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Adelaide units are a $1000 cheaper compared to Hobart, according to CoreLogic’s latest report.
The property data firm says that Adelaide units average at $323,000 compared to Hobart’s $324,000 in private treaty sales. 
<a href="https://www.propertyobserver.com.au/images/2017/04/03/Screen%20Shot%202017-04-03%20at%2010.56.14%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/03/Screen%20Shot%202017-04-03%20at%2010.56.14%20am.jpg" alt="">
However Hobart is the cheapest place to purchase a house with a median price of $366,000.
Sydney remains the most expensive place to purchase a property with houses averaging at $950,000 and units at $738,000.
A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-sa-adelaide-123680194" target="_blank">901/102 – 105 North Terrace</a>, Adelaide (above) has been listed for $310,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-sa-adelaide-124807334" target="_blank">601/235 Pirie Street</a>, Adelaide (below) has been listed for $300,000.
<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/2017/04/03/601_235%20Pirie%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Units in Adelaide $1000 cheaper than units in Hobart: CoreLogic

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Canberra and Sydney have the quickest sale time for a house to be sold across the nation, according to CoreLogic’s latest report.
The property data firm says that on average it takes 26 days for a house in Canberra and Sydney to be sold.
However it takes Sydney units 25 days to sold compared to Canberra’s 36 days on the market.
<a href="https://www.propertyobserver.com.au/images/2017/04/03/Screen%20Shot%202017-04-03%20at%2010.56.22%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/03/Screen%20Shot%202017-04-03%20at%2010.56.22%20am.jpg" alt="">
Perth and Darwin has the longest waiting time for a property to be sold with an average waiting time of 2 – 3 months.
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Canberra, Sydney houses flying out the door in just 26 days: CoreLogic

