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Commercial properties in NSW’s Port Macquarie are attracting self-managed super funds (SMSF) because of the Mid North Coast’s affordability and healthy yields.
“It’s a bit like Sydney in towns such as Port Macquarie, with SMSFs driving the sales of quality investment assets,” said Graeme Garrett, co-principal of Raine &amp; Horne Commercial Port Macquarie. 
SMSFs leasing a commercial property back to a related business is becoming a common trend in the sub-$500,000 market in Port Macquarie, added Garrett.
Several small business owners too are buying properties through SMSFs and then leasing them back to the business, which the current superannuation laws allow, he said.
In many cases, professionals such as accountants, lawyers, engineers, architects and real estate agents are buying commercial properties through a related DIY fund. Properties around the range $400,000-$500,000 are in particularly in demand.
“The trouble is that there’s a shortage of industrial stock in this price range to meet demand,” said Garrett.
Investors operating outside a super fund are also active in the Port Macquarie market because of the low interest rates and the fact that commercial properties are viewed as an investment safe haven, he added.
“Sydney investors seeking solid yields are also starting to make their presence felt in Port Macquarie.”
Yields for industrial stock priced below $500,000 range from 8%, while it’s 6.75-7% for retail and 8% for office space, according to Raine &amp; Horne Commercial Port Macquarie. 
“We auctioned a retail property to a Sydney investor, who purchased it through a self-managed super fund, and who intends on retiring to Port Macquarie down the track,” said Garrett. The property located at 5/56 Clarence Street, Port Macquarie sold under the hammer for $622,500.
Garrett said members of SMSFs would be best served considering a commercial asset that will appeal to future tenants.
“If you occupy it yourself now and then retire, you need to consider what appeal that property will have to future tenants and whether it will be easily let out if it’s part of your future retirement plans.
“Our proximity to Sydney and Newcastle is attracting investors from those cities through a combination of our healthy yields and commercial real estate affordability. 
“When you can buy two or three assets in Port Macquarie for the equivalent of a single-tenant property in Sydney, investors see this as value.”
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prateek24-ezbwHMbNAk

DIY super funds driving Port Macquarie commercial markets: Raine & Horne

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Singles earning an average income have been priced out of the property market from nearly all of Australia’s capital cities, a new report shows.
An analysis by financial comparison website RateCity.com.au shows that Hobart and Adelaide remain the last affordable capital cities for the nation's singles with a salary of $59,441 and $72,529 needed respectively to afford repayments on a 30-year mortgage (with a deposit of 20% at today's average variable rate of 4.74%). The industry rule that no more than 30 percent of a person’s income should go towards housing costs was applied to arrive at the figures.
The east coast remains the most unaffordable, with Sydney topping the list of tough markets for singles to crack. A person wanting to buy in the harbour city needs a six-figure salary of $137,556 to comfortably fund a mortgage on a median-priced house.
Someone looking to buy in Brisbane or Melbourne would require an $80,866 and $96,706 salary respectively to afford a median priced house, while in Canberra the salary needed would be $97,756.
According to Peter Arnold, data insights director at RateCity.com.au, the report raises further concerns that rising property prices across many cities in the country are forcing Australians out of the market. This could fundamentally impact the nation's demographics and service needs in the years ahead, he said.
“Our analysis reveals a reality that many young Australians are now living; the impossibility of affording a median-priced house on an average salary in most capital cities,” Arnold said.
“Without a partner or family member to share mortgage costs with, the numbers paint a grim picture for millennials, many of which may be squeezed out. Even as part of a couple, east coast property prices are out of reach for many Australians.”
“Many first home buyers, including young families, may find that they have to move away from careers in the CBD and the support of families to more affordable parts of Australia. This could have long-term effects on Australian society and bring with it challenges for the future in many areas, including transport and childcare.”
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Singles priced out of property market: RateCity research

