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In the month of March, the import bill declined by $0.5bn, down by 1.5%, to $34.4bn. Weakness in the month was driven by volatility in transport equipment (both capital and consumer) - stripping this out, imports rose by 0.7% in March.
The export detail remains volatile, with temporary supply disruptions a factor. In the month of March, metal ores slumped by $1.2bn, largely as anticipated, as iron ore shipments were delayed by Cyclone Veronica. Coal exports rose by $0.8bn, on a rebound in volumes, while gold fell back by $0.6bn, off a high base.
For the March quarter, the ABS advise that the trade surplus widened to $14.2bn from $8.6bn in Q4, an improvement of $5.6bn.
<a href="https://www.propertyobserver.com.au/images/2019/5/7/trade%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/5/7/trade%201.jpg" alt="">
Key to this development was higher commodity prices, which boosted export earnings. The terms of trade increased in the order of 3% in the quarter, we estimate.
Export earnings in Q1 rose by a little over 3.5%, while the import bill actually shrank, down by 1.4%.
Our preliminary calculations suggest that: export volumes expanded modestly in the quarter, up by almost 0.5%, with a sharp rebound in gold off a low base a key positive; and imports were soft in the quarter, contracting by almost 1.5%, against the backdrop of patchy domestic demand across the private sector.
<a href="https://www.propertyobserver.com.au/images/2019/5/7/trade%202.jpg" target="_blank">Click here </a>to enlarge: 
<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/2019/5/7/trade%202.jpg" alt="">
On these preliminary calculations, real net exports likely added to activity in Q1, potentially in the order of 0.3ppts to 0.4ppts. This is an upside surprise to our forecast of +0.1ppt – albeit largely driven by falling imports (a sign of domestic weakness) rather than by strength in exports.
Such an outcome represents a turnaround from the December quarter 2018, when net exports subtracted 0.2ppts from activity as export volumes declined by 0.7%, dented by the impact of the drought and temporary disruptions in the resources sector.
<a href="https://www.propertyobserver.com.au/images/2019/5/7/trade%203.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/5/7/trade%203.jpg" alt="">
Key points:
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•In March, the trade surplus remained elevated at $4.9bn, only down a little from a record high of $5.1bn for February (revised up from $4.9bn).
•The March outcome exceeded expectations (market median $4.5bn and Westpac $4.2bn).
•Imports were the main surprise, falling by a further 1.5%, rather than rebounding by 1.0% as we anticipated.
•Exports fell but by somewhat more than anticipated, down by 1.8% v's a forecast -0.6%
•For the March quarter, the ABS advise that the trade surplus widened to $14.2bn from $8.6bn in Q4, an improvement of $5.6bn.
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Andrew Hanlan is senior economist for Westpac and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-hanlan/3/222/430" target="_blank">here</a>. 
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j.ballantyne1990-6AQqhLzZaK

Australia's trade account, surplus elevated at a near record high: Andrew Hanlan

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Artists John and Penny Smith have listed their Apollo Bay, Tasmania geodesic dome.
They designed the 77 sqm geodesic dome to be fully self-sufficient.
It has water views from its remote bush block on Bruny Island. 
It is a 10-minute drive from the ferry terminal.
The home runs on solar power.
It has a mezzanine sleeping deck, galley kitchen, outdoor barbecue area and wood fire oven. 
An adjacent shed provides additional accommodation. 
Charlotte Peterswald for Property are seeking $595,000-plus.
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Apollo Bay, Tasmania geodesic trophy dome listed

