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A proposed move by the Victorian government to abolish a provision allowing for the early release of deposits as part of its review of the Sale of Land Act has been criticised by industry experts.
If the provision is removed, home sellers in Victoria would struggle for early access to house deposits, making it difficult for them to purchase a new home before the sale of their old one is settled.
Industry experts said the current legislation was “working well” and its repeal would only hurt buyers and sellers, said an article in news.com.au.
“Given strong price growth in recent years, many vendors will be unable to relocate without the ability to access the deposit to fund their next home,” Real Estate Institute of Victoria chief executive Gil King was quoted by News as saying.
An options paper by Consumer Affairs Victoria said the provision was contentious and and could “cause considerable stress for buyers and seller” and needed reform.
The paper suggests to either amend Section 27 of the Act to “improve and clarify the operation of these provisions” or scrap it altogether.
The paper said the provision had created a problematic expectation that sellers would be able to access deposits before settlement.
“Real estate agents support this practice. It benefits sellers who depend on the deposit money to put towards securing another property,” the paper said.
“However, most stakeholders, particularly from the legal and conveyancing sectors, expressed concern, (highlighting) the considerable administrative burden associated with this process, and the undue stress it causes for all parties.”
But the paper does mention that scrapping the provision would force sellers to make alternative financial arrangements to secure another property while waiting on the settlement of their current one.
King said the REIV strongly opposed any changes to Section 27, as the early release of deposits allowed sellers seeking a new home to avoid “the significant additional expense” of bridging finance.
The legislation also provided adequate protections for both buyers and sellers, he said, while adding that downsizers would be among the most affected, as majority of their equity was tied up in their home.
CoreLogic state director for Victoria Geoff White said buyers currently had the power to decide whether to release their deposit early or not, meaning the provision could also help them.
“If a buyer is happy, there’s no issue. (Agreeing to release a deposit early) can even make their offer look better,” the fifth-generation agent said.
“It would be stupidity to repeal this.”
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j.ballantyne1990-6AQqhLzZaK

Industry experts critical of repeal of early access to deposit in Victoria proposal

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Listing volume for Fraser Coast unit market has jumped, according to REIQ’s latest Queensland Market Monitor quarterly report.
The quarterly median house prices are typically more volatile than annual median data and this is true of the Fraser Coast market, which revealed a quarterly growth figure this quarter of 2.5 per cent, compared with a fall of 2.3 per cent in the December quarter last year.
Looking at the more consistent 12-month median house price data, the Fraser Coast has held steady for the 12 months to March 2017.
This is consistent with the 12 months to December also, where no change was recorded.
And like the house market, the unit market also experienced volatile growth on a quarterly basis, with a fall of 10.7 per cent from December to March.
However, looking at the more reliable annual data the Fraser Coast unit market grew 1.2 per cent, from $247,000 in March 2016 to $250,000 in March 2017.
The Fraser Coast has become the region with the largest percentage of houses (13.5 per cent stock of market) and units (18.9 per cent stock of market) listed for sale for the 12 months to February 2017.
This region is suffering from a dearth of funded infrastructure and investment projects that proliferate throughout other regions in Queensland.
Good news on the horizon, however, with the proposed $300 million Colton Coal mine near Maryborough, which was granted three mining leases in early May.
Once the mine reaches operational stage, it is expected to create about 120 jobs for the region and boost economic development.
The Fraser Coast could also become the renewable energy capital of Queensland over the next five years.
The Eco Energy World Australia project proposes to build a $280 million renewable energy facility at Aramara.
This project is expected to generate 150 jobs during construction and 11 part-time jobs when operational.
The housing market has remained steady over the past 12 months, reporting an annual median sale price of $307,500 for the March quarter.
Over the medium term, the annual median sale price recorded a modest growth of 7.9 per cent from $285,000 for March 2012 to $307,500 for March 2017.
The largest volume of transactions was below $350,000.
The volume of sales remained relative steady in the September and December quarters.
Preliminary data shows a reduction in the number of sales over the March quarter.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.05%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/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.05%20am.jpg" alt="">
However, this is still subject to review to reach a meaningful conclusion.
Following the state-wide trend, listings increased in the Fraser Coast, up by 52.4 per cent from 3352 in February 2016 to 5107 in February 2017.
This resulted in a rise in the volume of stock on the market, up 4.6 percentage points to 13.5 per cent.
Median days on market and median vendor discounting recorded a modest improvement.
A house takes about 84 days to sell with a discount of 5.9 per cent for the 12 months to February 2017..
The annual median unit price increased 1.2 per cent, from $247,000 in March 2016 to $250,000 in March 2017.
Over the medium term (five years), the unit market has fallen 11.1 per cent with the annual median price dropping from $281,150 in March 2012 to $250,000 in March 2017.
The most active price range is for transactions below $250,000.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.13%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/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.13%20am.jpg" alt="">
The volume of sales increased 12.2 per cent over the December quarter, from 82 sales in September to 92 sales in December.
The listings volume jumped 73.6 per cent, from 497 to 863 for the past 12 months.
The amount of stock on the market rose to 18.9 per cent.
This positions the Fraser Coast as the region with the largest percentage of units for sale in Queensland.
Median days on market and median vendor discounting fell slightly over the past 12 months, reaching 87 days and 5.8 per cent in February 2017.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-pialba-123913050" target="_blank">9/63-65 Hillyard Street</a>, Pialba (above) has been listed from $230,000.
The property was last sold in 2007 for $192,500 and again in 1993 for $94,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-maryborough-125245114" target="_blank">6/268 Ellena Street</a>, Maryborough (below) has been listed for $199,000.
It last sold in 2007 for $200,000, in 2004 for $163,000 and in 1999 for $90,000.
<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/2017/06/16/6_268%20Ellena%20Street.jpg" alt="">
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Unit listing volumes in Fraser Coast jumps