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Property investments by SMSFs through limited recourse borrowing arrangements (LRBAs) could come under increased scrutiny of the tax office this year, says major accounting firm H&amp;R Block.
Last year, the ATO had expressed concern at LRBA loans that were not structured correctly, including incorrect registration of the ownership of property bought under an LRBA. It spoke of increasing its focus on the LRBA route.
Given the growth in the SMSF sector and the increasing popularity of strategies such as LRBAs, H&amp;R Block has tipped that property will remain a top priority for the ATO’s compliance work in the SMSF sector this year.
“I know the ATO always keeps a close eye on property investment and especially LRBAs,” H&amp;R Block's director of tax communications, Mark Chapman told SMSF Adviser.
This particularly applies to related party borrowings which may currently be structured on non-commercial terms, with a June 30 deadline to have these structures rectified, it said.
According to the ATO website, an asset purchased by an SMSF trustee through LRBA is held in a separate trust.
If the loan defaults, the lender's rights are limited to the asset held in the separate trust, but not to assets held in the SMSF.
In 2015, an ATO campaign saw 500 postcodes issued with warnings urging holiday home owners to ensure deductions were not made during periods a property was not available for let.
“With property rental a valuable source of extra income for millions of taxpayers, it can be expected that the ATO will follow up with some targeted reviews and audits this year,” Chapman was quoted as saying.
The “sharing economy” – “driven in part by the high levels of non-compliance amongst those driving for Uber or renting rooms through Airbnb,” would also be an area of scrutiny by the ATO, he said. 
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ATO to focus on LRBA route to property investment by SMSFs

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A disproportionate rise in house prices compared with wages growth has made the task of first time buyers difficult in NSW, but there was still an increase in their number in the year to August 2017.
A recent Bankwest report reveals a growth in first time buyers (FTBs) of 5.1% (based on ABS data), bringing the total number of FTB purchases to 17,844 for the year. 
This is the largest increase since November 2014.
NSW FTBs still face an uphill battle to get their first property with the average couple having to save for six years to get the necessary $148,281 for a 20% deposit on median priced house, according to the 2017 Bankwest First Time Buyers Report.
This time span is an increase of six months from this time last year.
Sydneysiders have to save for 8.2 years (up eight months on last year) to save the necessary $215,133 for a deposit. This makes both NSW and Sydney the country’s most inaccessible state and city for FTBs.
<a href="https://www.propertyobserver.com.au/images/2017/12/1/NSWMostTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/NSWMostTime.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/12/1/NSWLeastTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/NSWLeastTime.png" alt="">
Bankwest general manager personal and small business banking, Donna Dalby said NSW’s FTBs are at the mercy of a number of factors.
“The main reason for this increased savings time at both the state and city level is an increase in house prices compared to increases in wages. House prices went up by 10.7% in NSW whereas wages only rose by 2%.
“All this means the average savings time for a NSW home is 1.4 years more than the national average,” she added.
The challenging nature of the NSW market means home owners are considering other options, such as a looking outside the top end of Sydney’s housing market and into more humble avenues.
This is reflected in the fact that the average house loan size for NSW FTBs was a relatively modest $368,500 in the year to June 2017.
The report also shows that Sydney FTB couples could do well to consider opting for a unit rather than a house as a first home. The average saving time for a unit across Australia is 4.2 years, five months less than the savings time for a house. In Sydney the saving time for a unit is 5.9 years, 2.3 years less than the saving time needed for a house.
“Everyone dreams of having their own house but medium and high density housing is on the increase across the country and can offer a noticeably quicker route to home ownership than aiming at a house purchase,” said Dalby.
Sydney’s Mosman area was the most inaccessible. FTBs there will require an average of 20.4 years to save a median deposit of $795,408, making the area the second least accessible in the nation behind WA’s Peppermint Grove, said the report.
The significant four-year rise in saving time in the year to June 2017 was driven by a 29.8% increase in Mosman median house prices.
Remarkably however, the nation’s largest year-on-year increase was in Hunters Hill where it takes 4.1 years longer for a couple to save the $682,678 deposit on a median priced house relative to last year.
The findings were part of the ninth annual First Time Buyers Report by Bankwest.
A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-125807558" target="_blank">31 Morish Street, Broken Hill</a> (picture above) recently sold for $115,000.
A two-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-126500142" target="_blank">27 Central Street, Broken Hill</a> (pictured below) sold in November 2017 for $95,000.
<img src="https://www.urban.com.au/images/2017/12/1/BrokenHill2.png" alt="">
 
