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<img src="https://counter.theconversation.edu.au/content/75130/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Climbing house prices seem to scare people but houses are relatively more affordable today than they were in 1990, it’s actually interest-rate risk that’s the bigger problem for first home buyers.
If you look at latest numbers on house prices, as a measure of affordability, they use a “median measure” – that is, the ratio of median house price to median salary. According to the latest Demographia survey, the price of the median Sydney house is 12.2 times the median salary, and it is 9.5 in Melbourne.
But it’s simply misleading to compare median-based measures of housing across different time periods in the same location. These simple median measures do not take into account differences in interest rates in different time periods. 
A house in 2017 that costs nine times the median salary, when mortgage interest rates are less than 4%, is arguably more affordable than a house in 1990 that costs six times the median salary. Interest rates in 1990 were 17 percent.
Consider this simple example. In 1990 a first home buyer purchases an average house in Sydney priced at A$194,000. With mortgage interest rates at 17 percent, the monthly mortgage repayments were A$2,765 for a 30-year mortgage.
But in 1990 the average full-time total earnings was only A$30,000 per annum, so the buyer’s mortgage repayments represented over 111 percent of before-tax earnings. In 2017 a first home buyer purchasing a Sydney house for A$1,000,000, with interest rates at 4 percent, is only required to pay A$4,774 every month, or 69% of their before-tax average full-time total earnings. 
So, relatively, houses are substantially more affordable today than they were in 1990. The lower interest rate means the costs of servicing a mortgage is lower today than it was 25 years ago, or even 50 years ago. 
However, those lower interest rates also mean today’s first home buyers face greater perils than their parents or grandparents.
<h2>Interest-rate risk</h2>
Interest rate risk is the potential impact that a small rise in mortgage interest rates can have on the standard of living of homeowners. This does not consider the likely direction of interest rates, rather how a 1 percent change in interest rates affects the repayments required on a variable rate mortgage.
When interest rates rise so do mortgage repayments. But the proportional increase in repayments is higher when interest rates are lower. For example, if mortgage interest rates were 1 percent, then increasing interest rates by another 1 percent will double the interest costs to the borrower. When interest rates are higher, a 1 percent increase in interest rates will have a lower proportional affect on their repayments.
If we go back to the example from before, the interest rate risk of the first home buyer from 1990 is much lower than that of the 2017 buyer. If mortgage interest rates rose by 1 percent in 1990, repayments would rise by only 5.7 percent to $2,923. For the 2017 buyer on the other hand, a 1 percent increase in interest rates would see their repayments rise by over 12 percent to $5,368 per month. 
This has the potential to financially destroy first home buyers and, due to the high reliance of the retail banking industry on residential real estate markets, potentially create a systemic financial crisis. 
Interest rate risk has an inverse relationship to interest rates – when interest rates fall, interest rate risk rises. As a result, interest rate risk has been steadily increasing as mortgage interest rates have fallen. Given that we have record low interest rates at the moment, interest rate risk has never been higher.
<h2>Putting it all together</h2>
Compounding all of this is the general trend of interest rates. 
In 1990 mortgage interest rates were at a record high and so our first home buyer could reasonably expect their repayments to decrease in the coming years. They could also reasonably expect that, as mortgage interest rates fell, demand for housing would increase (all else being equal) and so would house prices, generating a positive return on their investment.
But our 2017 first home buyer is buying when interest rates are at record lows. They cannot reasonably expect interest rates will fall or for their repayments to go down in future years. It’s also unlikely that house prices will increase as they have for previous generations. 
So while the current generation of first home buyers find housing much more affordable than their parents, they face substantially higher interest-rate risk and a worse outlook for returns on their investment. If we wish to address the concerns of first home buyers we should look into these issues rather than exploiting misrepresentative median-based measures of house affordability. 
Apart from addressing issues with the supply of housing, governments need to investigate ways to reduce interest rate risk over the longer term.
Jamie Alcock is associate Professor, University of Sydney and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/jamie-alcock-349860" target="_blank">here</a>.
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j.ballantyne1990-6AQqhLzZaK

