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Brisbane's first half of this year has been more conservative than progressive, according to the latest Herron Todd White (HTW) residential report. 
"As far as property markets go in 2019, it’s fair to say we’ve been less dramatic than our southern cousins – but in a good way," the valuation firm said. 
"The general consensus among our valuers is that Brisbane has been a steady performer across the board.
"There was some minor price softening in our markets, but not enough to give owners the jitters.
"In addition, when compared to some of the country’s larger markets, we were probably considered a stellar performer by some."
The report noted that while many of their metrics have looked promising for growth at the start of this year, forces pulled in the other direction too.
"We are affordable in comparison to southern capitals –so the draw for borderless investors and lifestyle nomads is strong," the valuation firm stated.
"You only need to check out Queensland’s rising net interstate migration numbers to appreciate what’s going on.
"Another plus is infrastructure projects, both underway and planned, that are set to boost our employment prospects while also improving lifestyle for residents."
That said, the tough lending environment played its part.
"Top this with a good dose of federal election market paralysis, and you might see why Brisbane – even with all its positives – still couldn’t break free and run hard," the HTW report noted. 
"Of course, with the election over and APRA starting to relax borrowing guidelines, it could be brighter times in the months to year’s end. 
"So, let’s drill down a little."
The HTW team noticed the credit crunch of tighter lending hit the sub-$2 million market the hardest.
While there were still enough buyers with the desire to purchase in this bracket, their aspirations were slowed by loan rejections.
The result has seen properties sitting on the market for longer than in previous years and, in some instances, asking prices are being reduced slightly to achieve a sale.
According to the report, another interesting occurrence which reflected on tough finance has been changes to sale conditions.
"This manifested in the rise of finance clauses that were regularly running at 21 to 30 days," the valuation firm said. 
"This is fairly lengthy when compared to previous years where seven to 14 days finance was all that was needed."
One of the bright sparks in Brisbane market was property priced above $3 million.
It seems that many of these purchasers were immune to finance, politics and other economic bad news – sales are still performing well across many suburbs.
A recent above $3 million sale was a South Brisbane penthouse redesigned by award-wining building designer Chris Clout.
As the only rooftop apartment in South Bank, the apartment at<a href="https://www.realestate.com.au/sold/property-apartment-qld-south+brisbane-130491942" target="_blank"> 2201/289 Grey Street</a> (pictured below) with 280 degree views has been sold for $3.28 million.
It comes with three bedrooms, living area, kitchen with integrated appliances, and infinity edge pool with wet bar. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/s%20brisbane%20.jpg" alt="">
"Looking at property types and our market continued to tread cautiously in relation to high-rise units – particularly investor stock.
"It’s true that the oversupply fears have eased somewhat.
"Prescient developers who, a few years back, could see problems looming, decided to mothball projects, sell off sites or reconfigure stock." 
That said, there is still a good supply of available apartments in Brisbane and there’s also limited to no demand from foreign, local or interstate investors for this stuff.
As such, the value softening continued.
Owner-occupier boutique product completed to a high standard was, on the other hand, holding up pretty well, although development sale rates would be considered historically low.
"If you were purchasing a unit at the start of 2019, hopefully it was one that would appeal as much to owners as it would to investors," the valuation firm said. 
According to the valuation firm, the first half of this year has also seen rentals start to bounce back and increase slightly and gradually.
This will be a relief for landlords who were trying to sit tight and stay calm during tougher lending times.
A three bedroom parkside apartment located within minutes to Brisbane CBD has been listed for lease for $745 a week. 
The first floor apartment at <a href="https://www.realestate.com.au/property-apartment-qld-brisbane+city-426544002" target="_blank">7084/7 Parkland Boulevard</a> (pictured below) comprises two bedrooms, third bedroom or study, open plan living and kitchen area, and north-facing balcony with views of parklands.
The building features lift access, pool and gym.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/brisbane%20.jpg" alt="">
Finally, the past six months in new house and land, particularly in large outer suburban estates, slowed in terms of sale rates.
"So, what surprised us the most in this first six months of the year? Well, the election result seems to have caught many off guard.
"We know a few in the industry were resigned to the idea that a new government would bring tax changes to the property sphere, but that turned on a dime the Monday after election weekend.
"In fact, the feeling is pent up demand for investing in real estate will be released as we travel through to the end of the year.
"This may well result in improved values too, but let’s report on that when December rolls around."
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j.ballantyne1990-6AQqhLzZaK