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Rise in first time buyers in NSW despite challenging housing market: Bankwest 

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Melbourne stays firmly perched at the peak of cycle for unit markets, while Sydney remains at the start of decline, according to property valuation firm Herron Todd White’s (HTW) recent report.
“This year will undoubtedly be seen as the one where the collective boomtown mentality of Sydney took a breather,” according to HTW’s Month in Review for December.
In Melbourne, it was a very good year for property with great fundamentals and many investors still confident there’s a way to go.
Ballarat, which had made it to the peak of the unit market cycle, slipped one notch to approaching the peak.
The peak of the market position is dominated by cities or regions from NSW, with Gold Coast and Melbourne the only outsiders.
As HTW put it: “2017 was the year some of our hottest markets decided it was time to take a breather.”
The bottom of market has new entrants in Darwin and South West WA, which join an already long list led by Adelaide. Darwin was approaching the bottom in November.
Meanwhile, Brisbane, Canberra and Perth remain at the declining market position.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWUnitsDec.jpg" target="_blank">Click to enlarge</a>
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/5/HTWUnitsDec.jpg" alt="">
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Melbourne at peak of unit market, Sydney remains in decline: HTW clock

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National residential listings rose by 3.2% to 334,594 in November 2017, with stock levels jumping in Sydney, Melbourne, Canberra and Adelaide, as homeowners seek to take profits ahead of the summer break, latest data from SQM Research shows.
Canberra led listings with an 8.5 percent jump, followed by 5.9% in Adelaide, 5.6% in Sydney and  4.9% in Melbourne. 
Compared to a year earlier, listings are up 20.1% in Sydney, reflecting a large increase in properties available for sale, though in Melbourne stock levels are down 10.3% from a year earlier, SQM Research said.
In Brisbane, listings were up by 3.3% and in Perth they rose 3.4%. In Hobart, listings were up by 3.1% over November, but are still down 28% from a year earlier, reflecting a sharp shortage of properties available for sale in that city. 
“November listings usually jump ahead of the market slowing during the Christmas and New Year’s break, so the results are expected. That said, the year-on-year increase in Sydney is significant. Sydney now has the highest level of listings since October 2012,” said Louis Christopher, managing director of SQM Research.
“While there is a slowdown in Sydney, and to a lesser extent in Melbourne, we are still of the belief this is just a temporary stay, with a likely acceleration in market conditions next year based on an expansion in lending once again by the banks and still low levels of interest rates.” 
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQM1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQM1.png" alt="">
Capital city asking prices rose 0.5% for houses and 0.2% for units for the month to December 5. The largest monthly rise came from Canberra, where house asking prices rose 5.9%. 
In Melbourne, asking prices for units rose by 1.4%. Year-on-year asking house price gains were the strongest in Melbourne, with prices rising by 22.2%.   
Hobart had the strongest asking price gains for units, up 19.7% over the year.  
Only Darwin and Perth experienced price falls as the mining downturn continues to impact the property markets there, SQM said.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQMIndex.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQMIndex.png" alt="">
<h3>Key Points </h3>
<ol>
<li>National listings rose 3.2% during the month of November to 334,594 residential properties, but were down 3.7% over the year.</li>
<li>Listings rose the most in Canberra over the month, up by 8.5%, to be up 10.8% over the year.</li>
<li>Listings jumped in Sydney by 5.6% over the month, to be up 20.1% over the year.</li>
<li>Hobart recorded a monthly rise in listings of 3.1%, but they are down 28.0% over the year.</li>
<li>Capital city asking prices rose over the year to December 5 by 10.2% for houses and 6.0% for units.</li>
</ol>
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Property listings rise in November as owners seek profits before summer break: SQM Research

