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Property on Queensland's Sunshine Coast has had strong enquiry levels and good sales volumes, according to Herron Todd White.
Herron Todd White's October Month in Review found the the highest growth in sale volumes and values in the first half of 2015 was in the sub $500,000 housing market which is bleeding into the $600,000 to $700,000 bracket.
"Sub $550,000 housing on the coastal areas continues to be extremely popular with buyers placing a greater emphasis on the underlying land value of the property," the report noted.
"Two examples of the market movement over the two years are from Peregian where one property sold in January 2013 for $466,000 and resold in March 2015 for $515,000 and another was purchased in May 2013 for $482,000 and has recently sold for $560,000. 
 
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mick.cee-iDmgDDAmu8

Sunshine Coast sales volumes stable: Herron Todd White

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The housing market between $300,000 and $400,000 in Warrnambool is hot at the moment, according to Herron Todd White.
Herron Todd White's October Month in Review found three bedroom brick veneer houses in North Warnambool built within the last decade as particularly hot, with interest driven by strong rental returns for investors.
"The drivers behind this market are the strong rental returns investors can expect to achieve and the affordability for young families who want something new without the hassle of building," HTW noted.
"Although there is somewhat of a demand for this type of property we have not seen significant increases in value due to the current supply of land within Warrnambool. This statement is true for the entire Warrnambool residential property market which has seen little increase over the past 24 to 36 months.
"Due to the current availability of residential land and demand for newly constructed dwellings, older constructed dwellings appear to be the property type being hit hardest, with a decrease in value and demand for properties built in the 1980s and mid 1990s. This current trend appears to be sustainable for the foreseeable future."
The local unit market, according to HTW, are in good demand at present with two-bedroom units priced between $225,000 and $275,000, and newly constructed three-bedroom units priced between $325,000 and $375,000.
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Warrnambool housing market heating up: Herron Todd White

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A four-level home in Brisbane’s inner-southeast suburb of Camp Hill is on the market for the first time in 40 years.
<a href="https://www.realestate.com.au/property-house-qld-camp+hill-120887529" target="_blank" style="line-height: 1.3em;">51 Indus Street</a> sits on top of the hill, across the road from the Whites Hill Reserve, and is up for auction onsite November 7 early next month through Stuart McCrea of Place.
He said the builder and his family lived in the house for 40 years but the time has come to sell.
“I think a lot of the local residents who know the property will look forward to the opportunity of looking inside and witnessing the amazing views on offer,” he said.
"We anticipate good interest in the property from potential buyers due to its uniqueness, position and impressive 180-degree views of Brisbane City and Moreton Bay."
 
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Hilltop Brisbane home lists in Camp Hill

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Brisbane home values increased by 1.9% over the September quarter, according to CoreLogic RP Data's October Housing Market Update.
CoreLogic RP Data research director Tim Lawless said Brisbane's home values over the September quarter are 4.6% higher than the same time last year, with capital gains more moderate than those made in Sydney and Melbourne with houses up 4.9% and units 2.1%.
 
Watch the update <a href="https://www.propertyobserver.com.au/https://vimeo.com/141744157" target="_blank">here</a>.
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Brisbane home values increase 1.9% over quarter: CoreLogic RP Data

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Fresh listings across the combined capital cities are down 0.6% when compared to this time last year, according to CoreLogic RP Data's Quarterly Regional Market Rental Review to September.
CoreLogic RP Data found 46,658 properties were added to the listings pool over the past twenty eight days.
The review said total stock levels in Sydney, Perth and Darwin are higher than they were a year ago and total listings in Sydney are at their highest level since late last year and rising. 
"Melbourne is the only other city to have recorded an increase, up 1.3%," it noted.
"The weaker housing markets of Perth (- 18.8%), and Darwin (-16.3%) have seen a sharp decline in new listings. Total stock levels are now roughly similar to levels a year ago, -0.9% lower nationally and marginally higher (+0.5%) across the combined capital cities. "
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Fresh listings across combined capital cities down 0.6%: CoreLogic RP Data

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The highest rental growth regions for units in the September quarter were in NSW's mid-north coast, the Victorian suburb of Wimmera, Queensland's south west, outer Adelaide in South Australia and the Tasmanian suburb of Mersey-Lyell, according to CoreLogic RP Data.
CoreLogic RP Data's Quarterly Regional Market Rental Review to September found unit rents on NSW's mid-north coast increased by 3.2% over the quarter to $320/week and rents in Victoria's Wimmera increased by 2.5% over the quarter to $205/week.
South west Queensland rents increased by 11.8% over the quarter to $308/week, outer Adelaide rents increased by 4.0% over the quarter to $260/week and rents in WA's central increased by 5.6% over the quarter to $265/week.
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The Tasmanian suburb of Mersey-Lyell rents increased by 4.5% over the quarter to $230/w.
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NSW units lead national regional rental growth: CoreLogic RP Data

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Regional rental performance on the whole is weak, according to CoreLogic RP Data, however there were some positive signs. 
CoreLogic RP Data's Quarterly Regional Market Rental Review to September found the strongest performance by far was across regional Tasmania, where rents rose by 2% for houses.
The greatest fall in rental rates in comparison to last year was in the Northern Territory, with a decrease in house rents of 6.0%.
Over the September quarter rents for detached housing had no increase over the quarter, with rent falling in Western Australia (-2.6%), Northern Territory (-2.1%) and Victoria (-1.7%).  
Highest rental growth region for houses was in northern New South Wales, with an increase of 3.3% over the quarter to $310/week.
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Regional house rental performance weak: CoreLogic RP Data 

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The top sale of the week was a freestanding five bedroom home in Chatswood on an 815 sqm block, according to CoreLogic RP Data.
The double brick home, <a href="https://www.realestate.com.au/property-house-nsw-chatswood-120697633" target="_blank">6 Chatswood Avenue, Chatswood</a>, was built in 1998 and sold for $6,055,000 through Kerrie Robertson and Michael OBrien of LJ Hooker Lane Cove.
The second highest sale was also in Chatswood.
 