Brisbane sees strong performance in over $3 million sales: HTW residential 

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The Elysian, a three level 2010-built contemporary residence in Melbourne's Sanctuary Lakes, has hit the market with a price guide of $2.5 million to $2.65 million.
It has been offered by Fadi Saad and Kristy Wang from Sanctuary Lakes Real Estate. 
Nestled on an 865 square metre block, The Elysian at <a href="https://www.realestate.com.au/property-house-vic-sanctuary+lakes-130793886" target="_blank">11 Pelican Point Road, Sanctuary Lakes </a>comprises four bedrooms plus study, four bathrooms, multiple living areas and gardens.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/sanctuary%20lakes%202.jpg" alt="">
The ground floor comes with formal lounge, study, separate living room, formal dining room and guest bedroom with ensuite bathroom.
The first floor features hotel-inspired master bedroom, two additional bedroom and multitude balconies. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/sanctuary%20lakes%203.jpg" alt="">
There is a self-contained studio with separate access including kitchen, meals, living, bathroom and large store room. 
Other highlights of The Elysian include gas-heated swimming pool, floor to ceiling architecturally designed curved windows, timber flooring, designer kitchen and provision for home theatre in the family room. 
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Sanctuary Lakes trophy home listed for $2.5 million plus

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Beach Haven, a four bedroom Tasmania home, remains listed for sale.
It has been on sale for more than a year now.
Set on 12 hectares, the property comes with 700 metres fronting the Chain of Lagoons Beach on Tasmania's east coast. 
It has been offered by Jason Harbottle from Tasmania Sotheby's International Realty.
The lot at<a href="https://www.realestate.com.au/property-acreage+semi-rural-tas-chain+of+lagoons-131404022" target="_blank"> 20116 Tasman Highway, Chains of Lagoons </a>offers a diverse allotment of natural bush, sand dunes, good pasture and a well-developed, highly functional living site.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/chain%20of%20lagoons%203.jpg" alt="">
It has dual use currently with two dwellings catering for residential and visitors accommodation.
Each dwelling comes with two bedrooms and one bathroom.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/chains%20of%20lagoons%202.jpg" alt="">
The property is close to Picaninny Point.
CoreLogic report its last sold in 1986 at $25,000. 
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Home at Tasmania's Chain of Lagoons Beach remains listed for sale

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The momentum generated in Mackay throughout 2018 has continued in 2019, with most agents reporting good demand, shorter selling periods and increasing sale volumes, according to the latest Herron Todd White (HTW) residential report.  
The report suggests that this trend has been evident across almost all market sectors except for units, which are continuing to struggle.
According to the report, there is a general optimism in the Mackay economy and the resource sector.
Large infrastructure projects (such as the Mackay Ring Road) are well underway, increased employment opportunities in the resource sector and servicing industries in Mackay, as well as a building industry that is slowly bouncing back, are some of the factors underpinning this momentum.
The vacancy rate has fallen to lows not seen in half a decade and sit well below 2%, which has resulted in some significant increases in rental values, between $20 and $50 per week for standard dwellings.
A fully furnished two bedroom unit within walking distance to Mackay CBD is currently on the market with a price guide of $350 per week.
The two-level renovated unit at <a href="https://www.realestate.com.au/property-house-qld-mackay-425757286" target="_blank">1/20 Byron Street</a> (pictured above) comes with two bedrooms on the upper level, open plan living room, and renovated kitchen and bathroom.
The water usage is included in weekly rent. 
This tightening of the rental market and increased rental value pressure has had a flow on effect in the owner-occupier and investment housing sale market and contributed to increased demand.
"However, on the back of this momentum, we have not seen any significant rises in median house prices yet, with small gains of around 3% to 5% only in some areas," the valuation firm said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/2/mackay%202.jpg" alt="">
A current listing is a three bedroom house within walking distance to the Mackay CBD priced $345,000.
Set on a 425 square metre block, the air-conditioned home at <a href="https://www.realestate.com.au/property-house-qld-mackay-131054350" target="_blank">36 Griffin Street</a> (pictured above) comprises three bedrooms, open plan living/dining/kitchen area, undercover patio and small garden.
"One issue reported by local agents is the effect of the uncertainty prior to the election and possible changes to taxation around property," the HTW report said. 
"They report that there has definitely been a wait and see attitude, especially from investors, which resulted in a drop in enquiry and sales volumes over the past month."
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Mackay residential market remains strong: HTW residential 

