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Due to the decline of the mining sector in Perth, prospective buyers are unwilling to invest in property, according to WBP Property Group's latest report.
The downturn in the Western Australian mining sector has resulted in a "palpable" reduction of consumer confidence as individuals realise the impact of the unfolding crisis.
"Prospective purchasers are unwilling, and in some cases unable, to raise funds to purchase properties, the cautionary approach leading to uncertainty regarding the future direction of residential and commercial real estate markets in Perth and surrounds," the report said.
"This has led to a glut of sale listing in greater Perth and the Peel region, with data estimating around 14,000 home currently for sale, and a further 10,000 properties available for rent.
"This is clear evidence of softened market conditions, which dictates properties of all persuasions must be priced realistically to realise clearance," the report stated.
It suggested there is a high likelihood that property values could decrease further in the short- to medium-term.
“But, it’s not all bad news," the report stated.
"There remains sound demand and buyer activity in well-located inner city areas, particularly those in school catchment areas and near the river, and well-established older suburbs complimented by infrastructure, shopping and retail precincts."
In these areas property values range from $800,000 to $1,500,000.
It noted while value levels remain relatively flat, supply and demand are close to equilibrium.
Meanwhile, the apartment market in Perth is oversupplied, which will be further compounded as developments currently under construction come online over the next two years, many during the same period.
"Unsurprisingly, many properties purchased off the plan during the past 18 to 24 months are struggling to meet current market values," the report stated.
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j.ballantyne1990-6AQqhLzZaK

Mining sector decline detering Perth property market investment: WBP

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Greater Brisbane has shifted to better priced options compared to Sydney or Melbourne, according to Knight Frank's latest residential development report.
When Sydney and Melbourne were experiencing significant growth in turnover and value in higher density development sites in 2013/14, Brisbane was seen as a viable option for local and foreign investors priced out of these markets.
Since this time, the southern market has shifted with better priced options available in Australia’s two largest capital cities.
Brisbane CBD saw $16.1 million worth of residential sites suitable for higher density sold in the year to 30 June 2016, with an average indicative rate of $90,000 per apartment.
By 2022, Queen’s Wharf accommodating the new Brisbane Casino, and integrated resort, will breathe new life into the George Street sector of the CBD.
Together with the North region, a total of 29,280 apartments are projected until the end of 2019, with 9,560 currently under construction, 5,885 being marketed and further 13,840 were sitting with DA Approval as at 30 June 2016 (Figure 14).
<a href="/images/2016/12/01/Figure%2014.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Figure%2014.jpg" alt="">
The North region not only dominated the number of apartments projected, but development site sales volume in the year to 30 June 2016.
A total of $513.4 million was sold, with the average rate ranging from $40,000 to $105,000 per apartment (with an indicative average of $70,000 per apartment).
The region will benefit from proposed infrastructure such as the redevelopment of the Herston Quarter, an estimated $1.1 billion mixed-use precinct for health, residential, commercial and recreational activity due for completion by 2027.
The South region saw total sales volume reach $42.1 million in 2015/16 with an average sales rate per apartment of $30,000 to $95,000 (indicative rate of $60,000 per apartment).
<a href="/images/2016/12/01/Figure%2015.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Figure%2015.jpg" alt="">
Approximately 2,845 apartments are under construction in the South region whilst 1,535 are being marketed, potentially completed by December 2019.
Two key infrastructure projects in Greater Brisbane are the Qld Government’s Cross River Rail and Metro Brisbane projected by 2025. Both will play a critical role in ensuring rail and bus networks can meet the city’s future public transport needs.
Once the allocation of key sites along the route is determined and access to funding is sourced, both projects will provide a good injection of stimulus into the Greater Brisbane economy.
<a href="/images/2016/12/01/Brisbane%20high%20density.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Brisbane%20high%20density.jpg" alt="">
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Greater Brisbane's better priced property options for developers: Knight Frank