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Shoalwater and North Coogee in Perth and Halls Head in Mandurah are the three top suburbs in Western Australia where the prices of units showed the most growth in the last five years.
The data from CoreLogic data tracks the percentage growth over a five-year period.
North Coogee (postcode 6163) grew 34% and was far ahead of the rest of the pack. Unit prices in Shoalwater grew 23.1%, while they were up 23.4% in Halls Head.
Of the 13 suburbs, 11 are in Perth.
<table border="0"><tbody>
<tr>
<td> Suburb</td>
<td> 5-year growth</td>
</tr>
<tr>
<td> 1. Applecross</td>
<td> 17.6</td>
</tr>
<tr>
<td> 2. Balga</td>
<td> 16.5</td>
</tr>
<tr>
<td> 3.Busselton</td>
<td> 16.9</td>
</tr>
<tr>
<td> 4. Coolbellup</td>
<td> 16.1</td>
</tr>
<tr>
<td> 5. Halls Head</td>
<td> 23.4</td>
</tr>
<tr>
<td> 6. Melville</td>
<td> 21.1</td>
</tr>
<tr>
<td> 7. Mount Pleasant</td>
<td> 17.3</td>
</tr>
<tr>
<td> 8. Nedlands</td>
<td> 22.7</td>
</tr>
<tr>
<td> 9. North Coogee</td>
<td> 34</td>
</tr>
<tr>
<td> 10. Shoalwater</td>
<td> 23.1</td>
</tr>
<tr>
<td> 11. Tuart Hill</td>
<td> 18</td>
</tr>
<tr>
<td> 12. Westminster</td>
<td> 17.9</td>
</tr>
<tr>
<td> 13. Woodlands</td>
<td> 19.2</td>
</tr>
</tbody></table>
In North Coogee, the median unit price is $670,000 as at September end, according to CoreLogic.
In the outer southern Perth suburb of Shoalwater (6169), the median price for units is $245,000.
A three-bedroom unit at <a href="https://www.realestate.com.au/property/vlla-5-16-arcadia-dr-shoalwater-wa-6169?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">5/16 Arcadia Drive, Shoalwater</a>, sold in February 2017 for $412,500. The unit last changed hands in 2002 for $200,000, according to CoreLogic RP Data.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/Shoalwater1.jpg" alt="">
Another three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-wa-shoalwater-120085101" target="_blank">1/154-156 Arcadia Drive, Shoalwater</a> (picture above) sold in October 2015 for $355,000.
Previously, it sold in July 2014 at the same price but in June 2011, the unit changed hands for $300,000, CoreLogic RP Data shows.
Halls Head (postcode 6210) has a median price of $390,000.
 
 
 
 
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North Coogee leads WA's best price growth suburbs over past five years

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The region in Adelaide from Prospect to Walkerville has shown the strongest growth in home values in South Australia over the last 10 years, according to CoreLogic’s latest data.
All the top five regions listed under South Australia showed a consistency in their growth numbers — between 30 and 40% — as per figures in CoreLogic’s Best performing property markets past 10 years data. 
<a href="https://www.propertyobserver.com.au/images/2017/11/30/SA10years.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/11/30/SA10years.png" alt="">
CoreLogic’s methodology is based on the best performing property markets at an SA3 level (SA3 represents a regional area serviced by major transport &amp; commercial hub with a population of between 30,000 and 130,000 people).
The median price of dwellings in Prospect - Walkerville was $697,216. 
A four-bedroom house at <a href="https://www.realestate.com.au/property/36-york-st-prospect-sa-5082?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">36 York Street, Prospect</a> (picture above) sold for $700,000 in July 2017, according to Corelogic data. Previously, it sold for $295,000 in 2006. 
A two-bedroom house at <a href="https://www.realestate.com.au/property/2-le-hunte-ave-prospect-sa-5082?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">2 Le Hunte Avenue</a> in Prospect sold for $615,000 in July 2017. It previously sold for $518,000 in 2012 and $368,000 in 2006.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/Prospect.jpg" alt="">
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Prospect-Walkerville scores SA's highest 10-year growth in home values: CoreLogic

