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GUEST OBSERVATION
The rapid growth of the giant online accommodation-sharing platform, aka Airbnb, is creating serious concerns about equity and the impacts on our cities and neighbourhoods as we know them. Our recent research shows that the patterns of Airbnb listings in Australia’s biggest cities are highly uneven. The findings suggest impacts on rental housing are likely to be biggest in high-end areas that appeal to tourists. Low-income areas are less affected.
Our research – focusing on the Sydney and Melbourne metropolitan regions – looked into three important questions:
<ul>
<li>Where are the listings?</li>
<li>Who is hosting Airbnb?</li>
<li>What are the impacts on rental markets?</li>
</ul>
Where are Airbnb listings located?
The maps below show the distribution of Airbnb offerings in the Sydney and Melbourne metropolitan regions. These also show the composition of listings: entire (house/apartment, shown in red) versus partial (room only or shared room, in blue).
<img src="https://cdn.theconversation.com/static_files/files/114/animation_Syd.gif?1526600665" width="100%">
In Sydney (shown above), Airbnb offerings are mostly concentrated in popular tourist areas. Interestingly, partial house/apartment listings spread out more to the middle and fringe suburbs. Entire house/apartment listings are more concentrated around the city centre and eastern beaches.
<img src="https://cdn.theconversation.com/static_files/files/116/animation_Mel.gif?1526600836" width="100%">
We see a similar pattern in Melbourne (above). Airbnb listings aggregate around the city centre but also extend beyond the inner core to the residential outskirts. However, the composition of listings (entire versus partial) has less effect on their distribution in Melbourne than in Sydney.
Interestingly, the cities have very different Airbnb market sizes. The populations of the two regions are almost on a par, but Sydney has almost twice as many Airbnb listings as Melbourne. The difference in entire house/apartment listings is even greater.
Who is hosting Airbnb?
To understand who is participating on the Airbnb platform as host and who is not, we analysed Airbnb listings data against the Australian Bureau of Statistics Census-based SEIFA, the most widely used nationwide measure of socioeconomic status.
SEIFA is a suite of four summary measures created from Census information. For each index, every geographic area is given a SEIFA score. This shows how that area compares with others in Australia.
All areas are ordered from lowest to highest SEIFA score. This ranges from the lowest 10% of areas, which are given a score of 1, up to the highest 10%, with a score of 10.
Our analysis showed the sheer scale of inequity of Airbnb listings distribution. Over 95% of all entire house/apartment listings and about 87% of partial house/apartment listings (room only or shared room) in Sydney are in the socio-economically best-off areas (SEIFA deciles 9 and 10).
Airbnb offerings in Melbourne follow a similar pattern. Over 80% of entire house/apartment listings and about 70% of partial house/apartment listings are found in the best-off areas.
Our data analysis establishes that Airbnb hosting mainly occurs in the most affluent pockets of both regions.
What are the impacts on the rental market?
We also looked at the ratio of the size of the rental market to the size of Airbnb listings with specific attention to the socioeconomic status (using SEIFA) of each local government area in Melbourne and Sydney. This produced a few interesting observations, which help illustrate how local long term rental housing stock is, or could be, lost by conversion to Airbnb short-term listings.
In Sydney, there are no low socio-economic areas (SEIFA scores of 1-5) with high numbers of rental dwellings that also have high numbers of entire house/apartment Airbnb listings. This means that, to date, Airbnb is not displacing the rental stock in the most disadvantaged pockets of the Sydney metropolitan region.
Nevertheless, in a small number of high socio-economic areas (SEIFA scores of 8-10), the Airbnb market (entire listing only) represents sizeable proportions of the rental market. For the beachside location of Waverley (decile 10), for example, the number of Airbnb entire listings is almost equivalent to a quarter of the number of rental dwellings. Similarly, in Manly and Pittwater (both 10), Airbnb entire home listings are about 20% of the rental market size.
In other words, considering the very small size of Airbnb in comparison to the total rental market in Sydney – less than 3.5% – the overall impact can be expected to be minimal. However, the impact is not equally distributed, either geographically or socio-economically.
Indeed, the impact of Airbnb on the rental market is of concern in a limited number of areas in Sydney, mainly strategic tourism locations such as beachside areas. Although these are at the highest end of socio-economic spectrum, there is a danger of some local residents being pushed out of the most sought-after areas so tourists can move in.
The pattern in Melbourne is slightly different or, in a sense, less intense than in Sydney. Again, the general trend of high Airbnb listings in high socio-economic areas is observed.
The Melbourne CBD, which has a SEIFA score of 8, has the most Airbnb entire house/apartment listings. These listings represent the highest proportion, about 8%, when compared to the size of the local rental market. The pressure on the rental market, then, is far less than what we see in popular Airbnb spots in Sydney, such as Waverley, Manly and Pittwater.
We also see in Melbourne that popular rental areas in lower SEIFA areas have low numbers of entire house/apartment Airbnb listings. This confirms the Sydney hypothesis that the loss of rental supply is not yet a major concern at the lower end of the rental market.
The patterns we observed suggest that the pressure Airbnb puts on the rental market – at least at this point of time – is limited to a small number of high-end areas, mainly locations that are attractive to tourists. This represents a concern in terms of rental supply in these areas, where some local residents in the long-term rental market might be losing out to the short-term tourism market.
Tooran Alizadeh, Senior Lecturer, Director of Urban Design, University of Sydney
Reza Farid, Adjunct Research Fellow, Griffith University
Somwrita Sarkar, Senior Lecturer in Design and Computation, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/airbnb-whos-in-whos-out-and-what-this-tells-us-about-rental-impacts-in-sydney-and-melbourne-95865" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

