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Brisbane, Darwin and Perth were the capital cities to record a median house price falls over the March quarter, according to Domain.
Brisbane house prices have recorded the largest quarterly drop since September 2011.
The latest data from Domain’s State of the Market Report calculated a fall of 1.4 per cent for houses.
Annual growth is still positive, at 3.4 per cent, the slowest growth rate recorded in Brisbane since 2013.
Unit prices fell 3.8 per cent to $376,000, the biggest drop since 2000.
Domain Group chief economist Andrew Wilson told Domain Brisbane always starts the year in "snooze mode" and it builds strength through the year
But Dr Wilson forecast units in Brisbane were continuing their downward slide and would potentially flatten out after 12 months.
Perth’s median house price has had its lowest rate of annual decline in around two years.
Figures for the March quarter have revealed Perth house prices fell 1.8 per cent to $561,000, reflecting a 3 per cent annual decrease in median price.
Perth unit prices were down 5.1% annually, to $368,000.
Darwin unit prices fell by 16.1% to $395,473 for the quarter, reflecting 18% for the year. House prices were however up in Darwin by 2.9% during the quarter, but are down by 3.3% annually.
In Melbourne apartment prices are soaring, with the price growth in the first three months of the year surging 4.6 percent.
 
 
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j.ballantyne1990-6AQqhLzZaK

Brisbane median unit price falls 3.8 per cent: Domain

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Marama, the Brighton mansion that passed in on a vendor bid at weekend auction despite heavy discounting, has now been sold.
It went for more than $6 million on the following Monday night.
Biggin and Scott’s Trudy Biggin, in conjunction with Castran Gilbert, sold the circa 1880s house.
The <a href="https://www.realestate.com.au/sold/property-house-vic-brighton-125013006">Church Street</a> trophy home sold to a young family with three children for an undisclosed sum.
<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/2017/04/20/161%20Church%20Street-2.jpg" alt="">
Set on around 1300 square metres, Marama failed to sell with its original $7 million price tag late last year.
The vendors lowered their reserve to $6.4 million during the latest marketing.
The five-bedroom property passed in on a vendor bid of $5.8 million.
Biggin told the local paper said the family had been looking at the property “on and off” since last year, and was present at the auction.
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Brighton's Marama trophy home sold

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Residential vacancy rates have fallen across the Sydney market led by solid falls in availability in Middle Sydney, according to the Real Estate Institute of New South Wales (REINSW).
REINSW President John Cunningham said the March 2017 REINSW Vacancy Rate Survey saw the Sydney metropolitan market down 0.2% at 1.7%.
"Middle Sydney led the fall in rental accommodation on offer with a 0.4% decline at 1.4%," Cunningham said.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%2012.38.36%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/2017/04/18/Screen%20Shot%202017-04-18%20at%2012.38.36%20pm.jpg" alt="">
"Outer Sydney fell 0.1% at 2.1% and Inner Sydney was down 0.1% at 1.6%."
The Hunter also saw a drop of 0.1% at 2.0% with a 0.7% correction in Newcastle at 2.0%.
In the Illawarra, vacancy rates rose 0.4% at 1.5% with Wollongong adding 0.1% to 1.2%.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%2012.39.06%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/2017/04/18/Screen%20Shot%202017-04-18%20at%2012.39.06%20pm.jpg" alt="">
Across regional areas, the Northern Rivers has the lowest vacancy rate at 1.0%, down 0.1%, the South Coast dropped 0.7% at 1.4% and Albury was down 1.0 at 2.2%.
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Sydney rental market continues to tighten: REINSW

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Villa World has sold out the 81-lot land-only Riva development on Brisbane’s northside just over two years since its launch.
Villa World development manager Gary Hunter said the Joyner development benefited from a flurry of first home buyer activity as buyers looked to lock in the boosted first-home buyers grant before its expiry at the end of June.
“Riva’s success is attributed to the fact that the development has provided the market with a quality product with a modest price tag,” Hunter said.
Villa World launched the development at the end of 2015 targeting local second and third homebuyers looking to upgrade, but Hunter said the government grant had helped Riva attract a broader demographic in the past year.
Villa World recently released the second stage of Haven on Greens, further south at Griffin.
Haven on Greens comprises 66 architect-designed homes with a select range of larger home sites available.
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Villa World's Riva land development in Joyner sells out 

