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Melbourne’s Outer East region had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 89 auctions in the Outer East 88.8 percent resulted in a successful outcome.
This is followed by the North East with 81.6 percent and the North West with 81.3 percent.
<a href="https://www.propertyobserver.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2011.21.10%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/29/Screen%20Shot%202017-05-29%20at%2011.21.10%20am.jpg" alt="">
With only 68.7 percent of its 201 auctions cleared the Inner region had the lowest auction clearance rate.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-ashwood-125351978">235 High Street Road</a>, Ashwood (above) was sold for $1.32 million.
Similarly a three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-malvern+east-125362438">3/1 Grant Street</a>, Malvern East (below) was sold for $1.06 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/29/3_1%20Grant%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Outer East Melbourne region take highest auction clearance rate: CoreLogic

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Geelong takes the top spot for highest weekend regional auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of 27 auctions in Geelong 92.6 percent resulted in a successful outcome.
This is followed by Wollongong with 85.2 percent and Sunshine Coast with 59.1 percent.
<a href="https://www.propertyobserver.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2011.21.18%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/2017/05/29/Screen%20Shot%202017-05-29%20at%2011.21.18%20am.jpg" alt="">
Gold Coast had the lowest auction clearance rate with only 48 percent of its 50 auctions cleared.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-highton-125354338">15 Ferndale Parade</a>, Highton (above) was sold for $650,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-belmont-125350342">15 Collins Street</a>, Belmont (below) was sold for $575,000.
<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/2017/05/29/15%20Collins%20Street.jpg" alt="">
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92 percent of Geelong weekend auctions cleared: CoreLogic

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A three bedroom apartment at Melbourne with views has been listed for sale.
Located at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-125202790" target="_blank">2106/368 St Kilda Road</a>, the 264 sqm property has an easterly location and decorated by Toni Franchi.
It currently belongs to former principal and CEO of Willis Management Consultants Bob Willis.
It was last sold in 2007 for $2.4 million and built in 2006.
Another home on the 21st floor sold in March having last traded for $3,235,000 in 2014.
Colonnade links a dining room and bar with formal and casual living areas.
Marble kitchen features Gaggenau appliances, built-in Miele coffee machine and plate warmer.
<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/2017/06/01/2106_368%20St%20Kilda%20Road-2.jpg" alt="">
Main bedroom features ensuite with marble encased bath and dressing room while two additional queen-sized bedroom have their own en suite.
The property has parking for three cars, library, conference room, swimming pool, spa, sauna and large storage area for wines.
Finishes includes gas marble fireplace, chandeliers and light fittings.
The property is being offered through Kay &amp; Burton agents Tom Staughton and Nicole Gleeson.
 
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Toni Franchi-decorated St Kilda Road, Melbourne apartment listed for sale

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An old-style two bedroom Sheridan Close apartment at Melbourne has been sold for $570,000.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-vic-melbourne-125363874" target="_blank">14/485-489 St Kilda Road</a>, the property has a street frontage and is set in a garden setting with Melbourne’s most attractive gardens as the backyard.
It was built in 1945 and it was last sold in 1986 for $53,000.
The Kitchen connects via a servery to the lounge/dining which overlooks the park and also has stainless steel kitchen appliances and stone benches.
One of the bedrooms features a large mirrored robe.
<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/2017/06/01/14_485-489%20St%20Kilda%20Road-2.jpg" alt="">
Other features includes parking space.
Close proximity to city fringe, bordering parkland and around the corner from amenities.
The property was offered through Marshall White agents Matthew Grima and Bradley Steinbach.
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Old-style two bedroom Sheridan Close, Melbourne apartment sold