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An original 1872 bluestone house at Shelford has been listed for $2.85 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-shelford-125233702" target="_blank">31 Mercer Street</a>, The Manse sits on 26 acres of land. Geelong is 25 minutes away while Melbourne is one hour’s and Ballarat only 35 minutes.
It was designed by architects Davidson and Henderson in the early 1870s and has its original character restored.
Recent extensions has been made to the property and it has views of the valley and countryside.
Floor layout includes an office or meeting room, formal lounge, main bathroom, wine cellar and powder room.
Three bedrooms all have their own wardrobes while the master bedroom has a bay window, its own ensuite and large walk-in robe.
The kitchen features 900mm Falcon Classic oven plus 600 Bellinger Classic oven, Caesar Stone bench tops, in-built double fridge, island bench and dishwasher.
<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/2017/06/26/31%20Mercer%20Street-2.jpg" alt="">
A fully self-contained guest house is also available and features its own bedroom, bathroom, lounge, gym, kitchen and study room.
Other features includes triple garage, landscaped gardens and paddocks.
It has been marketed as suitable for farming uses.
The property is offered through Jodie Bliss Real Estate agent Jodie Biss.
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Original 1872 Shelford house, The Manse, listed for $2.85 million

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An architecturally designed Melville, WA house has been listed for $1,099,900.
Located at <a href="https://www.realestate.com.au/property-house-wa-melville-125208194" target="_blank">1C Williams Road</a>, the property offers views of the city, river and much more.
The ground floor has a foyer with glass canopy and commercial glazing along with a small space for living including an ensuite bathroom and study nook.
There is also an ensuite on this floor as well as undercover parking for up to five vehicles.
First floor is the large open plan kitchen with 80mm thick stone bench top, series 8 Bosch appliances and skylight.
The lounge is also on this floor and has its own fireplace and handcrafted artisan marri mantle piece.
There are two outdoor areas, one balcony and alfresco area.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/26/1C%20Williams%20Road-2.jpg" alt="">
A lap pool is also available as well as powder room.
Second floor has  the master bedroom with its own ensuite, walk-in robe with Juliet balcony and views f the surrounding landscape.
The second and third bedrooms also have their own ensuite.
The rooftop viewing deck has been designed to accommodate 25 people at any one time.
The property is offered through Coakley &amp; Martin Estate Agents Warwick Airey.
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Architectually-designed Melville house listed for sale

