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Marquee Development Partners (MDP) will launch its fourth Gold Coast project two years after receiving development approval.
It is for 96 apartments on a riverfront site at Cannes Avenue, Surfers Paradise.
The project will be called Cannes, after the French Riviera-style architecture that will define the character of the building.
Cannes will be developed on a 2,339 square meter site, which is the largest absolute riverfront lot remaining between Broadbeach and Main Beach on the beach side of the river, and was held by the same family for more than 60 years before Marquee's acquisition in late 2019.
Cannes is expected to be launched to the market at the end of this month, with two, three and four bedroom apartments and penthouses, available priced from $554,900 to $2.2 million. 
Designed by award-winning DBI Design Architects, purchasers will have 14 floorplans to choose from, with apartments boasting top shelf finishes including induction stove tops, integrated Miele appliances, walk-in robes and 40mm stone.
Marquee Development Partners CEO Mark Spedding says Cannes is the result of years of actively scouting the Gold Coast for the right development sites. 
"We always walk the site and imagine what it would be like living there before we make an acquisition," he said.
"Cannes will occupy what is undoubtedly one of Surfers Paradise's best sites, tucked away in a quiet, leafy street, yet still just a short walk to the G:Link, nearby parklands and the beach just six minutes away. 
"To top it all off, there's a rooftop lounge and barbeque area with a fire pit, private dining and board room, billiards room and library, taking in 270 degree views of the city skyline, ocean, river and hinterland." 
 
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MDP launches Gold Coast project Cannes

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Dahua Group Australia has started civil and subdivision works on its $350 million 1881 Tullimbar development, located in the Illawarra region.
The site spans across 90 hectares.
Dahua purchased the land parcel from Miltonbrook in 2017.
The first residents are expected to move in early 2022, with completion of the estate expected in 2023.
A variety of land lot sizes from 450 to 850 square metres are currently available with prices starting from $220,000 to $518,000. House and land packages are priced from $590,000.
It will comprise 500 new homes.
Civil contractor Western Earthmoving (WEM) was awarded a contract for civil infrastructure and subdivision works for the first 149 land lots.
Kith Clark, Development Director for Dahua Group said it was their third major masterplanned community in New South Wales.
"It has taken us two years to reach this significant milestone.
“Many jobs are being created for local businesses before, during and after construction.
"WEM is one of the most experienced civil contractors in the Illawarra area with a strong track record in delivering exceptional masterplanned communities.”
“1881 Tullimbar is ideally situated to capitalise on the expanding Illawarra region. The project is within close proximity to major employment hubs, important transport links including the Princes Highway and extensive community facilities," he added.
1881 Tullimbar nestles Tullimbar Public School, Albion Park Shopping Centre is 2.7 kilometres and Shellharbour Square is approximately 10 kilometres.
Wollongong’s CBD is only 25 kilometres from the site and Sydney’s CBD is about 100 kilometres.
The development is surrounded by 10 primary, high and tertiary institutions, all within a 26-kilometre radius.
 
 
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Dahua Group begins work on Illawarra development

