<html><body>
Taxes, fees, levies and other government charges are "the lead in the saddlebag" for housing affordability, according to the Housing Industry Association's (HIA) chief executive – industry policy and media, Graham Wolfe.
“Housing affordability will not be addressed by political point scoring around negative gearing or capital gains tax,” he said.
“It’s a distracting and lazy debate and one where all three levels of government point a finger at each other, when it’s a fact that around 40% of the cost of a new home is taxation.”
“Increasing the supply of new housing is an obvious key to improving housing affordability.
“But retaining the enormous taxation burden on the cost of new homes is an anathema to addressing the problem.”
Wolfe is responsible for the lobbying group's policy development, media and advocacy functions and has been pushing the government to reform its taxation policies towards the industry.
“It’s the taxes and levies that are charged on every new home that overwhelmingly defeat all attempts to reduce housing costs,” he said.
“Yet housing, a basic requirement that all Australians should be able to access, is taxed more heavily than other parts of the economy.”
“State based stamp duty on the purchase of a typical new home alone adds a $91 per month burden on household mortgage repayments.”
“On average, families in NSW will pay considerably more – every month for the life of their home loan.
“Residential investment in housing has made a considerable contribution to arresting rental costs for thousands of families.
“Particularly in NSW where new supply has moderated rental increases over the past two years.”
</body></html>

j.ballantyne1990-6AQqhLzZaK

Property taxes are crippling housing affordability: HIA

<html><body>
A race for space is underway in Sydney’s office market, with limited supply and strengthening tenant demand pushing rental growth to a two decade high.
CBRE’s new Australian Office MarketView report highlights that Sydney’s CBD office market is on track to record its third consecutive quarter of growth and its strongest year in more than two decades.
In the three months to September 2016, prime rents lifted by 2%, while secondary rents increased by 8.3% - putting Sydney on track to match or exceed rental growth pre-GFC and its highest level of rental growth in more than 20 years.
CBRE advisory and transactions – office, regional director, Andrew Tracey, said Sydney CBD remained Australia’s most competitive office market – as demonstrated by the strong gains in rental growth year on year.
“The Sydney CBD remains fiercely competitive, underpinned by a real shortage of quality A and B grade alternatives and strong rental growth,” Tracey said.
“The fact that Sydney remains tightly held due to redevelopment of assets into alternative uses also continues to support rental growth.”
The report shows Melbourne was the only other office market nationally to record growth during the quarter, with prime rents lifting 0.5% in the period and 4.2% year to date in the Victorian capital. Meanwhile, secondary rents grew by 1.2% and 3.5% in the same time frame.
Tracey said Melbourne’s office market had witnessed rental growth off the back of strong employment levels and space absorption of 121,291 square metres in 2015.
“Rental growth in Melbourne has been assisted by withdrawal and sale of non-core secondary assets for future residential development site use and real growth in business,” Tracey said.
“This is combined with the attractiveness of continued relative rental affordability compared to alternative markets, with the city seeing the highest annual net absorption average nationally over the past 10 years.”
Vacancy rates in Melbourne’s office CBD currently sit at 7.0%, however this is expected to rise to 8.0% by the end of 2016 with the completion of new supply.
CBRE's associate director - research, Felice Spark, said vacancy was expected to contract however off the back of strong tenant demand.
“Looking ahead, Melbourne is forecast to see healthy levels of demand in the medium term, which will see vacancy ease to sub 6% by 2019. This in turn will see a continued outlook of rental growth,” Spark said.
The report highlights that almost four years of yield compression has pushed Sydney’s CBRE office yields to a historical, pre-GFC low – with potential to fall further.
In Q3, Sydney CBD core prime office yields reached a nine-year low of 5.2%, while secondary yields are 20 basis points off their pre-GFC low of 5.9%. 
<ul>
<li>Sydney</li>
</ul>
Sydney’s investment fundamentals remain compelling, with vacancy currently at 5.6% and expected to fall to 3.3% by 2018.
In tandem, prime growth is running at a 23% annual rate, which will further underpin growth in the market.
Spark said the strong rent growth could provide another leg to yield compression in Sydney.
“This, however, may be tempered by the mood in global property markets should interest rates tighten in the US and other countries over the course of the next year,” she said.
<ul>
<li>Melbourne</li>
</ul>
Despite falling vacancy in Melbourne’s CBD office market over the past six months, vacancy is expected to rise to 8% over the remainder of the year – driven by the completion of 110,000 square metres at Walker Corporation’s Collins Square development in Docklands.
With only 8,000 square metres of new supply due in the second half of 2017, vacancy is expected to return to circa 7% levels by the second half of 2017.
Further yield compression was witnessed in Q3, with prime yields now sitting at an indicative 5.6% and secondary yields at 6.2%.
Spark said there was growing sentiment among investors that yields were likely to stay lower for longer.
“Buyers who had previously held off purchasing under the assumption that we were at the peak of the cycle are re-emerging,” she explained.
<ul>
<li>Brisbane</li>
</ul>
Brisbane’s CBD office market is showing some signs of improvement, with net absorption returning to positive take-up in the six months to June this year.
This activity has been largely driven by state government expansion, a modest number of tenant relocations from the near city to the CBD and the steady filling of backfill space created by tenant moves to 480 Queen Street.
Yields remain firm off the back of strong demand from offshore investors for prime assets. The looming sales of Green Square South Tower and 324 Queen Street are expected to highlight the ongoing influence of offshore capital in the market.
<ul>
<li>Perth</li>
</ul>
A shift is underway in Perth’s office leasing market, with a rise in the number of tenants relocating from fringe and suburban locations – something not seen since before the mining boom.
While rents continued to decline over the quarter, the rate of contraction appears to be slowing.
Prime rents fell just 0.4% during the quarter, while secondary rents fell 1.2% during the same period. By comparison, incentives remained unchanged at 47.5%.
Office vacancy increased from 16.6% to 21.8% in the 12 months to June 2016.
Spark expects the second half of 2016 represents the peak of the vacancy cycle.
“A positive for Perth’s CBD office market is that the major supply shock has now passed,” Spark explained.
<ul>
<li>Adelaide</li>
</ul>
Challenging demand conditions, as well as the completion of two major office refurbishments, saw office vacancy rise to 15.8% in July 2016 – the highest level in 15 years.
Rising vacancy has underpinned a decline in rents, with prime rates down 5.1% year on year and secondary rents down 4.4%.
Spark said despite the softer occupier conditions, investor demand for assets remained strong.
“Over the past 12 months, prime yields have sharpened to 7.2%, while secondary yields remained steady at 8.9%,” she said. “The past several years have seen greater yield compression for prime grade stock as investors seek out higher performing assets which carry lower vacancy risk.”
</body></html>

