<html><body>
Over the September 2016 quarter, 26.4 percent of  Darwin houses and 41.0 percent of Darwin units resold  for less than their previous purchase price, according to CoreLogic’s latest Pain and Gain report.
The property data firm says that the instances of loss-making resales have continued  to trend higher over the quarter from their previous record-highs.
The chart below relates to Darwin only losses in houses versus units.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-20.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/2017/01/30/Corelogic-20.jpg" alt="">
Across the council areas, Litchfield saw the lowest proportion of loss-making resales (17.4%) followed by: Darwin (31.7%) and Palmerston (33.9%).
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-21%20copy%202.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/30/Corelogic-21%20copy%202.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Darwin property resales at loss highest in Palmerston: CoreLogic Pain and Gain

<html><body>
Nationally, 8.0 percent of houses and 12.7 percent of units were resold at a loss over the September 2016 quarter, according to CoreLogic's latest Pain and Gain report.
The property data firm says that splitting this out across the capital cities and regional areas shows that for houses, 5.6 percent resold at a loss in the capital cities and 11.7 percent resold at a loss outside of the capital cities.
For units, 10.2 percent resold at a loss in the capital cities compared to 18.4 percent across regional areas of the country.
Sydney was the only major region nationally in which the proportion of units sold at a loss over the September 2016 quarter was lower than houses.
In many of the regions analysed the difference was significant with Melbourne, Brisbane, regional NT and the Australian Capital Territory recording a proportion of loss-making resales for units that was more than double that of houses.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-05.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/2017/01/30/Corelogic-05.jpg" alt="">
The historical data indicates that it has been extremely rare for resales of houses to record a higher proportion of loss than units.
This is reflective of the fact that house values have typically increased at a more rapid pace than units.
It is also reflective of the fact that historically houses have recorded high buyer demand against a backdrop of constrained supply.
In a market like Sydney where more units have been built than houses over the past two decades - and the gap between house and unit prices is substantial - CoreLogic noted the trend had changed recently with units proving less likely to resell at a loss than houses.
</body></html>

Units resold more often at a loss than houses everywhere but Sydney: CoreLogic Pain and Gain

<html><body>
Adelaide’s residential development Realm Adelaide will be the highest in the city at 132 metres and feature 320 one, two, three and four bedroom apartments across 40 levels. 
Realm Adelaide’s two penthouses, priced around $5.5 million, span more than 500 square metres each and are divided into retreat and relaxation zones, and feature four bedrooms, with ensuites.
<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/2017/01/30/Realm_Renders_16038_AUSTIN_COMMON_DINING_FINAL_HI_RES.jpg" alt="">
Designed by Elenberg Fraser, founder Callum Fraser said Realm Adelaide’s golden geometric form will stand out on the Adelaide skyline, creating a strong architectural statement in the city.
“Befitting this prestigious address we sought inspiration from the European masters from Mies van der Rohe to Gio Ponti, those who invented the art of restrained design that exudes luxury,” Mr Fraser said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/30/Realm_Renders_16038_AUSTIN_COMMON_POOL_FINAL_HI_RES.jpg" alt="">
“The interior design pays tribute to the site’s heritage through a natural, tonal material palette enhanced by subtle gold detailing that reference this past.”
The development will have two levels dedicated to health, wellbeing and entertaining and the building’s eighth level, includes a CrossFit-enabled gym, dining and games rooms as well as a lounge and outdoor entertaining zone and a 25 metre lap pool and spa nestled among resort-like cabana seating.
Residents in the premium sky residences have access to a 500 square metre rooftop at level 39 as well as a wellness centre featuring yoga studio and private massage suite, spa, sauna and steam room pods.
<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/2017/01/30/Realm_Renders_16038_Austin_Street_Standard_Bedroom.jpg" alt="">
Realm Adelaide is being developed by Parallel Property, a private Sydney developer with family links to Adelaide.
Sales will commence in February.
For more information visit: <a href="https://www.realmadelaide.com" target="_blank">www.realmadelaide.com</a>
</body></html>

Adelaide's highest residence in Realm Adelaide for sale at $5.5 million

<html><body>
Perth is the location with the second longest time required to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time for a house to sell at Perth is 90 days while a unit can take up to 99 days to sell.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Capital%20city%20median%20time.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/2017/01/30/Capital%20city%20median%20time.jpg" alt="">
Darwin houses takes 104 days to sell.
</body></html>

Perth second slowest behind Darwin in time to sell a property: CoreLogic

<html><body>
Adelaide is the second cheapest capital city to purchase a unit, according to CoreLogic’s latest report.
The property data firm says that out of the 114 sales observed by CoreLogic the average recent Adelaide private treaty price was $295,000.
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Capital%20city%20private%20treaty.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/2017/01/24/Capital%20city%20private%20treaty.jpg" alt="">
It costs on average $416,000 to purchase a home, which also makes Adelaide the second cheapest place to purchase a house.
Darwin is the cheapest place to purchase a unit with only a median price of $285,000 while a house in Hobart can cost up to $352,500.
</body></html>

