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The ACT residential property market continues to be driven by high wages support by strong government employment and low general unemployment, according to a recent Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
 The public service accounts for 42% of the ACT’s total workforce which is heavily responsible for the strong $108,000 per year median income in the ACT. 
The report suggests the high median income keeps property prices on the high comparative to the rest of Australia. 
The median house price in Canberra currently sits at $691,000 (January 2020) compared to the national average of $809,000 (January 2020) making it the 3rd most expensive Australian city behind Melbourne and Sydney.
A four bedroom house in Gordon has recently been sold for $685,000.
Set on 525sqm, the <a href="https://www.realestate.com.au/sold/property-house-act-gordon-133438178" target="_blank">21 Rollins Place home</a> (pictured below) comprises formal lounge, informal living area, kitchen, four bedrooms and study nook.
It is located within walking distance to Point Hut Pond, playgrounds, schools, shops and transport. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/28/gordon%20.jpg" alt="">
 
Property under the $600,000 mark continues its popularity among first home buyers, which is likely to continue.
A current listing is a Harrison townhouse priced at $410,000.
The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-townhouse-act-harrison-133514782" target="_blank">159/22 Kings Canyon Street</a> (pictured below).
The townhouse features courtyards, galley style kitchen, large under stair storage and double enclosed garage.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/28/harrison.jpg" alt="">
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The weakening economy due to the Coronavirus pandemic makes short term conditions unpredictable.
 Strong government employment suggests that the ACT’s unemployment rate will remain low and the ACT local economy will remain stronger than other economies relying heavily on private sectors.
However market conditions are unpredictable and the unprecedented circumstances provide little guidance in what may happen in the near future.
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<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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ACT property market continues to be driven by strong government employment: HTW residential 

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It is not uncommon to see residential properties undergoing renovations throughout the inner suburbs of Sydney, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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The HTW report notes narrow laneways with skip bins and trucks parked on the kerb is an all too familiar sight for many older heritage style localities in suburbs such as Glebe, Surry Hills and Darlinghurst. 
"This trend has been evident for many years now and we expect it to continue into the future, even within this current COVID-19 pandemic," the valuation firm said. 
"One of the reasons we anticipate minor renovations to be evident in the short term is due to people being locked-up at home and looking for constructive projects to complete around the house which will serve many purposes such as increasing the presentation of their homes and also providing much needed stimulation throughout this lockdown period," the valuation firm explained. 
The report notes this could partially explain the continued demand and long queues at Bunnings Warehouse over recent weekends.
Even larger renovation projects have continued to be evident as owner-occupiers look to improve the value of their properties and engage builders and tradesmen at potentially reduced costs, at least in comparison to recent years.
A slowing construction sector, low interest rates and lack of supply in many locations and sectors are likely to encourage renovation projects in the near future.
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"Investment properties such as older style home units are also likely to see continued renovations as potential tenants are provided with greater choice at reduced asking rents," the valuation firm said. 
It will be imperative that investment properties are presented in the best possible condition, otherwise tenants will quickly choose a competing property in superior condition or alternatively demand a discounted rental price for any sub-par properties.
When renovating it is essential to understand the main goals for doing so, whether that be to sell, rent, or purely to renovate to personal taste to live in long term regardless of how this appeals to the local market.
A few significant aspects to consider when deciding to renovate are in relation to possible heritage restrictions, planning limitations, site access and the scope of works being carried out, the report noted. 
"We hear of many renovation success stories, however a significant part of this requires understanding the intended personal objectives of renovating a property and if renovating with the aim of selling for a profit, then timing of the market cycle (which can involve some level of luck) is important," the valuation firm said. 
"Some other techniques to ensure renovations are not overcapitalising is by focusing on what the local market desires most, researching recent sales of similar properties (on completion of the renovations) and then ensuring the cost to do the chosen works does not blow out your budget or exceed the market value of the finished product." 
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A recent example of a blank canvas property at <a href="https://www.realestate.com.au/sold/property-house-nsw-glebe-133206994" target="_blank">47 Wigram Road, Glebe</a> (pictured below), which sold for $1.86 million at an online auction on 4 April, almost $200,000 above reserve, indicates that there is still demand for this type of original property that requires a full renovation.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/glebe%201.jpg" alt="">
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Renovation trend continues in inner Sydney during COVID-19 pandemic: HTW residential 