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EXPERT OBSERVER
The Urban Taskforce CEO, Tom Forrest, today urged the NSW Government to be bold in their plans for reform of the NSW planning system as new ABS data on housing construction shows that NSW has fallen far behind Victoria and risks sleepwalking into a recession.
Across Australia, the value of construction work on new housing in 2019 declined in New South Wales (-15.5 per cent), Queensland (-10.1 per cent), South Australia (-7.4 per cent), and Western Australia (-14.0 per cent). By contrast, the value of work done on new housing increased: by 0.1 per cent in Victoria, 5.4 per cent in Tasmania and 9.6 per cent in the Australian Capital Territory
NSW has the slowest planning system in the country for every single type of development application according to the NSW Productivity Commissioner, Peter Achterstraat. 
Today’s ABS figures show that in the final three months of 2019, the dollars spent on the construction of new housing in NSW plummeted, and that is before the impact of the bushfires, subsequent floods and the Corona Virus are taken into account. This resulted in a dismal decline in NSW new home construction for the year of 2019.
Today’s ABS figures are a wake-up call for the NSW Government.  The NSW economy needs a stimulus now with new Commonwealth and State funds urgently needed for infrastructure to unlock private sector investment in housing. 
Only increased supply will create downward pressure on housing prices. Rather than increasing taxes on new housing, the NSW Government needs to boost its own spending to unlock private sector investment.
I welcome Premier Berejiklian’s calls for major reforms to the planning system. 
Planning reform is urgently needed because the current planning system is allowing NIMBYs to wreck our economy.  Local groups have successfully pressured Councils and the NSW Government into opposing new housing and apartment development across Sydney. This has slowed up the process, reduced the number of approvals and will result in a shortage in new housing supply.
This downward trend started prior to the State election in 2018 and has gotten worse. This is now having a direct impact on GST revenue, stamp duty revenue, employment and investment.  If urgent steps are not taken to reverse this trend, housing prices will skyrocket while the economy tanks – a worst case scenario.
TOM FORREST is the CEO of Urban Taskforce
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Is NSW sleepwalking into recession? Urban Taskforce's Tom Forrest

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EXPERT OBSERVER
Australians as a whole expect prices to increase by only 3.9% annually over the next two years, according to Roy Morgan surveys conducted in January. This is a slight decrease of 0.1% on December, but down 0.3% on a year ago.
This is the lowest expectation of future price increases to start a year since the series began in 2010 and compares to price expectations of 6.6% annually over the next two years in January 2011.
Comparing price expectations by Federal voting intention shows the highest price expectations are held by those voting for Independents/Others at 4.4% annually over the next two years equal to those who can’t say who they would vote for – also 4.4%.
In terms of supporters of the major parties ALP supporters expect annual price increases of 4.1% over the next two years which is slightly higher than the national average of 3.9% and significantly higher than both L-NP supporters on 3.5% and also Greens supporters on 3.7%.
Roy Morgan’s Inflation Expectations Index measures what Australians believe the future trajectory of prices will be over the next two years. Every Australian brings a unique perspective to the anticipated movement in prices, including which prices are important to them in particular – whether that be food and drink prices, the price at the pump, prices for clothing and footwear, the cost of going to the footy, or prices for financial products, education, housing or transport.
Price expectations in January have dropped to only 3.9% and are now below the record low yearly average of 4% in 2019. Importantly, there are clear differences in perceptions of price increases between supporters of different parties. ALP supporters are the only major party supporters with price expectations above the national average at 4.1% whereas there are significantly lower price expectations for both Greens supporters (3.7%) and L-NP supporters (3.5%) that provide a significant drag on the overall index.
Inflation Expectations by Voting Intention: January 2020
<img src="https://meltwater-apps-production.s3.amazonaws.com/uploads/images/57312c304f003481ed1f1231/image_4679910221582605124165_1582605127519.png" width="525" height="342" data-imagetype="External">
Source: Roy Morgan Single Source: January 2020, n=4,052. Base: Australians 14+.
Price expectations again highest in Queensland and Tasmania, lowest in WA and NSW
There are significant regional differences for price expectations over the next two years. Those in both Tasmania (5.4%) and Queensland (4.4%) continue to have far higher price expectations than anywhere else.
Price expectations in South Australia (4.0%) are marginally above the national average whilst they are slightly below the national average in Victoria (3.8%), NSW (3.7%) and WA (3.7%). 
Inflation Expectations Index long-term trend – Expected Annual Inflation in next 2 years
Click <a href="https://meltwater-apps-production.s3.amazonaws.com/uploads/images/57312c304f003481ed1f1231/image_76785245631582605124167_1582605127842.png">here </a>to enlarge:
<img src="https://meltwater-apps-production.s3.amazonaws.com/uploads/images/57312c304f003481ed1f1231/image_76785245631582605124167_1582605127842.png" width="690" height="420" data-imagetype="External">
Source: Roy Morgan Single Source: Interviews an average of 4,000 Australians per month aged 14+ (Apr. 2010 – Jan. 2020).
January Inflation Expectations are based on personal interviews with a nationally representative sample of 4,052 Australians aged 14+. Price expectations in 2019 averaged a record low 4% across the year slightly beneath the previous low of 4.1% averaged throughout 2016 and the mark of 3.9% for January represents the lowest price expectations to start a year since the series began in April 2010.
MICHELE LEVINE is the CEO of Roy Morgan
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Inflation expectations much higher among ALP supporters than Liberal, National or Greens supporters: Michelle Levine

