<html><body><div id="story-description">
<div id="story-description">
AMP Capital chief economist Shane Oliver has forecast a slowdown in property price gains in Sydney and Melbourne this year ahead of a 5-10 percent price fall starting next year.
<div id="story-description">
The call comes in the wake of the Australian Prudential Regulation Auth­or­ity’s announcement on Friday of tougher lending standards, including a crackdown on interest-only home lending.
Dr Oliver said it was no surprise to see APRA increase its focus on the investor lending market, but told The Australian the moves had come too late.
“The latest moves by APRA, coming on the back of bank mortgage rate hikes over the last two weeks, the likelihood of action to boost affordability in the May budget (including a cut to the capital gains tax discount), and the surge in unit supply at a time of silly prices, are all likely to result in a slowdown in property price gains in Sydney and Melbourne this year ahead of a 5-10 per cent price fall starting next year some time,” he said.
Based on the latest APRA data, CBA is the bank with the highest annual home loan growth of 7.6 per cent, compared to system growth of 7 per cent.
Westpac was up 6.4 per cent, ANZ 5.7 per cent and NAB 5.2 per cent.
CBA’s interest-only loans are growing at 42 per cent and account for 40 per cent of its book.
Home loans account for 62 per cent of all bank loans.
The tighter interest only slowdown measures from APRA came as the RBA’s latest quarterly spreadsheets on household ­finances, released on Friday, showed that average debts were now 89 per cent greater than ­incomes, up from 67 per cent greater just four years ago. 
While household debts have risen by 32 per cent in the past five years, the value of household assets­ have risen even faster, by 51 per cent. Household net worth has gained 57 per cent over that period, from $5.6 trillion to $8.8 trillion, translating to an increase from $666,864 per household to $954,550 in just five years.
The booming housing markets of Sydney and Melbourne are a large part of this increase, with the value of the housing stock rising by 47 per cent, from $4.2 trillion to $6.1 trillion. The size of the housing stock has increased by 8.5 per cent over that period, so the ­increase per house has been about 33 per cent.
Oliver has previously predicted 5 to 10 percent price falls.
Last October he noted the surge in prices and debt has led many to conclude a crash is imminent.
"But we have heard that lots of times over the last 10-15 years.
"Several considerations suggest a crash is unlikely.
"First, we have not seen a generalised oversupply and at the current rate we won’t go into oversupply until around 2017-18.
"Second, despite talk of mortgage stress the reality is that debt interest payments relative to income are around 2004 levels.
"Third, Australia has still not seen anything like the deterioration in lending standards seen in other countries prior to the GFC.
"In fact in recent years there has been a decline in low-doc loans and a reduction in loans with high loan to valuation ratios."
<a href="https://www.propertyobserver.com.au/images/2016/10/20/Tightening%20lending%20standards.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/2016/10/20/Tightening%20lending%20standards.jpg" alt="">
Oliver noted it is dangerous to generalise before saying nationwide price falls are unlikely until the RBA starts to raise interest rates again.
"This is unlikely before 2018, at which point we are likely to see a 5 percent or so pullback in property prices as was seen in the 2009 and 2011 down cycles.
"Sydney and Melbourne having seen the biggest gains are more at risk and so could fall 5-10 percent around 2018."
 
For more real estate traps and tips visit <a href="https://realestatetraps.com.au/">realestatetraps.com.au</a>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Shane Oliver again tips 5 to 10 percent property price falls for Sydney and Melbourne

