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A two bedroom Footscray apartment has sold for $455,000 making it Melbourne’s cheapest long weekend auction sale.
The apartment at <a href="https://www.realestate.com.au/property-apartment-vic-footscray-126289306" target="_blank">8/155 Gordon Street</a> was being marketed as the “ideal low maintenance” property with price expectations between $450,000 and $490,000.
It last sold for more - in 2012 for $460,000.
The apartment was offered as a $360 a week rental earlier this year, having been offered in 2013 at $400 a week.
It features a living and dining area that leads to a courtyard along with a kitchen complete with stainless steel gas appliances.
There are two double sized bedrooms both having their own built-in robes while a third room is suitable as either a study or separate living room.
Other feature includes an undercover car space.
The property is within close proximity to public transport, shops and cafes.
The property was offered through McGrath.
The neighbouring three bedroom 80 sq m apartment followed a roughly similar path too, having sold at $460,000 recently.
It had last sold in 2012 at $450,000.
It was offered as a $390 a week rental recently, having been offered at $410 a week in 2012.
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j.ballantyne1990-6AQqhLzZaK

Two bedroom Footscray apartment sold for $455,000 - and small loss

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A Mosman house with harbour views has been listed for $4.7 million.
The home at <a href="https://www.realestate.com.au/property-house-nsw-mosman-126452922" target="_blank">16 Illawarra Street</a> has views over Sirius Cove and all the way to the eastern suburbs.
The home has four bedrooms and a study and is set within established gardens.
<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/2017/09/20/16%20Illawarra%20Street-2.jpg" alt="" style="font-size: 12.16px;">
The 784 sqm parcel was last sold in 2001 for $1.28 million before the home was built it 2007.
The property is offered through Vernon Partners agents Adam Vernon and Mitchell McClintock.
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Mosman house with harbour view listed for $4.7 million

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<div>
<h1 class="page-title">Statement by Philip Lowe, Governor: Monetary Policy Decision</h1>
<div class="rss-mr-content">
At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.
Conditions in the global economy have improved. Labour markets have tightened and above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy is being supported by increased spending on infrastructure and property construction, with the high level of debt continuing to present a medium-term risk. Australia's terms of trade are expected to decline in the period ahead but remain at relatively high levels.
Wage growth remains low in most countries, as does core inflation. Headline inflation rates are generally lower than at the start of the year, largely reflecting the earlier decline in oil prices. In the United States, the Federal Reserve has indicated that it will begin the process of balance sheet normalisation in October and that it expects to increase interest rates further. In the other major economies, there is no longer an expectation of additional monetary easing. Financial markets have been functioning effectively and volatility remains low.
The Australian economy expanded by 0.8 per cent in the June quarter. This outcome and other recent data are consistent with the Bank's expectation that growth in the Australian economy will gradually pick up over the coming year.
Over recent months there have been more consistent signs that non-mining business investment is picking up. A consolidation of this trend would be a welcome development. Business conditions as reported in surveys are at a high level and capacity utilisation has risen. A large pipeline of infrastructure investment is also supporting the outlook. Against this, slow growth in real wages and high levels of household debt are likely to constrain growth in household spending.
Employment has continued to grow strongly over recent months. Employment has increased in all states and has been accompanied by a rise in labour force participation. The various forward-looking indicators point to solid growth in employment over the period ahead, although the unemployment rate is expected to decline only gradually over the next couple of years.
Wage growth remains low. This is likely to continue for a while yet, although the stronger conditions in the labour market should see some lift in wage growth over time. Inflation also remains low and is expected to pick up gradually as the economy strengthens.
The Australian dollar has appreciated since mid year, partly reflecting a lower US dollar. The higher exchange rate is expected to contribute to continued subdued price pressures in the economy. It is also weighing on the outlook for output and employment. An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.
Growth in housing debt has been outpacing the slow growth in household incomes for some time. To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures. Following some tightening in credit conditions, growth in borrowing by investors has slowed a little recently. In the housing market, conditions continue to vary considerably around the country. Housing prices have been rising briskly in some markets, while in others they have been declining. In Sydney, where prices have increased significantly, there have been further signs that conditions are easing. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. Rent increases remain low in most cities.
The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
Click here to read the statement <a href="https://www.rba.gov.au/media-releases/2017/mr-17-21" target="_blank">on the RBA website.</a>
</div>
</div>
<div class="box-enquiries"> </div>
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Why rates have stayed on hold: Philip Lowe's RBA September 2017 statement

