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Following the Victorian government’s announcement of stamp duty cuts for first-home buyers, developers and builders are covering stamp duty for their FHB customers to avoid a lull in the market ahead of the tax cut later this year. 
First home buyers can save stamp duty – up to $15,000 – on a string of Victorian apartment projects and house and land packages, well ahead of the government-announced measures that take effect from July 1, according to a report by Fairfax Media.
The Andrews government had announced recently that stamp duty would be waived for first-home buyers for properties up to $600,000 in the new financial year, while shutting out investors in its move to battle the affordability crisis.
The new move has had mixed reactions from the industry as the tax cuts could skew the advantage towards projects targeted for first home buyers rather than investors.
In reaction, many investor-driven developers are moving their project release dates forward in order to to capture investor dollars before the tax cut is removed, Fairfax Media reported. 
For those developers and builders who have a large portion of their projects tied to the first-home buyer segment, the July 1 date presented a potential lull in the market.
Some newly-released developments saw an immediate drop in enquiries from first timers.
Porter Davis, which will pay the stamp duty for Victorian first home buyers who use the builder for land contracts, brought forward marketing plans to target first-home buyers by several months so it could ride the wave of interest generated by the announcements.
Paul Wolff,sales and marketing director said he was fearful that people were going to delay their decision.
“We bought a campaign forward on the back of the hype and leveraging from the government’s media on [the idea of], ‘how does first home ownership happen sooner rather than later?”
"Given how quickly land prices were rising, those who waited until July 1 may have lost more than they saved on the tax cut."
He also said he would retrospectively apply the saving to any first-home buyers who purchased land after October 31 last year and would match the figure if a buyer also received the stamp duty cut from their developer.
Developers of Richmond’s Supply &amp; Co. are offering stamp duty savings even more broadly. All owner-occupier buyers can get the savings, as well as 5 percent deposits, on the David Street project.
Beller Real Estate’s Heath Thompson, the agent selling Supply &amp; Co. development, said the offer was a way to make the apartments attainable for first home buyers, who may be beaten investors keen to jump on the tax dodge before it ends.
“Investors have an increased appetite to purchase prior to 30th June,” Thompson said. “But first-home buyers may actually miss out because they think ‘we’ll wait’.”
He said the changes to the tax will undoubtedly put more roadblocks in the way for investors, who were already facing stricter lending conditions.
Developer OpenCorp, the team behind The Eastside Village in Hawthorn East, will also cover stamp duty for all buyers for the next few months and developer Growland will also waive the tax on their Victoria Square (previously Joseph Place) project in Footscray.
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prateek24-ezbwHMbNAk

Developers cover stamp duty for first home buyers ahead of Victoria tax cuts

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Chinese buyers have trumped local bidders for properties in Melbourne’s upscale suburb of Toorak, with more than $50 million of property sold there over the past weeks.
Theses deals include 2 Heymount Close (above) and 9 Hill Street, with the two mansions selling for a combined $31 million at private auctions, according to Fairfax Media.
Buyers’ advocate David Morrell, who bid on behalf of local buyers for these homes, told Fairfax Media that Chinese buyers were back in the market over the past weeks after disappearing for nearly 12 months.
Describing the scenes at the private auctions, Morrell said buyers were bidding against each other through Mandarin- or Cantonese-speaking agents.
Both properties sold well over the reserve — the Hill Street property was on the market at $14 million and sold for about $14.6 million.
The four-bedroom home at 2 Heymount Close — with scope for redevelopment — was on the market at about $16.15 million and sold for $16.72 million.
“We can’t make the numbers stack up,” he said. “It’s not that we can’t afford it, but we just don’t want to be overpaying.”
The marketing for the two properties was done by Michael Gibson at estate agents Kay &amp; Burton.
The purchases by Chinese buyers comes in despite China tightening the screws to contain capital outflows from the country.
The equivalent of $275 billion exited the country via yuan payments through the 12 months to October 2016, versus a $101.5 billion inflow in the same period of 2015, as the Chinese currency weakened to an eight-year low against the dollar, Bloomberg reported.
Last month, Federal Treasurer Scott Morrison had ordered the forced sale of 15 residential properties in Victoria and Queensland bought illegally by buyers from China, India, Indonesia, Iran, Malaysia, the UK and Germany.  Of the 15, six were owned by Chinese.
“Last year there was half the number of transactions as there were the year before — you’ll find this quarter there’s even less,” Morrell said.
“And you only need to drive around Toorak and see why — everyone’s renovating.”
A five-bedroom Victorian terrace on about 1050 square metres at 1 Cross Street is believed to have sold for about $8 million to a local buyer.
Kay and Burton declined to comment on any of the prices, but said three of the four properties were sold to local families.
"Local buyers have been out in force this year, greater than last year,” Gibson said. 
“Not everyone gets off an aeroplane and buys a property — that happens infrequently these days,” he added.
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Chinese buyers outbid locals at private Toorak auctions

