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SPONSORED POST
Australian property developer and hotelier TOGA has unveiled its latest bespoke display apartment to an exclusive audience in Macquarie Park.
Hundreds attended the appointment-only weekend unveiling with potential buyers vying to be among the first to view the highly-anticipated One Twenty Macquarie apartment designs.
One Twenty Macquarie’s display apartment showcases a fully-appointed and furnished two bedroom, two bathroom apartment; a replica approximately 82sqm floor plan featuring available finishes, accurate ceiling heights and apartment upgrade options.  
<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/2016/02/12/15122420-2012020Herring20Rd20-20V0220-20Superman20-20Final202000.jpg" alt="" width="1260" height="630">
The $160-million Turner architects-designed development is set to begin sales in early-March.
At 23-storeys, One Twenty Macquarie is set to be Macquarie Park’s tallest tower and will feature 196 luxury apartments, premium amenities including a gymnasium, a theatrette, landscaped gardens, barbecue facilities, parking and a stylish retail café at its ground level.  
The full-service project gallery with complete to-scale display apartment opened to the general public this week.
TOGA Development and Construction Chief Executive Fabrizio Perilli said One Twenty Macquarie offered a unique opportunity to buyers. 
“This interactive display apartment demonstrates the attention to detail and residential functionality inherent in the One Twenty Macquarie apartment designs,” Mr Perilli said.
“From the tonal stone bench tops to the timber flooring and high-end joinery, One Twenty Macquarie integrates timeless features and modern finishes to create sophisticated living spaces.
Purchasers can expect TOGA’s renowned quality and design excellence upheld by over 50 years’ experience designing, building and delivering rewarding residential experiences,” Mr Perilli said.
Buyers will have the opportunity to choose between two finishes on display; Arcus or Opacus - understated dark or light palettes featuring softly-layered earthy tones.
Visitors to the display apartment can also inspect a large architectural model revealing One Twenty Macquarie from the vantage of 360 degrees as well as interactive digital perspectives of the apartment views and floor plans displayed on Samsung tablet devices.
TOGA General Manager of Sales and Leasing Alex Adams said the opening of One Twenty Macquarie’s showroom provided buyers the chance to step inside one of TOGA’s high-quality apartment designs.
One Twenty Macquarie features a range of apartment types including one-bedroom, one-bedroom-plus-study, two bedroom, three-bedroom apartments and top-floor penthouses.
“The display apartment showcases One Twenty Macquarie’s refined interior designs and allows buyers to explore the spectacular views on offer,” Mr Adams said. 
“The space is designed to offer our clients the opportunity to thoroughly investigate One Twenty Macquarie’s floor plans in a relaxed and authentic environment,” Mr Adams said.
“One Twenty Macquarie is all about location and lifestyle,” Mr Adams added. 
On arrival, guests are greeted by a concierge and assigned to one of TOGA’s in-house project specialists.
The interiors by Turnerdemonstrate an exceptional use of space, harmonious transitions between living spaces and European-inspired styling complete with luxury finishes and appliances.
All One Twenty Macquarie apartments are fitted with first-class Miele appliances.
Apartments boast generous balconies capturing sweeping views to Sydney CBD, North Sydney, Chatswood and Homebush as well as views overlooking Lane Cove National Park
Located at 120 Herring Road, One Twenty Macquarie is positioned 16 kilometres from Sydney CBD and 450 metres from Macquarie University, Macquarie Shopping Centre and Macquarie University railway station.
Visitor parking at the project gallery is readily available free of charge.
Construction of One Twenty Macquarie is expected to complete in late-2018. TOGA is now accepting expressions of interest ahead of One Twenty Macquarie’s March sales launch.
TOGA’s One Twenty Macquarie’s project gallery can be viewed by appointment only and is located at: G03/13-15 Lyon Park Road MACQUARIE PARK NSW 2113.
For more information <a href="https://www.onetwentymacquarie.com.au" target="_blank">click here</a>.
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TOGA unveils One Twenty Macquarie display apartment ahead of launch

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CoreLogic RP Data analysis shows rents across the combined capitals rose by 0.2% in January 2016.
 
Across individual capital cities, rents rose over the month in Sydney, Melbourne, Adelaide, Hobart and Canberra while they fell elsewhere. 
 
Dwelling rental rates across the combined capital cities are recorded at $443 per week and they are unchanged over the past year.
 
CoreLogic RP Data have been tracking annual rental changes since 1996 and over that time rental growth conditions have never been weaker.
 
At the same time last year rental rates had increased by 1.7% highlighting that the slowdown in rental conditions has been sharp over the year.
 
"As highlighted in previous reports, heightened construction activity, slowing population growth, higher than normal investment activity and stagnant wage growth are key contributors to unchanged rental rates over the past year," Cameron Kusher at CoreLogic RP Data said.
 
