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<h1>Three charts on: the great Australian wealth gap</h1>
Young Australians still remain locked out of the housing market as the wealth disparity grows across generations. <a href="https://theconversation.com/profiles/trent-wiltshire-316914"> </a>
It’s a tale of two Australias: older Australians are getting much wealthier, and the young are being left behind.
It’s a story only too familiar to Australians under 45 who have struggled to save enough money to access the housing market in Australian cities. They are a generation for whom the great Australian dream of home ownership has become largely elusive.
<a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6523.0Main+Features12015-16?OpenDocument" target="_blank">Data</a> from the Australian Bureau of Statistics (ABS) shows that older Australians are capturing an increasing share of the nation’s wealth, and the house-price boom is a major cause of the growing divide between the generations.
As you can see in the following chart, households headed by 65-74-year-olds were on average A$480,000 wealthier in 2015-16 than households in the same age group 12 years ago. And that’s after taking inflation into account and despite the damage caused by the global financial crisis. Households headed by 45-54-year-olds are A$400,000 richer.
In contrast, households headed by 35-44-year-olds are on average only A$120,000 wealthier – and for 25-34-year-olds the figure is just A$40,000.
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<h2>Property is a key factor for wealth disparity</h2>
Soaring property prices are a major factor behind the rapidly growing wealth of older Australians. According to the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6416.0Main+Features1Jun%202017?OpenDocument">ABS</a>, house prices grew by 37% on average across all the capital cities between 2003-04 and 2015-16 (and by more than 50% in Melbourne alone). The boom was not limited to the capitals; prices also grew strongly in <a href="https://www.corelogic.com.au/reports/CL_Housing-Affordability-Dec_2016.pdf">regional areas</a>.
The next chart shows that for households headed by someone aged 75 or over, greater property wealth contributed about three-quarters of the increase in their total net wealth. For households headed by 65-74-year-olds and 55-64-year-olds, property contributed about half of the total increase in wealth.
But for younger Australians, again it is a different story.
Bigger mortgages largely offset the increase in property wealth for households headed by 25-34-year-olds and 35-44-year-olds. Baby Boomers have also used the superannuation system to build their wealth. They took advantage of the <a href="https://grattan.edu.au/wp-content/uploads/2015/11/832-Super-tax-targeting.pdf" target="_blank">generous super tax breaks</a> on offer for people nearing retirement, such as the ability to put large, concessionally taxed sums into their super funds just before retirement.
Average superannuation wealth over the same 12-year period increased by A$230,000 in real terms for households headed by 65-74-year-olds, and by more than A$150,000 for households headed by 55-64-year-olds. Strong <a href="https://au.investing.com/indices/s-p-asx-200-net-total-return-historical-data" target="_blank">share market returns</a> have further boosted superannuation balances and other financial wealth.
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<h2>Young people locked out</h2>
As property prices have boomed, more young Australians have been locked out of home ownership.
As this last chart shows, home ownership rates among households headed by 25-34-year-olds fell between 1981 and 2016, from more than 60% to 45%. For households headed by 35-44-year-olds the fall was from 75% to around 62%. Home ownership rates are also falling for households headed by 45-54-year-olds.
Some of these falls are also partly the result of social changes: Australians are waiting until later in life before starting work, forming long-term partnerships, and having children. But most Australians still want to own a home, so it is reasonable to conclude that higher property prices are the <a href="https://www.rba.gov.au/publications/rdp/2017/2017-05" target="_blank">biggest cause</a> of lower ownership rates.
Two-thirds of 25-34-year-olds responding to a 2017 <a href="https://politicsir.cass.anu.edu.au/sites/politicsir.anu.edu.au/files/ANUpoll-24-Housing-2017.pdf" target="_blank">Australian National University survey</a> thought owning a home was an important “part of the Australian way of life”, and more than half were “very concerned” that younger generations won’t be able to afford a house.
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<h2>The bank of mum and dad</h2>
The wealth divide between generations can easily lead to a more profound divide within generations. For many younger people, the only way that they can afford to buy a house is with help from “the bank of mum and dad”.
As house prices have increased, <a href="https://www.rba.gov.au/speeches/2017/sp-ag-2017-02-16" target="_blank">more first home buyers are receiving assistance</a> from family and friends to enter the property market. The strong growth in the wealth of today’s older generations, combined with the steady shrinking of the family size from 1960 to 2000, will lead to more and larger inheritances.
Inheritances tend to transmit wealth to children who are <a href="https://grattan.edu.au/report/the-wealth-of-generations/" target="_blank">already well-off</a>, and home ownership is more likely among those who receive an inheritance, and more likely still among those who receive larger inheritances.
<img src="https://counter.theconversation.com/content/84515/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Australia is becoming wealthier, but much of the increase is concentrated in the hands of older generations. The trend is unmistakable: unless something changes, the young will fall further behind and inequality will get worse.
<a href="https://theconversation.com/profiles/trent-wiltshire-316914" target="_blank">Trent Wiltshire</a>, Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a> and <a href="https://theconversation.com/profiles/danielle-wood-147710" target="_blank">Danielle Wood</a>, Fellow, Australian Perspectives, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/three-charts-on-the-great-australian-wealth-gap-84515" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

