having complicated financial structures, it’s invaluable having the right lending professional there to advise you, educate you and above all empower you to become a better financial manager – and there’s certainly no one-size-fits-all solution.
Like choosing any partner, you need to know you can rely on someone to be there for you to take those next steps and never more than when your finances are involved.
In such a dynamic lending environment, there is much for borrowers to consider and explore – and there should be no mystery when it comes to choosing your mortgage.
Lisa Montgomery is CEO of <a href="https://www.resi.com.au/" target="_blank">Resi Mortgage Corporation.</a>
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There should be no mystery when choosing a mortgage: Lisa Montgomery

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Australians love a home project and are spending more on renovations each year, so as the trend continues towards renovating – rather than upgrading, to adapt to the softer property market, borrowers really need to maximise any money they outlay to ensure those funds are put to good use.
Borrowers need to be savvy about exactly how they spend their money on renovating, so there is a genuine financial advantage to their decision to retain and improve their existing property, rather than move on.
There's no point deciding to go ahead with a renovation unless you have weighed up all the benefits of renovating over upgrading.
Your analysis should include determining whether you really are comfortable and ready to give up not just the property, but all the other reasons you live there – including familiar infrastructure such as local schools and transport links, not to mention friends and neighbours.
That's the more emotional side of the equation. But then you also need to be realistic and crunch numbers on all the possible outcomes of buying and selling in the current market.
In the end, if you do finally decide that renovating is the better option for you, you need to be careful about how you spend your money by developing a blueprint to follow, based on finely costed, definitive plans.
One of the main issues that will determine how you spend your budget will be the primary reason you are renovating – i.e. is it to on-sell; improve rental yields; or improve your lifestyle?
There is generally less emotional attachment to renovating an investment property than one you will have to live in, but ensuring you have improved the property in both functionality and value – without over-capitalising on your spend – should always be the prime objective.
Then it will come down to whether the renovations are mainly cosmetic or structural.
If the renovations are largely cosmetic, there is a lot less to consider. It's when you get into the structural type that you really have to do your homework by ensuring that any additions are in character with surrounding dwellings and that it will add to the resale value, among other things.
For larger projects, despite the reasons for renovating, the planning should still come down to considering 12 key points:
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START WITH A LIST: Make a list of everything you want to do, not just in one room, but around the rest of your home too, then prioritise that list. This will allow you to decide whether you can stage the renovation, or whether you're better off to do it all in one block of work. Once this is done, you can seek more detailed advice from architects, draftspeople and builders. </li>
<li>
SET THE BUDGET: Work out how much you actually have to spend and ensure if you are borrowing the funds to do this they are firstly approved and that you're comfortable with the additional financial responsibility you will be taking on. Also, if you are significantly changing a layout or adding floor space, ensure your plans comply with any council regulations and allow sufficient time and money for any plans to be drawn up, submitted and approved. </li>
<li>
OBTAIN COMPETITIVE QUOTES: Obtain at least three quotes from reputable builders and tradesmen and ensure the quotes compare like for like. And then, even when the quotes are accepted and contracts are finalised, ensure you have a contingency budget. Speaking to others who have project managed renovations beforehand will be a wise investment of your time. </li>
<li>
THE DIY FACTOR: Despite the popularity of home renovation programs, very few have the skill and experience to do everything themselves. Sure, you can save some money by putting your own sweat into it, but ensure any specialist jobs are carried out by licensed tradespeople. </li>
<li>
INSURANCE: Ask about insurance for each tradesperson as anyone working on your property needs it. Otherwise the liability may rest with you. </li>
<li>
KEY AREAS OF THE HOUSE: Any buyer routinely pays close attention to the state of bathrooms and kitchens, mainly because they're high-traffic areas. As a result, these rooms can justifiably take up a significant portion of your budget, as long as you don't go overboard with costly appliances that won't be appreciated within the context of the rest of the property. </li>
<li>
POOLS: Swimming pools may seem like a luxury but won't always increase the resale value of your home, particularly if it overcrowds the rest of your outdoor area. Balance out your own need for a pool, rather than just installing one because you think it's a property must-have. </li>
<li>
GARAGES: A garage can add considerably to a home's value, as can any off-street parking facility, particularly in high-density, metropolitan areas. So whether you're renovating an investment property or your own property, the addition of a car space is usually a wise one. </li>
<li>
ADDING BEDROOMS: This will also generally add to a property's value, particularly if the property is in a family-friendly area. However, there's no point creating a bedroom for the sake of it, if it's so small it's more likely to be used as a utility room. Buyers can readily see through this. </li>
<li>
PAINTING can make or break a renovation. Good paintwork can instantly lift the overall quality of a house as can the level of preparation that goes into the job. Don't underestimate the power of the paint – it can transform even the drabbest of homes. </li>
<li>
COLOURS AND FINISHES: Keep your overall look co-ordinated and simple in taste, particularly if you're looking to sell in the near future. A consistent, muted style that flows from room to room is safer than something that's too niche and stands out for all the wrong reasons. </li>
<li>
LANDSCAPING: The indoor/outdoor room is now a popular part of the Australian lifestyle, so allow for a percentage of your overall budget to be spent on landscaping so you can complement the work you've carried out inside the house. Even if your budget is modest, basic greenery and clean, functional outside areas will only improve a property's appeal.</li>
</ol>
Lisa Montgomery is the CEO of the non-bank lender <a target="_blank" href="https://www.resi.com.au/">Resi Mortgage Corporation</a>
 
 
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Twelve key points to consider before you start home renovations

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The current market turmoil comes at a time when consumers are already exhibiting a great deal of restraint.
Since the last interest rate rise in November, we have seen a lot of information from the RBA and the media suggesting to consumers that there is another rate increase or two during that year
That, combined with the high cost of living, rising fuel prices and energy costs and the carbon tax, has an effect on consumers that has not been seen before.
The RBA has not really done anything. It has just talked about interest rates having to rise. This has had the desired effect on borrowing and spending behaviour. People are now very conservative.
In fact, I don’t know of another time since Australians have been so responsive to this market noise.
Ten years ago and beyond people did not even know when the RBA monetary committee sat. But people are so highly leveraged these days.
Before the last rate decision in August, someone asked me if a rate cut would make a difference in consumer behaviour. I said no, not in the medium or short term.
Consumers are not looking for a rate reduction but some market stability.
A reduction will help but what is really needed is a period of stability. This will mean people can go back to upgrading their existing properties and buying investment properties.
We are undergoing a cyclical change, but the property market is not homogenous. This is a mistake a lot of property commentators make. You can’t discuss the market holistically.
Some areas have had a slight correction, but other areas will prosper such as regional areas, those that are undergoing gentrification, those where local government are engaged, and those where there is a diversity of industries.
These are areas where a really savvy property investor can prosper.
I was at an investment and property expo in Sydney recently and have never seen a room of people so engaged and interested in building their property portfolios.
People are talking and listening, and willing to take control. Just look at self-managed super funds. People want to take control of their future – they are not willing to put it into other people’s hands.
Lisa Montgomery is CEO of <a title="Resi" href="https://www.resi.com.au/" target="_blank">Resi Mortgage Corporation</a> and a regular media commentator.
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Property buyers are savvier than ever, and they want stability

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.

&nbsp;

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>.

Joel Robinson

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

IN BRIEF

<ul>
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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.
	</li>
</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" />

&nbsp;

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>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

Lisa Montgomery

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