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Western Australia lags behind rest of the nation in price growth of dwellings over the last 10 years, with only Serpentine-Jarrahdale growing in double digits, according to the latest CoreLogic data.
With a 10 year growth of 17.5%, Serpentine-Jarrahdale has outperformed the rest of WA, with every other region of the state recording growth of less than 5% over the decade.
The data also highlights just how weak the housing market in Perth has been over the past decade.
<a href="https://www.propertyobserver.com.au/images/2017/11/30/Serpentine.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/30/Serpentine.png" alt="">
CoreLogic’s methodology is based on the best performing property markets at an SA3 level (SA3 represents a regional area serviced by major transport &amp; commercial hub with a population of between 30,000 and 130,000 people).
The median price of dwellings in Serpentine-Jarrahdale was $406,775, according to CoreLogic data.
A four-bedroom house at <a href="https://www.realestate.com.au/property/18-mcneil-gr-jarrahdale-wa-6124?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">18 Mcneil Grove, Jarrahdale</a> (picture above) sold for $410,000 in December 2016. Previously, it traded for just $33,500 in March 2002, Corelogic data shows.
Another house in Jarrahdale, at <a href="https://www.realestate.com.au/property/5-brady-rd-jarrahdale-wa-6124?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">5 Brady Road</a>, sold for $285,000 in July 2017, having previously changed hands for $280,000 in April 2009.
The growth in value was just $5000 in eight years, a good example of the weakness in the WA market.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/Jarrahdale2.jpg" alt="">
 
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Serpentine-Jarrahdale the only WA region with double-digit 10-year growth: CoreLogic

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Mixed-use retail assets continue to find favour with investors, most recently evident from the ongoing auction campaign to sell two lots in Sydney’s Inner West, say Cushman &amp; Wakefield.
Located at <a href="https://www.commercialrealestate.com.au/property/lots-1-2-270-liverpool-road-ashfield-nsw-2131-2013999807" target="_blank">270 Liverpool Road</a> (pictured above) in Ashfield’s retail strip, the lots comprise two brand new strata retail stores tenanted by ANZ Bank and Chemist Warehouse.
According to Cushman &amp; Wakefield, the strong interest in the upcoming auction for the two lots has been driven primarily by high net worth individuals and family investors, both from the local area but also interstate and overseas. These investors are attracted to the long term capital growth presented by the retail sites.
With the rise in medium and high density housing, there has been a significant effect on the way we work, shop and live, say Cushman &amp; Wakefield.
This is also driving experiential and mixed use retail as retailers look to meet the challenge from online shopping.
Demand for mixed use retail and lively high streets storefronts are, in part, also in response to increasingly compact living spaces that are impractical for entertaining.
For developers, the mixed use retail component of a development can generate significant returns, and margins can be increased through maximising the retail pricing and refining their strategy.
“With an apartment tower and space below you effectively create a vertical community,” says Cushman &amp; Wakefield’s head of Research Dominic Brown.
“The retail offers more than convenience; the right tenant emphasises that local village atmosphere and occupiers buy into the concept of a café where the barista knows their order, or bank where the teller knows their name.
“The natural solution for residential adjacent retail is convenience retailing, however, any business offering something the internet can’t is ideal. An experience or service element which is not appealing or available for online purchase will be well received by any resident.”
The two lots going to auction on December 5 reflect this trend.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/24/Ashfield2.jpg" alt="">
Lot 1 is occupied by Chemist Warehouse, which is on a new 10-year lease to 2027 plus options to 2037.
The net income from the property is $434,687 per annum plus GST.
The net lettable area is 789 square metres.
Lot 2 is lease to ANZ Bank which is on a seven-year lease to 2023 plus options to 2033.
The net income from the property is $253,838 per annum plus GST.
Its net lettable area is 274 square metres.
Both properties have 4% annual increases.
The listing agent is Anthony Bray.
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Mixed-use retail values boosted by surging residential development: Cushman & Wakefield

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

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

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

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

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

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

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

Prateek Chatterjee

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