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GUEST OBSERVATION
Redundancies are attractive to organisations in crisis. Although the payouts cost money upfront, they can reshape the remaining workforce to make it leaner and more fit for purpose.
On the other hand they can demoralise that workforce, and they are far from good for the rest of the economy.
One alternative, available to the employers of as many as 6.6 million Australians for the next six months, is <a href="https://theconversation.com/that-estimate-of-6-6-million-australians-on-jobkeeper-it-tells-us-how-it-can-be-improved-137237" target="_blank">JobKeeper</a>.
Another is being tried with apparent success by <a href="https://www.domain.com.au/group/" target="_blank">Domain Group</a>, the real estate listings and journalism firm majority owned by Nine Entertainment Holdings, which also owns newspapers including The Age and The Sydney Morning Herald.
Domain, and the real estate industry in general, has been hard hit by plummeting listings and plateauing home prices.
Project Zipline
Because it is part owned by the public and listed on the Australian Securities Exchange, it has had to explain its approach to shareholders.
Its <a href="https://shareholders.domain.com.au/DownloadFile.axd?file=/Report/ComNews/20200427/02228319.pdf" target="_blank">April 26</a> announcement notes that about 45% of its cost base relates to staff and employee-related expenses.
“We had the option of taking the standard path of reducing hours, stand downs and redundancies, chief executive Jason Pellegrino explained on the <a href="https://www.domain.com.au/group/zipline/" target="_blank">Domain</a> website.
He chose another option: <a href="https://www.domain.com.au/group/zipline/" target="_blank">Project Zipline</a>
employees were offered the opportunity to participate in a share rights program whereby they could receive a percentage of their salary package over the next six months in share rights, or alternatively elect to reduce working hours
The target is a 20% reduction in staff costs, while retaining employee talent and "momentum for the long term”.
It’ll also help align the employees and the organisational interests.
Domain’s group director for employee experience, Rosalind Tregurtha says there has been a 90% take up of the options offered.
Sacrifices at the top
The executive leadership and board are <a href="https://www.mckinsey.com/business-functions/organization/our-insights/how-to-beat-the-transformation-odds" target="_blank">role modelling</a> by taking greater proportions of their own remuneration in share rights: 30% and 50%.
It has had to work quickly so the savings can start from May.
The work has included preparing information packs for managers and employees, briefing managers, asking employees to chose options, working with <a href="https://www.linkmarketservices.com.au/corporate/home" target="_blank">Link Market Services</a> to get offers out and processing the changes for the more than 600 employees on the payroll.
Zipline is a case study of an organisation working quickly with its workers to find a solution that works.
It mightn’t work elsewhere. Other options for businesses include
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<li>
offering greater work flexibility including shortened weeks and job sharing
</li>
<li>
freezing or limiting recruitment
</li>
<li>
restricting or banning overtime
</li>
<li>
increasing the scope of jobs
</li>
<li>
allowing employees to take accrued leave
</li>
<li>
directing employees to take unpaid leave under the government’s <a href="https://www.fwc.gov.au/industrial-action-benchbook/payments-relating-industrial-action/standing-down-employees" target="_blank">stand down</a> provisions
</li>
<li>
seeking voluntary redundancies
</li>
</ul>
It is important to consider, as Domain did, that while demand for their services might have slowed for a time, there is every likelihood that in the not too distant future things will pick up.
The firms that have done all they can to retain their industry knowledge and company experience will be the best placed for revival.<img src="https://counter.theconversation.com/content/137704/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/robyn-johns-159436" target="_blank">Robyn Johns</a>, Senior Lecturer in Human Resource Management and Industrial Relations, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/coronavirus-redundancies-are-understandable-but-there-are-alternatives-137704" target="_blank">original article</a>.
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Coronavirus redundancies are understandable, but there are alternatives

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A Meadow Springs, West Australia, mortgagee home is under offer.
Situated at <a href="https://www.realestate.com.au/property-house-wa-meadow+springs-133492046" target="_blank">22 Broadmoor Loop</a>, Tom and Andrea Esze of TomEsze.com are marketing the house.
Set on 521 sqm, the abode consists of four bedrooms, two bathrooms and garaging for two vehicles, with options for the home to accommodate multiple groups in a 2 bedroom each split.
Built in 2015, the marketing material describes the home as "two homes on the one title... with leasing options galore."
Last sold for $182,000, the home transacted in the pre its construction, in 2014.
The home was then marketed at $576,000 for two years running from 2015 - 2017.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
Learn more about Meadow Springs here.
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Meadow Springs, WA mortgagee home under offer

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EXPERT OBSERVER
Large falls in consumption-based spending post COVID-19 containment measures continued into May and across most industries (with some exceptions such as Construction), although the pace of decline looks to have stabilised.
Business payment inflows however have weakened further across most industries, and remain deeply negative in key parts of the economy (particularly Accommodation &amp; Food Services).
Consumption-based spending has stabilised in recent weeks, but is still down some 15% overall since the start of the year.
The rate of decline in spending has slowed in all states and territories, with the heaviest falls since the start of the year now in the ACT.
By industry sector, consumption spending over the year to date is down most in Administration &amp; Support Services, including Travel Agents (-88.9%), Accommodation &amp; Food Services (-56.0%) and Health Care &amp; Social Assistance (-40.3%).
Spending has grown in a handful of industries - Construction (28.3%), Utilities (7.2%) and Retail Trade (1.9%).
Some sub-industries have seen solid spending growth including Internet Publishing &amp; Broadcasting (39.9%), Construction Services (23.4%) and Gambling (22.4%). But some - Motion Picture &amp; Sound Recording Activities (-98.3%), Administration Services (-90.1%) and Other Transport (-88.2%) - are down heavily.
Business payment inflows into NAB merchants have also fallen sharply.
Business payment inflows into NAB merchants fell in May (-8.6%), after growing in the first 4 months of the year.
Inflows into Corporates were positive but have halved since April, and are falling for small, medium and large firms.
By industry, inflows are still falling most in Arts &amp; Recreation Services (particularly Amusement &amp; Other Activities and Sports &amp; Physical Recreation) and in Accommodation &amp; Food Services (particularly clubs), but at a slower rate. Inflows however rose sharply in Manufacturing (particularly in Pulp &amp; Paper Manufacturing).
ALAN OSTER is the NAB Group Chief Economist
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Large falls in consumption based spending continue into May: NAB's Alan Oster

