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Perth home buyers looking to trade up are now seeing more opportunity in areas such as Peppermint Grove, Applecross and North Coogee, which topped reiwa.com’s list of affluent suburbs that have become more affordable.
REIWA President Hayden Groves said while prices in these suburbs were still well above the Perth median house price, they had become more affordable for buyers looking to trade up into those million dollar suburbs.
Peppermint Grove saw the biggest annual average change in its median house price over the past five years, shifting from $3,750,000 (year to April 2012) to $3,350,000 (year to April 2017).
“Buyers are looking for opportunities in areas with a good lifestyle scene, cafes and restaurants. In particular, we are seeing buyers placing more importance on proximity to good public schools.
“Suburbs such as Applecross, Nedlands and Peppermint Grove are within the catchment for some of Perth’s best public schools.
<a href="https://www.propertyobserver.com.au/images/2017/08/02/Screen%20Shot%202017-08-02%20at%2011.27.30%20am.jpg" target="_blank">Click to enlarge</a>
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“Due to the easing off in median house prices of these suburbs, the opportunity is there to secure your ideal family home if you have the means,” said Mr Groves.
There’s also good news for sellers in Applecross, City Beach, Nedlands and Peppermint Grove, as properties are selling quicker in comparison to five years ago.
“In 2012, it took on average 120 days to sell a property in Peppermint Grove for instance. In more recent figures, the average selling days for the suburb sits at 90 days.
“We are also seeing sellers willing to negotiate and discount their initial asking price to achieve a sale,” said Mr Groves.
The average discount sellers in the five suburbs are applying to their asking price is around the eight to 10 per cent mark in the year to April 2017 data.
“Both buyers and sellers are benefitting from the current market conditions in these million dollar suburbs,” said Mr Groves.
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j.ballantyne1990-6AQqhLzZaK

Buyers experiencing improved affordability in some of Perth’s million dollar suburbs

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The hillside nine bedroom Christopher and Pixie Skase-built mansion in Hamilton Hill has returned to the market again.
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“I believe it will exceed the latest highest sale in Queensland of $25 million,” the Sotheby’s International Realty Ascot agent Stephen Weber told The Australian.
Dr Soo Hian Beh and her estranged husband the Malaysian Chinese industrialist Sir Yii Ann Hii, who is in dispute with the Australian Taxation Office over a $64 million tax bill, bought the Dickson Terrace mansion for $6.5 million in 2001.
Only Soo Hian Beh’s name remains on the title.
They got around town in a with 1VIP numberplates on their 2005 Rolls Royce Phantom.
Bromley was built in 1988 into a 2759 sqm parcel with views across the Brisbane River and the CBD.
The grounds include a large pool, cabana, floodlit tennis court, ponds and fountains.
An eight-person lift services three floors including a self-contained housekeeper’s quarters at the Dickson Terrace property.
“This is very much Queensland’s trophy home and Sotheby’s is looking for a visionary, like Christopher Skase who, let’s face it, built some amazing developments in the late ‘80s, to update it and bring it to its former grandeur,” Weber said.
“To replace this property would be cost prohibitive,” Weber told The Australian.
Skase and his wife Pixie quit Australia for Majorca in 1991.
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Sotheby's seeking a Christopher Skase-like visionary for Hamilton Hill property offering

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A French-style Balwyn house has been sold for $3.812 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-vic-balwyn-125831142" target="_blank">27 Burroughs Road</a>, the property was built in 2012.
The property was last sold in 2013 for $3.27 million on the block of land sold in 2009 for $1.175 million.
Featuring a living/entertaining zones as well as a sixth or guest bedroom that are linked to five upper bedrooms with ensuite and balcony.
The kitchen has Miele appliances and butler’s pantry.
<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/2017/07/30/27%20Burroughs%20Road-2.jpg" alt="">
There are also two living areas that open to al fresco terraces.
Other feature includes two double garages.
The property is close to the park, 109 tram and shops.
The property was offered through VicProp agents Jack Zhang and Janssen Xiang.
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French-style Balwyn house sold for $3.812 million

