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<p class="legacy">EXPERT OBSERVATION </p>
<p>Australia’s three-decade run of near continuous economic growth is set to end, with treasury warning of a hit to growth of “at least” 0.5% in the first quarter of this year, potentially followed by a “prolonged downturn”.</p>
<p>If it came to pass, treasury’s preliminary assessment would most likely mean economic growth vanished and went backwards for several quarters, producing what is commonly known as a “<a href="https://www.smh.com.au/politics/federal/the-really-lucky-country-talk-of-recession-as-australia-takes-world-record-20170601-gwiiwl" target="_blank">technical recession</a>” – two quarters or more in which income and spending shrink.</p>
<p>Providing the <a href="https://treasury.gov.au/speech/opening-statement-march-2020-senate-estimates" target="_blank">assessment</a> to a Senate estimates committee on Thursday morning, treasury secretary Steven Kennedy said the COVID-19 coronavirus would take “at least half a percentage point” from economic growth during the current March quarter and more beyond that.</p>
<p>In recent quarters economic growth has been about half a percentage point.</p>
<p><strong>Quarterly GDP growth</strong></p>
<p><a href="https://images.theconversation.com/files/318783/original/file-20200305-127918-160glbr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318783/original/file-20200305-127918-160glbr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a></p>
<p>Treasury’s preliminary estimate of a hit of at least half a per cent took into account only the direct impacts of the virus on tourism and education, and some exchange rate effects.</p>
<p>It did not take into account broader economic effects or the impact of the coronavirus on supply chains.</p>
<p>The half a percentage point hit to growth would come on top of a hit of 0.2% from the summer bushfires, most of which would be felt in the March quarter.</p>
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<p><em> <strong> Read more: <a href="https://theconversation.com/support-package-gains-shape-as-gdp-turning-point-swamped-132969">Support package gains shape as GDP turning point swamped</a> </strong> </em></p>
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<p>Dr Kennedy, a former nurse who retrained as an economist, stressed that the impact of the bushfires would extend well beyond the immediate hit to economic growth.</p>
<p>“Evidence from past episodes suggest bushfires can lead to long-lasting physical and mental health effects and destroy cultural heritage,” he said.</p>
<p>“Research by the University of Melbourne after the Black Saturday bushfires in 2009 found mental health problems continued for three to four years.”</p>
<p>The bushfires made clear the increased probability of such events in a world of climate change.</p>
<p>“The CSIRO predicts climate change will make bushfires more likely, as fire weather patterns worsen as a result of an increase in weather patterns with hot and dry winds and fuel becoming drier.”</p>
<p>Deeper, wider and longer lasting than SARS</p>
<p>As of Wednesday there had been 91,868 confirmed COVID-19 cases worldwide and 3,131 deaths, most in China. COVID-19 had spread to 77 countries.</p>
<p>When the virus first emerged in China in December, the treasury saw it through the lens of the 2002-04 Severe Acute Respiratory Syndrome (SARS) pandemic.</p>
<p>It was now clear COVID-19 would be different.</p>
<p><em>The impact of SARS took on a V shape, a relatively contained reduction in activity, mostly in Asia, followed by a quick bounce back.</em></p>
<p><em>The economic impact of COVID-19 is likely to be deeper, wider and longer when compared with SARS.</em></p>
<p><em>It will create more risk of a prolonged downturn, and fiscal support will be needed to accelerate the recovery of the economy, especially once the health and health management effects of COVID-19 begin to fade.</em></p>
<p>The first phase of the economic support package to be delivered next week would target assistance to the businesses and sectors most affected in order to keep people in jobs.</p>
<p>After that, support for aggregate demand (overall spending) would become more important.</p>
<p>“A very substantial part of the impact is actually confidence among consumers and the business sector because of the uncertainty,” Dr Kennedy said.</p>
<p>“Frankly, effective health management will be very important. The economy is actually quite solid. One of the key things will be to to explain to the community how well placed the economy is to manage such a short-term shock.”</p>
<p>The shock would last for some time but the economy would “recover on the other side”.</p>
<p>Keeping workers employed would be very important.<img src="https://counter.theconversation.com/content/133053/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;"><em></em></p>
<p><em><a href="https://theconversation.com/profiles/peter-martin-682709">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a></em></p>
<p><em>This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/economic-growth-near-an-end-as-treasury-talks-of-prolonged-coronavirus-downturn-133053">original article</a>.</em></p>
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j.ballantyne1990-6AQqhLzZaK

