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I was recently asked to outline my thoughts on how the Australian urban landscape might look 40 to 50 years from now.  Go on, you can laugh.  I did too.  It’s hard enough to forecast the next 12 months, let alone two generations away, but I’ve given it a go, of sorts, so here it is.
Firstly, though, it might be best to outline my methodology.  In short, this forecast will be based on underlying trends, some understanding of human nature, and importantly, the Australian mindset.  My outlook is supported by evidence – what people actually do rather than say – and importantly, not by urban myths or fallacies, despite the frequency and noise with which they have been aired of late.  Unfortunately, we don’t have the space or the time here to support every claim or go into massive detail, so this discussion is confined to broad shapes – not nitty-gritty.
Australia's urban landscape can best be summed up in two words –diverse and dispersed.
Let’s deal with the second D – dispersion – first.  Our regional centres are likely to become a whole lot bigger and at the expense of the already crowded capital cities.  The move away from the world’s bigger cities is already underway, as evidenced in the recent census in the United States, but also throughout much of Europe.  Several Asian and Middle Eastern countries are now also following suit.  The annual ABS small-area population data suggests it is already happening here and the 2011 census, due later this year, I believe, will provide further evidence.
Within our capital cities themselves, the move downtown will slow – again, it already is doing so – as the cost to live within close proximity to the CBD is just too high compared with the real benefits.  The urban myths that perpetuate inner-city density over other housing forms – suburban growth worsens carbon emissions and traffic congestion; people are being forced to live far from jobs concentrated in our CBDs; and denser development will make it cheaper – are all incorrect, but more significantly, they are not being embraced by the wider market.
Instead of having a single high-density city core with lower development density radiating outwards, the most likely urban shape in the future will be one of more even distribution of housing density throughout the city – concentrated more, no doubt, around middle-ring transport hubs and new master-planned town centres.  Our middle-ring and outer suburbs will have much more compact urban settings.
Diversity relates to the housing stock itself.  The current push towards smaller dwellings has little to do with demographics and the market’s wants and is more about housing affordability.  Moreover, it really has to do with being able to flog cheaper stock quickly, often to an unsuspecting audience.  There is a demand for tightly sized product, but it is nowhere as near as high, nor is the long-term trend towards such as strong, as the urban boosters advocate.
Taking a wider view, Australia (and America too) is still in its frontier or “barbaric” stage of its cultural evolution.  We walk with wide gaits, worship most things large, and don’t really like crowded spaces or queues.  Go visit any major city in Europe or Asia for that matter and you can spot the Aussie (or Yank) a mile away.  We like our space, aren’t really ready to give it up, and are not likely to do so for many decades to come.
Rather than cling to the idea that density and concentration are best, all those planners, architects and developers out there might do better to focus on what appeals to the vast majority of the population, particularly the middle and working classes.  Nurturing smaller, more efficient cities, as well as expansive suburbs and revived small towns, may prove far more practical and beneficial than imposing a manic agenda for relentless centralisation.
For mine, rather than force a density agenda on a largely unwilling population, it makes sense to consider how to make a more dispersed (and diverse) urban future more workable and sustainable.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped more than 500 new residential developments come to fruition and writes the weekly  <a target="_blank" title="Matusik's Missive" href="https://matusikmissive.wordpress.com/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

Diversity far and wide is our housing future

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Stamp duty backflip
The Queensland government wins the Australian record for tax backflipping by reneging on a promise to do something serious about residential stamp duties. Instead, stamp duties on the primary place of residence will increase across all price groups from August 1. For many this will mean paying twice as much duty next time they buy a Queensland property. Agents expect fewer resales as a result.
Grants barely touch the sides
The Queensland Government has also announced a $10,000 grant to anyone who buys a new home under $600,000 for six months from August 1 this year. But unless these people are first-home buyers or investors they will be paying the additional stamp duty. Upgraders – who make up close to half of the market – are at best likely to break even if they buy a new home between now and January 31, 2012.
Buyers deferring contracts
In a related story, Queensland builders are reporting that buyers are cancelling and deferring contracts. But industry sources say that these buyers could be in for a rude shock, with cancelled contracts not eligible for the $10,000 grant if re-signed after August. In fact, all Queensland home owners – and especially those trying to sell – could be in for a rude shock come the 1st of August. A bigger shock awaits us all come February 1, 2012.
Meagre discount on developments
Meanwhile, every developer is trying to attract attention by offering, effectively, a 2% discount on the price of their new dwellings. Although the initial response has been encouraging, one wonders if it can last. As one property analyst, who wished to remain anonymous, quipped: “If Myer was having a 2% discount sale in about a month’s time, you won’t really plan your diary around that event. Even less so if it was going to now cost you twice as much to get to the sale. But if you had already made plans to buy something from a department store, you would most likely change your schedule and take the discount, little as it may be.”
Gold Coast in trouble
Just one in seven dwellings approved on the Gold Coast is actually being built. This is against a typical 75% completion rate. Yet Gold Coast mayor Ron Clarke denies that there is anything wrong, citing that net employment has increased on the Gold Coast over the last 12 months and claiming that winning the 2018 Commonwealth Games bid will fix any issues. That assumes that there is anyone left with a job on the Gold Coast in seven years’ time.
Incentives to sell well
But there is some good news. Real-estate agents will now be able to set their own fees when it comes to buying and selling Queensland property. Gone are the days of agents getting you the fastest price – a seller will soon be able to incentivise a real-estate agent to get the most for the property. Deregulation will essentially allow the market to determine price rather than the government, which is always a good thing.
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House building grinds to a halt on the Gold Coast