Sydney CBD office market hits 20 year rental growth high: CBRE

<html><body>
Two inner suburban properties offered at recent auction by agents Gray Johnson have been purchased by developers proposing either townhouses or a mix of commercial and residential projects.
They are reflective of the strong current market demand for townhouse development sites in particular.
They were offered as surplus to the needs of a major corporate, with architectural conceptual plans prepared for potential developments.
The property at 570 Neerim Road, Hughesdale was auctioned as a vacant site with a developable area of approximately 590 square metres and a street frontage to Neerim Road of 15 metres.
Holding a general residential zoning, it sold at auction for $1,119,000 to a developer who will consider a townhouse project for the site.
Another property, known as part 101 Cape Street in Heidelberg, has a developable area of approximately 309 square metres with a frontage of some 17 metres to Sheffield Lane and holds a commercial 1 zoning.
It sold at auction for $1 million to a developer believed to propose a mixed use multi-level commercial and residential project.
Gray Johnson director Matt Hoath says that this property is in close proximity to Heidelberg’s primary retail and services strip along Burgundy Street.
This includes the Warringah Shopping Centre, with easy access to the Mercy Women’s and Austin Hospitals and the Heidelberg Station.
</body></html>

Two Hughesdale potential townhouse development site sold

<html><body>
A retail property in Paddington has been listed for auction.
Located at 3a Glenmore Road, the new three storey, double fronted retail building has been marketed as having "presence".
It was rebuilt in 2005 and offers 160 square metres of floor space over three levels.
The retail space takes two of the levels and the third is used as a storage and office space.
It is leased to SABA until February 2018 with a 5% annual increase, plus opportunities to further extend it for another five years with all outgoings paid by the tenant.
The auction is December 13 through Ray White agent Ben Vaughan.
</body></html>

Retail property on Glenmore Road, Paddington listed for auction

<html><body>
A Sydney Road site with redevelopment potential at Fawkner in Melbourne’s north has been sold by Ray White Commercial for $1.25 million.
The partially leased property at 1110 Sydney Road sold to an owner-occupier.
Ray White Commercial agent Brett Diston said the nine title offering was 1015 square metre in total.
"The rear factory facing Lorne Street is currently leased on a new three year lease with a further term of three years at $26,450," he said.
"The total building area on the site is approximately 290 square metres and the property is zoned industrial three."
The site is approximately 11 kilometre north of the Melbourne CBD and close to the Metropolitan Ring Road.
</body></html>