Economic growth nearing an end as Treasury talks of prolonged coronavirus downturn: ANU's Peter Martin

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<p>A Cranbourne West, Victoria mortgagee home has sold under the hammer for $473,500 early this march.</p>
<p>It came with a price guide of $460,000 to $500,000.</p>
<p>Darren Saxon of LJ Hooker is marketing the four bedroom, two bathroom property</p>
<p>Situated at <a href="https://www.realestate.com.au/property-house-vic-cranbourne+west-132964834" target="_blank">28 Bellbrae Crescent</a>, the home last sold for $330,000 in 2013 a making a loss on it's previous sale.</p>
<p>It sold for $365,000 in 2011.</p>
<p>Set on 641 sqm, the listing describes the home as a "fantastic first home or investment."</p>
<p><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></p>
<p>The median price for a house in <a href="/developments/cranbourne-west-vic-3977">Cranbourne West</a> is $516,277, according to CoreLogic data.</p>
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Cranbourne West, Victoria mortgagee home sold at auction

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<p>A Gosnells, West Australia home listed a mortgagee sale for $250,000 is now under offer following an unusuccessful two year campaign.</p>
<p>Originally listed for <span>$399,000 to $439,000 during the 2017-2019 marketing campaign, it is now being offered for $250,000.</span></p>
<p><span>Rick Rispoli of LJ Hooker is marketing the three bedroo, two bathroom house.</span></p>
<p><span>Situated at </span><a href="https://www.realestate.com.au/property-house-wa-gosnells-132472226" target="_blank">22A Bert Street</a>, the home last sold for $380,000 in 2015.</p>
<p>Set on 935 sqm, the listing described the home as "suited for the savvy investor/developer" as it is zoned <span>R30/R40.</span></p>
<p>Built in 1956, the home was listed as a rental seeking $220/pw in 2018.</p>
<p><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></p>
<p>The median price for a house in <a href="/developments/gosnells-wa-6110">Gosnells</a> is $276,000, according to CoreLogic data.</p>
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Gosnells, WA mortgagee home listed for $130,000 reduction in value under offer

