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GUEST OBSERVER
Australian housing finance were materially weaker than expected in July with much of the detail also on the weak side, investor loans about the only exception.
The total number of owner occupier loans fell 4.2 percent, well below the consensus forecast for a 1.5 percent decline. 
Ex refinance the picture was even weaker with a 6.1 percent fall, the largest monthly decline since May last year.
Approvals can be choppy month to month but moves tend to be in the ±3 percent range.
Our estimates (using ABS seasonal factors) suggest seasonally adjusted owner occupier approvals ex refi were down 3-4% in NSW, Vic and Qld with, somewhat surprisingly, WA the only state to record a rise (+2.7%mth).
Note that the sum of these estimates across the big five states is firmer than the published national number (down about 2% rather than 6%).
Details 
Owner–occupiers (no.)              –4.2%mth, 1.8%yr
– ex-financing (no.)                  –6.1%mth, –2.7%yr      
Construction of dwellings (no.)  –4.9%mth, –3.9%yr
Purchase of newly built dwellings (no.)  –3.3%mth, 8.4%yr        
Value of loans:
Owner-occupiers ($bn)        –3.1%mth, 2.3%yr
Investors ($bn)                    0.5%mth, –9.3%yr
Total ($bn)                         –1.8%mth, –2.4%yr
Total ex refi ($bn)                –2.2%mth, –5.4%yr
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July Australian housing finance figures weaker than expected: Westpac's Matthew Hassan

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AMP chief executive officer Craig Meller and City of Gold Coast Mayor Tom Tate opened AMP Capital's Pacific Fair shopping centre on the Gold Coast following a $670 million redevelopment.
Construction began January 2014 with 50,000 square metres (sqm) added to the existing centre. At 155,000 sqm Pacific Fair the fourth largest shopping centre in Australia with around 420 stores.
The last stores are slated to open September 2016.
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AMP Capital opens $670m Pacific Fair on Gold Coast

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Sydney home values have increased by 5.6 percent over the past three months and are 9.1 percent higher over the past year according to CoreLogic.
CoreLogic's Housing and Economic Chart Pack for August said the annual rate of value growth has slowed from a peak of 18.4 percent in July 2015 
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Sydney home values increase 5.6 percent over the past three months: CoreLogic

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GUEST OBSERVER
The June housing finance report was a mixed bag with the headline number of owner occupier approvals undershooting expectations slightly but most of the detail more positive.
The number of approvals owner occupiers rose 1.2 percent in June, below expectations of a 2.3 percent gain. However ex refi, ‘new’ approvals were more in line with a 2.1 percent gain.
The value of housing finance approvals to investors was up 3.2 percent mth – although there was not a consensus forecast on this component it was probably a touch better than expected.
Both segments appear to have responded positively to May’s interest rate cut although broader market measures such as auction clearance rates point to a firming in demand rather than a sharp pick up.
The detail also showed solid gains 2 percent+ for construction-related finance approvals. Details  Owner–occupiers (no.)   1.2%mth, 6.7%yr           – ex-financing (no.)        2.1%mth, 3.8%yr               
Construction of dwellings (no.)               2.1%mth, 1.1%yr      Purchase of newly built dwellings (no.)   2.7%mth, 19.6%yr                       
Value of loans:             
Owner-occupiers ($bn)   1.8%mth, 9.4%yr    Investors ($bn)              3.2%mth, –13.1%yr       Total ($bn)                    2.3%mth, 0%yr  Total ex refi ($bn)          2.8%mth, -3.4%yr      
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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June Australia housing finance approvals: Westpac's Matthew Hassan

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Sydney holds a preliminary auction clearance rate of 76.2 percent for the week ending July 17 according to CoreLogic.  
The Inner West recorded a preliminary clearance rate of 91.4 percent across 35 reported auctions. 
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Sydney's Inner West takes 94 percent clearance rate: CoreLogic