"More rental stock at a time when demand is easing due to slowing population growth and little wage growth for renters has resulted in flat rental conditions over the past year.
 
"For renters there are a lot more accommodation options in the market while landlords are having to respond to a more competitive environment which, in many cases means keeping rents steady to keep the tenants. 
 
Looking across the individual capital cities, over the past year, rents have increased in Sydney (+1.4%), Melbourne (+2.1%), Hobart (+0.1%) and Canberra (+1.8%).
 
Rental rates have fallen over the past year in Brisbane (-0.7%), Adelaide (-0.4%), Perth (-8.6%) and Darwin (-13.4%).
 
Across every capital city except Canberra the rate of annual rental growth or decline is currently lower than it was a year ago indicating that the weaker rental market conditions are prevalent across most capital cities.
 
<a href="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%208.42.21%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%208.42.21%20AM.png" alt=""> 
Combined capital city house rents were recorded at $487 per week in January 2016 and unit rents were $465 per week. Over the past month, house rents rose by 0.1% while unit rents rose 0.2% and over the past three months house rents rose 0.1% compared to a 0.5% rise in unit rents. 
The data indicates that demand for unit product, while still quite weak, is holding up better than rental demand for houses, despite the increase in new apartment supply. Over the past year, house rents are -0.3% lower while unit rents have increased by 1.5%. It is important to note that a much higher proportion of total unit stock is rented compared to housing stock. 
For as long as CoreLogic RP Data have been tracking rental growth figures, house rents have never before fallen on an annual basis while annual unit rental growth is occurring at its slowest pace since late 2003. 
The additional accommodation being provided by the current building boom along with recent record high levels of investment purchasing is adding substantial new dwelling supply to the market at a time when the rate of population growth is slowing from quarter to quarter.
Furthermore, wages are increasing at their slowest pace on record which indicates that many renters simply don’t have the means to pay more for their accommodation. Additionally, it is arguable that landlords havent had much incentive to push yields higher due to the low cost of debt and strong capital gains. All of these factors combined are continuing to ease rental market pressures and resulting in the weakest rental market on record. 
We expect that rental market conditions are likely to remain weak, potentially softening further over the coming months. In fact there is a possibility that rental rates may start to fall on an annual basis. While this is great news for renters, investors are facing the prospect of weaker capital gains coupled with falling rents which would push down their yields.
The large pipeline of residential construction activity and recent high levels of investment demand means that renters are likely to continue to have plenty of choice when looking to renew their lease.
<a href="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2012.39.05%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2012.39.05%20PM.png" alt="">
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<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2012.41.15%20PM.png" alt="" width="810" height="331">
Capital city rents are increasing at their slowest annual pace on record and with value rises outpacing rental growth, rental yields are also sitting close to record low levels currently. At a combined capital city level, gross rental yields were recorded at 3.4% for houses in January 2016 and at 4.3% for units. Combined capital city house and unit rental yields are currently both at record lows.
A year ago, gross rental yields were recorded at 3.6% for houses and 4.5% for units across the combined capitals. With a sluggish rental market in which interest rates may fall even further, we may see a further compression of yields over the coming months however, this will be somewhat dependent on growth in home values as well as the direction of rental rates. This means that capital growth, which is slowing, is likely to remain a much more important factor for property investors.
<a href="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2012.43.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2012.43.28%20PM.png" alt="" width="823" height="688">
 
Rental yields are lowest for houses in Melbourne (2.9%) and highest in Darwin (5.3%). Unit yields are lowest in Melbourne at 4.0% and highest in Hobart at 5.3%. Sydney and Canberra house yields are currently at record low levels while Sydney and Melbourne unit yields are also at historic low levels. 
Across every capital city, house rental yields are lower now than they were at the same time last year. This is reflective of lower rental growth relative to house value growth. 
The unit market shows similar trends to the detached housing market. Yields are higher than a year ago in Adelaide and Canberra while elsewhere yields have softened over the past year. The generally softer yields point to market conditions in which unit value growth has generally outpaced unit rental growth.
<a href="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2012.45.39%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2012.45.39%20PM.png" alt="">
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Darwin sees sharp slowdown in rental conditions: CoreLogic RP Data January rent review