Houses aren’t more unaffordable for first home buyers, but they are riskier

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Following the sold out of its first apartment project at Bowden, Hindmarsh Development has launched a second project within the emerging city-fringe precinct.
Apartments in The Artisan have been released in the new $23 million development.
The seven-storey project will comprise 50 apartments, including one, two and three- bedroom options, with prices starting from the low $300,000s.
The Artisan will become Hindmarsh Development’s second apartment project in Renewal SA’s Bowden development which continues to transform the old Clipsal industrial site near the Adelaide CBD.
The company’s first apartment project, The Bowery, has just been finished and is currently welcoming its first residents, with all 54 apartments in the seven-storey development selling well in advance of the project’s completion.
Hindmarsh Development Manager Morry Canala says The Artisan has been designed by architecture firm Tectvs
“From a design point of view, The Artisan will be a stylish new apartment building, but will also reflect the values of Bowden’s industrial past which we think is really important.”
The Artisan will be located on Fifth Street near The Bowery and opposite Kevin Taylor Park within Bowden.
The $1 billion Bowden development will ultimately comprise more than 2,400 homes as well as cafes, restaurants, offices, open spaces, parks and gardens as part of a vibrant, walkable community for approximately 3,500 new residents.
For more information about The Artisan visit <a href="https://www.theartisanbowden.com.au" target="_blank">www.theartisanbowden.com.au</a>.
For more information about Hindmarsh visit <a href="https://www.hindmarsh.com.au" target="_blank">www.hindmarsh.com.au</a>.
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Hindmarsh launches new $23 million Bowden apartment project following completion of The Bowery

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Plans for a new luxury $200 million beachfront residential tower in Surfers Paradise have been unveiled.
The development application for the 2-4 Wharf Road project was lodged with the City of Gold Coast earlier this month by developer Golden Gate Property.
<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/2017/03/10/Wharf%20Rd_Render%203.jpg" alt="">
The plans include 35 whole floor residences, a two-storey sub-penthouse, a three-storey penthouse, as well as a 450 square metre stand-alone beach house.
Architectural firm Rothelowman claims that the parametric design tools, wind engineering and modeling technology used to design the building’s facade is one of the first times it has been applied to a residential building anywhere in the world.
<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/2017/03/10/Wharf%20Rd_Render%202.jpg" alt="">
Golden Gate Property director of development David Whiteman said Wharf Rd aims to fill a gap in the region’s ultra-premium apartment market.
“We are delivering an internationally recognised project for the Gold Coast which, through delivering a combination of iconic design, an ultimate beachfront location and ultra high-end facilities, unquestionably defines the new meaning of exclusive beachfront living,” he said.
“We didn’t want it to look like a tower of glass, we wanted the design to really celebrate living on the beach and appreciate Rothelowman’s subtropical approach of designing each sky residence to open up like a traditional old Queenslander.”
Rothelowman associate principal Jonothan Cowle said the design aimed to reflect the culture and environment of the local area.
“We started with the idea of a beach house in the sky - a place with a veranda, offering protection from the summer sun, a place to linger, a garden, a place where one can enjoy the weather, the love of the environment, a place to revel in the playfulness of the coast,” he said.
“We wanted the tower to touch the ground so lightly it would seem to be dancing upon the sands. A tower so exactly tailored to its environment, that is couldn’t exist in any other place, but the coast of beautiful Surfers Paradise.”
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Plans for $200 million luxury Surfers Paradise tower unveiled

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The Art House, the Vaucluse home of art consultant Barta Partners director Bambi Blumberg and banker husband Derek, has sold before its scheduled weekend auction.
Laing + Simmons Double Bay agent D'Leanne Lewis had $6.8 million hopes for the home that has been their residence for over two decades.
They paid $910,000 for the <a href="https://www.realestate.com.au/sold/property-house-nsw-vaucluse-124817314" target="_blank">two level Serpentine Parade mansion</a> in 1995.
Designed by David Phillips, the contemporary five bedroom home has formal and informal living areas spilling onto covered terraces and entertaining areas which overlooks a level garden with pool.
Bambi is a director of art insurer Barta and Partners, while Derek is an ex-Westpac banker and Hutchison Telecommunications executive.
Their son, rising soccer star Ryan Blumberg, is attracting interest from some of Europe's top clubs after being selected to join the Nike Academy after a trial in France last year.
This article first appeared in The Sunday Telegraph.
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Art consultant Bambi Blumberg shoots out of Vaucluse

