<html><body>
Olympic rower Bryan Curtin and his wife Minhee are downsizing from their Woolwich home, Eversley, which has been listed with $11 million plus hopes.
Curtin, who rowed for Australia with his brother Richard in the 1972 Munich Games, has been in Woolwich since 1986 when he bought the north-facing waterfront block with private jetty and 12-metre pool for $1.6 million.
McGrath’s Tracey Dixon is seeking offers until March 8 for the 1500 square metre property.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Former Olympic rower Bryan Curtin lists Woolwich villa Eversley

<html><body><div class="page" title="Page 8">
<div class="layoutArea">
<div class="column">
The tightening in lending standards over the past year was not the cause of the recent decline in housing credit growth, the RBA has suggested.
Liaison with banks, other lenders and mortgage brokers suggests that the demand for housing loans has declined. 
"Liaison also reported that most people who apply for a housing loan can still obtain one, though they have to provide more documentation, answer more questions and wait a few days longer to be approved."
<img src="https://www.urban.com.au/images/2019/2/8/RBA%20Graph%2034.JPG" alt="">
The new landscape sees higher competition between lenders to issue new loans to low-risk borrowers, the RBA advised.
"Liaison with mortgage brokers and banks suggests that lenders are competing vigorously to attract borrowers with high-quality credit profiles that are applying for owner-occupier P&amp;I loans. "
"In particular, owner-occupiers with low loan-to-valuation ratios who can demonstrate the ability to service their loan are being offered quite low interest rates."
"Liaison also suggests that borrowers with these characteristics who have had a home loan for some time and want to refinance can often obtain a lower interest rate from another institution or convince their existing lender to lower the rate that they are paying." 
<img src="https://www.urban.com.au/images/2019/2/8/RBA%20Graph%201.JPG" alt="">
There has been a slowing in credit growth, primarily for investors, as the credit given by major banks to investors contracted, consistent with a decline in investor housing loan approvals by these banks.
The RBA noted, "However, this had been partly offset by a pick-up in investor credit growth at a number of other ADIs and non-ADIs."
"The slowing in credit growth is consistent with reduced demand for housing finance, particularly from investors."
"Indeed, liaison with major banks and mortgage brokers indicates that they have been receiving significantly fewer loan applications over the past year or more."
"Also, liaison with the banks and mortgage brokers indicates that most loans are still being approved; banks reported that the conversion rates of applications to approvals were stable at high levels in 2018."
The fall in housing prices in major markets appears to have reduced the demand for credit, particularly from investors, not the other way round as has been previously suggested.
<img src="https://www.urban.com.au/images/2019/2/8/RBA%20Graph%202.JPG" alt="">
</div>
</div>
</div></body></html>

Tightening in lending standards not the cause of housing credit growth decline: RBA

<html><body>
LandMark White Limited recently became aware that a dataset containing property valuation and personal contact information has been leaked.
LMW stated, "We have engaged leading external cyber security and privacy experts to undergo a forensic investigation into the incident, as well as the circumstances of the disclosure of the dataset."
"We have also engaged leading privacy experts to assess the scope and impact of any information disclosed, so that we can assess who may be impacted by this incident."
"In addition to this, we will be monitoring all of our systems to ensure that there is no ongoing data security risk," they added.
LMW believe that the source of disclosure which took place on February 4 has now been closed and that there is no ongoing data breaches or leaks.
An initial statement was released February 5 on the breach, and they have a FAQ website that is being <a href="https://www.lmw.com.au/faqs" target="_blank">updated as new information</a> becomes available.
The data at risk was contained, property valuation and some personal contact information of home owners, residents, and property agents, including first and last name, residential address, and contact numbers."
They have stated, "we are in the process of reviewing the dataset to understand the scope and impact of the incident, and the number and profile of individuals whose information is contained in the dataset."
"We reiterate that there is no evidence of misuse of any personal information, although this remains under close review."
 