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<img src="https://counter.theconversation.edu.au/content/74925/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The b-word is doing the rounds, barely a decade after the United States house price bubble burst spectacularly, setting in motion a global financial crisis. As Australian real estate prices continue to break records, many wonder whether this is sustainable. 
Economists disagree on how to define a bubble, or even whether bubbles exist. Intuitively, a bubble (and this applies to any asset, not just real estate) exists when the price of an asset is over-inflated relative to some benchmark. And here’s the rub: no one can agree on what that benchmark should be.
The benchmark could be an estimate of the asset’s value based on a collection of variables that plausibly affect its supply, demand and price, so-called fundamentals. For houses, these fundamentals include population growth, tax policy, household size, household income, and many others. 
But economists cannot agree on what fundamentals determine an asset price, or how important each fundamental is. As well, the value of these fundamentals can only be estimated, not observed. It’s subjective to the point that someone will always be able to concoct a story based on fundamentals to rationalise why house prices are at the level they are.
Some economists propose alternative benchmarks to measure a bubble, such as historical long-run averages or an estimate of the underlying value of a trend. If asset prices are greater than these averages or the trend, then we have a bubble. However, this definition is too simplistic because the economy is dynamic, ever evolving, and both long-run averages, as well as trends, do change.
Price hikes and bubbles
It’s only when asset prices reach outrageous heights that a majority of people, economists included, agree that it is overpriced and due for a major correction (a bubble burst). Even then some economists will deny the existence of a bubble. 
One of the earliest examples of an asset price bubble was the frenzy in the market for Dutch tulip bulbs in the seventeenth century — the so-called “Tulipmania”. Although the data is patchy and many historians have not exercised great care in retelling the story, there’s little else to explain how prices for Witte Croonen bulbs rose 26-fold in January 1637 and fell to one-twentieth of their peak value in the first week of February.
Yet, well-respected scholar Peter Garber argued that:
"The wonderful tales from the tulipmania are catnip irresistible to those with a taste for crying bubble, even when the stories are so obviously untrue. So perfect are they for didactic use that financial moralizers will always find a ready market for them in a world filled with investors ever fearful of financial Armageddon."
Assuming bubbles are a significant gap between the observed asset price and some appropriate benchmark value, the mere existence of this gap begs the question of how it came about. The answers mostly rely on psychology, which is why many economists (looking to represent the world in a mathematical model) struggle with the concept.
Bubble frenzy
Bubbles are ultimately a confidence game, in which the vendor sells the asset to a buyer at a profit, with the latter hoping to do the same in the future. This game relies on a powerful narrative that captures people’s imagination and persuades them their turn will be different. 
As George Soros, the famous US-Hungarian multi-billionaire hedge fund manager once remarked:
"Bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception."
This misconception is the consequence of human behaviour and traits that depart from the fully rational paradigm so often assumed in formal economics. Instead, as behavioural economists argue, people exhibit a number of biases.
These include, for example, the desire to find information that agrees with their existing beliefs (called confirmation bias) or the tendency to form decisions based on the most readily available information (called availability bias). People experience and seek to resolve their discomfort when they have two or more contradictory beliefs, ideas, or values and they also employ simple abstractions in thinking about complex problems and events (framing).
People are poor intuitive statisticians and care more about avoiding losses than about experiencing gains (called loss aversion). The list of flaws in human behaviour goes on. Moreover, humans, social animals that we are, compete with and emulate our peers, herd like sheep and act on rumours. 
Occasionally, all these traits and biases re-enforce each other and send the prices of houses, or shares or whatever, into the stratosphere.
Who’s afraid of a bubble?
The bubble itself is rarely a major cause for concern, although young Australian households looking to purchase their first home will disagree. The problem, of course, is that every bubble eventually pops and this correction is typically violent and painful, for two reasons. 
First, asset prices often fall faster than they rise, so the downward correction can destroy value in a very short space of time. And second, most bubbles are fuelled by debt, because the only way a bubble can expand in the later stages is if the demand for the asset is bolstered by debt.
This combination – high debt and falling asset prices – generates a vicious cycle in which distressed debtors scramble to repair their balance sheets and sell their asset. This in turn pushes the price of that asset even lower, causing further distress to similar owners of the asset, and so on.
The pain associated with a bursting bubble varies considerably. Sometimes economies rebound rather quickly from a burst bubble, as was the case after the breath-taking collapse of the dotcom bubble. 
However, housing bubbles are in a league of their own. Historically, they have always led to severe recessions, and there is no reason to believe this should change. The next time is not different.
The answers on how to deal with a bubble range from “nothing” to “whatever it takes”. The problem is that no-one (policy makers included) can reliably identify a bubble. 
If there is such a thing as a bubble, we will only know for sure when the bubble is already popping. Acting early to prevent a bubble expanding further is risky and unpopular. It’s a brave central banker who raises interest rates in anticipation of an increase in asset prices when the rest of the economy is humming along just fine, or even showing signs of weakness.
So, is Australia in the midst of a housing bubble? I will go out on a limb and answer in the affirmative. There are plenty of arguments why current house prices are exactly where they should be, based on the fundamentals.
But in my opinion these explanations do not pass the smell test: double digit increases in house prices, combined with unprecedentedly high household debt (more than 120 percent of GDP, the third highest in the world) and household debt servicing ratios (also the third highest in the world), make for a precarious situation. All it takes is a modest change in investor sentiment, a few interest rate hikes, or a noticeable increase in unemployment, and the whole scheme unravels. I hope I’m wrong, but history is on my side.
Timo Henckel is research associate, Centre for Applied Macroeconomic Analysis, Australian National University and author for The Conversation.
He can be contacted <a href="https://theconversation.com/profiles/timo-henckel-990" target="_blank">here.</a>
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Are record-breaking real estate prices sustainable?

