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Residential property prices fell an average of 3% across all eight capital cities in the March quarter, according to the Australian Bureau of Statistics.
It was up from the 2.4% property price decline in the previous three months of 5.4%.
Every capital city saw falls in property prices, with Sydney posting the sharpest fall of 3.9%, and Melbourne at 3.8%, the report said.
In Adelaide, property prices fell 0.2%, and in Hobart, prices dropped 0.4%, making for the first property price falls in the two state capitals in at least six years.
In Darwin, residential property prices fell 1.8%, and in Brisbane, they dropped 1.5%.
That was followed by a 1.1% decline in Perth, while in Canberra prices retreated 0.9%, the ABS said.
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j.ballantyne1990-6AQqhLzZaK

Every capital city saw residential property prices fall in March quarter: ABS

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GUEST OBSERVATION
Wind towers are getting taller. 
Former Australian Greens leader Bob Brown <a href="https://www.theaustralian.com.au/nation/politics/greens-exposed-as-bob-brown-baulks-at-turbines-in-his-backyard/news-story/04b617906ce5e77e3a13dd4ddef0ddd0" target="_blank">made headlines</a> this week after he <a href="https://www.bobbrown.org.au/tarkine_updates_090719" target="_blank">objected to a proposed wind farm</a> on Tasmania’s Robbins Island. The development would see 200 towers built, each standing 270 metres from base to the tip of their blades.
Leaving aside the question of the Robbins Island development, these will be extraordinarily tall towers. However, they fit right in with the current trend for wind turbines.
Wind turbines come in many designs, but the most common is the so-called “horizontal axis” kind, which look like giant fans on poles. This type of turbine is highly efficient at turning the energy in the wind into electrical energy.
Keen observers will have noticed that these turbines have been gaining in size over the years. In the 1990s, wind turbines typically had hub heights and rotor diameters of the order of 30 metres. Today, hub heights and rotor diameters are pushing well past 100 metres.
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<img src="https://images.theconversation.com/files/284464/original/file-20190717-147288-lhxlyc.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
(Source: The Conversation &amp; Shutterstock)
Bigger is better
When it comes to wind turbines, bigger is definitely better. The bigger the radius of the rotor blades (or diameter of the “rotor disc”), the more wind the blades can use to turn into torque that drives the electrical generators in the hub. More torque means more power. Increasing the diameter means that not only more power can be extracted, but it can be done so more efficiently.
Larger and longer turbine blades mean greater aerodynamic efficiency. Creating more power in one turbine means less energy is lost as it is moved into the transmission system, and from there into the electrical generator. The economies of scale provide an overwhelming push for wind energy companies to develop larger rotor blades.
Wind turbines are also growing taller because of the way wind travels around the world. Because air is viscous (like very thin honey) and “sticks” to the ground, the wind velocity at higher altitudes can be many times higher than at ground level.
Hence it is advantageous to put the turbine high in the sky where there is more energy to extract. Hilly terrain (like a mountain ridge) may also distort the wind, requiring engineers to design the wind turbines to be even taller to catch the wind. Wind turbines used offshore are generally larger and taller because of the higher levels of wind energy available at sea.
Typically, onshore turbines (most common in Australia) have blades between 40 metres and 90 metres long. Tower heights are usually in the range of 150 metres. Offshore turbines (those situated at sea and common in Europe) are much larger.
Offshore turbines are typically much larger than onshore towers. 
One of the largest wind turbine designs in the world, General Electric’s offshore 12-megawatt <a href="https://www.ge.com/renewableenergy/wind-energy/offshore-wind/haliade-x-offshore-turbine" target="_blank">Haliade-X</a>, has 107 metre blades and a total height of 260 metres. As a comparison, Sydney’s Centrepoint tower is 309 metres tall.
If the Robbins Island turbines are indeed built to 270 metres, as reported in the media, they would eclipse General Electric’s behemoths. I cannot speak to the likelihood of this, but I would assume engineers will have to select the best turbine for the prevailing wind conditions and existing infrastructure.
Challenging heights
The quest for bigger and taller turbines comes with its fair share of engineering challenges.
Longer blades are more flexible than shorter ones, which can create vibration. If not controlled, this vibration affects performance and reduces the life of the blades and anything they are attached to, such as the gearbox or generator.
Materials and manufacturing techniques are constantly being refined to create longer, and longer-lasting, turbine blades.
The longer the turbine’s blades, the more pressure is put on internal mechanisms. 
Taller turbines generate more power, which puts greater loads on the gearbox and transmission system, requiring mechanical engineers to develop new ways of converting the ever-increasing torque into electrical power. Taller wind turbines also need stronger support towers and foundations. The list of challenges is long.
As turbines grow, so too does the noise they make. The dominant source of noise occurs at the outer edge of the blades. Here, turbulence caused by the blade itself creates a “hissing” sound as it passes over the trailing edge. More noise is created when the blade chops through atmospheric turbulence in the wind as it blows into the tower.
Noise isn’t just a matter of size. If one turbine is placed in the wake of another, the sound of its blades passing through the highly turbulent air created by the upstream turbine will be very loud.
Keeping noise under control requires inventive solutions, such as borrowing ideas from nature: the silent-flying owl uses serrated feathers to control noise and these are now being used to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/scienceshow/studying-owls-to-improve-aircraft/5913516" target="_blank">make noisy turbines quieter</a>.
Of course, engineering challenges are not the only considerations for creating wind farms. Environmental effects, noise, visual impacts and other community concerns all need to be considered, as with any large infrastructure project. But wind turbines are one of the most <a href="https://theconversation.com/wind-and-solar-cut-rather-than-boost-australias-wholesale-electricity-prices-119979" target="_blank">cost-effective</a> and technologically sophisticated forms of renewable energy, and as the developed world comes to grips with climate change we will only see more of them.<img src="https://counter.theconversation.com/content/120492/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;">
Con Doolan, Professor, School of Mechanical and Manufacturing Engineering, UNSW.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/taller-faster-better-stronger-wind-towers-are-only-getting-bigger-120492" target="_blank">original article</a>.
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Taller, faster, better, stronger: wind towers are only getting bigger: Con Doolan