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Regional property markets tend to be more resilient compared to their capital city counterparts due to being slightly more insulated from economic shocks, and many Local/State Governments prioritising regional areas growth over the past five years.
For first home buyers and investors, finding an affordable option in capital cities can be challenging. This is especially true as the state average loan only makes up between 51.9% (Sydney) to 76.1% (Brisbane) of the median house price in the capital cities.
The PRD Resilient Regional Areas report highlights affordable regional areas in QLD, VIC, NSW and TAS. These areas not only have median price affordability, but also provide strong indicators for property investment, local employment growth, and a sustainable economic future.
5 selection criteria were used to select the top 12 regional areas:
Affordability – the Local Government Area (LGA) has a median price below the maximum affordable property sale price (average state loan + 20% deposit). Property trends – to ensure statistical reliability, the LGA will have 20 transactions or more in 2018 and 2019, with positive price growth within that time period. Investment – to ensure solid investment opportunities, the LGA will have an on-par or higher rental yield than its capital city, as well as an on-par or lower vacancy rate compared to its capital city. Project development – the LGA will have a high estimated value of future project development, with a higher concentration of commercial and infrastructure projects to ensure a positive economic outlook. Unemployment rate – as of the December Quarter 2019, the LGA will have an on-par or lower unemployment rate than the state average, to ensure there is local job growth.
<div>Based on the above methodology and selection criteria, the following 12 regional locations were deemed to be ‘resilient regions’ with solid fundamentals for sustainable future growth.</div>
<ol>
<li>Douglas Shire (QLD)</li>
<li>Cairns Region (QLD)</li>
<li>Tablelands Region (QLD)</li>
<li>Livingstone Shire (QLD)</li>
<li>Upper Hunter Shire (NSW)</li>
<li>Singleton Area (NSW)</li>
<li>Greater Hume Region (NSW)</li>
<li>Greater Bendigo City (VIC)</li>
<li>Moyne Shire (VIC)</li>
<li>Bass Coast Shire (VIC)</li>
<li>South Gippsland Shire (VIC)</li>
<li>Kentish Municipality (TAS)</li>
</ol>
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Where are the most resilient regional areas in Australia? PRD Real Estate

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The number of homes scheduled for auction continues to trend lower, with only 365 auctions to take place this week, lower than the 480 auctions last week, according to CoreLogic data.
CoreLogic noted that while most states have lifted the ban on onsite auctions and inspections, it’s likely to take a few weeks before we see an uplift in scheduled volumes.
This is due to vendors and agents generally relying on at least a four week marketing campaign leading up to the auction event.
There are 110 Melbourne homes scheduled for auction this week, down on the 163 held last week.
Sydney is expected to be the busiest auction market for another week, with 167 scheduled auctions this week, down on the 216 held last week.
Brisbane &amp; Perth are the only capital city auction markets expected to see an increase in volumes over the week, with volumes lower across Adelaide and Canberra. Tasmania has no scheduled auctions this week.
The capital city final auction clearance rate came in at 59.9% last week, the highest final result seen since Mid-March.
<img src="https://www.urban.com.au/images/2020/5/14/CL%20May%2010.JPG" alt="">
Of the 395 results collected last week, 22% were withdrawn which was much lower than the 50% seen a few weeks ago, which is the main factor in the improvement of clearances rates.
The number of ‘sold prior’ results was also slightly lower this week, however still remain higher than we would usually see with 43.8% of properties selling prior to the scheduled date.
During this weekend last year there was a 65% clearance rate from 359 auctions held in Melbourne, according to the REIV.
The REIV is expecting about 130 auctions in 97 suburbs this week.
The highest volume auction locations this week are Craigieburn with 4 scheduled auctions. Mount Waverley, Lara, Albert Park, Coburg, Templestowe, Burwood East, Caulfield South, Mulgrave and Pascoe Vale follows with 3 listings in each.
An example of the auction volume in Craigieburn this weekend is 1 Yorkshire Terrace.
The three bedroom, one bathroom home is described as the ideal first house in the marketing material.
It comes with a price guide of $435,000.
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Auction volumes down despite restrictions lifting across multiple states

