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The residential property market in Sydney continues to surge, property valuation firm HTW recently noted.
It was being driven by lack of stock, record low interest rates, strong population growth, continued strong presence of overseas buyers, tax incentives, positive market sentiment/ speculation and re-invest using equity build up from previous years property market growth, according to the recent Herron Todd White report.
"Australians’ confidence in property as a good place to invest has reached a three year high according to a recent NAB survey,” the report noted.
Herron Todd White says that there was a lack of supply versus demand in Sydney which was driving prices up.
It noted the demand versus supply issue in Sydney was highlighted in the data provided by CoreLogic.
Sydney has a population in excess of 4.6 million but with total listings of around 20,636 properties, only slightly greater than Brisbane at 19,043 listings but less than Perth at 21,377 listings and a population of near 1.9 million.
As a comparison, Melbourne with a more comparable population of 4.2 million has a total of around 28,305 properties listed for sale.
"We consider that the lack of supply is the main driver in the escalation of prices in the greater Sydney market.
"The Sydney prestige property market, generally considered to be properties above $3 million, has continued its strong performance into 2017.
"Factors which have been driving the prestige market include a limited supply of quality stock coming on to the market and a sustained period of high auction clearance rates in prestige suburbs.
"High net wealth (HNW) purchasers, both local and international, continue to be attracted to the Sydney market, with a recent Domain article quoting Lord Andrew Hay, global head of residential at Knight Frank, that globally “Sydney is in 11th position in terms of most desirable cities for HNWs to live and invest in”,” the report commented.
Nine Sydney suburbs have a median price of $3 million while foreign buyers will face increased stamp duty and land tax surcharges Herron Todd White says.
“As per CoreLogic data there are currently nine suburbs in Sydney with a median price in excess of $3 million being on both sides of the harbour within a short commuting distance of the CBD.
"Bellevue Hill in Sydney’s east has had a total of 70 dwelling sales in the past 12 months with a median price as at April 2017 of $4.777 million, a further indication of the strong demand levels for prestige property.
"Despite tighter rules around foreign buyers purchasing property in New South Wales and increased stamp duty and land tax surcharges on foreign purchasers, foreign investment into the prestige market remains strong, particularly from Asia.
"Further regulatory or taxation changes, either here or in Asia, would be the most likely cause for the prestige market to slow in the near future,” the report advised.
Herron Todd White comments that with the property market running hot in recent years, some Sydney homes are earning more than their owners with the price of a house increasing by more money each day than most workers earn in a week.
"The CoreLogic data reveals house values in Clovelly (eastern suburbs) had the largest daily gains over the past year at $1,931 per day, followed by Manly (lower north shore) at $1,808 per day.
"Worryingly though, growth in wages has not kept pace with house price increases which have seen borrowers continuously tapping into the equity in their homes or investment properties to further use towards additional investment properties,” the report warned.
New developments in many of the areas are also driving prices up Herron Todd White says.
“Throughout greater Sydney another factor that has been driving the market is government infrastructure spending.
"The suburb of Frenchs Forest in the northern beaches region has been a strong performer over the past few years thanks in part to the construction of the much anticipated Northern Beaches Hospital and surrounding infrastructure.
"This investment in the area has driven up demand for housing with strong sales occurring.
"The median value for dwellings in this suburb is currently $1.515 million.
"In March 2014 it was $966,500 representing approximately 60% growth (source: Corelogic).
"Suburbs along the under construction North West rail link have outperformed surrounding suburbs over the past few years mostly due to this substantial investment.
"Suburbs such as Cherrybrook, Castle Hill and out to Rouse Hill have all benefited from the higher level of demand from purchasers looking to be located near solid transport hubs.
"This is shown by Cherrybrook’s change in median price of 88% over the past five years to be currently sitting at $1.43 million,” the report commented.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cherrybrook-124986766" target="_blank">18 Woodcrest Place</a>, Cherrybrook (above) has been listed for between $1.25 million to $1.3 million.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cherrybrook-125306498" target="_blank">29 Beechwood Parade</a>, Cherrybrook (below) has been listed with a price guide of $1.35 million.
<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/2017/05/16/29%20Beechwood%20Parade.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cherrybrook-125270566" target="_blank">9 Acer Court</a>, Cherrybrook (below) was recently sold for $1.49 million.
<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/2017/05/16/9%20Acer%20Court.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cherrybrook-125390126" target="_blank">16 Elderberry Place</a>, Cherrybrook (below) was recently sold for $1.43 million.
<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/2017/05/16/16%20Elderberry%20Place.jpg" alt="">
“For units, suburbs such as Mosman and Cremorne on Sydney’s lower north shore have remained strong for a number of years.
"Local agents have identified a sweet spot for 2-bedroom units of between $900,000 and $1.2 million.
"This will get you a larger, older style unit appealing to a wider market segment. This price bracket is well suited to a professional couple wanting a low maintenance unit within close proximity of the city.