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Twenty-five lenders have announced rate cuts for their variable rate home loan customers since the RBA cut the cash rate on Tuesday.
So far eight lenders have confirmed they will be passing on the full 0.25% cut to all their variable rate customers.
Just four of these lenders – RACQ, Athena, Homestar Finance and Newcastle Permanent – passed on the full cut the month before.
The average home loan rate cut to be passed on in July is currently around 0.22%, as several lenders opt to pass on less than they did in June including CBA, NAB, ING, Macquarie Bank and Suncorp.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom">
Lender
</td>
<td valign="bottom">
July rate change
</td>
<td valign="bottom">
Date effective
</td>
<td valign="bottom">
June cut (for owner occupied)
</td>
<td valign="bottom">
New lowest ongoing variable rate
</td>
</tr>
<tr>
<td valign="bottom">
ANZ
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
12-Jul
</td>
<td valign="bottom">
0.18%
</td>
<td valign="bottom">
3.38%
</td>
</tr>
<tr>
<td valign="bottom">
Athena
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
2-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.09%
</td>
</tr>
<tr>
<td valign="bottom">
Aussie
</td>
<td valign="bottom">
Up to 0.20%
</td>
<td valign="bottom">
From 18 July
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
TBA
</td>
</tr>
<tr>
<td valign="bottom">
Bank of Melbourne
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.39%
</td>
</tr>
<tr>
<td valign="bottom">
BankSA
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.39%
</td>
</tr>
<tr>
<td valign="bottom">
Bankwest
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
23-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.70%
</td>
</tr>
<tr>
<td valign="bottom">
CBA
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
23-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.35%
</td>
</tr>
<tr>
<td valign="bottom">
Firstmac
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
26-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.53%
</td>
</tr>
<tr>
<td valign="bottom">
Greater Bank
</td>
<td valign="bottom">
Up to 0.25%
</td>
<td valign="bottom">
29-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.32%
</td>
</tr>
<tr>
<td valign="bottom">
Homestar Finance
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
2-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
2.99%
</td>
</tr>
<tr>
<td valign="bottom">
ING
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
18-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.14%
</td>
</tr>
<tr>
<td valign="bottom">
<a id="LPlnk713998" href="http://loans.com.au/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Loans.com.au</a>
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
26-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.03%
</td>
</tr>
<tr>
<td valign="bottom">
Macquarie Bank
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
18-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.24%
</td>
</tr>
<tr>
<td valign="bottom">
ME Bank
</td>
<td valign="bottom">
0.15%
</td>
<td valign="bottom">
23-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.39%
</td>
</tr>
<tr>
<td valign="bottom">
NAB
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
12-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.35%
</td>
</tr>
<tr>
<td valign="bottom">
Newcastle Permanent
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
29-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.24%
</td>
</tr>
<tr>
<td valign="bottom">
RACQ
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
From 8 July
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
3.19%
</td>
</tr>
<tr>
<td valign="bottom">
RAMS
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
4.01%
</td>
</tr>
<tr>
<td valign="bottom">
Reduce
</td>
<td valign="bottom">
Up to 0.22%
</td>
<td valign="bottom">
2-Jul
</td>
<td valign="bottom">
Up to 0.25%
</td>
<td valign="bottom">
2.89%
</td>
</tr>
<tr>
<td valign="bottom">
Resimac
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
24-Jul
</td>
<td valign="bottom">
Various
</td>
<td valign="bottom">
3.21%
</td>
</tr>
<tr>
<td valign="bottom">
St George
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.38%
</td>
</tr>
<tr>
<td valign="bottom">
State Custodians
</td>
<td valign="bottom">
Up to 0.25%
</td>
<td valign="bottom">
24-Jul
</td>
<td valign="bottom">
N/A
</td>
<td valign="bottom">
N/A
</td>
</tr>
<tr>
<td valign="bottom">
Suncorp
</td>
<td valign="bottom">
0.19%
</td>
<td valign="bottom">
19-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.30%
</td>
</tr>
<tr>
<td valign="bottom">
The Mutual
</td>
<td valign="bottom">
Up to 0.20%
</td>
<td valign="bottom">
19-Jul
</td>
<td valign="bottom">
0.25%
</td>
<td valign="bottom">
TBA
</td>
</tr>
<tr>
<td valign="bottom">
Westpac
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
16-Jul
</td>
<td valign="bottom">
0.20%
</td>
<td valign="bottom">
3.58% 
</td>
</tr>
</tbody></table>
Keep across the changes with RateCity.com.au’s <a href="https://www.ratecity.com.au/rba-cash-rate." target="_blank">live list of who is cutting</a>, by how much and when.
RateCity.com.au research director Sally Tindall said: “The RBA has made it clear further reductions to the cash rate could be needed, but banks are increasingly finding it difficult to pass these cuts on to their home loan customers in full. 
“They’re juggling depositors, borrowers and shareholders in what is becoming an increasingly difficult equation. 
“A lot of lenders are taking their time to consider their options following this most recent cut.
“If the cash rate falls any further, an increasing number of savings accounts are likely to hit 0.00% interest.”
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Rate update: who’s moved since Tuesday’s cash rate cut