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Likened to an Australian-style Brady Bunch home, the Dwyer Street property has sold for $1,023,500 in an online auction.
The unique property at 49 Dwyer Street in Cook, resulted in the expected 31-hour online auction running 55 minutes overtime.
The property was the most-viewed ACT listing on realestate.com.au in the week to 23 April and has been among the top 10 most-viewed properties in the state for the past three weeks.
Selling agent Matt Sebbens, from Blackshaw - Belconnen, said the house was a standout in Canberra's market.
He said, "Bidding activity among the nine registered parties was subdued in the first 24 hours after the opening bid of $900,000, but there was a flurry of activity late on Friday."
"We were always really hopeful of getting around the $1 million mark so I was very happy with the outcome," Sebbens said.
It was the first time Blackshaw had used the timed online strategy to auction a property, which was staged via auction platform, AuctionNow.
Untouched since 1971, the five-bedroom, two-bathroom home is set on a 920sqm block and has 330sqm of internal living space as well as a 95sqm garage with parking for four vehicles.
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Standout 'Brady Bunch' style Canberra home sells in online auction overtime 

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A Hayborough, South Australia, mortgagee home has been sold after auction at $335,000.
Situated at <a href="https://www.realestate.com.au/property-house-sa-hayborough-132636578" target="_blank">16 Jade Court</a>, Ben and Rob Heaslip of SouthCoast Realty were marketing the house.
Set on 634 sqm, the abode consists of four bedrooms, two bathrooms and garaging for two vehicles.
The home is located in the Rise Estate, and is in close proximity to the recently developed of Coles, Aldi, Bunnings and Fleurieu Aquatic Centre.
It is a short drive to central Victor Harbor &amp; Port Elliot cafes, restaurants, beaches and other local amenities/general services.
Built in 2014, the marketing material describes the home as "a golden opportunity to renovate and improve."
Last sold for $146,000, the home transacted in the same year as its construction, 2014.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in Hayborough is $338,000 according to CoreLogic.
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Hayborough, SA mortgagee home sold after auction

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On-site real estate auctions will be able to go ahead from Wednesday after Victoria announced on that it would begin loosening restrictions.
Auctions will be limited to 10 people, plus the minimum amount of people required to facilitate the sale and those selling the house.
The same eased restrictions will apply to open for inspections, and real estate agents will be required to take the name and phone number of each visitor to make it easier to contact trace, similar to the recent changes in other states.
On-site auctions have been banned since March, when restrictions began. The lack of auctions has seen buyer activity plummet in Melbourne.
Victoria now joins NSW, Western Australia, Queensland and South Australia in announcing the easing of auction bans.
Agents have welcomed the news, but said they wouldn’t be rushing back into in-person auctions en masse.
Most agencies said they weren't in a rush to jump back into onsite auctions especially for properties mid-campaign but were going to shift offline soon.
Real Estate Institute of Victoria President Leah Calnan welcomed the Victorian Government’s decision to allow on-site property auctions and open for inspections to return to in Victoria with restrictions.
Both on-site property auctions and open for inspections will be restricted to 10 people in addition to staff required to facilitate the auction or inspection, the contact details of attendees will also be recorded.
REIV President Leah Calnan said the real estate sector was prepared to take the measures necessary to assist with a safe return to business.
“The real estate sector has adapted extremely well during this pandemic, while restrictions are being lifted, the threat of Coronavirus remains and it is imperative that we continue to run auctions safely and responsibly.” Ms Calnan said.
“The REIV encourages all members to download the COVIDSafe App and implement strong safety protocols as we begin our return to work routines. In addition, the REIV recommends that all individuals attending an open or auction should also download the App, provide contact details to the agent and follow social distancing measures as required.
“Online auctions have worked well over the last few weeks and we encourage members to use this as an additional channel for wider engagement.”
“Having public auctions will inspire increased confidence in our economy, auctioneers across the state are looking forward to getting back to what they do best”.
“We are very excited about auctions coming back, the real estate sector is prepared to do the right thing to ensure auctions and open for inspections are run safely.”
Meanwhile Real Estate Institute of Queensland head Antonia Mercorella told The Courier-Mail she was still seeking clarification from the state government over who exactly was included in its partial easing of restrictions for on-site auctions to 10 people.
“We are currently seeking clarity regarding the composition of the group – does it include or exclude the auctioneer, real estate agent and other support staff required to conduct an auction as well as the property owners?”
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Victoria lifts ban on onsite auctions amid loosening Covid-19 restrictions

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Staff reporter

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