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Buying a first home can be in some ways, metaphorically, a honeymoon, and we are not talking here of just sentiment or the first-home buyer grant. 
There is also the 'honeymoon rate', which is basically a lower interest rate offered for a short time at the start of a home loan by the lender or bank to draw in borrowers. Usually, such a rate is for a period of 1 to 3 years. The lender will revert to the variable rate once the ‘honeymoon’ period ends.
A key benefit of the honeymoon rate is that it allows new borrowers to get used to a loan, according to a post by mortgage broker John Pellegrini in <a href="https://www.mortgagechoice.com.au/" target="_blank">www.mortgagechoice.com.au</a>. The lower interest rate makes it easier for them to meet the home loan repayments. Therefore, this type of loan can be very popular in some circumstances.
But while the honeymoon option sounds like a boon for first-home buyers, once the rate reverts to the more normal variable rate, a buyer may discover that it is not as competitive. 
Hence it is important to do your research and be aware of the interest rate the mortgage will revert to once the ‘honeymoon’ is over. Best to speak to lenders and compare the various rates before making that decision.
Depending on the home buyer’s circumstances, it might make more sense to opt for a home loan with a basic variable interest rate rather than a honeymoon rate, adds Pellegrini.  The choice should take into consideration longer term requirements to figure out which mortgage product will save money in the long run.
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Property 101: What is a 'honeymoon rate'? Home loan terms explained

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Sydney vacancy rates for January rose 0.1 percent for the Inner region to 1.9 percent, Outer Sydney up 0.4 percent to 2.3 percent and the middle region down 0.6 percent to 1.8 percent, according to REINSW.
The January 2016 REINSW Vacancy Rate Survey found combined Sydney properties for rent down 0.1 percent at 2.0 percent.
Hunter vacancy rates rose 0.7 per cent at 3.0 percent with Newcastle up 0.9 percent to 2.7 percent.
Albury fell 0.5 percent at 2.7 percent, Northern Rivers fell 0.2 percent at 0.7 percent and Riverina was down 0.3 percent at 3.7 per cent. Central Coast rose 0.3 percent to 2.8 percent, New England rose 0.3 percent to 3.6 percent and Mid North Coast rose 0.7 percent to 1.8 percent.
REINSW President John Cunningham said vacancy rates were expected to remain tight for much of 2016.
 
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Sydney rental accommodation remains tight: REINSW

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Melbourne recorded a preliminary auction clearance rate of 73.6 percent for the week ending 14 February from 440 reported auctions, according to CoreLogic RP Data.
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Melbourne's strongest performer was the Inner East, with a clearance rate of 81.4 per cent across 52 auctions. The Inner South, West and Mornington Peninsula all have a clearance rate above the 75 percent.
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Melbourne's Inner East leads auctions with 81.4 percent clearance rate: CoreLogic RP Data

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Sydney recorded a preliminary auction clearance rate of 78.6 percent for the week ending 14 February from 469 total auctions, according to CoreLogic RP Data.
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The North Sydney and Hornsby region was the strongest weekend performer with a 92.5 per cent preliminary clearance rate, the City and Inner South at 89.1 percent and the Eastern Suburbs  at 88.3 percent.
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North Sydney, Hornsby lead weekend auctions with 92.5 percent clearance rate: CoreLogic RP Data

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A property pun on Ashley Maddison shows you just how much you could save on your mortgage.
Launched just in time for Valentine's Day, the website <a href="https://www.bankleymadison.com.au" target="_blank">Bankley Madison</a>, pokes fun at banks and mortgage lenders who openly provide better rates and deals to the new customers, in effect cheating on their existing ones. 
Opening with "It's not a marriage, it's a mortgage, so have some fun", the website shows banking profiles with some subtle hints at a few recent banking news stories.
The creator, finance specialist Jayden Vecchio, said he is poking a bit of fun at the 'cheating backs' who give bigger and better discounts to new customers, leaving the old ones.
"The intention is to show how to get back at these cheating banks who offer better rates and deals to new customers, leaving existing customers paying more," he said.
 