Adelaide second cheapest place to purchase a unit behind Darwin: CoreLogic

<html><body>
The biggest sale of last week came in Dural where Touraine, an eight bedroom palatial mansion, sold for $8.8 million.
It came with a revised price guide of $9 million to $9.9 million, having initially been listed nearly a year ago for between $11 million and $12 million.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-dural-124185582" target="_blank">grand home</a> (above and below) has 10 marble bathrooms, a self-contained guest accommodation, home office, dance studio, media library, billiard room with wet bar and a wine cellar.
There's a 20 metre swimming pool with spa, tennis court and expansive entertaining terraces on the two hectare estate.
The home was sold by McGrath Castle Hill agents Elise Lau and Joel McSeveny.
<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/2017/01/30/Dural2.jpg" alt="" width="492" height="365">
The biggest sale in Queensland came from Surfers Paradise, where former chief operating officer of Village Roadshow Peter Foo sold his Paradise Waters home for $3.6 million.
The <a href="https://www.realestate.com.au/sold/property-house-qld-paradise+waters-123861998" target="_blank">four bedroom, five bedroom waterfront</a> (below) cost Foo $2,672,000 in 2010.
<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/2017/01/30/Surfers.jpg" alt="" width="493" height="311">
It features a swimming pool, games room and ponton on the 836 sqm parcel.
Russell Rollington at First National Surfers Paradise marketed the home.
 
 
 
</body></html>

Luxury Dural mansion tops weeks sales at $8.8 million: CoreLogic

<html><body>
REA Group chief economist Nerida Conisbee looks at what we should expect from Australia’s commercial property market in 2017.
1. Sydney to remain the top performer for both capital and rental returns
Sydney now has the lowest vacancy rate in Australia for office and industrial property.
With economic growth continuing in NSW, a slow development pipeline and more stock being taken out of the market, there are no signs of this changing in 2017.
Sydney’s CBD office market will be the strongest commercial market nationally, with vacancy continuing to decline, partly because of a growth in white collar employment but also because of the construction of Sydney Metro taking out large chunks of secondary space.
While this is great for landlords, it will be challenging for tenants as rents rise and available options reduce.
While there is some new development taking place, there is unlikely to be enough completed in 2017 to satisfy demand and this will be a drag on economic growth for NSW.
2. Flow of Chinese money to continue
Chinese buyers purchased US$3.7 billion of Australian commercial property in 2016, according to Real Capital Analytics, down from US$4.3 billion in 2015.
This decline is likely to be due to lack of buying opportunities, as opposed to a lack of funds, as buyer interest appears to continue to grow unabated.
Changes will continue to occur to the types of Chinese buyers targeting Australia, as well as what they choose to purchase.
The first wave of Chinese buyers were developers and these groups are now firmly entrenched in the Australian market.
Sovereign wealth funds have also become well established.
The next wave is likely to be large Chinese conglomerates, looking to diversify their risk and tap into the significant opportunities in Australian property.
These changes to buyers mean that the types of property is also changing.
While development sites and office buildings still dominate, growing interest from Chinese buyers in Australian hotels, agriculture and retail will be a key theme in 2017.
3. Australia’s safe haven status confirmed
As concerns about Brexit rock London – historically one of the safest markets in the world for commercial property – and uncertainty as to the impact of a Trump presidency on US property raises concerns in that market, Australia is looking even more attractive.
A quarter of a century of positive economic growth, low sovereign risk and a strong-performing property sector are all characteristics of a desirable investment destination.
Will this change to the global political landscape redefine the markets that are considered safe? With the exception of Singapore, most of Asia has been seen as too politically risky for most large scale investors. This may begin to change in 2017.
4. Amazon to finally crack online shopping in Australia
Online shopping is not big in Australia. We like it well enough but certainly not as much as the rest of the world.
Largely this is due to the fact that the proportion of spending we do online for grocery shopping remains low.
Amazon announced they will enter the Australian market in 2017.
While it is uncertain exactly how aggressive they will be, if they replicate the success they have had elsewhere it will have an enormous impact on shopping behaviour.
This will be a challenge for our supermarket chains, as well as the shopping centres that contain them.
5. Shopping centres continue to adjust to a changing landscape
Shopping centres are resilient and have been remarkable in their ability to adjust to changing consumer preferences.
Now much more than simply a place to shop, they offer entertainment, social interaction and places to eat.
Good shopping centres drive residential prices in the suburbs surrounding them, particularly if they have been recently upgraded.
Can they adapt to a potential threat from large online retailers like Amazon?
It is likely that the poorer ones will be hit but smart owners will redesign and refurbish to continue to attract consumers.
This could be by increasing the food and beverage options, being smarter about marketing to their local communities or providing more services such as medical centres and gyms.
6. Technology continues to change commercial property
The technological revolution has been slow to hit commercial property, certainly lagging behind sectors such as banking and retailing.
The indirect impacts, however, will continue to be a feature in 2017.
Whether that be by technology occupiers driving office markets (startups to Melbourne, established to Sydney), changing warehouse designs as a result of new picking technology or the above mentioned rise in online shopping, changing technology will impact the occupier markets in particular.
7. Interest rates to rise independently of RBA decisions
Interest rate rises on home loans were big news late last year, particularly given that the Reserve Bank of Australia made two cuts just a few months prior.
Next year, it is likely the banks will continue to break from the RBA’s rates decisions. Even if the RBA cuts interest rates, there is no guarantee that this will be passed on.
While this seems to be largely focused on residential lending, it may also impact lending on commercial property, particularly for those property types that are closely linked to the residential market (like development sites).
8. Australian investors expand offshore
Australians were among the biggest investors offshore in commercial property in the lead up to the GFC, but now barely feature.
Part of this is because so many of them made poor purchasing decisions, and have been impacted by those choices for many years.
The other factor is that so many large Australian investors are now backed by offshore money, which means very few want their funds sent outside Australia.
In 2017, however, the number of investors looking overseas is likely to grow.
That group is likely to be dominated by Australian superannuation funds, however smaller unlisted funds and syndicates are likely to become more active.
Part of this will be about moving up the risk curve but also about diversification and taking advantage of opportunities in other markets.
9. Investors continue to move up risk curve
The GFC was almost a decade ago and the types of property popular with investors have changed significantly over that time period.
Moving from the safest office markets in the years immediately after 2007 to the rise in the popularity of agribusiness, medical centres and self storage more recently, the change is consistent with most commercial property cycles.
A search for stock, yield and opportunity will continue to drive the types of properties that are attractive to investors in 2017.
This could mean moving offshore, into childcare centres or contaminated industrial sites.
10. Apartment oversupply concerns impact development site sales
The apartment boom has been kind to owners of development sites, with values rising rapidly over the past five years in almost every capital city.
In 2017, inner Melbourne and inner Brisbane are coming into an enormous amount of new apartment completions.
While this may not necessarily be a problem, it is likely to lead to developers taking a pause in these markets as the new supply is absorbed.
Expect development site values to stabilise or even decline as a result.
This article appeared in <a href="https://www.realcommercial.com.au/news/how-is-the-commercial-property-market-shaping-up-in-2017" target="_blank">www.realcommercial.com.au</a>.
</body></html>