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Investor lending at Australian banks has dipped, according to the latest figures from the Australian Prudential Regulation Authority(APRA). APRA’s statistics show a $1.57trn total loan books of banks during August, a slight decrease of 0.1% from $1.58trn in July.
The drop was due to a decrease in investment lending with total investment loan books at the banks dropping by $3bn - around 0.5 percent from $553bn to $550bn.
Owner occupier lending rose slightly by $1.3bn (or 0.1%) from $1.022trn to $1.024trn in the same time period, Australian Broker noted.
The big four banks held $1.30bn in August which reflected 82.5% of the total market share. The owner occupier loan books of the big four sat at $830bn in August (81.0% of total market share) while investment lending sat at $472bn (85.4% of total market share). APRA’s figures for the four major banks and the largest non-major banks are as follows:
<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/2017/10/03/Table.jpg" alt="">
APRA does not re-adjust for re-classified loans. By contrast however Australian Broker also noted the Reserve Bank of Australia’s (RBA’s) monthly financial aggregates show that overall lending volumes continue to increase with total housing credit growing by 0.5% from July to August and by 6.6% year-on-year.
The RBA estimates that $58bn worth of loans was switched from investor to owner-occupier between July 2015 and August 2017.
Some $1.7bn was moved in August 2017, the website noted.
 
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Investor lending dips, as loans get switched over to cheaper owner-occupier: APRA/RBA updates

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<div>
Hong Kong retail group Glorious Sun has acquired an entire office building on Melbourne's city fringe for $42 million.
The property at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502516710" target="_blank">324 St Kilda Road</a>, near Dorcas Street, was bought from the WA-based investment manager Lester Group.
The fully leased eight-level building has tenants including Wesfarmers with a weighted average lease expiry of five years.
With its net annual income of about $2.45 million, the early 1980s building sold on a yield of 5.8 per cent.
"The implementation of the Melbourne Metro Rail Project has improved confidence in the St Kilda Road area, resulting in increased momentum from investors in the precinct due to expected upward pressure on rents from the significant infrastructure project," JLL's Langton McHarg said.
</div>
<div>Vacancy has been tightening on St Kilda Road with eight office blocks withdrawn from the St Kilda Road office market over the last five years totalling 71,693 sq m, leaving 672,950 sq m in available stock, JLL Research shows. Four more are likely to be withdrawn over the next two years, JLL suggests.</div>
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St Kilda office building snapped up by Hong Kong retail group for $42 million