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<p>In 2019, the Sunshine Coast property market was a tale of two halves, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes that the first half of 2019 saw a slow down on the back of the slowing Sydney and Melbourne markets, the effects of the banking royal commission and the lead up to the federal election in May.</p>
<p>Move ahead a few months and all these concerns appeared to be turned around. An election result perceived by the market to be favourable, improvement in the Sydney and Melbourne markets and passing effects of the Banking Royal Commission all led to an injection of confidence. The end of 2019 finished very well.</p>
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<p><span>"As always, the first quarter will be a good indicator on how the year will unfold. Should the Sydney and Melbourne markets continue to perform well, this will be a good sign for the coast market. </span></p>
<p><span>"Unfortunately, like 2019, 2020 has the dark cloud of not one but two elections looming. The local government election is set down for the end of March and the state election set for the end of October. Uncertainty always presents a challenge to the market," the valuation firm stated. </span></p>
<p><span>The report notes coastal areas with proximity to the beach are always highly sought after. The coast lifestyle is a major driving factor and there is no reason this will not continue. The coastal strip from Noosa to Caloundra in the sub-$800,000 price range is expected to continue to be in demand.</span></p>
<p><span>A beachfront three bedroom apartment in Caloundra was sold for $870,000 in February. </span></p>
<p>The apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-caloundra-132489390" target="_blank">415/10 Leeding Terrace </a>(pictured below) located right on Bulcock Beach. </p>
<p><span>It comes with master bedroom with ensuite, two bathrooms and two car spaces.</span></p>
<p><span><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/2020/3/9/caloundra%202.jpg" alt=""></span></p>
<p><span>"It is expected that the larger estates of Aura located to the south of Caloundra and the Harmony </span>Estate at Palmview will continue to generate good interest from both owner-occupiers and investors.</p>
<p>"We also expect to see good interest in the hinterland subdivisions in the railway townships such as Habitat in Palmwoods, with larger land sizes being the driver," the valuation firm said. </p>
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<p><span>There are a number of unit complexes under construction with some due for completion this year. </span></p>
<p><span>"From what we have seen, the majority of interest is in owner-occupier style units and complexes that directly target this market are going well. Smaller, investment grade units have been lagging, especially if they suffer from high body corporate fees making it difficult to make a return. The established unit product is also influenced by this," the valuation firm said. </span></p>
<p><span>The prestige markets across the coast have been operating at a number of different speeds. </span></p>
<p><span>The areas in and around Caloundra to the south and Mooloolaba and Maroochydore to the central parts of the coast have been turning over and have been pretty steady with some good prices. The headline continues to be the Noosa Heads region on the northern coast, which finished </span>off the year well with some record prices being recorded.</p>
<p>"An example of this is the recent sale of <a href="https://www.realestate.com.au/sold/property-unit-qld-noosa+heads-131831462" target="_blank">a Hastings Street beachfront unit, Unit 6, Noosa Court</a> (pictured below) for $9 million or $37,500 per square metre and this wasn’t even the best unit in the complex!</p>
<p><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/2020/3/9/noosa%20heads.jpg" alt=""></p>
<p>"We have initial reports of a beachfront unit that is under contract for circa $42,000 per square metre. This market is heavily influenced by the Sydney and Melbourne markets, so the improved confidence there has helped as well as ex-pat and international buyers becoming more active on the back of the weak Aussie dollar," the valuation firm said. </p>
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<p><span>The report notes the good news stories continue to be the considerable infrastructure projects underway that should attract new investment to the coast. </span></p>
<p><span>The Maroochydore CBD and Sunshine Coast Airport expansions have been moving along with the Sunshine Coast International Broadband Submarine Cable project dovetailing in beautifully. Providing Australia’s fastest telecommunications connection to Asia and the second fastest to the United States is an unbelievable opportunity for a regional centre.</span></p>
<p><span>"2020 is still expected to see some good activity across the residential market. Will it be as strong as 2019 is anyone’s guess given the two looming elections. There is one thing for certain - the Sunshine Coast appears to be positioned well for the future." </span></p>
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Sunshine Coast infrastructure projects continues attracting investors in 2020: HTW residential

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<p><span>As the Rockhampton and surrounding residential markets enter 2020, there is a feeling of optimism and increased confidence for the year ahead, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span> The report notes the close of 2019 saw increased sales activity, shorter selling periods and a firming of sale prices. In particular, well maintained and well-presented owner-occupied homes in sought-after suburbs have been leading the charge.</span></p>
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<p><span>Many agents are reporting a shortage of listings due to having sold the majority of their stock. For the first time in many years, buyers are feeling the pinch with stories emerging of some now starting to miss out on their first choice of homes.</span></p>
<p><span>"Vacancy rates reduced dramatically throughout the course of 2019 and are currently very tight. This has resulted in an increase in rents which we anticipate will hold firm during 2020," the valuation firm said. </span></p>
<p><span>"So, you ask, what’s driving the change?</span></p>
<p><span>"Well, we are now seeing significant government infrastructure projects coming to fruition, particularly Main Roads committing to major upgrades including the Gracemere duplication, Parkhurst corridor and of course the Rockhampton Ring Road which is now in the early stages of planning and resumption," the valuation firm said. </span></p>
<p><span>This combined with </span>a surprise federal election result in May 2019 gave Central Queensland a boost in confidence, particularly in the resource and mining sectors which have largely experienced improvements in production, and created new jobs throughout the latter half of 2019.</p>
<p><span>"In summary, all the key components are there for what should be a positive year ahead with firming conditions predicted in what is shaping up to be a recovery year for the region. After all, it has to be said that the past seven to eight years have largely been disappointing from a property and economic perspective." </span></p>
<p><span>A riverfront apartment in Rockhampton City has recently been sold for $650,000.</span></p>
<p>The three bedroom, two bathroom apartment is located at <a href="https://www.realestate.com.au/sold/property-unit-qld-rockhampton+city-132219102" target="_blank">901/58 Victoria Parade</a> (pictured below). </p>
<p><span>It features large balcony, stone kitchen and allocated two car basement parking. </span></p>
<p><span><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/2020/3/9/rockhampton%202.jpg" alt=""></span></p>
<p> </p>
<p><span>A current listing is a West Rockhampton three bedroom house priced at $350,000.</span></p>
<p>Located at<a href="https://www.realestate.com.au/property-house-qld-west+rockhampton-132806430" target="_blank"> 52 Pennycruick Street</a> (pictured below), the house comprises 3 bedrooms, open plan living and entertaining patio.</p>
<p><span>Other features include hardwood timber floors, ceiling fans and 3 street frontages. </span></p>
<p><span><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/2020/3/9/west%20rockhampton.jpg" alt=""></span></p>
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Rockhampton property market to recover in 2020: HTW residential 