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The decision to work from home can be a big one. However, there are a range of ways you can do it, and some might feel more suitable than others. Which of these might work for you?
Working from home full-time, own business
In this scenario, your home business is your one source of income. This choice requires you to have a highly proactive attitude, as you’ll need to source your own clients, do all the work and manage your earnings.
This is a great set-up for those individuals who crave flexibility and autonomy. For example, you might have children or ageing parents who require some of your time and attention. Or maybe you’re a budding millennial entrepreneur for whom the freedom of freelancing has become the rule rather than the exception. Or you’re a seasoned professional who now wants to do things your way instead of someone else’s. Whatever the case may be, when you’re your own boss, you have the independence and ability to create your own hours, schedule and overall business to suit your lifestyle.
Working from home part-time as a freelancer
In this case, you’re spending part of your work life in an office setting and the other part freelancing from home. This is a good option for those looking to hedge their bets: you have not only the security of guaranteed wages but also the opportunity to use your skills further and substantially supplement your income through freelancing. The variety that comes with maintaining dual careers might also hold some appeal.
Like working from home full time, this option still allows for some flexibility. Often, this route appeals to mums or dads needing to juggle working, childcare needs and the errands and appointments of day-to-day life. It might also tempt those who like the idea of full time freelancing or running their own business, but are nervous that they can’t yet make enough money at it. Or they might be reluctant to completely give up the social aspects of an office environment. This way, they can dip their toe in the work-from-home waters by first freelancing on a part-time basis.
Work-from-home arrangement with employer
A different kind of work-from-home arrangement might be one you make with an existing employer – to work from home as part of your employment conditions.
This option gives you the security of a part-time or full-time salaried job along with the flexibility afforded by working from home for a portion of your work week. It can free up time to do school drop-offs or pick-ups or squeeze in that yoga class in the morning, or it can simply give you more time to work, as you’re eliminating travel time.
It also gives you the opportunity to really knuckle down without the usual distractions of the workplace, like noise, interruptions and meetings.
Pursuing a passion project
Perhaps you’re more interested in pursuing a passion than a pay cheque. Maybe you’ve had a novel kicking around in your head for years and you’re now ready to commit it to screen or page. Or maybe you’re an artist who’s always wanted a studio where you can paint or draw.
This fun fantasy has broad appeal too. It’s ideal for retirees who may want to work on a project to keep busy in their post-professional lives – and possibly augment their income. As more mature-age Australians familiarise themselves with modern technology and become more internet savvy, there’s nothing stopping them.
Stay-at-home parents, who may have a little more time on their hands when their kids reach school age, might also try this workspace dream on for size. In fact, this option could suit anyone who wants a home workspace to tackle a creative venture in whatever spare time they can find.
For more information on work and lifestyle from NAB, <a href="https://yourguide.nab.com.au" target="_blank">click here</a>.
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Property 101: Working from home and how to make it work

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ASIC has released a consultation paper proposing to remake eight class orders that are due to expire (‘sunset’) between 2016 and 2018.
The class orders relate to property, strata and management rights schemes. The class orders proposed to be remade are:
<ul>
<li>Class Order [CO 99/463] Serviced strata scheme valuations, which sunsets on 1 April 2018;</li>
<li>Class Order [CO 02/185] Sale of strata units for $500,000 or more, which sunsets on 1 April 2018;</li>
<li>Class Order [CO 02/245] Closed schemes, which sunsets on 1 April 2017;</li>
<li>Class Order [CO 02/303] Management rights schemes—amendment, which sunsets on 1 October 2017;</li>
<li>Class Orders [CO 02/304] Management rights schemes and [CO 02/305] Management rights schemes, which sunset on 1 October 2016;</li>
<li>Class Order [CO 07/189] Management rights schemes where the strata unit cannot be used as a residence, which sunsets on 1 October 2017; and</li>
<li>Class Order [CO 02/182] Real property rental schemes which sunsets 1 October 2017.</li>
</ul>
ASIC also proposes repealing Class Order [CO 02/183] Small property syndicates on the basis that it appears that there is no longer significant reliance on this class order. If this appears to be the case after ASIC has considered submissions, the relief provided by the class order can be dealt with on a case by case basis.
ASIC proposes remaking the eight class orders by consolidating seven of them into a single instrument to be known as ASIC Corporations (Serviced Apartment and Like Schemes) Instrument 2016/XX so that the substantive effect of the relief in each class order is continued beyond the expiration date in a new legislative instrument. Class Order [02/182] Real Property Rental Schemes which will be known as ASIC Corporations (Property Rental Schemes) will remain as a stand-alone instrument. Our preliminary position is that only minor and technical changes be made to the terms of the relief to remake the remaining class orders as, in our view, they are operating effectively and efficiently and continue to form a necessary and useful part of the legislative framework.
Consultation Paper 250 Remaking ASIC class orders on property, strata and management rights schemes (CP 250) outlines the class orders to be remade and our rationale for remaking them.
Each class order has been redrafted using ASIC’s current style and format, while preserving the current effect of the instruments. The draft ASIC instruments, which reflect the minor amendments proposed in the consultation paper, are available on the ASIC <a href="https://www.asic.gov.au/cp" target="_blank">website here</a>.
Submissions on CP 250 are due by 8 March 2016.
<h2>Background</h2>
Under the Legislative Instruments Act 2003, all class orders are repealed automatically or ‘sunset’ after a specified period of time (mostly 10 years) unless we take action to exempt or preserve them. This ensures that legislative instruments like class orders are kept up to date and only remain in force while they are fit for purpose and relevant.
Where an instrument is deemed to no longer serve a regulatory purpose we will consult on repealing it. We will repeal instruments rather than allow them to sunset so that industry is certain of our intentions and confident that where instruments are removed, this was our intention.
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Property 101: ASIC consults on 'sunsetting' property and management class orders