The great Australian wealth gap

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Dwellings with price tags above $1 million where there are no Chinese buyers in the market are the most vulnerable to price falls, in the spring selling season, according to the business columnist Robert Gottliebsen.
"We are watching a concentrated squeeze on the housing market the like of which we have not seen for a long time," he advised his readers in The Australian.
Large areas of the dwelling market are looking soft, particularly in Sydney and Brisbane, partly as a result of tighter bank credit in recent months on investors, he suggested.
"The bank finance squeeze is set to get tighter as several banks are becoming much more serious in implementing an APRA-imposed lending curb on residential homebuyers."
Gottliebsen says an important issue is that many buyers who entered into large loans in the recent past believed their income would rise.
"Not only has it not increased but there is now greater job insecurity and this is lifting stress levels.
"Falls in the price of dwellings will lift those stress levels," he said.
"The great risk is that as prices start falling there will be a bank panic, which tightens lending further.
"I don’t think this will happen this time because hopefully the banks understand that their liberal lending policies are a key reason the prices of dwellings have risen so far.
"Obviously there have been other forces, including supply restrictions, but if the banks cause severe price falls it will lift the levels of bank problem loans and reduce activity in the building industry.
"They are trapped," he concluded.
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Spring's most vulnerable property markets: Robert Gottliebsen

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The Tamarama home of sports and entertainment manager, Basil Scaffidi and his wife Catherine has been snappily sold for a suburb record $11.2 million.
The Thompson Street home, known as Pavilion House, edged out the $11 million Built chairman Marco Rossi and his partner Stephanie Stokes paid in 2008.
Scaffidi, the Bronte Surf Club president, paid $3,625,000 in 2005 for the property overlooking the beach and commissioned Walter Barda to design the residence on 390 sqm in 2012.
<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/2017/10/05/Pavilion1.jpg" alt="">
Spanning three levels with internal lift, the Hampton-style sandstone and timber home has five bedrooms, a home theatre, gym, 500 bottle wine cellar and a resort-style pool.
Scaffidi co-founded Sports and Entertainment Limited with James Erskine, Tony Cochrane and the late David Coe.
This article was first published in the Saturday Daily Telegraph.
<a href="https://www.domain.com.au/real-estate-agent/alexander-phillips-1133128/" target="_blank"> </a>
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Bronte Surf Club president sells Tamarama trophy home for suburb record