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Clearance rates remain steady across all major auction markets, according to CoreLogic’s weekly market report.
The property advisory firm says that CoreLogic collected results for 90 percent of the 3,403 capital city auctions which took place last week.
Last week was the second highest number of auctions held so far this year.
Despite the high volume, clearance rates held firm across the major auction markets, with Sydney recording a final clearance rate of 77.1 percent across 1,121 reported auction results.
The figures relate to November 27, not as the chart advised.
<a href="/images/2016/12/01/Capital%20city%20auction%20clearance%20rates.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Capital%20city%20auction%20clearance%20rates.jpg" alt="">
The largest auction market, Melbourne, recorded a clearance rate at 76.1 percent across 1,497 reported auction results.
Interestingly, the Hobart market reported the highest clearance rate at 80 percent, however with such a small number of auctions (five reported results), the statistics can be more volatile.
Next week is likely to mark the peak in auction activity as the market moves into the festive period, when we can expect housing market activity to quieten.
<a href="/images/2016/12/01/Number%20of%20homes%20for%20sale.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Number%20of%20homes%20for%20sale.jpg" alt="">
Listing numbers have accelerated over the last month of spring after the first two months saw listing numbers tracking lower than last year.
Over the 28 days to November 27, there were just under 50,000 newly advertised properties added to the market nationally, which is 2.7 percent higher than a year ago.
Across the capital city markets, 30,832 fresh property listings were added to the market which was 1 percent higher than a year ago.
With new listing numbers rising, total stock levels have also pushed higher, but remain 2.1 percent lower than a year ago nationally.
Across the capital cities, total advertised stock levels are now 2.4 percent higher than a year ago.
However the hottest housing markets (Sydney, Melbourne, Hobart and Canberra) are still showing stock levels to be lower than last year.
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National clearance rates remain steady despite high volume: CoreLogic

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The Inner South and North East regions of Melbourne had the highest auction clearance rate, according to CoreLogic’s latest weekly report.
The property advisory firm says that both regions had an auction clearance rate of 81 percent as spring turned to summer.
This is followed by the Outer East with 80 percent and the Mornington Peninsula with 78 percent.
<a href="/images/2016/12/01/Melbourne%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Melbourne%20sub%20regions.jpg" alt="">
The region with the lowest auction clearance rate was the Inner region where only 70 percent of the known 288 auctions were sold.
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Melbourne's Inner region had lowest auction clearance rate: CoreLogic

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Port Douglas is the top ranked Queensland localities where the median price for homes has been on the rapid improve, according to Investar’s market report.
The property investment firm says that in the past four years Port Douglas’ median price has increased by 17 percent.
This is followed by Coolangatta with 14 percent and Mountain Creek with 12 percent.
<table style="height: 122px; width: 479px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="54">
Postcode
</td>
<td valign="top" width="72">
Bedrooms
</td>
<td valign="top" width="106">
4 year average annual growth (%)
</td>
</tr>
<tr>
<td valign="top" width="106">
Port Douglas
</td>
<td valign="top" width="54">
4877
</td>
<td valign="top" width="72">
2
</td>
<td valign="top" width="106">
17%
</td>
</tr>
<tr>
<td valign="top" width="106">
Coolangatta
</td>
<td valign="top" width="54">
4225
</td>
<td valign="top" width="72">
3
</td>
<td valign="top" width="106">
14%
</td>
</tr>
<tr>
<td valign="top" width="106">
Mountain Creek
</td>
<td valign="top" width="54">
4557
</td>
<td valign="top" width="72">
5
</td>
<td valign="top" width="106">
12%
</td>
</tr>
<tr>
<td valign="top" width="106">
Nerang
</td>
<td valign="top" width="54">
4211
</td>
<td valign="top" width="72">
5
</td>
<td valign="top" width="106">
11%
</td>
</tr>
<tr>
<td valign="top" width="106">
Jacobs Well
</td>
<td valign="top" width="54">
4208
</td>
<td valign="top" width="72">
4
</td>
<td valign="top" width="106">
10%
</td>
</tr>
<tr>
<td valign="top" width="106">
Darra
</td>
<td valign="top" width="54">
4076
</td>
<td valign="top" width="72">
4
</td>
<td valign="top" width="106">
10%
</td>
</tr>
<tr>
<td valign="top" width="106">
Eastern Heights
</td>
<td valign="top" width="54">
4305
</td>
<td valign="top" width="72">
4
</td>
<td valign="top" width="106">
10%
</td>
</tr>
</tbody></table>
For the median price of $545,000 a buyer can expect to purchase a two bedroom home at Port Douglas such as the one at <a href="https://www.realestate.com.au/sold/property-house-qld-port+douglas-122923354" target="_blank">30 Limpet Avenue</a> (above) that was sold for $500,000.
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Port Douglas' median price has risen by 17 percent annually in the past 4 years: Investar