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GUEST OBSERVER
In 1956, US geophysicist M. King Hubbert predicted that the rate of petroleum production for a given geographic area follows a hump-shaped curve, and that the world would reach “peak oil” production in 1970.
And, as the figure shows, Hubbert was pretty right about the peak part, not so much about the inevitable decline thereafter. But the reason “Hubbert Peak” is in the zeitgeist is because once something peaks there is a natural narrative about its secular decline thereafter.
<a href="https://www.propertyobserver.com.au/images/2017/06/01/file-20170601-25664-18glgj0.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/01/file-20170601-25664-18glgj0.png" alt="">
The Hubbert Peak. Red line = predicted Green line = actual. Wikipedia
Perhaps that’s why there has been so much focus this week on the possible peak of Sydney housing prices, and even Australian equities. The CoreLogic hedonic price index was down in May by 1.3% in Sydney and 1.7% in Melbourne.
This was met with some relatively measured responses like that of AMP economist Shane Oliver who tweeted: “May is weak seasonally so exaggerates but the boom is likely over…”  
That seems like an awful lot of faith to put in one datum point. But perhaps Oliver and others are right. And perhaps there is a very happy story where more supply is coming online while demand is being cooled by APRA’s crackdown on interest-only loans to investors.
Partially consistent with that happy scenario, the ABS reported that new housing approvals in April were up by 4.4% on a seasonally-adjusted basis, helping claw back some of the 10.3% decline (on revised figures) from the previous month.
On the demand side, however, figures released by the RBA on Wednesday showed investor credit up 0.6% on a seasonally-adjusted basis in April – a rate of growth unchanged from March. That put annual growth at 7.3%. If APRA’s measures have given investors pause then it doesn’t seem to have filtered through to the data yet.
Altair Asset Management chairman Philip Parker was worried not only about the housing market, but the ASX as well. In a remarkable decision, Altair announced that it “was to sell all the underlying shares in the Altair unit trusts and to then hand back the cash to those same managed fund investors”.
This sort of thing doesn’t happen every day – particularly by a fund manager with a 30-year track record. Or, as Parker put it: “Giving up management and performance fees and handing back cash from investments managed by us is a seminal decision, however preserving client’s [sic] assets is what all fund managers should put before their own interests.”
Parker expressed serious concerns about China, the US, and equity valuations in Australia. But his chief concern was property-driven household debt in Australia, saying: “When you speak to people candidly in the banks, they’ll tell you very specifically that they are extraordinarily worried about the over-leverage of the Australian population in general.” 
It’s not just Parker who is worried. Melbourne-based funds manager JCP Investment Partners recently warned that interest-only loans could be to Australia what sub-prime mortgages were to the US at the brink of the financial crisis. The RBA’s increasingly urgent observation that around one-third of mortgage holders don’t have a month’s payment buffer is certainly consistent with that.
The deeper worry is that the Australian banks have been lending – both on interest-only and amortising loans – far too much as a proportion of people’s incomes. I don’t know if Australian banks have been overlending, but here’s a little test. Suppose one puts the same post-tax income and expense variables into a big-4 bank calculator in Australia and a major national US bank. Which says you can borrow more, and by how much?
I did that exercise for a couple both earning A$80,000 pre-tax with two children, no other debts, a modest credit card limit, and reasonable expenses. I then did the same for the same income and expense profile in the US (but in US dollars with US tax rates). Banks taking equivalent risks should lend those hypothetical couples the same amount.
The US lender would allow maximum monthly repayments of $3,733. The Australian lender would allow $4,709. More than 26% more.
I don’t know if we have reached peak anything in Australia. But the real question is, if we have, what does the other side of the curve look like? The US petroleum data, or Hubbert’s scary curve?
Richard Holden is professor of Economics and PLuS Alliance Fellow, UNSW and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">here</a>.
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Have we finally reached "peak" house prices? Richard Holden

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The former RBA governor Glenn Stevens has blamed yields arising from negative gearing for the lack of investment by corporates in rental housing.
<div class="cq-article-content-paras section">
He also endorsed a crackdown on tax concessions for negative gearing in his first major public report since leaving his old job.
Glenn Stevens provided the report for the NSW government's housing affordability package.
Blaming negative gearing for the lack of investment by corporates in rental housing, Stevens said Australia's rental stock was in the hands of individuals rather than corporate investors at least in part because of negative gearing and capital gains tax concessions.
"Individuals are prepared to accept very low rental yields because of the tax concessions.
"Institutional investors are unlikely to find those yields attractive.
"It would be a bad mistake to offer them a separate round of tax concessions or subsidies in order to secure their involvement. It would be better to lessen the generosity of the concessions to individuals."
</div>
<div class="cq-article-content-media section">He said the Commonwealth tax experts should investigate the matter.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The NSW government's package was released on Thursday by Premier Gladys Berejiklian.</div>
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Glenn Stevens blames negative gearing for lack of corporate housing investment 