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With university offers finalised, tertiary students across NSW have commenced the urgent quest for accommodation for the 2016 academic year, which will put the squeeze on already tight rental vacancy rates across NSW.
Gerard Hill, of Raine &amp; Horne Newtown, said the rental market in Sydney’s Inner West, which is home to Sydney University, the University of Technology, and the Royal Prince Alfred Hospital (RPA), a major teaching hospital, remains tight with vacancy rates well under 1%.
“We currently have six properties out of 1100 available for rent, with as many as 43 parties at inspections.”
“We expect vacancy rates will be squeezed further as new and existing university students flood the rental market in February.
“Therefore the best advice is to get in now before the bulk of students start to make their presence felt at open for inspections in suburbs closest to the universities such as Newtown, Darlington and Erskinville.”
Underlining the fierce rivalry for rental properties in Sydney’s Eastern Suburbs, Terry Brandtman, Principal of Raine &amp; Horne Randwick, says there were 30% fewer properties available for rent in early January than at the end of spring 2015. 
“Two-bedroom apartments in Clovelly, Coogee and Randwick rent for between $550 and $750 a week depending on the age of the stock, which compares very favourably to apartments in the newer developments in Waterloo, Alexandria and Mascot, where weekly prices can be closer to $850,” said Mr Brandtman.
“Many rental properties are tightly-held, as existing tenants don’t want to leave for fear of paying more.
“However at this time of year there is usually some attrition with some people shifting outside the region and others looking to move to the area,” Mr Brandtman added.
Rental accommodation is also tight in NSW’s second biggest city, Newcastle, with virtually nothing available within walking distance of the CBD.
“Anything in inner city Newcastle is being snapped up almost immediately,” said Jason Maxwell, Principal of Raine &amp; Horne Newcastle. 
A one bedroom apartment within a 1 minute walk of the Newcastle CBD, at 408/21 Newcomen Street, Newcastle[i], hit the market on Thursday last week, and had been leased by Monday for $400 a week.
Demand for student accommodation in Newcastle remains robust, despite the University of Newcastle’s decision to develop additional on-campus housing in recent years.
“We are seeing more students returning to the private rental market this year due to cheaper room costs and a desire for more privacy,” said Mr Maxwell. Rooms in student share-house accommodation in Newcastle start from $90 a week.
Angus Raine, Executive Chairman of Raine &amp; Horne, said a combination of persistence, punctuality and presentation will be critical in helping rental market contenders into a home. 
“There’s no escaping the fact you have to wear out some shoe leather and inspect as many rental homes as you can,” said Mr Raine.
“Treat a meeting with a property manager like a job interview – smart casual attire including polished shoes rather than shorts and thongs won’t hurt your rental chances either. 
“It wouldn’t be a bad idea to consider taking mum and dad along to inspections. It might sound cheesy for some, but it often works.
“Even getting parents to countersign a lease agreement can help as this makes them jointly responsible for the lease,” said Mr Raine.
Angus Raine’s tips for beating the rental squeeze in 2016 
<ol>
<li>Treat appointments with property managers like a job interview.</li>
<li>Be punctual and present professionally.</li>
<li>For younger people, it helps if mum and dad are with you at appointments and/or they can offer a rental guarantee.</li>
<li>References from employers, university lecturers, school teachers, a family doctor or solicitor – and especially past property managers or landlords – are essential.</li>
<li>Take along paper work such as your motor vehicle licence and/or passport, bank statements and so on.</li>
<li>If you’re offered a property, take it immediately or you could miss out.</li>
</ol>
 
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University students put squeeze on already tight NSW rental vacancy rates

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Some 265 auctions were held across Sydney for the week ending 7 February 2016, according to CoreLogic RP Data, with a preliminary clearance rate of 70.2 percent.
 Standout regions are the Inner South West (21 auctions with an 85.7 percent clearance rate) and North Sydney and Hornsby, with a clearance rate of 80 per cent across 35 auctions.
<a href="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2010.11.14%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2010.11.14%20PM.png" alt="">
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North Sydney, Hornsby net clearance rate of 80 percent: CoreLogic RP Data