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Construction has commenced on Gurner's $540 million Saint Moritz development at St Kilda.
The project will transform the former Novotel St Kilda site.
Demolition of the existing building commenced on July 17, some 15 months ahead of schedule.
The project secured $500 million in presages including reports of an arrangement involving a $30 million two-level, 650 square metre penthouse sale to former Domain boss Antony Catalano in February.
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The developer has confirmed ANZ is funding the $300 million construction debt facility.
Gurner suggest is ranks as the largest residential construction loan undertaken by the big four banks to a private developer this year.
ANZ has funded over 90% of Gurners’s projects since the brand’s inception in 2014.
Local builder Crema Group has been appointed to build the three-tower, 'ultra-luxury' precinct, with the build contract worth upwards of $150 million.
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Only five residences remain for sale in the final building, Grand Esplanade, while the first two buildings, Pacific House and Azura, are fully sold.
Saint Moritz has been designed by Fender Katsalidis and Koichi Takada Architects, with the interiors crafted by David Hicks.
Completion is slated for late 2021.
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Construction starts on Saint Moritz development at St Kilda Novotel site 15 months early

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GUEST OBSERVATION
The agreement by Building Ministers to establish a national approach to the implementation of the Shergold-Weir Report will assist the building industry, governments and the community to move forward with greater certainty and provides a significant recognition that a nationally consistent approach to improve community confidence in the building system is needed.
Whilst each state needs to take on board the recommendations of the Shergold-Weir report in a way that suits their existing regulatory frameworks, it is important that the end result after implementation will essentially be to deliver a consistent approach to the way buildings are approved, to the way building professionals are held responsible and to providing greater certainty for building owners.
HIA called on Ministers to include in this approach consideration of the current disjointed professional indemnity insurance arrangements with a view to ensuring that once implemented building professionals can move back to a situation where they can obtain affordable and appropriate insurance coverage.
National guidance is needed to limit the introduction of exclusions which go beyond combustible cladding.
HIA was pleased to once again be part of the Industry Forum with the Building Ministers, and we look forward to the Ministers releasing more details on the national approach and an ongoing dialogue.
Kristin Brookfield is HIA Chief Executive Industry Policy.
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Agreement on national approach to combustible cladding building reforms an important step: HIA