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A building in Sydney awaiting development approval has been temporarily donated by the TOGA property group to address youth homelessness.
TOGA, in partnership with joint owner Qualitas, announced the former Addison Hotel in Kensington had transformed into pop-up accommodation for vulnerable youth.
After making available the vacant building revenue-free, it is set to house more than 42 vulnerable youth. 
TOGA has made available the former hotel to My Foundations Youth Housing for a minimum of 12 months. 
The Addison Hotel forms part of a mixed-use development proposal lodged for the site at 147 Anzac Parade and adjoining property.
The Addison Project will be operated by community housing provider My Foundations Youth Housing.
TOGA Group of Companies managing director Allan Vidor said that constructive partnerships between the private and public sectors, and sensible planning reform, had the power to address the housing challenges facing vulnerable young people in Sydney. 
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From left to right: Brendan O’Sullivan; Qualitas Executive Director – Principal Investments, Assoc. Professor David McKenzie; My Foundations Youth Housing Chair, the Hon. Pru Goward; Minister for Family and Community Services, Mark Fischer; Qualitas Managing Director – Principal Investments and Allan Vidor, Managing Director of the TOGA Group of Companies
“By making available our building we hope to make a difference in the lives of those who stay at The Addison Project as well as inspire other property owners to consider utilising their vacant assets,” said Mr Vidor.
“Together, the private and public sectors must work toward meaningful planning reform which has the potential to unlock many opportunities to make empty buildings across Sydney immediately available to those who are experiencing, or at risk of, homelessness.
No single level of government or service can tackle youth homelessness – innovative solutions must be borne from innovative collaborations between public and private sectors, Mr Vidor added.
<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/2017/04/03/170123_TL_AddisonHotel_0054.jpg" alt="">
The former hotel contains 42 fully-furnished rooms, each with a bathroom and kitchenette, set across three-storeys; creating an appropriate short-term accommodation option for youth.
My Foundations Youth Housing Chair, Assoc. Professor David McKenzie said The Addison Project would provide both crisis accommodation for those at risk of homelessness and young people with a safe space to live and study while they work to secure more permanent solutions and stabilise their circumstances.
<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/2017/04/03/170331_AddisonProject_0187.jpg" alt="">
“The Addison Project is an excellent example of seizing an opportunity to provide a bold and innovative solution.
"Whilst not intended as a solution to homelessness, it is a positive step in the right direction while we work towards addressing the provision of housing in a practical and immediate way,” Mr McKenzie said.
The Addison Project will target youth at risk of homelessness aged between 16 and 24; with young people holding less than 2 per cent of the 140,000 Social Housing tenancies across NSW.
Family and Community Services (FACS) will refer up to 14 rooms to those in-need of Temporary Accommodation.
The Addison Project also includes an anchoring retail space where OzHarvest will open Australia’s first ever rescued food supermarket – OzHarvest Market – next month.
Ronni Kahn, CEO and Founder of OzHarvest said the Australian first would be a pop-up marketplace providing rescued food sourced from its existing local donor network and available on a ‘take what you need, pay what you can’ basis.
“We are thrilled to be part of this ground-breaking project with TOGA and are excited to be transforming the donated space into Australia’s first rescued food supermarket,” said Ms Kahn.
“The OzHarvest Market will be opening its doors soon, making sure good food does not go to waste and is available to everyone, especially to those who need it most.”
This initiative will be jointly supported by leading innovators in social enterprise Orange Sky Laundry and Thread Together who will contribute by providing vital on-site services.
<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/2017/04/03/170331_AddisonProject_0347.jpg" alt="">
TOGA and Qualitas acquired the site in mid-2015.
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TOGA donates vacant Kensington hotel building to address youth homelessness

