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Brisbane property developer Brendan Tutt is selling a beachfront Bribie land parcel.
"Positioned on arguably one of the best stretches of beach on the east coast is this large 3235sq m block of prime beachfront land consists of five individual lots of 647sq m each on separate titles to be sold in one line or individually," Mr Tutt said.
Ray White Ascot principal Dwight Ferguson said Bribie Island had a pristine landscape with the beautiful Pumicestone Passage on one side and kilometres of open surf beach on the eastern side with 4x4 vehicle access.
"This land offers a lifestyle second to none."
The land is selling through an expression of interest campaign closing Thursday May 18.
"It's a corner block with total land size 3235sq m total frontages of over 120m.
The site consists of 5 separate lots of 647m2 each with frontage of 16m," Mr Ferguson said.
"It would suit multiple uses for an apartment development or individual house lots zoned general residential under Moreton Bay planning scheme."
The land is at <a href="https://www.realestate.com.au/property-residential+land-qld-woorim-201785386" target="_blank">68 - 76 Rickman Parade, Woorim</a> (Bribie Island).
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j.ballantyne1990-6AQqhLzZaK

Rare land offering at Bribie Island

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The strongest locations on the NSW mid north coast for residential markets are generally the larger regional towns including Port Macquarie, Wauchope, Forster and Tuncurry, according to Herron Todd White’s latest report.
The property valuation firm says that pockets within the Port Macquarie region include established coastal areas as well as coastal villages immediately south such as Lake Cathie and Bonny Hills.
These areas are a mixture of older homes that have been either renovated or not and new homes either constructed or under construction (especially in the southern villages).
All of these areas are within close proximity of the beaches and local services.
HTW states investors can expect three bedroom homes to cost half a million dollars.
“Entry points for houses within these areas range from $500,000 for a standard 3-bedroom home to $750,000 for something that may have ocean or golf course views or is above average.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-125197590" target="_blank">18 Newmarket Grove</a>, Port Macquarie (above) has been listed for $498,500.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-forster-125126470" target="_blank">5 Carawa Street</a>, Forster (below) has been listed for $510,000.
<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/2017/04/20/5%20Carawa%20Street.jpg" alt="">
This is well above prices in 2014 when the entry point would have been in the low $400,000 range.
Land sales within the new residential subdivisions on the outer fringes of Port Macquarie at Sovereign Hills and surrounding areas are being sold quickly with demand outstripping construction at present.
With the current fast paced rate of sale and no further large scale residential developments for release in the immediate future, land and house prices are expected to continue to increase.
This domino effect will also fuel demand and most likely increase land prices in other subdivisions in other regional towns as people look to these areas for more reasonable pricing,” the report advised.
HTW notes that unit sales are increasing, perhaps to allow investors or first home owners an opportunity to enter the market.
“The most keenly sought after properties are family friendly dwellings, either houses or large villas, either renovated or un-renovated in areas throughout the mid north coast.
However as house property prices increase we have noticed an increase in unit sales, allowing the investor or first home owner the opportunity of entering the market at the lower end,” the report stated.
HTW says that lack of stocks and low interest rates are the primary drivers of the market.
“Strong demand, lack of available stock for sale and low interest rates appear to be the major drivers of the local real estate market and are causing rising housing prices throughout most of the mid north coast,” the report stated.
Is it sustainable asks HTW.
“That is the key question at present.
As banks increase interest rates for investment property loans we may see a slight slowing in this sector.
However it is likely that owner-occupiers will take up any slack in demand, thus keeping the market moving.
Barring any major downturn in the overall economy, the continuing rising demand and increasing prices should allow the mid north coast market to remain strong over the coming months,” the report stated.
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North Coast residential market driven by low interest rates and lack of stock: HTW

