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Greville Pabst, CEO and director of <a href="https://www.wbpproperty.com/" target="_blank">WBP Property Group</a> and a judge on The Block Triple Threat, answered some of Property Observer's questions on the state of the current state of the market.
<ul>
<li>
How would you describe the auction market? The auction market is highly competitive. Today you can expect anywhere between four and six bidders at an auction in Melbourne, particularly in popular inner suburbs. This has meant strong growth for quality properties. This year we’ve also seen softening in the western suburbs with both auction volumes and clearance rates dropping slightly across the region. Standout areas for performance are the eastern and south-eastern suburbs. Total transaction volumes are down by about 10% when compared with this same time last year, however, as a percentage of overall transactions auctions have increased slightly, accompanied by an increase in clearance rates - Melbourne averaging 76% this year compared with 72% at the same time last year.</li>
</ul>
<ul>
<li>
Is the private treaty market likewise? Transaction volumes demonstrate there is greater confidence buying at auction this year, which may prompted by record low interest rates and strong competition among bidders. But, the key take away is that fewer properties are passing in at auction. At this time the clearance rate for auctions is at 76.3% - this time last year it was at 71.6%.</li>
</ul>
<ul>
<li>
What tips would you give home buyers? Given current levels of competition it’s important buyers don't make hasty decisions. The key to securing well-performing property is research, and, if needed, getting independent expert advice.  It’s also important to consider that whether buying a home or investment property, a sound selection now will have a significant impact on your personal wealth well into the future. Securing a property with high capital growth potential is crucial.</li>
</ul>
<ul>
<li>
What tips would you give investors about the timing of their buying in the 2015 market? When asked this question I always recall the proverb, “'The best time to plant a tree is 20 years ago, the second best time is now.” In truth, there’s no right or wrong time to buy a property. The best time is when you’re financially ready.  The crucial factor with any property investment is the amount of time in the market – that is, unlike with some shares, property growth is realised over time, not overnight. The high cost of transacting property means investment of this kind is typically a long-term commitment. </li>
</ul>
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Melbourne auction market highly competitive: Q&A with WBP's Greville Pabst

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There are hundreds of home loans on offer. Unsurprisingly, there are equally as many situations for taking out a loan or changing your current mortgage arrangement.
For this reason, it can seem daunting to find the right loan for your needs.
Whether you’re looking to buy your first home, an investment property or refinance an existing loan, you’ll need to consider fees, rates, repayment terms, insurance and even customer service.
Now in this free Property Observer eBook, Get loan-savvy – tips for a first time, investment or refinancing loan, you can decide on a home loan that meets your requirements.
Brought to you by leading home loan comparison site Mozo.com.au, this savvy guide will take you through all the elements of finding, researching and comparing loans with practical tips from the experts.
You’ll learn:
<ul>
<li>The essential questions to ask before applying for a loan;</li>
<li>Whether to opt for a fixed or variable loan;</li>
<li>Online versus bricks and mortar – how to find the right lender for you;</li>
<li>The pros and cons of the ‘Big Four’ banks, online lenders and more.</li>
</ul>
{rsform 61}
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Get loan-savvy: expert tips for a first-time, investment or refinancing loan in a free eBook

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GUEST OBSERVATION
The March dwelling approvals report came in above expectations with approvals rising 2.8% v market and Westpac expectations of a 2% dip.
The context here is important – approvals surged 25% in the final three months of 2014 and have broadly held on to these gains in early 2015 with moves of +0.3% in January, –1.6% in February and now +2.8% in March.
Although small, the March rise takes approvals to a new record high that, if sustained for another 11 months would see annual approvals at 233,000 – that compares to approvals of 210,000 over the last 12 months which is already well above the previous recorded peak of 201,000 in 1973 (more recent peaks have topped out at around 180,000).
The main driver of recent strength has been in NSW and VIC units where large high-rise projects have been key. This presented a potential downside risk to monthly approvals if a ‘gap’ in the project pipeline emerged.
This clearly did not occur in Mar with private sector unit approvals posting a robust 5.3% month rise. An initial glance at the detail suggests high rise was again the main driver.
The other detail was a touch better than expected. Private sector detached house approvals were up 1.1% after a five months run of flat results and despite construction related finance approvals showing signs of flattening out.
The state detail shows a modest firming in NSW and VIC is offsetting weakness elsewhere.
The value of renovation approvals fell back in March and is flat on a year ago. The value of non-residential approvals was up but is bouncing round a low level, down 20% year on year.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Australian dwelling approvals above expectations: Matthew Hassan