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A heritage Bundaberg West house has been listed for sale with a $945,000 asking price having been listed with initial $1 million hopes.
Located at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+west-125418970">314 Bourbong Street</a>, Old Cran House was built in 1894 by Robert Cran, who operated the local sugar mill refinery.
Renovations has been carried out over the years and a local architect, Bronwyn Innes have been involved with the renovation project.
<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/2017/07/31/314%20Bourbong%20Street-2.jpg" alt="">
Featuring original features including a ballroom, which has hosted many local events, along with French doors and enclosed verandah.
There are also two working fireplaces, a pool and a four car garage.
The west side of the building formerly worked as an Accountancy Practice with entry reception, main office and consulting room.
Currently the property could allow further rooms from this business and turn it into a variety of commercial businesses with 8 bitumen car parks plus room for an additional 10 spaces if needed.
The property is offered through LJ Hooker agent Violette Sinclair.  
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Heritage Bundaberg West Old Cran House listed for $1 million

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The RBA held at the August 2017 meeting.
The central bank last moved on rates in August 2016, when it cut rates to 1.5 percent. Rates have stayed at the record low of 1.5 percent since.
Investors in residential property are facing higher interest rates, said the RBA.
It said there has also been some tightening of credit conditions following recent supervisory measures to address the risks associated with high and rising levels of household indebtedness.
It warned that growth in housing debt has been outpacing the slow growth in household incomes.
"Conditions in the housing market vary considerably around the country. Housing prices have been rising briskly in some markets, although there are some signs that these conditions are starting to ease," the RBA Governor Philip Lowe said in a statement.
"In some other markets, prices are declining. 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." 
REINSW President John Cunningham said the decision sees interest rates remain steady for the past 12 months after the RBA last cut interest rates in August 2016.  “While the RBA has not acted over the last year, there has been considerable activity from the banks," he said.
“The Sydney property market has settled down after a whirlwind period of growth but solid competition remains and will continue into the normally strong spring market. 
“Buyers must prepare themselves for several interest rate rises in the future, but the outlook remains positive,” Mr Cunningham said.  The RBA will next meet on September 5. 
Even though the RBA held rates, but the bottom of the market has already passed for fixed rate mortgages, according to RateCity.com.au.
RateCity research showed that fixed rates across the board bottomed out in November of last year.
RateCity money editor Sally Tindall said funding cost pressures and increased government regulation had taken their toll on the fixed rate market.
 
 
 
 
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Investors facing higher rates, as the RBA holds at August 2017 meeting - a full year without any movement up or down

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Bangarra has announce their move to International Towers at Barangaroo, Sydney in 2018.
The company is vacating their current premises at Pier 4/5 to make way for the construction phase of the major redevelopment of the Walsh Bay Arts Precinct.
The theatre's Philippe Magid, said the company is excited to have secured a temporary new home featuring a dance studio for rehearsals and office space for administration.
“This is a great partnership between the private sector and the arts.
“It was an extensive search and we are extremely thankful to the NSW Government and International Towers for their generosity and flexibility.
“As a world-class dance company, we require a very specific space and International Towers have made innovative use of a vacant area within Tower Three to ensure we are properly accommodated during this interim period,” said Magid.
International Towers general manager, Tony Byrne said Bangarra is a welcome addition to the growing innovation community at International Towers.
“They are a wonderful addition to our current ecosystem of tenants - bringing an arts perspective and an innovative, global outlook as well as a deep connection to our indigenous culture and heritage within the precinct."
International Towers was developed by Lendlease.
Bangarra has been a national partner in Lendlease’s Reconciliation Action Plan (RAP) for the last two years.
Bangarra has been based at Pier 4/5 at Walsh Bay since 1997, and the premises have been refitted numerous times to accommodate burgeoning staff and production needs.
Bangarra have just finished their sold out season of their acclaimed new work Bennelong at Sydney Opera House.
The company then tours to Canberra, Brisbane and Melbourne.
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Bangarra finds a temporary home at Sydney's Barangaroo