How is the commercial property market shaping up in 2017?: Nerida Conisbee

<html><body>
The Cape Gloucester Beach Resort near the Gloucester Passage has been listed for $5.99 million.
It's been listed by four Brisbane friends who pooled their money together to buy the resort as they all share a passion for the water.
There are four shareholders, Arthur Perrins, Michael Hodges, Richard Eaton-Wells and Mark Wilson. The investors bought the island for $2 million in 2012.
Located 45 minutes from Airlie Beach and opposite Shag Island, Gloucester Passage is a popular destination for boaties to anchor in the area.
The property comprises 13 hectares of bush and sand and is lined by several hundred metres of clean sandy beach.
On the premises is a licensed bar, restaurants and self-contained cabins with 45 beds.
The popular resort just hosted the Whitsunday Tourism Awards.
Kim Griffiths at Mackay and Marina Real Estate has the listing.
Griffiths confirmed that no development work has been done. 
“One of the group decided he needed to tidy up his affairs so the rest of the boys just decided they’ll have to sell it,” Griffiths told the Courier Mail.
They’ve used the resort for family holidays over the years but not as much as they’d like to, according to Griffiths.
“The boys haven’t done any development work there,” he said.
“They were going to get a DA pending to do some more beachfront cabins but the boys, they lost their urge to develop.” 
<div>
“It’s a profitable business, a successful business as a well-regarded restaurant and weekend venue,” Griffiths said.
</div>
“On any Sunday a couple of hundred people will go to Cape Gloucester for lunch.”
The majority of interest so far has been from potential Queensland buyers with a sentimental attachment to the region.
“The boys are going to sell it,” Griffiths said.
“They’re not just putting feelers out there. 
“They want to sell it so they want to be approached.”
</body></html>