 
</body></html>

What are Landmark White doing about property valuations data breach

<html><body><div class="page" title="Page 9">
<div class="layoutArea">
<div class="column">
The RBA has acknowledged the decline in housing turnover over the past year had "weighed on demand" for items such as household appliances and furnishings that are more likely to be purchased when moving into a new home.
"More generally, the decline in household wealth associated with falling housing prices has likely put some downward pressure on consumption growth," the February RBA statement of monetary policy noted.
"However, these recent falls have followed several years of very strong growth in prices," the RBA suggested.
"If households take a longer- term perspective of their wealth, they may look through the recent declines; even if they do react, it is unclear how quickly this might occur," the central bank advised.
The bank also noted the high level of household debt also remains a key consideration for household consumption. 
"In general, more indebted households are likely to be more sensitive to changes in their expected income growth and household wealth; consumption growth may be weaker for a time if households become concerned about their debt levels and choose to pay down debt more quickly. 
"It is also possible that households that are highly indebted or credit-constrained will be more sensitive to falling housing prices than to rising prices.
"Weaker housing construction and prices could have pervasive economic effects, it said.
The statement n monetary policy also noted there are a number of channels other than consumption through which housing market conditions can affect economic activity. 
"These channels have been incorporated into the central forecasts, but the effects are uncertain, particularly when there is uncertainty about the outlook for housing prices.
"The decline in housing prices will have a direct effect on dwelling investment but the timing and magnitude of the effect is uncertain. 
"The pipeline of work to be done is large and is expected to support dwelling investment for some time even though residential building approvals have already declined considerably.
The extent of the support from the pipeline could be more protracted than currently expected.
"But there is a risk that dwelling investment declines sooner and by more than currently forecast.
"This would have flow-on effects to the outlook for employment and household income.
"Very weak conditions in the earlier stages of residential development identified in business liaison point to further downside risk to dwelling investment in 2020 and beyond.
</div>
<div class="column">
There are also a number of indirect channels through which a decline in housing prices could affect the economy. 
"Lower housing prices could limit how much small businesses can borrow when using housing as collateral."
The report noted the decline in housing market turnover associated with the decline in housing prices has implications for business and household services, such as real estate and legal services.
"Changes in housing prices and turnover can also affect public demand through their effect on state government stamp duty revenue."
</div>
</div>
</div></body></html>

Uncertainty on house prices set to impact on demand for appliances and furnishings: RBA 

<html><body>
Overall listings in Australia are down 3% over the past six months with Sydney driving the overall decline, according to the latest HY2019 financial report of the digital website, Realestate.com.au. 
<div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">
In January 2019 overall residential listings were down 11% with Sydney down 19% and Melbourne down 13%. 
The update to shareholders advised January is seasonally a low listings month therefore movements are not typically representative of the longer term. 
As previously advised, the rate of revenue growt.h is expected to exceed the rate of cost growth for both the second half and the full year, however, this will not be the case in the third quarter, it foreshadowed
</div>
</div>
</div>
The report noted, that in the second half of FY19 listings may be impacted by federal and state elections.
Despite "unfavourable market conditions" REA profits were up 16% in Australia and 15% overall.
REA Group shares also had strong outcomes in HY19 with earnings per share were up 20%.
<img src="https://www.urban.com.au/images/2019/2/8/REA%20GROUP.JPG" alt="">
The report also referenced ongoing declines in dwelling commencements.
REA Group reported monthly visits to realestate.com.au rose to 73.4 million, meaning it has nearly tripled views of its nearest competitor, Domain.
The new REA Group CEO, Owen Wilson said it was "an exceptional start to the year."
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
In Australia, where revenue grew 15% to $443.2m for the half, the results were driven by an increase in revenue from the residential business of 16% to $302m and the inclusion of the Hometrack business.
"The result was delivered in unfavourable market conditions with national listings decreasing 3% (including listing declines of 10% in Sydney and 1% in Melbourne over the half). 
The revenue growth reflected the price changes which took effect from 1 July 2018.
The commercial and developer businesses achieved 10% revenue growth despite the continued decline in new project commencements, driven by an increase in project profile duration.
Tighter lending conditions and the uncertainty from the Financial Services Royal Commission on broker recruitment resulted in flat underlying revenue growth in its financial services business.
"These conditions are likely to continue for the remainder of the financial year further reducing settlement volumes and impacting revenue growth in the second half," Wilson said.
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Ryan O’Hara steps down from the REA Group Board, having been appointed to the board as a nominee of majority shareholder News Corp Australia in 2017.
The former CEO Tracey Fellows will remain on the REA board representing News Corp.
REA shares were down 3.95% this morning to $74.86.
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Real estate listings down 3% led by Sydney: REA Group