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<p><span>Given the positive final quarter of 2019, the central Gold Coast area is anticipated to remain fairly buoyant throughout the first half of 2020, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>ask their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes sales activity spiked during September and October 2019 and local agents have reported that good levels of demand continued throughout holiday period for a broad range of property.</span></p>
<p><span>The stable market conditions in the Sydney and Melbourne property markets along with the low interest rate environment and easing of lending policy has given confidence to local buyers, particularly those seeking to purchase property priced in the higher price brackets. </span></p>
<p><span>"Burleigh Heads and Burleigh Waters remain hot spots, however more recently we have noticed good sales activity in the suburbs of Miami and in Sorrento (Bundall)," the valuation firm said. </span></p>
<p><span>A two bedroom beach styled dimples in Miami has recently been sold for $670,000.</span></p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-miami-125810922" target="_blank">2/10 Cantwell Court </a>(pictured below), it comes renovated bath and kitchen, indoor and outdoor living space and backyard. </p>
<p><span>Set on a 372sqm block, the house is only 900m away from Miami beach. </span></p>
<p><span><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/2020/3/9/miami%20.jpg" alt=""></span></p>
<p><span>The report notes it will be interesting to see how property will perform within the Isle of Capri (Surfers Paradise) over the year. </span></p>
<p><span>The Isle of Capri is regarded as one of the preferred residential waterfront areas within the established areas of the central Gold Coast, being within close proximity to the Surfers Paradise CBD. </span></p>
<p><span>A fairly large infrastructure project (road bridge upgrade) has commenced which aims to improve traffic flow through the locality (to and from the CBD area). The expected completion of the project according to local council is mid 2021.</span></p>
<p> </p>
<p><span>In </span>the meantime, residents are likely to be disrupted by the project due to increased traffic congestion caused by the ongoing road works.</p>
<p>"We will wait to see if the project has any significant impact on property sales in this pocket," the valuation firm stated. </p>
<p>A waterfront house in Isle of Capri was sold for $4.5 million in January. </p>
<p>The four bedroom, three bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-isle+of+capri-132828586" target="_blank">25 The Corso </a>(pictured below).</p>
<p>The home comes with indoor and outdoor living space, swimming pool, open plan gourmet kitchen and four car garage.</p>
<p><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/2020/3/9/isle%20of%20capri.jpg" alt=""></p>
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<p><span>The unit market may experience slightly tougher conditions in 2020 compared with 2019, according to the HTW residential report. </span>This market (particularly within Surfers Paradise and Broadbeach) is heavily reliant on investors from interstate and overseas.</p>
<p><span>With a good volume of new unit stock introduced in 2019 and more high density projects due to be completed this year on the central Gold Coast, there is some concern about a potential oversupply in this area. </span></p>
<p><span>"On a more positive note, general feedback from local real estate agencies suggests that demand for rental properties has remained firm and rental values are trending upwards," the valuation firm said. </span></p>
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Central Gold Coast market to remain buoyant in the early 2020: HTW residential 