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EXPERT OBSERVER
We are continually being told that more of us are employed than ever before.
Reserve Bank Governor Philip Lowe points out (correctly) that a <a href="https://parlinfo.aph.gov.au/parlInfo/download/committees/commrep/cd2f4ebe-8e89-48fc-9d73-511ad37ff580/toc_pdf/Standing%20Committee%20on%20Economics_2020_02_07_7481.pdf;fileType=application%2Fpdf#search=%22committees/commrep/cd2f4ebe-8e89-48fc-9d73-511ad37ff580/0000%22">higher proportion</a> of us are in jobs than at any other time. Prime Minister Scott Morrison says an extra <a href="https://www.pm.gov.au/media/address-national-press-club">1.5 million</a> Australians have found jobs since the Coalition took office, 260,000 of them in the past year.
Yet in many ways the job market is weak, as unusually low wage growth and an uncommon reluctance to change jobs make clear.
A deeper look into the statistics provides clues as to why.
First, many of the extra jobs created have been part-time.
Part-time work, service industries
Over the life of the Coalition government between 2013 and 2019, total employment grew at an annual rate of 2% but the total hours worked increased at an annual rate of <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0">only 1.1%</a> – that’s about half the rate of 1.9% that hours grew during the Hawke/Keating Labor era.
It means the underemployment rate hasn’t come down as much as the unemployment rate.
In fact, it has risen. The proportion of workers who are underemployed – who would like to work more hours than they do – has climbed from 7.9% to 9.1% during the life of the Coalition government.
Over the same period the unemployment rate has fallen only a few points, from 5.7 to 5.3%.
The few industries in which hours worked have increased faster than the average have been <a href="https://cdn.theconversation.com/static_files/files/880/Employment_changing_patterns_table_1.pdf?1582611535">mainly service industries</a>, more likely than others to employ women.
The change in the distribution of industries has also been reflected in the a change in the distribution of occupations.
For both men and women, the proportion in blue collar, clerical and sales jobs has <a href="https://cdn.theconversation.com/static_files/files/881/Employment_changing_patterns_Table_2.pdf?1582611657">fallen over time</a>.
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Type of occupation by share of employment, men
<a href="https://images.theconversation.com/files/316995/original/file-20200225-24690-1uovak0.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/316995/original/file-20200225-24690-1uovak0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Shares of community &amp; personal service and sales are each under 10%) <a href="https://www.mup.com.au/books/fair-share-hardback">Source: Bell &amp; Keating, Fair Share, ABS 6291.0.55.003</a>
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The share of jobs that do not require a university degree has consequently fallen. The share that require higher skills has risen.
By and large, these changes in the distribution of jobs by industry and occupation and the growth of part-time opportunities has tended to favour women.
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Type of occupation by share of employment, women
<a href="https://images.theconversation.com/files/316999/original/file-20200225-24701-1hwlv97.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/316999/original/file-20200225-24701-1hwlv97.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Blue collar includes technicians and trades, machinery operators and drivers and labourers. <a href="https://www.mup.com.au/books/fair-share-hardback">Source: Bell &amp; Keating, Fair Share, ABS 6291.0.55.003</a>
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Many men now find themselves in jobs that don’t have good growth prospects.
It means that their job security is less than in the past and their bargaining power for higher wages is less than in the past.
