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Renting in Inner Melbourne has a greater risk of increased premium, according to Secret Agent’s latest bulletin.
“An investor should be looking to try and maximise yield when finding a rental property.
“However, they also need to be mindful of the relationship between yield and risk.
“Often a higher yield can mean more risk, such as oversupply," the report noted.
“The higher yield of inner Melbourne (5.3 percent) reflects the greater risk premium.
<a href="https://www.propertyobserver.com.au/images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.29.42%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.29.42%20am.jpg" alt="">
“East Melbourne which offers a tight yield of 3.47 percent is the ultimate blue chip location, however the yield isn’t too attractive.
“Be careful of looking solely at yield to making investment decisions.
“It’s possible to obtain yields above 10 percent in remote regional locations, but once a tenant has vacated, it may be a long time before another tenant is discovered,” the bulletin stated.
For more information from Secret Agent, <a href="https://secretagent.com.au/">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

The higher the rental yield, the higher the risk: Secret Agent

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Across Australia, total unoccupied dwellings rose to 1,039,874, or 11.2 percent of the total 9.2 million private homes.
It was at 10.7 percent of the total five years earlier. 
Perth had the highest proportion of empty dwellings, with 11 percent. Melbourne was second with 9.6 percent.
In Sydney 7.7 percent of properties were unoccupied, up from 7.2 percent. Melbourne's 9.6 percent was up from 9 percent.
On census night there were 167,500 dwellings in Melbourne left vacant, 26,000 more empty homes than in 2011.
Unoccupied houses are often holiday homes or properties that can't be rented out.
Kristina Clifton, economist at the Commonwealth Bank, noted there had been a lot of talk in the press about foreigners purchasing new apartments and then leaving them empty.
The Federal government is trying to deter this type of activity with a new vacancy tax for foreigners introduced in the latest Federal Budget in May.
The Victorian Government is also introducing a similar tax.
"It’s been difficult to work out the extent to which this is happening.
"But the Census data tell us that the proportion of dwellings that are unoccupied increased by 0.5 percentage points (ppts) to 11.2 percent over the four years to 2016.
"The increase was 0.2 ppts larger than over the four years to the 2011 Census.
"Of the additional stock built over the four years to 2016, around 17 percent has been left unoccupied."
Clifton noted one caveat however is that we don’t know the ownership split between domestic and foreigners owners for this unoccupied housing stock. 
The average home had 2.6 occupants.
But the number of households with six or more people jumped in Sydney over the past five years.
There were 76,323 homes in Sydney with six or more, up 20 percent from the 63,168 five years earlier.
The next biggest increase was among five-person households, which picked up 10.2 percent to 130,712.
Kids staying at home longer, share houses, or multi-generational households, the higher number of people living under one roof is becoming more common.
 
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Empty homes on the rise, but so are more crowded homes: 2016 Census