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With its new head office in Sydney's Rhodes Corporate Park, Frasers Property Australia wanted to make a statement about its innovation and excellence, says a new video which Frasers portrays as a case study of its general approach to development.
The office was awarded 6 Star Green Star business park facilities, from the Green Building Council of Australia and is a good example of the future of workspaces.
In the <a href="https://www.youtube.com/watch?v=mI4b8-RrC5w" target="_blank">YouTube video</a>, Reini Otter, executive general manager at Frasers Property, says the vision was a workplace that reflected “not only the culture of our business, but also the aspirations of the business for the next decade”.
As Reini says in the video, “we are in a 15-year-old fit out, ad hoc design, lacking in many ways”.
The new building’s design revolves around a “central hub”, with meeting rooms dispersed around the office. Reini says “there’s no offices either”, so everybody is “open plan”. There are several standing workstations, a cafe area, and a lounge, which is mostly designed for informal meetings. Also, quiet spaces called “booth”, which offers more privacy for concentrated work.
Reini, who is an architect, says the building not only achieves a “technical outcome” of better IT infrastructure and office organisation, but it is also an “embodiment of the culture of the Frasers business”.
The office is designed to promote more collaboration among employees to encourage innovation, says Reini.
“So this project is a good case study in how we approach all our developments.”
The video says “it’s not just about providing a workspace that improves efficiencies, it’s about improving the health and wellbeing of people that work there”.
Frasers Property Australia was formerly Australand, which was acquired by Frasers Centrepoint Limited in late 2014. The parent group is listed in Singapore and focuses on Australia and China with total assets of more than S$23 billion.
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Frasers' new office a case study in its approach to development

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Construction in Sydney’s industrial sector is likely to reach pre-GFC levels over 2017 as retail habits change and and the entry of giants like Amazon being a potential game changer, according to a forecast by LJ Hooker.
Planned industrial construction across Sydney this year is set to rise 28% from 2016 to more than 720,000 square metres, says the firm's latest Industrial Market Monitor report.
The outlook represents continued confidence from developers who delivered 560,000 square metres of new stock in Sydney in 2016, a 25% increase on 2015.
Developers have been reinventing the industrial sector over the last five years to address the changing economy, said LJ Hooker’s head of commercial Christopher Mourd.
“We’ve seen somewhat of a new industrial revolution, especially through Sydney,” said Mourd.
Despite the rise in construction, rents were largely stable across the city last year, as net absorption offset the withdrawal of stock for residential repurposing, except in the city’s south where prime rents rose 9% to $161 per square metre due to a scarcity of stock.
Until 2020, rents are tipped to grow 5.5% on average across the city’s Outer, Inner-West and North industrial hubs, which finished 2016 with average rents of $113 per square metre, $133 per square metre and $168 per square metre, respectively. Rents in the city’s south, however, could grow at twice that rate over the period, says the report.
<a href="https://www.propertyobserver.com.au/images/2017/03/21/LJHOOKERSYD1.jpg" target="_blank">Click to open chart in new window</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/2017/03/21/LJHOOKERSYD1.jpg" alt="">
As an example of the boom, stage one of Charter Hall’s M5/M7 Prestons logistics park in Western Sydney became the latest distribution facility to be fully-committed ahead of completion.
Specialist FMCG distributor BAM Wine Logistics has committed to 10,300 square metres of logistics space in the park on a seven-year lease term. The lease, secured by LJ Hooker’s Marcel Elias, is for $1,163,900 net (excluding GST) equating to $113 per square metre.
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 <img src="https://www.urban.com.au/images/2017/03/21/SydneyLJHooker2.png" alt="">
The wave of construction is also continuing in Victoria. Warehouse commitments from major operators including Woolworths, Target and The Reject Shop were set to maintain healthy construction levels.
Last year Melbourne attracted nearly $1 billion worth of development across 500,000 square metres. Nearly 100,000 square metres was commenced without a tenant pre-commitment.
In Brisbane, at the smaller end of the market, the lack of construction since the GFC has seen the large surplus of industrial units absorbed and the emergence of the first signs of pent-up demand.
“The retail sector has undergone a structural change in response to consumer habits, and that has reinvigorated the industrial market. Retailing has joined logistics in driving the change and developers have responded with a program of large warehouse developments focused on maximising efficiencies,” said Mourd.
“With the likes of Amazon planning a major foray into Australia, the industrial sector is attracting major developer activity.”
He said that LJ Hooker’s agents have reported strong levels of enquiry from private landowners looking to sell to developers to realise the capital growth in their assets, while existing landlords are seeking guidance on re-purposing. 
“In 2016, not a single speculative development within Western Sydney was completed prior to securing a commitment from a tenant which is unprecedented,” added Elias, who is director, LJ Hooker Commercial Silverwater.
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Sydney's industrial construction pipeline to hit pre-GFC levels in 2017: LJ Hooker