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Australian dwelling prices rose by a moderate 0.8% m/m in seasonally adjusted terms in July, which was the strongest monthly result since February.
<a href="https://www.propertyobserver.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%2011.28.35%20am.jpg" target="_blank">Click to enlarge</a>
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The market remains healthy despite tighter regulation and higher borrowing costs, although auction results do point toward a further cooling in the market in coming months.
APRA’s macroprudential regulation and the subsequent increases in borrowing costs (primarily for investors) have been felt in the market, with annual dwelling price growth slowing to 10.4% y/y, down from the 13% peak earlier in the year.
Interestingly, Sydney prices have slowed markedly, but Melbourne prices have been more resilient and are still 16% higher than a year ago.
<a href="https://www.propertyobserver.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%2011.28.43%20am.jpg" target="_blank">Click to enlarge</a>
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As we noted in this morning’s Canadian housing insight, British Columbia’s experience suggests that regulation can indeed slow the housing market, but questions remain over the sustainability of such movements.
Subsequent tightening in Ontario has also had a negative impact on prices in recent months, and we will be watching closely to see if these moves become permanent.
<a href="https://www.propertyobserver.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%2011.28.51%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/2017/08/01/Screen%20Shot%202017-08-01%20at%2011.28.51%20am.jpg" alt="">
In Australia, weaker auction results in recent months suggest that price growth will continue to ease, especially in Sydney.
But there is no suggestion that prices will materially fall, as per Canada.
Yesterday’s private credit data showed that while investor credit growth has slowed in response to the regulatory changes, there has been an improvement in owner-occupier borrowing.
This suggests that overall sentiment in Australia’s property market remains positive.
<a href="https://www.propertyobserver.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%2011.29.01%20am.jpg" target="_blank">Click to enlarge</a>
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Daniel Gradwell is the senior economist for <a href="https://www.anz.com.au/" target="_blank">ANZ</a>.
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Australian house prices still solid despite regulation: ANZ's Daniel Gradwell

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Geelong held the top spot for the highest regional weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 26 auctions in Geelong 84.6% were cleared.
This is followed by the Sunshine Coast with 66.7% and the Hunter region with 65.4%
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Screen%20Shot%202017-07-31%20at%2012.02.40%20pm.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/2017/07/31/Screen%20Shot%202017-07-31%20at%2012.02.40%20pm.jpg" alt="">
Gold Coast had the lowest with only 38.2% cleared.
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-belmont-125877410" target="_blank">47 Roslyn Road</a>, Belmont (above) was sold over the weekend for $600,000.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-bell+post+hill-125859534" target="_blank">10 Jedda Street</a>, Bell Post Hill (below) was sold for $420,000.
<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/2017/07/31/10%20Jedda%20Street.jpg" alt="">
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Geelong takes top spot in regional weekend clearance rate: CoreLogic

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A 3.1 percent gain in Melbourne dwelling prices over the month drove combined capital figures in the July 2017 CoreLogic Home Value Index.
The July 2017 CoreLogic Home Value Index results recorded a 1.5 percent rise in dwelling values across the combined capital cities.
<a href="https://www.propertyobserver.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%2011.25.19%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%2011.25.19%20AM.png" alt="">
Tim Lawless, CoreLogic head of research , the latest housing market results highlight the diversity of housing market conditions, with dwelling values down over the month in Brisbane (-0.6 percent), Perth (-1.3 percent) and Darwin (-1.2 percent).
<a href="https://www.propertyobserver.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%209.52.28%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/01/Screen%20Shot%202017-08-01%20at%209.52.28%20AM.png" alt="">
“The recent bounce in capital gains may be partially due to a recovery from the seasonal slump in values recorded in April and May," he said.
"However, other factors, such as stamp duty concessions for first home buyers in New South Wales and Victoria, may also be having a positive impact on market demand. 
“It’s still too early to measure the effect of first home buyer incentives, which went live on July 1st. However historically, the first time buyer segment has been very responsive to stimulus measures.” 
"Despite the higher month-on-month capital gains in June and July, the quarterly trend rate of growth has clearly reduced. 
"The rolling quarterly pace of capital gains across the combined capitals has fallen from 3.6 percent in February earlier this year to reach 2.2 percent at the end of July. 
"The slowdown in growth conditions is most evident across the hottest markets, with the quarterly growth trend reducing from 5.0 percent in Sydney earlier this year to 2.2 percent at the end of last month. 
"Melbourne growth conditions have also slowed, though to a lesser extent, with growth easing from a 2017 quarterly peak of 5.5 percent to 4.2 percent. 
“Melbourne appears to be benefitting from consistently high population growth which is creating strong demand for housing, as well as consistently high jobs growth and more affordable housing options relative to Sydney.”
"At the other end of the growth spectrum, Perth and Darwin have continued to see dwelling values slip lower over the month, taking the cumulative decline to 10.2 percent in Perth and 14.5 percent in Darwin since both markets peaked in 2014. 
"The ease in the rate of decline has been most visible in Perth, providing a signal that the Western Australian capital may be approaching the bottom of the downturn; listing numbers have been falling across Perth which is a positive sign of improving conditions, and transaction numbers have found a new floor at around 2,500 sales per month."
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Melbourne's stellar mid-year price growth leaves other capital cities behind: CoreLogic