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<img src="https://counter.theconversation.edu.au/content/80068/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The great Australia dream of owning your own home is still alive despite the various problems plaguing housing affordability, new Census data shows. Even though the overall home ownership trend remains strong, it’s masking other issues.
The latest 2016 Census data assesses what the national home ownership and rental rates are and how these vary location. It also gives us a picture of mortgage and rental costs.
Comparing home ownership rates since the 2011 Census, there’s a slow but steady decline in home ownership rates overall - down by 2.9% from 64.9% of all Australian households in 2006, to 62.0% in 2016. However, 7.4% of households did not state their housing tenure in the 2016 Census. This accounts for some of the variation in reported rates of home ownership decline. 
This contraction is nowhere of the scale of equivalent falls in home ownership in the US and UK and New Zealand over the same period. 
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.14.47%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.14.47%20AM.png" alt=""> 
What’s more interesting than the overall trend, is the greater decline in outright home ownership, involving no mortgage debt, from 31.0% to 29.6% between 2011 and 2016. There’s also a lesser decline in home owners who are purchasing with mortgage debt 33.3% in 2011 compared with 32.4% in 2016. 
The opportunity households now have to borrow against their mortgage loans for spending undoubtedly accounts for some of this change. Also contributing to this is home purchasers are less likely to reach retirement age with no remaining mortgage debt, in the same numbers as previous eras.
Another aspect of housing affordability is masked by these numbers - the wide variation in being able to purchase a home according to age and income. Recent evidence indicates would-be-home-owners try various means including very high mortgage debt and moving to outer urban locations away from employment and into smaller dwellings, to be able to buy a house. Some even delay having kids. 
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.18.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.18.03%20AM.png" alt="">
Census figures show that for people wanting to purchase a home, a change in state or city location may be an option. According to the data Darwin was the most expensive city to buy in, whereas Hobart was the cheapest for home purchasers.
For households across the income spectrum, 7.2% of purchasers are paying more than 30% of their income on mortgage costs, the data shows. This figure is likely to be far higher among the lowest income (40% of households) for whom such costs place them in housing poverty.
Given the national obsession with investment in private rental, it’s no surprise that the proportion of all Australian households now renting has also increased. Census 2016 results show the private rental sector grew in size, from 20.2% in 2006, to 22.0% in 2011 and to 23.6% in 2016. In 2016 a total of 2,089,633 Australian households rented privately, either from real estate agents or private landlords.
The growth of the private rental sector largely reflects the high costs of home purchase. Many households who rent have a relative lack of security and control over rental increases.
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.19.36%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.19.36%20AM.png" alt="">
For those unable to pay rent in the private market, social housing is likely to provide little relief. Census data shows overall rates of social housing declining from 4.7% in 2006 to 4.0% in 2016. In this context, the growth in rates of homelessness in the last decade is perhaps not surprising.
For Indigenous Australians, the housing picture is different. Census 2016 data show among households in which at least one resident is Aboriginal and/or Torres Strait Islander, 12.2% are outright owners, 25.9% are purchaser owners, 32.4% are renting privately. Around a fifth of households, 21.5%, live in social housing, reflecting targeted social housing programs in metropolitan, rural and regional areas.
Overall, home ownership has not changed as dramatically in the last decade, as some would have anticipated. However, it’s likely with the labour market being what it is and the adaptations people are making to try and buy a home, there may be longer-term problems to be seen in future.
Excessive household debt, polarisation of cities into low and high income earning areas and deepening family housing constraints indicate these Census figures likely mask bigger problems. This may translate over time into a more costly social problem, as increasing proportions of households require housing assistance of some form. Australian society could become even more divided on the basis of housing wealth and opportunity, if these trends continue, as we expect they will.
<a href="https://theconversation.com/profiles/wendy-stone-9804" target="_blank">Wendy Stone</a> is Associate Professor, Centre for Urban Transitions, Swinburne University of Technology.
<a href="https://theconversation.com/profiles/kath-hulse-228874" target="_blank">Kath Hulse</a> is Research Professor, Centre for Urban Transitions, Swinburne University of Technology.
<a href="https://theconversation.com/profiles/margaret-reynolds-324336" target="_blank">Margaret Reynolds</a> is Researcher, Centre for Urban Transitions, Swinburne University of Technology.
<a href="https://theconversation.com/profiles/terry-burke-1268" target="_blank">Terry Burke</a> is Professor of Housing Studies, Centre for Urban Transitions, Swinburne University of Technology.
All are authors for The Conversation.
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Home ownership remains strong in Australia but it masks other problems: Census data

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Buying and renovating residential properties have become popular in Horsham, according to Herron Todd White’s latest report.
The property investment firm says that housing affordability is one of the main driving factors.
“The interest in buying and renovating residential properties has been increasingly popular within the Horsham market due to two main driving factors: housing affordability and the increasing popularity of home renovation shows.
“The renovation sector is dominated by owner- occupiers, using this opportunity to enter the property market and slowly develop a house into a home.
“Investors generally do the bare minimum to a property, only making it attractive to prospective tenants.
“The Horsham West area is becoming increasingly popular with buyers, due to its many older style homes that provide an opportunity to be renovated.
“If done to a tradesman like quality, these can achieve greater returns if looking to on-sell.
“While it is an increasingly popular pastime, renovators looking to on-sell a property must always keep in mind the current market conditions and be sure not to over capitalise in order to recoup the cost of the renovation,” the report stated.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-horsham-125679078" target="_blank">233 Blue Ribbons Road</a>, Horsham (above) has been listed for between $435,000 to $465,000.
Similarly a recently renovated four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-horsham-124923710" target="_blank">32 Searle Street</a>, Horsham (below) has been listed for $257,000.
<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/2017/06/20/32%20Searle%20Street.jpg" alt="">
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Renovation work in Horsham rising in popularity: HTW

