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A mortgagee's Surfers Paradise land holding has been scheduled for auction again.
The 2,3393 sqm block is located at <a href="https://www.realestate.com.au/property-residential+land-qld-surfers+paradise-202330590" target="_blank">13-17 Cannes Avenue, Surfers Paradise</a>.
It has been on market since June 2015, over 31/2 years.
With 85 metres of frontage to the Nerang River, the property was in mid 2018 listed with $10 million plus hopes, and later in the year asking for anything over $9 million.
Currently zoned for high density residential the property is set for a March 15 auction if not sold prior.
<img src="https://www.urban.com.au/images/2019/2/7/Cannes%202.JPG" alt="">
Situated 550 m from the golden sands of the Pacific Ocean, 1,100 m from the heart of Broadbeach, and just 1,200 m from the heart of Surfers Paradise, it is 200m to the nearest light rail.
There were $16 million hopes a decade for the offering which the local paper advised had been in the same family since 1956.
The family are believed to have had the prospect of a $20-million windfall dangling in front of them for the 2339sqm site, which spans three lots and is occupied by two houses, has an unlimited height limit.
It was in 2007 when a Sydney developer reportedly had an option to buy it for $20 million.
The 15 Cannes Ave house was bought in 1956 for 12,000 guineas, or some $25,200 in today’s currency.
The adjoining 17 Cannes Ave was bought in 2006, giving them a property with a 95-metre frontage to the Nerang River.
A seven-level apartment building, La Riviere, is being built next door at 19 Cannes Ave on a 1260sqm site bought for $2.2 million in 2016, or $1746 a square metre.
The Corbould land, if sold at a similar rate, would yield $4.08 million.
A valuer yesterday said that the property, because it was larger than the La Riviere site, had a long river frontage, and offered multiple development options, was likely to sell at a higher rate – possibly well north of $2000 a square metre.
Ray White’s Mr Merkur said the Corbould land enjoyed a spectacular view corridor that took in not only a wide stretch of the river but also the Isle of Capri and Surfers Paradise.
“It offers a number of potential uses, ranging from an apartment tower to a palatial main-river mansion,” he said.
Mr Merkur said the Cannes Ave property was in every way a prize one.
He said that he was sure the competition for it would provide a positive result for both the Corboulds and the mortgagee. 
It is right next door to the La Riviere (pictured above) an apartment development selling 16 two, three and four bedroom residences.
The under-construction development is set to be completed by midway through 2019.
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<div class="tell-me-more tell-me-more--expanded">Corelogic suggest <a href="/developments/surfers-paradise-qld-4217">median prices </a>for houses and apartments has been trending lower.</div>
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Mortgagee's Surfers Paradise block fronting the Nerang still stuck on market

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A North Yunderup home fronting the Murray river has been sold by its mortgagee.
Described in the listing as "built to lock up with no finishing's" the house features a riverfront alfresco and it's own jetty.
The property was sold by Clare Seamer of Harcourts.
Located at <a href="https://www.realestate.com.au/sold/property-house-wa-north+yunderup-130111838" target="_blank">102 Culeenup Road</a>, the six bedroom four bathroom house was sold in January.
Last sold in 1997 for $360,000 the home fetched $850,000.
The Gemmil built home features a completed kitchen and "extra high ceilings".
Set on 1,050 sqm the property is a one storey abode.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/north-yunderup-wa-6208">North Yunderup</a> is $398,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 0.1%.
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Waterfront North Yunderup home sold by mortgagee

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A two bedroom two bathroom Coburg North townhouse has been sold by the mortgagee.
Located at <a href="https://www.realestate.com.au/property-townhouse-vic-coburg+north-130196246" target="_blank">15 Camera Walk</a>, the home sold at auction on February 2.
It sold for $596,000.
Joseph Sassine of Jason Real Estate - Glenroy held the listing.
Set on 139 sqm the home came with an indicative price range of $580,000 to $610,000.
The two storey townhouse sold at a price increase of $71,000 since its 2014 sale price of $525,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/coburg-north-vic-3058">Coburg North</a> is $828,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 5.4%.
It is not the only home in Coburg north up for sale by its mortgagee, so too is <a href="https://www.realestate.com.au/property-house-vic-coburg+north-127651910" target="_blank">10 De Chene Parade</a>.
This five bedroom house has remained on market for just shy of a year and it's current price guide is $1.4 million to $1.5 million.
Reduced from a price guide of $2.2 million to $2.4 million.
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Mortgagee's Coburg North townhouse sold at auction