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The billionaire apartment developer Harry Triguboff is expanding to Canberra.
It comes after buying his first site in Melbourne.
Triguboff told The Australian he expects the upswing in buyer interest to continue, saying it kicked off with the change of government and removal of Labor’s threat to wind back negative gearing tax breaks.
During the housing market downturn Meriton retained many of its completed units taking Triguboff's personal investment portfolio to more than 9400 apartments.
Triguboff’s portfolio is split equally between serviced apartments and leased units.
His hotel arm expanded in the slower market.
“It’s no good selling if the market doesn’t want to buy,” Triguboff told The Australian.
He is surprised at how quickly the market has rebounded — from selling five units a week in January to about currently around 30-35 a week.
The inner workings of his business empire has been revealed by The Australian after the lodging of financial accounts with the corporate regulator by the Meriton company.
Meriton made a pre-tax profit of $485 million in the 2018 financial year, according to its recent accounts lodged with the Australian Securities &amp; Investments Commission.
Meriton’s revenue reached $1.84 billion.
It made a net profit of $340 million after paying $145 million in company income tax.
It was down from the previous year when Meriton made $384 million net profit from $1.79 billion revenue.
Triguboff did not take any dividends.
The Meriton accounts noted “although the residential selling market continues to be stagnant, both rental markets and serviced apartments continue to be in strong demand and underpin revenue increases for 2019”.
Meriton’s accounts shows it owns $2.97 billion worth of land and buildings.
It had $162 million in current loans and $195 million in non-current loans out to buyers of Meriton apartments through vendor financing.
The accounts showed Meriton having about 12,000 apartments at various stages of development.
Its annual report had noted about 8200 investment units that Triguboff maintained ownership, which was now substantially higher.
Meriton has net assets of more than $3.8 billion and retained earnings of $3.6 billion.
The Meriton accounts also show it owns $265 million worth of structured financial products.
His Canberra purchase is a project site with permission for a 17-level, five-star hotel in the city’s CBD.
Meriton bought the site in Canberra’s Civic precinct at 40 Allara Street for $23 million from the Australian Unity Property Income Fund reportedly in an off-market deal.
It is part of Harry's “rapid” expansion plans for the Meriton Suites arm.
<div id="listing-recommendation-midcontent" class="experiment">“Canberra long has been on our radar because it’s drawing nearly 3 million visitors a year,” Mr Triguboff told Nine Entertainment.</div>
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Billionaire developer Harry Triguboff's personal investment portfolio tops 9400 apartments

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A medical facility in Melbourne’s west is set to hit the healthcare investment market, representing the second day hospital offering in Melbourne this year. 
The Sunshine facility is currently leased to the largest gastroenterology and hepatology practices in Melbourne’s west, Dr Gastroenterology and Dr Scope, on two 10-year terms, both with further 10-year options. 
The 493 Ballarat Road property earns a passing income of $520,000 per annum with a fixed rental increase of 3% from April 2020. 
It is being marketed by CBRE’s specialist Healthcare team of Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto.
It follows the recent $5.52 million sale of Chesterville Day Hospital in Cheltenham on a yield of 5.1%.  
<img src="https://www.urban.com.au/images/2019/7/18/493%20Ballarat%20Rd-82.JPG" alt="">
“The recent Chesterville Day Hospital campaign generated strong interest from high-net-worth investors and national medical funds, highlighting a growing demand for premium hospital investments,” Peluso said.
The 2,130 square metre site is activity centre zoned, features 21 car parks and is surrounded by a range of retail and lifestyle amenity, including Sunshine Plaza and Sunshine Marketplace.  
“Located within a major activity centre, the property will benefit from the Brimbank City Council’s intentions to make Ballarat Road the gateway to Sunshine’s town centre,” Twelftree commented. 
 The expressions of interest campaign for the property ends August 21.
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Sunshine day hospital hits the market

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The retirement of the longtime owners of Elaine’s The Railway Hotel has prompted its listing.
It has an asking price of $749,000
Dean Wilson of Stockade &amp; Leggo Bannockburn is marketing the property.
Wilson says the pub benefits from being on the main road between Ballarat and Geelong.
“There’s no footy club here, so the pub’s the place to meet," he told The Herald Sun.
Situated at 5280 Midland Highway the hotel sits on a 1.23 acre plot.
With 5,000 square metres of internal space has a bar and meal trade, multiple accommodation and is also set up for functions.
Fully featured with main bar, bistro, mens and ladies W.C's, appointed kitchen, store room/cool room, warming wood fires, large undercover beer garden and five bedrooms with two bathrooms and two separate toilets.
Located between Buninyong and Meredith on Midland Highway, it is only 25 minutes to Ballarat and 40 minutes to Geelong.
Last sold in 2006, the property traded for $250,000.
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The Railway Hotel in Elaine, Victoria listed