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Logan Reserve ranks number one as the Queensland locality with highest housing stock growth, according to Investar’s latest June report.
The property investment firm says that Logan Reserve’s house stock has increased by 181 percent, from 64 offerings last year to 180 now.
This is followed by Holmview with 93 percent and Jensen with 89 percent.
<table style="width: 465px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="108">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="82">
Current median price
</td>
<td valign="top" width="70">
Current sales stock
</td>
<td valign="top" width="70">
Sales stock 1 year ago
</td>
<td valign="top" width="70">
Sales stock growth
</td>
</tr>
<tr>
<td valign="top" width="108">
Logan Reserve
</td>
<td valign="top" width="64">
4133
</td>
<td valign="top" width="82">
$416,000
</td>
<td valign="top" width="70">
180
</td>
<td valign="top" width="70">
64
</td>
<td valign="top" width="70">
181%
</td>
</tr>
<tr>
<td valign="top" width="108">
Holmview
</td>
<td valign="top" width="64">
4207
</td>
<td valign="top" width="82">
$425,000
</td>
<td valign="top" width="70">
112
</td>
<td valign="top" width="70">
58
</td>
<td valign="top" width="70">
93%
</td>
</tr>
<tr>
<td valign="top" width="108">
Jensen
</td>
<td valign="top" width="64">
4818
</td>
<td valign="top" width="82">
$476,000
</td>
<td valign="top" width="70">
36
</td>
<td valign="top" width="70">
19
</td>
<td valign="top" width="70">
89%
</td>
</tr>
<tr>
<td valign="top" width="108">
Jacobs Well
</td>
<td valign="top" width="64">
4208
</td>
<td valign="top" width="82">
$511,500
</td>
<td valign="top" width="70">
57
</td>
<td valign="top" width="70">
32
</td>
<td valign="top" width="70">
78%
</td>
</tr>
<tr>
<td valign="top" width="108">
Helidon
</td>
<td valign="top" width="64">
4344
</td>
<td valign="top" width="82">
$315,000
</td>
<td valign="top" width="70">
32
</td>
<td valign="top" width="70">
18
</td>
<td valign="top" width="70">
77%
</td>
</tr>
<tr>
<td valign="top" width="108">
Brookwater
</td>
<td valign="top" width="64">
4300
</td>
<td valign="top" width="82">
$679,000
</td>
<td valign="top" width="70">
62
</td>
<td valign="top" width="70">
36
</td>
<td valign="top" width="70">
72%
</td>
</tr>
<tr>
<td valign="top" width="108">
Griffin
</td>
<td valign="top" width="64">
4503
</td>
<td valign="top" width="82">
$479,000
</td>
<td valign="top" width="70">
176
</td>
<td valign="top" width="70">
104
</td>
<td valign="top" width="70">
69%
</td>
</tr>
<tr>
<td valign="top" width="108">
Rockville
</td>
<td valign="top" width="64">
4350
</td>
<td valign="top" width="82">
$280,000
</td>
<td valign="top" width="70">
37
</td>
<td valign="top" width="70">
22
</td>
<td valign="top" width="70">
68%
</td>
</tr>
<tr>
<td valign="top" width="108">
Collingwood Park
</td>
<td valign="top" width="64">
4301
</td>
<td valign="top" width="82">
$382,000
</td>
<td valign="top" width="70">
175
</td>
<td valign="top" width="70">
105
</td>
<td valign="top" width="70">
66%
</td>
</tr>
<tr>
<td valign="top" width="108">
Caloundra West
</td>
<td valign="top" width="64">
4551
</td>
<td valign="top" width="82">
$449,500
</td>
<td valign="top" width="70">
252
</td>
<td valign="top" width="70">
161
</td>
<td valign="top" width="70">
56%
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-logan+reserve-125458590" target="_blank">Lot 638 Livingstone Street</a>, Logan Reserve (above) has been listed for $405,500.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-logan+reserve-124586378" target="_blank">17 Lake Broumba Street</a>, Logan Reserve (below) was sold in March for $415,000.
<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/2017/06/13/17%20Lake%20Broumba%20Street.jpg" alt="">
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Logan Reserve ranks first for highest housing stock growth in Queensland: Investar

