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House sales have trended higher while units sales have tapered according to CoreLogic RP Data's Housing Market and Economics Update for August.
The report found to May this this year 352,012 houses have been sold, up 2.5% from the same time last year.
131,922 units have been sold this year, a 7.7% decline from the same period in 2014.
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House sales still high, unit sales falling: CoreLogic RP Data

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GUEST OBSERVATION
The Submission to the Standing Committee on Economics Inquiry into Home Ownership by Judith Yates Honorary Associate Professor in Economics, University of Sydney, has documented the current rates of, and widespread declines in, home ownership by age and by household income. 
It explains the long-term decline in home ownership amongst younger households in terms of underlying structural trends in the Australian economy, arising from arise from social and demographic factors and from economic and institutional factors. 
In relation to the latter, it highlights the impact of demand from established households both as owner-occupiers and as investors in light of growing income inequality. 
It points, in particular, to the role of the system of housing finance that makes it relatively easier for better-off households to accumulate housing assets through debt finance; the income taxation system that provides them with an incentive to treat property as a means of accumulating wealth ahead of its more essential role as providing shelter; and the system of property rights in Australia that ensures that those who do own land are able to act as rent-seekers by expropriate for their own the increase in land values not of their own making. 
It suggests that increasing land values in urban locations are an inevitable outcome of the combined impact of the pressure of income and population growth; structural change which results in increasing urbanization and concentration of (knowledgebased) employment in its central locations a failure to invest in a rapid-transit transport infrastructure that facilitates cost-effective access to employment and essential services. 
It concludes that that attention needs to be paid to the underlying structural factors that have contributed to declining home ownership if trends over the past 50 years or so are to be reversed. Land-release and urban planning policies might ameliorate supply shortages when pressures on dwelling prices arise from increasing demand driven by population (or, more specifically, household) growth. 
They are less likely to be effective when pressures on dwelling prices arise from increasing demand for bigger and better located dwellings driven by economic growth and/or increasing inequality. In this instance, policies are needed to reduce demand from existing households. 
Although Australia’s home ownership rate has remained relatively stable at around 70% for half a century, much of this stability has arisen because of demographic change with an increase in the proportion of older households with a high incidence of home ownership offsetting a decline in the incidence of home ownership among households who have a reference person less than 45 years old. 
That this decline was already being observed in the late 1980s and has continued at a relatively steady rate since then suggests structural rather than cyclical drivers are critical.
This submission focuses on these trends and on the factors that explain declining rates amongst younger households. 
Home ownership in Australia expanded rapidly in the 1950s from a post-war level of 47% to reach its current level of around 70% by 1961, with much of its post war growth to economic and demographic drivers of the time.3 Home ownership was promoted as a means of solving housing shortages and substandard rental accommodation prior to the Second World War and has been underpinned by both explicit and implicit government policies in the post war period. 
These have included direct subsidies (such as grants to first time home purchasers and subsidized mortgage interest rates) and indirect subsidies (such as exemptions from federal income taxes and state land taxes and concessions on stamp duties). A long standing ideological commitment to home ownership added to these drivers.
Aggregate home ownership in Australia has been relatively stable for the past 50 years since reaching its current level of around 70 per cent in the 1960s. 