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English-speaking countries like the UK, US and Australia will take the lion’s share of the international student market but will face increased competition from European institutions, according to recent research from Savills.
The firm's latest <a href="https://pdf.euro.savills.co.uk/global-research/spotlight-world-student-housing-2016-2017.pdf">World Student Housing Spotlight</a> says that as the world's student population becomes increasingly mobile and education becomes globalised, international student populations will continue to rise.
Australia had largest proportion of of international students compared to domestic students within a country, with 26% of all students coming from overseas.
European institutions are actively trying to increase their international appeal, according to Savills. A large part of this appeal has been the increase of courses taught in English. 
English is an important language in the international business space, particularly with prospective employers, therefore tuition in this language has carried significant weight with prospective students.
"Attracting international students is important to a city's local economy as well as the bottom line and diversity of a university," the report said.
"These students often pay higher fees, spend more on both accommodation and living, and bring new insights and cultural perspectives to a country.
"The first case study of the success of this tactic came from the Netherlands, who were one of the earliest European countries to move towards English language tuition at scale."
The Netherlands now boasts the largest numbers of enrolled students on English taught programs (ETPs) making up 7.2% of their total student body, the report said.
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<img src="https://www.urban.com.au/images/2017/03/20/March22CommPropChart.png" alt="">
"In Denmark, while they don't have as large a number of students enrolled in ETPs, the students that are enrolled make up 12.4% of the total student body," the report said.
"Germany, on the other hand, while they have a large number of international students overall, do not have nearly as many of them studying ETPs, and those that do make up just 1% of their total student population.
"With considerably lower living costs than their counterparts in the US, UK and Australia, and many universities appearing in top global rankings, European institutions are a very attractive proposition for international students."
Savills said this rise in the international student market is creating opportunities for housing developers.
"A growing, internationally-mobile student population has fuelled demand for purpose-built student accommodation across the world.
"Investors may do well to watch for countries and cities that benefit from a diverse international demand base, or particular fast-growing outbound markets."
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Australia to face increased competition from Europe for overseas students: Savills