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Multiplex has topped out its $180 million Paddington over 55s development The Terraces, located at the Scottish Hospital site on Brown Street, Sydney.
The Terraces is owned and operated Presbyterian Aged Care (PAC) in NSW. Construction topped out at level eight.
The Terraces at Paddington, designed by JPR Architects, will feature a 100 bed facility including a 23-bed dementia unit. The new retirement village includes 70 new seniors’ independent living units across four new buildings.
<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/2017/04/12/Bruce%20Christian%20Chairman%20of%20PAC%20Committee%20Harry%20Young%20Regional%20%20Director%20NSW%20Multiplex%20Paul%20Sadler%20CEO%20PAC.jpg" alt="">
The Scottish Hospital heritage building will house nine seniors apartments.
As part of the project, Presbyterian Aged Care are dedicating 1,300 square metres of land to the community for an expansion of the Dillon Street reserve park at the north of the site.
<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/2017/04/12/Bruce%20Christian%20Chairman%20of%20PAC%20Committee%20in%20yellow%20at%20the%20%20concrete%20Adam%20Stante%20Project%20Manager%20Multiplex%20Paul%20Sadler%20on%20the%20right%20%20CEO%20PAC.jpg" alt="">
Completion of the entire project is expected by early 2019.
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Multiplex tops out Paddington aged care project

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First National Real Estate Byron Bay has won the Sales Office of the Year award at the company's General Excellence and Marketing Awards.
The Top 10 sales offices for the network in Australia for 2016 were:
1.    First National Real Estate Byron Bay (NSW) Sales Office of the Year
2.    First National Real Estate Hunters Hill, Gladesville, Ryde (Gladesville, NSW)
3.    First National Real Estate Surfers Paradise (Qld)                      
4.    First National Real Estate Tweed Sutherland (Bendigo, Vic)
5.    First National Real Estate Collie &amp; Tierney (Mildura, Vic)
6.    First National Real Estate Waverley City (Glen Waverley, Vic)
7.    First National Real Estate Rayner (Bacchus Marsh, NSW)
8.    First National Real Estate Port Macquarie (NSW)
9.    First National Real Estate Daystar (Padstow, NSW)
10.    First National Real Estate Epping Central (Epping, NSW)
Queensland office First National Real Estate Brassall won Residential Property Management Department of the Year and First National Real Estate Pope Nitschke (Mt. Barker, SA) won Commercial Property Management Department of the Year.
The Top 10 Salespeople taking home Chairman’s Circle GEM Awards:
1.    George Rafty, First National Real Estate Newcastle City (The Junction, NSW) Salesperson of the Year
2.    Michael Sleiman, First National Real Estate Daystar (Padstow, NSW)
3.    Allison Mifsud, First National Real Estate Epping Central (Epping, NSW)
4.    Ruma Mundi, First National Real Estate Hills Direct (The Ponds, NSW)
5.    Ryan McCann, First National Real Estate Cleveland (QLD)
6.    Catherine Murphy, First National Real Estate Epping Central (Epping, NSW)
7.    Huss Alsalemi, First National Real Estate Macarthur (Minto, NSW)
8.    Michael Alexander, First National Real Estate Michael Alexander (Harrington Park, NSW)
9.    Benjamin Mulae, First National Real Estate Hunters Hill, Gladesville, Ryde (NSW)
10.    Russell Rollington, First National Real Estate Surfers Paradise (QLD)
Kathy Smart of First National Real Estate O’Donoghues (Darwin, NT) was named Property Manager of the Year and Ashleigh Lambert-Bignell of First National Real Estate North Haven (NSW) Property Manager Rookie of the Year. 
Tiago Neves from First National Real Estate Bonnici &amp; Associates (Wodonga, Vic) was named Sales Rookie of the Year.
Kylie Sharp of First National Real Estate Nick van Vliet (Willunga, SA) was named Administrator of the Year and Jessica Atkins of First National Real Estate Cleveland (QLD) was named Receptionist of the Year. 
Russell Burton from First National Real Estate Burton Groves (Tea Tree Gully, SA) received the network’s highest honour, the Kaye Heath Memorial Award.
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First National announces company's annual award winners