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finder.com.au’s monthly cash rate survey shows all 35 economists and experts surveyed are forecasting the Reserve Bank to leave the cash rate untouched today, on August 1.
Experts and economists were asked to shed light on the direction of the next rate move, and the majority (87%, 26) think the next rate movement will be in a positive direction. Only four experts (13%) are expecting a rate cut. 
Graham Cooke, Insights Manager at finder.com.au, says a rate hike is in the pipeline.
“It looks as though April and May next year may be the most likely months a rate cut will be enforced.
“If the economy continues to stabilise, we can expect to see more rate rises throughout 2018,” he says. 
The panellists do not agree with the view of former RBA board member, John Edwards, that eight rake hikes over the next two years is “distinctly possible.” 
The majority surveyed on this topic (69%) expect three or fewer hikes over the next two years, while one in four (23%) expect four hikes. Just one economist, John Caelli from ME Bank, agrees with Mr Edwards that eight hikes may take place over the next two years. 
Panellists were asked to identify their greatest economic concerns for Australia right now, and the two highest ranked concerns were household debt and wage growth, cited by six experts each. 
“Wage growth is at record lows, currently sitting at about a quarter of inflation. Meanwhile, house prices continue to soar in the capitals and credit is cheaper than ever. This combination could be troublesome,” Mr Cooke says.
Since the Australian dollar hit a two-year high against the USD this month, it’s no surprise the high AUD was the third most cited concern, mentioned by three economists.  
“A high Aussie dollar could harm our exports as goods become more expensive for foreigners to buy,” Mr Cooke says.
Panellists were divided about the future of the AUD, with a slight majority (55%, 12) saying it peaked last week at 80 US cents. Just under half (45%, 10), however, said the dollar may reach 85 US cents by the end of this year.
“However, the strength of the local currency against the greenback is good news for travellers heading to the US as they'll find their dollar will go that little bit further.
“Anyone importing or buying goods from US sites, such as eBay or Amazon, will be get better value for money,” Mr Cooke says. 
Other concerns raised among panellists were the unemployment rate, the future of the Chinese economy, and a lack of entrepreneurial innovation in Australia.
Here’s what our experts had to say:
Jordan Eliseo, ABC Bullion (Hold): "The RBA has made it clear it thinks that it has the appropriate monetary policy settings in place. None of the data that we've seen come out this month (on inflation, business confidence, employment etc) will have meaningfully impacted that view. As such, notwithstanding their renewed concern regarding the strength of the AUD, we think they will keep rates on hold when they meet next week."
Tim Nelson, AGL Energy (Hold): "Low wages growth means inflation is largely in check. High levels of household debt mean increasing rates is challenging."
John Hewson, ANU (Hold): “[Insufficient] info to move one way or the other."
Shane Oliver, AMP Capital (Hold): "While growth was weaker than expected in the March quarter, recent data suggests its back on track reducing pressure to cut rates again but risks around the consumer, weak inflation and a rebound in the $A indicate its way too early to hike rates. So best to remain on hold."
Alison Booth , Australian National University (Hold): "Little change in the main indicators." 
Peter Munckton, Bank of Queensland (Hold): "Cash rate is at the right level."
Darryl Gobbett, Baillieu Holst Ltd (Hold): "The RBA doesn't see the current cash rate as necessarily all that expansionary and remains concerned about the impact of rate rises on households with the very high gearing, stagnant wages and rising utilities prices."
Richard Robinson, BISoxford economics (Hold): "Although RBA would like to cut rates to take upward pressure off the Aus dollar, it can't cut rates as it fears re-stoking the residential property market. With inflation low and particularly wages growth very low, there is no need to raise rates for at least 2 years."
Paul Dales, Capital Economics (Hold): "The RBA does not want to cut interest rates for fear of boosting the housing market and debt levels, but equally the economy and inflation aren't strong enough to warrant interest rate hikes. 
Savanth Sebastian, Commonwealth Bank (Hold): "Inflation remains well contained. RBA would be concerned about the lift in the Aussie dollar. Focus will be on how economy tracks over the next few months."
Saul Eslake, Corinna Economic Advisory (Hold): "The RBA would clearly prefer not to have to cut rates any further, but is also in no hurry to start raising them (even if central banks elsewhere in the world do). Economic data since the last board meeting (more good data on employment, business conditions, offset by another quarter of very low inflation, softness in household spending) don't present a strong case to move in either direction."