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A 1963 original Seaforth house is set to go under the hammer.
The <a href="https://www.realestate.com.au/property-house-nsw-seaforth-125102934" target="_blank">20 Richmond Road</a> property has a three bedrooms and a front garden with swimming pool that leads from the rumpus room with built-in bar.
There is also a lounge room with access to the front terrace and private garden.
The kitchen leads to the dining room and has views of the Middle Harbour.
Guildea Residential agents Jason Guildea and Jenny Lorello said there is potential to add a second storey, extend or even rebuild.
The auction is scheduled for 22 April.
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1960s Seaforth gem listed for auction

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Interest-only loans account for a sizeable number of total housing credit, according to the RBA’s latest Financial Stability Review 2017.
Interest-only (IO) loans account for a sizeable and growing share of total housing credit in Australia, now representing around 23 per cent of owner-occupier lending and 64 per cent of investor lending (Graph B1)
<a href="https://www.propertyobserver.com.au/images/2017/04/19/Graph%20B1.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/2017/04/19/Graph%20B1.jpg" alt="">
IO lending has the potential to increase households’ vulnerability in part due to the higher average level of indebtedness over the life of an IO loan compared with a regular principal-and-interest (P&amp;I) loan.
Measures to address some risks associated with IO lending practices were among those taken in late 2014 by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), in conjunction with the Council of Financial Regulators, to reinforce sound housing lending practices.
While the share of IO loans in total lending approvals subsequently declined, IO loans have since started to rise again, especially for investors, which has again attracted regulator attention.
In March 2017, APRA announced new measures requiring authorised deposit-taking institutions (ADIs) to limit new IO lending to 30 per cent of total new residential mortgage lending and, within that, to tightly manage new IO loans extended at high loan-to-valuation ratios (LVRs).
This box outlines in more detail recent trends in IO lending and the nature of the potential risks that can arise from this type of lending.
For P&amp;I loans, the balance of the loan must be paid down over the entire term of the loan. In contrast, for IO loans repayments of principal are not required during the IO period, which is typically the first five to ten years of the loan.
Instead, scheduled principal repayments start at the end of the IO period, with the balance of the loan then paid off over the residual loan term.
As a consequence, for a typical 30-year P&amp;I loan of $400 000 with an interest rate of 4 per cent, borrowers would be ahead on principal repayments by around $38 000, or about 10 per cent of the initial balance, after five years compared with an IO loan (Graph B2).
<a href="https://www.propertyobserver.com.au/images/2017/04/19/Graph%20B2.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/2017/04/19/Graph%20B2.jpg" width="700" height="425">
Further, because the scheduled balance on an IO loan is always higher than on a comparable P&amp;I loan, IO loans incur a greater interest cost over the term of the loan (around 9 per cent extra in the previous example).
An IO loan can potentially also be refinanced at the end of the IO period into another IO loan, prolonging the period before scheduled principal repayments start.
Both investors and owner-occupier borrowers make extensive use of IO lending for a range of reasons.
Housing investors make the most use of IO loans.
Since interest payments on investment loans are tax deductible, the incentive to pay down a loan’s principal is reduced.
IO loans also enable investors to maintain a higher level of leverage and so magnify potential gains or losses if housing prices rise or fall.
As noted earlier, the share of owner-occupier lending that is IO has also risen noticeably over time.
This has been due to increasing numbers of owner-occupiers using IO loans and the increasing average sizes of IO loans (relative to P&amp;I loans).
Another reason borrowers may prefer IO loans to P&amp;I loans is because they can offer greater repayment flexibility.
Borrowers with lumpy income or those wanting to build buffers or save for planned expenditures, such as renovations, can use IO loans with an offset or redraw facility to minimise the effective interest costs over the period of the loan while still ensuring funds are readily available for other uses.
In particular, offset accounts and redraw facilities allow borrowers to effectively amortise loan balances during the IO period and so reduce (or eliminate) the extra interest cost associated with the higher principal balance on IO loans compared with P&amp;I loans.
However, borrowers need to be disciplined in their repayment behaviour to receive these benefits; otherwise they may incur greater interest costs, and remain more indebted for longer.
IO loans are also routinely used for bridging finance and construction loans to minimise repayments for the short duration of these loans.
For some time regulators have highlighted the potential risks associated with IO compared with P&amp;I loans.
Because IO loans allow borrowers to remain more indebted for longer, there may be greater credit risks associated with such loans.
When loan balances stay high, there is an increased risk of borrowers falling into negative equity should housing prices decline.
Another risk is that borrowers may find it difficult to service higher required payments at the end of the IO period, which increases the chance of default.
For example, repayments on a $400 000 loan with a 4 per cent interest rate and a five-year IO period would typically increase by around 60 per cent at the end of the IO period.
While some borrowers may have planned to refinance into another IO loan at the end of the IO period, this may be difficult if circumstances have changed.
Borrowers who anticipate future price rises can use IO loans to maintain a higher level of leverage for a given servicing payment, thereby magnifying their returns from rising housing prices but also magnifying any losses.
More generally, at an aggregate level this behaviour could induce a more pronounced cycle in housing prices than would otherwise occur, amplifying the size of any subsequent downswing in housing prices.
In recognition of the higher risks associated with IO loans, some lenders have introduced premiums on advertised interest rates for IO loans.
For example, the four major banks have announced, on average, an 18 basis point premium for IO owner-occupier loans and a 15 basis point premium for IO investor loans (in addition to premiums for investor loans relative to owner-occupier loans).
Lenders’ practices in assessing the ability of borrowers to repay their loans are important to manage the systemic risks posed by IO lending.
These practices determine the maximum loan size that a borrower could sustainably repay out of their income.
In particular, APRA serviceability guidance for ADIs sets out prudent practices for IO loans, with the capacity to repay assessed at the higher repayment amount required when the IO period ends (known as the residual-term method).
Under this residual-term method, borrowers seeking IO loans receive a lower maximum loan size than would be available for an equivalent P&amp;I loan.
Nonetheless, prior to the 2014 measures, some lenders assessed serviceability based on lower hypothetical P&amp;I repayments calculated from the entire term of IO loans (including the IO period; known as the full-term method).
This approach risks borrowers being unable to meet their repayment obligations when the IO period ends and higher repayments commence.
This is potentially in breach of the National Consumer Credit Protection Act 2009, which requires that lenders make loans that consumers will be able to repay without undue hardship.
ASIC has found that around 40 per cent of loans reviewed in 2014 used the full-term approach; lenders have since undertaken to change their practices in order to meet their responsible lending obligations and APRA’s guidance.
There have also been some recent reports of borrowers applying for P&amp;I loans to maximise their borrowing capacity, and then switching soon after approval to an IO loan. APRA has recently issued guidance to address this behaviour.
Find the RBA's latest Financial Stability Review 2017 <a href="https://www.rba.gov.au" target="_blank">here</a>.
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Interest-only loans account for a sizeable housing credit portion: RBA