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New figures from the REIV show the median Melbourne house price increased 3.6 percent to a high of $725,000 in the three months to June 30 - the largest price growth since September 2015.
Double-digit growth was recorded in Camberwell, Prahran and Richmond. Torah, Wyndham Vale and Roxburgh Park also recorded increases with growth experienced in more affordable suburbs such as Hillside, St Albans, Sunshine West and Sunbury.  
Geoff White, chief executive officer of the REIV, said recent national data from the Real Estate Institute of Australia shows that most states, apart from Melbourne and Adelaide, have experienced moderating home prices in the opening months of 2016. 
“Just over a year ago we were seeing quarterly price growth just above five percent,” he said.
“While growth is now below four percent, it is still solid, given market conditions. There have been fewer property listings this quarter, down by around 300 weekly across Melbourne in comparison to last year.
“While fewer sellers are putting their homes on the market, prices are still extremely solid.
“The message to vendors is that the market is still bubbling along nicely – and that, given the sales results and prices, those looking to list their homes should do so prior to spring. ’Now’ is a great time to sell."
MELBOURNE MEDIAN HOUSE PRICES – JUNE QUARTER
 
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<td colspan="2" width="149">
Top Growth Suburb
</td>
<td width="82">
Jun-16 Median
</td>
<td colspan="2" width="83">
Mar-16 Median
</td>
<td colspan="2" width="64">
Quarterly Change
</td>
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<tr>
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1
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    BRIGHTON
</td>
<td nowrap width="82">
$2,715,000
</td>
<td colspan="2" nowrap width="83">
$2,030,000
</td>
<td colspan="2" nowrap width="64">
33.7%
</td>
</tr>
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<td valign="bottom" nowrap width="26">
2
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    MOONEE PONDS
</td>
<td nowrap width="82">
$1,265,000
</td>
<td colspan="2" nowrap width="83">
$1,035,000
</td>
<td colspan="2" nowrap width="64">
22.2%
</td>
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3
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    HILLSIDE
</td>
<td nowrap width="82">
$600,000
</td>
<td colspan="2" nowrap width="83">
$505,000
</td>
<td colspan="2" nowrap width="64">
18.8%
</td>
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4
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    NORTHCOTE
</td>
<td nowrap width="82">
$1,170,000
</td>
<td colspan="2" nowrap width="83">
$990,000
</td>
<td colspan="2" nowrap width="64">
18.2%
</td>
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5
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    TOORAK
</td>
<td nowrap width="82">
$4,500,000
</td>
<td colspan="2" nowrap width="83">
$3,900,000
</td>
<td colspan="2" nowrap width="64">
15.4%
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6
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<td colspan="2" valign="bottom" nowrap width="149">
    ST ALBANS
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$529,250
</td>
<td colspan="2" nowrap width="83">
$462,000
</td>
<td colspan="2" nowrap width="64">
14.6%
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7
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    WILLIAMSTOWN
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$1,155,000
</td>
<td colspan="2" nowrap width="83">
$1,010,500
</td>
<td colspan="2" nowrap width="64">
14.3%
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8
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    RICHMOND
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<td nowrap width="82">
$1,222,500
</td>
<td colspan="2" nowrap width="83">
$1,072,000
</td>
<td colspan="2" nowrap width="64">
14.0%
</td>
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9
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    CAMBERWELL
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$2,146,250
</td>
<td colspan="2" nowrap width="83">
$1,890,000
</td>
<td colspan="2" nowrap width="64">
13.6%
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10
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<td colspan="2" valign="bottom" nowrap width="149">
    PRAHRAN
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$1,370,000
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<td colspan="2" nowrap width="83">
$1,210,500
</td>
<td colspan="2" nowrap width="64">
13.2%
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11
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    SUNSHINE WEST
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$520,000
</td>
<td colspan="2" nowrap width="83">
$462,500
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<td colspan="2" nowrap width="64">
12.4%
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    SUNBURY
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$412,500
</td>
<td colspan="2" nowrap width="83">
$371,250
</td>
<td colspan="2" nowrap width="64">
11.1%
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    AVONDALE HEIGHTS
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$792,500
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<td colspan="2" nowrap width="83">
$720,000
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<td colspan="2" nowrap width="64">
10.1%
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14
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    ROXBURGH PARK
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$425,000
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<td colspan="2" nowrap width="83">
$387,500
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<td colspan="2" nowrap width="64">
9.7%
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15
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<td colspan="2" valign="bottom" nowrap width="149">
    SURREY HILLS
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$1,835,000
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<td colspan="2" nowrap width="83">
$1,676,000
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<td colspan="2" nowrap width="64">
9.5%
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    WYNDHAM VALE
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<td nowrap width="82">
$385,000
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<td colspan="2" nowrap width="83">
$352,500
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<td colspan="2" nowrap width="64">
9.2%
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17
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    SOUTH MORANG
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<td nowrap width="82">
$503,000
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<td colspan="2" nowrap width="83">
$461,000
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<td colspan="2" nowrap width="64">
9.1%
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    COBURG
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$870,000
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<td colspan="2" nowrap width="83">
$800,000
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<td colspan="2" nowrap width="64">
8.7%
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<td colspan="2" valign="bottom" nowrap width="149">
   CRANBOURNE NORTH
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<td nowrap width="82">
$455,000
</td>
<td colspan="2" nowrap width="83">
$420,130
</td>
<td colspan="2" nowrap width="64">
8.3%
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    GREENVALE
</td>
<td nowrap width="82">
$650,000
</td>
<td colspan="2" nowrap width="83">
$600,000
</td>
<td colspan="2" nowrap width="64">
8.3%
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<td colspan="3" valign="bottom" nowrap width="172">
 