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The Inner West has continued to defy expectations with the market going from strength to strength across all suburbs, according to Herron Todd White’s latest report.
The property valuation firm says that auction results continue to hover between 85% and 90% with the continued lack of stock now being the main driver.
"The strongest growth has been for houses in the $2 million to $4 million price bracket and although growth has slowed for units, the $1 million to $1.5 million price bracket has been the strongest.
The suburb of Rozelle has seen some of the strongest growth across the inner west with a 2016 median house price of $1.577 million, up 13.5% from 2015 (source: PriceFinder)," the report advised.
Rozelle has always been a highly sought after suburb and demand is driven by proximity to the CBD, excellent bus services and the café culture.
"Rozelle comprises a mixture of property styles, with period style homes traditionally in the highest demand.
As with many period style homes in the inner western suburbs, high quality renovations and well-designed extensions tend to achieve premium prices.
An example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-rozelle-124483558" target="_blank">202 Evans Street</a>, Rozelle (above) which sold on 10 February 2017 for $3 million.
This circa 1900s property is situated on a 251 square metre allotment and has been renovated and extended, comprising 4-bedroom, 2-bathroom accommodation with a single lock-up garage," the report stated.
The main demand for this price point in Rozelle is from the owner-occupier market rather than the investor, as owner-occupiers see greater opportunity with dated or dilapidated properties in need of renovation.
“Although we expect houses in Rozelle to see continued growth, we predict it to be more subdued than the previous three years,” the report stated.
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Sydney Inner West residential market continues to defy expectations: HTW

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A total of 18,074 residential houses and agricultural properties transacted across the regional areas of Queensland over the 12 months to November 2016, according to Landmark Harcourts’ latest Benchmark Report (<a href="https://content.landmarkharcourts.com.au/Content/Benchmark-Property-Data-Report" target="_blank">bit.ly/LHBenchmark</a>).
This represents a fall in sales volume when compared to the previous year, down -8.4% or 1,651 fewer transactions.
The 18,074 sales are made up of 16,454 residential properties and 1,620 agricultural properties and they account for $7.2 billion worth of sales over the last 12 months, down -8.1% from one year ago.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.01%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.01%20pm.jpg" alt="">
Over the year to November 2016, 1,620 agricultural properties sold across regional Queensland.
Although sales volumes fell by -6.8% over the last 12 months, the total value of sales increased by 7.8% to $1.8 billion over the same period.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.17%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.17%20pm.jpg" alt="">
The 1,620 agricultural properties accounted for just 9% of the total transactions across regional Queensland this year, and of these sales, 14.2% were on less than 40 hectares, 35.7% between 40 to 100 hectares.
35.6% were on lots between 100 to 1,000 hectares and 14.4% were on land greater than 1,000 hectares in size.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.29%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.29%20pm.jpg" alt="">
Of the $1.8 billion worth of agricultural sales for the year ending November 2016, sales over 1,000 hectares accounted for 52.1% of the overall value of agricultural sales.
This is followed by properties on lots ranging from 100 to 1,000 hectares (26.9%), 40 to 100 hectares (15.2%) and less than 40 hectares (5.8%).
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.42%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.42%20pm.jpg" alt="">
A 40 acre rural property at <a href="https://www.realestate.com.au/property-other-qld-jones+hill-7876738" target="_blank">24 Macadamia Road</a>, Jones Hill (above) has been listed for over $800,000.
Similarly a 110 acre mixed farming property at <a href="https://www.realestate.com.au/property-mixed+farming-qld-theebine-7891118" target="_blank">572 Kanyan Road</a>, Theebine (below) has been listed for $750,000.
<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/2017/04/4/572%20Kanyan%20Road.jpg" alt="">
A 50 acre rural property at <a href="https://www.realestate.com.au/sold/property-other-qld-lower+beechmont-7859346" target="_blank">72 Freemans Road</a>, Lower Beechmont (below) was sold this March for $980,000.
<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/2017/04/4/72%20Freemans%20Road.jpg" alt="">
Similarly a 15 acre rural property at <a href="https://www.realestate.com.au/sold/property-lifestyle-qld-kureen-7832078" target="_blank">LS1286 117 Peeramon Road</a>, Kureen (below) was sold this March for $520,000.
<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/2017/04/4/LS1286%20117%20Peeramon%20Road.jpg" alt="">
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Queensland rural sales volume falls by 8%: Harcourts