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The Melbourne suburb of Glen Waverley is set to be host to the highest volume of auctions this weekend.
It has 11 properties set to go under the hammer, according to CoreLogic.
Next busiest is Mount Waverley in Victoria which has nine properties going to auction, same as Reservoir, also in Victoria.
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Auction activity will remain relatively steady over the week across the combined capital cities, with 836 homes scheduled for auction this week, down only slightly from the week prior when 847 capital city homes were auctioned.
Melbourne is expected to see an increase in activity this week while Sydney is seeing a decrease. 
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There are 387 homes scheduled for auction across Melbourne, while Sydney is set to host 283 auctions, a small difference from the 348 and 318 auctions held last week respectively.
The smaller auction markets will also see a lower volume of homes auctioned week on week with the exception of Perth where auction volumes are unchanged, and Tasmania which is set for a slight increase.
Total auction volumes are also down on a year ago as this time last year a higher 1,257 homes went under the hammer across the combined capital cities over the same week.
<img src="https://www.urban.com.au/images/2019/7/18/Glen%20W%201%20.png" alt="" style="caret-color: #000000; color: #000000; font-family: -webkit-standard;">
The busy auction weekend in Glen Waverley sees <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-131145454" target="_blank">1A Florence Street</a> (pictured top) offered for sale.
The four bedrooms, two bathroom property comes with approved plans for 3 townhouses and a price guide of $2,600,000 - $2,860,000.
<img src="https://www.urban.com.au/images/2019/7/18/Glen%20W%203.png" alt="">
Another example of the breadth of auctions taking place in Glen Waverley is <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-131405022" target="_blank">3 Tiuna Court</a> (pictured above).
The three bedroom, two bathroom house has a price guide of $1,100,000 - $1,210,000.
<img src="https://www.urban.com.au/images/2019/7/18/Glen%20W%204.png" alt="">
A third property going to auction in Glen Waverley this week is <a href="https://www.realestate.com.au/property-unit-vic-glen+waverley-130758130" target="_blank">3/7 Carramar Avenue</a> (pictured above).
The two bedroom, one bathroom unit/townhouse has a price guide of $620,000 to $680,000.
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Glen Waverley set to be the busiest weekend auction hotspot

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EXPERT OBSERVER
CoreLogic estimates of monthly settled sales data points to a levelling in housing market activity, following several years of falling home sales.
Despite signs that market activity is leveling out, annual transaction numbers remain lower year on year across every capital city region of the country.
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Annually, transaction volumes continued to decline, however, recent monthly data indicates that transaction volumes may have stabilised. 
The decline in home sales has taken market activity to similar levels as what was recorded during the previous downturns in 2008-09 and 2011- 12.
Nationally, an estimated 412,154 settled dwelling sales occurred over the past 12 months which was - 17.5% fewer than the previous year. 
Although sales volumes are lower on an annual basis, monthly sales volumes have risen from recent lows and although market activity is lower than a year ago, the number of sales is relatively unchanged over recent months.
<img src="https://www.urban.com.au/images/2019/7/18/CL%201.png" alt="">
Sydney recorded an estimated 82,427 settled sales over the 12 months to June 2019; -21.9% fewer than the previous year and well down on the decade average.
 While annual sales are significantly lower, the chart highlights that on a six-month trend basis, sales volumes have started to increase slightly but are sitting at a level close to what was recorded in the 2008-09 downturn. 
With an unprecedented volume of off-the-plan unit stock under construction and already under contract, there will inevitably be some revision to these figures over coming years.
<img src="https://www.urban.com.au/images/2019/7/18/CL%202.png" alt="">
The six-month trend for Melbourne shows that the estimated number of sales trended slightly higher over recent months. 
Notwithstanding the recent improvement in transaction volumes, market activity has fallen to levels similar to those during the 2011-12 housing downturn.
Annually there were an estimated 64,546 settled sales over the past year which was -27.0% lower than over the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%203.png" alt="">
Unlike Sydney and Melbourne, there is little evidence as yet to indicate that transaction volumes in Brisbane may be stabilising. 
Transaction volumes continue to trend lower on a monthly basis and, although they are similar levels to those in 2008-09 they are not yet as low as volumes were during 2011- 12 downturn. 
Over the past year there were an estimated 39,641 settled sales across Brisbane which was -13.4% lower than annual sales over the previous year.
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The estimate of monthly sales across Adelaide have been trending higher over recent months and market activity has recently trended above the decade average.
Although there has been a recent uptick in sales volumes, over the past 12 months there were an estimated 22,650 settled sales which was -4.1% previous than the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%205.png" alt="">
Perth sales transactions slumped over recent years as the housing market downturn has carried on. 
Transaction volumes have recently stabilised, albeit at a level below previous housing market downturns. 
Over the past 12 months there were an estimated 29,263 settled sales which is -7.3% lower than the previous year. 
Although sales are lower on an annual basis monthly data suggests market activity has been steady of late.
<img src="https://www.urban.com.au/images/2019/7/18/CL%206.png" alt="">
Hobart is one of the few capital cities where sales have been above the decade average over recent years.
 Monthly transaction volumes have been declining for two years and are now sitting at around the decade average levels and likely to fall further. 
Over the past 12 months there were an estimated 4,691 settled sales which was down -11.4% compared to the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%207.png" alt="">
Transaction volumes in Darwin fell on an annual basis over the past year, down -9.2%. 
With ongoing market weakness, monthly data indicates that housing market activity has continued to slide, with the decline mirroring the ongoing decline in dwelling values. 
With the NT seeing a population loss and negative jobs growth, it seems as if demand for housing is continuing to shrink which is a major contributor to the ongoing slide in sales activity.
<img src="https://www.urban.com.au/images/2019/7/18/CL%208.png" alt="">
Although the monthly sales estimates are below the decade average in Canberra, market activity has begun to steady over recent months. 
On an annual basis, there was an estimated 7,386 transactions over the past year which was -8.6% lower than sales volumes over the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%209.png" alt="">
Across most cities there are some tentative signs that sales volumes may have bottomed. With two 25 basis point cuts to interest rates and lenders now lowering their serviceability buffers, access to finance is easing somewhat and borrowing power is increasing which should support a further increase in transaction volumes. 
One of the challenges for the market at the moment is historically low volumes of new properties entering the market for sale which is contributing to the low volume of sales. We anticipate that come Spring, new listings will increase which should lead to more transaction activity.
The challenge for vendors will be whether or not a potential pick-up in listings is accompanied by a commensurate pick-up in buyers in the market. While some restrictions on credit have been removed, accessing finance is still much more difficult than it has been in the past so demand could still be fickle over the coming months. 
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CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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Home sales and housing market stabilising: CoreLogic's Cameron Kusher