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<td colspan="2" nowrap width="109">
 
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<td width="18">
 
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Melbourne property market reaches $725,000 median price: REIV

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Building approvals in Tasmania are on a downward trend and lower than at same time last year according to Herron Todd White.
Herron todd White's latest market report for Tasmania who attributes market cooling to the decrease of the First Home Builders Boost (FHBB) grants, reduced from $20,000 on 31 December 2015 to $10,000 on 1 January 2016 for first home buyers or builders of new residential dwellings.
HTW said some land developers anticipated this cooling towards the end of 2015 and were attempting to bring forward demand with advertised incentives such as new cars and gift vouchers.
"Incentives were also extended to the building industry and are still being offered," the report said.
The residential property market continues to experience small annual increases in sales volumes across the state and in some areas, stock shortages have seen some capital growth in the major population centres.
"Statewide centrally located suburbs that contain a good range of facilities, larger infrastructure such as shopping centres, educational and health institutions and public transport tend to be popular with renters and purchasers alike and are viewed as having the best capital growth potential. 
"Kingston, Howrah, Blackmans Bay, Glenorchy, New Norfolk and Sandy Bay are suburbs where the greatest sales volumes have occurred recently in the south, while in the north the suburbs of Riverside, Newstead and Newnham have experienced the greatest recent volumes of sales. In the north-west region, Devonport has seen the greatest number of sales."
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Tasmanian home building approvals on a downward trend: Herron Todd White

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Developers Meriton are building a stormwater diversion project in Sydney's northern beaches suburb of Dee Why ahead of their development of the 18 level 356 apartment complex named the Lighthouse to be built on the corner of Pittwater Road and Howard Avenue.
Lighthouse will be built on the site purchased from Canadian group Brookfield for $52 million in 2013.
The development will eventually become a four-tower project with an upmarket retail centre, childcare facilities and commercial suites on the 1.44ha site.
The civil project, approved after extensive flood modelling of the development site, will divert existing stormwater system to alleviate previous flooding issues .
Meriton head Harry Triguboff said the aim was to provide Dee Why with a pulsating community heart.
“We intend to make this new town centre a vibrant destination for Dee Why’s residents – it will give the whole suburb a lift.”
The complex will contain 356 one, two and three-bedroom apartments, along with a number of resident facilities.
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Meriton starts stormwater redevelopment in Sydney's flood-prone Dee Why 