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Figures released from the 2016 Census of Population and Housing by the ABS shows the proportion of those owning their own homes outright has declined, falling to 31 percent in 2016 compared to 41.1 percent in 1991.
Census data released today shows residents with mortgages now account for 34.5 percent of the total, up from 27.5 per cent in 1991.
The census also found renters account for 30.9 percent, up from 26.9 percent in 1991.
"Australia's highest mortgages are paid by Sydneysiders, whose median repayments are around $2200 per month," the census found.
Home ownership dropped faster in Sydney than the national average, the latest census figures show.
Total dwelling ownership in the NSW capital dropped to 62.3 per cent in 2016 from 65.2 per cent five years earlier as both outright and mortgage-ownership fell. 
The nationwide home ownership rate dropped 1.5 per cent to 65.5 per cent between 2011 and 2016, but there were notable differences from city to city.
Nationally, home ownership fell to 65.5 per cent since the last census from 67 per cent. 
Darwin mortgages also sit around $2200 per month.
Canberra is next with $2100 per month, followed by Perth ($1950) and Brisbane ($1800). Melburnians pay $1750 per cent, while those in Adelaide pay $1500, just head of Hobart with $1450.
Similarly rents are highest in Sydney -- $440 per week - followed by Darwin ($420) and Melbourne ($350).
Sydney remains the most most expensive city with 14.2 percent of residents devoting more than 30 percent of their incomes on rents.
The proportion of tenants in Sydney increased from 31.6 per cent in 2011 to 34.1 per cent in 2016, making them the most dominant group in the city. Home owners with a mortgage declined from 34.8 per cent to 33.2 per cent. Fewer Sydneysiders owned their home outright – down to 29.1 per cent from 30.4 per cent in 2011.
The ABS Census noted we’re still a nation of home owners, or aspirational home owners, with 31 percent of Australian homes owned outright and 34 percent owned with a mortgage – leaving 31 percent being rented.
While separate houses still account for most homes in Australia (72 percent), there’s been a large increase in other forms of dwelling, such as flats, apartments, semi-detached, row housing or town housing, which now make up more than a quarter (26 percent) of Australian housing – all higher density residential development. 
"Of the 8.3 million occupied private dwellings, seven in 10 housed families (69 percent by one family and 1.9 percent by multiple families), one in four were one-person households, and one in 25 were group households," the Census papers noted.
The nation's diversity is also reaching what the bureau described as "a tipping point" - with 49.3 per cent of the population either born overseas, or born to parents who were born overseas.
Around 50.7 per cent described themselves as "third-generation" or more.
While the biggest number of overseas-born Australians still started life in either England or New Zealand, the last decade has seen the largest number of migrants coming from India (accounting for 13.7 per cent); China (13.3 per cent), followed by England (7.9 per cent), NZ (7.7) and The Phillipines (6 per cent).
Around 2 million migrants live in NSW - accounting for 28 per cent of that state's resident population.
Another 1.7 million live in Victoria (28 per cent of the total), followed by 1.02 million in Queensland (22 per cent), 797,000 in Western Australia (32 per cent), 384,097 in South Australia (26 per cent) and 61,240 in Tasmania (12 per cent).
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Australia's highest mortgages paid by Sydneysiders as ownership slips: ABS Census 2016

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The first stage release of Ascot Green, the $950 million residential masterplan at the historic Eagle Farm Racecourse in Brisbane developed by Mirvac is now on the market.
Stage One of Ascot Green will feature two towers, Ascot House and Tulloch House, with one, two, three and four bedroom apartments.
The nine storey Ascot House and 12 storey Tulloch House, both have expansive rooftop terraces with views.
Each apartment has large open plan living areas, bedrooms with extensive storage and very generous balconies overlooking the racetrack to the north or out towards Brisbane city to the south. 
Mirvac general manager of residential in Queensland Warwick Bible says Ascot Green was an Australian first, the first residential development to be built alongside a racecourse.
“Despite being surrounded by open space and greenery afforded by the Eagle Farm Racecourse, Ascot Green is unique in that it is just a few kilometers away from Brisbane city and very well connected to main transport routes and surrounded by established lifestyle amenity of Racecourse Road,” he noted.
Eagle Farm Racecourse is steeped in history, having been the centre of Ascot for some 150 years.
“To have this parcel of land become available is a truly unique opportunity as Ascot is renowned as one of Brisbane’s premier blue-chip suburbs and some of Brisbane’s best homes can be found in the 4007 post code. Ascot Green is an extension to this fantastic suburb.”
Ascot House is currently under construction, with the first residents scheduled to move in mid-2018.
For more information, <a href="https://ascotgreen.mirvac.com/?utm_source=Property+Observer+List&amp;utm_campaign=ddbce96d96-EMAIL_CAMPAIGN_2017_06_22&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-ddbce96d96-245386345" target="_blank">click here</a>.
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First stage release of Eagle Farm, Brisbane's trackside Ascot Green