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Investment platform BrickX, which allows investors to acquire a slice of property through its ‘bricks’, has seen 13,393 bricks change hands in the last three months.
The platform was officially launched in September 2016 and has acquired properties in Bondi Beach, Double Bay, Enmore, Annandale and Mosman in Sydney and at Port Melbourne and Prahran in Melbourne. The combined value of all its properties is about $8,685,000.
Its investor count is at 2,845, according to its website, up around 100 since last week.
BrickX offers relevant data about a property to prospective investors to help them make a decision.
For example, a two-bedroom unit in Double Bay the company bought last year for $1,395,000 has 32 percent debt ($445,000) and an equity of $950,000. The initial brick price was $95, because each property is divided into 10,000 ‘bricks’.
The unit is currently rented for $1,000 per week and BrickX says the estimated rental yield is 2.1% pa. It paid a distribution of $0.15 per brick for February into investors’ digital wallets. So far, there are 1,305 investors in the property.
The five-year growth average for Double Bay is 12.06 percent, according to CoreLogic, and the estimated return on investment is 19.81 percent.
Investors can earn rental income from their property in proportion to their investment, or ‘bricks’ they own. They can also make capital gains by selling bricks owned by them. 
The current price for the Double Bay property's 'brick' was $97, as per the website.
Prices of bricks currently range from $68 per brick for its one-bedroom property in Enmore to $158 per brick for a two-bedroom house in Melbourne. 
The most expensive property in the portfolio is a two-bedroom house at Port Melbourne, which BrickX bought for $1.57 million.
The estimated net rental yield for these properties, as shown on its website, ranges from 1.48 percent to 2.93 percent.
BrickX charges a 1.75% transaction fee when you buy or sell your Bricks. The company says on its website that it has no other charges such as for funds under management, performance, contribution, service, or withdrawal fees. There are of course, monthly expenses associated with a property that owners of bricks have to factor in, just like any other investment property.
Its advisory panel includes CoreLogic’s head of Research, Tim Lawless and Nerida Conisbee, chief economist at realestate.com.au.  
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BrickX says property portfolio valued at $8.68 million 

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A heritage-listed building which was earlier the home of Rockhampton Post Office is going under the hammer at Burgess Rawson auction on April 5.
The iconic building at <a href="https://www.realcommercial.com.au/property-retail-qld-rockhampton+city-502317358" target="_blank">80 East Street, Rockhampton City, Qld 4700</a> is one of the top five ”Nobel Edifice" ranked buildings in Australia.
The building is fully leased with terms to 2022 with options for extension till 2032. The property earns a net Income of $458,902 per annum.
Tenants include Degani Bakery Café (Jolt Café), which has 78 stores in Queensland and Victoria, The Ranch Bar and Grill — a Texan-inspired restaurant, and Fitzroy Basin Association, a government-funded natural resource body.
It has a land area of 1,863 square metres and floor area of 1,368 square metres.
The current owner has refurbished the building with a new lift, airconditioner, electrical wiring and internal fittings.
The property last traded for a little more than $1.4 million in 2008, according to RP Data. The vendor was Central Queensland University. 
It has a site area of 1,863 square metres with a net lettable area of 1,368 square metres. 
The listing agents are Shaun Venables and Jamie Dewe of Burgess Rawson.
 
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Heritage Rockhampton building to go under the hammer

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Nearly $30 million was paid to 1,347 customers who suffered losses after they were misled by financial advisers, while the securities watchdog banned 26 advisers for misconduct as of December 2016. 
These are the findings from a review by the Australian Securities and Investment Commission of how Australia's largest financial advice firms have dealt with past poor advice and non­-compliant advisers, including how these firms have dealt with affected customers. 
The review, which forms part of ASIC’s broader Wealth Management Project, was focussed on the conduct of the financial advice arms of AMP, ANZ, CBA, NAB and Westpac.
ASIC deputy chairman Peter Kell said the report, “sets out the significant work that has been done by the major financial advice institutions to implement large­-scale review and remediation programs to identify and remediate customers impacted by poor advice given in the past”. 
The review looked at: 
<ul>
<li>how the firms identified and dealt with non­compliant conduct by their advisers between 1 January 2009 and 30 June 2015</li>
<li>the development and implementation by the firms of large­-scale review and remediation frameworks to remediate customers impacted by non­compliant advice, and </li>
<li>the processes used to monitor and supervise the firms' advisers, focussing on background and reference ­checking, the adviser audit process and use of data analytics. </li>
</ul>
ASIC Report 515 Financial advice: Review of how large institutions oversee their advisers (REP 515) covers the key findings of this review.
He said that while financial advice institutions had done much to improve their practices and compliance, more work was needed to re­build consumer trust in the financial advice industry.
ASIC has identified a number of areas of concern where further improvements need to be made, including: 
<ul>
<li>failure to notify ASIC about serious non­compliance concerns regarding adviser conduct</li>
<li>significant delays between the institution first becoming aware of the misconduct and reporting it to ASIC</li>
<li>inadequate background and reference-­checking processes, and</li>
<li>inadequate audit processes to assess whether the advice complied with the 'best interest' duty and other obligations. </li>
</ul>
“It is critical that customers are able to get financial advice they can trust. ASIC expects internal processes to support core values of putting the customer first and where there are failings, for advice firms to act quickly to provide a response in the interests of their customers. This is a message for both large and small advice firms,” Kell said. 
“Strengthening breach reporting requirements will be an important issue in the current review of ASIC's enforcement powers announced by Government in October 2016,” he said. 
The Australian Bankers' Association's recently announced a Reference Checking and Information Sharing Protocol, that takes a more rigorous approach to checking and provision of adviser references. Financial institutions regularly use data analytics now to detect irregularities early and take action.
 