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Winter may be setting in but lockdown restrictions are continuing to thaw, leading to a rise in auction numbers for this second weekend of June, according to CoreLogic data.
There are 1,179 capital city auctions being tracked by CoreLogic this week, increasing on the 711 auctions last week.
While volumes are expected to be the highest we’ve seen since mid-April, auction activity remains lower than what we would usually see, with 1,505 auctions held over the same week one year ago.
There are 561 Sydney homes scheduled for auction this week, up on the 398 held last week according to final figures, and higher than the 534 held one year ago.
In Melbourne, 467 auctions are scheduled across the city this week, increasing on the 195 auctions last week, however lower than volumes from the same week last year 724.
Across the smaller markets, scheduled volumes are set to remain steady across Perth, while the remaining cities are all expected to see a rise in activity over the week.
<img src="https://www.urban.com.au/images/2020/6/9/CL%20June%2011.JPG" alt="">
The Ray White Surry Hills | Alexandria | Glebe | Erskineville office is heading into the weekend with eight homes going under the hammer on-site.
Examining some highlights, Director Ercan Ersan said the converted warehouse apartment at C80/240 Wyndham St, Alexandria in The Hudson has had 100 groups through and 30 contracts given out.
“It’s the epitome of luxury inner city living designed by the celebrated architects at Allen Jack+Cottier,” Mr Ersan said.
“We’re expecting between 10 and 15 registered bidders and it should break the building record.”
Another standout is 4/11-33 Maddison St (pictured in title) in Redfern with Mr Ersan saying the apartment has one of the best renovations he’s seen.
“We’ve already got five people coming to the auction and it should sell at $1.4 million,” he said.
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Soaring Winter auction volumes as lockdown restrictions thaw

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A riverfront five-bedroom, four-bathroom house in Corinda was sold for $5.1 million through Adcock Prestige estate agent Jason Adcock. 
The <a href="https://www.realestate.com.au/sold/property-house-qld-corinda-129462306" target="_blank">Richmond Street residence</a> is a winner of The Master Builder's Association "Australian House of The Year" with a 39 metre river frontage and unobstructed views across the river to the parkland. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/27/16_Corinda%20Front%20.jpg" alt="">
The 3,633 sqm north-facing estate has two street frontages and surrounded by parkland and manicured lawns. 
The estate features high ceilings, glass walls, open plan living, dining and kitchen, and theatre room. 
Upstairs is the master ensuite with dressing room space, an island bath, chandelier, double shower, double vanity and huge river-view balcony. 
Below entry level is the home's wine cellar, multiple storage spaces and four car garaging equipped with Tesla charging facilities. 
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Award-winning riverfront house in Corinda sold for $5.1 million

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A mid-century modern era house in Cook, ACT has been sold for around $1 million after being offered to the market for the first time. 
The <a href="https://www.realestate.com.au/sold/property-house-act-cook-133435262" target="_blank">49 Dwyer Street</a> home was built by its vendors in 1971. 
The floorplan offers a 330sqm of internal living spreading over two levels. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/28/cook%202.jpg" alt="">
The lower lower comprises three bedrooms, bathroom, casual living area, and access to the cellar and four-car garage. 
The upper level comes with lounge with bar and balcony, master bedroom and adjacent dressing room. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/28/cook%203.jpg" alt="">
The home is located close to the Cook Shops, Jamison Centre and quality schools. 
It was listed by Matt Sebbens and Michael Braddon of Blackshaw Belconnen who scheduled online auction for the property on May 7 and May 8. 
According to internal Allhomes data, the property was the highest viewed listing* for the month of April, clocking up 12,876 views.
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1970s Cook, ACT home sold for over $1 million

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The Federal Court has ordered Quantum Housing Group Pty Ltd to pay $700,000 in penalties for making false or misleading representations relating to the National Rental Affordability Scheme (NRAS).
Between February 2017 and July 2018, Quantum sent a series of misleading letters and emails to at least 450 investors who had rental dwellings participating in the NRAS scheme, and pressured them to terminate their arrangements with their existing property managers and instead use property managers approved or recommended by Quantum.
Quantum failed to tell investors that it had commercial links with the property managers it recommended.
Quantum also told some investors that their existing property manager had not properly managed their property’s compliance with the NRAS, when this was not true.
“This conduct was blatant, planned and deliberate in an effort to trick investors into switching from their preferred property managers,” ACCC Chair Rod Sims said.
Quantum admitted that it falsely represented that property managers must meet accreditation guidelines issued by Quantum, and that investors who failed to appoint an approved property manager were in default of their agreement with Quantum and risked losing their NRAS incentives.
The Court also ordered Quantum’s director, Cheryl Howe to pay $50,000 in penalties for being knowingly concerned in Quantum’s breaches of the Australian Consumer Law. Ms Howe was also disqualified from managing a corporation for three years.
“The penalties ordered against Quantum and Ms Howe serve as a warning that making false or misleading statements will result in serious consequences not just for the company involved but also any executive or employee found to be knowingly concerned in the conduct,” Mr Sims said.
Quantum and Ms Howe admitted liability and made joint submissions to the Federal Court with the ACCC.
The ACCC had also alleged that the conduct engaged in by Quantum was unconscionable conduct. However, the Court found the admitted conduct did not depend on exploiting vulnerability on the part of investors, and in those circumstances was not satisfied that the conduct was unconscionable.
Quantum ceased trading in December 2019 and is in liquidation.
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Quantum Housing to pay $700,000 for misleading property owners: ACCC