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Valentines day parody pokes fun at mortgage lenders

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Angus Raine, the chairman at Raine &amp; Horne says it’s important to establish the rules of engagement from the beginning when it comes to a family-owned holiday home.
He says family members would do well to agree to an accommodation schedule for the holiday home from the outset, which diarises when the property is occupied and by whom.
"Some weeks are more valuable than others, such as Christmas and Easter, but by taking a common sense approach, it’s feasible to develop an accommodation schedule which is suitable to all parties."
He says cleaning is another issue that can cause disputes in a shared holiday home.
"From the outset, all parties should agree about how the property should be left after a vacation stint.
"Typically, to circumvent any concerns, all parties could agree to pay for a professional cleaner every time they exit the property.
"Dirty linen is a common bugbear of shared accommodation.
"I advise that occupants could take their own linen to the holiday home and remove it with them when they leave." 
He recommends a pact about how repairs and maintenance with one method is contributing to a sinking fund not unlike those used in strata arrangements.
"Breakages have the potential to cause familial schisms," he warns.
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Property 101: Shared holiday homes and family harmony 

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NewsLocal has launched a real estate portal geared towards Chinese-Australian audiences led by NewsCorp NSW real estate editor Tim McIntyre.
<a href="https://sydneypropertyexperts.com" target="_blank">SydneyPropertyExperts.com</a><a href="https://sydneypropertyexperts.com" target="_blank">,</a> written in both Chinese and English, covers market trends, new developments, suburb hotspots and foreign investment issues and is written by real estate experts Shayne Collier, Brendan Wong, Erin Forster and Alison Cheung. 
<img src="/images/2016/02/12/Screen%20Shot%202016-02-12%20at%202.02.08%20PM.png" alt="">
NewsLocal editor-in-chief Kathy Lipari said there is a gap in the market for expert real estate content and analysis tailored specifically to our Chinese-Australian audiences. 
"SydneyPropertyExperts.com utilises the expertise and resources of the NewsLocal real estate team to provide comprehensive information in both English and Chinese to Chinese real estate buyers," she said. 
NewsLocal general manager Michael Wilkins said SydneyPropertyExperts.com is a true cross-platform experience for our audiences.
"We have listened to the feedback from our readers and the real estate team and are excited to deliver this unique in-language product to the market,” he said. 
SydneyPropertyExperts.com will feature an investment section, featured properties, market reports, ask the experts, development and the latest news.
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NewsLocal targets Chinese community with new real estate website

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RBA Governor Glenn Stevens made his semi‑annual appearance before the House of Representatives Standing Committee on Economics today. 
Prepared opening remarks from the Governor were followed by a lengthy Q&amp;A session. 
Glenn Stevens gave his predictions for the Sydney and Melbourne property market.
He expects home prices “to take a bit of a breather for a while”.
Stevens says a slowdown in Sydney &amp; Melbourne prices would be “quite welcome.”
“I think we have seen prices fall in some parts of Sydney," he said.
As for housing oversupply, he believes that there may be oversupply in some pockets, but he has ruled out prospects for housing oversupply in Sydney.
Glenn Steven's opening statement can be read here.
 
 
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Glenn Stevens gives his 2016 predictions for Sydney and Melbourne property