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The top 150 real estate sales performers across all markets in Brisbane and Queensland regional centres has been released.
The A List initiative was established five years ago by the Ray White Group, with the data is sourced and verified by Pricefinder.
The list of 150 agents uses sales data from the 16,500 registered salespeople based on three criteria; number of sales, value of sales and the number of listings for the previous calendar year.
The data found that one in eight properties in Queensland were sold by an A Lister in 2016, who make up just 2.2 per cent of all active agents.
They sold 12.4 per cent of all Queensland properties in 2016 typically with 45 sales against the average salesperson in Queensland making seven sales.
The average sales person in Queensland had a total sales value of $3.6 million but A-Listers averaged $23 million.
All up the 150 A List salespeople made 6831 sales, worth $3.4 billion in 2016.
Vicki Hodges of PRDnationwide Bundaberg, Jane Doogan of LJ Hooker Nerang, Judy Eddy of Action Realty, Harcourts Kingsberry Townsville agent Julie Mahoney, Nyree Ewings of LJ Hooker at Cleveland, Judi O’Dea of SPACE Property Agents Paddington, Sam Guo of Ray White Broadbeach, Dion Saab of Coronis Bracken Ridge, have all been on the list for five years in a row.
All 150 agents on the A List, sponsored by Mercedes Benz Brisbane, will gather together on 21 November 2017 in Brisbane.
2017 A Listers.
Listed in alphabetical order / not rank.
Aaron Woolard – Place New Farm Adam Cook – Yeppoon Real Estate Aidan Wales – Ray White Ipswich Alex Stassen –  Harcourts M1 Alex Telegin – Coronis Burpengary Alexandra Porter – Coronis Aspley Alli  Paterson – Freemans Residential Allison Gough – Explore Property Townsville Amanda Cepero – First National The Pines Andrew Dobbie – Ray White Beerwah Andrew Weston – Place Projects Andy Hogarth – McGrath Palm Beach Angela Duncan – Ray White Aspley Angela Mastrapostolos – Ray White Paddington Ann Vella – Raine &amp; Horne Beenleigh Barbara Harris – Ray White Rockhampton Ben Leong – LJ Hooker Sunnybank Hills Benjamin Hyrapietian – Kindred Property Group Brad Munro – Position Property Project Marketing Brad Scott – All Properties Group Brad Sissons – Coronis Coorparoo Brett Anderson  – Hillsea Real Estate Paradise Point Cain Scheiwe – Page &amp; Pearce Cameron Cole – Re/Max Excellence Cara Bergmann – Ray White Aspley Carmen Briggs – Harcourts Solutions Catherine White – Harcourts Pinnacle Chris Rhode – Coronis North Lakes Chris Wease – LJ Hooker Woodford Christine McKay – Harcourts Solutions Christopher Hubka – LJ Hooker Algester Clare Dawson – Raine &amp; Horne Tin Can Bay Clare Robins – Ray White Deception Bay Clint Hynes – Ray White Oxenford Clint Smith – McGrath Noosa Heads Craig Johnston – David Deane Real Estate Daniel Burrett – RE/MAX Success Danny Woolbank – Ray White Broadbeach Darrell Johnson – Knobel &amp; Davis Property Services Darren Bonehill – Place Coorparoo Dave Cooper – Positive Property People David Brown – LJ Hooker Coomera David Kopelke – Ray White Warner Dean Dank – Explore Property Townsville Dean Hamilton – LJ Hooker Stafford Debbie North – Elders Cairns Deon Calder – Coronis Mooloolaba Dion Saab – Coronis Bracken Ridge Dwight Colbert – Ray White Aspley Ed Hollingworth – Century 21 at the Pier Ela Milne – Ray White Eight Mile Plains (Eddie) Fai Nguyen Ly – Red Rocket Gary Kowaltzke – Ray White Toowoomba Range George Vuong        – RE/MAX Profile Georgia Tritton – Ray White Southport Georgie Haug – Belle Property Samford Heather Murray – Jan Jones Real Estate Ian Cuneo – Ray White Ascot Ilona Barry – LJ Hooker Robina Varsity Jack Harvey – Coronis Bracken Ridge Jacq Hackett – Coronis Springfield Lakes Jacqueline Farag – Elders Hervey Bay Jacqui Walker – RE/MAX Success James Gwynne – Harcourts Solutions Project Marketing Jamie Baker – Ray White Birkdale Jane Doogan – LJ Hooker Nerang Jared Young – Amber Werchon Property Jason Read – LJ Hooker Coomera Jayne Finlay – Page &amp; Pearce Jeanny Boyd – Coronis Burpengary Jess Nguyen – All Properties Group Jo  James – LJ Hooker Ipswich Joan Robb – RE/MAX Real Estate Services John McEwan – Bambling Property John Ryland – Professionals Cairns South Jonathan Wein – LJ Hooker Albany Creek Josie Smith – Crowne Real Estate Judi O’dea – SPACE Property Agents Indooroopilly Judith Crawford – Ray White Clayfield Judy Eddy – Action Realty Julie Mahoney – Harcourts Kingsberry Townsville Julie Munro – Ray White Townsville Justin Hagen – Calibre Real Estate Justine Dill – RE/MAX Success Kate Pade – PRDNationwide Toowoomba Kyle Davies – Henzells Agency Kym Saunders         – LJ Hooker Brisbane West Lee Doyle – LJ Hooker Kallangur Lee Sutherland – RE/MAX Property Sales Liam Booker – LJ Hooker Kallangur Lincoln Tatnall – Coronis North Lakes Lisa Etri – Ray White Rochedale Liz Brown – Ray White Rural Atherton Mal Lucas – Elders Morayfield Mark Daniel – Explore Property Mackay Mark Flinn – Ray White Port Douglas &amp; Mossman Mark Jensen – Ray White Palm Beach Mason Niari – Hillsea Real Estate Paradise Point Matt Boettcher – Yong City West Matthew De Maid – Belle Property Toowoomba Matthew Jabs – Place Newmarket Megs Walker – McGrath Cairns Melita Bell – RE/MAX Success Michael Folkard – LJ Hooker Nerang Michael Loader – Australian National Properties Michael Mills – Denovans Real Estate Michelle McLeod – Ray White Indooroopilly Michelle Wheeler – Harcourts North Lakes Nadine Edwards – LJ Hooker Cairns Edge Hill Narelle Lorensen – Place Nundah Nathan Strudwick – Elders Shailer Park Neil Mundy – Ray White Ipswich Nick Baxter – Ray White Benowa Nicole Devine – SPACE Property Agents Indooroopilly Nicole Plozza – Ray White Douglas Nyree Ewings – LJ Hooker Cleveland Patrick Kenny – Ray White Cairns South Patrick McKinnon – Coronis Hamilton Peter Houliston – LJ Hooker Cleveland Phil Edmunds – One Realty Maryborough Renae Duff – Elders Jimboomba Rob Karaka – All Properties Group Rob Williams – David Millar Real Estate Robbie Witt – Colliers International – Toowoomba Robert Taylor – PRDNationwide Whitsunday Robert Waterson – Hillsea Real Estate Parkwood Rory Wex – Cooke Property Agents Sam Guo – Ray White Broadbeach Sam Hargrave – Hargrave Real Estate Sharee Minnett – First National Toowoomba Shaun Bourke – Harcourts Coastal Shirley Chow – LJ Hooker Sunnybank Hills Shona McKenzie – Coronis Springwood Simon Booker        – LJ Hooker Kallangur Simon Salm – RE/MAX Bayside Properties Sonia Poole – Ray White Cairns Beaches Sonya Treloar – Ray White Bridgeman Downs Steve  Lane – Coolum Beach Realty Steve Venn – Harcourts Caloundra Steven James – LJ Hooker Gladstone Stuart Legg – RE/MAX Agency Stuart Thomas – McGrath Buderim Tait Batton – Coronis Springfield Lakes Todd Gerhardt – RE/MAX Advantage Tracey Child – All Properties Group Vern Gilbert – Plum Property Vicki Hodges – PRDNationwide Bundaberg Will Torres – Place Coorparoo Will West – Lacey West Zora Liu – LJ Hooker Sunnybank Hills
Source: Pricefinder, 2017.
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Eight Queensland estate agents rank on top 150 sales list for five consecutive years