<html><body>
The level of bank discounting to borrowers will be closely scrutinised by the Australian Prudential Regulation Authority given the regulators' heightened focus on responsible lending, Deloitte partner Kevin Nixon has warned.
"If you are offering big discounts, you can expect APRA to ask why, particularly if it looks like the main goal is to increase volumes ahead of quarterly announcements. Further, under the broader culture remit there will be a focus on transparency and fairness in pricing," Mr Nixon told Fairfax Media.
Banks will continue to offer owner occupiers steep discounts on standard variable rates to protect their market share as investor lending is tightened, Deloitte's annual Australian mortgage report has suggested.
Major banks had been offering owner occupiers discounts on the standard variable rate of up to 130 basis points. 
Discounts are currently tracking at 100 basis points, it noted, where loans are for 80 per cent or less of the value of the property.
New owner occupiers or those refinancing loans should be able to access financing at around 4 per cent.
A survey of mortgage experts expect discounting for owner occupiers to continue, but perhaps at a reduced rate of between 80 and 120 basis points this year. 
Leaning towards 80 basis points, said AFG executive director Malcolm Watkins.
But for investors, loan discounts have tightened.
Deloitte said the ongoing discounts on banks' "front book" (new loans) are putting pressure on net interest margins, which is increasing the pressure to increase standard variable rates on the "back book" (existing loans).
Deloitte's report was based the report on a survey with 10 leaders of the mortgage industry.
The participants in the survey were: banks Commonwealth Bank of Australia, National Australia Bank, Bank of Queensland and Suncorp; non-bank lenders Pepper Group and Homeloans; mortgage brokers AFG and eChoice; and consultants CoreLogic and Steve Weston.
Half of the survey participants said they expect settlement volumes to fall this year compared to 2016.
But six out of 10 respondents say house prices will continue to grow, albeit at a lower level than 2015 to 2016. 
Two participants in the survey said house price growth could be higher than 2016 levels; while two said it would be flat - but no-one is forecasting that house prices in Sydney or Melbourne would fall, or that there would be a significant downturn across the country.
Meg Bonighton, general manager of home lending at NAB, said tighter lending standards and the macroprudential investor loan growth caps will see demand from investors and overseas borrowers "continuing to moderate" in 2017.
"In general, it will soften the impact on house price growth that we've seen over the past couple of years, while pockets of major cities are likely to continue with solid growth," she said.
</body></html>