In sum, the skewed distribution in where the jobs are being created suggests that many Australians, particularly men, are missing out. Highly educated men (and women) can still get good jobs, but in most industries and occupations, prospects are stagnating.
Risk averse workers
A likely consequence is that workers, and perhaps especially male workers, have become less keen to take risks, including the risk of asking to be paid more.
Another risk is attempting to change jobs. Job-switching typically leads to higher pay – not only for those who switch, but also, to a lesser extent, for those who stay as higher pay flows through.
Recent treasury research found that job-switching rates fell by about <a href="https://treasury.gov.au/sites/default/files/2019-07/2019-04_wage_growth_in_australia_lessons_from_longitudinal_microdata.pdf">2 percentage points</a> between 2003 and 2015 (the end-date of its data). It is very likely to have fallen since.
The treasury research found that each 1 percentage point decline in job-switching was associated with a <a href="https://treasury.gov.au/speech/s2019-396067">½ percentage point decline</a> in average annual wage growth – meaning the decline of 2 percentage points or more would account for a substantial part of the recent decline.
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Wage growth, annual
<a href="https://images.theconversation.com/files/317041/original/file-20200225-24664-54xsfn.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/317041/original/file-20200225-24664-54xsfn.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Annual change in total hourly rates of pay excluding bonuses. <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6345.0">Source: ABS 6345.0</a>
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Broad implications
The less fluid and less dynamic labour market might also be impacting the transmission of technological change and productivity growth.
Adoption of new technologies accelerates when workers switch to the most productive firms.
The treasury finds that the difference in employment growth between high and low productivity firms has fallen by <a href="https://treasury.gov.au/sites/default/files/2019-07/2019-04_wage_growth_in_australia_lessons_from_longitudinal_microdata.pdf">1½ percentage points</a> since 2012, the point at which productivity growth began to slow.
And declining confidence about job prospects might also be affecting political attitudes.
Today, the Labor Party no longer has the exclusive loyalty of workers. Instead, ever since John Howard targeted and gained the support of “tradies”, the Coalition has increasingly sought support from workers who feel less secure, both about their own jobs and also about the future more broadly.
Often these people respond to what they see as a loss of security and status by attaching themselves to strong leaders. They can become loyal to inherited values, and can be hostile to outsiders or change, viewing them as challenges to inherited values. They can mistrust experts, especially when the advice of those experts clashes with their inherited beliefs and what they see as their traditional way of life.
It is possible that Morrison won the last election because (like Trump) he appealed to people who felt they have lost security and status, and opposed change. He offered reassurance, partly because of his style, but also because of his resistance to change.
If Labor is to become competitive, it needs to develop policies that will restore confidence among workers that they have a good future. It isn’t an impossible task.<img src="https://counter.theconversation.com/content/132249/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/michael-keating-528224">Michael Keating</a>, Visiting Fellow, College of Business &amp; Economics, <a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a>
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/the-jobs-market-is-nowhere-near-as-good-as-youve-heard-and-its-changing-us-132249">original article</a>.
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The Australian jobs market is nowhere near as good as you've heard: Michael Keating