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Underquoting laws start from 1 January 2016. They apply to all residential properties for sale on or after 1 January 2016.
An agent is underquoting the selling price of a property if they make or publish a statement about its price that is less than their reasonable estimate of the property’s likely selling price that is contained in the agency agreement.
This is an offence under the Property, Stock and Business Agents Act 2002 (the Act). Agents face fines of up to $22,000 for failing to comply with the law. Agents may also lose their commission and fees earned from the sale of an underquoted property. These commissions and fee payments will go towards the Property Services Compensation Fund, which supports consumers who have experienced financial loss as a result of property agent misconduct.  
Know your responsibilities – read the Underquoting guidelines
Agents should make sure they are carrying out their new obligations by downloading Fair Trading’s <a href="https://www.fairtrading.nsw.gov.au/biz_res/ftweb/pdfs/About_us/Publications/Underquoting_guidelines_for_residential_property.pdf" target="_blank">Underquoting guidelines for residential property</a>.
<h1 class="bodyheading">Key requirements </h1>
An agent should never state or publish an estimated selling price that is less than what is in the agency agreement.
An estimated price communicated to sellers and potential buyers must represent what an agent reasonably believes a property is likely to sell for. An agent and seller can choosenot to publish or make any statement about the likely selling price of the property. However, if they do publish or make any statements about price, they must comply with the new requirements.
As an agent, you must:
<ul>
<li>
include your reasonable estimate of a property's likely selling price in the agency agreement (also called the sales agreement)</li>
<li>
provide evidence to the seller of how you estimated the selling price</li>
<li>
ensure the highest price in a price range does not exceed the lower price by more than 10% (for example, $500,000-$550,000)</li>
<li>
record in writing statements made about the price while a property is marketed</li>
<li>
ensure your estimated selling price remains reasonable by:</li>
<li>
revising it as soon as you know (or should be aware) of evidence or circumstances that changes it
</li>
<li>
notifying the seller of the revised price
</li>
<li>
amending the agency agreement with the revised estimate
</li>
<li>take all reasonable steps as soon as is practical to update any marketing of the property with the revised estimated selling price.</li>
</ul>
You must not:
<ul>
<li>
provide any price estimate less than what you have reasonably estimated that a property is worth (as recorded in the agency agreement with the seller) - this applies to advertising the property or in any communication with prospective buyers about the property's likely selling price</li>
<li>
use any statements such as "offers above" or "offers over" an amount, or "plus" a particular price (for example, $500,000+), which could underquote or obscure a property's estimated value.</li>
</ul>
 