Deloitte warns APRA is watching bank discounting

<html><body>
An inner city warehouse conversion that featured in the television drama series, Offspring sold at weekend auction in Melbourne's Clifton Hill for $1.805 million. 
A 195 sq m space styled by architect Grant Cheyne in the former 1890s Pitman Shoe Factory sold $305,000 above its reserve price given three keen bidders.
The <a href="https://www.realestate.com.au/sold/property-house-vic-clifton+hill-124932798" target="_blank">6/37 Groom Street warehouse</a> (above) space included a 50 sqm outdoor terrace with district views.
The vendor - who paid $700,000 in 2004 - even threw in some furniture.
The Herald Sun reported the opening $1.505 million bid meant the property with exposed bricks, ceiling trusses and old original timber was on the market straight away. 
The apartment was the Offspring location where Geraldine, Dr Nina’s mother, hid out from her children and met her new beau.
Falling auction volumes have contributed to the early April clearance rate remaining very strong.
This weekend Adelaide joined Sydney and Melbourne's hot housing markets as the three cities notched up auction success clearance rates of over 80 per cent. 
The last time Sydney, Melbourne and Adelaide all cleared the 80 per cent level was the Easter weekend of April 2015, when lower volumes boosted clearance rates.
According to CoreLogic’s latest report, the national capital city preliminary clearance rate remains in the mid-high 70 per cent range for another week.
The preliminary results this week showed 78.1 per cent of the 2,121 reported auctions were successful, up from 74.5 per cent last weekend and higher than the corresponding week last year when a 66.6 per cent clearance rate.
House price growth in March picked up to 19 per cent in Sydney and 16 per cent in Melbourne, CoreLogic said on Friday.
There were 2,646 properties taken to auction, down from 3,171 last week, when auction volumes reached their second highest level so far this year.
Melbourne's preliminary 80.6 per cent came from the 1,007 reported auctions sold this week. 
A <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-124912402" target="_blank">1912 five bedroom Canterbury offering</a> (below) topped weekend auction results selling for more than $500,000 over reserve at auction at $5.81 million, the top result across the nation.
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.12.30%20AM.png" alt="">
The house on 1222 sq m sold to a Balwyn family with two children through Marshall White who were advising $4.7 million plus. 
Three buyers battled it out for 31 Mangarra Road, which last sold for $860,000 in 1998, Domain advised.
Around $4 million was secured in Fitzroy in post-auction negotiations when Graeme Simsion, author of international bestseller The Rosie Project, and wife Anne Buist sold their <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-124932386" target="_blank">home on Gore Street</a> (below).
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.13.32%20AM.png" alt="">
The couple transformed the derelict property into a five-bedroom, three-bathroom house with an internal tranquility pool, along with a striking spiral staircase leading to a ship's prow library and a roof garden.
Agent Arch Staver passed the home in on a $4 million vendor bid and sold it post-auction for an undisclosed price.
There were 1,139 properties taken to auction across the city, decreasing from 1,607 last week when the final clearance rate was recorded at 78.9 per cent.
The Inner region of Melbourne had a clearance rate of 79.7 per cent with the strongest rate recorded across the North West region where 86.3 per cent of auctions were successful.
One not selling was the Hampton childhood home of cricket legend Shane Warne which was passed in on a single vendor bid of $1.5 million.
The spin king's parents, Keith and Brigitte Warne owned the now much renovated home at <a href="https://www.realestate.com.au/property-house-vic-hampton-124924250" target="_blank">229 Thomas Street</a> (below) in the late 1960s.
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.14.24%20AM.png" alt="">
The Herald Sun wrote the family owned the California bungalow until 1976 when it sold for $41,000.
The vendors are selling because they’d just had their fourth child and needed more space.
In Sydney, the preliminary clearance rate of 80.7 per cent is up from 75.8 per cent last weekend, and also higher than the corresponding week last year, when a clearance rate of 69.8 per cent was recorded.
There were 1,098 auctions held this week, down from 1,098 last week.
A house at McMahons Point was sold for $4.425 million making it Sydney’s most expensive auction sale over the weekend.
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.15.09%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-mcmahons+point-124937958" target="_blank">13 Victoria Street</a>, (above) 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.
Of the Sydney sub-regions, Inner West region recorded the strongest clearance rate of 93.7 per cent across 76 auctions.
The preliminary clearance rate in Brisbane this week rose to 56.8 per cent, from 42.0 per cent last week.
Auction volumes were lower this week with 173 auctions held, down from 196 last week.  
A two bedroom house at Riverview, near Ipswich sold for $222,250, the cheapest weekend result across the nation.
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.16.15%20AM.png" alt="">
The <a href="https://www.realestate.com.au/property-house-qld-riverview-124866926" target="_blank">15 Station Road</a> (above) was a dual title 971 sqm property.
A house at Coorparoo sold for $1.565 million making it Brisbane's most expensive sale.
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.20.31%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-house-qld-coorparoo-124941710" target="_blank">79 Buena Vista Avenue</a> (above), the 809 sqm property was offered for the first time in 40 years.
This week, Adelaide saw a preliminary clearance rate of 80.6 per cent, with 67 reported results across a total of 113 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 66.4 per cent and 71.2 per cent one year ago.
A charming Leabrook bungalow sold for $1.6 million making it Adelaide’s most expensive weekend sale.
<img src="https://www.urban.com.au/images/2017/04/Screen%20Shot%202017-04-03%20at%209.21.18%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-house-sa-leabrook-124944822" target="_blank">3 Godfrey Terrace</a> (above), 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.
Perth’s clearance rate of 35.7 per cent across 43 auctions is up slightly from last week, when 33 auctions were held and a clearance rate of 35.3 per cent was recorded.
Over the same week last year, the clearance rate was a higher 46.9 per cent, and 40 auctions were held.
Canberra’s clearance rate was 76.3 per cent this week across 66 auctions, down from 77.4 per cent last week across 103 auctions.
A besser block built house set against a bushland backdrop at Deakin sold for $1.455 million making it Canberra’s most expensive.
<img src="https://www.urban.com.au/images/2017/04/02/Screen%20Shot%202017-04-03%20at%209.22.22%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-house-act-deakin-124881626" target="_blank">22 Galway Place</a> (above), the 1073 sqm property was designed by architect John Scollay and sold in its original condition.
Jonathan Chancellor is editor at large at <a href="https://www.propertyobserver.com.au/">Property Observer</a>.
</body></html>