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A Hamilton Hill home sold for $5,385,000 at its recent auction, $1,265,000 over its reserve.
Built in 2011, the imposing five bedroom, five bathroom home on 607 sqm is set against a backdrop of panoramic river views and the city skyline.
The <a href="https://www.raywhite.com/qld/hamilton/1556823/?lang=en" target="_blank">four level home </a>with lift access to all levels features a number of private terraces, a self-contained guest wing, home theatre, swimming pool and rooftop terrace.
The home came with a reserve price of $4.1 million through Ray White Ascot agent Damon Warat.
It last traded for $2 million in 2008, before the house was built.
 
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Hamilton Hill home smashes reserve by $1.2 million

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There are slightly fewer auctions scheduled to take place across the combined capital cities this week, with 2,986 currently being tracked according to CoreLogic’s latest weekly market report.
The property advisory firm says that in both Sydney and Melbourne, the two major auction markets, auction activity will be down week-on-week, with 1,351 Melbourne auctions scheduled and 1,111 homes set to be taken to auction across Sydney.
Overall activity also remains lower than what was seen over the corresponding week last year.
Outside of Sydney and Melbourne, each of the remaining capital cities is set to see a higher number of auctions this week compared to last week.
The exception was Perth, where auction activity is set to remain steady.
<a href="/images/2016/12/01/Weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Weekly%20clearance%20rate.jpg" alt="">
Capital city auctions this week:
• Sydney: 1,111
• Melbourne: 1,351
• Brisbane: 188
• Adelaide: 156
• Perth: 59
• Canberra: 110
St Kilda in Melbourne is the busiest individual suburb for auctions across the nation this week, with 22 residential homes set to go under the hammer.
Reservoir (20), Mount Waverley (19), Craigburn and Glen Waverley (both 17) all of which are in Victoria will also have high numbers of auctions this week.
<a href="/images/2016/12/01/Capital%20city%20auction%20statistics.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Capital%20city%20auction%20statistics.jpg" alt="">
The number of auctions increased last week, recording the second busiest week this year, with 3,398 auctions held across the capitals, up from 2,987 the previous week.
The Capital city auction clearance rate remained strong last week despite the increase in auction numbers, final results show 73.0 per cent of auctions were successful.
Last week, Melbourne’s clearance rate was 76.1 per cent, down from 79.4 per cent the previous week.
While for Sydney, final results show that the clearance rate for the city fell to 77.1 per cent from 79.6 per cent the previous week.
Despite that, there were a number of sub-regions where clearance rates came in above the 80 per cent mark.
Across the smaller auction markets, performance was mixed last week, with clearance rates falling in Brisbane, Adelaide and Perth, but improving in Canberra.
The Hunter region was the busiest non-capital city region last week, with 60 auctions, however Geelong recorded the strongest clearance rate at 76.9 per cent.
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Sydney and Melbourne aucton market declines compared to last week: CoreLogic