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<p>Recent research conducted by Knight Frank's partner and head of research, Michelle Ciesielski observes a shift in the narrative from downsizing to rightsizing due to changes in the lifestyle trend towards apartment living.</p>
<h2>Trends to Monitor</h2>
<p>The 'Australian Prime Residential Insight 2020' outlines some of the trends that are expected to influence the rightsizer prime luxury market in the coming years. </p>
<h2>1. 'Active Retired' Transforming the Retiree Lifestyle</h2>
<p><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/2020/2/3/14_Active%20Retired%20Group.jpg" alt=""></p>
<p>Unlike past generations, the 'Active Retired' group hold a passport with many stamps, they are educated, willing to engage in smart technology and encouraged the change in definition for their next home purchase to 'rightsize' rather than 'downsize'. </p>
<h2>2. Baby Boomer Voice Growing </h2>
<p><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/2020/2/3/14_Baby%20Boomers.jpg" alt=""></p>
<p>The baby boomer group comprised 23.5 per cent of the Australian population in 2016, growing from 21.7 per cent five years earlier. </p>
<p>In 2020, the youngest baby boomer turns 56 years old and the oldest turns 74 years old. </p>
<h2>3. Under-Supplied Prime Suburbs</h2>
<p>The portion of three-bedroom and above dwellings due for completion by 2022 is increasing to 71 per cent in medium density, and to 18 per cent for high-density dwellings. </p>
<p>The next trend to watch is the total number of dwellings being completed with 47 per cent less medium-density dwellings due between 2020 and 22, compared to 2017 and 2019, and 30 per cent less being built as high-density dwellings. </p>
<h2>4. Collaborate, Community, Belonging </h2>
<p><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/2020/2/3/14_Collaborate.jpg" alt=""></p>
<p>More emphasis on creating agile collaborative zones within the amenities to ensure they carry significance to the residents and can be adapted for alternate uses at other times of the day. </p>
<h2>5. Clever Spaces</h2>
<p><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/2020/2/3/14_Crown%20Residences%202.jpg" alt=""></p>
<p>Source: <span>Crown Residences at </span><span><a href="https://onebarangaroo.com.au" target="_blank"><span>One Barangaroo</span></a></span></p>
<p>Drawing inspiration from the most exclusive hotels and residences from around the world will continue to nurture the redesign of luxury apartments and allow residents to be more agile and minimise ineffective space. </p>
<h2>6. Rise in Lateral Living </h2>
<p><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/2020/2/3/14_Lateral%20Spaces.jpg" alt=""></p>
<p>Source: Liverpool/ <a href="https://www.lateralestate.com/libertytower" target="_blank">Lateral Estate</a>.</p>
<p>Buyers are prepared to pay a premium for a lateral apartment, designed to span the entire floorplate offering the closest replica of a freestanding house in the sky, although with absolute privacy. </p>
<p>It can enable the most resilient security, with direct lift access, from the secured basement carpark, to the single-leveled residence. </p>
<h2>7. More Branded Residences</h2>
<p>With rapid expansion of over 400<a href="https://content.knightfrank.com/research/1617/documents/en/global-branded-residences-2019-5874.pdf" target="_blank"> branded residences</a> globally, a growing number of developers and hotel groups are looking to capitalise on this opportunity in Australia.</p>
<p><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/2020/2/3/14_branded%20residence.jpg" alt=""></p>
<p>Source: Branded Residence Report 2019/ <a href="https://content.knightfrank.com/research/1617/documents/en/global-branded-residences-2019-5874.pdf" target="_blank">Knight Frank.</a></p>
<p>A branded residence is traditionally a hotel-led development with integrated or linked residences. For instance, <a href="https://iconprivateresidences.com/category/luxury-developments/four-seasons" target="_blank">Four Seasons</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/aman" target="_blank">Aman</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/ritz-carlton" target="_blank">Ritz-Carlton</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/mandarin-oriental" target="_blank">Mandarin Oriental</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/oneonly" target="_blank">One&amp;Only Resorts</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/rosewood" target="_blank">Rosewood</a><span> and </span><a href="https://iconprivateresidences.com/category/luxury-developments/six-senses" target="_blank">Six Senses</a><span> are among the most active in the segment, others have aligned with luxury brands as diverse as Versace, Porsche and Armani.</span></p>
<p>They naturally benefit from the quality hotel brand, smooth management and luxury services. </p>
<h2>8. A Small World</h2>
<p><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/2020/2/3/14_Small%20World%20Qantas.jpg" alt=""></p>
<p>Source: 'Qantas flew non-stop from London to Sydney in less than 20 hours'/ <a href="https://www.qantas.com/travelinsider/en/trending/london-sydney-non-stop-long-haul-qantas-flight-project-sunrise" target="_blank">Qantas</a>.</p>
<p>Qantas tested its new 19-hour nonstop flight from London to Sydney in late 2019. This may be operational by 2022. </p>
<p>Improved connectivity has potential to reshape the second home market. This could result in an increased competition with offshore buyers, and encourage rebalancing property portfolios with Australians likely to buy more second homes abroad. </p>
<h2>9. Reducing space and footprint</h2>
<p><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/3_StockBreakouts/house-in-hands-july-31-brekaout.jpg" alt=""></p>
<p>More buyers and developers are becoming increasingly aware of the carbon footprint they leave behind for future generations. </p>
<p>This was revealed in the recent research conducted by Stockland Research. It was predicted that Australians have <span>a strong desire for more social connectivity and sustainable home features becoming standard.</span></p>
<p>Read more: <a href="/news/how-will-australians-live-over-the-next-decade-stockland-research">'How will Australians live over the next decade, Stockland Research'</a></p>
<p>They are committing to better sustainability practices and design for apartment living. </p>
<p> </p>
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Rightsizer prime luxury market trends to lookout for: Knight Frank