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Mosman in Sydney and Bentleigh East in Melbourne are the busiest suburbs for auctions this week, with nine auctions scheduled to go under the hammer each.
Upcoming auctions
Auction volumes are expected to fall across the combined capital cities this week with CoreLogic currently tracking 879 auctions, down from both last week (1,295) and this time last year (1,411).
Melbourne is expecting to see around 350 homes taken to auction this week, down from 535 last week and 631 last year. Sydney is also set to host a lower volume of auctions week-on- week with 343 auctions scheduled, down from 503 last week and 552 this time last year.
<a href="https://www.propertyobserver.com.au/images/2019/7/4/auction%202.jpg" target="_blank">Click here</a> to enlarge:
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/auction%202.jpg" alt="">
Source: CoreLogic
<a href="https://www.propertyobserver.com.au/images/2019/7/4/auction%203.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/auction%203.jpg" alt="">
Source: CoreLogic
Across the smaller auction markets, Adelaide, Brisbane and Perth are expecting fewer auctions week-on-week.
Canberra will see a rise in auction volumes this week with 58 homes scheduled for auction, while Tasmania is expecting to host an additional auction over the week.
A two bedroom art deco apartment close to Mosman Village has been scheduled to go under the hammer on July 6.
It has been listed by Claudia Portale of McGrath Lower North Shore Mosman with a price guide of $750,000.
The 80 square metre top floor apartment at<a href="https://www.realestate.com.au/property-apartment-nsw-mosman-131370066" target="_blank"> 1/482 Military Road</a> (pictured below) comprises open living/dining area, kitchen with dishwasher, two large bedrooms, and tiled bathroom.
It's within walking distance to bars, cafes and restaurants and close to Balmoral Beach. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/mosman%201.jpg" alt="">
Another upcoming auction on July 6 is a new four bedroom townhouse in Bentleigh East with a price guide of $1.1 million to $1.15 million.
Kosta Mesaritis and Tina Verni of Jellis Craig Bentleigh have the listing.
The townhouse at <a href="https://www.realestate.com.au/property-townhouse-vic-bentleigh+east-131342154" target="_blank">40A Goodrich Street </a>(pictured below) comes with four bedrooms, open plan entertaining area, stone kitchen, and easy care gardens.
It's within close proximity to Mackie Road shops, cafes, and park. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/bentleigh%20east.jpg" alt="">
Summary of Last Week’s results
Last week, 1,295 homes were taken to auction across the combined capital cities, returning a final auction clearance rate of 62.9%, the highest clearance rate recorded since April last year and the third consecutive week where the clearance rate has held above 60.0%. Over the previous week, 1,484 auctions were held and a clearance rate of 60.5% was recorded, while one year ago, 1,671 homes were taken to auction returning a clearance rate of 52.6%.
Melbourne saw 535 homes taken to auction last week, down from 635 the previous week. The final clearance rate for Melbourne was similar week-on-week with last week’s clearance rate recorded at 68.6%, compared to 68.9% over the previous week. Melbourne’s clearance rate one year ago was 57.2% across 791 auctions.
In Sydney, 503 homes went to auction across the city last week returning a final clearance rate of 67.9%, the highest clearance rate the city has seen since Easter 2018. In comparison, 558 homes were taken to auction over the previous week and the clearance rate came in at 60.9%. Over the same week last year 634 auctions were held in Sydney while the clearance rate was a lower 49.7%.
Across the smaller auction markets, Canberra was the only city to see a fall in clearance rates week-on-week.
Of the non-capital city auction markets, the Gold Coast had the highest volume of auctions (62) last week, while the Geelong region was the best performer in terms of clearance rates with 66.7% of reported auctions recording a successful result.
<a href="https://www.propertyobserver.com.au/images/2019/7/4/auction%20result%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/auction%20result%201.jpg" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2019/7/4/auction%20result%202%20.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/4/auction%20result%202%20.jpg" alt="">
Source: CoreLogic
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Mosman ranks as Sydney's busiest weekend auction suburb 