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South Sydney Rabbitoh's hooker Robbie Farah is passionate about family, footy and property.
As his onfield career nears an end, he appears to have turned his mind to accumulating an impressive property portfolio, all done with family.
Having recently secured a three bedroom knockdown in Wareemba in Sydney's inner west with his sports physio brother, Eddie, he has continued to spend - this time in Queensland.
The pair have spent $1.13 million in Brisbane on an elegant two level Queenslander in the upmarket suburb of Hamilton (pictured above).
The purchase was through YNWA Developments, named after the famous You'll Never Walk Alone anthem of Liverpool FC, Farah's favourite English Premier League team.
The classic five bedroom home on 810 square metres was renovated before its recent sale through Place Ascot agent Deborah Hinchy.
This one is a rental for the investment syndicate at $1,250 a week, reflecting a 5.75% yield.
The Wareemba knockdown (pictured below)  cost $2,406,000 with the 694 square metre parcel confirming it will be a future duplex site. 
<img src="https://www.urban.com.au/images/2017/03/28/war%20mert.jpeg" alt="">
Farah bought his first home in 2006 when he paid $500,000 for a two bedroom unit in Annandale.
It became a consistent rental for Farah since 2012. Its last $720 a week tenant gave a 7.5% yield.
He co-owns properties with Eddie in Cabarita, Concord and Maroubra, which total nearly $3.5 million.
This article first appeared in The Daily Telegraph.
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Rabbitoh Robbie Farah pads out property portfolio with Hamilton purchase

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There has been an increase of 132% in Ryde’s property prices over the past decade, according to Savills’ latest report.
“The average price in Ryde in September 2016 was $1.5 million for a house and $656,000 for a unit.
“House prices are 40% higher than the average across Sydney, but still offer a substantial discount compared to the neighbouring waterfront suburbs of Tennyson Point and Putney, where house prices average over $2 million.
“However, units in Ryde offer a discount of 7% when compared to the Sydney average due to a higher concentration of units in central, more expensive locations.
“Over the past 10 years, house and unit prices in Ryde have increased significantly with values rising by 144% and 122% respectively, outperforming the Sydney average.
“Over the past year, the rate of annual growth has slowed to just 5%, reflecting a more subdued housing market seen across Sydney,” the report stated.
Ryde’s median house prices is $1,600,000 while units can expect to have a median price of $691,400.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-ryde-124941598" target="_blank">10 Willow Crescent</a>, Ryde has been listed with a price guide of $1.75 million.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-ryde-125578458" target="_blank">6065/78A Belmore Street</a>, Ryde (below) has been listed for $680,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/6065_78A%20Belmore%20Street.jpg" alt="">
A strong tenant demand is driving investors to Ryde Savills says.
“Investors are attracted to Ryde for a number of reasons, including strong tenant demand.
“In Ryde, 28.1% of households are in the private rented sector, slightly higher than the average across Greater Sydney of 25.0%.
“Rental growth in Sydney and in Ryde has not kept pace with the strong capital value growth but the returns can still be attractive.
“The median weekly rent is $690 for houses and $520 for units, resulting in average yields of 2.4% and 4.1% respectively.
“Over the past 10 years, unit supply in Ryde has been inconsistent.
“A number of large-scale developments came to the market in 2014, resulting in two and half times the number of unit sales that year compared to the average over the previous five years.
“With strong price growth and rental demand, the Ryde market was able to absorb this increase in stock and the number of unit sales over the past year has decreased to be in line with the long-term average.
“The supply of new units can also affect the vacancy rate.
“In Ryde, the vacancy rate in September 2016 was 2.7%, up from 1.5% three months previous as more properties become available to rent,” Sophie Chick, Head of Savills Residential Research advised.
The population in Ryde increases by 2000 new residents annually Savills stated.
“Over the past 10 years, the population across the City of Ryde has increased by 20%, which equates to nearly 2,000 new residents per year.
“International buyers are an important source of demand for the housing market across Sydney as both owner occupiers and investors.
“In Ryde, there is already a large international community, particularly from Asia, with nearly 20% of residents describing their ancestry as Chinese compared to just 8% across Sydney.
“Residents in Ryde work in a number of locations.
“The City of Ryde, including Macquarie Park, is the most popular destination, accounting for a quarter of all workers.
“However, 75% of the workforce living in Ryde commute to elsewhere in Sydney, reflecting Ryde’s connectivity to both the centre of Sydney and other key employment locations such as Parramatta.
“The largest employment industry for people living in Ryde is the Professional, Scientific and Tech sector.
“This industry is the fastest growing in Sydney meaning Ryde is well-placed to draw on the newly created wealth that will result, as Tech buyers in particular look to emerging markets,” the report commented.
Savills says that Ryde will continue to benefit from increasing demands in Sydney’s population growth.
“The property market in Ryde has already, and will continue to, benefit from increasing demand due to Sydney's population growth.
“Over the next 20 years, the City of Ryde’s population is forecast to increase by 43% compared to 37% across Greater Sydney.
“As well as the new residential units under construction, a number of new office, retail and infrastructure projects are underway which will continue to increase the desirability of the area for existing and new residents,” the report stated.
 