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OPENING STATEMENT
Since the Committee's previous meeting in September, we have continued to see evidence that economic activity outside the resources sector has been gradually improving.
The pattern observed six months ago whereby business surveys were suggesting improving conditions by and large continued through to the end of the year.
Inevitably, this expansion is not uniform across the country or across industries. Areas that led the growth dynamic a few years ago are on the trailing edge now.
Conversely, some that were subdued for a few years are among those leading growth today.
But few, if any, expansions are completely even, either geographically or by industry.
Given the nature of the economic events through which we have been living, moreover, it is not surprising that there are differences.
The good thing is that there are strong areas to counteract the weak ones.
The available information suggests that real GDP is expanding at pace a bit lower than what we used to think of as normal.
Our estimate is that growth over the four quarters of 2015 was about 2½ per cent.
This continued expansion has occurred in the face of a very large contraction in capital spending in the mining sector, restrained public final spending and the reduction in national income coming from the declining terms of trade.
It has been helped by easy monetary policy and the lower exchange rate.
Notwithstanding below-average GDP growth, the demand for labour increased at an above average pace in 2015.
The number of people employed, as measured, increased by well over 2 per cent, participation in the labour force picked up and the rate of unemployment declined, to be below 6 per cent.
That is a noticeably better outcome than we expected a year ago.
This poses the obvious question of how, with apparently still somewhat below-trend GDP growth, the rate of unemployment has fallen. And whether the pattern will continue.
Of course, it may be that the labour force data overstate the strength.
Alternatively they may be telling us something not yet apparent in the GDP estimates. More data may shed light on this question over time.
Part of the reconciliation appears to be that growth has been concentrated somewhat in labour-intensive areas, like certain household and business services.
Another part of the reconciliation probably lies in the very modest pace of growth of labour costs.
At any given rate of unemployment, wages growth appears to have been lower than would have been expected based on historical relationships. In fact, at an economy-wide level, unit labour costs – that is, wages per unit of aggregate output – have not risen for four years. This has surely helped employment.
This same phenomenon is also important in understanding the behaviour of inflation, which has been quite low.
As measured by the Consumer Price Index, inflation was 1.7 per cent over 2015.
This was affected by falling prices for petrol and utilities, the latter in part due to government policy decisions.
But even the underlying measures, which remove or down‑weight such effects, at around 2 per cent, are low. Price rises for non-tradeable items are at their lowest for many years, and this reflects, among other things, the modest growth of labour costs.
In summary then, the economy is continuing to grow at a modest pace, in the face of considerable adjustment challenges. It has apparently been generating more employment growth and lower unemployment than we expected, while inflation has remained quite low.
Turning then to the rest of the world, there have been some key developments since we last met with the Committee.
In December, the United States Federal Reserve raised its policy interest rate for the first time in 9½ years.
The last time the Fed actually started an upward phase in rates was as far back as 2004.
The Fed's rationale for this change was that the US economy had sufficient strength that a zero interest rate was no longer needed – and, as such, it is a welcome development.
The change had been very well telegraphed and was absorbed by financial markets without any immediate disruption.
That said, US dollar funding costs are important to many financial strategies around the world and when they start to increase, however gradually, investors adjust their positions.
This had already been happening in anticipation of the Fed's decision, with funds seeking to lessen their exposures to emerging markets, high-yield debt instruments and so on.
These adjustments continued subsequent to the Fed announcement. For some emerging market economies, facing lower commodity export prices, things have become more challenging.
At the same time, some other major jurisdictions have sought to ease their monetary policies further.
Both the European Central Bank and the Bank of Japan have pushed rates on some deposits at the central bank below zero. In other words, policy trajectories among the major jurisdictions are diverging, which creates the potential for market movements, not least in exchange rates.
Meanwhile, the Chinese economy has become more of a concern for many observers.
It is not that the actual data on the Chinese economy are all that different from what we had been seeing.
They paint a picture of softness in growth – but they were already saying that some time ago.
The more recent anxiety is probably best described as greater uncertainty over the intentions of Chinese policymakers and over whether they will be able to carry off the economic transition China needs. This anxiety has been reflected in capital flows.
Commodity prices have generally fallen further over recent months. Most prominent was the further fall in crude oil prices to about US$30 per barrel.
While this level of oil prices is not especially low in a longer-run historical context, it is a large decline from prices prevailing in recent years and is bringing considerable adjustment.
Oil-producing companies and nations are seeing a decline in their incomes, and yields on debt issued by corporates in the energy sector have increased sharply.
Exploration expenditure and investment in new capacity is being rapidly curtailed.
Sovereign asset managers for some key oil producers are liquidating some assets to help manage the effects on fiscal positions.
As with most price changes, there are gainers as well as losers.
The fall in energy costs is a windfall to energy users and represents a terms of trade gain for countries that are net importers.
Importantly, it does not appear to be the case that the fall has predominantly been caused by weak demand for oil.
Indications are that oil demand has still been rising, albeit not as quickly as it had been.
Supply increases appear to have been more important than demand factors in explaining the large price fall, at least thus far. Hence, we should not interpret the decline in oil prices as uniformly negative.
On the contrary, a fall in oil prices resulting from additional supply has usually been seen clearly as a bonus for consumers and many businesses in advanced economies, including Australia.
In financial markets, as investors and traders have sought to make sense of all these conflicting currents, we have seen a period of volatility recently.
This has been apparent in equity and bond markets, as well as foreign exchange markets.
Equity markets are lower, yields for core sovereign obligations are lower, spreads for lower-rated corporates and emerging market sovereigns are wider.
Exchange rates have seen more variability, with currencies for many emerging market countries weaker.
The Australian dollar is around the same level now as when we last met with the Committee, though commodity prices are lower.
Looking ahead, forecasters expect a bit less growth in the global economy this year than they did a few months ago.
Expectations for Australia's trading partner group itself are for growth to be a bit below average, little changed from six months ago.
Inflationary pressures globally look quite subdued. Global interest rates will still be very low, even if short-term rates move up a bit further in the United States.
For Australia, the adjustment we have been experiencing for a couple of years now will most likely continue.
The terms of trade are still falling. The fall in mining investment spending will continue for at least one more year, though it is probably having its most significant effect on the rate of growth now.
Other areas of demand are expected to add to growth. The net effect of all this is likely to be continuing expansion at a moderate pace.
One key question will be whether the recent financial turbulence itself will have a material negative effect on aggregate demand – in Australia or abroad. I don't expect that we will be able to answer that question for a little while yet.
Another question is what the recent unexpected strength in the labour market means for the outlook.
If it turns out that the strength is just temporary, then the outlook is still for moderate growth, but no near-term acceleration.
If, on the other hand, recent trends were to continue, the income gains coming from higher employment may start to feed into stronger demand growth, which would probably lead in due course to higher levels of investment.
Alternatively, if demand growth were to be in areas that require relatively little capital to support the labour employed, then the apparent weakness in capital spending outside mining could be of less concern anyway.
As usual, there are many questions regarding both our current circumstances and the outlook.
At its recent meetings, the Reserve Bank Board has kept the stance of policy unchanged, with the cash rate at 2.0 per cent.
We will be examining new information over the months ahead as we try to discern the answers to these and other questions.
With inflation unlikely to cause a problem by being too high over the next year or two, the statement after the recent meeting indicated that the Board retains the flexibility to ease further, should that be helpful.
Glenn Stevens talked about Sydney and Melbourne prices in our next story here.
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Inflation unlikely to cause a problem: RBA governor Glenn Stevens opening statement