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A South Melbourne development site has been listed for sale.
The property at <a href="https://www.commercialrealestate.com.au/property/5-7-park-street-south-melbourne-vic-3205-2013527890" target="_blank">5-7 Park Street</a> is set on a 409 sqm parcel in the heart of one of Melbourne’s most established suburbs with both commercial and residential development opportunities.
Offered through Colliers International, the commercial property comes with a development scheme for 43 large luxury apartments.
David Sia, Daniel Wolman and Hamish Burgess are marketing the property.
 
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South Melbourne development site listed for sale

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CBRE has been appointed to unload an office building in the northern end of Melbourne’s St Kilda Road business precinct.
Located on the corner of St Kilda Road and Kings Way, the 420 St Kilda Road property comprises a 10-level office building leased to major covenants, including ANZ bank and APP Corporation.
An International Expressions of Interest campaign will be launched next month to promote the asset, which boasts 10,500sqm of net lettable space, on behalf of CEL Australia.
Over the past 24 months, the St Kilda Road office market has emerged as an attractive investment market, recording one of the highest rates of net effective rent growth nationwide of over 9%.
Commenting on the listing, CBRE’s Kiran Pillai remarked that the property was well positioned to capitalise on the continued strong demand from tenants for this location.
“Steady withdrawals of secondary space in St Kilda Road for conversion and redevelopment has underpinned incredibly strong tenant demand for space in the remaining prime grade buildings,” Pillai said.
“The property’s prime corner position at the northern end of the precinct, combined with an efficient floor plate allowing for an adaptive asset plan, will hold the asset in excellent stead long into the future.”
The location is expected to further benefit from the new Melbourne Metro Rail project with the Domain station to be located within around 300 metres of 420 St Kilda Road.
CBRE senior director Neva Courts added the St Kilda Road market had emerged as a key investment destination for domestic and offshore investors.
“420 St Kilda Road offers both security of income and growth in the short to medium term in addition to long term opportunities for the site, which could include a potential redevelopment to residential or hotel,” she explained.
Michael Ng, executive director of CEL Australia, said the sale of 420 St Kilda Road will allow CEL Australia to redeploy funds into our current development projects in Melbourne and Perth in order to seek higher returns. 
“We are also looking into new development and investment opportunities across key Australian cities.”
The 420 St Kilda Road property has come to the market after the recent sale of 5 Queens Road in late 2016, by Charter Hall’s Office Trust. The sale, also brokered by CBRE, represented a passing yield of 5.64% and capital value of $6,665/sqm.
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CEL Australia lists prominent St. Kilda office tower

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$500,000 has been raised during the 2017 Charity Regatta to build a home for homeless youth, under the Foundation’s PIF House Program. Held at the Middle Harbour Yacht Club, the event was sponsored by Colliers International for the seventh year.
Property Industry Foundation national board member and Colliers International ANZ CEO, John Kenny, reflected on the fact every night across Australia there are over 44,000 young people who are homeless.
“Our support for the Foundation and the Regatta is a tangible way for Colliers International to make a real difference to the serious and persistent problem of youth homelessness,” he said.
In the lead up to the event, the Foundation in association with Colliers International, the Youth Sailing Academy and the Cruising Yacht Club of Australia created a two-day Youth Sailing Program.
Aiming to build the confidence of 12 disadvantaged young people and empower them to rebuild their lives, the young people are being assisted by four of the Foundation’s charity partners including Wesley Mission, CatholicCare, Marist180 and Weave Youth &amp; Community Services.
Property Industry Foundation CEO Rosemary Smithson said she was proud of the incredible support response from across the property industry.
“What this shows is that our donors in the property industry are committed to raising funds to rebuild the lives of at-risk and homeless young people,” she said.
Smithson thanked Colliers International as the Principal Sponsor for being such a strong advocate for the Foundation, the Regatta and the Youth Sailing Program.
“The support from Colliers International shows real leadership in corporate philanthropy. By doing that, they are encouraging other corporations to make a difference to the community,” she concluded. 
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Property industry commitment to young homeless people shines in charity regatta