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Canberra’s Capital Executive Apartment Hotel has changed hands for the first time in 22 years in a complex deal that has involved a large-scale unit buy-out.
The sale to Madison Hotel Group will see the property undergo extensive refurbishment before relaunching under their new brand as Madison Suites Canberra.
The group, run by family business partners Brett Morgan and Beverley Clench, purchased the management rights to the 87-unit apartment hotel on Northbourne Avenue along with 36 freehold units, which the vendor had acquired over a number of years.
Negotiated by Resort Brokers Australia on behalf Stanbritt Pty Ltd, headed by long-time director and sole proprietor Jim Stanwell, the sale was handled jointly by broker Russell Rogers and managing director Ian Crooks.
Mr Rogers said the sale took almost 12 months to conclude as it hinged on Madison Hotel Group also seeking to buy the balance 51 units in the building from individual investor owners.
“In the end, they have independently secured 48 of the other units, which allowed their purchase from the proprietor to be finalised,” he said.
“So it was a very satisfying result, particularly as Canberra is one of Australia’s most tightly-held accommodation markets.”
Resort Brokers Australia declined to disclose the sale price.
Madison Hotel Group, which owns a number of properties in Canberra, Sydney and regional NSW, operates both short-term and permanent residential accommodation businesses.
They also own the Chifley Plaza Hotel in Townsville, North Queensland, which is now being refurbished for planned rebranding as Madison Plaza Townsville.
Resort Brokers’ Ian Crooks said the unusual “hybrid” Canberra sale would see the Capital Executive Apartment Hotel revert from a management rights operation to a more traditional hotel-style establishment under largely single ownership.
“It is a prime property on a large 2,040 square metre corner block in Canberra’s major tourism and accommodation precinct, five minutes’ walk to the CBD,” he said.
“It has been consistently recording occupancy rates over 80 per cent, and there is strong potential to further grow the business.
“The buyers are experienced operators who will usher in a new era for the property, with refurbishment starting immediately.”
Accommodation is a mix of studio apartments and one-bedroom spa suites, while facilities include a business centre, gym, sauna, two spa pools, 24-hour undercover security parking, and an onsite licensed restaurant (outside operator).
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Canberra’s Capital Executive sells for first time in 22 years

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When does the duty exemption for NSW first home buyers apply?
The exemption for first home buyers will apply to contracts executed on or after 1 July 2017 for properties up to $650,000.
For properties valued between $650,000 and $800,000, duty concessions will apply.
Are there any changes for vacant land?
There are no changes to the cap for vacant land.
Does this apply only to new homes?
No, the exemption applies to new and existing homes purchased by first home buyers.
Does the 1 July 2017 date refer to the date the contracts were exchanged or settled?
The 1 July 2017 date refers to the date the contracts were exchanged.
Does a first home purchase refer to a first investment home purchase or the first owner-occupied home purchase?
First home purchase refers to the first home you purchase which you must occupy for a continuous period of 6 months, commencing within 12 months of settlement.
I have just settled, what can I do to get the benefits?
If you settled before 1 July 2017, you are only entitled to the benefits that were available at that time. Please check our website for more information.
Can I rescind the contract and enter into a new contract after 1 July 2017 and get the new benefits?
As your contract is already executed, you are liable to pay duty. If you rescind and enter into the contract for the same property after 1 July 2017 you will not be eligible for the new benefits.
My client has just exchanged contracts and is in the cooling off period. Can we rescind under the cooling off provisions and re-exchange later?
As your contract is already executed, you are liable to pay duty. If you rescind and enter into the contract for the same property after 1 July 2017 you will not be eligible for the new benefits.
My contract is dated before 1 July 2017. Are these changes retrospective?
No, the changes to the First Home Buyers Assistance scheme are not retrospective.
Does this mean yet another form? Will we need to complete another Declaration or a Statutory Declaration?
No additional forms are anticipated at this stage. However some existing forms will need to be modified and in the case of the new scheme the old form will be replaced with a new one.
If the parties entered into a Put &amp; Call option before 30 June 2017 to be exercised after 30 June 2017, would the purchaser be able to claim the exemption (or reduction as applicable) or would the Option be the determining date?
If the exercise of the option occurs on or after 1 July 2017, you will be able to claim the new exemption or reduction.
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The NSW first home buyers July 1 countdown

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One Airlie is a new development in the Whitsundays region, one of Australia’s premier holiday destinations.

It is a gated community of 12 residences with landscaping.

[smartcode_project:default project_id=90071]

The land offerings are between 727 sqm to 2242 sqm.

They are now offered from $695,000 with waterfront lot prices starting at $1,095,000.

The civil works at One Airlie, adjacent to the Whitsunday Sailing Club, have begun.

<img alt="" src="https://www.urban.com.au/images/2017/06/22/Picture-2.jpeg">

Some 10 residents will have ocean frontage.

Activities such as sailing, swimming or diving are all possible nearby. Located on the mainland, just east of Airlie Beach's main street, One Airlie also puts you at the gateway to more than 74 Whitsunday Islands and the Great Barrier Reef marine park.

Airlie Beach is due to experience significant growth and will become a ‘hotspot’ of coastal real estate now that major tourism infrastructure investment has been fast tracked, according to local PRD Whitsunday Principal, Christie Leet.