<html><body>
An 1880's, solid brick Railway Station master’s residence in the Northern NSW town of Tenterfield has been listed following a recent restoration.
Located in the historic railway precinct, the Railway Station Masters Residence features late Victorian architecture, classic chimneys, polished timber floors and insulated decorative plaster ceilings.
The State Government auctioned off the home<a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG2TfKiocVWbjUYw78ZThSFgOgKVVA/YCUO+cTaK4qukE0RZn3qQIV/A==&amp;rh=ff00469c3d7d0b8ff373265db647aeeec8b10c6e" target="_blank"></a> in 1989, with the home undergoing some updates before the current vendor paid $260,000 it in an off-market deal in 2011. “The owner before me did a lot of external work such as adding a garage and courtyard, and making it liveable,” vendor Barbara Lewin said.
The three bedroom, two bathroom home at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG2TfKiocVWbjUYw78ZThSFgOgKVVA/YCUO+cTaK4qukE0RZn3qQIV/A==&amp;rh=ff00469c2e9f82434e25f15e854fac976dba9d7e" target="_blank">6 Railway Avenue</a> has an asking price of $475,000.
<img src="https://www.urban.com.au/images/2019/2/5/Station%20master%202.JPG" alt="">
Featuring four rooms with double chimneys, a modern kitchen and a combustion heater, the home's bathrooms have all been renovated to a modern standard.
Within the breakfast room is an open fire place and french doors leading to an enclose courtyard with cottage gardens.
Ray White Rural Tenterfield’s Libby Sharpe said the local market has fared well of late, and she is expecting buyers to come from local regions as well as from locales as far north as Brisbane.
<img src="https://www.urban.com.au/images/2019/2/5/Station%20master%203.JPG" alt="">
The State Government auctioned off the property in 1989, with the home undergoing some renovation before being secured it in an off-market deal in 2012.
For the first time in 30 years this property is being offered to the market.
</body></html>

Historic 1800's Tenterfield station master's residence restored and listed

<html><body>
Australia’s financial inequality gap has narrowed for the first time in seven years, with most households feeling better about their finances, according to ME Bank’s 15th bi-annual Household Financial Comfort Report.
The report found this to be the case despite significant falls in residential property and share markets.
Consulting Economist for ME, Jeff Oughton, said “The comfort gap between property owners and renters, as well as between very high income earners and other income brackets, has narrowed."
“We’ve seen a correction for wealthier, older property-owning Australians who’ve been riding the hot property and bull share markets for much of the past seven years, while middle and lower-income households have begun to benefit from an easing in living cost pressures and income gains."
“Cooling housing and share markets haven’t yet dented the financial outlook of most Australian households, and many residential property owners remain positive: only 13% of home owners and 11% of investors expect the value of their properties to fall in 2019,” he concluded
The report found, "financial comfort of renters, while still significantly lower than other tenures, was up 8% to 4.78 out of 10, its highest in four years, reflecting improving rent conditions, while the overall financial comfort of households who own a home mortgage-free fell 3% to 6.27 out of 10, its lowest point since the survey began."
Financial Comfort
<ul>
<li>Those earning over $200,000 pa fell by 6% to 6.79.</li>
<li>Those earning $75,000-$100,000 pa increased by 7% to 5.87</li>
<li>Those earning under $40,000 pa increased 2% to 4.52</li>
</ul>
In the six months to December 2018, the report’s overall Household Financial Comfort Index increased by 2% to 5.56 out of 10, the highest in the past 5 surveys (30 months).
Slightly above the historical average of 5.45 out of 10 since the survey began in October 2011.
 ‘Changes to my income’ was also the most common reason cited for improvements to one’s financial situation.
Another contributing factor to the overall increase in household financial comfort was an improvement in how households felt about their ‘ability to pay regular expenses’, which increased 3% to 6.60 out of 10 – albeit the cost of necessities remains the ‘biggest worry’ about their household finances.
Mr Oughton said, “we’re still seeing some geopolitical effects, with households concerned about the world economy up two points to 29%, and combined with domestic property and share market corrections, many Australians are beginning to tighten their belts to build financial resiliency."
“If above average cash savings and reduced spending behaviour continues during 2019 it could significantly slow economic growth and in turn may lead to smaller job and income gains.”
Increased savings has flowed through to greater financial resilience with an improvement in households’ ability to handle a financial emergency (up 1% to 4.83, the second highest level since the report began).
Almost half of households with a mortgage (49%) continue to pay above the minimum in repayments. 
The report found a decline in households being unable to meet debt servicing commitments in the last year, with just 12% unable to meet a personal loan or credit card repayment.
Furthermore, only 7% missed a mortgage payment due to lack of funds in this time. 
Financial comfort in Queensland jumped markedly to a record level in December 2018 – up 8% to 5.68, the highest across Australia.
</body></html>

