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Greater Bank has cut fixed home loan rates (owner occupier and investment) by up to 0.25 percent and announced a 5 year fixed home loan rate under 4 percent.
The 5 year Ultimate Home Loan will be 3.99 percent from Monday May 16.  
The rate applies to owner occupier loans worth more than $150,000 where the loan to value ratio does not exceed 85 percent. 
The comparison rate is 4.48 percent. The three and four year rates are also 3.99 percent (comparison rates 4.51 percent and 4.49 percent respectively).
Greater Bank also cut all variable home loan rates by 0.25 percent this month.
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Greater Bank cuts 5 year fixed rate to 3.99 percent

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In our Purchase or Pass segment this week Andrew Rechtman from realestate.com.au and Evan Yanitsas from Century 21 discuss a property as advertised as having parking, but all is not as it seems.
Chris: It is a 2 bed, 1 bath unit with parking, 8.3 kms from the CBD and less than 500m to the local action. At 110sqm it’s one of the largest units in the area and boasts a north facing garden. It’s situated in a small federation block of 4 and has 3.2m high patterned ceilings and lime washed floorboards. It’s advertised as having a parking area but you can only park X cars. It recently sold for $1.35m and rents for approximately $900/wk
Evan: Size for a property, especially a rental property is very important. 110 sq m represents a pretty good size. The issue, as you pointed it out though, is the parking for this one and that’s something I think we should discuss.
Is parking important? Do we need parking? I think yes especially for an investment property. But yeah, these are the things to consider for this property.
The yield as we saw there, wasn’t as high as it could have been, and I think the introduction of…if it had a designated parking spot could have improved the rental return and made it a much more worthwhile investment.
Chris: Yeah, so certainly things to think about. One if the main things here is it has got a garden…how rare is it to have something like that? Again in the inner city?
Andrew: Yeah I think being in the inner city and having that green space is a real positive for this property and it does have that drawback of the scattered parking or shared parking but its got size, and not just the whole block size of 110sqm, but the individual bedrooms are a really big size.
We see a lot more people wanting to see the big bedrooms rather than more bedrooms. I think this place does a good job of presenting that. Then the outdoor area is a real bonus as well. So in an apartment you’re almost getting an extra room for those in Sydney 7 or 8 months of the year when you can be living outside. Any type of outdoor area we see as a big driver of engagement
Any time there’s a balcony a small garden or a courtyard we see a lot more interest from people looking at our properties.
Chris: I guess it all comes down to the competition, we were talking earlier about things like go get or even having a car stacker
Evan: The body corporate here could definitely, maybe not for this property, but could consider putting in a stacker. This way every property would be able to have the car park on total and that would definitely increase the rental yield making this property a lot more attractive to investors.
Chris: Again, looking at some of these other properties around the CBDs and then these bigger developments, quite often they have the bike racks and the motorcycles and even shared bikes you see... I notice up in Brisbane and places like that.
It is a different way of thinking. So I’ve always been very set on the parking but it’s a changing world isn’t it?
Andrew: I think if you’re getting the inner city areas, really tight inner city suburbs, a place like west end in Brisbane, any of the Perth CBDs, I think parking is becoming less of an issue. Particularly for those who live, work in the CBD and they do have access to Uber, Go Get and all those other ride sharing services as well as the good old taxi now and then.
Chris: I guess with the scattered parking as well you normally come home at about 3 in the afternoon say you pick up the kids that’s probably actually an advantage. Whereas if you’re an accountant or real estate agent working till 9 or 10 at night…
Evan: Usually there are status quo forms until a new tenant moves in and then it’s sort of up in the air again until everything settles down.
Chris: purchase or pass for you?
Evan: Pass for me
Andrew: I’ll be a contrarian, purchase for me.
Chris: Whilst scattered parking is better than no parking, I would rather wait and find something with a guaranteed space. Also the low yield gives a hint to me that someone maybe paid over the odds as they really wanted a garden apartment as they are rather unique and would pay any price and so I would pass.
To watch the interview in full, <a href="https://www.youtube.com/watch?v=0judzTYkULE" target="_blank">click here</a>.
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Purchase or Pass? The ins and outs of inner city parking with Chris Gray

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The WA state government has missed an opportunity to address the state's inefficient property tax system according to Warwick Hemsley, Chairman of QWest Paterson Valuers and Property Consultants. 
He said the state government has not addressed steeply rising marginal rates of stamp duty and land tax that continue to be a thorn in the property industry’s side adding many studies have shown that stamp duty is an inefficient tax that only targets a specific sector of the market.. 
“The added cost of stamp duty is a disincentive to downsize for seniors, a disincentive for workers to move homes if they want to be closer to their employment and is an added cost burden to people going through a divorce or separation that need to purchase a new home,” he said. 
“We understand that the government is experiencing a tight fiscal situation however we mustn’t underestimate the importance of having a vibrant city and invest in the future of Perth. 
“While significant money has been set aside in the budget for infrastructure including road and transport projects it is also important to invest in the arts and lifestyle infrastructure in order to retain and attract creative and smart people that add to the cultural fabric of our state.
“For example, initiatives such as MONA in Hobart has transformed visitation to that city and so too has the National ANZAC Centre in the regional WA town of Albany. 
“There is a well-documented payback on this type of investment. Confirmation of funding for the new museum complex in Perth is important.” 
“We live in a highly mobile world and we need to ensure our capital city is a vibrant and creative place. In today’s world, our best and brightest have many other options so we are competing with many other cities around the globe."
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WA state government fails to address property tax issues