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GUEST OBSERVATION
Australia’s catastrophic bushfire season has done immense damage to Australia’s tourist industry. Then, just as heavy rain began to bring the situation under control, came the coronavirus outbreak in China – now the top source of international visitors to Australia. Tourism from China, already greatly reduced, ended with the ban on non-citizens travelling from China.
The general assumption has been that, once the immediate crises are over, Australia’s tourist numbers will bounce back.
Optimists point to examples such as Japan following the March 2011 earthquake and tsunami that killed more than 15,000 people, resulted in the <a href="https://www.iaea.org/newscenter/focus/fukushima" target="_blank">Fukushima Daiichi nuclear disaster</a> and forced more than 500,000 people to evacuate.
Tourism to Japan took a hit. International visits in 2011 fell 28%, to <a href="https://theconversation.com/making-it-safe-tourism-after-japans-earthquake-5691" target="_blank">6.2 million</a> from 8.6 million in 2010. By the end of 2012, however, numbers were back to more than 8.3 million. Tourism to the devastated Fukushima region took a little longer to bounce back, but by fiscal 2015 had recovered to nearly <a href="http://www.fukushimaminponews.com/news?id=709" target="_blank">90% of numbers in fiscal 2010</a>.
The same was true of the 2004 Boxing Day tsunami that wreaked catastrophic damage and killed an estimated 230,000 people in Indonesia, Sri Lanka, India, Thailand and other countries in the Indian Ocean region.
Terrorist attacks in major cities have a similar immediate impact on travel, but this soon dissipates.
There are, however, good reasons to think this time is different.
Unprecedented duration
First, most disasters of this kind have been single-day events. Relief efforts and damage assessments can dominate the news for a week or more, but other events soon take their place.
By contrast, Australia’s bushfire emergency ran for months, generating extensive worldwide coverage for much of this time. The COVID-19 outbreak epidemic is still front-page news and will probably remain so until it has been contained.
Second, the typical shock of this kind has no long-term effect on perceptions of the country where it takes place. The vulnerability of the Pacific Rim to earthquakes and tsunamis has long been known, and the occurrence of an earthquake in Japan does not make another one any more likely (if anything the opposite).
Similarly, terrorist attacks can and do happen anywhere. While there are countries where terrorism risks discourage most tourists – Afghanistan, Iraq, Nigeria and Syria being <a href="http://visionofhumanity.org/app/uploads/2019/11/GTI-2019web.pdf">the top four</a> – in most of the world no possible destination is more or less at risk than any other, and the risk remains even if you stay at home.
By contrast, the bushfire cataclysm has been unprecedented in terms of duration and the areas in southeast Australia destroyed. Sydney, Melbourne and Canberra were all cloaked in smoke.
The image of Australia as a clean, green destination for outdoor fun – promoted in an advertising campaign in Britain featuring Kylie Minogue even as the disaster raged – has been replaced by burnt-out landscapes where the next fire may be even worse than the last.
The Australian government’s handling of the issue has added to negative perceptions. International coverage of the bushfires has repeatedly mentioned the “<a href="https://www.washingtonpost.com/climate-environment/as-fires-devastate-australia-a-coal-loving-leader-faces-an-early-test/2020/01/08/a7827ebc-3178-11ea-91fd-82d4e04a3fac_story">coal-loving</a>” Australian government’s failure to deal with the fact its fossil fuel exports contribute to the conditions that make catastrophic fires more likely.
Washington Post <a href="https://www.bloomberg.com/opinion/articles/2020-01-06/bushfires-reap-what-australia-s-carbon-exports-have-sown">columnist David Ickling</a> put it like this:
"It’s a rude dose of reality for Prime Minister Scott Morrison, a former tourism-promotion bureaucrat whose lackadaisical, image-obsessed initial response to the fires has caused him to be lampooned on social media as #scottyfrommarketing."
"And yet a generation before Morrison came on the scene, Australia was already lying to itself and the world about its role in the climate change that has fuelled this disaster. If any goodness can sprout from the devastation of these fires, it will start with a more honest reckoning about how successive governments have sold off Australia’s future for a handful of coal."
Finally, the bushfires affected as many tourists as locals. The fires in southern New South Wales and eastern Victoria in particular trapped thousands of tourists taking Christmas-New Year holidays in normally pleasant seaside resorts.
This is not usually the case with disasters, with some exceptions. Most of the 202 people killed in the 2002 Bali bombings were tourists, for example, as were the majority of more than 4,000 people killed in Thailand by the Boxing Day tsunami.
Memories will fade over time, at least until they are rekindled by another disaster. But we should not expect this to happen quickly. The damage the bushfire catastrophe has caused to Australia’s position in the international tourism market is likely to last for years to come.<img src="https://counter.theconversation.com/content/131894/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/john-quiggin-2084">John Quiggin</a>, Professor, School of Economics, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a>
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/this-time-is-different-australias-tourist-numbers-may-take-years-to-recover-131894">original article</a>.
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This time is different, Australia's tourist numbers may take years to recover