Home ownership rates for those in the 25-34 year old group peaked in the mid-1970s and have declined more or less steadily since then, falling by 9 percentage points from 60 per cent to 51 per cent between 1976 and 2001 and by a further 4 percentage points to 47 per cent to 2011 – in other words, by 13 percentage points in 35 years.
The decline for those in the 35-44 year old group followed in the mid-1980s as the earlier cohort aged, falling from 74 per cent in 1986 to 64 per cent in 2011. 
Many studies have shown that age, marital status and family composition are key demographic determinants of home ownership.6 They also have shown that home ownership is significantly constrained by economic factors, such as household income (both current and permanent) and wealth and affected by economic factors (such as housing subsidies and taxation) that affect the relative cost of owning vis a vis renting.
In broad terms, these tenure choice studies show that, for the past 50 years or so, home ownership rates in Australia have been higher for older than for younger households, higher for couples than for single person households and, for each of these household types in each age group, higher for households with children than without children. On an age specific basis, home ownership rates are higher for higher income and higher wealth households. At least since the 1990s, the declines in home ownership rates for younger households have been greatest for lower income households. 
Changes in these socio-demographic and economic drivers over time explain the relative stability of the aggregate home ownership rate in light of declining rates for younger households. In other words, it is the ageing of the population that has been the dominant factor that has kept Australia’s aggregate home ownership rate stable at around 70%.
More complex explanations are required to explain the declining rates for younger households. 
Explaining the decline in home ownership rates amongst younger households in Australia can be broadly categorised into demand factors driven by social and demographic or institutional and economic factors and supply factors that affect the structure of Australia’s urban housing markets.
Socio-demographic factors appear to be the primary drivers of decline from the mid-1970s through to the 1980s with economic and market structure factors and being the primary reasons for this decline being sustained through the 1990s and 2000s. 
Key socio-economic drivers that affected the home ownership rates of younger households from the 1970s arise through changes in household composition of these households and to a growth in single person and single parent households.
These include: An increase in the proportion of two income households 
A decline in marriage rates and an increase in divorce and separation 
A decline in fertility rates
An increasing share of migrants in population growth 
The combined effect of these changes contributed to a relative increase in the proportion of single person and childless couple households amongst those in the 25-44 year age group with lower home ownership propensities than other household types. 
These social changes had two significant but offsetting economic impacts. An increase in the number of two earner households resulted in a move away from the traditional model of a single (male) breadwinner family household and increased the number of potential first home buyers who were higher income households. 
Changes in social attitudes, however, also meant many younger people deferred partnering, and many who had been partnered, divorced or separated which increased the number of single adult households, many of whom had relatively low incomes. 
The combined effect of these changes contributed to changes in income distribution and to market pressures that impeded access for lower income households. Because of the social changes that were occurring, there was some disagreement over whether the decline in home ownership observed from the mid-1970s until the 1990s was simply a temporary deferral or whether it was a result of economic changes that increasingly constrained access so that the decline would more likely be permanent.
This is an edited transcript.
Judith Yates is honorary associate professor in economics, University of Sydney.
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Judith Yates' submission to the Standing Committee on Economics Inquiry into Home Ownership