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Cremorne, the historic Hamilton Hill home of Fone Zone co-founder David McMahon and wife Tracey failed to sell at its re-arranged auction last week despite the best effort of the agents.
The auction had been brought forward to midday from its scheduled 6.30pm by Place Bulimba agent Sarah Hackett due to the looming aftermath effects of cyclone Debbie hitting the east coast.
Built in the early 1900's by Brisbane publican James O'Connor, the McMahon's were only the third owners of the award winning property with sweeping views of the Brisbane River.
According to the Queensland Heritage register, Cremorne is the only example of the domestic work of renowned Queensland architects Eaton &amp; Bates.
They paid $6,625,000 for the five bedroom home in late 2015.
Four art pieces that have been original to the house were painted in 1899.
The home receieved a heritage-approved pavilion extension by Donovan Hill Architects - now BVN Donovan Hill, in consultation with heritage specialist architect Robert Riddel.
David retired from Fone Zone in 2013, having co-founded the company, now Vita Group in 1995. It is now valued at over $750 million.
David sold the former Ascot home he shared with ex wife Maxine Horne for $8,615,000 to Domino's Pizza head Don Meij last year.
This article first appeared in The Weekend Australian Mansion Australia section.
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Fone Zone's David McMahon fails to sell historic Hamilton Hill home

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A house at McMahons Point was sold for $4.425 million making it Sydney’s most expensive auction sale over the weekend.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-mcmahons+point-124937958" target="_blank">13 Victoria Street</a>, the north facing, freestanding terrace style property has an elevated setting with views of the city and harbour.
It was sold by Colin Morgan, insurer Zurich's former Asia Pacific global life chief executive and his wife Louise.
The final sale price was $625,000 above the $3.8 million reserve after the bidding opened at $3.4 million.
Formal lounge and dining rooms features high ornate ceilings and gas fireplaces.
The casual family space connects to the outdoor area as well as the guest powder room.
<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/2017/04/02/13%20Victoria%20Street-2.jpg" alt="">
Entertainer’s court garden requires low maintenance and has a built-in bench seating and secure parking.
Master retreat includes a spa bath ensuite, dressing room and private balcony.
Gourmet deluxe gas kitchen features stone bench and high-end European appliances.
Local cafes, ferry, bush, train and harbour foreshore parks are just moments away.
The property was offered through Stone McMahons Point agents Annika Bongiorno and Aaron Bongiorno.
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Modern harbourview McMahons Point house sold for $4.425 million

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A charming Leabrook house in the heart of the suburb has been sold for $1.6 million making it Adelaide’s most expensive sale this weekend.
Located at <a href="https://www.realestate.com.au/property-house-sa-leabrook-124944822">3 Godfrey Terrace</a>, the property is surrounded by gardens and features original details. 
The three-bedroom sandstone family house sold at between 10 per cent and 15 per cent above reserve, according to Toop &amp; Toop agent Tim Thredgold.
It sold to a downsizing couple.
There were nine registered bidders for the house with north faces north living area that maximises the sunlight and outdoors via the bi folding glass door.
<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/2017/04/02/3%20Godfrey%20Terrace-2.jpg" alt="">
A swimming pool with underwater lighting is available and is framed by palms and a mature garden.
Offering a flexible floorplan it has two living options and a separate dining area with a gas cooktop.
Other features includes original brick fireplaces, high ceilings, rear lane access, off street parking and double garage.
Marryatville Shopping precinct, Burnside Shopping Centre and public transport are all nearby.
The property was offered through Toop &amp; Toop Real Estate agents Tim Thredgold and Megan Thredgold.
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Charming Leabrook, Adelaide house sold for $1.6 million