"In addition this sweet spot is in line with the borrowing capabilities of a professional couple.
"In the western suburbs of Sydney we have seen strong interest in house and land packages in brand new estates.
"We note land in Austral starts from $360,000 and a 3-bedroom house and land package from $615,000.
"Although situated some 55 kilometres south-west of the CBD, this once semi-rural location is popular with young families wanting detached housing and a yard as well as future growth prospects and the low entry point compared to the average price of over $1 million,” the report stated.
Herron Todd White says that the Sydney property market is significantly outperforming every other localities, which could be the result of traditional factors.
“The Sydney property market has been significantly outperforming the rest of the Australian economy over recent years which we believe implies that it has not been affected by many traditional factors which restrict strong economic growth.
"It is difficult to say what it will take for the Sydney market to change course however many believe that it is nearing its peak of the cycle from an affordability point of view.
"A rise in interest rates of course would have a significant effect on the market however a rise in the official cash rate has not been hinted at by the RBA and it is assumed that this would only rise once the economy appears to be strengthening with inflation reaching targets.
"If interest rates did rise however, this would put a lot of pressure on highly geared investors and mortgagors.
"With rates of household debt at record levels, this could have a substantial effect on the property market.
"According to a recent RBA publication on household finances, average debts are now 89% greater than incomes, up from 67% four years ago.
"An anonymous survey by investment bank UBS revealed that 28% of people surveyed said their mortgage application was not totally factually accurate.
"This is another worrying sign that people are pushing the boundaries to get a foot on the property ladder and even a small increase in interest rates could severely affect the ability of these homeowners to keep up with mortgage repayments.
"Aside from interest rates, another factor which could force the market out of its current growth cycle extends to overseas buyers.
"Sydney continues to attract high levels of foreign investment with foreign buyers, mainly Chinese, making up 25% of all purchases of new dwellings in New South Wales over the past year according to a report by Credit Suisse.
"Any changes to regulations in China or in Australia which would restrict this wave of investment would surely have an influence on the Sydney market in particular,” the report commented.
Media plays a strong part in Sydney property markets Herron Todd White says.
“Many believe the media to have a very strong influence on the Sydney property market in general.
"This was shown at the end of 2015 and beginning of 2016 where a wave of negative media reports appeared to stunt the market for a short period of time.
"When potential property purchasers start believing there is a bubble, they will put off purchasing.
"This hit to the demand side would mean those who need to sell may have to do so at a discount.
"When the buying public starts to see properties selling at a discount then it strengthens the belief that the market has peaked or the bubble has burst.
"It is believed therefore that with any potential negative factor to hit the housing market, the media also has the power to exacerbate any consequences,” the report commented.
It is possible to curb Sydney’s heated market by initiating various ideas according to Herron Todd White.
“New South Wales government policy changes or changes to regulations on a state or national level also have the power to curb the heated market.
"Within the federal budget to be released on 9 May, plans are being drawn up to announce measures to tackle housing affordability. It is believed that these will mainly tackle the supply side of the market rather than the demand with the likes of new land releases etc.
"However any future changes to tax incentives such as negative gearing would have more influence on the market.
"Rental yields in Sydney are considered low however investor lending remains relatively high.
"If changes to negative gearing were put in place then housing as an investment in Sydney could suddenly look less attractive to a portion of the market.
"This would have an impact on the demand side of the market as investor lending is currently considered too strong.
"The issue here however is that any changes to federal taxation rules will also affect under performing areas outside of the strong markets in Sydney and Melbourne and that may influence the federal government’s decision.
"Policies in other countries show that it is possible to make changes that will have a considerable effect on housing markets.
"Policies currently trialed in Australia have so far failed to cool the Sydney market.
"These policies include an anti-tipping duty of 12% when property in Singapore is sold after less than one year; Hong Kong has a 30% transaction tax for foreign buyers and taxes on Taiwanese property sales can reach as high as 45%.
"In 2016, changes were made in Auckland which included a requirement of a 40% deposit from investors which appears to have slowed the also booming market.
"An increase in property taxes in British Columbia in 2016 also halted the runaway property market in Vancouver which was also heavily influenced by overseas buyers.
"Obviously all changes described are more severe than those implemented in the Australian markets such as the APRA restrictions on investment loans and tax surcharges on foreign buyers, which have so far been to no avail,” the report stated.
However Herron Todd White says that there are also other factors that could affect the property.
“Other factors with the ability to affect the Sydney property market include a stock market crash, major economic downturn or a significant decrease in projected population growth in the city.
"The risk of any of these currently looks relatively low,” the report advised.
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j.ballantyne1990-6AQqhLzZaK