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Julian Augustini, a director at <a href="https://www.hodges.com.au/" target="_blank">Hodges Brighton</a>, answered some of Property Observer's questions on the state of the current state of the market.
<ul>
<li>How would you describe the auction market? Is the treaty market likewise?</li>
</ul>
Because of the low interest rates, Melbourne's property market at the moment is performing strongly.
The auction market at the moment is very active, and so is the private sale market.
<ul>
<li>What tips would you give home buyers?</li>
</ul>
Buy in the best possible location for your budget.
You can make small, cost-friendly changes to your home over time but you can't change where you are located without selling and upgrading.
<ul>
<li>What tips would you give investors about the timing of their buying in the 2015 market?</li>
</ul>
The rental market remains stable so buying now and locking in low interest rates gives security and potential for growth. 
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Low interest rates driving Melbourne market: Q&A with Hodges' Julian Augustini

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GUEST OBSERVATION
Watching The Block last night, the end story was that "everyone was a winner".
The renovators won, the buyers agents won and the TV station won with the ratings, despite paying out a television record $3,165,000 in prizes.
Huge prices were paid for all of the St Kilda townhouses, with the winners Darren and Deanne selling for $835,000 over the reserve price of $1,455,000, or 57% more than what the property was valued at prior to the auction.
Winning a property at auction is a great feeling for buyers, with emotions of triumph and relief. In the following days the reality of a mortgage usually sets in and sometimes with varying degrees of buyers remorse.
Paying a huge price for a property would be fine if property markets were on an endless trajectory upwards. With growth in Melbourne and Sydney over the past few years at continually stratospheric heights, it is hard to blame buyers for thinking that growth will be endless.
For those of us who have been in the property industry for a long time, we know that markets rise, fall and also at times remain steady. We have seen many winners make large capital profits, however we have also seen many losers who have paid too much for their properties at the high end of a boom cycle.
Paying a premium amount for a property is less of an issue if the buyer will have no mortgage, however most people purchasing property do have mortgages and in the current market many have been borrowing a large percentage of the property purchase price.
Which brings us back to the large prices paid for the units in The Block. Now that the cameras have moved out and the production crew and media circus have moved on to other entertainment, the buyers will be preparing for the reality of settlement and paying the remainder due.
Is there any ongoing cachet or prestige for previous Block television properties? The answer in most cases is no.
The truth is that these places were renovated by amateurs finishing properties quickly on limited budgets to meet episode deadlines. Many will have repair and maintenance issues to be addressed, and when resold in the years ahead being a Block property is unlikely to be the sales agents main selling point. At that stage buyers will be more interested in the fundamentals of the property including the quality of the fittings and materials, the location, aspect and natural light, floor plan, noise, and the other important features.
As a buyers agent it was particularly disappointing to see the Melbourne buyers agent's conduct at The Block auctions. The approach appeared to be more concerned about "winning" for their clients regardless of the auction bidding increments made and eventual price paid. Professional buyers agents should be acting in the interests of their clients and often that involves advising them not to proceed with a property or to set a measured maximum price.
If bidding at auction on behalf of a client, it is best to not be continually on the phone to your client during the auction as it is harder to keep a poker face and to concentrate properly, and your competition will find it easier to see when you are nearly finished. We suggest clients have a pre-written maximum bidding amount, which means that our client's amount is determined by a proper price analysis on the property rather than being influenced by the frenzied bids of other buyers.
Henry Wilkinson is principal of buyer's agency <a href="https://www.homesearchsolutions.com.au/" target="_blank">Homesearch Solutions</a>.
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The Block - the real winners and losers: Henry Wilkinson