Adelaide joins Sydney and Melbourne's hot housing markets 

<html><body>
Despite falling auction volumes the preliminary clearance rate remains strong, according to CoreLogic’s latest report.
The property data firm says that the combined capital city preliminary clearance rate remains in the mid-high 70 percent range for another week, while auction volumes decrease week-on-week.
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.19%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/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.19%20am.jpg" alt="">
There were 2,646 properties taken to auction this week, down from 3,171 last week, when auction volumes reached their second highest level so far this year.
Despite auction volumes shifting generally higher over the last few weeks, the weighted average clearance rate has remained relatively consistent, with preliminary results this week showing 78.1 percent of the 2,121 reported auctions were successful.
This is an increase from 74.5 per cent last week and also higher than the corresponding week last year when a 66.6 percent clearance rate was recorded across a significantly lower volume of auctions coming out of the Easter period (1,582).
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.28%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/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.28%20am.jpg" alt="">
Across Melbourne, preliminary results show that 80.6 percent of the 1,007 reported auctions sold this week.
There were 1,139 properties taken to auction across the city, decreasing from 1,607 last week when the final clearance rate was recorded at 78.9 percent.
This is also higher than the same time last year, when a 69.2 percent clearance rate was recorded across a much lower volume of auctions (584).
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.37%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/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.37%20am.jpg" alt="">
The Inner region of Melbourne had the highest number of auctions this week (234), with a preliminary clearance rate of 79.7 percent.
However, the strongest rate of clearance was recorded across the North West region and West region, where 86.3 percent and 86.2 percent of auctions were successful.
In Sydney, the preliminary clearance rate of 80.7 percent is up from 75.8 percent last week, and also higher than the corresponding week last year, when a clearance rate of 69.8 percent was recorded across a much lower 664 auctions.
There were 1,098 auctions held this week, down from 1,098 last week.
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.45%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/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.45%20am.jpg" alt="">
Of the Sydney sub-regions, Inner West region recorded the strongest clearance rate of 93.7 percent across 76 auctions, while the North Sydney and Hornsby region had the highest volume of auctions (183).
The preliminary clearance rate in Brisbane this week rose to 56.8 percent, from 42.0 percent last week.
Auction volumes were lower this week with 173 auctions held, down from 196 last week.
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.54%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/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.34.54%20am.jpg" alt="">
Meanwhile, across the Gold Coast, 57.1 percent of the 14 reported auctions were successful.
This week, Adelaide saw a preliminary clearance rate of 80.6 percent, with 67 reported results across a total of 113 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 66.4 percent and 71.2 percent one year ago.
<a href="https://www.propertyobserver.com.au/images/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.35.05%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/2017/04/02/Screen%20Shot%202017-04-02%20at%2010.35.05%20am.jpg" alt="">
Perth’s clearance rate of 35.7 percent across 43 auctions is up slightly from last week, when 33 auctions were held and a clearance rate of 35.3 percent was recorded.
Over the same week last year, the clearance rate was a higher 46.9 percent, and 40 auctions were held.
Canberra’s clearance rate was 76.3 percent this week across 66 auctions, down from 77.4 percent last week across 103 auctions.
There were 14 Tasmanian auctions held this week. 3 were reported as sold.
</body></html>