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Developer Time &amp; Place has announced the sale of its East Melbourne landmark commercial project to ARA Australia in a structured deal worth approximately $330 million on completion. 
The partnership will see <a href="https://www.propertyobserver.com.au/timeplace.com.au/" target="_blank">Time &amp; Place</a> take responsibility for the development management and construction of the project, alongside joint venture partner Golden Age Group, with ARA to fund-through, manage and own the asset.
The deal is the latest in a string of fund-through arrangements in recent years as the commercial office market supply tightens while offering appealing capital returns for global investment managers.
Time &amp; Place commenced an expressions of interest campaign in conjunction with JLL in August 2019 which yielded significant interest from a range of local, off-shore and institutional groups.
Tim Price, Time &amp; Place founder and director, said the deal, which was finalised last week, reflected the current state of the commercial market and appetite from global investment funds.
“ There has been a significant trend outbound from the CBD by both tenants and institutional investors in recent years as lack of supply has shifted the focus to Melbourne’s CBD fringe.
“ This has presented an enormous opportunity for developers to capitalise on this scarcity by securing well-located sites and building premium-grade commercial assets literally on the CBD’s doorstep, that attract corporate-grade tenants and institutional long term owners.
“ We received an overwhelming response to the expression of interest campaign and are both pleased and proud to enter into partnership with a global powerhouse like ARA to fund and own the asset on completion” he said.
Commenting on the partnership, ARA Australia CEO and country head, Mr. David Blight said “we are delighted to be partnering with Time &amp; Place on this exciting project and look forward to commencing construction in the near future. ”The project is an outstanding ‘build- to-core’ opportunity. Together with our capital partner we look forward to funding the delivery and retaining the long-term ownership of this new, high-quality asset.
He said ARA Australia had been attracted to the project’s focus on sustainability and technology, the quality of the developer as well as its high-quality design by architects FJMT. He added that the project promised strong leasing fundamentals.
“While we’re a global business, our local team has an intimate understanding of the Australian markets – with low vacancy and limited quality stock coming on-line, 200 Victoria
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Parade represents a strong opportunity to secure a strategic foothold in a prestigious East Melbourne location,” said Mr Blight.
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The deal comes as Time &amp; Place has become increasingly active in the commercial and industrial sectors, having recently announced the MaxCap Industrial Opportunity Fund, and the acquisition of five prime industrial sites in Melbourne’s premium industrial areas with a sixth site under final due diligence in the sought-after Sydney market.
“ We are in an aggressive acquisition phase and actively seeking further commercial and industrial sites across the Melbourne fringe and outer growth regions, as we look to focus our attention on these sectors for the short to medium term,” Price said.
The 10-storey <a href="http://www.victoriaplace.com.au" target="_blank">200 Victoria Parade project</a> has been designed by renowned architectural studio FJMT. Comprising approximately 26,000 sqm of net lettable area, the project also includes world-class end-of-trip facilities, a sky terrace, expansive city views and a collection of retail, café and associated amenities.
Once completed, the office building will provide a focus on wellness, targeting a five-star Green Star office design, a 5.5-star NABERS (National Australian Built Environment Rating System) and Gold WELL rating by the International WELL Building Institute; including fitness and lifestyle amenities such as 160 bicycle spaces, 22 showers, 308 lockers and a bike repair station.
The deal will take immediate effect.
Leasing for the building is being managed by Colliers International. 
 