What is Airnbn's impact on rental markets?

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The billionaire investor Alex Waislitz in considering launching a listed property fund.
It ill be modelled on his investment companies Thorney Opportunities and Thorney Technologies.
Waislitz, who has made his fortune from investing in ASX-listed small and mid cap companies, has shifted his focus to property over the past few years.
His private Thorney investment group has lent about $20 million to property developers with plans to lend more than $100 million, potentially through a new listed investment company or an unlisted fund revealed to the Australian Financial Review.
Thorney has also partnered in about $1 billion worth of property syndications deals across commercial, residential and industrial deals in the past five years.
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Billionaire Alex Waislitz considers launching a listed property fund

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A four bedroom house over 5 acres in Esk, a suburb in the South East Queensland, has been listed for sale at $299,000 by the mortgagees.
It is presented by Jocelyn Frost from LJ Hooker. It last sold at $234,000 in 2005.
<a href="https://www.realestate.com.au/property-house-qld-esk-128256590" target="_blank">Situated at 42 Aspen Drive</a>, the 1980s house comes with four good size bedrooms, open plan living/kitchen/dining, upstairs verandah and double garage space.
It is only 10 minutes from the shopping precinct of Esk, and 30 minutes from Gatton.
The suburb's median house price is $280,000, according to CoreLogic. 
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Esk, Queensland house listed by mortgagee

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<div>A new campaign is encouraging Australians to ’Own Your Banking.’</div>
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<div>Looking at the benefits of customer owned banking, the Customer Owned Banking Association launched the campaign following increased interest and demand from customers.  “Own Your Banking is a direct response to our members telling us they’ve seen an uptick in customer interest and enquiries because people are shocked by stories they’ve been hearing in the Royal Commission,” COBA CEO Michael Lawrence said. “Our model is the only alternative that can claim it is solely customer focused because 100% of profits are used to benefit customers. This is what we’re communicating through the ‘Own your Banking’ campaign. “Four million Australians already own their banking – they are customers of mutual banks, credit unions and building societies across Australia. “We hope ‘Own Your Banking’ will let consumers know there are plenty of alternatives in the Australian banking market that can be trusted to put them first.  “There are more than 70 mutual banks, credit unions and building societies located across Australia. We are market leaders in customer satisfaction and offer award winning home loans and low rate credit cards.</div>
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New campaign encouraging Australians to Own Your Banking