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Apartment and unit owners in Victoria are being urged to be on the lookout for a new wave of crime aimed at the $1.2 trillion strata sector.
Recent reports have confirmed letterboxes outside apartment blocks have been targeted by criminals believed to be working for international crime syndicates, in a massive identity theft scheme.
And according to one of Australia’s largest body corporate management companies, it is a problem on a national scale.
Ace Body Corporate Management (Ace) provides body corporate management service to over 60,000 strata property lots nationwide.
They say cases observed by their team around the country, require a vigilant response from apartment and unit owners in Victoria.
Ace chief executive officer Stephen Raff said with the holidays fast approaching, we urge apartment and unit owners to do whatever they can to prevent letterboxes being broken into.
“We are about to come into a period where owners are away for days and weeks on end, leaving mail sitting in their letterboxes, and without a suitable response, the door is open for this issue to worsen.”
Letterbox theft has been a problem for years but NSW Fraud and Cybercrime Squad detectives say they have established direct links between international identity thieves and the large-scale theft of residential mail, and with several cases in hand of this being a national problem, Mr Raff urges authorities in all regions to give the issue proper attention.
“Stolen mail isn’t a new issue for property owners and police to worry about, but it’s the huge impact that identity theft can have in the digital age that should prompt swift action.”
“We put a call out for feedback within our team of body corporate managers around the country, and the response was astounding, as to the scale of the issue.”
“Managers in Melbourne’s Southbank precinct speak of ‘weekly’ occurrences of strange activities being caught on CCTV outside of their property’s mailboxes.
Team members in Perth are currently dealing with one building over 40 lots having their mailboxes secured after a recent break in and the list goes on.”
“There is no doubt in our mind that this should be priority number one for owners corporations in planning for the holiday period ahead, and we hope to see a real push towards seeing this issue investigated by police as well.”
Mr Raff says for an issue with such complicated links, the steps owners corporations can take are rather simple and being vigilant now will save the pain of crime affecting communities later.
“In terms of a plan the SAFER guidelines by Epsilon are the simplest and most effective ways for strata communities to protect their property and occupants from crime.
“Security audits, Adaptive design, Fool-proof planning, Efficient installation and Regular maintenance are the simple, affordable steps in this process and we encourage all communities to consider adopting this plan prior to the Christmas holidays.”
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Property 101: Apartment and unit owners in Victoria urged to boost securty due to email thefts