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New South Wales based Sammut Developments has won the HIA-CSR Australian Home of the Year award for ‘Nautilus’, a seven bedroom, six-storey waterfront home.
The home also won the Australian Custom Built Home award, partnered by Stramit Building Products.
Judges were impressed with the level of detail and high-quality finishes.
Other award winners from across Australia in eight regions include:
Mirvac from Victoria won Australian Apartment of the Year, partnered by Caltex HIA fuel card. 
Sunland Group from Queensland won Australian Apartment Complex, partnered by Toyota Fleet. 
Atkinson Pontifex from Victoria won both the Australian Townhouse/Villa of the Year, partnered by newhomesguide.com.au and Australian Outdoor Project partnered by James Hardie Australia. 
Ryan Designer Homes from Queensland won Australian Townhouse/Villa Development, partnered by Rheem Australia. 
Peter Sosso Building from the Hunter won Australian Specialised Housing, partnered by HIA Insurance Services. 
Art Nouveau Homes from Victoria won Australian Spec Home, partnered by Stratco Australia. 
Samuel James Homes from South Australia won Australian Display Home, partnered by ActronAir. 
Alvaro Bros Builders from ACT/Southern NSW won Australian Renovation/Addition Project, partnered by BlueScope Steel. 
Kalka from Queensland won Australian Project Home, partnered by OneSteel Reinforcing. 
Minosa from NSW won both the Australian Bathroom Design, partnered by GWA Bathrooms &amp; Kitchens and the Australian Kitchen Design, partnered by Miele. 
Drew Moore Constructions from Tasmania won Australian Bathroom of the Year, partnered by GWA Bathrooms &amp; Kitchens. 
Stewart Homes and Ultraspace from Queensland won Australian Kitchen of the Year, partnered by Miele.
Jake Laidlaw from Victoria won the Jim Brookes Australian Apprentice, partnered by Stratco Australia. 
Dale Alcock Homes from Western Australia won Australian Professional Major, partnered by Companion Systems. 
 
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NSW builder Sammut Developments wins Australian Home of the Year

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Illawarra's heritage housing market is anything but basic with Californian bungalows and miner cottages dotted throughout the region accordding to analyst firm Herron Todd White.
Herron Todd White's recent heritage market review found around the Illawarra district, Shellharbour, Kiama and Shoalhaven regions, have considerably more heritage housing precincts with prices varying due to their appeal and location.
According to HTW as they are generally located within close proximity of the CBD area or coastal regions, the values tend to be higher than outer areas, underpinned by a higher land content and value but don't appeal to all.
"There are costs and problems associated with restoration and upkeep and many buyers are seeking modern fixtures and fittings rather than heritage style. If a full restoration is to be undertaken the cost to complete such work to comply with local council regulations and rules will be higher than that required for non listed buildings. Therefore cost will not always equate to value added and unless located in a highly sought after inner area where capital values are rising, return on investment is not assured," HTW said.
"Attributes which make these types of dwellings desirable generally include proximity to good infrastructure and a liquid market. In villages such as Berry or Jamberoo there is also a pattern established where there are a group or precinct of such dwellings of the same ere which are all renovated or restored to much the same standard and they become the norm for period dwellings.
"The Southern Highlands residential property market has been increasing in both volume and price activity since late 2014. We saw a noticeable increase in activity by investors in 2015. The Highlands property market is heavily influenced by the Sydney property market with many buyers relocating from Sydney to the region. Now that Sydney has slowed and softened, the Highlands market, while currently still increasing, is also anticipated to slow."
HTW gave a recent example of a heritage listed dwelling which sold at the higher end of the scale in nearby Kiama. Rockleigh (above), a heritage listed circa 1860 Victorian style two storey dwelling in Bong Bong Street with northerly aspect and ocean and harbour views recently exchanged at around $1.1 million.
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Heritage property aplenty in NSW's Illawarra district: HTW  

Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Michael Crawford

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