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Capital city rents are climbing at the slowest pace recorded since December 1995, with the annual rate of rental appreciation now 0.9% and continuing to fall.
According to CoreLogic RP Data's July Rental Index Results weakly rents over the past three months have fallen in every capital city except Melbourne.
CoreLogic RP Data head of research Tim Lawless said with home values continuing to rise, gross rental yields are trending lower. 
"Dwelling rental rates across the combined capital cities are sitting at $486 per week and fell by -0.3% over the month of July. However, weekly rents are up by 0.3% over the first seven months of the year and have increased by just 0.9% over the past 12 months," Mr Lawless said.
“Rental appreciation continues to be sluggish and can be largely attributed to the ongoing boom in dwelling construction across Australia’s capital cities accompanied by record high participation in the housing market from investors.
“With capital growth likely to continue outpacing rental growth, we expect that rental returns could push even lower over the coming months. From an investment perspective it means that capital growth is going to be much more important for a return on investment.”
Combined capital city gross rental yields were 3.4% for houses in July and 4.3% for units. Last year gross rental yields for houses was 3.8% for houses and 4.6% for units.
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Capital city rents climbing slowest since 1995: CoreLogic RP Data

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ASIC has acted against companies associated with Perth-based property developer, the Nicheliving group, for misleading advertising.
ASIC has issued infringement notices on Australian Property Alliance Pty Ltd (APA) and imposed new licence conditions on the Australian credit licence of Wealth WA Pty Ltd (WWA), which provided financial services in the course of the Nicheliving group's primary business, property development and real estate sales.
Four  infringement notices were issued to APA, resulting in payment of $40,800, for misleading advertisements published on various websites administered by APA, the Nicheliving Facebook page, YouTube, as well as on television channels 1, 9, 10, 11 and GEM during the period 14 May 2014 to 16 October 2014. 
The advertisements represented that consumers could obtain an investment property from "just $59 per week". ASIC was concerned that the advertisements were misleading because they did not disclose the detailed assumptions and qualifications which underpinned a negative gearing investment strategy, requiring the consumer to enter into a mortgage to finance the purchase of the property and to pay an upfront amount of $35,000.  
ASIC was also concerned by the accuracy of other historical advertising published by WWA which included headline claims to the effect that its financial services could assist consumers to:
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<li>pay off their mortgages in eight years instead of 30;</li>
<li>legally reduce their tax to nil; and</li>
<li>increase their net worth by $100,000 by investing $59 per week.</li>
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In response to ASIC's concerns, APA and WWA have agreed to:
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<li>engage an independent compliance consultant to review their respective advertising policies and procedures; and</li>
<li>adopt training procedures to ensure their staff are informed of legal requirements in relation to marketing undertaken in connection with financial products or financial services. </li>
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The requirement to engage an independent compliance consultant will be included as a condition of WWA's credit license. 
Deputy Chairman Peter Kell said, 'The advertising of credit products and services must be clear, accurate and balanced, particularly in relation to the sale of real estate which may involve borrowing significant sums of money.
'ASIC wants to ensure consumers have a clear understanding of the commitments they are entering into and are not misled by grand claims. We will act against companies where we consider their advertising is potentially misleading or deceptive'.
WWA and APA withdrew the advertising after being informed of ASIC's concerns.
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Perth-based Nicheliving companies penalised for misleading advertising

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New South Wales auction results for week ending Sunday August 9 show a preliminary clearance rate of 78% from 1008 scheduled auctions.
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<div class="num">According to data from realestate.com.au, 477 were sold at auction within NSW, 119 passed in and 173 selling prior.</div>
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<div class="num">Victoria had a clearance rate of 79% from 1057 total scheduled auctions, Queensland a clearance rate of 62% from 141 total scheduled auctions, South Australia 81%, and Western Australia 44%.</div>
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<div class="num">One standout property in Sydney's Bardwell Park was an 986 sqm block complete with brick <a href="https://www.realestate.com.au/property-house-nsw-bardwell+park-120236393" target="_blank">three bedroom home which sold for </a><a href="https://www.realestate.com.au/property-house-nsw-bardwell+park-120236393" target="_blank">$1,775,000</a>.
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<a href="https://www.realestate.com.au/auction-results/" target="_blank">Click here to see the full national breakout</a>.</div>
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Sydney's preliminary clearance rate at 78% Realestate.com.au

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A $75 million complex of 80 terraces is slated for Brisbane's West End, with the project released to the public on August 22.
Properties within Manhattan Terraces, located on 24 Bailey Street, will be for sale from between $799,000 - $999,000. One four bed, five bathroom trophy estate will be available for $1.59 million. 
Urban Construct managing director Todd Brown said research shows strong demand for high-end, owner-occupier targeted homes in West End and until now there has been no new product catering to this market.
“These are the only new terrace homes of this scale within seven kilometres of the CBD and we expect significant inquiry given that we are offering something so refreshing and different for the local market," Mr Brown said.
“The terraces are tailored to suit those who don’t necessarily want a freestanding home, but also don’t want to live in congested living spaces with high community fees such as apartments which have proliferated throughout Brisbane in recent years."
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$75 million development slated for Brisbane's West End