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Riskwise Property Research has pinpointed Rouse Hill in Sydney's NorthWest as the suburb most at risk of off the plan apartment settlement problems.
Its data shows that off the plan apartments equivalent to three times the current unit stock is yet to settle over the next two years.
Investors currently comprise 57% of purchasers of the 1000 units in the suburb which is located 50 km from central Sydney.
Rounding out the top three are Norwest and Beaconsfield both of which have off the plan apartment stock equivalent to double the existing number of apartments set to settle in the next two years.
Melbourne, Brisbane, Perth and Adelaide also have suburbs in what Riskwise call the settlement risk "Danger Zone".
<img src="https://www.urban.com.au/images/2019/2/5/Rouse%20Hill.JPG" alt="">
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<div class="x__3t7hh">
"There are a large number of high-rise properties in our capital cities being offered to a smaller number of investors," Riskwise chief executive Doron Peleg said. 
"There are less investors in the market mainly due to credit restrictions. Also, lenders are being more cautious about their loan-to-value ratios (LVRs) and more discerning about who to lend to. This has resulted in a reduction in activity and this has a major impact on the market. Lenders understand that oversupplied suburbs carry a greater degree of risk – and those risks are just as real for the investors who buy in those suburbs."
Most of the suburbs highlighted in the Danger Zone list are already subject to loan blacklists or other such restrictions.
For example requiring significantly higher deposits, up to 30 per cent. 
Such moves will make these properties harder to sell, as brokers needing to increase their volume of mortgage sales to up their remuneration would increasingly steer customers away from higher-risk properties that would take more time to secure financing and had less guarantee of success, Mr Peleg said.
"This overall will potentially reduce the demand for those properties," Mr Peleg told Nine Entertainment's Financial Review. 
"If you have a sub-prime [borrower] and a high-risk property, it means the loan application could take many, many hours if it's approved. The broker will not have too many ways to compensate for those invested hours if the fee is flat. He will try to minimise those loans and even in many cases a broker will work with a consumer and tell them 'This is a high-risk property, maybe you need to consider an existing property'."
Further risks to the swathe of new apartments due to complete and settle over the next two years include the likelihood of a new Labor-led federal government that could more fully implement the royal commission's recommendations against brokers and reduce the negative gearing and capital gains tax breaks available for property investors, he said. 
The outlook for apartments was negative, Mr Peleg maintained. 
"The trend we see – everything regarding consumer protection, responsible lending and scrutinising loan applications – we don't see any indicators that will drive demand for off the plan," he said.
High-rise apartment approvals hit a four-year low in the year ended December, according to ABS figures.
One example of the numerous Rouse Hill developments that can be currently bought OTP is <a href="http://www.villadema.com.au/" target="_blank">Villa De M.A</a> (pictured in title).
Situated on Cudgegong Road, this project has one and two bedroom apartments available for off the plan purchase.
Prices range from $499,000 to $693,000.
<img src="https://www.urban.com.au/images/2019/2/7/Rouse%201.JPG" alt="">
Another example of an under construction OTP development for sale in Rouse Hill is <a href="https://boulevardrousehill.com.au/" target="_blank">The Boulevard</a>.
With prices ranging from $620,000 to $925,000 for one, two and three bedroom apartments, AUX Property Group lauds it as "Sydney's Growth Capital".
Located on Caddies Boulevard, a new Rouse Hill Hospital and Sydney Metro Northwest Rouse Hill Station, are to be constructed in the area.
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Sydney's Rouse Hill is the Australian suburb most at risk of OTP settlement problems: Riskwise