Whitsundays beach resort listed for $5.99 million

<html><body>
Multiplex has completed M&amp;L Hospitality’s makeover of 161 Sussex Street in Sydney's Darling Harbour.
The former Four Points by Sheraton Sydney was rebranded recently to Hyatt Regency Sydney, marking the Hyatt Regency’s return to Sydney.
The redevelopment included refurbishment of the existing hotel, a new 3,667 square metre convention centre and a 25-level tower including 13 new hotel levels and 10 levels of A-grade high rise commercial office space.
The additional 25-storey tower has added 222 new guest rooms to what was already Australia’s largest hotel, bringing the total number of rooms to 892.
A lot of construction took place over the top of the Western Distributor Freeway, a major feeder road from the Sydney CBD to the Sydney Harbour Bridge.
David Ghannoum, regional managing director at Multiplex, said a big challenge was building over an operating freeway and in a live hotel environment and care was taken to complete the works with minimal disruption to the 80,000 vehicles using the Western Distributor daily and the 600-700 guests staying at the hotel each night.
Work started in December 2014 and took two years to finish.  
</body></html>

Darling Harbour sees return of Hyatt Regency to Sydney

<html><body>
Commercial property sale in the Gold Coast fell in the three months to December 2016, according to CoreLogic's Cityscope.
The property data firm says 41 sales were recorded during the period for a total of $60 million.
Of this, $21.3 million was for commercial, $11.5 million was for commercial strata, $12.9 million was for retail, $5.9 million was for retail strata and $8.4 million was for other.
In comparison, the three months to late June 2016 recorded 53 sales for a total of $99.8 million.
Of this, $34.2 million was for commercial, $12.2 million was for commercial strata, $22.8 million was for retail, $5.4 million was for retail strata and $25.3 million was for other.
The latest data raises the 12 month total to over $587.2 million, over $202.8 million lower than the previous 12 month period.
The table below shows sales recorded for the past eight updates of Gold Coast Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Gold%20Coast-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Gold%20Coast-1.jpeg" alt="">
The three most significant sales recorded this quarter together totalled over $21.9 million:
<ul>
<li>KRG Centre, 9-15 Bay Street, Southport – a four-level office building with a cafe. Sold for $12 million to Lionsgate Income Fund No 1 Pty Ltd as trustee for the Lionsgate Income Fund No 1 Unit Trust. Kevin Lonard and Darrell Woodfield of First National Commercial Gold Coast negotiated the sale, which represented an initial yield of 8.3% on passing income of $996,000.</li>
<li>Windmill Centre, 130 Scarborough Street, Southport – a two-level office and retail building with frontages to both Scarborough Street and Windmill Street. Bought for $5 millionby Grand Southport Two Pty Ltd as trustee for the Lawson Unit Trust. Adam Grbcic and Tony Grbcic of Ray White Commercial GC South negotiated the sale, which represented an initial yield of 7.2% on passing income of $360,000.</li>
<li>Robina Professional Centre, 36 Laver Drive, Robina – a four-storey office building completed in late 2006. Bought for $4.925 million by RPA Properties Pty Ltd. Mason Kidman and Nick Selbie of CBRE Gold Coast negotiated the sale.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Gold%20Coast-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Gold%20Coast-2.jpeg" alt="">
Properties currently listed for sale include:
<ul>
<li>3286 Surfers Paradise Boulevard, Surfers Paradise – a single-level, 277 sqm restaurant building. For sale by negotiation; agent, Ray White Commercial Gold Coast (Simon Robertson).</li>
<li>8 Frigo Court, Bundall – a 2,429 sqm vacant block of land. For sale by expressions of interest; agent, First National Real Estate Surfers (Rob Rollington and Bob Rollington).</li>
<li>SteelX House, 2 Boston Court, Varsity Lakes – a four-storey office building comprised of three separate units. For sale by expressions of interest; agent, CBRE (Peter Court, Mike Walsh and Brad Duncalfe). The property was initially advertised with passing income of $1,276,140 per annum (net).</li>
</ul>
Properties currently under contract (conditionally or unconditionally) include:
<ul>
<li>46 Scottsdale Drive, Robina – a 4,719 sqm vacant block of land with approval to build the third and final stage of Easy T. Under contract; agents, Robina Marketing Australia (Marcus Weld) and Knight Frank Gold Coast (James Branch and Mark Witheriff).</li>
<li>Piazza on the Boulevard, 3197 Surfers Paradise Boulevard, Surfers Paradise – a four-level retail and commercial building. Due diligence is currently being conducted; agent, CBRE Gold Coast (Jonathan O’Brien and Scott Gray-Spencer).</li>
<li>1 Bellvue Drive, Varsity Lakes – RP1 Building, a three-storey, split-level office building. Under conditional contract; agent, CBRE Gold Coast (Jonathan O’Brien and Brad Duncalfe).</li>
</ul>
</body></html>

Gold Coast commercial property sales fell in quarter ended December: Cityscope

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