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Most agents are reporting a softening in buyer enquiry and demand across the board throughout the Gold Coast, according to the latest Herron Todd White (HTW) residential report. 
All sectors are reporting some softening in value levels and longer sale periods required to achieve a sale, the valuation firm said. 
"It is definitely a buyer’s market and they are more discerning with their choices and in no rush to sign up to buy," the report stated. 
One leading agent has reported a general drop of circa 10% for Bundall and Sorrento from the generally accepted top of the market in late 2017.
According to the report, this was evidenced in a top end sale where the purchasers had submitted an offer at $4.5 million less than eight months ago and have just gone to contract at $4.1 million on the same property.
"The local market is well aware of the downward trend in the southern cousins of Melbourne and Sydney, however there appears to be a general consensus that local value levels here didn’t sky rocket like our southern counterparts and as such any market correction here is likely to be much more gradual and gentle in nature," the report said.
"The unit investment market in the beach side suburbs of Surfers, Broadbeach, Mermaid Beach and, to a lesser extent, Main Beach was negatively impacted by tighter bank lending restrictions, including the reduction of interest only loans and the banks’ requirements to convert to a principal and interest loan upon expiry of the interest only loan term.
"This resulted in serviceability issues for a number of investors and we saw this translate to vendors accepting contracts below previous sales within the building."
HTW said that the foreign investor market slowed as Chinese investors now seem to have disappeared from the market.
The prestige residential market up to circa $2 million was still ticking over albeit at a slower pace compared to standard residential housing within the central precincts.
A three bedroom Main Beach apartment which was traded at $2,462,000 in 2008 has recently been sold for $1,775,000.
The 278 square metre sky home at <a href="https://www.realestate.com.au/sold/property-apartment-qld-main+beach-130949282" target="_blank">2/20-24 Hughes Avenue</a> (pictured below) comes with three bedrooms, living areas, large balcony and resort lap pools.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/main%20beach%20.jpg" alt="">
Dry block or non-waterfront houses transacted steadily with some softening in price levels.
This market sector was mainly driven by local buyers.
A deceased cottage positioned in the Main Beach high-rise precinct has recently beed sold for $1.5 million.
Sit on a 531 square metre block, the cottage at <a href="https://www.realestate.com.au/sold/property-house-qld-main+beach-131230022" target="_blank">18 Hughes Avenue</a> (pictured below) with redevelopment potential comes with two bedrooms, one bathroom and yards.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/main%20beach%202.jpg" alt="">
Moving slightly out of the central locality, a recent sale of a proposed vacant lot in Tallai (to be subdivided off an existing larger site) and comprising 4,238 square metres of near level vacant rural residential land sold to a local buyer for the asking price of $600,000.
The agent reported the buyer had been looking for circa 12 months and this fitted their needs.
Other vacant sites available for sale all had issues either with sloping contour, flood or in close proximity to high voltage power lines.
"This sale indicates that the market for good quality, well located vacant land is generating good buyer enquiry and strong prices," HTW said.
"This sale is one of many occurring on the Gold Coast where local purchasers are seeking specific properties and are willing to pay more for a property that satisfies their requirements."
</body></html>