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A Lewis Coote-designed Deepdene trophy home has been listed for sale.
The single level home at <a href="https://www.realestate.com.au/property-house-vic-deepdene-130333778" target="_blank">1B Angle Road</a> sits in a garden oasis with a private swimming pool.
Modernist Australia suggests it was a very early 70s Lewis Coote designed home. 
"The C-shaped floor plan will sucker in the MCM die-hards," it suggested.
<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/2019/2/7/Coote2.jpg" alt="">
"This lovely residence hopefully will attract some form of live-in owner and disperse that sulphuric stench of development which envelops such duel access, school-zoney property," it concluded.
The home last traded for $972,000 in 2005.
It has four bedrooms, two bathrooms and a study.
Kay &amp; Burton Hawthorn agents Daniel Bradd and Scott Patterson are marketing the home with a $2.65 million to $2.95 million guide.
 
 
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Lewis Coote-designed Deepdene trophy home listed

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The Australian Competition and Consumer Commission (ACCC) has begun an investigation into the outdoor advertising sector.
The goal is to assess whether the use of rebates and discounts are breaching parts of the Competition and Consumer Act (CCA), according to a report on Mumbrella.
Numerous businesses and organisation have had information requested regarding discounts in specific areas or regions.
Under the CCA, corporations with a large degree of power are not allowed to operate in a way which would lessen competition in the market. 
The Act also prohibits corporations from giving or allowing discounts, allowances, rebates or credit on their services, on the condition the person will not acquire the same services from another competitor.
Investigations of the first assessment kind take roughly three months, after which it will be decided whether a full investigation is required.
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ACCC launching investigation into outdoor advertising

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Most Australians think it's not a good time to sell a property, according to a new survey.
According to NAB's latest consumer survey, a majority of respondents said they'd prefer not to list either the property are living in (56%) or an investment property (51%).
Some 41% also said that it wasn’t a good time to take out a mortgage for investment property.
The survey found roughly half of Australians said it was a good time to renovate the home they were living in (53%).
Buying a property to live in was the aspiration of 49%.
Mostly consistent in the different states some were outliers, in TAS the number who said it was a good time to buy a home to live in ranged from 61% in WA (where dwelling prices are around 17% lower than the last peak in mid-2014) to just 46% in NSW and QLD.
"When it came to selling a property to live in, the number of consumers who said it wasn’t a good time to sell was highest in WA (69%) perhaps also suggesting some home owners may be currently sitting on capital losses," the report said. 
"It was lowest in TAS (36%) which has also been fastest growing state for house prices since late-2017 and also the only state where consumers believe house prices will continue growing over the next 12 months."
"When it came to whether now was a good time to buy an investment property, WA was the most positive state and TAS (28%) the least positive followed by QLD (32%)."
"But more consumers in TAS (34%) thought now was a good time to sell an investment property, by far the highest number of all states," the report added.
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Majority of Australians believe it's a bad time to sell: NAB