<h1 class="bodyheading">Questions and answers about underquoting </h1>
<h1 class="bodyheading">Do the laws apply to properties sold before 1 January 2016? </h1>
No. The underquoting requirements apply to all residential properties for sale on 1 January 2016 and into the future. However, if you have already entered into an agency agreement with a seller before 1 January 2016 and the agreement is still operating, then you will not have to comply with the requirement to update your estimated selling price, however you may wish to do this as a matter of good practice.
You must still comply with all other requirements for advertising and making statements about your estimated selling price as it currently appears in the agency agreement, as well as all the new record keeping requirements. That means that if you have properties advertised for sale at a price that is less than the estimated selling price in your agency agreement, then you must take all reasonable steps, as soon as is practical, to change or withdraw those advertisements. This includes flyers and any other printed material and all online material.
All agency agreements entered into on or after 1 January 2016 must comply with all the new requirements.
<a class="gotop" href="https://www.fairtrading.nsw.gov.au/ftw/Property_agents_and_managers/Agency_responsibilities/Underquoting.page#top">I used to advertise ‘offers over $890K’ for a property when my estimated selling price was $900,000-$990,000. Can’t I do this?  </a>
No. Statements such as ‘offers over $890K’ and other statements like ‘offers above’ or ‘$890K plus’ do not provide buyers with enough information to determine whether the property is within their price range. At worst, such statements can mislead buyers by indicating that a property could likely sell for the minimum offer advertised when the property will likely sell for much higher.
Remember that from 1 January 2016, you must not:
<ul>
<li>do any advertising that includes such references (for example ‘offers above $900,000’, ‘offers over $900,000’ or ‘$900,000+’)</li>
<li>indicate a selling price that is any lower than the reasonable estimated selling price as recorded in the agency agreement.</li>
</ul>
The requirements make sure consumers don’t waste money and time on property inspections by banning any price information that underquotes an agent’s estimated selling price.
<a class="aname" name="The_seller_wants_me_to_advertise_a_lower_price_than_the_estimated_selling_price_to_attract_market_interest._What_should_I_do?" href=""></a>
<h2>The seller wants me to advertise a lower price than the estimated selling price to attract market interest. What should I do? </h2>
You should make sure that the seller is aware of your legal obligations to never indicate a selling price lower than your estimated selling price. Your role is to get the seller the highest possible price for the property through fair, effective marketing and enabling competition between buyers for whom the property is likely to be affordable.  
You may wish to direct the seller you represent to the Fair Trading website or supply them with Fair Trading information on the underquoting reforms. This should help them to understand the purpose of the underquoting laws and the consequences if you illegally underquote a property.
You must also take the time to explain how you arrived at the estimated selling price for their property and provide evidence for why this is a reasonable estimate of the likely selling price.
<a class="aname" name="What_if_the_seller_wants_more_than_I_think_is_the_estimated_selling_price?" href=""></a>
<h2>What if the seller wants more than I think is the estimated selling price? </h2>
If the seller wants to sell the property for more than your estimated selling price, you may choose to:
<ul>
<li>advertise at a higher price that meets the seller’s instructions. or</li>
<li>decide not to disclose any price.</li>
</ul>
As long as you do not advertise or disclose any price that is less than the estimated selling price in the agency agreement, then underquoting has not occurred.
You should also let the seller know that the following pricing statements may be considered false or misleading under the Australian Consumer Law:
<ul>
<li>quoting the estimated selling price where the seller has advised that they will only sell for a higher price or</li>
<li>advertising a property at a price that is less than a previously rejected offer (unless the seller is now prepared to accept a lower offer).</li>
</ul>
<a class="aname" name="Why_does_the_estimated_selling_price_need_to_be_up-to-date?_" href=""></a>
<h2>Why does the estimated selling price need to be up-to-date?  </h2>
The laws recognise the dynamic market forces in the real estate sector and require agents to review and amend their estimate in line with market feedback and other relevant factors impacting a property's likely selling price.
Agents must not continue to market a property at an estimated selling price that they know, or should know, is no longer a reasonable estimate. Agents must: notify the seller if they revise their estimated selling price, provide evidence of the reasonableness of the revised estimate, amend the agency agreement (the seller’s consent is not required to do this) and take all reasonable steps to update their marketing materials as soon as is practical.
<a class="gotop" href="https://www.fairtrading.nsw.gov.au/ftw/Property_agents_and_managers/Agency_responsibilities/Underquoting.page#top" style="line-height: 1.3em;">What should I consider a reliable offer, and when should it influence the estimated selling price?  </a>
You should request all offers in writing. If you consider that any offer or offers received changes the likely selling price of the property, you should revise your estimated selling price. Be sure to amend the agency agreement and advise the seller in writing, providing them with the evidence of the reasonableness of your revised price estimate.  
The local newspaper has gone to print with my previous estimated selling price. Am I breaching the laws? <a class="gotop" href="https://www.fairtrading.nsw.gov.au/ftw/Property_agents_and_managers/Agency_responsibilities/Underquoting.page#top"></a>
Certain updates may not be possible but you must be able to demonstrate that you have made reasonable attempts to update any marketing material that no longer shows your reasonable estimated selling price.
It may not be practical to retract published newspaper advertising. However, if you have the opportunity to update price information before it is printed, or can update any online marketing for the property, you must do so as soon as is practical.
<a class="aname" name="How_can_I_market_multi-unit_residential_property_or_multi-lot_residential_subdivisions?" href=""></a>
<h2>How can I market multi-unit residential property or multi-lot residential subdivisions? </h2>
If you give any price indication about the properties’ likely selling prices, any advertising you do must include the following: the estimated selling prices for the lowest and highest priced properties in each category of unit (eg. studio, one bedroom, two bedroom etc.).
Advertisements for multi-unit property marketed collectively can do this in two ways:
<ul>
<li>giving the price ranges for each category, with the low end of the range being the estimated selling price of the lowest priced unit in the category and the higher end of the range being the most expensive property in that category. For example: one bedroom units available - price range: $550K-$700K. In this example, $550K represents the estimated selling price of the lowest priced one bedroom unit and $700K is the estimated selling price of the highest priced one-bedroom unit. This would need to be done for each category.  or </li>
<li>stating the estimated selling price in the agency agreement of the lowest and highest priced units for each property category (instead of using the ‘range method’ above). For example: one bedroom units available - the lowest priced unit is $550K, the highest priced unit is $700K; two bedroom units available - the lowest priced unit is $700K, the highest priced unit is $900K.</li>
</ul>
Note that the range advertising method described above is for properties being marketed collectively. Therefore, it does not breach the requirement related to estimated selling prices expressed as a range, which is for single properties.
Multi-lot subdivisions would need to include the lowest priced lot and the highest priced lot.
Any collective marketing of residential units/lots that includes a price indication should also advise prospective buyers that there are multiple properties within each category, of varying prices within that range.
To avoid underquoting, all advertising and marketing must be updated to reflect the value of the new lowest price unit/lot available when:
<ul>
<li>the lowest priced unit/lot is sold  or</li>
<li>the last of the lowest priced units in the price range for a particular category is sold.</li>
</ul>
Be aware that some previous practices are now illegal, such as a billboard promoting off-the-plan residential property that states: 'From $400,000'.
Also, it would be against the law to promote a range such as 'property available from $400K-$2.2M'. This does not give a meaningful indication of the price ranges for each category of residential units/lots being collectively marketed.     
<a class="aname" name="Can_I_choose_not_to_reveal_a_price_when_collectively_marketing_multi-unit_residential_property_or_multi-lot_subdivisions?_" href=""></a>
<h2>Can I choose not to reveal a price when collectively marketing multi-unit residential property or multi-lot subdivisions?  </h2>
Yes. Potential buyers can simply be advised to contact the agent for further information. Remember that agents cannot give any price indication (verbal, written or advertised) for a property that is LESS than that specific property’s evidence-based estimated selling price.
<a class="aname" name="How_should_I_record_estimated_selling_prices_for_multi-unit_property_and_multi-lot_subdivisions?_" href=""></a>
<h2>How should I record estimated selling prices for multi-unit property and multi-lot subdivisions?  </h2>
Attached to the agency agreement, the agent may include a schedule of the lots with their individual prices, or properties available with their features (primarily bedroom numbers) and a price for each. Any prices included in the schedule cannot be less than the estimated selling price for each unit/lot.
<a class="aname" name="What_if_I_am_unfairly_accused_of_underquoting?" href=""></a>
<h2>What if I am unfairly accused of underquoting? </h2>
To help consumers understand what underquoting is, you can direct them to the <a href="https://www.fairtrading.nsw.gov.au/ftw/About_us/Legislation/Changes_to_legislation/Underquoting_reforms.page" target="_blank">Underquoting reforms</a> web page on the Fair Trading website. This will give them an overview of the new laws and point them to the information relevant to them.
Consumers can also speak to a Fair Trading officer on 13 32 20.
If you have complied with all the requirements expected of agents under the Act, then you will not be at risk of breaching the underquoting laws.
<a class="aname" name="What_will_happen_if_Fair_Trading_determines_that_I_have_underquoted?_" href=""></a>
<h2>What will happen if Fair Trading determines that I have underquoted?  </h2>
Fair Trading can issue you with a penalty infringement notice of $2,200. Depending on the circumstances it could also be grounds for Fair Trading to take further disciplinary action on your licence. If the matter is prosecuted and you are found guilty of underquoting, you will pay a fine of up to $22,000. You may also lose the full commission and any fees for the property or properties you have underquoted.  
<a class="aname" name="What_about_when_I_talk_to_a_potential_purchaser_on_the_phone_or_at_an_open_house?" href=""></a>
<h2>What about when I talk to a potential purchaser on the phone or at an open house? </h2>
If you make a statement about a residential property’s likely selling price in marketing that property to a buyer, potential buyer, seller or potential seller, you must make a written record of the statement.
The record of the statement must contain:
<ul>
<li>the address of the property concerned</li>
<li>the price or price range</li>
<li>the date and time of the statement.
</li>
</ul>
For more information, <a href="https://www.fairtrading.nsw.gov.au/ftw/About_us/Legislation/Changes_to_legislation/Underquoting_reforms.page" target="_blank">click here</a>.
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Property 101: Underquoting laws in NSW