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ARA Australia takes on deal worth $330 million from Time & Place

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When commenting on property price drivers such as infrastructure, the largest of the lot is the Badgerys Creek Airport and surrounding development, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their values to give an educated outlook on the residential market in their service areas.
"This area will be transformed from cow paddocks and market gardens into a bustling metropolis aptly named the Aerotropolis," the valuation firm said. 
The report suggests one market to keep an eye on is the new unit market in the Parramatta local government area. 
A significant amount of new units are expected to be completed in the first half of 2020 and this will continue with up to 21,100 dwellings forecast to be constructed by 2023, most of these being residential units. 
"What we do know is that there is a large difference between forecast numbers and actual construction numbers as developers may hold off on construction to ride out lulls in the market, so we will wait and see how things unfold," the valuation firm stated. 
Traditionally, a large number of completions leads to more stock entering the resale market. 
Given the negative market sentiment surrounding new units over the past year, vendors must be prepared to meet the market in order to facilitate a sale.
<a href="https://www.propertyobserver.com.au/images/2020/2/10/western%20syd.jpg" target="_blank">Click here</a> to enlarge: 
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Western Sydney has seen a boom in granny flat construction over the past decade, with property owners taking advantage of larger allotments to build granny flats to add value and create a second income. 
"With interest rates at historic lows and the potential for five percent plus returns, we believe granny flat construction will continue to be a popular choice for investors throughout 2020," the valuation firm said. 
A recent example is <a href="https://www.realestate.com.au/sold/property-house-nsw-blacktown-132604830" target="_blank">24 Duckmallois Avenue, Blacktown</a> (pictured below), an older three-bedroom dwelling with a new two-bedroom granny flat at the rear, which sold for $757,000 in December, returning $800 per week in rent. This equates to a gross yield of approximately 5.5 percent.
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"The high growth seen in the last quarter of 2019 is unlikely to continue throughout 2020. Affordability will be a key issue.
"As household incomes are still under significant pressure, buyers will need to look to the outer suburbs in order to find affordable property. This will benefit the western suburbs of Sydney where there is still property at an affordable price point, relatively speaking," the valuation firm stated. 
Investors will be prevalent throughout 2020 with yield a big driver.
Prudent purchasers should keep an eye out for any infrastructure being built and get in before prices shift again.
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Western Sydney granny flat construction boom expected to continue in 2020: HTW residential 

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Sydney’s infrastructure boom is rolling on with the North Connex tunnel opening later this year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
"This tunnel will take five thousand trucks per day off Pennant Hills Road and reduce travel times between the M1 and M2. We believe the big winners will be the more affordable suburbs in the upper North Shore of Mount Colah, Berowra and Mt Ku Ring Gai," the valuation firm stated. 
These suburbs will have a greatly reduced travel time to the CBD and the M2 motorway.
"Keep an eye on the median house prices in these areas over the next few years," the valuation firm said. 
The report suggests the Northern Beaches market as a whole is expected to stabilise, barring any significant political or financial legislative changes.
"If 2019 taught us anything, it was how these two factors heavily contribute to underlying market conditions and overall market sentiment, particularly in the entry and middle sectors," the valuation firm said. 
How the Reserve Bank manages the Australian macro-economic issues will likely have the largest impact on the performance of the housing market, with housing stock levels anticipated to remain fairly low.
"We are anticipating blue-chip suburbs along the eastern side of Pittwater Road to outperform their western counterparts. Special areas of interest include Ingleside, Avalon, Warriewood Valley and Frenchs Forest," the valuation firm said. 
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The Ingleside Precinct Plan went back to the drawing board in 2019 and it will be interesting to see the revised plans that the council and New South Wales state government re-submit. 
Still a medium to long term prospect, but the progression of this area is something to keep an eye on in 2020, especially with the Mona Vale Road upgrades currently underway.
A five bedroom house in Ingleside is currently on the market with a price guide of $2.35 million.
The two storey brick veneer house is located at <a href="https://www.realestate.com.au/property-house-nsw-ingleside-131398374" target="_blank">240 Powderworks Road</a> (pictured below).
Nestled over 3,072sqm, the house comprises five bedrooms, three bathrooms, country style kitchen, and double lock up garage. 
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The report suggests there are many commonalities between Avalon and Byron Bay. 
The suburb has a unique vibe and has become really popular for young families, particularly from the eastern suburbs and lower suburbs of the Northern Beaches. 
Families are seeing value without compromising on lifestyle. 
The suburb had one of the highest auction clearance rates and we anticipate the suburb to continue to perform in 2020.
An Avalon Beach beach house was sold for $1.8 million in December, 2019.
The four bedroom, two bathroom holiday house is located at <a href="https://www.realestate.com.au/sold/property-house-nsw-avalon+beach-132589574" target="_blank">81 Riverview Road</a> (pictured below).
The weatherboard cottage features open plan with polished timber floors, expansive balcony and open fireplace. 
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The final land releases in Warriewood Valley, located off Warriewood Road, are currently on the market. 
The land sizes range mostly between 325 and 450 square metres and are around $3000 to $3500 per square metre.
 2020 is likely to be the last year where a large scale land subdivision occurs for quite some time.
Lastly, a key infrastructure milestone was completed in December 2019 with the excavation of the 1.3 kilometre long Warringah Road underpass finished. 
"The underpass will eventually provide more capacity for the thousands of daily motorists, ease current heavy traffic congestion and help reduce travel times. 
"We also expect to see a continuation of investment at both a private and public level around the $1 billion Northern Beaches Hospital." 
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Northern Beaches market expected to stabilise in 2020: HTW residential 