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Developer Beulah International and design practice Fender Katsalidis Architects have joined forces to deliver an apartment project in Melbourne’s inner north east, known as Hallmark Ivanhoe.
Ranging in price from $420,000 to $1.5 million, the Hallmark Ivanhoe building is comprised of 35 apartments over five levels. Residents will have the choice of one, two, three and four bedroom apartments, with each offering treetop views and private outdoor terraces.
Interiors feature a neutral colour palette throughout, from reconstituted stone and natural stone to light and dark joinery, which are then complemented with bronze fixtures and finishes.
Nicky Drobis, director of design at Fender Katsalidis, commented that the key inspiration for Hallmark Ivanhoe stems from the diverse architectural history of Ivanhoe, including modernist architecture and the sophistication of art deco architecture.
“Hallmark Ivanhoe is a very elegant and simple building; it takes cues from the strength and sense of presence from modernist architecture in its simplicity and form, but also from the lightness and sophistication of art deco architecture within Ivanhoe,” she said.
“Throughout every era new architecture has been brought into Ivanhoe that’s been relevant and contemporary of its time, so we were really hoping to do the same thing with this building, Hallmark Ivanhoe,” she said.
<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/HallmarkIvanhoe_Interior.jpg" alt="">
Drobis added the culture of Ivanhoe is still very similar to when she lived in the suburb growing up. 
“Ivanhoe is quite unique and special in that it’s a remarkably green space, it’s well located, it’s only 10kms from the city, but as a postcode and as a neighbourhood, it has everything you need.” 
<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/HallmarkIvanhoe_Bathroom.jpg" alt="">
Kitchens have been designed in collaboration with renowned chef Adam D’Sylva and feature premium Gaggenau appliances, which are complemented and encased by natural stone and luxurious timber finishes.
Beulah International executive director Adelene Teh said Hallmark Ivanhoe will be suited to local downsizers who value great design.
“A key component of our vision is to add character and depth to the local communities in which we develop, ensuring strong emphasis is always placed on embracing the cultural nuances and history that makes each suburb or project unique.
“Residents within Hallmark Ivanhoe may be looking to downsize in size, but step up in terms of design, quality and lifestyle offerings,” she concluded. 
 To register your interest, please visit <a href="https://www.hallmarkivanhoe.com.au/" target="_blank">www.hallmarkivanhoe.com.au</a>.
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Beulah International and Fender Katsalidis Architects launches luxury residences in Melbourne’s Ivanhoe

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Australia needs supply not demand focused solutions to address our national affordability challenges, said the Housing Industry Association.
“Attempts to remove demand for new housing will reduce supply, affordability and jobs,” said HIA’s Deputy Managing Director, Graham Wolfe.
“While several measures announced today by Labor to address Australia’s housing affordability challenges provide a sensible approach to increasing supply of new homes, others targeting demand will have an adverse impact on affordability now and into the future,” said Mr Wolfe.
“We can’t address housing affordability nationally with both eyes solely on Sydney and Melbourne,” said Mr Wolfe.
“Sydney house price increases have been driven by many factors, including significant population growth, a ten-year supply recession, low interest rates and the impact of extremely high stamp duty costs on sales in the established housing market.”
The dynamics in Perth, Adelaide, Northern Queensland and Darwin are very different.
Foreign investors and self-managed superannuation fund investors cannot be blamed for the recent fall in house prices in Perth and Darwin, or the slower level of new housing activity in Adelaide.
Inflicting demand side measures on these capital cities ignores the significant negative impact on housing supply, jobs and economic growth in these economies.
Right now, if foreign capital investment in Australia helped bring significant residential development projects to commencement in Perth, creating jobs and production, the Western Australian economy would be much better for it.
Australia needs a credible land planning body to provide national monitoring and forecasting of future land release and housing requirements.
The body would help to inform government policy on financing, infrastructure and demographics.
Other policies to address housing affordability must include a reduction in the imbedded taxation on new housing, government funding to support infrastructure and reforms to address unnecessary planning delays in bringing new residential developments to market.
Our national housing affordability challenge is complex, and necessitates a national ‘cost of housing’ inquiry to identify impediments to the supply of new housing.
Such an inquiry would bring together the overlapping impact of regulations, taxes and barriers imposed by all three levels of government, and importantly, inform governments in developing cohesive, integrated and responsible housing reforms, measures and programs,” concluded Mr Wolfe.
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The answer to our housing affordability challenge is housing supply: HIA