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 The high-profile Sydney Inner West agent Michael Glynn has moved to The Agency, which claims to be Australia’s fastest growing agency network.
It comes after <a href="https://www.realestate.com.au/agent/michael-glynn-68688" target="_blank">23 years with McGrath</a> Estate Agents.
"Michael has an uncanny ability to calmly and confidently guide his clients to the best outcome and is renowned for these results,” Matt Lahood, CEO The Agency said.
Michael Glynn has focused on Sydney’s high-end, western inner city fringe markets, responsible for selling some of the most expensive and historically important homes within these postcodes such as Glebe.
Glynn said The Agency presented an exciting path with the view of delivering a better level of service to the market.
"I knew my clients would respond to and benefit from this service,” Michael Glynn says.
“I’ve worked with many of the people behind and at the forefront of the business, and so I have the confidence and belief that we can work in a meaningful, positive and genuine way together.”
According to Michael Glynn, many companies pay lip service to collaboration but in reality agents end up siloed.
The Agency strongly encourages referrals between agents, Lahood said.
“We have many agents who have never worked together before sharing referrals and even co-listing.
“This is The Agency’s culture – supportive, collaborative and cohesive – and it is how we deliver the best service to clients and give agents the best experience.”
The announcement follows the decision of Bethwyn Richards to leave McGrath for The Agency which is expected to be announced later this week.
The Agency is part of Ausnet Financial Services, formerly Namibian Copper which provides finance broking, real estate services, settlement services, property management, project marketing, insurance and financial services.
It was initially based just in the Western Australian market with an aim to be rolled out nationally.
After relisting on the ASX late last year it is trading at just below its 2 cents issue price with a $10 million market cap.
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Michael Glynn quits McGrath for The Agency