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<p><span>Recent s</span><span>tudies indicate that one in five Australians currently live in a multi-generational household.</span></p>
<p><span>Research also show that the trend is on the rise. While this was once the norm in many households, where the young help care for the older generation, the custom of multi-generational homes experienced a downturn in past decades.</span></p>
<p><span>There’s a strong trend towards multi-generational living, particularly in Sydney and its surrounds, where property prices continue to rise. And it’s happening in a couple of different ways with young people staying home longer, older generations sharing, and people looking for affordable investment opportunities.</span></p>
<p><span><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/2020/2/3/15_Multigenerational.jpg" alt=""></span></p>
<p>Dr Edgar Liu from UNSW’s City Futures Research Centre and author of '<a href="https://cityfutures.be.unsw.edu.au/research/projects/living-together-the-rise-of-multigenerational-households-in-australian-cities/" target="_blank">Living Together: The rise of multigenerational households in Australian cities</a>'<em>, </em>says research has found that more than half of people living in this arrangement do so due to financial reasons, while others do it for companionship.</p>
<p><span>Social contact is known to have positive benefits for both physical and mental health. Social interaction with others builds valuable relationships and gives us a deeper sense of belonging.</span></p>
<p><span>Leading home builder ANSA Homes has noted this trend and now offers a number of designs that</span><span> can be configured to be two homes under one roof, and even three homes under one roof.</span></p>
<p><span>ANSA Homes </span><span>Founder and Managing Director, Mark Maloney says “</span><span>there can be negatives if the actual dwelling isn’t suitable for multi-generational living like lack of privacy, noise transference, clashing of schedules in kitchens and bathrooms, lack of space and lack of independence.</span></p>
<p><span>“And while it would be great to able to build a separate granny flat in the backyard there often isn’t space for this option. We’re seeing a growing demand for new home designs that can accommodate several generations in their own private areas.</span></p>
<p><span>“We work closely with all our clients to understand the needs of the family and design a solution that suits the individual family. We believe it’s really important to understand that you don’t have to live in each other's pockets and the home can be independent.</span></p>
<p><span>“This trend also goes hand-in-hand with the trend towards knocking down an existing home and rebuilding. It </span><span>means you get to stay in the same neighbourhood but build a brand new home to suit the needs of all family members,” added Maloney.</span></p>
<p><span>Established suburbs often have larger blocks of land than the new outer suburbs making them ideal to build a large home that will accommodation several generations under one roof. And by pooling the family’s housing costs it becomes a very affordable option.</span></p>
<p><span>ANSA Homes has 14 multi-generational living designs that can be adapted to your needs with a house and granny flat in one.</span></p>
<p>An example of a multi-generational home is <a href="https://ansahomes.com.au/home-designs/house-and-granny-flat/lellah-39/" target="_blank">Lellah 39</a> where there is a total of six-bedrooms including a self-contained studio.</p>
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One in five Australians live in multi-generational households