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According to the ABS, consumer inflation in Australia has risen by 63% since 1998, according to Gareth Aird, an economist for CBA.
Over that same period, national dwelling prices have lifted by ~300% (chart 1).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%201.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/2017/04/20/Chart%201.jpg" alt="">
Looking at the more recent past, dwelling prices have lifted by 44% since QI 2013 while headline inflation has only risen by 8% (chart 2).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%202.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/2017/04/20/Chart%202.jpg" alt="">
For all intents and purposes, dwelling prices are excluded from the CPI.
In a technical sense, “new dwelling purchase by owner-occupiers” is included.
But this is simply the cost of new homes excluding land (i.e. it is basically a residential construction cost index).
In reality it’s not a representative measure of dwelling prices because it doesn’t take into account the primary driver of changes in the price of a dwelling – which is of course the price of land.
Growth in the new homes ex-land component of the CPI bears no resemblance to changes in dwelling prices (chart 3).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%203.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/2017/04/20/Chart%203.jpg" alt="">
And yet this component of the CPI is worth a non-trivial 8.7% of the total basket.
According to the ABS, land prices are excluded from the CPI because they don’t fit the definition of a consumption good.
The ABS states that, “the CPI only includes goods and services that are purchased by households for consumption.
A consumption good or service is one from which households directly derive utility or satisfaction.
Any business–related purchases by households are excluded from the basket, as are those items that have a significant savings or investment component, such as land and capital goods.”
Here one could reasonably argue that purchasing a home to live in has aspects of both investment and consumption as utility and satisfaction are derived from home ownership.
We continue: the ABS also states that, “the principal purpose of the CPI has been to measure inflation faced by households to support the operation of macroeconomic policy decision making.”
Our emphasis is on “inflation faced by households” because clearly based on the exclusion of land prices in the CPI the ABS does not consider dwelling price rises to be “inflation faced by households”.
That is true for households who own a home.
But for aspiring home owners dwelling prices are part of the inflation that they face.
Their exclusion from the CPI therefore makes it an inaccurate measure of the type of living costs that they face.
The RBA supports the exclusion of land prices in the CPI and according to the central bank, “the purchase of existing housing represents a transfer within the household sector (which means that there is zero net expenditure by the household sector in these transactions)”.
Very true. But then rent is also effectively a transfer within the household sector from tenant to landlord and rent is included in the CPI.
Land is not the only component of the cost of home ownership that is excluded from the CPI.
Mortgage interest payments are also not in the consumer basket (they were included prior to 1998).
And there is no estimate of imputed rent (i.e. owner-occupiers are effectively renting properties from themselves).
This simply leaves “rent” as being the main component of the CPI that picks up changes in the cost of having a roof over one’s head, notwithstanding the ‘residential construction cost index’ component.
This would be fine if households were completely indifferent between renting and purchasing a home (i.e. if they were perfect substitutes).
But this is simply not the case.
Here we want to point out that we are not arguing for the inclusion of dwelling prices in the CPI.
Rather, we are questioning the basis for their exclusion given nothing in the CPI as it currently stands fairly picks up changes in the cost of purchasing a dwelling to live in.
For illustrative purposes, it’s very easy to construct a CPI that includes changes in dwelling prices.
Here we construct a modified CPI (called CPIH) whereby dwelling prices account for 10% of the basket – roughly equivalent in size to the “new dwelling purchase by owner-occupiers” component of the CPI.
We use the ABS residential price index as the measure of changes in dwelling prices to construct our new CPIH. The results are telling, but unsurprising.
The inclusion of dwelling prices in CPIH, even just accounting for 10% of the basket, pushes up the annual change significantly since 1998.