For more information <a href="https://googleads.g.doubleclick.net/pcs/click?xai=AKAOjsuRR05c7g2j_JynBJH9zAW7W5F9n2F8JzTuvPFA2xl2qsijxoegSi5se_Lg3zfwoXxS07Kw92XJeLN1Xaj6jeYmv8NwVpPUqs5mqkZHgv29bbH4T_Sze0u2dDF-L0f0zNLFWodmoba7mqVcpfqVInDAcA70jGUUINpo3kjF9gGKzV_nN7s-vDpZFtciBMNx6Cex8hx6kqNGoYlCVcOBmGY8Z0kO2f2_V3oH03xzATN1QB5_NPDBvda7jufiZhkjDz5JI9N9MzKXmv8&amp;sig=Cg0ArKJSzFJswJ7UEX1B&amp;adurl=https://oneairlie.com.au/&amp;nm=5&amp;nx=163&amp;ny=-301&amp;mb=2&amp;clkt=99" target="_blank">click here.</a>

[smartcode_project:default project_id=7854]
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Whitsundays' One Airlie building blocks now available from $695,000

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Cheques are so yesterday, and even the hallowed institution, the Reserve Bank of Australia has acknowledged their coming demise.
Paper cheques could perhaps even soon warrant a historical feature alongside the shillings, pence and pounds currency display at the RBA's Martin Place headquarters.
In 1980 cheques made up 85% of all non-cash payments.
Fast-forward to 2016, cheques made up about 1% of the number of non-cash payments, and about 7% of the value of such payments, said the RBA bulletin.
Cheques have long been integral in buying property - both the deposit at the weekend auction, plus the full amount on settlement.
Last year financial institution cheques made up only 9% of the number of cheques written, but accounted for over half of the value of cheques given pricey property acquisitions and related transactions such as the payment of stamp duty. 
The bank produced a chart which shows the issuance of cheques closely correlated with property market transactions. 
These financial institution cheques are also often used for the private sales of cars and are also still used widely for rental bonds. 
Recently, Macquarie Bank announced it was testing a DEFT Auction Pay system that allows buyers to pay their deposit electronically.
The new system allows buyers to do away with the chequebook at auctions when paying a deposit.
Electronic conveyancing is coming too.
The number of settlements transacted is still moderate in the paperless conveyancing scheme, and much relates to refinancing rather than property sales.
The paperless push is lead by GlobalX CEO Peter Maloney who recently noted almost $40 billion worth of property transactions have gone through the platform.
There were around 20,000 PEXA-related property settlements, including refinancing, in the March quarter 2017, some three years into the scheme, Reserve Bank data shows.
This compares with about 120,000 sales transactions in the national housing market in the same period.
The New South Wales government has a commitment to a complete digital property exchange by July 2019, though lawyers and conveyancers are proving to be the biggest roadblock, a recent survey by legal search provider InfoTrack found.
“The results are disappointing and clearly demonstrate that lawyers in the real estate sector must overcome their long-held resistance to new technologies,” says InfoTrack chief executive John Ahern.
The traditional paper-based systems are set to be replaced by the PEXA electronic conveyancing system – currently the only e-conveyancing system available for use in Australia - which appears to has to date failed to attract significant industry support due to concerns over its security, cost and efficiency.
There ought be enormous time and cost efficiencies in moving to digital platforms, however currently entrenched 19th century thinking is costing consumers. 
The NSW Legislative Impact Study indicated that a 13-year uptake period was expected.
This article first appeared in The Daily Telegraph.
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Cheque-ing in on the state of paper property transactions