Preliminary clearance rate strong as auction volumes fall: CoreLogic

<html><body>
A large Chinese pig, poultry and stockfeed company, Shenzhen Kondarl, has told the Shenzhen stock exchange it is close to finalising the purchase of Australia’s biggest avocado farm for as much as a billion Chinese yuan ($192 million).
But Neil Delory, the Australian owner of Jasper Farms at Busselton, Western Australia, stated that no deal had been done.
He confirmed that two of his highly productive avocado farms were being offered to both local and overseas investors through Ernst and Young, but said he was confused by the announcement.
Mr Delory said no memorandum of understanding for the sale had been signed with the Chinese company, and that Australian bidders were still in the race.
It is believed that the announcement may have been a signal to investors that it has permission to spend a billion yuan for purchasing a property or business outside of China.
Such a large farm purchase would also require permission from Australia’s Foreign Investment Review Board.
Mr Delory admits that the announcement especially annoyed him as it has caused confusion for his brother Russell Delroy who has an avocado farm under the trading name Delory Orchards and supplies 25 percent of Coles supermarkets’ avocado demand.
</body></html>

Owner of WA avocado farm annoyed by Chinese investor's premature announcement

<html><body>
Melbourne is the second highest expensive place to purchase a private treaty property, according to CoreLogic’s latest report.
The property data firm says that the average house in Melbourne costs around $700,000 while a unit costs around $520,000.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.04%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/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.04%20pm.jpg" alt="">
This is in contrast to Sydney, which is the most expensive with $940,000 for houses and $740,000 for units.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-kensington-123695926" target="_blank">22 The Crescent</a>, Kensington (above) has been sold for $725,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-collingwood-120737429" target="_blank">56 Palmer Street</a>, Collingwood (below) has been sold for $715,000.
<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/2017/03/31/56%20Palmer%20Street.jpg" alt="">
</body></html>

Melbourne sits second most expensive place to purchase a property: CoreLogic

<html><body>
AVJennings has kicked in an extra $5000 incentive for first home buyers who purchase in any of its Queensland residential developments until 18 May.
This is on top of Queensland's $20,000 First Home Owner's Grant which is reduced to $15,000 on 1 July.
Tony Creighton, Queensland sales manager, AVJennings, said the ability to couple both the state government and developer first home buyer incentives, together with the release of the popular loft-style ‘Fusine’ townhome at Villaggio, was expected to spark an increase in first time purchaser enquiries.
"We want first home buyers to consider their options and realise that purchasing an AVJennings property before June 30 means they can potentially gain an additional $10,000 towards their new home," he said.
"There are also options for those who haven't saved a full deposit to get into the market with a savings plan, whereby the customer can secure a new home and continue to save their full deposit while waiting for their property to be built.
"We have affordable, entry-level townhomes available in the majority of our communities throughout South-East Queensland.
"But our most popular design for first home buyers - the Fusine - is now selling at Villaggio in Richlands, which is a fast growing area just 15 kilometres west of Brisbane.
"Essentially, the Fusine is much like a free standing two-bedroom apartment, with a single lock up garage on the ground floor, connected by an internal staircase to the upper level, which includes the bedrooms and living areas.
"The Fusine boasts 90.7sqm of living space and has been designed for comfort and privacy, with the two bedrooms separated by an open-plan living area.
"This architecturally designed home is completed with high quality finishes, split system air-conditioning and a modern kitchen with European stainless steel appliances, opening on to a generous private balcony perfect for entertaining at home.
"It's the ideal first home or investment property."
For further information visit <a href="https://www.avjennings.com.au" target="_blank">www.avjennings.com.au</a>
</body></html>