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A Western Australian mortgagee home in Gosnells has been listed for sale with hopes of $215,000.
The three-bedroom, one-bathroom home includes a study and a stand alone carport.
Located at <a href="https://www.realestate.com.au/property-duplex+semi-detached-wa-gosnells-133721930">103A Wheatley Street</a>, the property is located close to amenities and was last traded for $128,000 in 2001. 
The listing is held by LJ Hooker's Rick Rispoli. 
The median price for a house in Gosnells is $275,000, according to CoreLogic data.
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Gosnells mortgagee home listed

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A mortgagee apartment in the Gold Coast's Surfers Paradise has been listed for auction.
The two-bedroom, two-bathroom home at 9/53 Darrambal Street includes a powder room, spacious open plan living and a private balcony.
Located on the ground floor of 'Modena on Chevron,' the two-level apartment boasts a huge courtyard and fantastic facilities including a swimming pool, gym and sauna.
Only a short 250 m walk to the heart of Chevron Island and 1km from the beach, the property is ideally located.
The property last traded for $595,000 in 2008.
The listing is held by PRD's Andrew Turner and the auction will be held July 4 2020.
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Two-level mortgagee apartment in Surfers Paradise set for auction

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Gold Coast waterfront land project, Serenity 4212, has reportedly amassed almost $30 million in sales amidst the COVID pandemic.
More than 40 per cent of the project’s first stage has been sold primarily to local buyers.
Thre complex was developed by Brisbane-based group Keylin and Kinstone.
Construction on the $650 million private, gated community commenced last month, and the project amassed more than 1200 inquiries prior to official launch and completion of site works.
“The sales rate has been absolutely astounding, particularly in light of the pandemic,” said Tony Ashwin, Director of Ashwin Property who is marketing the project.
Mr Ashwin said while there was some uncertainty about fielding enquiries during COVID-19, local buyers had been waiting a long time for the release of Serenity 4212.
“The developers did their research and knew of the limited waterfront availability in the area. At the same time local buyers have been looking for a chance to secure waterfront land, and Serenity offers them a final opportunity to do just this,” he said.
Serenity 4212 offers a wide range of housing lots, with reserve and waterview land from 500sqm to 1061sqm available and absolute waterfront land up to 1326 square metres on offer. Housing lots are available from between $489,000 and $1,290,000.
It will be designed by Form Landscape Architects and BDA Architecture.
The project is multi-staged and will also encompass retirement, retail and apartments in addition to townhouses, residential land and a marina.
Future stages of the project will include a mini-marina precinct and the Serenity Greens community which will offer 60 four-bedroom, two car space townhomes priced from $489,000 and averaging 200 square metres.
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Gold Coast's Serenity 4212 secures almost $30 million in sales

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EXPERT OBSERVATION 
Business conditions and business confidence remained deeply negative in May - despite a bounce from the extreme lows of April, when the nation was in a partial lock-down (particularly for “non-essential” workers). 
That was a key finding from the NAB business survey conducted from May 19 to June 1. The previous survey was taken from April 23 to 30. 
Business conditions rose from -34 to -24 in the month. That is still below the low point in the GFC, of -16.5, but above the 1990s recession low of -39. 
This bounce in conditions occurred as restrictions started to ease and the economy slowly reopened, albeit a reopening that is uneven across sectors and across states. 
Business confidence, having collapsed to a never before seen low of -65 in March, has clawed its way back to be around “recession levels” in May, at -20. That compares to the lows in the past cycles of, -30 during the GFC and -23 in 1990. 
Clearly the situation remains fluid and fast moving. The continued easing of restrictions in June will see a further bounce in business conditions. 
Even so, the detail of this report - which was weak to very weak - highlights that a return to business as usual is still some way off. 
Forward orders were extremely weak for a third consecutive month, at -29, showing only limited improvement from the -35 recorded in April.
Considerable space capacity has emerged in the wake of this economic recession, with capacity utilisation at 74.5 in May. That is up from an extreme of 71.9 in April but compares to around 82 during the second half of 2019. 
Against this backdrop of excess capacity, continued sharp falls in new orders and an uncertain outlook the business sector is downbeat on hiring and investment the survey finds.
The detail around business conditions for May was: trading conditions rose from -31 to -18; profitability moved from -35 to -19; while employment showed very little improvement, edging up from -34 to -31. 
The capital expenditure index rose from -32.7 to a still very weak -21.6. The path of retail spending and business investment spending will be very different as the economy reopens and recovers from this recession. 
By state, NSW is outperforming, with business conditions lifting to -13 as the state reopens earlier than in some other jurisdictions. Across the other mainland states readings for May were: Victoria, -25; Qld, -27; SA, -33; and WA, -35. 
By industry, business conditions rebounded in retail, which has begun to reopen on an easing of social distancing measures.
Across other sectors, conditions are mixed, reflective of the staggered re-opening and the challenges created by the pandemic and the recession. Recreation &amp; personal was still deeply negative at -37 with many venues yet to re-open. The finance, business &amp; property industry group was also deeply negative, stalling at around -27. 
Andrew Hanlan is an economic analyst at Westpac
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Business conditions still deeply negative despite bounce: Andrew Hanlan

Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

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The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

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For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

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“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

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McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

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Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

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From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

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Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

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The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

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Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

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