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The median Burnie rental rate of $190 a week is less than half the $455 a week median in Hobart, according to the latest Knight Frank/Residex data on Tasmania.
In Burnie, a renter could expect a house like <a href="https://www.realestate.com.au/property-house-tas-acton-415662996" target="_blank">71 Payne Street in Acton</a> (pictured below), for $230 per week.
<img src="/images/2015/05/01/acton%20may%201.jpg" alt="">
The three bedroom house with one bathroom is located north east of central Burnie. The landlords paid $183,000 for the house in 2011. If it rents at its current advertised rate, it will yield 6.5%.
In Hobart, at the median weekly rental rate of $455, a renter might secure <a href="https://www.realestate.com.au/property-house-tas-sandy+bay-414978087" target="_blank">18 Princes St in Sandy Bay</a> (pictured below). The three bedroom Federation house has floorboards throughout cost landlords $508,000 in 2009, and if they find a renter at its asking rate, it will yield 4.7%.
<img src="/images/2015/05/01/sandy%20bay%20may%201.jpg" alt="">
At Launceston, the median weekly rental rate is $320, the asking rent for this Youngtown house. Located at <a href="https://www.realestate.com.au/property-house-tas-youngtown-415649599" target="_blank">93 Poplar Parade</a> (pictured below), the three bedroom brick home has a flat backyard and a garage.
<img src="/images/2015/05/01/youngtown%20may%201.jpg" alt="">
The landlords paid $255,000 for the investment property in October 2013. It will yield 6.5% if it's rented at its advertised price.
Rents have been gradually increasing across Tasmania since 2006, according to the research.
The priciest rental on the apple isle that Property Observer could find was a <a href="https://www.realestate.com.au/property-house-tas-sandy+bay-409136031" target="_blank">Sandy Bay holiday rental</a> (pictured below), which is available from $1,820 per week in the low season, and $2,450 per week in the high season.
<img src="/images/2015/05/01/sandy%20bay%20may%201%20two.jpg" alt="">
Churchill House, situated in the Sandy Bay hills, has four bedrooms and two bathrooms over two levels, with water views.
Holiday rentals were much dearer than long-term offerings. 
Click charts to open in new window:
<a href="/images/2015/03/23/hobart-mar-23-one.jpg" target="_blank"><img src="/images/2015/03/23/hobart-mar-23-one.jpg" alt=""></a>
<a href="/images/2015/03/23/hobart-mar-23-two.jpg" target="_blank"><img src="/images/2015/03/23/hobart-mar-23-two.jpg" alt=""></a>
<a href="/images/2015/03/23/hobart-mar-23-three.jpg" target="_blank"><img src="/images/2015/03/23/hobart-mar-23-three.jpg" alt=""></a>
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Burnie rentals less than half Hobart: Knight Frank/Residex

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The recent survey by the ANZ-Property Council showed the prospect of stronger construction and employment growth was emerging in the housing sector. 
<img src="/images/2015/04/23/anz-april-23-one.jpg" alt="">
<img src="/images/2015/04/23/anz-april-23-two.jpg" alt="">
<img src="/images/2015/04/28/anz-april-28-one.jpg" alt="">
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Stronger construction for housing emerging: ANZ-Property Council