AVJennings kicks in $5000 incentive for Queensland first home buyers

<html><body>
The combined capital city auction clearance rate was recorded at 74.5 percent across 3,171 auctions last week, according to CoreLogic's latest data.
The property data firm says that clearance rates increased on higher volumes last week with the clearance rate recorded at 74.1 percent the previous week from 2,916 auctions.
Auction clearance rates last week were higher than they were a year ago when they were recorded at 70.9 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/30/Screen%20Shot%202017-03-30%20at%201.38.09%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/2017/03/30/Screen%20Shot%202017-03-30%20at%201.38.09%20pm.jpg" alt="">
Melbourne’s auction clearance rate rose from 77.0 percent the previous week to 78.9 percent last week while auction volumes also rose from 1,441.
In Sydney, clearance rates were slightly lower last week than over the previous week, falling to 75.8 percent from 76.8 percent.
Sydney auction volumes were higher over the week increasing to 1,098 from 1,001.
Outside of the major auction markets, clearance rates increased in Adelaide, Canberra and Tasmania but were lower elsewhere.
The number of new and total residential properties advertised for sale has fallen again over the past week and each remain lower than they were a year ago.
Over the 28 days to March 26, there were 45,228 newly advertised residential properties for sale nationally and 28,302 newly advertised for sale properties across the combined capital cities.
The number of new properties advertised for sale is -0.9 percent lower over the year nationally but 4.9 percent higher across the combined capital cities.
<a href="https://www.propertyobserver.com.au/images/2017/03/30/Screen%20Shot%202017-03-30%20at%201.42.24%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/2017/03/30/Screen%20Shot%202017-03-30%20at%201.42.24%20pm.jpg" alt="">
The number of newly advertised properties available for sale is lower over the year in Brisbane (-9.9 percent), Adelaide (-0.1 percent) and Perth (-6.0 percent) but is higher across the remaining capital cities.
Nationally there were 232,160 total properties advertised for sale over the past 28 days with 107,198 advertised across the combined capital cities.
Total advertised stock is -6.9 percent lower over the year nationally and -4.0 percent lower across the combined capital cities.
<a href="https://www.propertyobserver.com.au/images/2017/03/30/Screen%20Shot%202017-03-30%20at%201.42.30%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/2017/03/30/Screen%20Shot%202017-03-30%20at%201.42.30%20pm.jpg" alt="">
Each individual capital city currently has fewer homes advertised for sale relative to a year ago with Hobart (-27.5 percent) and Canberra (-8.3 percent) having seen the greatest declines.
The lack of stock advertised for sale, particularly in Sydney, Melbourne, Hobart and Darwin is contributing to the relatively large increases in dwelling values.
</body></html>

Auction clearance rate recorded at 74 percent: CoreLogic

<html><body><div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-paras section">
House price growth in Sydney and Melbourne increased further in March according to CoreLogic, with Sydney house prices up 19 percent compared to the same month last year and Melbourne 16 percent.
Tim Lawless, CoreLogic head of research, said the early results come after a strong rebound in housing market conditions through the latter half of 2016 and into 2017.
"The strong capital gain results are further evidenced by a continuation in low stock levels, high auction clearance rates and strong investment demand," he said.
"March's figures reflected a strong rebound in housing market conditions that picked up in the latter half of last year and continued into this year."
</div>
</div>
</div></body></html>

Sydney home prices up 19 percent in year to March: CoreLogic

<html><body>
The level of delinquent housing loans for prime residential mortgage-backed securities increased 1.29 percent in January from December's 1.15 percent, according to S&amp;P Global Ratings.
The category for mortgages 31-60 days in arrears showed the largest increase.
The report said the magnitude of the month-on-month increase in January 2017 was higher than in previous months.
"While some of the increase is due to a decline in outstanding loan balances, the category for mortgages 31-60 days in arrears showed the largest increase," the report found.
"This suggests more borrowers have fallen behind on their loan repayments for the first time.
"The major bank and regional bank sectors recorded larger increases in borrowers who are 31-60 days behind on their mortgage repayments.
"All originators except nonbank financial institutions recorded an increase in arrears in January compared with the previous month.
"Despite the increase, arrears levels in January remained close to long-term averages."
"Mortgage arrears rose in every state and territory in January from the previous month.
"Among the states, South Australia recorded the largest increase in arrears, rising to 1.81 percent from 1.53 percent in December, Home loan arrears in Western Australia rose to 2.33 percent in January from 2.10 percent in December.
"Arrears rose month on month in January to 1.03 percent in New South Wales and 1.18 percent in Victoria."
The report can be found at <a href="https://www.sfsurveillance.com.au/" target="_blank">https://www.sfsurveillance.com.au</a>.
</body></html>

Home loan delinquencies rise in January

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News