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There were 29,833 residential houses and agricultural properties sold throughout regional Victoria over the year 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 is down 11.3 percent when compared to the same period last year, meaning there were 3,373 fewer sales over the year.
The total value of the 29,833 transactions was recorded at $11.3 billion, down 8.8 percent from $12.3 billion from November 2015.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.08%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%201.35.08%20pm.jpg" alt="">
The total number of residential house transactions across regional Victoria accounted for 73.5 percent of all transactions and 67.3 percent of the total value of sales over the year.
Regional Victoria recorded 7,898 agricultural property sales over the past year amounting to $3.7 billion worth of transactions.
This represents a 19.8 percent fall in sales volumes and a 17.5 percent fall in the total value of transactions.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.22%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%201.35.22%20pm.jpg" alt="">
Looking at the land size of the 7,898 agricultural sales, 78.8 percent were on lots less than 40 hectares, 12.2 percent were on lots between 40 and 100 hectares.
Some 8.8 percent were on 100-1,000 hectares and 0.2 percent of the sales were for lots greater than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.35%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%201.35.35%20pm.jpg" alt="">
Of the $3.7 billion in agricultural sales over the year to November 2016, the total value of transactions was spread across various lot sizes with lots on less than 40 hectares accounting for 64.1 percent.
Meanwhile 15.0 percent were on lots ranging from 40 to 100 hectares, 18.5 percent on lots ranging between 100 to 1,000 hectares and 2.4 percent on lots greater than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.48%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%201.35.48%20pm.jpg" alt="">
A mixed farming property at <a href="https://www.realestate.com.au/sold/property-mixed+farming-vic-kyabram+south-7790182" target="_blank">695 Andrews Road</a>, Kyabram South (above) has been sold recently on March for $400,000.
Similarly a rural property at <a href="https://www.realestate.com.au/sold/property-lifestyle-vic-springmount-7878994" target="_blank">75 Davey Road</a>, Springmount (below) was sold recently on March for $575,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/03/75%20Davey%20Road.jpg" alt="">
A rural farm at <a href="https://www.realestate.com.au/property-farmlet-vic-benloch-7887282" target="_blank">923 Burke and Wills Track</a>, Benloch (below) has been listed for $679,000.
<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/2017/04/03/923%20Burke%20and%20Wills%20Track.jpg" alt="">
Similarly a rural farm at <a href="https://www.realestate.com.au/property-farmlet-vic-nar+nar+goon+north-7879694" target="_blank">90 Olsen Road</a>, Nar Nar Goon North (below) has been listed for $595,000 plus.
<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/2017/04/03/90%20Olsen%20Road.jpg" alt="">
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Victorian rural farm sales activity in decline

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Across the regional areas of Tasmania, a total of 6,074 residential house and agricultural properties sold over the year 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 of 3.5 percent, meaning there were 222 fewer sales when compared to one year ago, while the total value of sales fell 4.5 percent to $1.7 billion over the 12 months to November 2016.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.47.33%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%202.47.33%20pm.jpg" alt="">
Agricultural properties accounted for 27.1% of all regional Tasmanian sales and 32.1% of the value of sales.
Regional Tasmania recorded 1,647 agricultural sales over the year, 4.5% fewer than the previous year.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.47.54%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%202.47.54%20pm.jpg" alt="">
Looking at land size, the majority of sales were on less than 40 hectares, with transactions in this category accounting for 93.3% of all agricultural sales.
The remaining sales were split between 40 to 100 hectares (4.3%), 100 to 1,000 hectares (2.4%) and greater than 1,000 hectares (0.1%).
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.48.08%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%202.48.08%20pm.jpg" alt="">
The total value of the 1,647 agricultural sales that transacted over the year to November 2016 was worth $553.9 million, -7.3% lower than over the 12 months to November 2015.
Broken down in to land sizes, 82.4% of the total value of sales was for properties less than 40 hectares, followed by 40 to 100 hectares (9.0%) and 100 to 1,000 hectares (8.5%).
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.48.19%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%202.48.19%20pm.jpg" alt="">
A mixed farming property at <a href="https://www.realestate.com.au/property-mixed+farming-tas-bracknell-7886046" target="_blank">294 Brackneil Road</a>, Bracknell (above) has been listed for over $1 million.
Similarly a mixed farming property at <a href="https://www.realestate.com.au/property-mixed+farming-tas-seymour-7887094" target="_blank">19595 Tasman Highway</a>, Seymour (below) has been listed for over $1.2 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/03/19595%20Tasman%20Highway.jpg" alt="">
A mixed farming property at <a href="https://www.realestate.com.au/sold/property-mixed+farming-tas-barrington-7789626" target="_blank">1854 Sheffield Road</a>, Barrington (below) was sold recently for $2.65 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/03/1854%20Sheffield%20Road.jpg" alt="">
Similarly a mixed farming property at <a href="https://www.realestate.com.au/sold/property-mixed+farming-tas-somerset-7866082" target="_blank">83 Haywoods Lane</a>, Somerset (below) was sold on February this year 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/2017/04/03/83%20Haywoods%20Lane.jpg" alt="">
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Farms account for 27 percent of Tasmania's regional market sales