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GUEST OBSERVATION
Trauma from domestic abuse causes suffering and pain in multiple ways. We often think first of the physical impact of domestic violence, but new research shows domestic violence can force women into lower-quality housing – or make it harder to find a home altogether.
Domestic violence is the primary <a href="https://wesnet.org.au/wp-content/uploads/2011/05/homesafehome.pdf">reason</a> for women’s homelessness. Safe, appropriate housing and the economic resources to maintain it are two of the most pressing concerns for women wanting to escape domestic violence.
Following separation from a violent partner, women and their children are likely to experience significant income loss, financial hardship and housing instability, <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/19218545">particularly women</a> who are at least partially financially dependent on their partners.
In other words, housing affordability is one of the primary issues women are forced to confront when deciding whether or not to leave a violent relationship. The prospect of high rents and scarce housing supply may even be causing women and children to remain in dangerous situations.
The cost of leaving
Dr Carole Zufferey, Professor Suzanne Franzway, Professor Donna Chung, Dr Nicole Moulding and I have been researching the intersection of domestic violence and the housing affordability crisis. We have just completed a study that examined the compounding effects of domestic violence on women’s housing, employment and mental health in Australia, funded through the Australian Research Council Discovery Grant Scheme.
For this project, 658 women completed a national online survey during 2013-2014 and 79% of the sample had children. Participants were recruited through advertisements and contact with national and local domestic violence and housing services across Australia.
We found that while experiencing domestic violence, 50.8% of the participants owned their home. Immediately after leaving the violent relationship, only 13.4% owned their home. At the time of completing the survey, 37.1% owned their home.
Immediately after leaving, 26.7% were in a rental property and 46.9% of women lived in temporary dwellings, which included caravans, shelters, staying with friends/family (33%), cars or parks.
For the majority of women (67%), housing costs increased after separation, which obviously affects the choice of home they could afford. In other words, leaving a violent relationship came at a big financial cost for the women.
At the same time, the majority of women reported being on a much lower income, with many having to leave their jobs after their relationship ended. Many experienced financial insecurity and poverty, which compounded housing affordability and safety.
The cost of violence
The housing problems women face once they leave a violent relationship are complex and multiple. Financial losses as a consequence of leaving a violent relationship impact women’s housing status, choices and practices.
For example, we found women often had to pay for a violent partner’s property damage and debts, which affected their ability to access and afford adequate rental housing. Alternatively, legal costs and non-payment of child support after separation reduced income for housing.
Women who were or had been home owners experienced unequal and lengthy property settlements, with many women settling for less because they feared their partner.
One woman said: "property damage from him… the place was in my name… it’s held against me in finding rental."
Another woman said: "He hadn’t paid bills for several years and would lie, saying he had paid them while hiding the bills… I was left with overdue rates, other debts and the house is in unmanageable state of disarray."
We also found that the most frequently used description in the data on housing was the loss of a “safe home”. Among participants surveyed, 42% of women (and their children) had to make frequent moves to escape violence. This disconnected them from communities, schools and a sense of “home”.
Fear also impacts on women’s decision-making about their housing choices and options.
One woman said: "I will never have a home of my own or a place that I feel is my home – safe, secure and private."
Another woman said: "I have felt invaded, under siege, at every house I have been in… I needed to pay for increased security measures, sensor lights, high fencing, lockable gates. I slept with my bedroom light on and my mobile under my pillow."
Our study also found that feelings of shame that accompany domestic violence also hindered women’s decisions and abilities to seek out housing services and assistance.
Women reported feeling shame when they asked friends and family for help, when they applied for private rental or public housing and when they used health and welfare services for domestic violence.
One woman said: "We had to go into housing commission rental that was very demoralising for me. My children suffered… I had lost everything I had worked for, most of my furniture [and was] made to feel second rate and that made my self-esteem even worse."
Staying in the family home
In Australia, the funding of public housing has been curtailed and average house prices are increasing relative to income. The proportion of first homeowners has fallen and there is increasing competition for housing in the private rental market where landlords exercise considerable <a href="https://www.sapo.org.au/pub/pub10023">discretion</a> in choice of tenant.
The majority of women experiencing domestic violence are forced to leave their homes for their own and children’s safety, and they are systematically disadvantaged as they enter the rental housing market.
They are forced to tackle this terrain while experiencing fear, parenting traumatised children and often enduring financial hardship.
To prevent homelessness and housing instability for women and their children, we need to continually look for ways that enable women to seek protection from domestic violence and remain in the family home, <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1415/ViolenceAust">while the perpetrator is removed</a>. This supports women and their children to maintain connections to their homes and communities, social support networks, employment and educational opportunities and it provides stability for children.
Housing, legal and domestic violence systems and services must continually work together toward this goal.
Sarah Wendt is program director, Masters of Social Work; co-director, Research Centre for Gender Studies; senior lecturer, School of Psychology, Social Work and Social Policy at University of South Australia.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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How housing affordability hurts women and kids fleeing violence: Sarah Wendt

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South Canberra is the dearest region for rents in the nation's capital, according to the recent CoreLogic RP Data Quarterly Rental Review.
Click charts to open in new windows: 
<a href="/images/2015/04/10/canberra-april-13-one.jpg" target="_blank"><img src="/images/2015/04/10/canberra-april-13-one.jpg" alt=""></a>
<a href="/images/2015/04/10/canberra-april-13-two.jpg" target="_blank"><img src="/images/2015/04/10/canberra-april-13-two.jpg" alt=""></a>
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South Canberra home rental the ACT's priciest: CoreLogic RP Data

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The five capital city aggregate of CoreLogic RP Data's daily home value index continued to rise during April, just days before the next formal update.
<img src="/images/2015/04/27/Picture%2057.png" alt="">
Source: CoreLogic RP Data
The combined five capital home values are up 8.2% from last year, after a 4.0% increase in 2015 so far.
<img src="/images/2015/04/27/Picture%2058.png" alt="">
Source: CoreLogic RP Data
Sydney is leading the charge, with home values up 6.8% since 1 January, and 14.1% annually.
The next closest is Melbourne with 4.8% growth since January.
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Five capital city CoreLogic RP Data's daily home value index continues to climb

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

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