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A modern well-appointed South Hedland home has been sold by mortgagees for $280,000.
It was a two storey, four bedroom, three bathroom family home.
Monique Anlezark, the Hedland Property Shop agent, <a href="https://www.realestate.com.au/sold/property-house-wa-south+hedland-125479478" target="_blank">listed it in May at $300,000</a>.
The 2001-built home was offered as a $650 a week rental in 2016.
It had previously been a rental offering in the mining boom when around $1750 was sought.
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$1250 a week South Hedland rental sold by mortgagee at $280,000

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Colliers International (SA) will be closing its residential sales division.
It comes after two key staff left suddenly to set up on their own firm.
James Young, chief executive with Colliers (SA) said the departure of Nick Pelvay and James Polacek was disappointing.
“We won’t be moving forward with residential,” he told the local paper.
“We backed a team in, gave them 100% support and invested a lot of time and effort. I felt it was the right team. We will be closing residential down for the time being. Unfortunately they have decided that life on their own is more to their liking.”
Pelvay advised he'd have retained the contracts for the projects at East End Living and The Adelaidean.
"There are also a couple more to be announced,” Pelvay said.
The new sales company is to be called ‘Projected’ .
Construction at The Adelaidean on Frome Street will begin next month while the demolition at the East End Living site at 293 Pirie St begins this week.
Mid-year a sub-penthouse apartment at The Adelaidean sold off the plan for more than $3 million.
The apartment, designed by architects Brown Falconer, is the amalgamation of two apartments on sub-penthouse level 34, and measures more than 300 square metres.
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Colliers vacates Adelaide off the plan sales space

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A local investor has beat 20 other bidders to the $2.35 million purchase of the former Bank of New South Wales premises at 375 Queen Street, Melbourne.
Colliers International, in conjunction with Knight Frank brokered the packed boardroom auction sale last month.
More than 200 enquiries were generated for the A-grade heritage-listed freehold, with the majority of interest came from locally based investors.
“The extensive interest was due to the highly affordable price point,” one agent said.
It transacted at $11,500 per square metre of land.
The 350 square metre property, which is located on the corner of Queen and Franklin streets, metres from Queen Victoria Market, was subject to a council order for emergency repairs in late 2016.
It features high ceilings, ornate finishes and classic period architecture but has fallen into disrepair since its construction in the 1860s.
The investor said they have plans to restore the building to its former glory.
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Local investor secures decaying 1860s Melbourne bank premises

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A waterfront Palm Beach house has been listed for sale by the Pongrass family.
Nick Pongrass, who heads Pongrass Properties, and his wife Leigh, hold $5 million hopes.
Located at <a href="https://www.realestate.com.au/property-house-nsw-palm+beach-126453150">9 Thyra Road</a>, the 575 square metre property has a strongly influenced BKH design while retaining an old style beach feel.
It has been featured in numerous design publications.
Built in 1940, it last sold in 2006 for $4,278,225 when bought from former finance executive John Mills and Greg Clark.
It features an open plan design with indoor/outdoor living spaces with sandstone feature walls and bifolding glass walls.
<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/2017/09/20/9%20Thyra%20Road-2.jpg" alt="">
The bedrooms, study and bathrooms have the feel of a boutique hotel while the kitchen is sleek and streamlined.
There is also a DA approved plans for a double garage and self-contained studio.
It comes with self-contained boat shed with ramp and pool on Pittwater.
The property is offered through Michael King of LJ Hooker.
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Pongrass family list waterfront Palm Beach house

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A riverfront Hawthorne house has sold for $2.12 million making it Brisbane’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-hawthorne-126273230" target="_blank">33 Aaron Avenue</a>, the 683 square metre property has views of both the river and city.
Built in 2005 it last sold for $2,125,000 in 2014.
It features three levels with the first floor containing large living and kitchen areas that opens to the undercover alfresco and pool area.
The kitchen has European stainless steel appliances, gas cook top, intergrated coffee machine and granite benchtops.
Upstairs features additional living areas well as a separate study that leads to the river-view terrace.
<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/2017/10/01/33%20Aaron%20Avenue-2.jpg" alt="">
The other bedrooms all have their own built-in robes, while the master bedroom has its own ensuite and walk-in robe.
A large rooftop terrace is also featured upstairs.
Other features includes a four car garage with enough space for a gym.
Oxford Street and Hawthorne areas are minutes away while the CBD is five kilometres from the property.
The property was offered through Michael Clarke and Alex Donnan of Ray White.
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Riverfront Hawthorne house sold for $2.12 million

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

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Alfred Street the latest North Sydney pocket to be transformed by residential development

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]

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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[smartcode_project_cta:default project_id=145590]

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