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The family members of Australia's sixth largest wine company, McWilliams Wines, are being asked to provide $15 million in a rights issue to bolster the company's weak balance sheet.
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McWilliams chief executive Jeff McWilliam said raising equity was a practical route because banks were still wary of the wine industry.
"I think their confidence in the wine industry is not there yet," he told the Australian Financial Review.
"We've had to become less reliant on debt funding".
<a href="https://cdn.mcwilliams.com.au/mcwilliams-wines-au/2018/05/15075950/McWilliams-Wine-Group-Ltd-Prospectus-14-May-18.pdf" target="_blank">Its recently lodged June 1 prospectus</a> for a 5-for-7 non-renounceable entitlement offer at 42¢ per share shows that McWilliams generated revenue of $100.7 million in 2016-17 but made a loss of $22.6 million before tax.
McWilliam’s is one of the pioneering wine entities within Australia which has been perfecting the winemaking craft since 1877, when founder Samuel McWilliam first planted vines on the banks of the Murray River in New South Wales.
With over 140 years of history, six consecutive generations of the McWilliam family have strived to be at the forefront of Australian wine innovation.
The Mount Pleasant winery was named Winery of the Year in the James Halliday Wine Companion 2017, and its 2011 Maurice O’Shea Shiraz was named Shiraz of the Year in the 2015 edition.
McWilliam’s is also the exclusive Australian distributor for Champagne Taittinger, Henkell, and Mionetto prosecco.
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The company continues to operate Hanwood Estate, as well as produce premium wines under the McWilliam’s and Mount Pleasant brands.
McWilliam’s also holds a 30% shareholding in MRWP, which is Margaret River’s largest contract processing facility and now controls Evans &amp; Tate.
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At the date of this Prospectus, McWilliam’s is 100% family-owned.
At the earnings before interest, tax, depreciation and amortisation (EBITDA) level, the loss was $14.3 million. Revenue in 2015-16 was $107.9 million, with an EBITDA loss of $167,000.
Revenue for the first half of 2017-18 was $48.8 million, while EBITDA was $5.63 million.
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<div>
<div id="article-inline-ad">Jeff McWilliam will shortly step down from the CEO role handing over to the former Parmalat executive David Pitt.</div>
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<div>The company had shifted its bottling line and packaging operations out of Sydney to the Riverina area. </div>
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<div>
The company was also working closely with corporate advisers Pendulum on a cost-cutting program to strip out $10 million of costs.
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The prospectus also outlines that $1.675 million of the proceeds will go towards the repayment of a loan to E&amp;J Gallo, the privately-owned United States wine giant, which held a small stake in McWilliams until late 2014.
Mr McWilliam said the company had been trying to lift itself out of the lower price point brackets and be less reliant on lower-priced commercial wine. "We've been trying to move away from sub-10 dollars to between 10 to 15 dollars," he said.
McWilliams Wines had been selling some of its products into China for 20 years.
Its exports to mainland China and Hong Kong represent about eight per cent of the company's total annual sales of $100 million.
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Banks still wary about wine industry lending: McWilliams boss

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Set on approximately 860 sqm land, a 1970s north-west Geelong house has been listed by mortgagees with an indicative selling price of $415,000.
It was listed by Brad Archer from Burns Archer Realty.
The Lara auction has been scheduled for June 16.
It sold at $200,000 in 2005.
<a href="https://www.realestate.com.au/property-house-vic-lara-128381554" target="_blank">Located at 19 Ponds Drive</a>, the home comes with three bedrooms, lounge, and kitchen with adjacent meals area. 
It is only a short stroll to the Kevin Hoffman Walk and its surrounding parklands with all other amenities.
The suburb's median house price sits on <a href="https://www.realestate.com.au/property-house-vic-lara-128381554" target="_blank">$445,000</a>, according to CoreLogic. 
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Lara three bedroom house listed by mortgagee

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All of the busiest suburbs for auctions on the weekend were in Victoria. Reservoir topped the list with 19 homes set to go under the hammer, followed by Bentleigh East and Mount Waverley with 14 auctions each.
A Reservoir four bedroom house with hopes for over $1 million (above) sold for $1.26 million.
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<a href="https://www.realestate.com.au/property-house-vic-reservoir-128199090" target="_blank">Located at 29 Queen St</a>, Reservoir, the house with city skyline with comes with four generous bedrooms, formal lounge, kitchen/meals with stainless steel cooker and adjoining living room.
Other features include gas heating and ducted evaporative cooling, wood heater (living room), high ceilings, laundry, and large storeroom/kitchenette.
It is within walking distance to buses, Regent Station and Plenty Road trams, local cafes and parks, and Preston Primary School. 
There was a higher sale at $1,332,000 according to the REIV.
<table><tbody>
<tr>
<td>2 Ashton St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/19d3ef48.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Barry Plant</td>
<td> </td>
</tr>
<tr>
<td>36 Callander St, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/560a5051.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>2/15 Cheddar Rd, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/259295.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>30 Dawson St, RESERVOIR</td>
<td>5</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/9f6c6038.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>23 Kia Ora Rd, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ab4503cd.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>21 Lloyd Av, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/19d3ef48.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>2/6 Mccrae St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/953d8ea5.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Barry Plant</td>
<td> </td>
</tr>
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<td>27 Moira Av, RESERVOIR</td>
<td>4</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/c492629f.jpg"></td>
<td>House (Res)</td>
<td>Passed in Vendor Bid</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>791 Plenty Rd, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ddd9262b.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Love &amp; Co</td>
<td> </td>
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<td>3/90 Purinuan Rd, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/5e91fe25.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>29 Queen St, RESERVOIR</td>
<td>4</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/9e344320.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>2/214 Spring St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/d6f4f25d.jpg"></td>
<td>Unit</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Stockdale &amp; Leggo Reservoir</td>
<td> </td>
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<td>47 Wattle Gr, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ceac3eb8.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>LJ Hooker South Morang</td>
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A clearance rate of 64 per cent was recorded on the weekend compared to 63 per cent last weekend and 80 per cent this weekend last year. 
There were 798 auctions reported to the REIV, with 512 selling and 286 being passed in, 153 of those on a vendor bid.
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Reservoir weekend auctions top out at $1,332,000