Lack of supply the main Sydney property market price driver: HTW

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The Axxess Corporate Park in Mount Waverley by Dexus has seen three new tenancy commitments, following upgrades to the properties by the property group.
The three are Monash University, Mason Seir Turnbull (MST) Lawyers and Suncorp Group, with the deals brokered by Colliers International. 
Monash University has signed on for 4,800 sqm at 321 Ferntree Gully Road, MST has taken 1,800 sqm at 315 Ferntree Gully Road and Suncorp Group has a 1,100 sqm office space and a 3,000 sqm warehouse at 47 Gilby Road.
All three leases were struck on mid-term tenures.
The leasing agents were Travis Myerscough, Rob Joyes, Ash Dean and Kevin Tutty of Colliers. 
“There was a need to provide modern, functional facilities that matched the appeal of the well-serviced estate,” Myerscough said, referring to the refurbishment work by Dexus.
Amenities for staff includes cafes, a childcare centre, gymnasium, badminton courts, on-site mechanic and BBQ areas.
Dexus also recently completed the construction of two more fully fitted and furnished suites at 307 Ferntree Gully Road, Mount Waverley.
“These upgrades are part of Dexus’ portfolio-wide suite strategy, where space is subdivided and speculatively fitted out to attract smaller space users,” Myerscough said.
“Following the success of subdividing whole floors in its high-rise buildings in the city, Dexus sought to implement the approach in its suburban properties.”
Dexus has found a tenant for 307 Ferntree Gully Road, with toy manufacturer Funtastic taking up a 550 sqm tenancy while relocating from Chadstone Shopping Centre.
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Dexus finds major tenants for Mount Waverley business park