Central Gold Coast foreign investor market slows: HTW residential 

<html><body>
The Emerald property market is still trending upwards, but buyers do appear to be showing caution, according to a recent Herron Todd White (HTW) residential report. 
The report notes that sale volumes are below previous expectation, while the bottom end of the market has lifted to around $200,000 for houses.
"For the right product, we have seen values come back to within around 10% to 15% of the peak experienced in 2011 and 2012," the valuation firm said. 
The space to watch currently is vacant land sales with the top end reaching new highs in recent times, it said. 
"The wow factor this year to date has been the top end and two sales over the $1 million mark," the valuation firm commented. 
One of the sales is a resale from $890,000 only six months prior.
This same property sold at the bottom of the market for $635,000.
"So you can see that for the right product - modern, good location, good ancillary improvements, multiple buyers - values are pushing up," the valuation firm said. 
A five bedroom house in the Selma Rise estate has recently been sold for $495,000.
The family home at <a href="https://www.realestate.com.au/sold/property-house-qld-emerald-130926530" target="_blank">22 Haswell Street</a> (pictured above) comprises five bedrooms, kitchen with extensive storage, open plan living and dining areas, theatre room, rumpus room and in-ground pool.
It's within walking distance to the Marist college. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/2/emerald%201.jpg" alt="">
A current listing is a five bedroom home located 100 metres to Marist College priced at $829,000.
Nestled on a 900 square metre allotment, the house at <a href="https://www.realestate.com.au/property-house-qld-emerald-107329207https://www.realestate.com.au/property-house-qld-emerald-107329207" target="_blank">47 Jeppesen Drive</a> (pictured above) comes with five bedrooms, three separate living areas, children's retreat, separate dining, kitchen with European appliances and in-ground pool.
Other features include nine foot ceilings, solar system, ducted reverse air conditioner system and double lock up garage. 
"The market appears slow to steady across the region at present with no increase in sales volumes which is typical before an election and end of a financial year," the report said. 
"If some of the new proposed coal mines in the area start physical construction or production then we will surely see demand higher than supply." 
</body></html>

Top end of Emerald market hitting new highs: HTW residential 

<html><body>
Immigration increases house prices, but that effect is reduced if a population views new migrants negatively, according to a world-first analysis from Deakin University.
The Deakin Business School study, <a id="LPlnk86101" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=FcQ5do3Mtm%2F2JnP%2FxXFcY%2BL9mOkU%2Fad4G7kfqxVfSdkEEq1vNf2gy223dpxStDrOzS022pZho9BLBEis%2FGvpUGMgg3AkCNJaGd8RDr0EBFADdtnwPzZ5Bw0vwFcWND0w6IwjcZm%2FFGI%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.sciencedirect.com%2Fscience%2Farticle%2Fpii%2FS1051137718302481&amp;I=20190703032605.000004826056%40mail6-41-usnbn1&amp;X=MHwxMDQ2NzU4OjVkMWMxZTQ2YjA1ZjM5NTQ1MjYyMzQ3Mjs%3D&amp;S=Wq3LopswqhzfOS2z3SUikMwHJdf_zWOc0nAhISK0A3Q" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">recently published in the Journal of Housing Economics</a>, is the first comprehensive statistical review of the global evidence to evaluate how attitudes to immigration affect house prices.
It found that while house prices increase in line with increases to immigration that effect diminishes in countries less welcoming to the newcomers.
Alfred Deakin Professor of Economics Chris Doucouliagos, co-director of the Deakin Lab for the Meta-Analysis of Research (DeLMAR), said the global stock of immigrants had more than tripled between 1960 and 2015, from 72 million to 243 million.
“The sharp rise in international immigration is a pressing social and economic issue,” Professor Doucouliagos said.
“Our analysis is especially timely against the backdrop of a worldwide spread of populist and nationalist politics and the rising need to provide adequate housing for dislocated populations and affordable housing for younger generations.
“So we wanted to know if immigration does affect house prices. But also the impact of deep-seated attitudes towards immigration. Specifically whether the attitudes of locals towards immigrants moderates the impact of immigration.”
The meta-analysis looked at 474 estimates of immigration’s impact on house prices in 14 different destination countries, including Australia, Canada, New Zealand, the UK and the USA.
“We found that immigration increases house prices in the aggregate. However using data from the World Values Survey, we show that attitudes to immigrants moderates this effect,” Professor Doucouliagos said.
“In countries where locals dislike living next-door to immigrants, for instance, immigration has a smaller effect on house prices, although we find no evidence that house prices sink as a result of immigration.”
<table border="1" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top">
Country
</td>
<td valign="top">
Percentage not in favour of immigrant neighbours
</td>
<td valign="top">
Immigrants as percentage of 2015 population
</td>
<td valign="top">
House price change in decade to 2015
</td>
</tr>
<tr>
<td valign="top">
Australia
</td>
<td valign="top">
10.5%
</td>
<td valign="top">
28.22%
</td>
<td valign="top">
+37.35
</td>
</tr>
<tr>
<td valign="top">
Canada
</td>
<td valign="top">
4.1%
</td>
<td valign="top">
21.8%
</td>
<td valign="top">
+43.66%
</td>
</tr>
<tr>
<td valign="top">
UK
</td>
<td valign="top">
14.2%
</td>
<td valign="top">
13.2%
</td>
<td valign="top">
+0.51%
</td>
</tr>
<tr>
<td valign="top">
USA
</td>
<td valign="top">
13.6%
</td>
<td valign="top">
14.49%
</td>
<td valign="top">
-23.52%
</td>
</tr>
<tr>
<td valign="top">
New Zealand
</td>
<td valign="top">
5.9%
</td>
<td valign="top">
22.96%
</td>
<td valign="top">
+29.41
</td>
</tr>
</tbody></table>
 