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The proportion of Australian households renting their home increased to 32 per cent in 2017–18, according to new figures released by the Australian Bureau of Statistics (ABS). 
It was an increase from 27 per cent in 1997–98. Over the same 20-year period, the proportion of households that rented their home from a private landlord increased to 27 per cent (up from 20 per cent), while the proportion of public housing tenants decreased from 6 per cent to 3 per cent. "Most of the increase in renter households was in the private rental market," said ABS Chief Economist, Bruce Hockman. 
"Some of the decrease in public housing numbers can be attributed to recent trends in social housing provision which have seen the community housing sector taking on an increasingly prominent role." The proportion of households that owned their own home fell to 66 per cent, down from 70 per cent in 1997-98. The proportion of households that owned their home without a mortgage decreased to 30 per cent (down from 40 per cent), while the proportion who owned their home with a mortgage increased to 37 per cent (up from 31 per cent). One in five households (20 per cent) owned one or more residential properties other than their usual residence. Of those households that owned other residential property, 71 per cent owned a single property, while 5 per cent owned four or more properties.
 Housing costs remained steady for most household tenure types when compared to recent years. On average, in 2017-18, renters paid $366 per week on housing, while housing costs for owners with a mortgage were $484 per week. "Interest rates have remained relatively low over the past several years and we have seen a recent softening in the rental market in some major cities," Mr. Hockman said.  The data shows that renters continued to devote more of their income to housing than home owners. On average, private renters paid 20 per cent of their income on housing costs, compared to 16 per cent for owners with a mortgage and 3 per cent for households who owned their home outright. Lower income households spent a greater proportion of their household income on housing. On average, lower income households renting privately paid $339 per week which was 32 per cent of their gross weekly income. Lower income households who owned their home with a mortgage paid on average $376 per week which was 29 per cent of their gross weekly income.
Housing costs include rent payments; rate payments (water and general); and mortgage or unsecured loan payments (if the initial purpose of the loan was primarily to buy, add, or alter the dwelling).
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Renters on the rise as outright home ownership falls to 66 percent: ABS

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Joel Robinson

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

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Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

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The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

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A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

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The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

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A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

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Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

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Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

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More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

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Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

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The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

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Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

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