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HomeStart Finance, the home ownership assistance program established by the SA government in 1989, urges the House of Representatives Standing Committee on Economics Inquiry into Home Ownership in Australia to consider the impact of access to affordable, sustainable home finance as an essential component of ensuring home ownership remains within the reach of Australians on low to moderate incomes.
"The demand for home ownership has remained constant for many years, particularly amongst would-be first home buyers. Our research has found that the majority of this segment think home ownership is ‘very important’ (60%), primarily for financial security, however an even greater majority think it is harder to buy a home now than 12 months ago (69%)." Numbers are according to HomeStart’s ‘Home Truths’ research of 499 South Australian first homebuyers in 2015.
"The primary reasons hindering these aspiring home owners are both financial (deposit, start-up costs), and inability to borrow enough to buy a home in their price range – which can be attributed to both supply of housing priced in the low-moderate range, and securing enough funds to make a purchase. 
"Would-be homebuyers facing such issues represent a growing proportion of the potential buying market. While supply issues certainly prevent some from purchase, another sizable portion could become sustainable, wealth-building homeowners if they could find suitable home finance."
When comparing home ownership in Greater Adelaide to Playford between 1991 and 2011, data from ABS Census shows that in 1991 home ownership in Playford was at 53.8% compared to 68.4% for Greater Adelaide households. "By 2011 the gap had narrowed with Playford reporting home ownership of 58.7% (+4.9 pp) and Greater Adelaide 66.1% (-2.3pp)."
"HomeStart’s experience and results demonstrate there is a role of government to play in providing a stepping stone for customers to move from private rental or other accommodation into assisted home ownership. 
"The success of KeyStart in Western Australia provides further evidence of a need for such assistance. Both programs are constrained to operating within their respective states, and not unreasonably so given the states provide capital and ongoing funding. The consequence of this limitation is that the vast majority of Australia’s population is unable to access a valuable pathway to home ownership. 
"We believe offering this bridge from rental to buying in the private market represents a sound policy instrument by which government can help bring the Australian dream of home ownership to fruition, along with the myriad of associated benefits such as increased wellbeing, stability, community connection and financial security."
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HomeStart Finance calls for affordable home finance

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Perth's median house price fell 3.6% in the June quarter, the largest median house price fall since the September 2013 quarter.
David Airey, president of the REIWA said the median price units and apartments also fell and the soft market he had forewarned for 2015 had arrived.
“The metropolitan median house price dropped from $550,000 to $530,000, and units, apartments, villas and townhouses saw their median price drop from $440,000 to $420,000," Mr Airey said. 
“It was a similar story in the regions with the median house price dropping by $10,000 to $380,000 and the median apartment price in the country dipping by around $4,500 to $325,000.
Mr Airey said there is a market correction underway in WA and many sellers are having to discount to find a buyer, however some of this fall can be attributed to the composition of sales, with a greater turnover of more affordable properties pulling the median downwards.
“Across the metropolitan area, almost 60% of sellers reduced their asking price to seal the deal, and where that happened a discount of around 6% was the average reduction," MR Airey said.
“There were 10,200 sales in the June quarter, down by 900 in the previous quarter, but more significantly, down 21.5% in turnover from the same time last year."
At the end of the quarter rental property vacancy increased 23% from the March quarter to 8,128 properties - 40% more than the corresponding period in 2014.
Metropolitan median rent dropped $10 to $420 per week, with overall median rent falling by $55 over the last two years.
The Office of State Revenue took 4,820 First Home Owners Grant applications, down 21% from the same period last year.
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Perth's median house price falls in June quarter: REIWA

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Melbourne's house rental yields have dipped to 3%, according to the latest CoreLogic RP Data Home Value Index.
Units, as could be expected, sit a little higher for investors.
 
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Melbourne's house rental yields dip to 3%: Corelogic RP Data

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<div class="page" title="Page 1">The New South Wales property market has driven the state into a large operating surplus, with stamp duty revenue on property transfers forecast to have grown 20.6% in 2014/15 and elected to grow a further 7.6% in 2015/16.</div>
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<div class="page" title="Page 1">According to Commonwealth Bank economist Gareth Aird, property transaction related revenue typically, around 10% of total government revenue, has significantly boosted some state budgets. 
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<div class="page" title="Page 1">Like NSW, Victoria is anticipating a surplus in 2015/16 which, if realised, will mean that it extends its run of surpluses that began in the mid-1990s.</div>
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<div class="page" title="Page 1">Strong growth in property transfer duty revenue is offsetting some weakness in income and consumption-based taxes such as payroll and gambling. </div>
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Property purchases drive state government surplus: Gareth Aird

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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