The annual change in CPIH is, on average, 55bps higher than the annual change in CPI (chart 4).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%204.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/2017/04/20/Chart%204.jpg" alt="">
The point of this exercise is to highlight how the exclusion of dwelling prices from the CPI has masked the uplift in the cost of living for households who don’t own a dwelling but aspire to purchase one.
For them, the cost of living has risen by more than is implied by the CPI. This is, to an extent, very much a question of generational equity.
Real wages growth has generally been positive over the past five years despite falling nominal wages growth as CPI inflation has been trending down (chart 5).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%205.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/2017/04/20/Chart%205.jpg" alt="">
But if we deflate nominal wages growth by a measure of inflation that includes dwelling prices (i.e. CPIH) the picture looks quite different (chart 6).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%206.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/2017/04/20/Chart%206.jpg" alt="">
Deflating wages growth by CPIH more accurately captures real wage changes for those who aspire to own a home.
These individuals (or households) are generally below 35.
To put it another way, younger people, who are less likely to own a dwelling, have faced a greater deterioration in real wages than is implied by deflating nominal wages by the CPI.
This is because the single biggest purchase they are yet to make is not included in the CPI. And it has, of course, been rising much, much quicker than the CPI itself.
There is a monetary policy, inflation and dwelling price nexus.
The RBA’s mandate is to maintain price stability, full employment and the economic prosperity and welfare of the Australian people.
To achieve this, the Bank has an ‘inflation target’ and seeks to keep consumer price inflation in the economy, as measured by the CPI, in the 2–3% range on average, over the medium term.
Interest rates have needed to be on a long-run downward trend for the RBA to meet its inflation target as the neutral rate has fallen (charts 7 and 8).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%207.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/2017/04/20/Chart%207.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%208.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/2017/04/20/Chart%208.jpg" alt="">
Throughout that period, Australia’s stock of debt has risen as a share of income, mainly driven by the household sector (chart 9).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%209.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/2017/04/20/Chart%209.jpg" alt="">
Most of that debt has been going into bricks and mortar and dwelling prices have therefore risen faster than income.
But as discussed above, none of this has been captured in the CPI.
Back in 1997, the RBA argued against the inclusion of land in the CPI in its submission to the 13th Series CPI review.
And they also argued against including a mortgage interest component in the CPI because, “the interest charges as measured tend to distort the signal offered by the CPI of inflationary trends, by incorporating the policy responses to those trends.”
In other words, if the RBA cut (increased) rates then interest charges would fall (rise) thereby having the opposite intended impact by pushing down (up) on CPI inflation.
But including dwelling prices in the CPI would assist the RBA in hitting its inflation target.
Lowering (raising) interest rates has an immediate positive (negative) impact on the price of the very thing not included in the CPI – dwelling prices.
The hangover in Australia from pushing interest rates lower over an extended period of time to hit an inflation target has been a huge accumulation of debt and very high dwelling prices.
A raft of other policy decisions have also played their part.
The interest rate lever has helped to smooth out the business cycle.
But as we sit close to the lower bound in rates, and with debt a share of income at a record high, it seems futile to chase inflation any lower via more monetary policy stimulus unless the housing market falters and the appetite for additional debt cools.
A suite of policy reforms could help here.
When Governor Lowe appeared before the House of Representatives Standing Committee on Economics in late February he stated that, “the main effect (of another rate cut) would be more borrowing for housing, pushing up housing prices.” Touché!
</body></html>

What if dwelling prices were included in the CPI?: Gareth Aird

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

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.

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]

Staff reporter

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