 
Data on attitudes to immigrants are regularly collected from the World Values Survey. Specifically, Professor Doucouliagos and his colleagues looked at the question: ‘On this list are various groups of people. Could you please mention any that you would not like to have as neighbours?’
They then looked at the percentage of people from each country included in the meta-analysis who responded ‘Immigrants/foreign workers’.
“For example in the UK, immigration has had a non-significant effect on house prices, but our analysis suggests that may be in part because of negative attitudes towards immigrants,” Professor Doucouliagos said.
“We see the same effect in Australia, and this goes against the theory that increased immigration means higher house prices.
“Immigration increases the demand for housing and rental accommodation, but it might also affect amenities and the perceived desirability of the neighbourhoods most affected.”
Researchers also carried out a ‘counterfactual analysis’ to look at what might happen to house prices if attitudes to immigrants softened to similar levels of the most accepting sample country.
They found immigration would then increase house prices in most countries.
“Our findings are also consistent with other research that people like living near their kin and this motivates where they choose to buy or rent,” Professor Doucouliagos said.
“The tendency of new immigrants to live in the same areas as previous generations of immigrants, combined with a disinclination for local residents with negative attitudes towards immigration to reside near immigrants, lessens the relationship between immigration and house prices.”
</body></html>

Negative attitudes to immigrants tempers house price increases: Deakin University