6 Chatswood Ave, Chatswood, NSW, 2067<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/6-chatswood-avenue-chatswood-nsw-2067/1825007">,</a> five-bedroom house, sold at auction on October 10 by L J Hooker Lane Cove for $6.055 million
33 Olga St, Chatswood, NSW, 2067<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/33-olga-street-chatswood-nsw-2067/1830003">,</a> five-bedroom house, sold at auction on October 10 by Shead Property Chatswood for $5.22 million
14 Bower St, Manly, NSW, 2095<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/14-bower-street-manly-nsw-2095/3972455">,</a> six-bedroom house, sold at auction on October 10 by Clarke &amp; Humel Property Manly for $4.62 million
7 Cameron Ave, Manly, NSW, 2095<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/7-cameron-avenue-manly-nsw-2095/17325029">,</a> four-bedroom house, sold at auction on October 10 by Clarke &amp; Humel Property Manly for $3.805 million
1106 Pittwater Rd, Collaroy, NSW, 2097, four-bedroom house, sold at auction on October 10 by Belle Property Mona Vale for $3.73 million
4 Crossakiel Ct, Hawthorn, VIC, 3122<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/4-crossakiel-court-hawthorn-vic-3122/11188399">,</a> four-bedroom house, sold at auction on October 10 by Jellis Craig Hawthorn for $3.56 million 
51 Raglan St, Mosman, NSW, 2088<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/51-raglan-street-mosman-nsw-2088/4501142">,</a> three-bedroom house, sold at auction on October 10 by 2088 Realty Mosman for $3.4 million
22 Bayswater Rd, Lindfield, NSW, 2070<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/22-bayswater-road-lindfield-nsw-2070/3767480">,</a> five-bedroom house, sold at auction on October 10 by Mcconnell Bourn Estate Agents Lindfield for $3.23 million 
371 Belmore Rd, Balwyn North, VIC, 3104<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/371-belmore-road-balwyn-north-vic-3104/9579363">,</a> five-bedroom house, sold at auction on October 10 by Noel Jones Real Estate Balwyn for $3.2 million
18B Alice St, Turramurra, NSW, 2074<a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/18b-alice-street-turramurra-nsw-2074/6997909">,</a> five-bedroom house, sold prior to auction on October 10 by Chadwick Real Estate Turramurra for $3.2 million
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Two Chatswood trophy homes lead CoreLogic RP Data top ten list

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Residential property in the Illawarra district across all housing sectors is running hot at the moment, according to Herron Todd White.
Herron Todd White's October Month in Review stated strong capital growth has been sustained for the past 24 months through all residential suburbs and sales of new release land in Horsley, Flinders and Shell Cove remain strong. 
"First home buyers and investors seeking out value are driving demand for product in the more affordable suburbs such as Cringila, Warrawong and Barrack Heights, with agents reporting very short sale periods," HTW said.
"Suburbs closer to the Wollongong CBD and associated infrastructure such as Figtree, Keiraville, Balgownie and Fairy Meadow are now mostly outside the price point of first home buyers and stock under $500,000 is hard to find. 
"New infill housing in these suburbs is quickly snapped up by local owner occupiers looking to downsize as well as local and Sydney based investors chasing strong rental returns."
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A quick guide to what’s hot (in our opinion): 
• Top end northern beaches
• Wollongong Ring (Fairy Meadow, Balgownie, West Wollongong)
• Lower end (Cringila, Warrawong, Barrack Heights) 
• Land in new estates (Horsley, Flinders, Shell Cove) 
• Unit blocks in one line
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Residential property ripe across Illawarra district: Herron Todd White

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A number of high profile commercial sites on Melbourne's CBD fringe are up for sale.
Hume Partners has appointed CBRE Melbourne City Sales to sell what is known as the Spencer Portfolio - four individual freehold properties with a combined land area of 7,896sqm, with expansive views to the CBD and Docklands.
The commercial properties, 83–113 Batman Street, 371 Spencer Street, 355 Spencer Street and 102 Jeffcott Street, comprise substantial commercial buildings and benefit from existing income in their current form, as well as significant redevelopment potential to accommodate a landmark high rise project.
CBRE’s Mark Wizel, who is selling the entire site together with Josh Rutman, Kiran Pillai, Julian White and Lewis Tong, said the property had significant potential to redefine West Melbourne’s residential market.
“This site – one of the largest to be offered this year – will transform the landscape at the Melbourne CBD’s western frontier, with the development of a premier residential development repositioning it as one of the city’s most sought after postcodes,” he said.
“The diversity of the offering will attract strong interest from a diverse pool of buyers, with its current income offering a secure investment, whilst also holding scope for a number of development opportunities.”
He said a number of larger state owned enterprises from mainland China were currently in the market with mandates for larger Melbourne sites that provide scale and the ability to stage a project over time.
“This includes groups like Wanda, R&amp;F, Poly and Greenland, who have all made public their desire to acquire strategically located sites in and around the Melbourne CBD," he said.
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Melbourne's Spencer Porfolio on the market

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

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	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
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	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
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	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
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</ul>

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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.

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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.

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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]

Michael Crawford

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