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Potential first home buyers can crack the market if they use the mindset of an investor according to Brenton Tidow, founder of Abakus Apps.
He said while it may take some time to restore the market balance, first home buyers, including young Australian’s in their 20s and 30s who are earning an average full-time income – can crack the property market if they are serious and approach the process with an investor mindset.
"It is concerning that an increasing number of first home buyers are now in their 40s," he said.
"For many buyers, the dream of purchasing a property may seem out of reach, and this is understandable as prices rise and competition intensifies.
"While the prospects of being a lifelong renter are very real, this does not need to be the case."
Brenton offers five tips for new buyers to use as a guide as they prepare to enter the market:
Start small
“I encourage new buyers to consider properties that are not their first, second or even third choice, and to look for properties that fit your initial budget – this could be $200k or $700k it doesn’t matter, as long as you buy with a strategy for growth," he said.
"While I advise buyers to purchase properties that they can see themselves comfortably living in, your first purchase is rarely your last. If you wish to enter the market and climb it, you may need to forgo some of your ideals about what a property should or shouldn’t have.”
Get serious about saving
“Regular saving can make a huge difference," he said.
"For instance, if you plan to purchase a property valued at $375,000, you may need to save around $500 each week for 24 months in order to have enough savings to pay a 10 per cent deposit plus cover any fees – such as lender mortgage insurance, stamp duty, and legal costs (which can cost $20,000 or more).”
Look beyond your horizons:
"To successfully find properties in your price range and in high growth areas, you may need to get comfortable searching for properties in areas that you would not usually live in, including properties in other cities and states on the cusp of growth," he said.
“I bought my first property in Wattle Grove in Perth in 2012 – a three-bedroom house and land package – for $380,000 and earned around $100,000 in equity in 12 months. I’ve also researched and bought into upcoming areas in Newcastle NSW, and the Sunshine Coast in Queensland. Sometimes you need to venture far from ‘home’ to find the right deal.
“Whether you plan to be an investor or owner-occupier, new developments in outer suburban areas can be very attractive for new buyers, and can also be a great stepping stone to your next property. If you’re looking to buy in and around Sydney, areas to consider are Mt Druitt or Newcastle."
Get your loan structure right:
"Getting your loan structure wrong can seriously hamper your ability to buy your first property – and any future ones," he said.
“This is why it is essential to speak to a specialised mortgage broker who understands property investment and who can advise you on the best way to structure a loan that fits your needs and your budget.
“Remember, banks generally lend between 80-90 percent of a property’s purchase price to a first time owner or investor, based upon the lender’s valuation of a property before granting a loan. With this in mind, I suggest buyers give themselves a financial buffer – which may require an additional $10,000 in savings or more. Ideally you want to have this buffer sitting there for as long as you have property. You never know when something unexpected may happen. You can place this money in a 100 percent offset account and reduce your interest paid each month."
Check your eligibility for first home buyer incentives:
"First home owner grants vary between states. For instance, in New South Wales and Victoria, you may be eligible for a $10,000 grant if you are buying or building a new home valued at up to $750,000," he said.
"In Queensland, depending on the date of your contract, you may be able to apply for a $15,000 to $20,000 grant to use towards buying or building a new house or townhouse.
“If buying property is a life goal, then make this a priority. Start saving and seek out a financial advisor and property mentor to get you started – it’s ideal to do this while you start saving, even if you don’t plan on entering the market right away.
“If you’re in your late 20’s or 30’s, don’t be embarrassed to share a house or find cheap rental options – maybe even living with family for a short time could be the answer to saving that deposit quicker. At the end of the day, paying large rent for someone else’s mortgage is only going to set you back from potentially paying for your own."
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A myth first home buyers can’t buy property in today’s market: Brenton Tidow

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Government grants and current low interest rates are helping first home buyers get into the Brisbane property market.
Alex Veal, Mint Residential Principal said more than 60 percent of the recent buyers at Vantage Lutwyche, have been new to the market.
"The increased First Home Owner Grant to $20,000 and stamp duty concession under $500,000 means they can purchase a new property with minimal savings and lock in an interest rate at circa four percent to give them certainty in payments at the front end of their mortgage," he said.
"When you add all those factors together, there really has not been a better time for purchasers to enter the market for some time - and they are increasingly recognising this."
Vantage Lutwyche fetures 55 one and two bedroom apartments across six residential levels, a 160sqm roof terrace and pavilion.
Buyers also get  a year's supply of coffee at local cafe Coddle and Co., an annual gym membership and quality blinds.
One bedroom apartments at Vantage Lutwyche start from $324,000 and two bedroom apartments from $439,000.
Loretta Reinke, and Hasitha Samaratunga, each purchased an apartment off-the-plan in Vantage Lutwyche
Ms Reinke said she was looking at apartments that were up to 10 years old, and they were no cheaper and offered a similar level of space.
"So I figured why not buy new, where I did not have to worry about how other people had treated the apartment," she said.
"The extra $20,000 I would receive for buying new was certainly very handy."
An on-site display is now open at the corner of Isedale Street and Lutwyche Road, Lutwyche between 4.30pm and 5.30pm on Wednesday, 10.30am to 12.30pm on Saturday or by appointment.  For further information call 1300 789 959 or visit <a href="https://www.vantagelutwyche.com.au" target="_blank">vantagelutwyche.com.au</a>
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Market conditions in Brisbane give first home buyers advantage

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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