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The south, like the rest of Sydney, had a strong end to 2019 after a sluggish start to the year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
"We are expecting property prices to continue to increase in 2020 across all property types and price points. Current levels of stock on the market continue to be below average, although are likely to increase as the year progresses," the valuation firm stated. 
In the Domain Livable Sydney study released in November last year, a number of suburbs in the Sutherland Shire made it into the top 100 suburbs with Jannali (13th) and Sutherland (18th) mixing it with some very well-known prestige harbourside suburbs at the top of the list.
"Median prices in the Sutherland Shire region dropped more than the Sydney average during the decline, however there is already evidence that property prices have rebounded quickly since the federal election last May," the valuation firm said. 
A property at <a href="https://www.realestate.com.au/sold/property-house-nsw-jannali-129721090" target="_blank">21 Charles Place, Jannali</a> (pictured below) sold in May 2019 for $1.195 million after 187 days on the market.
The property resold in the same condition in November after just 11 days on the market for an undisclosed price slightly above $1.3 million, representing a 10 percent increase within a six month period.
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There still appears to be some good opportunities with a number of suburbs along the railway line having a median house price at or below the million dollar mark, according to realestate.com.au data. 
Engadine ($900,000), Sutherland ($962,000) and Loftus ($980,000) have median house prices below $1 million, whilst Kirrawee ($1,007,500) and Jannali ($1.010 million) sit just above that mark.
These suburbs already enjoy a railway station with travel times of less than 40 minutes to the CBD during peak times and longer term will benefit from Stages 2 and 3 of the F6 Extension, should they be given the green light by the New South Wales state government.
In the St George area, Riverwood ($879,000), Narwee ($985,000) and Arncliffe ($1.005 million) provide a similar opportunity to purchase near a railway station in this price range. 
Adjacent to Sydney Airport and the M5 Motorway and only 11 kilometres from the CBD, Arncliffe provides an affordable alternative to its neighbouring suburbs including Banksia ($1.065 million), Rockdale ($1,080,500), Tempe ($1,117,500) and Bardwell Valley ($1.15 million).
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The report notes the Sutherland Shire experienced a spike in new unit development completions over the past 12 to 18 months. 
This caused an oversupply of units, particularly along the corridor between Kirrawee and Caringbah, which put downward pressure on both prices and rents. 
In September last year, a two-bedroom, two-bathroom unit in a complex at <a href="https://www.realestate.com.au/sold/property-house-nsw-miranda-105528387" target="_blank">9 Urunga Parade, Miranda </a>(pictured below) sold for $700,000 after originally being purchased off the plan in April 2017 for $719,040.
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"Whilst this type of product does still need to be treated with some caution, the drop off in supply of new units currently under construction will allow demand to begin to catch up and we expect prices in this market to begin to improve in 2020 as well," the valuation firm stated. 
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South Sydney property prices expected to continue growing in 2020: HTW residential 

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

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ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

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For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

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Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

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Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

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Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

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Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

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The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

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The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

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Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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.

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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."

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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.

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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."

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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."

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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>.

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