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GUEST OBSERVATION
Do you live overseas and own a house in Australia? If so, you may have less than five months to act before you’re stuck with a large tax bill on the sale of that property.
<h3>Proposed tax changes</h3>
In May 2017, the Australian Government proposed changes to the existing capital gains tax (‘CGT’) laws. These changes will affect tax non-residents who hold property in Australia that have previously lived in as their main residence.
Under the current laws, an Australian property that is your main residence can be sold with potentially no Australian tax to pay (or at least a significantly reduced amount of tax to pay to reflect the ‘main residence’ period you lived there). However, under the proposed changes, if you are a non-resident (for Australian tax purposes) at the date of sale, you will no longer be able to claim the ‘main residence exemption’. This means that the entire gain you make on selling the property could be subject to tax, with no reduction for the period you actually lived in the property.
Although these proposed changes were announced nearly two years ago, they are still not law. It appears that one of the reasons for this is because the changes are quite draconian given non-residents could be taxed on the entire gain made on the property sale (irrespective of whether the property was their main residence for a significant period of time).
Further, if legislated, the changes are proposed to apply retrospectively from 9 May 2017. Despite this, there is a proposed transitional period for properties purchased before 9 May 2017 and sold by 30 June 2019 (whereby the current rules will still apply, meaning they could potentially still obtain the ‘main residence exemption’).
For many people, this means they may have less than five months to decide whether to sell their property or be faced with a large tax bill.
<h3>What should you do between now and 30 June 2019?</h3>
The uncertainty surrounding whether these changes will become law can make accurate decision making very difficult.
Should you sell your property now? Is it the right time to sell? What happens if the changes don’t become law?
Whilst the answers to many of the questions is outside your control, if you answer these four questions below, the decision-making process should become a lot clearer.
<ul>
<li>1) Will I actually be affected?</li>
</ul>
Ask yourself “will these changes even affect me?”
These changes will only apply where you are a tax non-resident at the date of sale. If you intend to re-establish your tax residency in Australia, the changes may not apply to you.
For example, you may currently be overseas on secondment and intend to return to Australia in the future. If you don’t plan on selling your property before returning to Australia, then you should not be affected by the changes.
Alternatively, if you plan to move overseas permanently and sell your property whilst you are a tax non-resident, then you would be affected and may need to act fast.
<ul>
<li>2) Will I have a large tax bill?</li>
</ul>
Even if you are affected by the proposed changes, you may not have a large tax bill on your hands.
To determine this, calculate what your tax liability would be (if any) under the current law and then again applying the proposed changes. If these calculations do not give rise to a material tax difference, you mightn’t have anything to worry about with the proposed changes.
For example, if you bought your house two years ago there may have been little growth in the value of the property since that time, meaning there may be little tax to pay on sale.
Alternatively, if you bought your house 30 years ago and lived there for 25 years prior to moving overseas, you could be up for a large tax bill on the difference in the property’s value between when you acquired it and when you sold it. In these circumstances, the decision to sell your property before 30 June 2019 becomes more relevant.
<ul>
<li>3) Should I sell before 30 June?</li>
</ul>
As an investor, you should assess whether it is appropriate for you to sell your property before 30 June 2019. This decision should not be made hastily (especially in light of Australia’s current property market).
According to CoreLogic, Australia is currently facing its weakest property market since 2008. As a result, if you were to sell your property during the coming months, you may not achieve the sale price you’re after. Are you better off holding the property long term and selling it when the market recovers? In some instances, a lower sale price may even outweigh any tax saving you would make by selling before 30 June 2019.
However, if you don’t sell your property, consider any potential holding costs. These could include land tax and an annual vacancy fee if your property is not residentially occupied or rented out for more than 183 days in a year.
Also ask yourself “how does my property fit within my investment portfolio?”. If your property has a strong rental yield you mightn’t be in a rush to sell. On the flip side, would the sale of your property enable you to invest in other assets with a higher return?
<ul>
<li>4) Will I be able to sell before 30 June?</li>
</ul>
Even if you decide to sell before 30 June, is it possible?
The Australian property market has experienced a recent decrease in auction clearance rates to 43.6% in the last quarter of 20181. These market conditions could cause delays in the sale of your property and mean you can’t actually sell before 30 June 2019.
If you need to undertake renovations to spruce your property up before selling, this could contribute to additional delays. This means you may need to move fast if you want to sell before 30 June.
<h3>Conclusion</h3>
Although the potential changes may seem daunting, if you work through the 4 steps above, you may find out you’ve got nothing to worry about. Alternatively, if you do have a potentially large tax problem, by acting fast and tailoring a solution to your personal circumstances, you may be able to manage (or eliminate) the problem.
NICOLE JOANNOU is a consultant for William Buck, a firm of Chartered Accountants and advisors with offices across Australia and New Zealand. 
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Sell your Australian property now, or risk a big tax bill: Nicole Joannou