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It has been kind of fun sitting on the sidelines, watching the various residential property data houses bicker over who is correct, who got the biggest headline or the most media coverage. Heck, some even now boast about how much press they are getting. I thought having celebrity cooks was scraping the bottom of the barrel, but now we have big-shot economists and property commentators to boot. Is there no end to this celebrity cult?
Now let’s clear the air before I go much further.  Residential asking prices are falling. We stated they would and that they could fall by as much as 5% to 8% this calendar year, maybe more in Queensland. They might fall even further, but that is dependent on what happens with interest rates, employment, supply and confidence.  How baby boomers and recent first-home buyers act (and react) in the near future in also important. Assuming, and maybe it is a big assumption, that the worst doesn’t eventuate, the housing cycle will right itself and, over time, the declines in asking prices will be regained.
Note the emphasis on asking prices. Extremely few sellers are making an actual loss on their resale.  hey are getting more than they paid for it – in terms of purchase price and all hard costs. What is attracting all the media hype is the difference between what a vendor wants for a property (nearly always inflated, if you ask me) and what the market is prepared to pay. This happens in a buyer’s market, when the amount of property listed for sale is greater than the demand. It happens in every industry. Heck, I have never paid full price – outside of basic staples – for anything.
Property is an interesting investment class. Yes, I subscribe to the notion that housing should be a home first and a means of accumulating wealth second, but under Australia’s current taxation laws, it makes financial sense to try to maximise the capital growth of your home. Most do these days by renovating a home, living in it for a period time, and moving on – all of which is tax-free. But home owners only really like doing this when it’s a seller’s market. Statistically, this makes little sense at all.
When prices are rising, sellers will happily sell their home for more than they expect, only to buy in the same market and pay more (than the vendor expects) for someone else’s house.  Now most will sell and move because they want something better (or different) than what they have already. The data show that in a seller’s market most sellers will pay more for their next home than they actually made from the one they just sold. But I suppose they did have a “win” after all – i.e. they got more for their house than they expected.
Now, reverse the situation – a seller in a buyer’s market is reluctant to discount their home to the extent needed to make a relatively quick sale. (Remember, my friends, a successful real-estate agent gets the vendor a quick sale, not necessarily the highest price.) Doing such is perceived as a “loss” to the seller, though in most cases it actually isn’t a real loss at all. Yet in a buyer’s market it is in their best interest to sell quickly. Why? Because they will be buying in the same market, and the statistics show that if they discount appropriately and sell quickly, they can often gain more than they lost when buying again.
Most trade property way too late in the cycle. Now, despite what we hear, is a great time to upgrade. You might be surprised at how much you can actually save by doing so now.
Now back to our property celebs. If you are going to run these silly lists outlining the most discounted properties on the market, do some real homework first. And in particular, stop using these examples as the means to judge the overall health of a city or region’s housing market. The happenings on South Stradbroke Island or the listed price drops of a grossly overpriced bit of dirt wedged between a quarry, the M1 and a major arterial road have little relevance to what is happening across Brisbane or the Gold Coast.
If I wanted to get some media coverage on a “fringe” property, I, too, would milk the system in a similar way. You should be quarantining these listings as “out-of-line”. A serious analyst would.
Mainstream asking prices, by the way, are not being discounted by 30% to 50%. What is taking place are the usual price negotiations that occur during every buyer’s market phase of the property cycle.
How about you guys start using some real practical examples – pick some mainstream properties, with vendors who are realistic yet not distressed (as only a small percentage really are), and share with us your findings. In Brisbane you will find discounting of up to 10%, with many sellers having made up slightly more than they lost on their next purchase and, in real terms, very few being left out-of-pocket.
But that won’t get you much media coverage will it? Nor a gig on Channel 7’s Sunrise or the ABC’s Lateline Business. Let alone over a week as the top-billing article on Fairfax’s Domain.com.au.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a target="_blank" title="Matusik's Missive" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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Wisdom in selling in a buyer's market