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A luxury top-floor penthouse has surged past property price records in the Sydney suburbs of Green Square, Zetland and Waterloo this month when it sold for $3,598,650.  According to RP Data records, the highest price for a residential apartment situated in Zetland, Green Square and Waterloo was previously held by a three-bedroom penthouse at 8 Sam Sing Waterloo.
Located in the Infinity by Crown Group development, the three-bedroom apartment represents the final sale at the 401-apartment development, which is now officially sold out.  Crown Group recorded $380 million dollars in sales in one day when it first launched the project in 2015.
<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/2017/04/19/Infinity2.jpg" alt="" width="416" height="286">
The 20-storey building will feature an infinity-edge pool, spa, gym, music room, media theatre, a roof-top terrace, 30 retail outlets, restaurants and cafés; plus a conference centre to hold 450 people. Crown Group global head of sales and marketing, Julian Sedgwick, remarked that the penthouse allowed buyers to own a prestigious home in the city’s next architectural centrepiece.
“The penthouses at Infinity by Crown Group represented a chance for buyers to secure a top-tier, luxury retreat with stunning views of Sydney’s CBD,” he said. “This is a sign of strength within Sydney’s prestige property bastions.”
The 150sqm three-bedroom penthouse features custom-made, floor-to-ceiling glass windows and a spectacular rooftop terrace with panoramic views of Sydney’s CBD.
Boasting bright, naturally-lit living spaces and lavish interior finishes, the luxury penthouse included technology geared for entertainment such as multimedia touch-controlled home automation systems.
“This penthouse at Infinity by Crown Group will be arguably Green Square’s most outstanding apartment showcasing all the benefits of luxury living in Sydney,” added Crown Group sales and marketing director, Roy Marcellus.
“This record-breaking sale reflects customers’ awareness of the premium quality and exclusivity of Crown Group’s apartments. The sale of this penthouses is proof that Sydney’s luxury market is alive and well,” he said.
Additionally, Crown Group has now sold all four level-27 penthouse apartments in its $250-million Arc by Crown Group, which is under-construction in Sydney’s CBD. The $575-million development is located on the corner of Bourke Street and Botany Road and scheduled for completion in 2019.
The next project in the works is the recently Waterfall by Crown Group, located less than 1km from the now sold-out Green Square development, will be launched for sale in June this year.
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Green Square Infinity penthouse smashes suburb price record 