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A six bedroom house at Arcadia, the semi-rural Sydney location, has been listed for sale.
The two level <a href="https://www.realestate.com.au/property-house-nsw-arcadia-125515414">Berrilee Ridge</a> has been situated so that views can be seen from every room.
Situated on 25 acres of natural bush setting it features not only the main residence, but also a separate Coach House and barn.
The main residence features Gosford sandstone walls and deep stone verandahs.
The living room features its own fireplace while the spacious dining room and lounge gives unrestricted views over the property.
<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/Arcadia-2.jpg" alt="">
The kitchen has stone benchtops, butler’s pantry, Ilve double oven and gas cooktop.
Five bedroom all have their own walk-in robes, sitting areas and the master bedroom comes with spa ensuite.
Other features includes a natural rock pool with beach, timber deck and stone terraces.
The Coach House is fully self-contained and has a four car garage.
The property is offered through Ray White agent Sandra Ward.
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Six bedroom Arcadia house, Berrilee Ridge, listed for sale

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A Woollahra house has been sold for the first time.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-woollahra-125623350" target="_blank">5 Weldon Lane</a>, off Holdsworth Street, it came to the market for the first time since it was purchased new in 1987 for $380,000.
The double garage has side-by-side parking while the upper level bedrooms has a master with ensuite and north facing balcony.
The home was marketed by Daniel Baran &amp; Reece Coleman from Stone Double Bay.
The property was marketed with a $3.8 million price guide.
The home was offered by the Merlini family following the passing last month of Estela Merlini, wife of the late Michael Merlini, former Pan Am &amp; United Airlines general manager for Australia.
The home is one of five near identical “terraces” built in Weldon Lane in the mid-1980s on the site of old Eyles Woollahra Swimming Pool, where the former Olympic Coach and Bondi legend, Sep Prosser, was notorious for pushing his students into the water to learn to swim. 
The pool had been built in the 1960s on the site of the Morrison’s “Famous” Cake Factory.
This is the first sale in the street since 1998. 
<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/2017/06/21/Screenshot_2.jpg" alt="">
Only 100m to Queen Street cafes, the 251sqm offering provided a canvas for a contemporary makeover with oversized living areas, three large bedrooms on the first floor and a prized Woollahra double garage.
It has its own laneway with an extra-wide 9 metre street frontage with generous open living spaces and front and rear court gardens.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/21/Screenshot_3.jpg" alt="">
 
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1980s Woollahra home sold for first time

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Star Hotels has snapped up the Kingsford Smith Motel at 610 Kingsford Smith Drive, Brisbane, for around $6 million from Charlton Hotels.
Kingsford Smith Motel is located in the prestigious suburb of Hamilton and is within close proximity to the Brisbane airport and cruise ships terminal.
The 4 Star motel offers 36 rooms in seven styles, WIFI, Air Conditioning, Cable/Satellite TV, swimming pool and a two bedroom manager’s apartment.
Nic Simarro, Senior Sales Executive for Hotels at Savills who negotiated the off market transaction said due to the lack of hotel stock available in CBD locations, current investors and funds management groups have been very aggressive with pricing in order to deploy capital”
“This is creating a highly competitive market for hotel assets across Australia, proving it really is a “vendors’ market” he continued.
The Kingsford Hotel, Brisbane is also on the market through the Hotels team at Savills and the Kingsford Riverside Inn, Brisbane recently sold $2.5m by the team.
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Star Hotels snaps up Kingsford Smith Motel, Brisbane through Savills

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

Joel Robinson

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

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

Boutique Gordon townhomes now come with a BMW iX3 50

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

Staff reporter

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