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Michele Bullock, the RBA assistant governor, says the central bank is carefully monitoring the high levels of household debt fuelled by by rising house prices and low interest rates and regulators are looking to mitigate some of that high-risk lending areas through prudent steps.
Speaking at "Where to from here?", a panel discussion hosted by Lander &amp; Rogers and Westpac, Bullock said the core focus of the RBA was financial stability.
She made her point by addressing the issue of the resilience of banks and the resilience of households.
Bullock said APRA's prudent steps such as putting a "speed limit" on lending to investors had a definite effect on prices but that the housing market had started to rise again this year and further measures had to be taken such as capping interest-only loans at 30 percent.
She spoke about the increased oversight of APRA in monitoring the risks that banks were taking on. The purpose of these measures was "to bolster the lending quality of the banks so that the assets they had in these mortgages were well secured and lending was prudent,” she said.
Earlier this year, Bullock had said that the RBA was "prepared to do more if needed,” to check any risk from the housing market to the economy.
Back in 2014, lending to property investors was rising “very sharply” and this was an environment where house prices were rising… in Sydney and Melbourne particular, prices were rising about 20 percent annually” which was viewed as a systemic risk by the regulatory bodies.
She said it was possibly exacerbating demand, particularly for new apartments, and “all banks were increasing their exposure to housing” which meant that “if the market turned down, all banks would be affected”.
She pointed out that a substantial portion of lending was interest-only loans which was “a riskier type of lending because peopler aren’t reducing their loan-to-value ratios”.
In such a scenario, regulators had to act and said that no more than 30 percent of bank loans could be IO loans.
“Investors might be introducing more risk by exacerbating cycles in house prices, so if investors are chasing capital gains, they might be spurred on by rising house prices and then if any slowdown occurred that could affect sentiment and they could do the same on the downside,” she said. 
“It’s not their home, so they’re not going to be desperate to hang on to it, so if house prices decline, they might just get rid of it.”
Bullock said the risk from a property market decline would not only affect investors, but also owner occupiers. For owner occupiers the risk was because many were sitting on high debt, if prices fell, the value of their debt would be higher than the value of their property.
“House price per se isn’t the issue, it’s rather what the house price growth might be reflecting in behaviours and introducing risks in the sorts of debt and sorts of behaviours that people are taking on," said Bullock.
She said many households may have stretched themselves to get on the property ladder, while at the same time incomes weren't rising quickly.
“So you’ve got rising debt, rising quite quickly because house prices are rising so people are having to take on more debt but their incomes aren’t rising as quickly, so the debt-to-income ratio is actually rising,” which was a source of worry for the RBA.
On the bright side, though debt servicing was being supported by low interest rates at the moment but the question was "what happens if interest rates start to rise in these circumstances?”
She said that improved lending standards introduced by APRA such as asking banks to put in interest rate buffers…"so banks are assessing serviceability not only on the current interest rate people are paying but with an interest rate with a buffer in it, so about 7 percent as opposed to about 4 percent" was a confidence-building measure in the system.
"This would mean that households would have an increased resilience to increase in interest rates."
 Bullock also said that lots of households have buffers, such as offset accounts, redraw facilities, so they’ve “got a little bit of flex over how much they’re paying”.
"Also, the fact though average debt is high, a lot of debt is held by high income households, so that also gives us a little bit of confidence," but at the same time, high levels of debt does leave households vulnerable to shocks.
Bullock said that when interest rates do rise in Australia, they’re likely to impact consumption in a different sort of way, so this is something that the RBA will have to take into account.
 
 
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Housing-fuelled household debt remains a worry, says RBA's Michele Bullock 

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The long weekend saw significantly fewer auctions, according to CoreLogic’s latest report.
The property data firm says that the clearance rate held firm.
The combined capital cities saw significantly fewer auctions this week, with a total of 953 auctions held; the lower activity a result of most states being host to a long weekend as well as both the AFL and NRL grand finals taking place.
Despite lower auction volumes, clearance rates held firm, returning a preliminary result of 69.4 per cent, rising from the 66.2 per cent last week when final results saw volumes reach their highest level since May this year (2,782).
<a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.00%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-10-01%20at%2011.34.00%20am.jpg" alt="">
Melbourne was the main driver of the strong clearance, with a preliminary result just under 90 per cent.
Over the same week last year, activity was equally subdued, with 872 auctions held and 75.8 per cent successful.
<a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.10%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-10-01%20at%2011.34.10%20am.jpg" alt="">
Brisbane was the only capital city to see a rise in volumes week-on-week.
Melbourne saw the most significant drop in volumes this week, with only 118 auctions held.
With such a low volume of auctions held, the preliminary auction clearance rate bounced higher to reach 89.4 per cent, rising on last week’s 70.6 per cent across a much higher 1,361 auctions.
While one year ago, 114 auctions were held and an 87.2 per cent clearance rate were recorded.
<a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.21%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-10-01%20at%2011.34.21%20am.jpg" alt="">
The busiest sub-region this week was Melbourne’s West, despite the grand finals slowdown the region recorded a preliminary auction clearance rate of 92.0 per cent across the highest volume of auctions (32).
In Sydney, 597 auctions were held this week, down from 1,033 over the previous week, however higher than the 530 auctions held over the corresponding week last year.
The preliminary clearance rate of 69.1 per cent is up from the 65.9 per cent last week, and lower than the 82.5 per cent one year ago.
<a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.27%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-10-01%20at%2011.34.27%20am.jpg" alt="">
Across the Sydney sub-regions, the Northern Beaches region recorded the highest rate of clearance with 87.0 per cent of the 64 auctions clearing, while the Northern Sydney and Hornsby region held the most auctions (79).
Brisbane’s preliminary auction clearance rate this week was 48.3 per cent, down slightly from 48.7 per cent the week prior.
Auction volumes increased week-on-week, with 140 auctions held, up from the 126 last week and higher than the 115 one year ago when 43.8 per cent cleared.
<a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.35%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-10-01%20at%2011.34.35%20am.jpg" alt="">
Across the Gold Coast, 25.9 per cent of the 27 reported auctions were successful.
A total of 40 Adelaide homes were taken to auction this week, recording a preliminary auction clearance rate of 79.3 per cent across 29 results, up from 75.7 per cent over the same week last year when 45 auctions were held across the city.
<a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.42%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-10-01%20at%2011.34.42%20am.jpg" alt="">
In Perth, only 13 auctions were held this week, recording a preliminary clearance rate of 75.0 per cent across 8 results, which is higher than both last week’s result (28.2 per cent) and the clearance rate from one year ago (45.5 per cent), however volumes were lower this week.
Across Canberra a total of 44 auctions were held this week, compared to 86 last week and 49 at the same time last year. Canberra’s preliminary clearance rate of 75.7 per cent is higher than it was the previous week (67.9 per cent).
 