Fawkner corner site property sold for $1.25 million

<html><body>
A South Yarra retail property has been listed for auction.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-south+yarra-502178310" target="_blank">403 Chapel Street</a>, it has three street frontages with the opportunity for future cut up potential.
It has a four year net lease to a highly secure tenant with a net annual income of $208,000 with all outgoings paid by the tenant and a 4% fixed annual increase.
Surrounding the property are a number of residential developments, set to provide higher density, increased foot traffic and further demand for retailers.
The auction is on December 9 through CBRE agents Rorey James, Nic Hage and Justin Dowers.
</body></html>

Chapel Street, South Yarra retail property for auction

<html><body>
Parallel to the buoyant leasing activity, strong investment appetite from all purchaser categories resulted in high levels of transactional activity in the Melbourne CBD office market, according to Savills' latest report.
Melbourne CBD’s commercial office sales (&gt;$2 million) reached $2.15 billion in the 12 months to September 2016, with significant levels of capital chasing office sector assets.
The total sales achieved in the past year were 15 percent higher than the $1.87 billion that was transacted in the preceding 12 months.
According to IPD, Melbourne CBD office property returned a steady total return of 15.7 percent, at similar levels from a year ago.
However, Melbourne office property returns are trending above the five-year average total returns of 12.2 percent.
Historically low interest rates coupled with volatile global financial markets, led investors to select core office property as a solid investment asset class.
Investment yields firmed across Melbourne CBD’s prime and secondary assets over the past year.
"Savills expects this cycle to continue its momentum; albeit at a lower rate, with investment capital beginning to chase expectations of future NOI growth," the report stated.
<a href="/images/2016/11/16/Melbourne%20office%20sales.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/16/Melbourne%20office%20sales.jpg" alt="">
Market yields in the Melbourne CBD as at September 2016 are estimated to range between 5.25% and 6.25% for A grade buildings, and between 6.25% and 7.00% for secondary buildings.
Yield compression has been evident over the last twelve months, with yields for A grade assets having firmed by 83 basis points on average, whilst secondary yields tightened by 75 basis points.
Capital values in the Melbourne CBD as at September 2016 are estimated to range from $7,200 to $11,500 per square metre for A grade buildings, and between $5,000 and $6,550 per square metre for secondary grade buildings.
Average capital values for A grade properties have delivered an increase of 22 percent over the year.
<a href="/images/2016/11/16/Melbourne%20office%20CBD%20sales.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/16/Melbourne%20office%20CBD%20sales.jpg" alt="">
The Australian dollar has depreciated by 27 percent against the US dollar from its peak in March 2013, boosting property investment, especially from foreign investors over the past three years.
Foreign investors were the most active purchaser class for the period accounting for 65 percent of the total sales by value, well ahead of domestic institutions at 26 percent.
Private investors were the third largest purchaser category amounting to 7 percent of the sales by value.
The buoyant investment environment has continued to offer investors opportunities to rebalance their portfolios.
Currently there are three assets offered for sale in Melbourne’s central office market; ANZ world headquarters at 100 Queen Street.
RMIT Building by Selected Growth Properties and 50 Franklin Street owned by a group of strata owners, who have jointly put the building on sale.
<a href="/images/2016/11/16/Melbourne%20office%20CBD%20buyer%20profile.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/16/Melbourne%20office%20CBD%20buyer%20profile.jpg" alt="">
Joint sale by multiple property owners seeking to benefit from strong underpinning investor demand has been the latest trend in Melbourne’s property market.
The Melbourne CBD achieved 22 office sales, for the value of $2.15 billion in the 12 months to September 2016, up from $1.87 billion in the prior year.
In the most notable recent sales reported, Philip Lim purchased 380 La Trobe Street for $157 million from Invesco Asset Management, while Straits Real Estate sold 114 William Street for c.$175 million.
Other major sales for the last twelve months include; part shares in Southern Cross, a 43 percent share in Bourke Place, 161 Collins Street, 1 Collins Street and 120 Spencer Street.
<a href="/images/2016/11/16/Melbourne%20key%20indicators.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/16/Melbourne%20key%20indicators.jpg" alt="">
Rental rates reflect a net effective rent on a single, whole floor in the mid-rise of a building unless specifically otherwise stated.
Discounts and premiums exist for low and high rise space and for significant occupiers.
Victoria’s economy is expected to grow at 2.8 percent in 2016-17, highest amongst all Australian states and above the national average of 2.7 percent economic growth.
It is also forecasted to grow at a higher rate than the advanced economies (1.7 percent).
Tenant demand over the next year is expected to be driven by the sectors of Healthcare, Finance &amp; Insurance and Government, with the sectors forecast to grow at 6.0 percent, 5.4 percent and 4.1 percent respectively nationwide.
Melbourne CBD’s white collar employment grew by 11,600 workers from 2011 to 2016, and it is forecast to rise by another 36,000 workers over the next five years.
Growth in CBD white collar employment is expected to increase absorption of CBD office space.
“As tenant demand continues to improve, Savills expects pre-commitment led construction to drive new development activity over the course of the next two years,” the report stated.
Tenant migration to pre-committed stock is likely to affect backfill vacancy levels. As a result, rental growth is expected to remain below economic rents, with incentives still at play; albeit at lower levels.
“Whilst, leasing activity has been muted over most period (three quarters) of the past year in the central Melbourne market, largely attributed to low business confidence, Savills has recorded a recent uptick in the take-up,” the report stated.
Latest rebound in tenant demand led to the highest level of take-up recorded since September 2011 which is also above the five year average.
“Dun &amp; Bradstreet’s Business Expectations Index (the average of the survey’s measures of Sales, Profits, Employment and Capital Investment), increased to 17.8 for the fourth quarter of 2016, up from 12.3 in the previous quarter, and is 9.9 above the 10-year average of 7.9. Savills’ anticipates optimism in Business expectations to boost growth in tenant demand, resulting into higher level of leasing activity in the near term,” the report stated.
The RBA’s follow-up rate cut in August provided some support to Business confidence, lifting it from July 2016 (+4) to Aug 2016 (+6) and further sustaining it in September (+6). Current levels of confidence are consistent with the long-run average, as reported by NAB.
“Now with the conclusion of the federal election combined with Australia’s ‘safe haven’ status, Savills expects foreign capital flow to maintain its momentum, as market fundamentals continue to improve in domestic markets compared to overseas markets which are grappling from financial markets turmoil, Brexit and uncertainty led by upcoming US elections,” the report stated.
The amount of capital seeking investment opportunities is likely to further cause yield compression, though at a much slower pace.
Although, the limited availability of stock offered for sale is likely to impede record levels of investment activity from the recent past.
</body></html>