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Property prices on the rise in Ryde: Savills

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The North West region of Melbourne had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 84 auctions known in the North West region, 91.7% resulted in success.
This is followed by the North East with 86.1% and the Inner East with 80.7%.
<a href="https://www.propertyobserver.com.au/images/2017/03/27/Screen%20Shot%202017-03-27%20at%201.50.29%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/27/Screen%20Shot%202017-03-27%20at%201.50.29%20pm.jpg" alt="">
South East region had the lowest auction clearance rate scoring only a 73.2% auction clearance rate.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-keilor+east-124827598" target="_blank">12 Medway Road</a>, Keilor East (above) was sold for 1.07 million.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-hillside-124314174" target="_blank">23 Grandview Crescent</a>, Hillside (below) was sold for $750,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/27/23%20Grandview%20Crescent.jpg" alt="">
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North West Melbourne region scores 91% auction clearance rate: CoreLogic

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The Northern Beaches had the highest weekend auction clearance rate in Sydney, according to CoreLogic’s latest report.
The property data firm says that out of the 80 auctions known to the in Northern Beaches 91.3% resulted in success.
This was followed by the City and Inner South with 90.1 % and Baulkham Hills and Hawkesbury with 88.2%.
<a href="https://www.propertyobserver.com.au/images/2017/03/27/Screen%20Shot%202017-03-27%20at%201.36.45%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/2017/03/27/Screen%20Shot%202017-03-27%20at%201.36.45%20pm.jpg" alt="">
Parramatta had the lowest auction clearance rate with only 63.8% of its 69 auctions cleared.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-freshwater-124857690" target="_blank">46 Brighton Street</a>, Freshwater (above) was sold for $2.811 million.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-belrose-124874982" target="_blank">11 Seeana Place</a>, Belrose (below) was sold 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/2017/03/27/11%20Seeana%20Place.jpg" alt="">
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Northern Beaches scores 90% auction clearance rate: CoreLogic

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The number of total listings across Australia is lower than this time last year, according to CoreLogic’s latest report.
The property data firm says that the total number of listings is down in all capital cities compared to 12 months ago.
There are seasonal issues such as Easter at work on the volumes.
<a href="https://www.propertyobserver.com.au/images/2017/03/27/Screen%20Shot%202017-03-27%20at%202.16.27%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/2017/03/27/Screen%20Shot%202017-03-27%20at%202.16.27%20pm.jpg" alt="">
This is despite an increase of new listings by 14.3% over the past 12 months.
Hobart has the biggest decline of total listings, down by 27.5% despite an increase of 13.1% in the number of new listings.
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Listings sits lower than last March: CoreLogic

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Dexus has launched its new brand.
It is suggested the brand reinforces Dexus as a property group that is innovative and customer focused.
Darren Sternberg, Dexus chief executive officer, said it will take a phased approach to rebrand its buildings over the coming months.
"Our new brand has been created to represent who we are today and our future aspirations.
"Our new brand provides an opportunity to lift awareness, shift conversation and enhance value by demonstrating Dexus's point of difference in an undifferentiated market.
"We are redefining the work place through progressive thinking and the courage to innovate; listening, learning, understanding and responding; being active now and in the future; and making the complex simple.
"The core concept behind the brand is that we bring multiple perspectives together, and embrace life in full colour."
The brand video is available <a href="https://www.youtube.com/watch?v=nhJFkCUm8-A&amp;feature=youtu.be" target="_blank">here</a>.
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Dexus unveils its new brand

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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