Australia’s financial inequality gap narrows for the first time in seven years: ME Bank

<html><body>
Victorian Planning Minister Richard Wynne will push for a nationwide ban on combustible cladding at the Commonwealth building ministers’ meeting in ­Hobart today.
The consideration comes as the residents of the NEO200 building in Melbourne’s CBD face more than a fortnight of not being able to return to their homes after a cladding fire on Monday.
The Neo200 building in the CBD was evacuated when a discarded cigarette butt caused a cladding fire.
Following the blaze, Melbourne City Council's building surveyor issued an emergency order that said the building could not be occupied for 48 hours, but this was extended on Wednesday with most residents unlikely to be able to return home until February 20.
"Two additional Emergency Orders and a Show Cause Notice were issued by the Municipal Building Surveyor this afternoon to specify that the building should be vacant for up to a further 14 days," the council said.
The Australian reported Wynne was forced to concede that he was yet to appoint a state building inspector, 14 months after pledging to do so as part of a raft of measures aimed at ridding buildings of dangerous flammable cladding.
The cladding — which was responsible for the fatal Grenfell Tower fire in Britain in 2017 — remains in thousands of Victorian buildings.
Mr Wynne said he would call on state, territory and federal governments to support the ban.
“The Andrews Labor government has led the country in taking action against combustible cladding — introducing changes last year to give the Minister for Planning powers to ban the use of aluminium composite cladding on new multi-storey buildings and provide a low-cost financing ­option to help owners remove dangerous combustible cladding from their properties,” Mr Wynne said.
“The Victorian Cladding Taskforce, the Victorian Building Authority and local governments have also worked with building owners and residents to make buildings safe by completing emergency works such as removing cladding around fire exits and installing smoke alarms.”
Opposition planning spokesman Tim Smith said Mr Wynne’s number one priority was to remove the “dangerous, flammable cladding from existing buildings around Victoria”.
“There are 360 buildings in the most concerning category from the Andrews Labor Government’s cladding audit, and yet they still have not guaranteed that every single resident in those buildings has been informed that their home is at risk,” he said.
Designed by Hayball Architects for Becton, the building is distinguished by its yellow podium lights presenting to Spencer and Little Bourke Streets and its distinctive golden curvilinear foyer.
The building’s construction was completed in 2007 by LU Simon builders and was awarded the 2008 Master Builder Association’s – Excellence in Construction Award.
There was a small fire on New Year's Eve in 2015.
 
 
</body></html>

Still no return possible for residents after Neo200, Spencer Street Melbourne cladding fire