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March combined capital city dwelling values increased 1.4 percent over the month, according to CoreLogic, with the combined capital city annual growth rate at 12.9 percent -  the highest annual rate of growth since the twelve months ending May 2010. 
Tim Lawless, CoreLogic head of research said while Sydney and Melbourne recorded the strongest growth conditions, the annual rate of capital gains has also moved into double-digit growth in both Hobart (+10.2 percent) and Canberra (+12.8 percent).
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.48.11%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.48.11%20AM.png" alt="">
"On an annual basis, dwelling values in Perth fell by -4.7 percent and by -4.4 percent in Darwin where economic conditions and migration trends remain weak across both cities," he said.
"Adelaide and Brisbane also saw dwelling values continue to trend higher at a sustainable pace with increases of 3.4 percent and 3.7 percent respectively in these cities over the past twelve months.
"The March results highlight the continued resurgence in the pace of capital gains. 
“This became evident through the second half of 2016, fueled largely by lower mortgage rates and a rebound in investment activity. Since June last year, the CoreLogic capital city hedonic index has increased by 9.3 percent.”
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.50.08%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.50.08%20AM.png" alt="">
He said the diversity of performance between houses and units is also a current key feature of the housing market.
"Across the combined capitals index, house values were 13.4 percent higher over the past twelve months compared with a 9.8 percent rise in unit values," he said.
“The disparity in growth rates is more significant in those cities where high new unit supply is more apparent. In Melbourne, house values were 17.2 percent higher over the past twelve months compared with a 5.2 percent increase across the unit sector. Similarly, in Brisbane, house values were 4.0% higher over the past twelve months compared with a 0.2% rise in unit values over the same period.”
“The weaker growth conditions within the unit markets’ sector reflect heightened levels of new supply across specific inner city precincts and also suggests that consumer confidence has been negatively affected by the warnings of a potential unit oversupply.”
“Given the recent policy announcements from the Australian Prudential Regulation Authority (APRA) are aimed at dampening investment related credit demand, we can expect lending conditions for investment purposes will tighten, particularly for investors with small deposits or those applying for an interest only loan. Additionally, higher mortgage rates handed down by Australia’s major banks may contribute towards cooling some of the exuberance being seen in the largest capital city housing markets.”
“Furthermore, organic constraints in the market are becoming more pronounced. As examples, record-low rental yields, which imply dwelling values are out of balance with rents, and heighted affordability constraints are preventing some prospective buyers from participating in the market.
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.51.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.51.12%20AM.png" alt="">
“Record-high levels of apartment supply are also likely to act as a brake on capital gains in those precincts where supply levels are high.
“Stronger buyer demand can be attributed to the rising number of investors participating in the market compared with a year ago as well as the lower cash rate stimulus and population growth. However, overall transaction numbers remain approximately 15.5 percent lower than their recent 2013/14 peaks.”
 “A shortage of advertised stock can contribute to upwards pressure on prices, as prospective buyers experience FOMO (fear of missing out) which reduces a buyers ability or willingness to negotiate on prices and causes some urgency in the decision making process.” 
</body></html>

Annual growth rate higher than 10 percent in half of Australian capital cities: Corelogic

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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