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<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Interest rates didn’t rise yesterday, and no surprise there. Yet we keep hearing about how they will, inevitably, do so and in fact many, many times.  Will these desk-bound, Canberra-centric economists ever shut up? Maybe they should go outside for a while, leave the ACT for a bit and visit a few shops, speak to a small business owner or two or visit a Queensland construction site (if they could find one). They might discover the real world.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Although mining-related stuff is going great guns, the rest (and it is a very big rest) of us are not.  Technical recession or not (well, not yet, anyway – but the June quarter figures will leave no shadow of a doubt), we are facing some very tough economic times and an increase in interest rates any time soon will stuff things up big time.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">I was going to quote a baker’s dozen or so of statistics, highlighting our current economic woes, but to be honest I don’t have the strength nor do you want to keep hearing about them. “More sugar,” someone emailed me the other day, and “less lemon”. I am listening, but it is bloody hard at present. I do prefer a blue sky over cloud.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">This mining boom – let’s call it Mark II – is shaping up to be quite different from the first one. During the first leg of the mining boom (circa 2001 to 2008), our exports over imports (<em style="outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: italic; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px; border: 0px initial initial;">terms of trade for all you smarties out there) rose to the highest level since the early 1950s. Although a two-speed economy was evident then, the gap was perceived as less than today, due to limited government regulations, tax cuts and generous public handouts.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">After a GFC-induced pause during 2008-09, the mining boom is back and according to some, big time.  The terms of trade are up; unemployment (well as feebly measured by the ABS) is below 5%; apparently there are skilled labour shortages and almost all of the mainstream financial press are running headlines screaming BOOM!  But this time around it feels (heck….it is) different.  Why is this so?
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Firstly, house prices have hit an affordability wall.  With some good luck, it won’t turn into a collapse, but it has hit a serious barrier.  Time will fix the problem – as wage growth catches up with housing prices – but this will take years to resolve.  A dose of commonsense would do wonders.  A change in planning policy would see housing affordability fixed almost over night.   But there is a lot of inertia here, including in some of our biggest institutions (i.e. the banks).  So I suspect a slow deflate (in real terms) is on the cards for Aussie homes for some time to come.  Of course, there will be winners and losers as always is the case when an overall market type loses its pep.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Secondly, the Australian dollar is high and is likely to remain so.  Profits, for many private businesses, are already changing to losses.  High commodity prices and our high interest rates; against the world stage; are likely to ensure a strong Aussie dollar for some time to come.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Thirdly, policy makers (I really mean the RBA) so far have managed the second phase of this mining boom quite well; although the November interest rate rise was a step too soon, but everyone is allowed to make a mistake now and then.  A fool, however, makes that same mistake twice; an idiot three times.  I hope Glenn Stevens isn’t going to be foolish nor act like an idiot.  Yesterday’s decision to leave rates on hold, at least, proved that Glenn is no fool, yet.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Given the tight Federal Budget – which as I have <a style="outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; color: #990000; text-decoration: none; padding: 0px; margin: 0px; border: 0px initial initial;" href="https://matusikmissive.wordpress.com/2011/05/04/may-budget/">argued </a>recently isn’t really what is needed now, as we need to stimulate the non-mining (the vast majority of the economy) sectors now for years to come – and the post-flood/cyclone slowdown, interest rates, for the time being at least, should remain on hold.  My way of thinking is this needs to occur for at least another twelve months or so, maybe more.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">However, if the general economy continues along its current trajectory in coming months, then last November’s pre-emptive strike will need to be reversed.  Inflation (for now at least) is well under control; jobs advertisements are on the slide; house prices are also falling; fewer firms are posting gross profits; there has been no economic growth so far this year and manufacturing is contracting once more.  Sorry, for the lemon infusion, but I couldn’t help myself!
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Hmmm, sound like we might see interest rates actually fall next rather than rise.  I might have been <a style="outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; color: #990000; text-decoration: none; padding: 0px; margin: 0px; border: 0px initial initial;" href="https://matusikmissive.wordpress.com/2011/02/16/rates-must-fall/">right </a>after all.   The RBA confesses in yesterday’s media release that the current cash rate setting is mildly restrictive.  I think that come August this mild settling will feel severe indeed.  Fingers crossed (the sugar) that it doesn’t come to this.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Regardless of the future direction of interest rates, what would help the situation – and stop all the jawboning and resultant negativity – would be some very clear advice from the RBA outlining (in plain English please) their prognosis for the next financial year and when (and by how much) interest rates might change.  This monthly interest rate guessing game is counterproductive.  Run through a budgetary process, factor in the variables and let us know.  If nothing else, it will help shut up all those damn economists waxing lyrical about every minute detail that is muttered by GS and his band of merry men (and two ladies).
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">And the final reason, and the main one, why this boom, for most of us, feels more like a recession, is the lack of confidence.  Yes, consumer attitudes have changed fundamentally.  And I don’t buy into the surprise lift in April’s retail turnover, as a sign that we are going back to our old spending ways.  Consumption is out and saving is in.  Most, too, are less interested in taking on debt.  But things right now have become outright gloomy – we are squirreling money away like our lives depend on it – yet our balance sheet indicates considerable strength.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">One of the key reasons for this gloom is the almost daily threat of looming interest rate rises.
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.1em; margin-left: 0px; outline-width: 0px; outline-style: initial; outline-color: initial; font-weight: inherit; font-style: inherit; font-size: 15px; font-family: inherit; vertical-align: baseline; padding: 0px; border: 0px initial initial;">Glenn please, from this day onwards, tell us a year in advance, when to expect a change in interest rates and by how much.  Proact, stop reacting – this constant game of cat and mouse needs to stop.
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Be proactive, not reactive

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

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A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

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The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

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A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

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Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

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Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

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More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Michael Matusik

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