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A Toorak trophy home has sold for an undisclosed price having been listed by Kay &amp; Burton South Yarra selling agents Grant Samuel and Michael Gibson with a $11 million price guide.
Last traded for $8.625 million in 2011, 8 Ottawa Road has three bedrooms, three bathrooms and a home office.
It has been bought by landscaper Jack Merlo from the Joel family.
The main bedroom is in its own wing and features a fitted dressing room, TV projector with retractable screen and ensuite with double shower.
Set on 1278 in landscaped gardens, the home has an indoor heated swimming pool with sauna and features a glass ceiling and windows which connect to the surrounding terraces and water feature.
Numerous living and dining areas are separate by a marble kitchen with a Japanese courtyard backdrop. 
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Toorak trophy home possibly fetches double digit sale

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The Gold Coast, Sunshine Coast, Ipswich, Caboolture, Caloundra and Noosa all have rental vacancy rates of less than two percent according to the REIQ March quarter Vacancy Rate Report.
Chief executive officer of the REIQ Antonia Mercorella said the Sunshine Coast has had tight conditions for more than four years and rental accommodation can be very challenging to find and believes the local market needs dwelling construction.
REIQ CEO Antonia Mercorella said the data showed that specific markets in southeast Queensland were crying out for greater investment and more housing construction, adding that negative gearing has contributed to rental affordability - benefitting one-third of Queenslanders who rent. 
“With the national debate focused on negative gearing it’s important to remember that negative gearing has been critical in maintaining a supply of investors to the market who provide rental accommodation, and this has also helped keep rent levels in check,” she said. 
"The tightest vacancy rate in Queensland is the Sunshine Coast Hinterland, with 0.9 percent, which includes towns such as Maleny, Nambour and Eumundi. Cairns has been the standout regional centre, with further tightening of the vacancy rate, from 2.5 percent down to 2.1 percent. 
“The Cairns property market is showing signs of consistent, solid improvement and this is a reflection of the broader economy which has rebounded well from the post-GFC woes. There are some great signs of recovery in Cairns, including significant levels of development already taking place.”
 
Brisbane's inner-city CBD recorded a drop from 3.1 percent to 3.0 percent. 
“The inner 5km ring is at 3.3 per cent and the middle ring is at 2.5 per cent – these levels continue to fall within what the REIQ considers the healthy range,” she said. 
“We are clearly not oversupplied – at this stage.”
 
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Sunshine Coast, Gold Coast rental market tight: REIQ

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Combined capital city weekly rents increased 0.1 percent in April but fell by 0.2 percent over the 12 months to April, according to CoreLogic RP Data. 
Rents in Sydney increased 1.4 percent, Melbourne 1.7 percent, Adelaide 0.5 percent, Hobart 1.1 percent and Canberra 2.5 percent however large falls in Perth and Darwin, 8.9 percent and 12.6 percent respectively pulled down the combined capital figure.
CoreLogic RP Data's April Rental Index said rental rates across the combined capital cities are recorded at $486 per week and they are 0.2 percent lower than they were a year ago.
<a href="/images/2016/05/12/Screen%20Shot%202016-05-12%20at%201.13.00%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/12/Screen%20Shot%202016-05-12%20at%201.13.00%20PM.png" alt="">
"CoreLogic have been tracking annual rental changes since 1996, with the annual change in capital city rents now tracking at the lowest level on record. 
"At the same time last year rental rates had increased by 1.7 percent which indicates that the slowdown in rental growth has been sharp over the past year. Factors contributing to the slowdown in rental growth include falling real wages, excess rental supply in certain areas and lower rates of population growth which have impacted on demand for rental accommodation. 
"With dwelling approvals having peaked at record highs and construction activity set to peak over the next 24 months accompanied by many new properties still to settle, it is anticipated that the weak rental market conditions will persist with rental growth continuing to slow and/or fall in most capital cities. Landlords will continue to have little to no scope to lift rental rates and may actually need to reduce rents in order to keep their tenants. Renters hold a stronger negotiation position and have the potential to upgrade into a higher grade of accommodation for a similar or potentially lower rental cost."
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Weekly rents continue to fall: CoreLogic RP Data

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The housing market in Coffs Harbour, far north New South Wales and Sydney is on the decline, according to valuation firm Herron Todd White.
HTW state east coast NSW is largely holding a steady trend in rental vacancy and the volume of house sales, but house sale volumes are beginning their fall in Sydney. 
New house construction is ramping up in Canberra.
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Coffs Harbour, Sydney houses in price decline: HTW