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The latest research from CoreLogic's Parramatta Cityscope shows commercial property sales significantly increased in the quarter to June 2017.
The property data firm says that in the latest quarter there were 27 sales at a total value of $351.9 million, compared to the 19 sales at a total value of $66 million for the quarter to March 2017.
This brings the 12-month data to 95 sales at a total value of $707.5 million for the year to June 2017, compared to the 141 sales at a total value of $526 million for the previous year.
The table below shows sales recorded for the past eight updates of Parramatta Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2011.40.04%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/2017/07/14/Screen%20Shot%202017-07-14%20at%2011.40.04%20am.jpg" alt="">
Notable sales in the June 2017 update of Parramatta Cityscope include:
<ul>
<li>105 Phillip Street, Parramatta, a 14-storey office building with basement car parking for 200 vehicles, currently under construction at an estimated cost of $95 million. The building, upon completion, will provide a total of 20,388 sqm comprising 19,730 sqm of office space and 658 sqm of ground level retail space. It was pre-sold for $229 million;</li>
<li>83 Church Street, Parramatta, a car yard with a single-storey sales office at the back on a site of 7,584 sqm, which was bought for $91 million and</li>
<li>57 Church Street, Parramatta, a car yard with several one and two-storey brick buildings and a car wash on a site of 1,992 sqm, which was bought for $9 million.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2011.40.28%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/2017/07/14/Screen%20Shot%202017-07-14%20at%2011.40.28%20am.jpg" alt="">
Properties listed as for sale in the June 2017 update of Parramatta Cityscope include:
<ul>
<li>38 George Street, Parramatta, a three-storey office building with a net lettable area of 770 sqm, includes four covered parking spaces, refurbished in 1994, which is available through Khoury &amp; Partners;</li>
<li>295-309 Church Street, Parramatta, a two-storey building with 17 parking spaces to the rear with a net lettable area of 1,362 sqm, which is available through Khoury &amp; Partners and Savills – Sydney and</li>
<li>2A Ada Street, 2 Ada Street, 4 Ada Street, 6 Ada Street, 8 Ada Street and 1 Kendall Street, Harris Park, comprising a number of residential dwellings in derelict condition, providing a total site area of 3,002 sqm, which are available through Colliers International.</li>
</ul>
Leasing opportunities listed in the June 2017 update of Parramatta Cityscope include:
<ul>
<li>126 Church Street, Parramatta, a 13-storey office block with basement parking for 47 cars, extensively refurbished in 2002, which has office space ranging from 99 to 1,880 sqm available through Colliers International Sydney West and CBRE Western Sydney;</li>
<li>3 Horwood Place, Parramatta, an 11-storey A-grade office building with a net lettable area of 5,015 sqm and typical floor plate of 825 sqm plus parking for 94 cars, which has office space ranging from 135 to 1,341 sqm available through Colliers International Parramatta;</li>
<li>The Commonwealth Bank Building at 235 Church Street, Parramatta, a four-storey office building with three onsite car spaces, internal refurbishments in late 2007, which has office space of 1,203 sqm available through Karbon Property – Sydney and Colliers International Sydney South.</li>
</ul>
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Parramatta commercial property sales increased in quarter to June: Cityscope

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ANZ has opened a cashless branch in Brisbane’s CBD, its first for the city, as customers continue to choose online and digital banking options instead of cash.
The new branch in George Street is ANZ’s seventh cashless branch across Australia since it opened the first one in Sydney’s Bondi Junction in March 2016.
“Our customers are embracing the digital changes we’re rolling out across our network as they continue to use cash less for every day purchases," managing director Retail Distribution, Catriona Noble said.
“The simplicity of internet banking and digital apps means many customers often don’t need cash, and in some cases don’t need a physical wallet at all with the availability of mobile payments where they can pay with their smartphone.”
The new George Street branch does not offer traditional telling or over-the-counter cash handling, but staff are available to help customers deposit and withdraw cash through the bank’s SMART ATMs.
The branch staff members are available to help customers with bigger life decisions such as saving towards financial goals, home ownership or running a small business, which many customers still prefer to discuss face-to-face.
The new Brisbane branch is the 75th digital branch ANZ has opened in the past three years, with another 45 scheduled for 2018.
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ANZ opens its first cashless branch for Brisbane

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Lendlease has completed the first stage of restoration works on the heritage-listed Flinders Street wall, located within the Melbourne Quarter site.
The works are designed to acknowledge the presence of the wall and reposition it in a new, urban context for Melbourne’s future generations to appreciate, according to Lendlease.
Built in 1890 by Victorian Railways, the 174 metre bluestone heritage-listed wall was where workers would congregate before the Second World War in the hope of receiving a day’s work at the docks. 
The restoration is being carried out as construction works begin on the 2.5 hectare Melbourne Quarter neighbourhood.
The Melbourne Quarter precinct will offer nearly 130,000 sqm of agile and flexible office space for more than 12,000 employees, Lendlease said.
Last year, Lendlease secured approval from Heritage Victoria to carry out restoration works to the wall to secure and preserve its long term future.
Lendlease’s managing director for Urban Regeneration, Mark Menhinnitt, said Lendlease was proud to be preserving an important part of Melbourne’s past.
“The retaining wall will be restored and seamlessly integrated into Melbourne Quarter as part of a new grand porte cochere arrival experience on Flinders Street.
“This hotel-style entrance will give apartments their own distinct identity and offer residents concierge services.
The sites is closely linked with the foundation of Melbourne, with the heritage wall marking the original location of Batman’s Hill where city founder John Batman built his home in 1835.
With designs informed by heritage experts Lovell Chen, the precinct’s residential architects Fender Katsalidis and landscape architects Aspect Oculus, the wall is an important piece of Melbourne’s history, built to retain Batman’s Hill as Flinders Street was extended to create access from the CBD to the newly created Victoria Dock, Lendlease said.
"The site is also linked to the city’s former railyards and structures,” added Menhinnitt.
It will also form part of a new public pedestrian connection from Melbourne Quarter to the CBD’s Spencer Street.
New openings through the wall will give the public access to the precinct’s new plaza and retail laneway, which will connect Collins and Flinders Street.
Bluestone components will become publicly visible as part of these works for the first time, he said.
Earlier this year, Lendlease's second commercial tower at the Melbourne Quarter development was given the green light by Planning Minister Richard Wynne.
 