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<p>A Nunawading warehouse office was sold by CVA's Jarrod Moran and Stan Dawidowski on February 26, 2020.</p>
<p>Located just off Whitehorse Road’s ‘Golden Mile’, the <a href="https://www.realestate.com.au/property/42-metropolitan-ave-nunawading-vic-3131" target="_blank">Metropolitan Avenue propert</a>y sold for $980,000 which far exceeded vendor expectations.</p>
<p>The four-week campaign attracted more than 65 enquiries with over 40 auction attendees and 7 bidders battling it out for this rare street fronting industrial facility.</p>
<p><span>The subject property comprises 283 sqm total floor area inclusive of 183 sqm high clearance warehouse with motorised roller door access, 100 sqm two level open plan air-conditioned office plus four allocated on site car spaces.</span></p>
<p><span>The warehouse last sold in 2016 for $750,000. </span></p>
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Warehouse office sold under the hammer in 'Golden Mile' precinct

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<p>A joint initiative of the Property Investment Professionals of Australia (PIPA) and CoreLogic has revealed the best performing locations for average annual capital growth in every city over the past decade.</p>
<p><span>The CoreLogic research found the city location with the highest annual capital growth in the nation over the past decade was Lakemba in the Canterbury region of Sydney, where house prices have increased by 8.4 per cent annually. Its median house value has more than doubled over the period to now be about $881,000.</span></p>
<p><span>The second place-getter was also in Sydney, this time in the Oatlands-Dundas Valley region of Carlingford, where house values grew by an average 8.1 per cent each year over the past decade. Its median house value has soared from $662,000 to $1.41 million over the past decade, according to the data.</span></p>
<p><span>Rounding out the top three, on 7.9 per cent annual average growth over 10 years, was Rockbank-</span><span>Mount Cottrell in Melbourne’s west </span><span>where its median house value has increased to nearly $600,000.</span></p>
<p><span>PIPA chairman Peter Koulizos said the national results showed a mix of affordable and prestige suburbs had performed well over the period.</span></p>
<p><span>However, the research also showed that locations within markets that were deemed subdued continued to record robust house value growth, he said.</span></p>
<p><span>“Even though Adelaide only recorded average annual growth of 1.3 per cent </span><span>over the past decade, its top performing location of Prospect saw prices increase by 3.4 per year </span><span>over the period,” Mr Koulizos said.</span></p>
<p><span>“L</span><span>ikewise, in Darwin, where prices reduced on average 1.9 per cent annually, in Rosebery-Bellamack median house values increased by 3.2 per cent at the same time.</span></p>
<p><span>“</span><span>This is actually quite common, because there are submarkets within markets which operate to the beat of their own drums, usually because of consistently strong demand from buyers keen to live or invest </span><span>in those locations.”</span></p>
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<p><span>The CoreLogic research also found that Sydney recorded the highest average annual capital growth over the decade at 5.5 per cent, followed by Melbourne on 4.9 per cent and Hobart on 3.4 per cent.</span></p>
</div>
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<colgroup>
<col>
<col>
<col>
</colgroup>
<tbody>
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<p><span>City location</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>State</span></p>
</div>
</div>
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<td>
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<p><span>Average annual 10-year growth</span></p>
</div>
</div>
</td>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Sydney</span></p>
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<p><span>NSW</span></p>
</div>
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<div class="layoutArea">
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<p><span>5.5%</span></p>
</div>
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</td>
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<div class="column">
<p><span>Greater Melbourne</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/0bc4b37d-2c82-49a7-9547-f42d67b0cec7" alt="page2image7120560" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>VIC</span></p>
</div>
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</td>
<td>
<div class="layoutArea">
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<p><span>4.9%</span></p>
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</td>
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<div class="layoutArea">
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<p><span>Greater Brisbane</span></p>
</div>
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</td>
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<div class="layoutArea">
<div class="column">
<p><span>QLD</span></p>
</div>
</div>
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<div class="layoutArea">
<div class="column">
<p><span>1.3%</span></p>
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</td>
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<div class="layoutArea">
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<p><span>Greater Adelaide</span></p>
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</td>
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<p><span>SA</span></p>
</div>
</div>
<img src="blob:https://www.urban.com.au/b4ef0a80-cbca-4dce-b872-3d581956a50b" alt="page2image7118320" width="34.680000" height="0.480010">
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1.5%</span></p>
</div>
</div>
</td>