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The central NSW district of Narromine and Trangie have and a substantial increase in farmer to farmer sales due to what is described by HTW as good quality dry land cultivation country.
HTW cited the sale of Grainswood North as one such example. 
"This property is located 50 kilometres south-west of Narromine and is a 600 hectare open farming block with red brown and grey loam soils and sold under the hammer for just over $1.2 million," HTW said. 
"There were limited improvements and on an overall basis this equates to $2,042 per hectare or $826 per acre. The adjoining property Grainswood was also put to auction and was passed in however sold soon after at an undisclosed amount believed to be around the $1.5 million mark. This property is 826 hectares in size and at $1.5 million equates to approximately $1,815 per hectare overall.  
"This property included approximately 680 hectares of farming country with the balance open grazing. Both of these sales would be considered strong and indicate a strengthening of the underlying dry land cultivation values of approximately 15 percent over the past 12 to 18 months."
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Farmer to farmer sales solid in Narromine, Trangie: HTW

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Capital city rents had a 0.1 percent increase in April, according to the CoreLogic April monthly rent review.
According to CoreLogic RP Data five of the eight capital cities saw a modest rise in rents over the past twelve months, with Sydney up 1.4 percent, Melbourne 1.7 percent, Adelaide 0.5 percent, Hobart 1.1 percent and Canberra 2.5 percent
CoreLogic RP Data research analyst Cameron Kusher said a weakness in the rental market will persist over the year and rents will continue to fall over the coming months. 
"The annual change in rental rates continues to be at its slowest pace since before 1996," he said. 
“Factors contributing to a slowing in rental growth include falling real wages, excess rental supply in certain areas and lower rates of population growth - all of which have impacted on demand for rental accommodation. With dwelling approvals at recent record highs and construction activity set to peak over the next 24 months, accompanied by many new properties still to settle, we anticipate that the weak rental market  conditions will persist with rental growth continuing to slow and, or, fall in most capital cities.
“Based on current market conditions, landlords won’t be in a position to lift rental rates and may actually need to reduce rents in order to keep their tenants. We see renters as holding a stronger negotiation position and where they now have the potential to upgrade into higher grades of accommodation for a similar, or lower rents."
 
“At the same time last year, rental rates increased by 1.7 percent which indicates a sharp slowdown in rental growth over the past year.
"With rental rates increasing in some cities in April, rates in Sydney, Adelaide and Hobart are at record highs. In all remaining cities, rental rates are now below their highs with the declines recorded respectively in: -0.1 percent in Melbourne, -0.8 percent in Brisbane, -13.7 percent in Perth, -17.3 percent in Darwin and -5.4 percent in Canberra. "
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Sydney, Adelaide and Hobart April rents at record highs: CoreLogic RP Data

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The Real Property Amendment (Electronic Conveyancing) Act 2015 introduced a new section 12E into the Real Property Act 1900 which allows the Registrar General to make Conveyancing Rules. 
The Conveyancing Rules will largely parallel provisions in the Participation Rules for electronic conveyancing.
The Rules will align paper conveyancing practices and workflows with those developed for electronic conveyancing and will be implemented in stages.
Conveyancing Rules - Version 1 Version 1 of the Conveyancing Rules was published on the LPI website on 28 March 2016.
The rules in Version 1 standardise formal verification of identity and authority requirements across all conveyancing in New South Wales including:
• requirements for verification of identity
• requirements for verifying authority (right to deal)
• supporting evidence requirements
• provisions for certifications on paper transactions.
Verification of identity This rule applies to Australian legal practitioners, law practices and licensed conveyancers.
They must take reasonable steps to verify the identity of clients or their agents, and persons to whom certificates of title are given. The rule takes effect on 1 May 2016.
However, the Registrar General is allowing a transition period of three months with full compliance required from 1 August 2016 inclusive.
Authority (Right to Deal) This rule requires Australian legal practitioners, law practices and licensed conveyancers to take reasonable steps to verify that any client is a legal person and has the right to enter into a conveyancing transaction.
Similar requirements apply to mortgagees and representatives of a mortgagee. This rule takes effect on 1 May 2016.
However, the Registrar General is allowing a transition period of three months with full compliance required on and from 1 August 2016.
Supporting evidence From 1 August 2016, a party or their representative must retain the evidence supporting a dealing for at least seven years from the date of lodgment of the dealing.
Land and Property Information, a division of the Department of Finance, Services and Innovation, is officially registered in the Australian Business Register and for GST. Its ABN is 84 104 377 806. 
Certifications on paper dealings This rule applies to witnessing and execution of paper dealings.
 It replicates and continues unchanged the certification requirements that were previously set out in section 117 of the Real Property Act 1900 and Clause 22 of the Real Property Regulation 2014. 
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Property 101: National verification in property paper conveyancing

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

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