 
 
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Lendlease restores first stage of historic wall on Flinders Street

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They’re used to putting roofs over heads when selling multimillion dollar homes, but last night more than 180 Sydney real estate professionals, including auctioneer Damien Cooley of Cooley Auctions, hit the sack on chilly Bondi Beach to help youth in need.
The Real Estate Sleep Out was again well supported.
It was organised to raise money and awareness for Father Chris Riley’s Youth Off The Streets, a charitable community program aimed at helping homeless and troubled youth.
Last year’s inaugural event chalked up more than $134,000 with just over 100 attendees.
This year that tally has reached $256,000 - and is still climbing.
Passionate about Father Riley’s community work, Damien Cooley has a longstanding relationship with the youth specific agency.
<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/2017/07/25/Screen%20Shot%202017-07-25%20at%2011.32.26%20am.jpg" alt="">
Just this May Cooley Auctions held its 10th and final Cooley Golf Classic, an event that has raised in excess of $500,000 for YOTS over the decade.
“Events like the Real Estate Sleep Out go a long way to keeping organisations like Youth Off The Streets alive.
“They rely on people like us.
“The sleep out is as much about raising money as it is spreading awareness of the incredible work Father Chris and his team do,” said Mr Cooley.
“Last night we had 180 people all spreading the word and raising money for Youth Off The Streets,” he said.
Dinner for the local agents was a humble feast of pies and sausage rolls dished up out the back of a van by Youth Off The Streets volunteers.
Father Chris Riley was there before lights out to talk to the participants and introduce them to a number of young folk from the Bankstown Youth Off The Streets program.
After a night of sleeping rough on cardboard boxes supplied by Storage King Eastgardens, the agents were served up a modest barbecue breakfast at 6am this morning out the front of the North Bondi Surf Life Saving Club.
The much appreciated meal was a helping of bacon and eggs dished up with the help of local club members.
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Sydney’s property professionals big chill for YOTS fundraiser sleep out

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Financial Choice Pty Ltd (Financial Choice), an Australian financial services provider, has paid two ASIC infringement notice penalties totalling $21,600, after making misleading representations in marketing emails sent to consumers and on its website.
The first infringement notice related to a representation made by Financial Choice in bulk emails the company sent to around 215,000 consumers in 2016.
The emails falsely stated that Financial Choice had been asked by the consumer’s superannuation fund to conduct a survey about their superannuation. 
The second infringement notice related to misleading representations on the website findmysuper.com.au, which is operated by Financial Choice. 
ASIC considered that those representations would lead consumers to believe that they needed to use Financial Choice’s services to:
<ul>
<li>find their lost superannuation for free; and</li>
<li>maintain contact with their superannuation fund while overseas. </li>
</ul>
The representations were false and misleading given the other ways consumers can search for lost superannuation (including the free service offered by the Australian Taxation Office), and maintain contact with their superannuation fund.
As a result of ASIC’s concerns, Financial Choice has:
<ul>
<li>agreed to stop sending communications that state or imply that Financial Choice is seeking consumers’ opinions because superannuation funds have asked it to do so; and</li>
<li>removed the misleading statements from the Find My Super website.</li>
</ul>
ASIC Deputy Chair Peter Kell said, “Consumers can be heavily influenced by promotional materials published by financial services providers.
“For this reason, ASIC will continue to take action where we believe those materials are misleading. 
“Firms must ensure their marketing materials and promotional statements are based on fact.”
Under the ASIC Act, a person involved in the supply or promotion of financial services must not make false or misleading representations:
<ul>
<li>that services have sponsorship, approval, performance characteristics, uses or benefits (s 12DB(1)(e));</li>
<li>that the person making the representation has a sponsorship, approval or affiliation (s 12DB(1)(f)); or</li>
<li>concerning the need for any services (s 12DB(1)(h)).</li>
</ul>
The payment of an infringement notice is not an admission of a contravention of the ASIC Act consumer protection provisions.
ASIC can issue an infringement notice where it has reasonable grounds to believe a person has contravened certain consumer protection laws.
ASIC has taken action for false and misleading online-representations against other entities.
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Financial Choice pays $21,600 in penalties for false and misleading representations