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Over the three months to September 2015, 10.2 per cent of Canberra homes re-sold at a loss compared to 10.9% over the previous quarter and 11.4 per cent a year earlier, according to CoreLogic RP Data's latest Pain &amp; Gain report.
The typical loss was $20,000. It is tipped that most declines were apartments.
The latest data showed prices in the national capital up 2.8 per cent in January pushing it to 6 per cent annual growth. It has a $585,000 median dwelling value.
Tim Lawless, CoreLogic RP Data’s head of research, said in December that the Canberra housing market had been showing tentative signs of growing values, adsding that market conditions have been more volatile from month to month.
The nation’s capital has significant differences in predicted value performance of Canberra’s houses and units.
While houses were up 4.5% over 2015 apartments fell 0.8%.
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Catherine Smith, practice manager of Canberra property investment advisory firm Wholistic Financial Solutions, warns that the city could be “fast heading towards an oversupply of units”.
Among the many apartment blocks under construction is the Wayfarer at Belconnen, which at 88 metres will be Canberra’s tallest residential tower when completed by year's end. 
"If development continues at this rate I wouldn't be surprised to see Canberra listed as the most oversupplied state or territory in Australia," Smith told the mywealth website. 
CoreLogic RP Data reported the city’s gross unit rental yield was 5.2% – equal to Hobart and Darwin and second only to Brisbane.
Construction is due to commence this year on what will be the largest-scale public transport infrastructure project Canberra has ever seen – the $783m Capital Metro.
Starting from Gungahlin in the city’s north, the 12km light rail track will run south along Flemington Road, Federal Highway and Northbourne Avenue to Civic (city centre) and possibly onwards to Russell (as part of a proposed future extension), with stops at the suburbs of Harrison, Franklin, Downer and Braddon and major stations proposed for Gungahlin, Dickson and Alinga Street.
Example of small losses being taken recently include a three bedroom in Lyneham which went from $604,900 to $585,000 in five years and a two bedroom in Braddon which dropped from $540,000 to $500,000 in just nine months.
A property in Kingston traded for $740,000 in 2013 and sold for the same price last year.
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10% of Canberra dwellings selling at a loss: CoreLogic Pain & Gain

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

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

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

Dalcott targets owner-occupiers with South Brisbane debut Marrone

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

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

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

ODUS releases $18 million penthouse crowning La Mer Main Beach

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

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