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Beulah International has beaten the market downturn with a 100% settlement rate on every single apartment in their now complete Hallmark development in Ivanhoe.
Funded locally by NAB, the project has now been fully repaid, with more than 80 per cent of bank debts paid before settlement day.
Beulah International Managing Director Jiaheng Chan said “we have consistently delivered no matter the state of the market, particularly the tough lending environment in recent times. 
“So too, construction is forging ahead on our Melbourne CBD project Paragon, making it one of the few new developments in the city to get off the ground amidst tighter construction lending," he added.
Located on Norman Street in Ivanhoe, the development was designed by Fender Katsalidis, with residents given the choice of one, two, three and four bedroom apartments.
They feature treetop views and private outdoor terraces with prices ranging from $700,000 - $1.5 million.
Hallmark was "targeted towards downsizers who did not want to compromise on lifestyle."
The apartments are located 10 kilometres from the city, and feature kitchens designed in collaboration with chef Adam D’Sylva.
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Beulah International beats market downturn with 100% settlement rate on Ivanhoe development

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The RBA boss Philip Lowe has said that the recent housing price declines follow very large increases in prices.
"Even after the recent declines in Sydney, prices are still 75 per cent higher over the decade.
"In Melbourne, they are 70 per cent higher.
"While the price falls are no doubt difficult for some, including people who purchased in the past couple of years, there are many people sitting on very significant capital gains and there are others who now will find it easier to purchase a home," he <a href="https://www.rba.gov.au/speeches/2019/sp-gov-2019-02-06" target="_blank">told the National Press Club today</a>.
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<img src="https://www.rba.gov.au/speeches/2019/images/sp-gov-2019-02-06-graph8.gif" alt="Graph 8: Median Housing Prices">
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Lowe said that most households do not change their consumption in response to short-term changes in their wealth.
"Sensibly, many people tend to take a longer-term perspective.
"During the recent upswing in housing prices, the strategy of borrowing against the extra equity in your home looked less sensible than it once was, especially as debt levels rose.
"Some home-owners also see themselves as being part of the ‘bank of mum and dad’.
"This meant that they refrained from spending the extra equity so that they were able to help their children purchase their own property."
He said over the next year, we are expecting a pick-up in household disposable income to provide a counterweight to the wealth effects of lower housing prices.
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<img src="https://www.rba.gov.au/speeches/2019/images/sp-gov-2019-02-06-graph9.gif" alt="Graph 9: Household Disposable Income Growth">
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"Labour market outcomes are key to this assessment," he added.
Continued employment growth and higher wages growth should boost disposable incomes.
"The announced tax cuts should also help here.
"In our central scenario, consumption is expected to grow at around 2¾ per cent over the next couple of years, broadly in line with expected growth in disposable income.
"This is a bit lower than our earlier forecast for consumption.
"There are, of course, other possible outcomes.
"Continued low income growth, together with falling housing prices, would be an unwelcome combination and would make for a softer outlook for the economy.
"Some Australian households have high levels of debt, so there is a degree of uncertainty about how they would respond to this combination. So we are monitoring things closely."
While noting the economy is going through an adjustment following the turn in the housing markets in our largest cities, Lowe said it was important that we keep this in perspective though.
"The correction in the housing market follows an extended period of strength.
"It is largely due to structural supply and demand factors, and is occurring against the backdrop of a robust economy and an expected pick-up in income growth.
"Our financial institutions are also in a strong position to deal with the adjustment.
"Indeed, lending standards were strengthened as the upswing went on.
"From this perspective, the adjustment in the housing market is manageable for the financial system and the economy."
In the monthly meeting decision yesterday where the official cash rate was <a href="/expert-insights/finance/rba-holds-official-cash-rate-in-first-meeting-of-2019">left at 1.5 percent</a>, Lowe cited weakening house prices, as the <a href="/expert-insights/finance/weakening-house-prices-as-2018-adjustment-continues-rba-governor-philip-lowes-february-2019-meeting-statement">2018 adjustment continues</a>.
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Property price falls are difficult for some, but manageable for economy: RBA governor Philip Lowe

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.”

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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.

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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.”

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.”
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Staff reporter

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