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Australian households are saddled with more debt in relation to the size of the economy than any other country, according to a new report published by LF Economics.  
In a piece written for The Guardian, Philip Soos from LF Economics said Australia's household sector has accumulated massive unconsolidated debt compared with other countries and as of the third quarter of 2015 has become the world's most indebted household sector relative to GDP.
"Denmark long held this unholy accomplishment, but has been slowly deleveraging over the last several years as its housing bubble peaked and burst during the GFC," he said.
"The latest debt-financed boom in Sydney and Melbourne<a class=" u-underline" href="https://www.theguardian.com/australia-news/2015/jul/23/sydney-house-prices-jump-22-in-one-year-to-reach-1m-median-report-says" data-link-name="in body link" data-component="in-body-link"> </a>has resulted in Australia now overtaking Denmark, a comparison of official figures from Australia and Denmark has shown.
"Australia has around $2 trillion in unconsolidated household debt relative to $1.6 trillion in GDP. Australia’s ratio is 123.08%, while Denmark’s fell slightly to 122.99% in the third quarter of 2015, a marginal difference of 9 basis points. Although Denmark holds the record in terms of peak debt of 140.14% in the last quarter of 2009, as Australia continues to leverage and Denmark deleverages the current gap between the two will widen."
He said apart from Switzerland, which with Denmark has a negative interest rate, no other country is close in terms of having such extreme household sector debts. The UK ratio is 85.9% while in the US it is 79.1%.
<a href="/images/2016/01/19/CYue0tBUsAADkVH.jpg-large.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/19/CYue0tBUsAADkVH.jpg-large.jpeg" alt="">
Soos, the co-author of Bubble Economics: Australian Land Speculation 1830-2013 and co-founder of <a class=" u-underline" href="https://www.lfeconomics.com/" data-link-name="in body link" data-component="in-body-link">LF Economics</a>, says over the last two decades, Australia has been beset by rampant housing price inflation.
<div id="dfp-ad--inline1" class="js-ad-slot ad-slot ad-slot--dfp ad-slot--inline ad-slot--inline1" data-link-name="ad slot inline1" data-test-id="ad-slot-inline1" data-name="inline1" data-mobile="1,1|300,250" data-mobile-landscape="1,1|300,250" data-tablet="1,1|300,250" data-node-uid="27">
<div class="ad-slot__label" data-test-id="ad-slot-label">
"Since 1996, prices have outpaced fundamentals such as inflation, incomes, construction costs, rents and GDP, making it difficult for potential first home buyers to enter the market "<a class=" u-underline" href="https://www.theguardian.com/australia-news/2016/jan/14/melbourne-rent-hits-record-high-as-agents-report-high-demand" target="_blank" data-link-name="in body link" data-component="in-body-link">while lower income households and marginal groups struggle to afford decent shelter.</a>"</div>
</div>
He calculates between 1996 and 2015, housing prices (adjusted for inflation and quality) have boomed by 141%, "without a large and obvious downturn."
"Contrary to the analyses of the vested interests, the data clearly establishes Australia is in the midst of the largest housing bubble on record," he concludes.
"Only a couple of housing market metrics is needed to identify a bubble, and are now considered commonplace: nominal price to inflation, price to income and price to rent. 
"On all three, Australia is both historically and internationally at or near the top."
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Soos in The Guardian: How Australian households became the most indebted in the world