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An opportunity to acquire a piece of the Mornington Peninsula at Moorooduc is now available with low $3 million expectations.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-moorooduc-502351422" target="_blank">895 Moorooduc Highway</a> offering has a land size of 15 hectares with Green Wedge zoning on the corner of the Mornington-Tyabb Road. 
The Melbourne CBD is an hour’s drive away accessible via the Peninsula Link Freeway.
The listing comes after the recent sale of the <a href="https://www.realestate.com.au/sold/property-acreage+semi-rural-vic-moorooduc-122278674" target="_blank">Barmah Park Vineyard Cafe holding</a>, with the four hectare holding listed with $2.35 million hopes.
Existing improvements on the 15 ha land comprise a brick veneer dwelling along with sheds, water tanks and extensive fencing.
It is set among the Barak Estate Winery, Mornington Yatch Club and Racecourse, Bentons Square Shopping Centre and the main street Mornington retail area.
Expressions of interest close May 3 through CBRE agent Nathan Mufale.
He said 895 Moorooduc Highway is benefiting from the recently completed Peninsula Link Freeway, an untolled 27km arterial route.
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15 ha Moorooduc landholding listed after nearby Barmah Park Vineyard Cafe sale

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After 40 years based in Melbourne’s inner suburbs, design firm SJB has relocated to the city, leasing 860sqm across two fully self-contained floors at 18 Oliver Lane.
Colliers International’s Milly Stockdale negotiated the six-year deal on behalf of Marks Henderson. The gross asking rent is believed to be in the vicinity of $600 per sqm.
“This heritage building in this famous CBD laneway is of huge architectural significance, being the first conventional building in Australia constructed wholly of reinforced concrete,” she said.
“It benefits from a superior location, surrounded by the best retail amenity.”
<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/2017/04/19/18%20Oliver%20Lane%20Melbourne%202.jpg" alt="">
Ms Stockdale said SJB was attracted to the exceptional natural light from both Oliver and Higson Lanes and the historical and unconventional nature of the property.
Director of SJB Architects, Michael Bialek, said the company was keen to support the City of Melbourne’s strategy of retaining the unique aspects of CBD laneways through activation and diversity.
“This move for SJB heralds a cultural shift within our firm in response to the needs of our clients and team members,” he 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/2017/04/19/18%20Oliver%20Lane%20Melbourne%203.jpg" alt="">
18 Oliver Lane is 100 per cent leased, which Ms Stockdale said was a testament to the high demand for “edgy” laneway space in the CBD.
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SJB moves to city after four decades of suburban business

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An architect-designed house on a 33 hectare holding in Tinbeerwah has been listed with $5 million plus hopes.
The <a href="https://www.realestate.com.au/property-house-qld-tinbeerwah-124005666" target="_blank">property</a> is in close proximity to the Noosa coastal region.
It is designed to accommodate family and guests in separate wings while a main bedroom suite is situated atop a study and reflection pond.
<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/2017/03/23/Tinbeerwah-2.jpg" alt="">
There is also a 15 metre infinity lap pool with views.
A abundance of rainwater storage is available as well as three dams and bores as well as a solar bank collection.
Other features include machinery shed.
The property is offered through Laguna Real Estate agents Melanie Butcher and Anne Powell
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Tinbeerwah architect-designed house listed with $5 million plus hopes

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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