Strong investment in all categories in Melbourne results in high levels of transactional activity: Savills

<html><body>
Zeehan is the cheapest location in Tasmania to purchase a house, according to Investar’s recent market report.
The property investment firm says that the median housing price at Zeehan is $78,000.
This is followed by Queenstown at $89,000 and Rosebery at $94,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Bedrooms
</td>
<td valign="top" width="106">
Median listing price
</td>
</tr>
<tr>
<td valign="top" width="106">
Zeehan
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$78,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Queenstown
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$89,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Rosebery
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$94,0000
</td>
</tr>
</tbody></table>
An example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-tas-zeehan-123057818">5 Federation Court</a> (above) that is for sale for $78,000.
Similarly a three bedroom home at <a href="https://www.realestate.com.au/property-house-tas-zeehan-118622515">1 King Street</a> (below) is for sale for $80,000.
<img src="/images/2016/10/22/1%20King%20Street.jpg" alt="">
</body></html>

Zeehan takes top spot as cheapest suburb in Tasmania to purchase a house: Investar

<html><body>
Marketing entrepreneur Fergus Watts has bought a charming weatherboard homestead in Moorooduc on the Mornington Peninsula.
He paid $2.15 million for <a href="https://www.realestate.com.au/sold/property-house-vic-moorooduc-123314286">the six hectare estate</a>.
The bespoke period home was relocated from Geelong then extended with wrap around verandahs overlooking its rose garden and orchard.
The selling agents were Bowman &amp; Company agents Robert Bowman and Alex Campbell.
Watts, who play with the AFL sides, Adelaide Crows and St Kilda, returned to Australia after opening a new London office wanting a sea and tree change.
He says he has no daily requirement to go to the Bastion Collective office, his international management and marketing business. 
This article was first published in the Weekend Australian Mansion Australia property section.
 
 
</body></html>

Fergus Watts buys relocated Moorooduc homestead

<html><body>
Compulsory land acquisitions are set to begin for the expansion of Defence Field Training Areas around Townsville and Rockhampton.
It is as part of the Singapore-Australia defence agreement which will see the High Range Field Training Area upgraded to accommodate 14,000 Singaporean troops for 18 weeks every year.
The existing training areas can only accommodate a limited number of troops.
The Defence Department has written to landholders who may be impacted, with some landholders willingly sell their land during the next five years.
The Land newspaper suggests about 20 landholders are affected in the Townsville region acquisitions.
</body></html>

Townsville land acquisition begins for Defence training fields

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