<html><body>
The busiest capital city suburb for auctions this weekend is Footscray with 8 homes set to be auctioned.
Manly (NSW) and Craigieburn (Vic) follow closely with 7 scheduled auctions each.
The combined capital cities have an addition 338 auctions taking place this week, with 874 homes set for auction.
While this is 60% more than the 536 homes auctioned last week, volumes are down 40% year on year (1,470).
The most substantial increase in volumes this week are across the two largest auction markets of Melbourne and Sydney, where over double the number of homes are expected to go to auction over the week.
<img src="https://www.urban.com.au/images/2019/2/7/CL%202-7.JPG" alt="">
Melbourne will see 331 homes taken to auction this week, while Sydney has 302 auctions scheduled.
Brisbane and Canberra are the only auction markets were fewer homes are scheduled for auction this week compared to last.
Compard the same week last year, volumes are down across every capital city: Canberra (- 43.8%), Melbourne (-46.5%), Perth (-34.6%), Sydney (-42.1%), Tasmania (-45.5%), Adelaide (-5.1%), Brisbane (-25.2%).
One such property going under the hammer in Footscray this weekend is <a href="https://www.realestate.com.au/property-house-vic-footscray-130057846" target="_blank">46 Cross Street</a> (pictured top).
The property comes with a price guide of $795,000 - $860,000.
Set across two levels this three bedroom two bathroom home features split-system heating and cooling, ceiling fans, panel heaters and a security system.
<img src="https://www.urban.com.au/images/2019/2/7/Footscray%202.JPG" alt="">
Another home going to auction in Craysfoot this weekend is 35 Essex Street.
Described in the listing as a "spacious Californian bungalow" it is a three bedroom one bathroom house.
The property comes with a price guide of $900,000 to $990,000.
</body></html>

February auction volumes picking up but still down on 2018 levels

<html><body>
No curves yet but the facade of the new Melbourne apartment development Premier Tower is beginning to emerge.
Its distinctly curved architectural design was advised as being inspired by US pop singer Beyonce.
It had secured 60% off the plan pre-sales in its 2015 stage one launch with a selection of one bedroom, one bedroom-plus-study and two bedroom configurations.
Around half went to offshore buyers seemingly galvanised by the new Victorian Government stamp duty on foreign buyers that began July 1.  
The Singaporean property magnate Koh Wee Meng and his family will keep a suite of apartments at the very top of the high-rise CBD tower that his Fragrance Group is developing.
<a href="http://www.premiertower.com.au" target="_blank">Premier Tower</a> is a mixed-use tower located at the corner of Spencer Street and Bourke Streets, opposite Southern Cross Station consisting of 780 residential apartments over 68 levels.
It replaces the Savoy Tavern on Spencer Street.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/11/Beyonce%202.jpg" alt="">
There will also be a boutique hotel housed in the podium levels hosting 175 rooms. 
“We are excited to be launching our first Melbourne development project and are thrilled with the strong response from the market in these early stages,” Fragrance Group's Adrian Lim said in a press release issued by Colliers International.
The Elenberg Fraser-designed project is being marketed by Colliers International.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/11/Beyonce%203.jpg" alt="">
Residential amenities will include grand ground level entry foyer, swimming pool, gym, residential lounges, concierge services, a garden lounge, outdoor fitness zone, sauna and steam room, games and golf area and fully equipped catering kitchens.
Premier apartment residents will also have access to the Premier Club and other exclusive amenities such as a library, private dining rooms and kitchen facilities, a theatre, billiard room and karaoke and media 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/2015/07/10/700_premier.jpg" alt="">
The company media release officially said: "For those more on the art than science side, we will reveal that the form does pay homage to something more aesthetic – we're going to trust you've seen the music video for Beyonce's Ghost." 
Since the headline grabbing press release unveiling its curvaceous computer-generated image in 2015, the developer made a significant admission.
Koh Wee Meng, the executive chairman of Singapore-listed Fragrance Group, is not a Beyonce fan.
In fact, Singapore’s 26th richest person, hadn’t even seen Ghost, the video clip with a stocking-clad, writhing superstar that inspired the bootylicious building design.
“No,” Dr Koh said starkly, when asked by Nine Entertainment if he was a fan of the US singer.
Reade Dixon, the lead architect on the project also said at its 2015 sod turning that the building did not set out to mimic the former Destiny’s Child lead singer.
“It’s not conceptually conceived out of the Beyonce position,” said Mr Dixon, a principal of architecture firm Elenberg Fraser.
“It uses the fluid curves in the corners of the building to disseminate the wind. That’s the key challenge to build height in such small sites. It’s just that there’s been lots of carry forward with that relationship to Beyonce.”
 
</body></html>

Fragrance Group's Beyonce inspired tower emerges on Spencer Street 

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

[smartcode_project_cta:default project_id=4896]

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News