Andrew Wilson, Domain Group (Hold): "The RBA is clearly determined to leave rates at current level taking a more medium-term view of the macroeconomy regardless of the current insipid intransigence of key economic performance indicators. 
Scott Morgan, Greater Bank (Hold): "No indication of likely move from recent commentary."
Mark Brimble, Griffith Uni (Hold): "Bias remains to the down side as the economy struggles to gain any traction.  The dampening impact of credit controls (while assisting with medium term risk around credit risk and elements of the property market) and retail interest rate rises by financial institutions have not helped.  Indeed the puzzling comments from the RBA that have related to a spike in the AUD also have a dampening impact.  Despite this, the RBA is unlikely to move rates for some time." 
Paul Bloxham, HSBC (Hold): "Inflation is still below the target band, so no immediate move in sight." 
Alex Joiner, IFM Investors (Hold): "Robust labour markets and a soft headline CPI outcome for Q2 (and 'core' measure being inline with the RBA's forecasts) underscores there is no economic rationale to move rates in either direction. Financial stability concerns seemingly prevent further easing. And a higher A$ deters premature hiking." 
Michael Witts, ING Bank (Hold): "The RBA will be concerned about the rise in the AUD and will not be looking to add fuel to the fire." 
Nicholas Gruen, Lateral Economics (Hold): "[The rate will hold because] Philip Lowe said so!"
Leanne Pilkington, Laing+Simmons (Hold): "The RBA has indicated its intention to cautiously manage inflation to the preferred 2-3% range while at the same time appears reticent to reduce rates further. The weak inflation forecast in the June CPI figures point to a steady rate scenario for the short term. With employment levels also steady, this is good news for the property market on the whole.” 
Matthew Tiller, LJ Hooker (Hold): "There has been little discernible change in economic indicators since last month’s RBA meeting." 
John Caelli, ME (Hold): "With the high dollar, low inflation and low wage growth there is no rush to put up rates just yet."
Michael Yardney, Metropole Property Strategists (Hold): "The RBA can't raise rates as it would stifle our fragile economy and would lead to a higher AU$. Similarly, it can't lower rates as this would  fuel the Sydney and Melbourne property markets." 
Mark Crosby, Monash University (Hold): "Probably the strongest signal in history that the RBA will sit on its hands for the next couple of meetings, particularly given the latest inflation outcome." 
Jessica Darnbrough, Mortgage Choice (Hold): "Last month, the Reserve Bank of Australia made it clear that its current monetary policy setting is appropriate for the time being and I believe this will continue to be the case at the August Board meeting.”
Chris Schade, MyState Bank (Hold): "Interest rate settings remain appropriate. Economy performing a little below trend, inflation remains at the lower end of target, and the Aussie dollar is higher than the RBA would like. Holding rates at their current highly accommodative level is appropriate to allow the economy to continue to gain momentum as the unwind of the mining boom ends, the housing construction peak passes (but activity remains at a robust level for some time – i.e. no major drop) and, hopefully, other sectors pick up." 
Alan Oster, NAB (Hold): "Still too early, watching wages and the labour market.” 
Noel Whittaker, QUT (Hold): "I think we are at the bottom of the cycle but don't see any urgent need to raise rates."
Nerida Conisbee, REA Group (Hold): "While earlier in the month strong jobs growth figures suggested that the economy was on track, the strengthening Australian dollar put a dampener on the need for an increase. Inflation figures out today are likely to further cemented the RBA’s decision to take a wait and see approach with these figures continuing to be below the target of between 2 and 3%. Despite the RBA likely to hold, it is likely that banks will continue to increase the rates they charge home owners. This is partly because their costs of wholesale funding have increased but also because there is continued pressure from APRA to moderate their lending. The banking tax announced in the budget is also likely to be passed on to homeowners.”
Janu Chan, St.George Banking Group (Hold): "RBA will still have concerns about spare capacity and low inflation. However, risks of another rate cut have clearly dissipated." 
Brian Parker, SUNSUPER (Hold): "No signs in the data that they need to change their views of the world or their policy stance."
Nicki Hutley, Urbis (Hold): "Current settings are appropriate for employment and inflation settings."
Clement Allan Tisdell, The University of Queensland (Hold): "RBA statements and the increase in the value of the AUD [indicate no change]."
Other participants: Bill Evans, Westpac (Hold), Jonathan Chancellor, Property Observer (Hold).
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Rates on hold, with next move up: finder.com.au survey

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."

&nbsp;

[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]

Staff reporter

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