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ASIC says $30 million paid to customers misled by wrong advice in its review of financial institutions

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The rate of housing market turnover, or transactions, is on an “unusual decline” with a sharp rise in off-the-plan sales of apartments — which are difficult to measure in a timely manner — likely to be a factor, according to the central bank.
Other potential reasons could be lower rates of home ownership, particularly for younger households, and migration trends. 
A fall in housing market transactions directly affects the economy as it hurts tax revenue - which made up about 40 per cent of total state tax revenue in 2014/15, besides impacting the creation of more jobs and related occupations such as real estate agents, lawyers and the finance industry, the RBA notes.
The RBA’s latest bulletin says the decline in the national housing turnover rate in recent years has come despite “the strength in a number of housing market indicators such as national housing price growth, which has historically been positively correlated with the turnover rate”. 
It says part of the recent weakness could from measurement issues arising from the increased share of apartments in new housing construction. 
Approvals for higher density housing have increased sharply since 2009 and now account for around half of all approvals. 
As a majority of new apartments are purchased off-the-plan, well before construction has commenced, they have settlement lags of around two or three years. With limited data about these sales until settlement, the RBA bulletin suggests that reported housing turnover is likely to be understated.
More approvals could only increase this understatement, according to the central bank.
Apartment transactions rose sharply through the second half of 2014 and early 2015, before declining to around 2 per cent of the housing stock. 
“The aggregate housing turnover rate would have also increased through late 2014 and early 2015 under these assumptions, before declining to be below its decade average rate,” says the bulletin.
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Off-the-plan settlement lags play a part in understanding the housing turnover maze: RBA

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The RBA’s increased focus on financial stability, particularly record high household debts amid rising housing prices will likely keep the central bank from further rate cuts in 2017, according to a recent report by the NAB.
Recent comments from RBA officials raise the possibility that “macro-prudential measures may be stepped up” and a further rate cut is unlikely anytime soon, said the Forward View – Australia,  report for March by NAB Group Economics.
“We have removed our expectation of a 25bp rate cut in late 2017, although continue to flag the risk of further monetary policy easing at some point given our concerns about economic growth and the labour market in 2018,” it said.
It said the property markets in Sydney and Melbourne “continue to defy belief in 2017, with property prices showing no real signs of slowing despite tightening credit conditions and concerns about affordability”.
<a href="https://www.propertyobserver.com.au/images/2017/03/15/NABHousingPrices.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/15/NABHousingPrices.png" alt="">
The report said the economy’s contraction in Q3 was only a temporary setback as it bounced back in Q4 with broad-based growth amid higher commodity prices.
But labour income continued to be weak, a fact pointed to recently by RBA Governor Philip Lowe who said that low wages growth and record high household debt are a sobering combination.
The report said housing finance has remained strong, especially for investors. Auction volumes are also solid, and auction clearance rates are up from the levels seen at the same time last year – suggesting the markets remain tight. 
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 <img src="https://www.urban.com.au/images/2017/03/15/NABAuctionClearance.png" alt="">
Elsewhere, price movements were relatively mixed in February, but the trends have generally been fairly positive in most markets. 
“Even Perth prices have been showing signs of stabilisation,” it said.
NAB says recent government measures to ease housing affordability, especially for first home buyers (FHB’s), could actually push prices higher.
The Victorian government recently announced stamp duty cuts for house sales under $600,000.
It said government measures along with the “the surprising momentum could suggest some further upside risk to our price forecasts”. 
Although, no further rate cuts would offset it to some extent. 
The research said it was leaving “our property price forecasts unchanged. Our national forecasts for 2017 are 3.4 percent for houses and 0.8 percent for units.”
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NAB drops rate cut forecast for 2017 

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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