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There is no need to get spooked out by the recent talk about Australia’s housing market bubble set to burst, especially after CoreLogic data pointed to prices dropping, but rather it maybe that the market is taking a breather, says a leading industry executive.
The CoreLogic data that came out last week showed a slight dip in prices. But most of the headlines were about two cities: Sydney and Melbourne, says Mark Bouris, the executive chairman of wealth manager Yellow Brick Road.
“We need to remember that prices have been going gangbusters there for more than five years,” he said in a column in Fairfax Media.
Also, Australia is a patchwork of very different markets. In May, prices rose in Brisbane and Adelaide, while values in Perth and Darwin fell. 
“And that doesn't take into account all the regional areas, where things such as employment and infrastructure have a big impact on housing prices,” adds Bouris.
“If you only read the headlines, it's easy to get spooked about property. But based on the latest data, we aren't talking about a bubble bursting or prices falling off a cliff – we're seeing the market take a breather. After all, it's been running at full tilt for a while now.”
For owner-occupiers, the implications could be that if there has been good capital growth and then one might want to tap into your home equity to buy another property.
Some lenders have pulled back on investor loans, thanks to pressure from the banking regulators, but the tap hasn't been turned off altogether, he says.
“The key is to be sensible. Think about "serviceability" – making sure you have the income to cover an investment loan, especially if it's negatively geared.
“And don't overextend by getting the biggest loan possible – choose something you can still afford if interest rates increase or rental income flatlines.”
For investors, a “less frothy market” means the need to look harder for the right property, he advises. 
One needs to pay close attention to the fundamentals such as the area’s supply and demand for housing.
“Supply is one half of the equation, so look at things such as development application (DA) approvals to see how much is in the pipeline.
“On the other hand, demand is influenced by population growth and where jobs are coming from – so make sure it's an area people want to be in,” he adds.
A lot of this data is publicly available using sources such as the Australian Bureau of Statistics. 
“Think of it as a business decision and do your homework properly.”
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Property market taking a breather: Yellow Brick Road's Mark Bouris

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Buyers are snapping up the apartments in Modulus, located at 1 Birriga Lane, Bellevue Hill, with 60% sold and only two five-bedroom penthouses remaining.
The property will seek to achieve the Green Building Council of Australia’s 6 Star Green Star rating upon completion – the first multi-residential building in the country to attempt to do so in combination with a PassivHaus rating.
The super-eco-friendly property features next-level technological advancements with a boutique, luxury feel, and has a hugely futuristic appeal for environmentally-friendly and health-conscious buyers who are looking to achieve that next level of holistic yet luxurious living in one of the most sought-after locations in Australia.
Modulus is surrounded by sustainable, edible gardens with rainforest species framing outdoor terraces and palms filtering neighbours’ views.
Only the penthouses remain available, priced at between $6.6 million and $6.8 million.
The two bedrooms were offered between $2.3 million and $2.4 million and the three bedrooms were priced between $3.85 million and $4.5 million.
Knight Frank’s head of prestige residential sales, Australia Deborah Cullen and sales executive, prestige residential sales, Australia Richard Sholl are marketing the property on behalf of behalf of Modulus Luxury.
According to Cullen, this type of property is becoming increasingly sought-after in the luxury market, with sustainability one of the foremost topics in buyers’ minds.
“Modulus offers the trifecta for purchasers – location, technology and sustainability, and luxury.
“It is positioned in Sydney’s highly sought-after Eastern Suburbs, close to Bondi Beach and the CBD; features superior technology and sustainability features; and is beautifully, architecturally designed to improve health and wellbeing.”
According to Rajesh Nellore, Modulus luxury managing director, Modulus is designed with next-level technology from the clean tech industry.
“We support research, development and investment into sustainable living,” said Nellore.
“Today, buildings account for 40 per cent of global resource use.
“To make matters worse, building developers often tap forests and other resources in a way that depletes them, harms biodiversity, and generates pollution.
“Modulus is designed with ultimate eco-friendly waste and energy management in mind, and is part of a new generation of ‘smart homes’.
“Even the materials used to build the property were developed using materials that aim to minimise environmental impact, including the depletion of resources, impacts on bio diversity, greenhouse emissions and toxic waste.
“Modulus has an intelligent control system that directs the electricity produced by solar energy.
“To sustain residents’ good health, the apartments facilitate excellent natural ventilation and can also pump additional oxygen into homes while occupants are sleeping.
“Building materials are also selected to maintain healthy indoor air quality.”
Modulus features PassivHaus, a high-performance building design, with high levels of sustainable infrastructure and insulation – creating consistent internal thermal comfort without input from active heating or cooling systems.
It has sophisticated active and passive air conditioning systems, allowing the house to operate in three different modes of comfort conditioning.
Modulus features a ‘green roof’ partially covered with plants, offering numerous advantages, including a natural habitat for birds; storm water runoff reduction; and a filtration system for rainwater.
The ’green roof’ also serves as a meditation centre with meditation pods, decreasing stress through tranquillity.
For more information, visit <a href="https://www.propertyobserver.com.au/modulusluxury.com" target="_blank">modulusluxury.com</a>.
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Bellevue Hill apartment development Modulus quickly snapped up by buyers

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

Joel Robinson

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

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

Boutique Gordon townhomes now come with a BMW iX3 50

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

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