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Only 1.7% of homes resold in Sydney over the third quarter of 2015 sold at a loss which is the lowest proportion on record, according to the CoreLogic RP Data Pain &amp; Gain report.
The Burwood and Hunters Hill council areas each recorded no resales at a loss over the quarter.
The highest proportion of loss-making resales over the quarter were found in: Rockdale (3.7%), Pittwater (3.6%) and Blue Mountains (3.1%) however, the proportion of loss-making resales in these regions was extremely low relative to other cities. 
 
<a href="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.28.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.28.12%20AM.png" alt="">
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Where the biggest loss making property sales in Sydney are: CoreLogic RP Data Pain & Gain report

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You may be eligible in 2016 for a one-off grant under the national First Home Owner Grant Scheme regardless of which state or territory you live in.
To see if you are eligible, click on the links below the correspond to the state or territory you are looking to purchase in.
 
New South Wales State Government
<a href="https://www.osr.nsw.gov.au/grants" target="_blank"><img src="/images/2015/07/28/nsw.jpg" alt="" width="200" height="138"></a>
 
 
Australian Capital Territory 
<a href="https://www.revenue.act.gov.au/home-buyer-assistance/first-home-owner-grant" target="_blank"><img src="/images/2015/07/28/ACT%20Logo.gif" alt=""></a>
 
Northern Territory State Government
<a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/Pages/default.aspx" target="_blank"><img src="/images/2015/07/28/nt1.jpg" alt=""></a>
 
Queensland State Government
<a href="https://greatstartgrant.osr.qld.gov.au/" target="_blank"><img src="/images/2015/07/28/qld.png" alt=""></a>
 
Government of South Australia
<a href="https://www.revenuesa.sa.gov.au/" target="_blank"><img src="/images/2015/07/28/sa.png" alt="" width="309" height="206"></a>
Tasmanian Government
<a href="https://www.sro.tas.gov.au/" target="_blank"><img src="/images/2015/07/28/tas.png" alt=""></a>
State Revenue Office of Victoria
<a href="https://www.sro.vic.gov.au/" target="_blank"><img src="/images/2015/07/28/album_photos_medium_28.jpg" alt=""></a>
Government of Western Australia
<a href="https://www.finance.wa.gov.au/cms/State_Revenue/FHOG/First_Home_Owner_Grant.aspx" target="_blank"><img src="/images/2015/07/28/govOfWATextColour_283x268.jpg" alt=""></a>
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Are you eligible for a first home owner grant, exemption or bonus? State by state breakout

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." />

&nbsp;

&nbsp;

&nbsp;

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.

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"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."

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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.

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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.

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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.

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