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Cowra is the cheapest locality in New South Wales to purchase a unit, according to Investar’s latest May report.
The property investment firm says that the median price for a unit in Cowra is $135,000.
This is followed by Corowa and Deniliquin with $140,000 and Narooma with $142,000.
<table style="width: 438px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="92">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="81">
Bedrooms
</td>
<td valign="top" width="104">
Current median price
</td>
<td valign="top" width="97">
Median price 1 year ago
</td>
</tr>
<tr>
<td valign="top" width="92">
Cowra
</td>
<td valign="top" width="64">
2794
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="104">
$135,000
</td>
<td valign="top" width="97">
$127,000
</td>
</tr>
<tr>
<td valign="top" width="92">
Corowa
</td>
<td valign="top" width="64">
2646
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="104">
$140,000
</td>
<td valign="top" width="97">
$152,500
</td>
</tr>
<tr>
<td valign="top" width="92">
Deniliquin
</td>
<td valign="top" width="64">
2710
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="104">
$140,000
</td>
<td valign="top" width="97">
$118,000
</td>
</tr>
<tr>
<td valign="top" width="92">
Narooma
</td>
<td valign="top" width="64">
2546
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="104">
$142,000
</td>
<td valign="top" width="97">
$150,000
</td>
</tr>
<tr>
<td valign="top" width="92">
Murwillumbah
</td>
<td valign="top" width="64">
2484
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="104">
$145,000
</td>
<td valign="top" width="97">
$140,000
</td>
</tr>
</tbody></table>
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-corowa-125400014" target="_blank">8/73 Tower Street</a>, Corowa (above) has been listed for $145,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-deniliquin-122923510" target="_blank">3/456 Cressy Street</a>, Deniliquin (below) has been listed 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/2017/05/24/3_456%20Cressy%20Street.jpg" alt="">
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Cowra and Deniliquin second cheapest NSW locality for units: Investar

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Western Melbourne suburbs residential markets remain very strong, according to Herron Todd White’s latest report.
The property valuation firm says that record prices in Kensington, Ascot Vale and Newport has been experienced.
“The current state of the market within the inner western suburbs for established dwellings remains very strong, with record prices experienced, in particular suburbs such as Kensington, Ascot Vale and Newport.
“However like much of Melbourne, the apartment market has stalled with the addition of a large quantity of new stock over recent years.
“In particular apartments built within the past ten years are feeling downward pressure as new, modern buildings are more attractive to buyers and tenants
“The mid-western suburbs have seen a shift in buyer prolife with a large number of smaller developers looking to purchase existing dwellings on larger lots to develop into new townhouses and villas.
“This has seen increase in demand through established suburbs such as Altona, St Albans and Sunshine with strong results, however, we’ve seen a premium paid by developers (to that of owner- occupiers) in some instances, pricing out owner- occupiers,” the report stated.
Herron Todd White says that prices close to the CBD are becoming pressured despite demand for good quality housing.
“Demand still remains strong for good quality housing as pricing pressure is felt closer to the CBD, which becomes ‘unprofitable’ for developers due to the added value of the improvements.
“The first-home buyer market remains buoyant with continuing demand for new properties,” the report advised.
Changes to stamp duty and First Home Owners Grant will make purchasing a property affordable for first-home buyers.
“With changes being made on 1 July 2017 to the First Home Owners Grant and stamp duty, the Victorian State Government has announced that stamp duty will be abolished for first-home buyers purchasing a home with a dutiable value of no more than $600,000.
“Eligible first-home buyers of new homes in metropolitan Melbourne will continue to receive $10,000 and regional first-home buyers will be entitled to an increased grant of $20,000.
“With these incentives from the Victorian State Government, the house and land market is expected to remain stable in the outer western suburbs such as Werribee, Wyndham Vale, Point Cook, Tarneit and Truganina,” the report stated.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-ascot+vale-125510382" target="_blank">1/81 Walter Street</a>, Ascot Vale (above) has been listed for between $350,000 to $385,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-newport-125377526" target="_blank">2/35 Maddox Road</a>, Newport (below) has been listed for between $580,000 to $610,000.
<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/2017/05/19/2_35%20Maddox%20Road.jpg" alt="">
A two bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-vic-kensington-125256778" target="_blank">109/18 Bent Street</a>, Kensington (below) was recently sold for $730,000.
<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/2017/05/19/109_18%20Bent%20Street.jpg" alt="">
Similarly a one bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-vic-ascot+vale-124908238" target="_blank">3/171 Kent Street</a>, Ascot Vale (below) was recently sold for $275,000.
<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/2017/05/19/3_171%20Kent%20Street.jpg" alt="">
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Western Melbourne suburbs residential market remain very strong: HTW

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

Joel Robinson

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

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]

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]

Staff reporter

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