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The short-term rental management company MadeComfy has raised $6 million from the South African wealth group Investec.
MadeComfy manages properties for homeowner investors renting them out on short-term rental platforms such as Airbnb in return for a commission of 20 per cent or more.
David Phillips, the head of emerging companies at Investec, said its missed the Airbnb opportunity so instead are involved in MadeComfy.
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The new capital would allow MadeComfy to expand beyond its 500 properties in Sydney.
It now has around 100 properties under managements in Melbourne since it expanded last November.
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<div class="cq-article-content-media section">It is aiming to manage 3500 properties by 2020.</div>
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MadeComfy co-founder Quirin Schwaighofer said the company was prepared for any regulatory changes that might emerge after NSW government review of the home-sharing industry,
Fairfax media reported MadeComfy has partnered with the Dee Why branch of real estate agent Raine &amp; Horne and Belle Property agencies in Mosman and Neutral Bay to provide home management services to landlords who want to rent out their property on Airbnb rather than renting them out to long-term tenants.
MadeComfy is also experimenting with working with hotels partnering with the Ovolo hotel in Darling Harbour, which provides check-in service, free wi-fi and discounted breakfast for Airbnb guests who book through MadeComfy.
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The $6 million capital injection will make Investec the biggest minority shareholder in MadeComfy.
Mr Schwaighofer and co-founder Sabrina Bethunin will still have the majority stake in the company.
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<div class="cq-article-content-media section">Last year, the company raised $1.1 million from investors including former LinkedIn Australia chief executive Cliff Rosenberg.</div>
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Investec invests $6 million in MadeComfy

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Bellfield, a mixing farming property located 12 kilometres North of Dalby, a town in the Darling Downs region of Queensland, was sold on May 15.
It was sold by Roger Lyne and Andrew Kirtley from Ray White.
Positioned on a 2,012 hectares (approx 4,972 acres), <a href="https://www.propertyobserver.com.au/%20https:/www.realestate.com.au/sold/property-mixed+farming-qld-dalby-7931038" target="_blank">the 1251 Bunya Highway property</a> comes with 3,633 acres of cultivation over open downs soils and 1,309 acres of quality grazing for fattening or backgrounding.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/15/dalby%202.jpg" alt="">
The main homestead is circa 1900s and includes six bedrooms.
It also comes with six equipped bores and four earth dams to supply water to the property.
Other features include five cottages, sheds, silos, barns, two cattle yards and extensive stable complex. 
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Dalby mixed farming opportunity hits the market

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A Sandy Bay three bedroom house with historic significance serving as the coach house for the Mawhera Estate in the 1880s has been sold for $3.1 million.
Renovated in the 1960s by the current owners, the <a href="https://www.realestate.com.au/sold/property-house-tas-sandy+bay-128086170" target="_blank">504 Sandy Bay</a> house was featured on the cover of a 1968 copy of Australian Home Beautiful.
The lower level with views of the Derwent River features proportioned lounge-room, north-facing patio, and kitchen with the access to the patio.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/15/sandy%20bay%202.jpg" alt="">
The upper level comes with two large bedrooms and a sitting room both with water views, and a large bathroom. On the upper level are two large bedrooms and a sitting room, each with windows designed to capitalize on the water views. A large bathroom completes the accommodation on this level.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/15/sandy%20bay%203.jpg" alt="">
From Sandy Bay Road, secure wrought iron gates provide access to a garage and additional off-street parking; whilst on the river side, paths and steps meander through gardens to two boathouses on the water's edge and a semi-private beach.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/15/sandy%20bay%204.jpg" alt=""> 
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Historic Sandy Bay trophy home listing sold at auction

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

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[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

Staff reporter

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