</tr>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Perth</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>WA</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>-1.4%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Hobart</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/02c28a48-d80d-4008-8255-fd93ccc24120" alt="page2image7118544" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>TAS</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>3.4%</span></p>
</div>
</div>
</td>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Darwin</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/8de548a5-d64c-49b4-91f8-8ae9d20c2c7b" alt="page2image7130080" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>NT</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>-1.9%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Australian Capital Territory</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/6142c85e-8244-4a52-b03a-a2ed6e76ec25" alt="page2image7127392" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>ACT</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>2.8%</span></p>
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</div>
</td>
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<div class="column">
<p><span>Source: Corelogic.com.au</span></p>
<p><span>“The other capital cities recorded less than stellar average housing value growth </span><span>rates over the past decade,</span><span>” Mr Koulizos said.</span></p>
<p><span>“Annual growth of between 1.3 per cent to 2.8 per cent over the past decade </span><span>is part of the reason why so many investors and property investment experts are eyeing Brisbane, Adelaide and Canberra as potentially having the best capital growth prospects over the next 10-year period.</span><span>”</span></p>
<p><span>Darwin and Perth recorded negative annual growth over the period at -1.9 per cent and -1.4 per cent respectively, according to the research.</span></p>
<p><span>“</span><span>Investing in the housing market is typically a long-term strategy. Short-term movements are less important than the longer-term trends, which typically see housing values moving through a cycle where values will rise, fall and track sideways,</span><span>” </span><span>CoreLogic Head of Research Tim Lawless said.</span></p>
<p><span>“</span><span>The past 10 years has seen areas of Sydney and Melbourne outperform most other markets thanks to strong economic conditions and high rates of migration, which has fuelled housing demand, however, such high rates of capital gain have eroded housing affordability and compressed rental yields.</span><span>”</span></p>
<p><span>Mr Lawless said investors were likely to find that over the next 10 years the best performing markets are quite different.</span></p>
<p><span>“</span><span>Just as they were over the earlier decade where, for example, mining regions and regional coastal markets where some of the strongest performing areas,</span><span>” </span><span>he said.</span></p>
<p><span><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/2020/3/4/CoreLogic.jpg" alt=""><br></span></p>
<p><em>Source: CoreLogic.com.au </em></p>
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Best performing suburbs over the past decade: PIPA & CoreLogic

<p>Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.</p>

<p>The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.</p>

<p>The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.</p>

<p>The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" /></p>

<p>SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.</p>

<p>“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" /></p>

<p>The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.</p>

<p>Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" /></p>

<p>“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.</p>

<p>The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.</p>

<p>The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.</p>

<p>Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a></em></p>


Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.</p>

<p>The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.</p>

<p>The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.</p>

<p>SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”</p>

<p>The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" /></p>

<p>The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.</p>

<p>A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.</p>

<p>Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" /></p>

<p>The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.</p>

<p>Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.</p>

<p>The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.</p>


First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;</p>

<p>The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;</p>

<p>The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."</p>

<p>Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.</p>

<p data-end="950" data-start="653">Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.</p>

<p data-end="1522" data-start="1309">The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.</p>

<p data-end="1945" data-start="1716">The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.</p>
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<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.</p>

<p data-end="638" data-start="322">The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.</p>

<p data-end="864" data-start="640">Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.</p>

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."</p>

<p>“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.</p>

<p>“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.</p>

<p>“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.</p>

<p><a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


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