<html><body>
An ocean-front home with cantilevered wings has taken out two awards at the 2019 HIA-CSR Australian Housing Awards.
Four other NSW winners were recognised, including an apprentice who is looking to use his carpentry skills for humanitarian purposes.
This year’s award winners were unveiled before hundreds of industry leaders at the prestigious awards ceremony held as the final night of the HIA 2019 National Conference in Perth.
Bellevarde Constructions (pictured above) won the top award for the year – the 2019 HIA–CSR Australian Home of the Year, partnered by CSR Building Products and 2019 HIA Australian Custom Built Home, partnered by Stramit Building Products, for its Headland House on the NSW South Coast.
The home features a sharp angular facade clad twice in stone and zinc, and cantilevered to create a gravity-defying illusion.
The project makes the most of the magical views over the Pacific Ocean with 500 kilogram glass panels in the ‘storm-viewing room’.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/30/TDV%20Constructions.jpg" alt="">
TDV Constructions won 2019 HIA Australian Townhouse/Villa Development (pictured above), partnered by Brickworks Building Products, for a series of thoughtfully-designed, modern family-sized townhouses that offer incredible indoor/outdoor living areas for their occupants.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/30/kitchen.jpg" alt="">
Minosa won 2019 HIA Australian Kitchen Design (picture above), partnered by Winning Appliances, for a cleverly designed space that creates a versatile and bright culinary domain.
Fairmont Homes NSW won 2019 HIA Australian Professional MediumBuilder/Renovator, partnered by Companion Systems, for their impressive management and diversity across new home builds and renovations.
Thomas Payton won 2019 HIA Jim Brookes Australian Apprentice, partnered byStratco Australia, for his ‘can-do’ attitude and excellent work ethic. Thomas has a desire to use his carpentry skills to assist countries to rebuild after natural disasters.
HIA Managing Director Graham Wolfe said the HIA-CSR Australian Housing Awards recognise the best in Australia’s residential building industry.
“HIA is committed to recognising our members who excel in building exceptional homes, kitchens and bathrooms,” Wolfe said.
“These members are reaching the highest standards in workmanship, are innovative, and pushing the boundaries with design.
“We also recognise the professional builders and business partners who are ahead of the game in customer service and business practices.
“All winners and finalists are congratulated; having achieved one of the highest accolades and being recognised before their industry peers.”
The HIA-CSR Australian Housing Awards are the ultimate platform to showcase the talents of the nation’s top builders and designers.
Winners are selected from state-based finalists, with awards in 22 separate categories (see full list below).
2019 HIA-CSR Australian Housing Awards winners
<table>
<colgroup>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td>
2019 HIA-CSR Australian Home of the Year
Partnered by CSR Building Products
</td>
<td>
Bellevarde Constructions
NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Apartment of the Year Partnered by Toyota Fleet
</td>
<td>
Giorgi
Western Australia
</td>
</tr>
<tr>
<td>
2019 HIA Australian Townhouse/Villa of the Year Partnered by Holcim Australia
</td>
<td>
Rivergum Homes
South Australia
</td>
</tr>
<tr>
<td>
2019 HIA Australian Custom Built Home Partnered by Stramit Building Products
</td>
<td>
Bellevarde Constructions
NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Display Home Partnered by ActronAir
</td>
<td>
Better Building Services, DNA Architects and Sugar DesignsACT &amp; Southern NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Outdoor Project Partnered by James Hardie
</td>
<td>
Aria Property Group
Queensland
</td>
</tr>
<tr>
<td>
2019 HIA Australian Project Home Partnered by Liberty Reinforcing
</td>
<td>
Inspired Homes
Western Australia
</td>
</tr>
<tr>
<td>
2019 HIA Australian Renovation / Addition Project Partnered by COLORBOND steel
</td>
<td>
Cassari Group
Western Australia
</td>
</tr>
<tr>
<td>
2019 HIA Australian Spec Home Partnered by Stratco Australia
</td>
<td>
S Smith Builders
Victoria
</td>
</tr>
<tr>
<td>
2019 HIA Australian Specialised Housing Partnered by Merlin Garage Door Openers
</td>
<td>
Resonate Homes
Western Australia
</td>
</tr>
<tr>
<td>
2019 HIA Australian Apartment Complex Partnered by Beacon Lighting Commercial
</td>
<td>
Aria Property Group
Queensland
</td>
</tr>
<tr>
<td>
2019 HIA Australian Townhouse/Villa Development Partnered by Brickworks Building Products
</td>
<td>
TDV Constructions
NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Bathroom of the Year Partnered by Caroma Industries
</td>
<td>
Lane Group
Tasmania
</td>
</tr>
<tr>
<td>
2019 HIA Australian Bathroom Design Partnered by Caroma Industries
</td>
<td>
Archertec Interiors
ACT &amp; Southern NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Kitchen of the Year Partnered by Winning Appliances
</td>
<td>
Darren James Interiors
Queensland
</td>
</tr>
<tr>
<td>
2019 HIA Australian Kitchen Design Partnered by Winning Appliances
</td>
<td>
Minosa
NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Professional Major Builder Partnered by Companion Systems
</td>
<td>
Porter Davis
Victoria
</td>
</tr>
<tr>
<td>
2019 HIA Australian Professional Medium Builder / Renovator Partnered by Companion Systems
</td>
<td>
Fairmont Homes NSW
NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Professional Small Builder / Renovator Partnered by Companion Systems
</td>
<td>
Ultimo Constructions
Western Australia
</td>
</tr>
<tr>
<td>
2019 HIA Jim Brookes Australian Apprentice Partnered by Stratco Australia
</td>
<td>
Thomas Payton
NSW
</td>
</tr>
<tr>
<td>
2019 HIA Australian Business Partner Partnered by B&amp;D Doors and Openers
</td>
<td>
Bec Hopper
P.A.H. Innovative Construction ACT &amp; Southern NSW
</td>
</tr>
<tr>
<td>
2019 HIA-CSR Australian People’s Choice Home Partnered by CSR Building Products
</td>
<td>
Brendan Grant Master Builders
North Queensland
</td>
</tr>
</tbody>
</table>
</body></html>

Six NSW entrants win at HIA national housing awards

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

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.

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.

[smartcode_project:default project_id=28384 project_image_fid=3823]

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."

[smartcode_project:default project_id=28384 project_image_fid=3826]

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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

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.

[smartcode_project:default project_id=28384 project_image_fid=372542]

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.

[smartcode_project_cta:default project_id=28384]

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.

[smartcode_project:default project_id=143337 project_image_fid=374768]

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."

[smartcode_project:default project_id=143337 project_image_fid=374767]

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.

[smartcode_project:default project_id=143337 project_image_fid=374760]

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.

[smartcode_project:default project_id=143337 project_image_fid=374761]

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.

[smartcode_project_cta:default project_id=143337]

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.

Staff reporter

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