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Long weekend results in fewer auctions: CoreLogic

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A three bedroom house at Buronga, NSW, has been listed at $345,000 after its mortgagee auction failed to find a buyer last month.
Located at <a href="https://www.realestate.com.au/property-house-nsw-buronga-126270402" target="_blank">204 Pitman Avenue</a>, the 937 square metre property is on the outskirts of Buronga near the Murray River and has with three bedrooms - all with their own walk-in robes - while the master has its own ensuite.
The kitchen features 900 millimetre gas cooktop and oven as well as storage, walk-in pantry, gas heating and HWS and ducted cooling.
The lounge could easily be converted into a fourth bedroom or study, while there is also an entertainment area with café blinds overlooking the pool.
Mildura is located only five minutes away from the property.
The property is offered through Ray White agent Brett Driscoll.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-buronga-124758618" target="_blank">11 Tower Court</a>, Buronga (below) was sold for $207,000.
Built in 1990, the 710 square metre house was last sold for $160,000 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/2017/09/19/11%20Tower%20Court.jpg" alt="">
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No sale for three bedroom Buronga house listed for mortgagee sale

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A six bedroom Putney house has sold for $4.3 million making it Sydney’s most expensive long weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-putney-126282822" target="_blank">45 Douglas Street</a>, the 999 square metre property had been architecturally built in 2013.
The property was last sold in 2007 for $1,165,000.
It features multiple living zones with gas fireplace as well as a separate media room.
The kitchen has a window splashback as well as a butler’s pantry.
A self-contained pool house alongside the magnesium pool and self-contained cabana is available along with an entertainer’s patio with alfresco kitchen/BBQ area.
<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/2017/10/01/45%20Douglas%20Street-2.jpg" alt="">
Master suite features its own walk-in robe and ensuite as well as balcony.
Other features include three car LUG and auto gates.
The waterfront, cafes and shops are within walking distance of the property.
The property was offered through Bresic Whitney Estate Agents Nicole Robertson and Nicholas McEvoy.
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Six bedroom Putney house sold for $4.3 million

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A four bedroom Glen Waverley house has sold for $1,617,000 making it Melbourne’s most expensive long weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-126317286" target="_blank">24 Orchard Street</a>, the 665 square metre property is presented for potential redevelopment or renovation.
It last sold for $82,000 in 1984.
It features formal living zones with an entry foyer that leads to the L-shaped lounge and dining room.
There is also an open plan kitchen and meals area along with a kitchen featuring Blanco stainless steel appliances.
<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/2017/10/01/24%20Orchard%20Street-2.jpg" alt="">
Four bedrooms are available all with their own wardrobes.
Outside is a large backyard along with an entertainment area that has a BBQ area as well.
Other features include gas heating, single carport and single garage.
The property was offered through Ray White agents Calvin Huang and Alan Wang.
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Four bedroom Glen Waverley house sold for $1,617,000

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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