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Australiasia’s biggest property group, the Ray White Group, has recorded its biggest ever year with $44.7 billion in sales in 2016-17, up four per cent on the previous fiscal year.
The Ray White Group’s sales market share in Australia and New Zealand improved 0.15 per cent to 10.3 per cent in the year to June.
Ray White Group director Dan White said each of the 1000 businesses that make up the Ray White network were in markets experiencing different conditions.
“While we are happy about our record trading result, what was most pleasing was the overall improvement in profitability for the majority of our individual business owners,” Mr White said.
“Based on our 2016 financial year findings, our offices converted a 12 per cent increase in revenue to a 10 per cent increase in profit."
Ray White continues to list twice as many properties as the next biggest agency group and it remains the largest auction house in Australia and New Zealand with around 15 per cent of the market.
Ray White Group chairman Brian White said there had been much comment during the year regarding tight stock numbers but the Ray White network improved its market share.
“The performance of the property market in 2016-17 highlighted, once again, the critical role that property plays in the wealth of the Australasian community. Property is so important to the vibrancy of our communities,” Mr White said.
“One of the features of 2016-17 was the improved stability of many markets that had been so damaged in the post-mining boom, particularly in some parts of regional Australia.
“Obviously Sydney was a stand out market but the same can be said for Melbourne and Auckland.
“The Gold Coast is also pumping.
“There has been some exceptional growth in that market over the last year which may surprise some people.
“And our network in regional New South Wales has had a great year too.”
 
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The Ray White property powerhouse reports record $44.7bn year

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A split level Soul, Surfers Paradise beachfront apartment has been listed for mortgagee sale.
Located at <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-125847162" target="_blank">4103/4 The Esplanade</a>, the 41st floor double storey apartment has views of the ocean and balconies on both level for alfresco dining.
It has 330 sq m space.
The first level has the open living room along with the formal dining with kitchen.
A study is also located on the first floor along with a large balcony running the entire length of the apartment.
A spiral staircase goes to the second level that leads to the three bedrooms and bathrooms along with media room and balcony.
<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/2017/07/25/Screen%20Shot%202017-07-25%20at%2011.45.10%20am.jpg" alt="">
The property also has access to a indoor heated pool, spa, sauna and gym while outdoor are water features and BBQ area.
The property is offered through PRD Nationwide agent Adam Scott who has schedule an August 5 auction.
"Unique and rarely offered for sale, it is one of only four of "The Beach House Range" quality double storey apartments in the complex," the marketing says.
It last traded in 2014 at $2.7 million.
Soul was completed in 2011 by Juniper.
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Mortgagee Surfers Paradise beachfront apartment listed for auction

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A Hampton-inspired Hendra house has been sold for $2.425 million making it Brisbane’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-hendra-125756330" target="_blank">114 Mein Street</a>, the 503 sqm corner property was designed by Benjamin Henning of Mercury Design.
The property was last sold in 2014 for $710,000.
It previously sold in 2005 for $410,000 and in 1990 for $136,000.
The formal living area has a 800 bottle wine cellar that captures the attention.
Upstairs is the living and outdoor area with heated pool and built-in BBQ along with a kitchen featuring European appliances including ILLVE 1200mm oven, butler’s pantry, steam oven, coffee machine and dual dishwashers.
<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/2017/07/23/114%20Mein%20Street-2.jpg" alt="">
There are five bedrooms along with two master suites.
The lower level master suite has its own walk-in robe and ensuite while the upper master suite is spacious and has a custom-built walk-through robe, designer ensuite and views.
The property was offered through Ray White agent Leigh Kortlang.
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Hampton-inspired Hendra house sold for $2.425 million

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

Joel Robinson

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

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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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